This major work provides an assessment of Adolf Lowe's work and explores areas for future research in relation to his important contribution to economics, in particular his belief that economics is inseparable from social inquiry.The book opens with an overall evaluation of Lowe as a perceptive historical, political and sociological observer, presented through a number of personal recollections by Robert Heilbroner, Claus-Dieter Krohn and Marion Countess Donhoff. They analyse Lowe's intellectual and socio-political development during the Weimar Republic and how this period influenced some of his later works. The second part assesses Lowe's major contribution to the development of business cycle theory, and the roots of his analysis of structural and economic change. The book also examines Lowe's pioneering work in the field of traverse analysis. It concludes with a discussion of Lowe as 'economic philosopher' and his concern with the extent to which contemporary Western societies can balance the conflict between freedom and order.

In the words of Robert M. Solow traverse analysis "is the easiest part of skiing, but the hardest part of economics". The aim of this volume is to assess the state and scope of modern traverse analysis as it had been initiated by John Hicks in his pioneering contribution Capital and Time (1973). The analysis of an economy which originally had been in a growth equilibrium which was disturbed by technical progress is one of the most challenging problems in economics. This book takes Hicks' work as the point of departure for theoretical work on the macroeconomic theory of capital dynamics along transition non-steady state paths The original contributions in this volume explore the manifold theoretical roots of traverse analysis in classical and post-classical literature, its features as a specific method of economic dynamics, and its applications in a variety of fields from monetary economics to development and international economics. The essays thereby focus on the ways ahead from Capital and Time that have been suggested and actively pursued by a number of scholars in recent years. Its central theme is the role of capital structures as critical factors in determining the actual dynamics of any given economic system. This volume is inspired by the belief that this state of affairs is not a satisfactory one, and outlines a new agenda for capital theory. Contributors include Edwin Burmeister, Jean-Luc Gaffard and Heinz Kurz.

As the world grapples with increased globalization and technological change, Friedrich List’s work appears more relevant than ever before. His theory of "productive powers" and his argument for protecting infant industries give us a valuable way of looking at innovation systems, winners and losers in international trade, and the current shift towards economic and political nationalism. Comprising fifteen specially commissioned chapters from a range of international scholars, this book explores many aspects of List’s economic thought, including industrial development, political economy, the economics of education, infrastructure and catching-up processes in Asian economies. This volume will be illuminating reading for advanced students and researchers in the history of economic thought, economic history, economic policy and international trade.

Structural change analysis has been a distinctive feature of economics since its formative period. This authoritative three-volume collection presents a comprehensive selection of the key contributions to the topic.The Economics of Structural Change shows the central role that compositional dynamics plays in the analysis of fluctuations, development, employment and economy-environment interactions. Volume I covers concepts and theories in the economics of structural change; Volume II includes specific contributions to structural theories of growth, cycles and technological change; Volume III focuses on specific areas in the empirics of structural change analysis. This important three-volume set will be indispensable to researchers and practitioners alike.

Sir John Hicks made a major contribution to almost every aspect of modern economic theory. His diverse and inventive work has left a huge impression on the discipline. Contributors: Christopher Bliss, Oxford University; John S. Chipman, University of Minnesota; Nicholas Georgescu-Roegen, Vanderbilt University; Richard Goodwin, University of Siena; Frank H. Hahn, Cambridge University; John D. Hey, University of York; Charles M. Kennedy, University of Kent; David Laidler, University of Western Ontario; Axel Leijonhufvud, University of California, Los Angeles; Robin C.O. Matthews, Cambridge University; Michio Morishima, London School of Economics; Kurt W. Rothschild, Vienna; Robin Rowley, McGill University; Roberto Scazzieri, University of Bologna.

