Hardback
An Encyclopedia of Keynesian Economics, Second edition
2nd edition
9781849801720 Edward Elgar Publishing
The comprehensive Encyclopedia features accessible, informative and provocative contributions by leading international scholars working in the tradition of Keynes. It brings together widely dispersed yet theoretically congruent ideas, presents concise biographies of economists who have contributed to the debate on Keynes and the Keynesian Revolution, and outlines the basic principles, models and tools used to discuss the economic consequences of The General Theory. Longer entries on specific topics associated with Keynes and the Keynesian Revolution analyse the principal factors that contributed to The General Theory, the economics of Keynes and the rise and apparent decline of Keynesian economics in greater detail.
More Information
Critical Acclaim
Contributors
Contents
More Information
This thoroughly revised and updated second edition of a highly acclaimed and authoritative reference work introduces the major concepts in the field of Keynesian economics.
The comprehensive Encyclopedia features accessible, informative and provocative contributions by leading international scholars working in the tradition of Keynes. It brings together widely dispersed yet theoretically congruent ideas, presents concise biographies of economists who have contributed to the debate on Keynes and the Keynesian Revolution, and outlines the basic principles, models and tools used to discuss the economic consequences of The General Theory. Longer entries on specific topics associated with Keynes and the Keynesian Revolution analyse the principal factors that contributed to The General Theory, the economics of Keynes and the rise and apparent decline of Keynesian economics in greater detail.
The second edition will ensure that An Encyclopedia of Keynesian Economics will remain the best single reference source on Keynesian economics and will continue to be welcomed by academics, students and teachers of economics as well as by scholars in related social sciences and government policymakers.
The comprehensive Encyclopedia features accessible, informative and provocative contributions by leading international scholars working in the tradition of Keynes. It brings together widely dispersed yet theoretically congruent ideas, presents concise biographies of economists who have contributed to the debate on Keynes and the Keynesian Revolution, and outlines the basic principles, models and tools used to discuss the economic consequences of The General Theory. Longer entries on specific topics associated with Keynes and the Keynesian Revolution analyse the principal factors that contributed to The General Theory, the economics of Keynes and the rise and apparent decline of Keynesian economics in greater detail.
The second edition will ensure that An Encyclopedia of Keynesian Economics will remain the best single reference source on Keynesian economics and will continue to be welcomed by academics, students and teachers of economics as well as by scholars in related social sciences and government policymakers.
Critical Acclaim
Acclaim for the first edition:
‘This easy-to-read collection . . . tells the whole story. Filled with short, well-written pieces, the encyclopedia covers the names and ideas that preceded Keynes, that carried his work to the center of the profession, and that eventually supplanted him there . . . There are excellent and unexpected articles on the Austrian school, the Lausanne school, and the Ricardo effect. There are well-done pieces on all the basic theoretical models at the heart of Keynesianism . . . [the] volume has been well put together. The editors deserve special praise for letting each contributor tell his own story. Those who oppose Keynes’s ideas are just as well represented as those who carry the torch for him. This evenhandedness helps to ensure a volume that is truly representative and that will allow its users to get a full picture of the life and times of Keynesian economics.’
– Bradley W. Bateman, Grinnell College, US
‘The book will also be of some interest to serious scholars, partly because it includes biographies of many economists too young to have been included in the New Palgrave, such as Dornbusch, Fisher, Herschel Grossman, Kregel, Lucas, and Robert Townsend. It also includes some very interesting longer essays.’
– Peter Howitt, The Economic Journal
‘This book provides an excellent summary of the many strands of ‘Keynesian’- style thought both before and after 1936. Its well-considered entries take care to make explicit the assumptions and fundamental points of difference between theories too often concealed by the parents and advocates of specific theories in their zeal to promote the universality of the ideas. There is scarcely an entry that suffers from wordiness and repetition; the reader’s scarce time is not abused.’
– Elizabeth Webster, Economic Record
‘This reviewer found using this source exhilarating and endowed with additional interest in view of the 1997 discussion on the inclusion or noninclusion of Keynesian economics in introductory economics textbooks. The editors should be applauded for helping to preserve a part of intellectual heritage.’
– Bogdan Mieczkowski, American Reference Books
‘It is the best single reference source on Keynesian economics and will be welcomed by students and teachers in economics as well as scholars in related social sciences and government policy makers.’
