Less than 50 years after the publication of Marshall's "Principles"
Cambridge once again set economics on a new path with the
publication of Keynes' "General Theory". This book examines the
developments in Cambridge monetary and trade cycle theory that were
moving it forwards but were also sowing the seeds for the collapse
of the Marshallian neo-classical framework.;The analysis shows how
Cambridge economists such as Keynes, Robertson, Lavington and
Hawtrey had built on the foundations of Marshall and Pigou to
produce theories of adaptive behaviour under certainty which
acknowledged that the invisible hand could fail in the short run.
This established a conflict with the long-run theory of market
clearing equilibrium which, though it could be ignored at first,
had finally to be resolved.
General
Imprint: |
Palgrave Macmillan
|
Country of origin: |
United Kingdom |
Release date: |
May 1990 |
First published: |
1990 |
Authors: |
R. Bigg
|
Dimensions: |
216 x 140 x 20mm (L x W x T) |
Format: |
Hardcover
|
Pages: |
228 |
ISBN-13: |
978-0-333-51657-7 |
Categories: |
Books >
Business & Economics >
Economics >
Macroeconomics >
General
|
LSN: |
0-333-51657-5 |
Barcode: |
9780333516577 |
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