The author essentially evaluates all of economic history by using Sraffa's Production of Commodities by Means of Commodities as the litmus test.The author certainly has a point . Sraffa's approach would be preferable to the present,mainstream, standard ,neoclassical model based on the rational economic man of Benthamite Utilitarianism.This model is represented in the present day by Subjective Expected Utility( SEU )theory. SEU theory is a marriage of the Ramsey,De Finetti,and Savage subjectivist,Bayesian approach to probability ,that Keynes proved was a special case in his 1921 A Treatise on Probabiity,with the Morgenstern- von Neumann utility-game theory approach.



However,this is not the relevant choice.He completely overlooks Keynes's contribution in the General Theory.Instead ,he concentrates on the strange ,bizarre claim, made by a self admitted mathematical illiterate, Dennis Robertson ,about Chapter 3 of the GT being the core of Keynes's contribution.This myth was apparantly accepted by Richard Kahn,Austin Robinson,and Joan Robinson and passed down to a host of other economists like Sydney Weintraub,E Roy Weintraub,Paul Davidson ,Jan Kregel,G Harcourt,V Chick ,S Dow,A Leijonhufvud,Robert Clower,Robert Solow and a cast of supporting economists that stretches into the thousands.The author ,unfortunately,has absolutely no idea about what J M Keynes is doing in chapters 19,20,and 21 of the General Theory.This is most clearly brought out in the author's discussion of Keynes's theory of effective demand,which involves Keynes's aggregate supply curve and/or employment function.THe discussion of the aggregate supply function is an intellectual mess.



In his last chapter,the author appears to believe that the future of economic analysis will eventually turn out to be some kind of Sraffa based theory.THe problem here is that it is not possible to integrate Sraffa and Keynes because Sraffa essentially rejects the foundation of Keynes's theoretical construct,liquidity preference,since it is based on uncertainty.Neither Sraffa nor the present author have any idea about the connections that exist between Keynes's analysis in chapter 21 and Section 4 of chapter 15 of the GT and the A Treatise on Probability.

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