– Educational Book Review
‘This easy-to-read collection . . . tells the whole story. Filled with short, well-written pieces, the encyclopedia covers the names and ideas that preceded Keynes, that carried his work to the center of the profession, and that eventually supplanted him there . . . There are excellent and unexpected articles on the Austrian school, the Lausanne school, and the Ricardo effect. There are well-done pieces on all the basic theoretical models at the heart of Keynesianism . . . [the] volume has been well put together. The editors deserve special praise for letting each contributor tell his own story. Those who oppose Keynes’s ideas are just as well represented as those who carry the torch for him. This evenhandedness helps to ensure a volume that is truly representative and that will allow its users to get a full picture of the life and times of Keynesian economics.’
– Bradley W. Bateman, Grinnell College, US
‘The book will also be of some interest to serious scholars, partly because it includes biographies of many economists too young to have been included in the New Palgrave, such as Dornbusch, Fisher, Herschel Grossman, Kregel, Lucas, and Robert Townsend. It also includes some very interesting longer essays.’
– Peter Howitt, The Economic Journal
‘This book provides an excellent summary of the many strands of ‘Keynesian’- style thought both before and after 1936. Its well-considered entries take care to make explicit the assumptions and fundamental points of difference between theories too often concealed by the parents and advocates of specific theories in their zeal to promote the universality of the ideas. There is scarcely an entry that suffers from wordiness and repetition; the reader’s scarce time is not abused.’
– Elizabeth Webster, Economic Record
‘This reviewer found using this source exhilarating and endowed with additional interest in view of the 1997 discussion on the inclusion or noninclusion of Keynesian economics in introductory economics textbooks. The editors should be applauded for helping to preserve a part of intellectual heritage.’
– Bogdan Mieczkowski, American Reference Books
‘It is the best single reference source on Keynesian economics and will be welcomed by students and teachers in economics as well as scholars in related social sciences and government policy makers.’
– Educational Book Review
Contributors
Contributors: J. Adams, M.S. Aguirre, C. Amsler, D.A. Anderson, J. Aschheim, H. Azari-Rad, J. Barbour, B. Bechtold, S.E. Beck, D. Besomi, R.A. Black, C.E. Bohanon, B.W. Bolch, M.D. Bordo, B.M. Braun, W. Breit, T.A. Burczak, N.J. Burnett, D.A. Campbell, T. Caporale, C. Carey, T. Cate, S. Chapple, H.R. Christensen, N. Churchman, G.E. Clayton, D. Colander, J. Cornwall, W. Darity Jr., J.B. Davis, R.W. Dimand, S. Dow, A.K. Dutt, B.T. Elmslie, D.W. Findlay, J. Fleck, J.L. Ford, C.S. Fraley, E.N. Gamber, R.W. Garrison, M.G. Giesbrecht, G. Gilbert, M.J. Gootzeit, F. Guo, P. Groenewegen, F. Guo, L.J. Haber, D.L. Hammes, G.C. Harcourt, R.L. Hetzel, D.J. Hoaas, B.K. Hobbs, R.P.F. Holt, L.M. Hooks, J.B. Horowitz, Y.S. Huang, T.M. Humphrey, W.K. Hutchinson, J.P. Jacobsen, S.A. Jacobsen, D.W. Jansen, M.C.W. Janssen, A. John, L.E. Johnson, L. Jonung, V. Kapuria-Foreman, S. Kates, A.B. Kline, V. Kumar, W.E. Laird, D. Landreth, H. Landreth, R. Leeson, R.D. Ley, A. Maneschi, J.N. Marshall, P.H. Matthews, M.J. McCrickard, R. McCulloch, E.J. McKenna, A. Millmow, P. Mizen, D.E. Moggridge, M.R. Montgomery, G.H. Moore, J. Morgan, A.R. Moshtagh, L.S. Moss, N.R. Noble, L. Noyd, R.I. Obar, T. Palivos, D.B. Papadimitriou, J.E. Payne, T.P. Potiowsky, J.R. Presley, M. Rahnama-Moghadam, L. Ramrattan, S. Rashid, R.J. Rotheim, H. Samavati, W.J. Samuels, P.A. Samuelson, R.J. Sandilands, F. Schneider, L. Servén, Y. Shionoya, S. Simkins, N.T. Skaggs, R. Skidelsky, R.M. Solow, L.C. Spector, F.G. Steindl, Q. Su, L.P. Syll, M. Szenberg, G.S. Tavlas, H.-M. Trautwein, H. Uzawa, H.R. Vane, K.I. Vaughn, A.I. Veramallay, D.A. Walker, C. Waller, L.S. Wilson, J.S. Wood, L.R. Wray, W.P. Yohe, J.T. Young, D.C. Zannoni
Contents
Contents:
Introduction to the Second Edition
Absolute Income Hypothesis
Accelerator Principle
Ackley, Hugh Gardner
Adjustment Mechanisms of the Basic Classical and Keynesian Models
Aggregate Demand–Aggregate Supply Model and Diagram
Arrow, Kenneth J.
