Publication Number: 2011-10 The transcript of a panel discussion marking the fiftieth anniversary of John Muth’s “Rational Expectations and the Theory of Price Movements” (Econometrica 1961). The panel consists of Michael Lovell, Robert Lucas, Dale Mortensen,… read more about this publication »
Publication Number: 2011-09 Shock is a term of art that pervades modern economics appearing in nearly a quarter of all journal articles in economics and in nearly half in macroeconomics. Surprisingly, its rise as an essential element in the vocabulary of economists… read more about this publication »
Publication Number: 2011-08 This essay analyzes the construction of “neutral” knowledge by the scholars (mostly psychologists, anthropologists and sociologists) who were members of UNESCO’s Social Science Department between 1946 and 1956. Making use of recent … read more about this publication »
Publication Number: 2011-07 This draft chapter for the Elgar International Handbook on Teaching and Learning Economics is intended to give advice to instructors who might be teaching a history of economic thought course to undergraduates for the first time or who have perhaps… read more about this publication »
Publication Number: 2011-06 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… read more about this publication »
Publication Number: 2011-05 The aim of this paper is to explain the process of diversification of normative economics by presenting the work of two authors: Tibor Scitovsky [1910-2002] and Amartya Sen [1933-]. While these two authors first contributed to traditional… read more about this publication »
Publication Number: 2011-04 The monetary economy has properties that cannot be analyzed using the tools of today's dynamic general equilibrium analysis. Keynes's economics, far from being an aberration in the otherwise orderly evolution of modern macroeconomics from… read more about this publication »
Publication Number: 2011-03 The theorem proving the existence of general equilibrium in a competitive economy, which necessarily involved specifying the conditions under which such an equilibrium would exist, is an extraordinary achievement of twentieth-century… read more about this publication »
Publication Number: 2011-02 Among American news magazines Newsweek holds the distinction of having hosted some of the most authoritative interpretation of economic events. Its cast of columnists included two of the most acclaimed academic economists and some of the… read more about this publication »
Publication Number: 2011-01 The interest-rate controversies between Böhm-Bawerk and Fisher have attracted little attention and, in the opinion of most commentators, justifiably so. Böhm-Bawerk and Fisher argue over what appear to be two minor issues – Böhm-Bawerk's claims… read more about this publication »
Publication Number: 2010-05 During the 1950s and 1960s, many economists were convinced that externalities were a cause of “market failures” -- because individuals are not capable of internalizing the costs their actions impose to others -- and therefore that the… read more about this publication »
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Publication Number: 2010-03 Early in the 18th century, before the birth of political economy as a discipline, two of the earliest novels in the English language were published: Robinson Crusoe (1719) by writer and economic entrepreneur Daniel Defoe, and Gulliver’s… read more about this publication »
Publication Number: 2010-02 In a recent article in /Challenge/ magazine, Andrew Farrant and Edward McPhail argue that the central message of F. A. Hayek's /The Road to Serfdom /is that any attempt to create a welfare state must lead inevitably to totalitarianism.… read more about this publication »
Publication Number: 2010-01 The substantial questions of macroeconomics itself are very old, going back to the origins of economics itself. But professional self-consciousness of the distinction between macroeconomics and microeconomics dates only to the 1930s.… read more about this publication »
Publication Number: 2009-01 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… read more about this publication »
Publication Number: 2022-05 Publication Date: May 9, 2022 The paper offers a view of Geoff Harcourt’s – b. 1931 in Melbourne; d. 2021 in Sydney – life trajectory as an Australian economist educated and active in the Cambridge UK tradition. His main contributions – to the Cambridge capital debates… read more about this publication »
Publication Number: 2022-07 Publication Date: May 17, 2022 The paper aims to show how the formal revolution in economics has influenced the developments of Rational Choice and Game Theory in Political Science. Our focus will be on American political scientist… read more about this publication »
Publication Number: 2022-07 Publication Date: may 17, 2022 The paper aims to show how the formal revolution in economics has influenced the developments of Rational Choice and Game Theory in Political Science. Our focus will be on American political scientist… read more about this publication »
Publication Number: 2022-07 Publication Date: May 17, 2022 The paper aims to show how the formal revolution in economics has influenced the developments of Rational Choice and Game Theory in Political Science. Our focus will be on American political scientist… read more about this publication »
Publication Number: 2022-12 Publication Date: November 15, 2022 On the occasion of the centennial of his mentor Alvin Hansen, Paul Samuelson published in 1988 a modified version of his seminal 1939 multiplier-accelerator model with the specific aim to address… read more about this publication »