Sir John Hicks made a major contribution to almost every aspect of modern economic theory. His diverse and inventive work has left a huge impression on the discipline.
Contributors: Christopher Bliss, Oxford University; John S. Chipman, University of Minnesota; Nicholas Georgescu-Roegen, Vanderbilt University; Richard Goodwin, University of Siena; Frank H. Hahn, Cambridge University; John D. Hey, University of York; Charles M. Kennedy, University of Kent; David Laidler, University of Western Ontario; Axel Leijonhufvud, University of California, Los Angeles; Robin C.O. Matthews, Cambridge University; Michio Morishima, London School of Economics; Kurt W. Rothschild, Vienna; Robin Rowley, McGill University; Roberto Scazzieri, University of Bologna.

The most influential and controversial economist of the twentieth century, John Maynard Keynes was the leading founder of modern macroeconomics, and was also an important historical figure as a critic of the Versailles Peace Treaty after World War I and an architect of the Bretton Woods international monetary system after World War II. This comprehensive Companion elucidates his contributions, his significance, his historical context and his continuing legacy. Prominent scholars examine Keynes's life and major writings, his theories and contributions, influences on the development of his thought, his interactions with his contemporaries, his followers and critics, the lasting significance of his work and the changing fortunes of Keynesianism in different countries. The concise but thorough and comprehensive entries are arranged in eight parts: Life and Work, Influences, Major Works, Economic Analysis, Critics and Contemporaries, Associates, Legacy and Impact, and Keynesianism in Various Countries. The Companion will serve as the standard reference work for all those interested in John Maynard Keynes, in the economics of Keynes and in the history of macroeconomics. Contributors include: N. Aslanbeigui, M. Assous, R. Backhouse, I. Barens, D. Besomi, P. Bini, M. Boianovsky, H. Bortis, M. Boumans, V. Caspari, V. Chick, P. Clarke, P. Davidson, J.B. Davis, R.W. Dimand, R. Dos Santos Ferreira, S. Dow, M.J. Flanders, J. Forder, M. Forstater, D. Glasner, R. Gomez Betancourt, C. Goodhart, P. Groenewegen, H. Hagemann, O. Hamouda, G.C. Harcourt, I. Hardeen, E. Hein, S. Hollander, P. Howitt, S. Howson, S.D. Kasper, P. Kerr, J. King, H. Klausinger, J. Kregel, P. Kriesler, H.D. Kurz, M. Lavoie, B. Littleboy, L. Magnusson, M.C. Marcuzzo, A. Millmow, D.E. Moggridge, A. Molavi Vassei, J. Neville, R. O'Donnell, G. Oakes, L. Ramrattan, S. Rivot, G. Rubin, M. Sawyer, R. Skidelsky, R.P. Smith, P. Spahn, M. Szenberg, A. Thirlwall, G. Tilly, H.-M. Trautwein, M. Wakatabe, L.R. Wray, W. Young

This collection examines the phenomenon of economic growth with admirable economic vigour and includes contributions from leading academic figures. Theoretical approaches, underpinned by original empirical work, will make this a book welcomed by students and academics of macroeconomics and growth theory.

In the words of Robert M. Solow traverse analysis "is the easiest part of skiing, but the hardest part of economics". The aim of this volume is to assess the state and scope of modern traverse analysis as it had been initiated by John Hicks in his pioneering contribution Capital and Time (1973). The analysis of an economy which originally had been in a growth equilibrium which was disturbed by technical progress is one of the most challenging problems in economics. This book takes Hicks' work as the point of departure for theoretical work on the macroeconomic theory of capital dynamics along transition non-steady state paths The original contributions in this volume explore the manifold theoretical roots of traverse analysis in classical and post-classical literature, its features as a specific method of economic dynamics, and its applications in a variety of fields from monetary economics to development and international economics. The essays thereby focus on the ways ahead from Capital and Time that have been suggested and actively pursued by a number of scholars in recent years. Its central theme is the role of capital structures as critical factors in determining the actual dynamics of any given economic system. This volume is inspired by the belief that this state of affairs is not a satisfactory one, and outlines a new agenda for capital theory. Contributors include Edwin Burmeister, Jean-Luc Gaffard and Heinz Kurz.

