Four talks on Keynes in relation to the Bloomsbury Group: I. Maynard Keynes of Bloomsbury (Craufurd Goodwin); II. Keynes as Policy Advisor (E. Roy Weintraub); III. Keynes and Economics (Kevin D. Hoover); IV. Keynes and Hayek (Bruce Caldwell). The talks were delivered as part of roundtable...

Solow has repeatedly called for the development of models that combine equilibrium and out-of equilibrium outcomes or what he called a macro-economics of the medium-run. This paper recounts the history of Solow's different attempts to address this issue. It starts in early 1950s when Solow...

F.A. Hayek essentially quit economic theory and gave up the phenomena of industrial fluctuations as an explicit object of theoretical investigation following the publication of his last work in technical economics, 1941's The Pure Theory of Capital. Nonetheless, several of Hayek's more...

I examine John Maynard Keynes' struggle with the doctrine of the classical forced saving during the period 1924-1936 from when he worked on 'A Treatise on Money' to the completion of his 'General Theory'. The forced saving notion has been developed as a key mechanism of how monetary expansion...

Samuelson kept optimization-based problems separated from macroeconomic dynamics in his Foundations, where dynamics were defined in terms of difference and differential equations. Despite some criticism of his "correspondence principle" of stability analysis by D.F. Gordon, D. Patinkin and...

The paper provides a narrative of the effort to develop a structuralist macroeconomic model in Latin America, as seen through the eyes of Chilean economist Osvaldo Sunkel (b. 1929). Sunkel faced the problem of how to model structuralism, an indigenous Latin American contribution to economics and...

This paper is an exploration of the genesis of Paul Samuelson's Foundations of Economic Analysis (1947) from the perspective of his commitment to Edwin B. Wilson's mathematics. The paper sheds new lights on Samuelson's Foundations at two levels. First, Wilson's foundational ideas, embodied in...

Evsey Domar put forward in a couple of articles in the 1940s a "guaranteed income growth proposal." For the first time in macroeconomics, economic policy was supposed to work merely through the impact of its announcement on expectations. He claimed that optimistic expectations of income growth...

My paper reconstructs the path of German economist Friedrich A. Lutz (1901−1975) to American economics. The correspondence with his former teacherWalter Eucken, the founder of the Freiburg School, constitutes a crucial and yet unexplored source for the paper. Through Lutz's case, I demonstrate...

The Pigou effect was conceived to counter Keynes's argument that a competitive economy could remain in the state of high unemployment. Before he introduced this idea, Pigou had debated with Keynes the same question of whether an economy has the tendency to recover full employment. He lost in...