Keynesian Behavioral Macroeconomics analyses Keynes&s landmark contributions to behavioral economics and develops a new and fresh genre of macroeconomic analysis. It compels us to consider seriously the earlier-generation warnings about the impact of investors& animal spirits and financiers& liquidity preference using cognitive-based and social psychology heuristics. Innovative in its subject matter, approach, theoretical development, and policy prescriptions, this constructivist pluralist approach can contribute to important contemporary advances and debates. This fresh look at macroeconomics can fruitfully be applied by macroeconomists, policymakers, and market participants to prevent effective demand shortages, stimulate the economy, preserve job creation, and impact redistribution, sustainability, and social inclusion. In this timely book, Theodore Koutsobinas develops a synthesis of Keynes&s macroeconomic theory with contemporary developments in behavioral macroeconomics to analyze urgent real-world challenges, and he proposes successful solutions for macroeconomic policy. This volume uniquely explains how Keynes&s magnificent, crucial, but long-forgotten dynamics can be analyzed on the basis of behavioral foundations to explain amplified global finance cycles, booms and busts, and macroeconomic instability with harmful effects on incomes and jobs. It builds constructively and systematically over three decades on themes identified and introduced first by Keynes, then his Cambridge disciples such as Kahn and Kaldor, and later elaborated on by notable Keynesian and Post Keynesian scholars such as Tobin, Minsky and Davidson, and relating them to cognitive and social psychology. This book will be a valuable and lively reading resource for students, scholars, policymakers, and market practitioners interested in fresh insights and flourishing outlooks in macroeconomic analysis amidst fast modern-day developments.

Those insights and outlooks take into account technological changes, globalization, financialization, and geopolitical repercussions, as well as other significant overlapping themes in related fields such as in economic theory, financial economics, public policy, economic psychology, and political economy.