Part I History or equilibrium? 1
1 The idea of Transformational Growth 3
2 The stylized facts of the old business cycle and the new 37
Part II Method and approach: the active mind 71
3 Conceptual truths and empirical observations 75
4 Rationality, structure, and behavior 106
Part III Money and the Golden Rule 149
5 Circulation and production: the need for money 152
Appendix: Recent theories of circulation 206
6 Circulation and instability: the supply of money 216
Part IV The wage-profit trade-off 289
7 The Classical system: the Golden Rule, labor, and the wage-profit trade-off 292
Appendix: A numerical example 351
8 The Classical system: gravitation and market adjustment 360
9 Cycles and growth: market adjustment in Craft conditions 410
Part V Investment and Mass Production 465
10 Demand growth, pricing, and investment plans 467
11 Inflation, employment, and market adjustment in Mass Production 545
Appendix: Stability of the modes of operation 602
Part VI Money and fluctuations in the modern economy 611
12 Money and interest in the Keynesian system 613
13 Growth and cycles: financially constrained instability under Mass Production 654
Conclusions 715
14 Keynesian themes on Classical grounds 717
