Keynes And The Classics
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Keynes And The Classics Reconsidered
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Author : James C.W. Ahiakpor
language : en
Publisher: Springer Science & Business Media
Release Date : 1998-03-31
Keynes And The Classics Reconsidered written by James C.W. Ahiakpor and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 1998-03-31 with Business & Economics categories.
Keynes and the Classics Reconsidered is a collection of scholarly work re-evaluating Keynes's revolution in economic thought, both in the method of macroeconomic reasoning and in policy-making. This book brings together mostly a younger generation of economists to revisit Keynes's interpretation of the classics and its impact on macroeconomic theory and policy. There has been a considerable advance in the literature re-interpreting the classics and the early neoclassical economists. Most of the contributing authors have themselves been active participants in this reinterpretation. The participation of Robert Clower, an active participant in the Keynes versus the classics debate since the 1960s, brings a particularly significant retrospective to this fresh look at the record. Keynes and the Classics Reconsidered will be of interest to policy-makers and economists, especially those working in the areas of macro and monetary economics.
Keynes And The Classics
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Author : Robert Lekachman
language : en
Publisher: Boston : Heath
Release Date : 1964
Keynes And The Classics written by Robert Lekachman and has been published by Boston : Heath this book supported file pdf, txt, epub, kindle and other format this book has been release on 1964 with Keynesian economics categories.
This new series of readings is designed to facilitate the teaching of courses in economics by providing flexibility and depth of treatment to a variety of important subjects. Each volume deals with a vital issue about which there has been, and is, considerable argument. Each volume contains a wider range, both of primary sources that permit a student a fresh view of basic materials and of secondary writings of well-known authorities. Each volume is edited by a specialist in the field who provides editorial instructions, comments, summaries, and an annotated bibliography.
Keynes And The Classics
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Author : Axel Leijonhufvud
language : en
Publisher:
Release Date : 1969
Keynes And The Classics written by Axel Leijonhufvud and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1969 with Biography & Autobiography categories.
This publication comprises a reappraisal of the work of John Maynard Keynes. It strengthens the view that the Keynesians went too far in supposing that the old economics had been overthrown by the new, and in a sense it rehabilitates both classical economics in a modern form and also Keynes as a theorist who added an important development to it, although the 'Keynesian Revolution' began and stayed on the wrong track partly because of Keynes's polemical presentation. Issues discussed include the multiplier; unemployment and effective demand; the saving-investment problem; and fiscal policy.
The General Theory Of Employment Interest And Money
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Author : John Maynard Keynes
language : en
Publisher: Atlantic Publishers & Dist
Release Date : 2016-04
The General Theory Of Employment Interest And Money written by John Maynard Keynes and has been published by Atlantic Publishers & Dist this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-04 with Business & Economics categories.
John Maynard Keynes is the great British economist of the twentieth century whose hugely influential work The General Theory of Employment, Interest and * is undoubtedly the century's most important book on economics--strongly influencing economic theory and practice, particularly with regard to the role of government in stimulating and regulating a nation's economic life. Keynes's work has undergone significant revaluation in recent years, and "Keynesian" views which have been widely defended for so long are now perceived as at odds with Keynes's own thinking. Recent scholarship and research has demonstrated considerable rivalry and controversy concerning the proper interpretation of Keynes's works, such that recourse to the original text is all the more important. Although considered by a few critics that the sentence structures of the book are quite incomprehensible and almost unbearable to read, the book is an essential reading for all those who desire a basic education in economics. The key to understanding Keynes is the notion that at particular times in the business cycle, an economy can become over-productive (or under-consumptive) and thus, a vicious spiral is begun that results in massive layoffs and cuts in production as businesses attempt to equilibrate aggregate supply and demand. Thus, full employment is only one of many or multiple macro equilibria. If an economy reaches an underemployment equilibrium, something is necessary to boost or stimulate demand to produce full employment. This something could be business investment but because of the logic and individualist nature of investment decisions, it is unlikely to rapidly restore full employment. Keynes logically seizes upon the public budget and government expenditures as the quickest way to restore full employment. Borrowing the * to finance the deficit from private households and businesses is a quick, direct way to restore full employment while at the same time, redirecting or siphoning
Pasinetti And The Classical Keynesians
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Author : Enrico Bellino
language : en
Publisher: Cambridge University Press
Release Date : 2022-02-24
Pasinetti And The Classical Keynesians written by Enrico Bellino and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-02-24 with Business & Economics categories.
Recent economic and financial crises have exposed mainstream economics to severe criticism, bringing present research and teaching styles into question. Building on a solid and vivid tradition of economic thought, this book challenges conventional thinking in the field of economics. The authors turn to the work of Luigi Pasinetti, who proposed a list of nine methodological and theoretical ideas that characterize the Classical Keynesian School. Drawing inspiration from both Keynes and Sraffa, this school has forged a long-standing and ambitious research programme often advocated as a competing paradigm to mainstream economics. Overall, the Classical Keynesian School provides a comprehensive analytical framework into which most non-mainstream schools of thought can be integrated. In this collection, a group of leading scholars critically assess the nine main ideas that, in Pasinetti's view, characterize the Classical-Keynesian approach, evaluating their relevance for both the history of economics and for present economic research.