This collection examines the phenomenon of economic growth with admirable economic vigour and includes contributions from leading academic figures. Theoretical approaches, underpinned by original empirical work, will make this a book welcomed by students and academics of macroeconomics and growth theory.

In the mid-19th century, the business cycle was increasingly recognized as a recurrent phenomenon. This edition contains key texts from the range of literature in the field. It covers many Anglo-Saxon writers as well as contributions from the French, German, Italian, Russian and Swedish debates.

In the mid-19th century, the business cycle was increasingly recognized as a recurrent phenomenon. This edition contains key texts from the range of literature in the field. It covers many Anglo-Saxon writers as well as contributions from the French, German, Italian, Russian and Swedish debates.

In the mid-19th century, the business cycle was increasingly recognized as a recurrent phenomenon. This edition contains key texts from the range of literature in the field. It covers many Anglo-Saxon writers as well as contributions from the French, German, Italian, Russian and Swedish debates.

These volumes contain key texts from the period 1860-1939 on Business Cycle Theory. It covers a long list of Anglo-Saxon writers, as well as the most important contributions from the French, German, Italian, Russian and Swedish debates. The older business cycle theories presented here richly elucidate the complex interaction between real, monetary and structural change factors in economic systems - the close association between historical and analytical methods providing a fertile source of inspiration for current researchers in the field. In Volume I of this edition, a number of chapters from early classics are presented. After 1860, the idea of a regular business cycle, formulated by Clement Juglar, was increasingly recognised as a recurrent phenomenon. This edition begins with Juglar's analysis of crises from a monetary standpoint and John Stuart Mill's analysis of the role of an excessive credit expansion as a characteristic and fuel for speculation. Also included are two key chapters of Marx's work: his growth model as it is specified in the extended schemes of reproduction and his comments on crisis theory. The final sections present key chapters by Jevons on his theory of sun-spots; Hobson and Mummery's linking of depressions in trade with insufficient consumption and excessive thrift; Marshall on price fluctuations on as the prevailing endogenous characteristic of cyclical fluctuations and his belief in the existence of a ten year cycle; Mitchell's analysis of the imbalance between costs and prices that develops over the cycle; Kitchin's distinction between movements of economic variables composed of either major or trade cycles and minor cycles averaging 40 months; and Kuznets attempt to give a rationale to the secondary secular movements he discovered.

These volumes contain key texts from the period 1860-1939, covering a long list of Anglo-Saxon writers, as well as the most important contributions from the French, German, Italian, Russian and Swedish debates. The older business cycle theories presented here richly elucidate the complex interaction between and real, monetary and structural change factors in economic systems - the close association between historical and analytical methods providing a fertile source of inspiration for current researchers in the field. This first part covers early classics, structural theories, monetary theories of business cycles, and the relation between equilibrium and the business cycle.

As the world grapples with increased globalization and technological change, Friedrich List's work appears more relevant than ever before. His theory of "productive powers" and his argument for protecting infant industries give us a valuable way of looking at innovation systems, winners and losers in international trade, and the current shift towards economic and political nationalism. Comprising fifteen specially commissioned chapters from a range of international scholars, this book explores many aspects of List's economic thought, including industrial development, political economy, the economics of education, infrastructure and catching-up processes in Asian economies. This volume will be illuminating reading for advanced students and researchers in the history of economic thought, economic history, economic policy and international trade.

Money, Financial Institutions and Macroeconomics presents a comparative and international perspective on the current state of research in monetary theory, and the application of monetary theory to important policy issues. The main emphasis is on views stressing the importance of credit creation in the monetary process, in a tradition which arguably encompasses Wicksell, the later Swedes and the Austrians, through the later Hicks, the circuit school and contemporary post-Keynesians. In addition, however, there are distinguished contributions from economists with a more `mainstream' approach to the issues. The book is subdivided into four main parts: Part I reviews the theory of a monetary and credit economy; Part II explores alternative views on money and credit; Part III deals with monetary policy issues in North America; and Part IV discusses monetary policy issues in Europe. `Taken together, the contributions to this volume certainly bear out Hick's famous adage about the much closer relationship between `monetary theory' and `monetary history' than is the case in other branches of economic thought.'

