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Lucas, Keynes, and the crisis
Laidler, David - 2009
This paper examines Robert E. Lucas's views on the relationship of macroeconomics to real world economic phenomena, and on Keynes's place in its history, suggesting that these stem from a particular and debatable understanding of how the subdiscipline has evolved. It considers some implications...
Persistent link: https://www.econbiz.de/10003868819
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Liquidity preference theory revisited : to ditch or to build on it?
Bibow, Jörg (contributor) - 2005
This paper revisits Keynes's liquidity preference theory as it evolved from the Treatise on Money to The General Theory and after, with a view of assessing the theory's ongoing relevance and applicability to issues of both monetary theory and policy. Contrary to the neoclassical "special case"...
Persistent link: https://www.econbiz.de/10003229836
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Confirming Robinson's Statement? A Lakatosian Analysis of Keynes and his Immediate Orthodoxy
2013
Was the Keynesian message alive during the second half of the XXth Century, or was it betrayed by his followers? This article in the fields of the history of economic thought and methodology contrasts the Scientific Research Programmes (SRPs), a Lakatosian concept, of Keynes in The General...
Persistent link: https://www.econbiz.de/10013084582
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The Relevance of Kalecki : The Useable Contribution
Minsky, Hyman P. - 2014
in 1986. It contains Minsky's assessment of Kalecki's contribution. According to Minsky, the question of Kalecki …The paper is a to date unpublished contribution by Minsky prepared for a conference at the University of Perugia held … is that both Kalecki and Keynes provide elements that are essential components for understanding the behavior of …
Persistent link: https://www.econbiz.de/10013052391
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Education, Economics and the Philosophy of Frédéric Bastiat
McGee, Robert W. - 2014
Frédéric Bastiat (1801-1850) was an economist and journalist. A member of the French Liberal School, he is best known for his free trade ideas and his philosophy of law. Mark Blaug ranks him as one of the 100 greatest economists before Keynes. Schumpeter called him a brilliant economic...
Persistent link: https://www.econbiz.de/10013054150
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Keynes, Bastiat and the Multiplier
McGee, Robert W. - 2014
Keynes is back. President Obama's economic stimulus package is based on the premise that we can spend our way out of recession. It is an application of the Keynesian multiplier theory, which was expounded in Keynes' 1936 economic treatise, The General Theory of Employment, Interest and Money....
Persistent link: https://www.econbiz.de/10013054153
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Functional Finance : A Comparison of the Evolution of the Positions of Hyman Minsky and Abba Lerner
Wray, L. Randall - 2018
This paper examines the views of Hyman Minsky and Abba Lerner on the functional finance approach to fiscal policy. It … compares and contrasts the evolution of the views of Minsky and Lerner over the postwar period, arguing that Lerner …. Minsky's views of functional finance became more nuanced, in line with his Institutionalist approach to the economy. However …
Persistent link: https://www.econbiz.de/10012928278
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Rules versus Authorities : Buchanan and Simons and Fiscal Policy
Johnson, Marianne - 2018
This chapter examines the origins of James M. Buchanan's critique of Keynesian fiscal policy. Considered are Buchanan's graduate training in public finance and fiscal policy and his early work in fiscal federalism. Two important themes emerge. The first is the influence of Henry C. Simons. The...
Persistent link: https://www.econbiz.de/10012930767
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Lectures on John Maynard Keynes' General Theory of Employment, Interest and Money (5) : Chapter 6, The Definition of Income, Saving and Investment; Appendix to Chapter 6, Appendix...
Ferguson, Brian S. - 2013
Chapter Six and its Appendix deal in some detail with the way Keynes is defining income, savings and investment in the General Theory while the appendix to Chapter 6 goes into detail on user cost. His concept of user cost at one point sparked a certain amount of controversy among Keynesians but...
Persistent link: https://www.econbiz.de/10013077469
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Lectures on John Maynard Keynes' General Theory of Employment, Interest and Money (6) : Chapters 8, 9 and 10: Keynes' Theory of Consumer Behaviour
Ferguson, Brian S. - 2013
Chapters 8, 9 and 10 set out Keynes' theory of consumer behavior. Chapter 8 is entitled The Propensity to Consume: I. The Objective Factors, Chapter 9 is The Propensity to Consume: II. The Subjective Factors, and Chapter 10 is The Marginal Propensity to Consume and the Multiplier. Contrary to...
Persistent link: https://www.econbiz.de/10013077470