Austrian School of Economics
Automatic Stabilizers
Balance of Payments: Keynesian and Monetarist Approaches
Baumol, William J.
Bloomsbury Group
Boulding, Kenneth E.
Bretton Woods
Brown, Arthur J.
Brunner, Karl
Burns, Arthur F.
Business Cycle Theory (I)
Business Cycle Theory (II)
Cagan, Phillip D.
Cambridge Circus
Cassel, Gustav
Champernowne, David G.
Chicago School of Economics
Clark, Colin
Classical Economics
Clower, Robert W.
Consumption and the Consumption Function
Coordination Failures and Keynesian Economics
Crowding Out
Currie, Lauchlin
Davidson, Paul
Deficits: Cyclical and Structural
Demand Management
Depression, The Great
Dillard, Dudley
Domar, Evsey D.
Dornbusch, Rudiger
Dual Decision Hypothesis
Dynamic Stochastic General Equilibrium Models
Econometric Models, Macroeconomic
Economics of Keynes and of his Revolution, Key Elements of the
Economics, The Art of
Edgeworth, Francis Y.
Employment Act of 1946
Expectations, Theories of
Fellner, William J.
Fiscal Policy
Fischer, Stanley
Friedman, Milton
Frisch, Ragnar
Full Employment Budget
Functional Finance
Galbraith, John K.
Gesell, Silvio
Government Investment Programs (the Socialization of Investment)
Grossman, Herschel I.
Haavelmo, Trygve
Hahn, Frank H.
Hansen, Alvin H.
Harcourt, Geoff C.
Harrod, Sir Roy
Hawtrey, Sir Ralph
Hayek, Friedrich A. von
Heckman, James J.
Heller, Walter W.
Henderson, Sir Hubert D.
Hicks, Sir John R.
Incomes Policies
Inflation
Interest, Theories of
International Clearing Union
IS/LM Model and Diagram
Johnson, Harry Gordon
Jorgenson, Dale W.
Kahn, Lord Richard F.
Kaldor, Lord Nicholas
Kalecki, Michał
Keynes, John Maynard
Keynes, John N.
Keynes and Probability
Keynes, The Influence of Burke and Moore on
Keynes?, What Remains of
Keynes’s Economics, National Income Accounting Activism and
Keynesian Cross
Keynesian Economics, Deficit Finance in
Keynesian Indicators
Keynesian Revolution
Keynesianism in America
Klein, Lawrence R.
Kregel, Jan A.
Kuznets, Simon
Lausanne, The School of
Leijonhufvud, Axel
Lender of Last Resort
Leontief, Wassily W.
Lerner, Abba P.
Life Cycle Hypothesis
Lipsey, Richard G.
Liquidity Trap
Lucas, Jr., Robert E.
Lucas Critique
Lundberg, Erik
Machlup, Fritz
Malinvaud, Edmond
Markowitz, Harry M.
Marshall, Alfred
Marshall and Keynes
McFadden, Daniel
Meade, James E.
Meltzer, Allan H.
Merton, Robert C. and Myron S. Scholes
Metzler, Lloyd A.
Microfoundations of Macroeconomics
Minsky, Hyman P.
Modigliani, Franco
Monetary Policy
Monetizing the (Federal) Debt
Money
Multiplier Effect
Mundell, Robert A.
Mundell–Fleming Model
Myrdal, Gunnar
Neoclassical Synthesis (Bastard Keynesianism)
New Classical School of Economics
New Keynesian Macroeconomics
Niemeyer, Sir Otto E.
Ohlin, Bertil
Okun, Arthur M.
Okun’s Law
Permanent Income Hypothesis
Phillips, A.W.H.
Phillips Curve
Pigou, Arthur C.
Post Keynesian School of Economics
Post Walrasian Economics
Prospect Theory
Quantity Theory of Money
Real Balance Effect
Relative Income Hypothesis
Ricardian Equivalence
Ricardo Effect
Robbins, Lord Lionel
Robertson, Sir Dennis H.
Robinson, Joan
Rothschild, Kurt W.
Samuelson, Paul A.
Say’s Law
Schumpeter, Joseph A.
Schwartz, Anna J.
Shackle, G.L.S.
Sharpe, William F.
Solow, Robert M.
Sraffa, Piero
Stein, Herbert
Stockholm School of Economics
Stone, Sir John Richard N.
Structured Financial Products
Swan, Trevor W.
Tarshis, Lorie
Tobin, James
Townsend, Robert
Treasury View
Viner, Jacob
Weintraub, Sidney
White, Harry D.