Money, Financial Institutions and Macroeconomics presents a comparative and international perspective on the current state of research in monetary theory, and the application of monetary theory to important policy issues. The main emphasis is on views stressing the importance of credit creation in the monetary process, in a tradition which arguably encompasses Wicksell, the later Swedes and the Austrians, through the later Hicks, the circuit school and contemporary post-Keynesians. In addition, however, there are distinguished contributions from economists with a more `mainstream' approach to the issues. The book is subdivided into four main parts: Part I reviews the theory of a monetary and credit economy; Part II explores alternative views on money and credit; Part III deals with monetary policy issues in North America; and Part IV discusses monetary policy issues in Europe. `Taken together, the contributions to this volume certainly bear out Hick's famous adage about the much closer relationship between `monetary theory' and `monetary history' than is the case in other branches of economic thought.'

This book examines the interrelations between Russian and European economics from the early 19th century to the present. It analyzes how Western economic thinking, such as classical economics and the marginal revolution, influenced Russian economic thinking and how Western economic ideas were modified and adapted to better reflect the specific Russian circumstances of the time. Moreover, the contributions in this book show how these modified ideas also influenced Western economists at the end of the 19th century, when Russian economics had reached the stage of professionalism and joined the international discourse on the discipline. Written by an international selection of respected experts, this book provides an overview of the most influential Russian economists and covers a wide range of topics such as the marginal revolution, the specific influence of Marxism, the evolution of mathematics and statistics in Russia in the 1890s-1920s, and the unique experience of building a planned economy in the Soviet Union. It is intended for all scholars and students who are interested in the history of economic thought.

Der Leser erhalt mit diesem Buch einen Uberblick uber den Stand der Forschung in der Neuen Wachstumstheorie und die Konvergenzdebatte. Daruber hinaus beinhaltet das Buch eine strukturelle Analyse der langfristigen Wachstumstrends und ihrer Beschaftigungselastizitaten in 51 Industrien der Bundesrepublik Deutschland bis zur Vereinigung. Gleichzeitig wird die aktuelle industriepolitische Diskussion zusammengefasst. Des weiteren werden die Argumente fur eine auf den Ergebnissen der Neuen Wachstumstheorie basierenden beschaftigungsorientierten Industriepolitik unter Berucksichtigung der Debatte uber die Beschaftigungswirkungen des technischen Fortschritts diskutiert. Der Leser wird somit sowohl von theoretischer als auch empirischer Seite aus uber das Thema informiert.

L. Albert Hahn published the first edition of the Economic Theory of Bank Credit in 1920 and a radically revised third edition in 1930. Economic Theory of Bank Credit is a clear exposition of a theory of credit and stands in the tradition of Harley Withers, Henry Macleod, and Knut Wicksell. A theory of credit recognizes that banks are not only intermediaries of savings but in fact create money themselves. This idea is paired with a detailed account of the technical processes of the banking sector. In Part Two, Hahn provides an economic account of the effects of credit creation on the economy: banks vary their credit creation activity for various reasons and cause fluctuations in overall economic activity. Hahn therefore develops a monetary theory of the business cycle in the spirit of Schumpeter. The first and third editions draw different conclusions about central bank policy. The first edition is optimistic that an ever-lasting boom could be achieved, whilst the third edition sees the core function of central bank policy as smoothing economic fluctuations. This edition, translated into English for the first time, enables the reader to revisit this classic contribution to monetary theory. It features a complete translation of the first edition, key elements of the third edition, and a new introduction by Professor Harald Hagemann.