David Ricardo's key place in the history of economic thought is well established. However, both the understanding of his Principles of Political Economy and Taxation and its role in the development of economic analysis is much more controversial. Cambridge economists have contributed...

In major advanced economies, including Australia, independent central banks have become established institutions. Yet there are reasons why the sustained presence of such an institution in a democratic society should be challenged. This paper considers the arguments usually advanced for central...

The paper considers Keynes's major contributions before "The General Theory", namely "A Tract on Monetary Reform" and "A Treatise on Money", and shows that they were close to the views which Friedman would later develop. However, "The General Theory of Employment, Interest and Money" represented...

The General Theory showed that the main determinant of the level of output and of employment at any point of time was the level of effective demand. It did so in an environment of uncertainty using analysis in historical time. Unfortunately, most of Keynes's insights were soon lost to the...

Keynes originally published his Essays in Biography in 1933. After his death, Rupert Hart-Davies reprinted the volume, adding, with the help of Sir Geoffrey Keynes (Keynes's brother), “three of the more important of Keynes's later writings – the essays on … Jevons and Newton and his...

An attempt is made, in these few pages, to suggest how Stefano Zambelli's economic intuition is based on the work of distinguished unorthodox (and some enlightened orthodox) economists, emphasising the connection between the long-term and the short-term and the theory of imperfect competition.