We have previously encouraged all to read in CWL 15, Macroeconomic Dynamics: An Essay in Circulation Analysis, both the Editors’ Preface, by Charles C. Hefling, JR./xi, and the Editors’ Introduction, by Frederick G. Lawrence/xxv.  (Click here and here for 8/1/19 Brief Item and here)

Below we simply print the Contents headings of CWL 15.  The reader will note that the headings do not resemble very much the chapter headings one might find in a conventional macroeconomics textbook.  That is because Lonergan applied a radically different, scientific, dynamic heuristic to macroeconomics, and he put his questions in the right order.  He used precise analytic distinctions and implicit definition to achieve explanation in terms of dynamic, interdependent functionings. He achieved a radically different field theory of the economic process.  As a scientist he reached explanation by the way of analysis, and as a teacher he presented his discovery by the way of synthesis.  Thus he has been able to lead readers to understand his revolutionary Modern Macroeconomic Field Theory.

CWL 15, Contents

• General Editors’ Preface, Frederick E. Crowe and Robert M. Doran/ix
• Editors’ Preface, Charles C. Hefling, JR./xi
• Editors’ Introduction, Frederick G. Lawrence/xxv
• Acknowledgments/lxxiii
• Preface/3
• Summary of the Argument/ 5

Part One/7

• 1 Analysis /7
• 2 Economic Process/ 12
• 3 Significant Basic Variables/14
• 4 Circulation Analysis/16
• 5 Procedure/17
• 6 The Productive Process/23
• Additional Note to Section 6  /22
• 7 Division of the Productive Process/23
• 8 The Basic Stage of the Productive Process/28
• 9 The Surplus Stage/31
• 10 Cycles of the Productive Process/35
• 11 A Technical Restatement/36
• 12 Classes of Payments/38
• 13 Rates of Payment and Transfer/45
• 14 Diagram of Rates of Flow/55
• 15 Circuit Acceleration (I)/56
• Appendix to Section 15/65
• 16 Circuit Acceleration (II)/68
• 17 Measuring Change in the Productive Process (I)/70
• 18 Phases in the Productive Process/75
• 19 Mistaken Expectations/80
• 20 Misadventures/82
• 21 Methodological Shifts/86
• 22 The Position of This Essay/91

Part Two/97

• Healing and Creating in History/97

Part Three/107

• 23 Measuring Change in the Productive Process (II)/107
• 24 The Cycle of the Productuve Process/113
• Additional Note to Section 24: The Pure Cycle/120
• 25 Price and Quantity Changes in Accelerating Circuits/128
• Additional Note to Section 25: The Phases in Circuit Acceleration – A Technical Statement/130
• 26 The Cycle of Basic Income/133
• 27 The Cycle of Pure Surplus Income/144
• 28 The Cycle of the Aggregate Basic Price Spread/156
• 29 Superposed Circuits/162
• 30 The Balance of Foreign Trade/165
• 31 Deficit Spending and Taxes/173
• Appendix: History of the Diagram, 1944-1998, Patrick H. Byrne/177
• Glossary of Symbols/203
• Index/215