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In The Methodology of Macroeconomic Thought, Sheila Dow attempts to
bridge the gap between methodology and macroeconomic theory through
the study of four different schools of thought in economics - the
Neo-Austrian, mainstream, post Keynesian and Marxian traditions -
and by seeking to understand their methodological foundations in
their own terms. In this substantially-revised new edition of her
classic work, Macroeconomic Thought: A Methodological Approach, Dr
Dow argues for methodological awareness among practising economists
as a basis for constructive debate and reasoned argument. The
methodological content has been substantially increased to include
material on recent developments in the field. After analysing the
historical and methodological development of each of the schools,
the author covers the micro-foundations of their macroeconomics and
their approaches to key concepts including equilibrium,
expectations, money and macroeconomic policy. The author seeks to
identify the sources of differences between schools of thought as
well as potential and actual commonalities before examining their
differences at a conceptual level. Unlike other accounts,
mainstream economics is treated here as one school of thought on a
par with Neo-Austrian economics, PostKeynesian economics and
Marxian economics. The Methodology of Macroeconomic Thought will be
welcomed by readers for its description and analysis of these
schools in their own terms, as well as for the wider perspective it
offers on methodology.
This is the second book celebrating Brian Loasby's contribution to
economics by an internationally renowned group of authors including
Mark Casson, G.B. Richardson, Nicolai Foss, Keith Pavitt, Martin
Fransman and Richard Day. It extends Brian Loasby's work in the
area of the theory of the firm and related methodological issues.
This book is mainly concerned with the theory of the firm, a
subject central to much of Brian Loasby's work. The authors begin
by considering the existence and nature of firms and their internal
and external relations, paying special attention to the themes of
coordination and communication costs in a world of surprise and
change. The discussion then moves on to the way in which firms use
and create knowledge and capabilities, referring to questions of
organization, with some detailed empirical investigation of high
technology industries. The final part focuses on methodological
issues including rationality, knowledge, incommensurability and
equilibrium, in the context of different traditions. This book will
be welcomed by microeconomists especially those interested in the
theory of the firm and methodology.
In this important new book, Sheila Dow argues that money is
integral to the economic process and that some common principles
may be applied when analysing money's role at the regional,
national and international levels. The importance of considering
the spatial aspects of money's role has been highlighted by recent
developments in Europe and elsewhere.Using a post Keynesian
perspective, the first five chapters put forward a methodological
and theoretical framework for a theory of money which combines
endogenous credit creation and liquidity preference. The next five
chapters analyse money's role in the economic process as it affects
regional economies. The final two chapters adapt the theory in
order to analyse finance and development in the international
context, and as a basis for discussing possible international
institutional reforms. Money and the Economic Process features some
of Sheila Dow's most acclaimed articles and papers in this area, as
well as including some new work which reveals the recent
development of her thought.
In these twelve essays, spanning fifteen years, Victoria Chick
develops a distinctive view of macroeconomics (especially the
economics of Keynes) and monetary theory. By careful and rigorous
analysis in which nothing is taken for granted, she uncovers the
implicit assumptions of economic theory and argues, in a variety of
contexts, that differences of economic method and the influence of
the stylised facts are decisive forces, both in the construction of
theories and in appraising their contemporary relevance.
In these twelve essays, spanning fifteen years, Victoria Chick
develops a distinctive view of macroeconomics (especially the
economics of Keynes) and monetary theory. By careful and rigorous
analysis in which nothing is taken for granted, she uncovers the
implicit assumptions of economic theory and argues, in a variety of
contexts, that differences of economic method and the influence of
the stylised facts are decisive forces, both in the construction of
theories and in appraising their contemporary relevance.
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