Traces the development of post-Keynesian economic theories and examines the arguments which surround current neo-Keynesian thought. Argues for an eclecticism which recognizes that both supply-side and demand-side factors have a role to play in determining levels of output and employment. Useful charts and diagrams are included. (Author/DH)

Contends that unemployment is an example of market failure. Argues that explaining unemployment from this supply-demand approach is preferable to the traditional explanation that high "real wages" are the cause. Reveals that many prominent economists entered the field because of their concern for the social problems caused by…