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This biography of the most influential economist of the twentieth century traces Keynes' career from academic Cambridge, to artistic Bloomsbury, to official Whitehall and to the City. We see the roots of Keynes' achievements and failures.
"The questions Donald Moggridge sets out to answer have made this book a classic and the best introduction available to Maynard Keynes's life and economic theories: Who was this economist, whose influence, directly or indirectly, affects so many lives - whom many praise and not a few condemn? What were his intellectual origins, his characteristic modes of thought, his beliefs, his ideas?" "The third edition contains extensive revisions, bringing it up to date with current research in Keynes studies. The concluding chapter has been completely rewritten and there are fuller discussions on Keynes's politics and his Treatise on Probability, as well as new material on the creation of the General Theory of Employment, Interest and Money."--BOOK JACKET.Title Summary field provided by Blackwell North America, Inc. All Rights Reserved
Interest in John Maynard Keynes's economic, political and philosophical thinking has undergone a tremendous revival in the last decade. The essays and comments collected in this volume were written on a set of themes representative of the current state of interpretation of Keynes's thinking. Some of the topics investigated have received much attention in the past, and some are of more recent interest. In the former category are topics on standard issues in the interpretation of Keynes's economics: the transition in Keynes's thinking from the The Treatise on Money to The General Theory, the nature of the argument in The General Theory, and Keynes's economic policy views. The latter category introduces themes of a wider nature, and includes two papers on Keynes's vision and one on Keynes's philosophical thinking. The strategy adopted in the selection of topics was to review the debates over Keynes's economics from fresh perspectives, and then go on to supply discussions of broader issues concerning the nature of Keynes as a thinker. This collection as a whole adds to our general understanding of Keynes's work, and contributes to the current revival of interest in Keynes.
An objective and perceptive account of the literature of monetary theory, this volume, by a central banker who has studied monetary theory over the last quarter of a century, clearly shows how its inherent complexity is much enriched by the study of its history. In three parts Filippo Cesarano: focuses on the innovative ideas of distinguished economists who anticipated modern theories, elaborating on them along lines that suggest original research programmes examines the impact of expectations on the effectiveness of monetary policy, illustrating how different assumptions within the classical paradigm lead to diverse hypotheses and policy design investigates the role of monetary theory in shaping monetary institutions. Deserving of a wide readership among both academic economists and monetary policy practitioners, this collection of essays is key reading for students and researchers engaged with monetary theory and the history of economics and policy makers seeking to weigh up the assumptions underlying different theories in order to select the models best suited to the problems they face.
Economic theory reached its zenith of analytical power and depth of understanding in the middle of the nineteenth century among John Stuart Mill and his contemporaries. This book explains what took place in the ensuing Marginal Revolution and Keynesian Revolution that left economists less able to understand how economies operate. It explores the false mythology that has obscured the arguments of classical economists, providing a pathway into the theory they developed.
"Waligorski shows why there is such resilience and viability to this brand of liberalism. The chapter on Keynes is as good a short piece on the economist as can be found anywhere". -- Kenneth M. Dolbeare, author of American Political Thought. "A coherent and insightful book by a sagacious thinker". -- Charles E. Lindblom, author of Politics and Markets.
This study is concerned with the time-honored problem of the change that is induced when money enters into the economy. As far back as Aristotle (Politics, pp. 1135-1143) the still-unanswered question regarding the dichotomy of the real-exchange and the monetary economy was raised. He contrasted Oeconomic, where people strive to obtain real utilities (household management), to Chrematistic, where they use money to make more money (art of wealth-acquisition): The true wealth consists of such values in use; for the quantity of possession of this kind, capable of making life pleasant, is not unlimited. There is, however, a second mode of acquiring things, to which we may by preference and with ...
This collection explores emerging areas in the history of economics and provides a valuable insight into contemporary research in the field. The papers focus on four areas: * Science and Economics. Authors investigate how science is perceived and how its history is related, details early history of probability and examine 'cyberpunk' - a science fiction genre that draws heavily on modern economic ideas * David Ricardo's contribution to international trade theory. Texts by David Ricardo are re-examined to provide a framework for a more consistent and coherent interpretation of Ricardo and to demonstrate how history of economic thought approaches can be applied to the treatment of current theory and policy concerns * The contributions of individual economists including Joseph A. Schumpeter, Werner Sombart and John Maynard Keynes and a comparison of Hicks' and Lindahl's views on monetary stability * Economics and events before Adam Smith. An investigation into English policies toward Ireland at the time of Cromwell's occupation is followed by explorations of the ideas of Vincent de Gourney and debates in French economic journals in the period 1750-1770.
The most influential and controversial economist of the twentieth century, John Maynard Keynes was the leading founder of modern macroeconomics, and was also an important historical figure as a critic of the Versailles Peace Treaty after World War I and an architect of the Bretton Woods international monetary system after World War II. This comprehensive Companion elucidates his contributions, his significance, his historical context and his continuing legacy.