Wicksell, Knut
Introduction to the Second Edition
Absolute Income Hypothesis
Accelerator Principle
Ackley, Hugh Gardner
Adjustment Mechanisms of the Basic Classical and Keynesian Models
Aggregate Demand–Aggregate Supply Model and Diagram
Arrow, Kenneth J.
Austrian School of Economics
Automatic Stabilizers
Balance of Payments: Keynesian and Monetarist Approaches
Baumol, William J.
Bloomsbury Group
Boulding, Kenneth E.
Bretton Woods
Brown, Arthur J.
Brunner, Karl
Burns, Arthur F.
Business Cycle Theory (I)
Business Cycle Theory (II)
Cagan, Phillip D.
Cambridge Circus
Cassel, Gustav
Champernowne, David G.
Chicago School of Economics
Clark, Colin
Classical Economics
Clower, Robert W.
Consumption and the Consumption Function
Coordination Failures and Keynesian Economics
Crowding Out
Currie, Lauchlin
Davidson, Paul
Deficits: Cyclical and Structural
Demand Management
Depression, The Great
Dillard, Dudley
Domar, Evsey D.
Dornbusch, Rudiger
Dual Decision Hypothesis
Dynamic Stochastic General Equilibrium Models
Econometric Models, Macroeconomic
Economics of Keynes and of his Revolution, Key Elements of the
Economics, The Art of
Edgeworth, Francis Y.
Employment Act of 1946
Expectations, Theories of
Fellner, William J.
Fiscal Policy
Fischer, Stanley
Friedman, Milton
Frisch, Ragnar
Full Employment Budget
Functional Finance
Galbraith, John K.
Gesell, Silvio
Government Investment Programs (the Socialization of Investment)
Grossman, Herschel I.
Haavelmo, Trygve
Hahn, Frank H.
Hansen, Alvin H.
Harcourt, Geoff C.
Harrod, Sir Roy
Hawtrey, Sir Ralph
Hayek, Friedrich A. von
Heckman, James J.
Heller, Walter W.
Henderson, Sir Hubert D.
Hicks, Sir John R.
Incomes Policies
Inflation
Interest, Theories of
International Clearing Union
IS/LM Model and Diagram
Johnson, Harry Gordon
Jorgenson, Dale W.
Kahn, Lord Richard F.
Kaldor, Lord Nicholas
Kalecki, Michał
Keynes, John Maynard
Keynes, John N.
Keynes and Probability
Keynes, The Influence of Burke and Moore on
Keynes?, What Remains of
Keynes’s Economics, National Income Accounting Activism and
Keynesian Cross
Keynesian Economics, Deficit Finance in
Keynesian Indicators
Keynesian Revolution
Keynesianism in America
Klein, Lawrence R.
Kregel, Jan A.
Kuznets, Simon
Lausanne, The School of
Leijonhufvud, Axel
Lender of Last Resort
Leontief, Wassily W.
Lerner, Abba P.
Life Cycle Hypothesis
Lipsey, Richard G.
Liquidity Trap
Lucas, Jr., Robert E.
Lucas Critique
Lundberg, Erik
Machlup, Fritz
Malinvaud, Edmond
Markowitz, Harry M.
Marshall, Alfred
Marshall and Keynes
McFadden, Daniel
Meade, James E.
Meltzer, Allan H.
Merton, Robert C. and Myron S. Scholes
Metzler, Lloyd A.
Microfoundations of Macroeconomics
Minsky, Hyman P.
Modigliani, Franco
Monetary Policy
Monetizing the (Federal) Debt
Money
Multiplier Effect
Mundell, Robert A.
Mundell–Fleming Model
Myrdal, Gunnar
Neoclassical Synthesis (Bastard Keynesianism)
New Classical School of Economics
New Keynesian Macroeconomics
Niemeyer, Sir Otto E.
Ohlin, Bertil
Okun, Arthur M.
Okun’s Law
Permanent Income Hypothesis
Phillips, A.W.H.
Phillips Curve
Pigou, Arthur C.
Post Keynesian School of Economics
Post Walrasian Economics
Prospect Theory
Quantity Theory of Money
Real Balance Effect
Relative Income Hypothesis
Ricardian Equivalence
Ricardo Effect
Robbins, Lord Lionel
Robertson, Sir Dennis H.
Robinson, Joan
Rothschild, Kurt W.
Samuelson, Paul A.
Say’s Law
Schumpeter, Joseph A.
Schwartz, Anna J.
Shackle, G.L.S.
Sharpe, William F.
Solow, Robert M.
Sraffa, Piero
Stein, Herbert
Stockholm School of Economics
Stone, Sir John Richard N.
Structured Financial Products
Swan, Trevor W.
Tarshis, Lorie
Tobin, James
Townsend, Robert
Treasury View
Viner, