Reinterpreting Mr Keynes
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Reinterpreting Mr Keynes
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Author : Warren Young
language : en
Publisher: Springer Nature
Release Date : 2022-01-19
Reinterpreting Mr Keynes written by Warren Young and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-01-19 with Business & Economics categories.
This book examines the origins of the IS-LM model, one of the most significant innovations in the history of economic thought. It shows that the complete IS-LM model, including the equations and diagram, was produced by a group of economists who contributed their respective mathematical models of Keynes’s General Theory, including Champernowne, Reddaway, Harrod, and Meade, not to mention Hicks. Furthermore, the book discusses the implications of newly discovered archival material, including a previously overlooked document showing that John Maynard Keynes himself was the first to present the IS-LM model equations in a lecture he gave on December 4, 1933. It focuses on the implications of this material in terms of understanding the evolution of Keynes’s approach from 1933 to 1937, later interpreters of his General Theory, and the ongoing debate between Keynesians and Post-Keynesians on the nature of his system. Given the revelations it presents, this book will transform the profession’s understanding of the origins of the IS-LM model and modern macroeconomics.
Reinterpreting The Keynesian Revolution
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Author : Robert Cord
language : en
Publisher: Routledge
Release Date : 2013-05-02
Reinterpreting The Keynesian Revolution written by Robert Cord and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-05-02 with Business & Economics categories.
Various explanations have been put forward as to why the Keynesian Revolution in economics in the 1930s and 1940s took place. Some of these point to the temporal relevance of John Maynard Keynes's The General Theory of Employment, Interest, and Money (1936), appearing, as it did, just a handful of years after the onset of the Great Depression, whilst others highlight the importance of more anecdotal evidence, such as Keynes’s close relations with the Cambridge ‘Circus’, a group of able, young Cambridge economists who dissected and assisted Keynes in developing crucial ideas in the years leading up to the General Theory. However, no systematic effort has been made to bring together these and other factors to examine them from a sociology of science perspective. This book fills this gap by taking its cue from a well-established tradition of work from history of science studies devoted to identifying the intellectual, technical, institutional, psychological and financial factors which help to explain why certain research schools are successful and why others fail. This approach, it turns out, provides a coherent account of why the revolution in macroeconomics was ‘Keynesian’ and why, on a related note, Keynes was able to see off contemporary competitor theorists, notably Friedrich von Hayek and Michal Kalecki.
A Financial Theory Of The Business Cycle
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Author : Edward W. Fuller
language : en
Publisher: Taylor & Francis
Release Date : 2025-02-17
A Financial Theory Of The Business Cycle written by Edward W. Fuller and has been published by Taylor & Francis this book supported file pdf, txt, epub, kindle and other format this book has been release on 2025-02-17 with Business & Economics categories.
A Financial Theory of the Business Cycle presents a new approach to business cycle theory based on the net present value. The book develops a novel diagrammatic approach to illustrate how fractional reserve banking systematically distorts net-present-value calculations. In addition to providing fresh insights, the new diagrammatic approach provides a comparative framework that can be used to compare pre-existing theories, including those of John Maynard Keynes, Friedrich Hayek, Milton Friedman, and Robert E. Lucas, Jr. The net present value is the most important concept in the theory and practice of modern finance. As such, it is the proper framework for explaining the systematic financial losses that occur during the business cycle. Eugen von Böhm-Bawerk and Irving Fisher developed the modern theory of the net present value, and the financial theory of the business cycle developed in this book is rooted in their tradition. Although financial elements played a central role in their respective theories, Keynes and Hayek did not use the net present value. This failure created problems that still haunt business cycle theory today. This book addresses these problems and attempts to steer financial theories of the business cycle back to the course set by Böhm-Bawerk and Fisher. In addition to macroeconomists, this book will appeal to financial economists, money and banking experts, accountants, financial analysts, and businesspeople generally.
Alvin Hansen
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Author : Robert J. Bigg
language : en
Publisher: Springer Nature
Release Date : 2023-11-15
Alvin Hansen written by Robert J. Bigg and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-11-15 with Business & Economics categories.
This book examines the academic life of Alvin Hansen and his contribution to modern economics. Through tracing the development of his early work and pre-Keynesian ideas, the influence of Keynes and the 1937-8 recession on the direction of his work is explored, particularly in relation to his theoretical backing of the New Deal and subsequent American policy. The subsequent chapters focus on his later work on secular stagnation, savings and investment, American Keynesianism, managing the post-war mixed economy and the often overlooked contributions to global questions and wider aspects of political economy and public policy. This book aims to highlight the intellectual influence and academic value of Alvin Hansen’s work. It will be relevant to students and researchers interested in economic policy, political economy, and the history of economic thought.
The Palgrave Companion To Mit Economics
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Author : Robert A. Cord
language : en
Publisher: Springer Nature
Release Date : 2025-08-11
The Palgrave Companion To Mit Economics written by Robert A. Cord and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2025-08-11 with Business & Economics categories.
The Massachusetts Institute of Technology has been and continues to be one of the most important global centres for economics. With four chapters on themes in MIT economics and 38 chapters on the lives and work of MIT economists, this book shows how economics became established at the Institute, how it produced some of the world’s best-known economists, including Paul Samuelson, Franco Modigliani and Robert Solow, and how it remains a global force for the very best in teaching and research in economics. With original contributions from a stellar cast, the volumes provide economists – especially those interested in macroeconomics and the history of economic thought – with an in-depth analysis of MIT economics.
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).
The Palgrave Companion To Harvard Economics
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Author : Robert A. Cord
language : en
Publisher: Springer Nature
Release Date : 2024-07-05
The Palgrave Companion To Harvard Economics written by Robert A. Cord and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-07-05 with Business & Economics categories.
Harvard University has been and continues to be one of the most important global centres for economics. With three chapters on themes in Harvard economics and 41 chapters on the lives and work of Harvard economists, these two volumes show how economics became established at the University, how it produced some of the world’s best-known economists, including Joseph Schumpeter, Wassily Leontief and John Kenneth Galbraith, and how it remains a global force for the very best in teaching and research in economics. With original contributions from a stellar cast, the volumes provide economists – especially those interested in macroeconomics and the history of economic thought – with an in-depth analysis of Harvard economics.
Keynes And Macroeconomics After 70 Years
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Author : L. Randall Wray
language : en
Publisher: Edward Elgar Publishing
Release Date : 2009-01-01
Keynes And Macroeconomics After 70 Years written by L. Randall Wray and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-01-01 with Business & Economics categories.
The book is strongly recommended for those interested in the continuing reception of Keynes s thinking. John B. Davis, EH.NET In this substantial new collection, esteemed Post-Keynesian scholars reassess the relevance of Keynes s The General Theory to a broad array of topic areas, ranging from the environment, investment finance, exchange rates, and socialism, as well as inquiries into general Post-Keynesian theory. In response to the current economic crisis, many people looking for new solutions are excitedly re-discovering the Post-Keynesian tradition of money modeling and theory. This book offers a broad array of recent Post-Keynesian scholarship, providing a good contextual understanding of the current state of the field from which innovative money solutions are springing. Topics covered here include: Keynes and heterodox economics, the founding fathers of Post-Keynesian economics, Keynesian models, Keynesian policy, and the modern development and extensions of Keynesian economics. Academics and practitioners eager for a solid heterodox approach to economics and money theory, the environment, finance, and political science will find the book an invaluable addition to their collection.
Interpreting Mr Keynes
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Author : Warren Young
language : en
Publisher: Westview Press
Release Date : 1987
Interpreting Mr Keynes written by Warren Young and has been published by Westview Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1987 with Biography & Autobiography categories.
Contemporary Macroeconomics
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Author : Vasilii Erokhin
language : en
Publisher: Springer Nature
Release Date : 2023-07-01
Contemporary Macroeconomics written by Vasilii Erokhin and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-07-01 with Business & Economics categories.
This book covers a lot of ground in contemporary macroeconomics, from fundamental theories such as market structures and equilibrium to emerging concepts that reflect the most critical challenges of modern times, including economic slowdowns, the resilience of public health systems, digitalization, environmental footprints, and many more. The COVID-19 outbreak has aggravated the recurrent problems of poverty and income inequality between countries, food insecurity and hunger, unemployment, and social disorders that have resulted in the exacerbation of political, economic, and trade tensions between countries. In view of the damaging consequences of the pandemic for the entire global economy, the book examines how existing macroeconomic tools and policies could be adapted to the new normal to ensure sustainable post-pandemic development and growth. The main text is interspersed with real-life illustrations and cases that demonstrate practical implications of the concepts under study. This makes the reading relevant and active. Every chapter starts with learning objectives and ends with a series of questions and quizzes that enable easier reinforcement of the course content. This book is written mainly for students, but it would be much useful to the broader public audience, including postgraduates, researchers, and business people who will be able to learn all recent updates about macroeconomics and the post-pandemic perspectives of the global economy.