Real business cycle models in economics

The purpose of this book is to describe the intellectual process by which Real Business Cycle models were developed. The approach taken focuses on the core elements in the development of RBC models: (i) building blocks, (ii) catalysts, and (iii) meta-syntheses. This is done by ...

Kalecki's principle of increasing risk and keynesian economics

Kalecki was one of an important generation of Cambridge economists. Here, Tracy Mott's impressive book examines the relationship of Kalecki's economics to different economic areas and its relationship to major alternative schools, such as Keynes and Marx. Mott looks at Kalecki's 'principle ...

Keynes on monetary policy, finance and uncertainty

liquidity preference theory and the global financial crisis

This book provides a reassessment of Keynes' theory of liquidity preference. It argues that the failure of the Keynesian revolution to be made in either theory or practice owes importantly to the fact that the role of liquidity preference theory as a pivotal element in ...

Jevon's economics

William Stanley Jevons and the Cutting Edge of economics

William Stanley Jevons was one of the founding fathers of modern economic thought, whose work marked a new chapter in its history bridging the gap between classical and neo-classical economics. In this ambitious and incisive work, Bert Mosselmans provides a synthetic approach to Jevons' theory ...

Rosa Luxemburg and the critique of political economy

Table of Contents: 1. General Introduction: Rosa Luxemburg on Capitalist Dynamics, Distribution, and Effective Demand Crises 2. Rosa Luxemburg#s Critique of Marx#s Schemes of Reproduction: A Re-evaluation and a Possible Generalisation 3. Where Does the Money Come From? Rosa Luxemburg and the Marxian ...

The Decline of Ricardians economics

politics and economics in Post-Ricardian theory

The influence of political motivations on the decline of classical economics is an old debate amongst historians of economic thought. It has its roots in Karl Marx's suggestions in "Theories of Surplus Value". This book examines this question from a critical perspective using primary ...

Considerations on the fundamental principles of pure political economy

Between May 1892 and October 1893, the Giornale degli Economisti published Vilfredo Pareto's "Considerazioni sui principi fondamentali dell'economia politica pura" in 5 parts. Viewed in its entirety, the outcome is essentially a classic monograph on the fundamental issues in pure economic theory in ...

Keynes's theoretical development.

From the tract to the general theory

The principal objective of this book is to elucidate Keynes's development as an economic theoretician through examining his books, his articles, various manuscripts, lecture notes (very often taken by his students) and controversial correspondence. Hirai is not so much interested in relating a narrative ...

Making Chicago price theory

Friedman-Stigler correspondence 1945-1957

Milton Friedman and George J. Stigler shaped economics as we know it today - their Chicago School laid the groundwork for much of the neoclassical tradition in economic analysis. This book brings together a collection of letters from these two Noble laureates from the post-war years ...

The experiment in the history of economics

Until recently, there was long resistance to the idea that economics can lend itself to experimentation. Going back at least as far as John Stuart Mill and continuing until very recently, it was widely held that economics was not an experimental discipline. The contributions in ...

Economics, economists and expectations

microfoundations to macroapplications

Dealing with the origins and development of modern approaches to expectations in micro and macroeconomics, this book makes use of primary sources and previously unpublished material from such figures as Hicks, Hawtrey and Hart. The accounts of the 'founding fathers' of the models themselves are ...

Marshall's evolutionary economics

Classical macroeconomics

some modern variations and distortions

John Maynard Keynes failed to correctly interpret classic economic concepts, and dismissed the classical explanations and conclusions as being irrelevant to the world in which we live. The trauma of the Great Depression and Keynes's changed definition of economic concepts, aided by Eugen Bohm-Bawerk ...

The history of Game Theory

Volume I: From the beginnings to 1945

Game theory - the formal modelling of conflict and co-operation - first emerged as a recognized field with a publication of John von Neumann and Oskar Morgenstern's "Theory of Games and Economic Behaviour" in 1944. Since then, game-theoretic thinking about choice of strategies and the interdependence ...