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This overview of Australasian economic thought presents the first
analysis of the Australian economic contribution for 25 years, and
is the first to offer a panoramic sweeping account of New Zealand
economic thought. Those two countries, both at the start of the
twentieth century and at its end, excelled at innovative economic
practices and harbouring unique economic institutions. A History of
Australasian Economic Thought explains how Australian and New
Zealand economists exerted influence on economic thought and
contributed to the economic life of their respective countries in
the twentieth century. Besides surveying theorists and innovators,
this book also considers some of the key expositors and builders of
the academic economics profession in both countries. The book
covers key economic events including the Great Depression, the
Second World War, the post-war boom and the great inflation that
overtook it and, lastly, the economic reform programmes that both
Australia and New Zealand undertook in the 1980s. Through the
interplay of economic events and economic thought, this book shows
how Australasian economists influenced, to differing degrees,
economic policy in their respective countries. This book is of
great importance to those who are interested in and study the
history of economic thought, economic theory and philosophy, and
philosophy of social science, as well as Australasian economics.
Until the end of the early 1970s, from a history of economic
thought perspective, the mainstream in economics was pluralist, but
once neoclassical economics became totally dominant it claimed the
mainstream as its own. Since then, alternative views and schools of
economics increasingly became minorities in the discipline and were
considered 'heterodox'. This book is in honour of John Edward King
who has an impressive publication record in the area of economic
theory with specific interest in how economic thought in the past
shapes current economic theory and enforces certain paths of
economic policy and economic development. This book is divided into
five themes based on King's interests. The first theme looks at the
challenge in trying to reclaim pluralism in economics. The second
faces head-on the direct collision of mainstream economics with
history of economic thought and heterodox economics. The third
addresses classical economic ideas, their central influence in the
past and how they can still primarily guide modern pluralist
economics. The fourth examines Post Keynesian and Kaleckian
economics with a view to providing a more coherent and extensive
branch of heterodox economics. The final theme critiques the policy
of neoliberalism that has entrenched itself in capitalist economies
which have led to financial, industrial, labour, and
behavioural/consumerist crises. This text aims to provide a clear
path for pluralism to serve the economics discipline as its
standard bearer, and to no longer be merely a heterodox challenge
to the mainstream. This book is of interest to those who study
history of economic thought, political economy and heterodox
economics.
This book offers the first intellectual biography of the Anglo
Australian economist, Colin Clark. Despite taking the economics
world by storm with a mercurial ability for statistical analysis,
Clark's work has been largely overlooked in the 30 years since his
death. His career was punctuated by a number of firsts. He was the
first economist to derive the concept of GNP, the first to broach
development economics and to foresee the re-emergence of India and
China within the global economy. In 1945, he predicted the rise and
persistence of inflation when taxation levels exceeded 25 per cent
of GNP. And he was also the first economist to debunk post-war
predictions of mass hunger by arguing that rapid population growth
engendered economic development. Clark wandered through the fields
of applied economics in much the same way as he rambled through the
English countryside and the Australian bush. His imaginative
wanderings qualify him as the eminent gypsy economist for the 20th
century.
This book offers the first intellectual biography of the Anglo
Australian economist, Colin Clark. Despite taking the economics
world by storm with a mercurial ability for statistical analysis,
Clark's work has been largely overlooked in the 30 years since his
death. His career was punctuated by a number of firsts. He was the
first economist to derive the concept of GNP, the first to broach
development economics and to foresee the re-emergence of India and
China within the global economy. In 1945, he predicted the rise and
persistence of inflation when taxation levels exceeded 25 per cent
of GNP. And he was also the first economist to debunk post-war
predictions of mass hunger by arguing that rapid population growth
engendered economic development. Clark wandered through the fields
of applied economics in much the same way as he rambled through the
English countryside and the Australian bush. His imaginative
wanderings qualify him as the eminent gypsy economist for the 20th
century.
This overview of Australasian economic thought presents the first
analysis of the Australian economic contribution for 25 years, and
is the first to offer a panoramic sweeping account of New Zealand
economic thought. Those two countries, both at the start of the
twentieth century and at its end, excelled at innovative economic
practices and harbouring unique economic institutions. A History of
Australasian Economic Thought explains how Australian and New
Zealand economists exerted influence on economic thought and
contributed to the economic life of their respective countries in
the twentieth century. Besides surveying theorists and innovators,
this book also considers some of the key expositors and builders of
the academic economics profession in both countries. The book
covers key economic events including the Great Depression, the
Second World War, the post-war boom and the great inflation that
overtook it and, lastly, the economic reform programmes that both
Australia and New Zealand undertook in the 1980s. Through the
interplay of economic events and economic thought, this book shows
how Australasian economists influenced, to differing degrees,
economic policy in their respective countries. This book is of
great importance to those who are interested in and study the
history of economic thought, economic theory and philosophy, and
philosophy of social science, as well as Australasian economics.
Until the end of the early 1970s, from a history of economic
thought perspective, the mainstream in economics was pluralist, but
once neoclassical economics became totally dominant it claimed the
mainstream as its own. Since then, alternative views and schools of
economics increasingly became minorities in the discipline and were
considered 'heterodox'. This book is in honour of John Edward King
who has an impressive publication record in the area of economic
theory with specific interest in how economic thought in the past
shapes current economic theory and enforces certain paths of
economic policy and economic development. This book is divided into
five themes based on King's interests. The first theme looks at the
challenge in trying to reclaim pluralism in economics. The second
faces head-on the direct collision of mainstream economics with
history of economic thought and heterodox economics. The third
addresses classical economic ideas, their central influence in the
past and how they can still primarily guide modern pluralist
economics. The fourth examines Post Keynesian and Kaleckian
economics with a view to providing a more coherent and extensive
branch of heterodox economics. The final theme critiques the policy
of neoliberalism that has entrenched itself in capitalist economies
which have led to financial, industrial, labour, and
behavioural/consumerist crises. This text aims to provide a clear
path for pluralism to serve the economics discipline as its
standard bearer, and to no longer be merely a heterodox challenge
to the mainstream. This book is of interest to those who study
history of economic thought, political economy and heterodox
economics.
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