ABSTRACT
This introduction presents an overview of the key concepts discussed in the subsequent chapters of this book. The book provides a theoretical understanding of how prices are determined in the oligopolistic sector of the American economy and how those prices, so determined, affect the growth and stability of the economy as a whole. It provides a valid micro foundation for Keynesian - and post-Keynesian - macroeconomic theory. The book concerns the Federal government because it alone exercises control over aggregate fiscal and monetary affairs. It demonstrates, the tax on corporate net income is simply passed along to customers in the form of higher prices and thus it serves as the equivalent of a generalized sales tax. The book points out that the aggregate supply function is quite different from what it is generally assumed to be, at least insofar as prices are concerned.
