This book argues that Keynesian economists have betrayed Keynes' theory and policy conclusions. Keynesian economics has not merely led to an easily dismissed justification for 'Keynesian' policies, but the world has been grossly misled about just what those policies are. Keynesians have focused attention exclusively on policies for dealing with effects of economic failure as they arise, whereas in contrast, Keynes was concerned with the cause and then the prevention of economic failure. While these effects can be addressed with fiscal policy, the cause and prevention was a matter for monetary policy. Keynes' legacy is that of national and international policy measures that permit the necessary control over the financial system. ÍNDICE: PART I: HISTORY Monetary Economics and Monetary Policy JMK and the Fourth Grand Monetary Discussion The Origins of Keynesian Economics PART II: THEORY The Saving-Investment Identity and the Transition to the General Theory The Theory of Liquidity Preference and Debt Management Policy The Monetary Theory of Real Activity PART III: MACROECONOMICS AFTER KEYNES Keynes's Response to Keynesian Economics The Keynesian Counter-Revolution and Thereafter The General Theory and the 'Facts of Experience' Conclusion Bibliography