The influence of political developments on the evolution of economic thought is the main theme behind this book. As the authors reveal throughout the book, history has shown many times that political events can trigger the formulation of new economic conceptions that in turn influence the future...

Tugan-Baranovsky's theory of crises has two components: a theory of markets, defining the condition under which expanded reproduction can take place, and a theory of crises proper, explaining how any rupture of equilibrium is amplified and extended to the whole system and gives rise to...

In 1926 Adolph Lowe pointed out that a system in a state of equilibrium is not capable of undergoing any change, and concluded that trade cycles cannot be explained within the framework of static analysis. Harrod seems to have become acquainted with this argument via Hayek's Monetary Theory and...

Post-Keynesian growth theory is normally seen as originating from Harrod's 1939 "Essay in Dynamic Theory". Harrod, however, was trying to lay the foundations of a new approach to economic dynamics, and often complained of misinterpretation. In this paper, the grounds of Harrod's argument are...

In 1936-39, a group of Oxford tutors inquired, by means of interviews with entrepreneurs, on price policy and investment decisions. A chronology of the inquiry is outlined, based on the surviving documents found in various archives, focusing on the choice of the subject, on the attempts to...