This work investigates the divergence between the original economic theories proposed by John Maynard Keynes and the subsequent interpretations established by the neoclassical synthesis. Axel Leijonhufvud, a prominent economist, utilizes a rigorous analytical framework to deconstruct how Keynesian ideas were translated into formal mathematical models. He argues that the standard textbook representation of Keynesianism often obscures the fundamental insights regarding market coordination and monetary dynamics that Keynes originally intended to convey.

Economists and historians of thought frequently cite this text as a foundational critique of mid-century macroeconomic orthodoxy. Readers often note the high level of technical density, which requires a strong background in economic theory to fully grasp the author's arguments.