This collection of essays investigates the fundamental role of information and coordination failures in generating macroeconomic instability. Axel Leijonhufvud, a prominent economist known for his reinterpretation of Keynesian theory, utilizes these essays to challenge the neoclassical synthesis. He argues that market economies do not inherently possess self-correcting mechanisms that guarantee full employment, particularly when information is imperfect and coordination is decentralized.

Experts recognize this work as a significant contribution to the post-Keynesian and disequilibrium schools of thought. Readers frequently note the academic density of the prose, which requires a strong background in economic theory to fully grasp the author's nuanced arguments.