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The Impact of Keynes on Economics in the 20th Century reconsiders
the nature and significance of Keynes's theories and economic
policies. It provides important contrasting interpretations of
Keynesian thought, and illustrates the diversity of Keynesianism in
different European countries throughout the century. The book
provides a blend of theoretical and historical discussions to
evaluate the contents and implications of Keynesianism. It includes
reappraisals of modern interpretations of Keynes's thought, the
extent to which Keynesian ideas were anticipated in different
European countries and the reactions to the Keynesian revolution.
In addition the authors consider the impact of Keynesian thought on
institutions which embraced, rejected or developed alternatives to
this school of thought. The book is divided into three main parts.
The first addresses Keynesian theory. The second part presents an
overall picture of Keynesian-type policies and theories throughout
Europe; many of these were not necessarily stimulated by Keynes but
were the outcome of national traditions and on-going debates. The
third part is devoted to how Keynesian policy has been used by
government and non-governmental organizations in an attempt to deal
with unemployment and deflation during the twentieth century. The
Impact of Keynes on Economics in the 20th Century will be welcomed
by historians of economic thought, economic historians and those
interested in Keynesian and post-Keynesian developments in Europe
during this century.
What was the Keynesian revolution in economics? Why did it not
succeed to the extent that Keynes and his close pupils had hoped
for? Keynes and the Cambridge Keynesians addresses these and other
questions by tracing the historical development of Keynesian
economics. The book is split into three parts. Part I contains the
author's Caffe Lectures on Keynes's 'unaccomplished revolution'.
Part II is a series of biographical essays where the author,
himself a witness and participant of the group on which he writes,
presents the successful and unsuccessful endeavours of Keynes's
most important pupils: Richard Kahn, Joan Robinson, Nicholas
Kaldor, Pierro Sraffa and Richard Goodwin. Part III of the book
looks to the future by developing a conceptual analytical framework
that makes sense of Keynes's 'revolution in economics', discussing
the many ways in which the Keynesian way of doing economics is
incompatible with the neoclassical tradition.
First published in 1981 this book presents an original theoretical
treatment of the problems of maintaining full employment in a
multisector economic system with a growing population and different
rates of technical progress in different sectors. The conditions
for full employment and full capacity utilisation are examined when
prices are stable and when there is inflation. This approach is
carried out, not in terms of input-output relations, as has become
customary in multisector models, but rather in terms of vertically
integrated sectors. This makes it possible to analyse the economic
growth process in terms of the structural dynamics of production,
of prices and of employment. Remarkable implications are drawn for
a surprisingly large number of theoretical problems, which have
been under discussion since Adam Smith: from price theory to the
theory of rates of profit and the rates of interest; from
production theory to the theories of fluctuating growth,
ever-changing composition of output, choice of technique and
international trade.
This 1974 collection of six essays in economic theory represents a
major contribution to the field. The first contains the formulation
of the Ricardian system, whilst the next two contain, respectively,
the author's synthetic treatment of the complex problems of
fluctuations and economic growth, and his well-known theorem that
in the long run the rate of profit and income distribution are
independent of the propensities to save of the working class. The
essays that follow provide the missing links: a coherent picture of
the macroeconomic theories that have originated in Cambridge and a
discussion of their deep foundations in classical economic
analysis. Finally, the author evaluates some economic controversies
and draws his conclusions on the basic forces determining rate of
profit in the process of economic growth. Although the arguments
are highly theoretical, they require no knowledge of mathematics
beyond elementary calculus and algebra.
What was the Keynesian revolution in economics? Why did it not
succeed to the extent that Keynes and his close pupils had hoped
for? Keynes and the Cambridge Keynesians addresses these and other
questions by tracing the historical development of Keynesian
economics. The book is split into three parts. Part I contains the
author's Caff?? Lectures on Keynes's ???unaccomplished
revolution???. Part II is a series of biographical essays where the
author, himself a witness and participant of the group on which he
writes, presents the successful and unsuccessful endeavours of
Keynes's most important pupils: Richard Kahn, Joan Robinson,
Nicholas Kaldor, Pierro Sraffa and Richard Goodwin. Part III of the
book looks to the future by developing a conceptual analytical
framework that makes sense of Keynes's ???revolution in
economics???, discussing the many ways in which the Keynesian way
of doing economics is incompatible with the neoclassical tradition.
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