This volume collects original contributions and recent research in economic theory and the political economy of unemployment and inflation from a team of internationally renowned scholars. These essays, collected in honour of John Cornwall, demonstrate the importance of economic institutions for economic outcomes and share his focus on the need for high level economic theory to be socially relevant. The book includes an intellectual biography of the honouree by Geoff Harcourt and Mehdi Monadjemi and a full bibliography of his work.