Mr Keynes And The Classics A Suggested Reinterpretation
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Author : Gauti B. Eggertsson
language : en
Publisher:
Release Date : 2021
Mr Keynes And The Classics A Suggested Reinterpretation written by Gauti B. Eggertsson and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021 with categories.
This paper revisits and proposes a resolution to an empirical and theoretical controversy between Keynes and the "classics" (or monetarists). The controversy dates to Keynes's General Theory (1936)--most famously formalized in Hicks's (1937) classic Econometrica article, in which the IS-LM model is first formally stated. We first replicate empirical tests formulated in the late 1960s and '70s and show that more recent data have more statistical power and resolve the empirical debate in favor of the Keynesians, at least according to the criteria of the literature at that time. We then show, using a simple dynamic stochastic general equilibrium (DSGE) model, that the empirical tests suffer from the Lucas (1976) critique, as the conclusion fundamentally depends upon the assumed policy regime. Nevertheless, we argue, this new empirical result is useful: it provides evidence for the existence of a "Keynesian policy regime" according to which traditional monetary expansion loses its impact in the absence of a policy regime change, in the sense of Sargent (1982).
Theory Of Unemployment
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Author : Arthur Cecil Pigou
language : en
Publisher: Routledge
Release Date : 2013-10-28
Theory Of Unemployment written by Arthur Cecil Pigou and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-10-28 with Business & Economics categories.
First Published in 1968. A reprinting of the original collection of essays on unemployment, from 1933, which are addressed to students of economics. Concerning the areas of the form of the real demand function for labour in particular occupations, the monetary factor, with the aim of a direct discussion on the causation of unemployment and its fluctuations.
Keynes And The Classics
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Author : Michel Verdon
language : en
Publisher: Routledge
Release Date : 2002-09-11
Keynes And The Classics written by Michel Verdon and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002-09-11 with Business & Economics categories.
Is there a language which is adequate to describe our own economy? In this volume, Michel Verdon undertakes a path-breaking analysis of the three major paradigms in economics: Marxian economics, neo-classical economics and Keynesian economics. Each of these, he argues, has an inherent cosmology, and in the case of both Marxian and neo-classical economics these preclude the development of a language which can accurately describe and analyse an economy.
Keynes Hayek The Clash That Defined Modern Economics
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Author : Nicholas Wapshott
language : en
Publisher: W. W. Norton & Company
Release Date : 2011-10-11
Keynes Hayek The Clash That Defined Modern Economics written by Nicholas Wapshott and has been published by W. W. Norton & Company this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-10-11 with Business & Economics categories.
“I defy anybody—Keynesian, Hayekian, or uncommitted—to read [Wapshott’s] work and not learn something new.”—John Cassidy, The New Yorker As the stock market crash of 1929 plunged the world into turmoil, two men emerged with competing claims on how to restore balance to economies gone awry. John Maynard Keynes, the mercurial Cambridge economist, believed that government had a duty to spend when others would not. He met his opposite in a little-known Austrian economics professor, Freidrich Hayek, who considered attempts to intervene both pointless and potentially dangerous. The battle lines thus drawn, Keynesian economics would dominate for decades and coincide with an era of unprecedented prosperity, but conservative economists and political leaders would eventually embrace and execute Hayek's contrary vision. From their first face-to-face encounter to the heated arguments between their ardent disciples, Nicholas Wapshott here unearths the contemporary relevance of Keynes and Hayek, as present-day arguments over the virtues of the free market and government intervention rage with the same ferocity as they did in the 1930s.
Classical Economic Theory And The Modern Economy
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Author : Steven Kates
language : en
Publisher:
Release Date : 2021-06-28
Classical Economic Theory And The Modern Economy written by Steven Kates and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-06-28 with categories.
Economic theory reached its highest level of analytical power and depth in the middle of the nineteenth century among John Stuart Mill and his contemporaries. This book explains classical economics when it was at its height, followed by an analysis of what took place as a result of the ensuing Marginal and Keynesian Revolutions that have left economists less able to understand how economies operate. The chapters explore the false mythology that has obscured the arguments of classical economists, clouding to the point of near invisibility the theories they had developed. Steven Kates offers a thorough understanding of the operation of an economy within a classical framework, providing a new perspective for viewing modern economic theory from the outside. This provocative book not only explains the meaning of Say's Law in an accessible way, but also the origins of the Keynesian revolution and Keynes's pathway in writing The General Theory. It provides a new look at the classical theory of value at its height that was not based, as so many now wrongly believe, on the labour theory of value. A crucial read for economic policy makers seeking to understand the operation of a market economy, this book should also be of keen interest to economists generally as well as scholars in the history of economic thought.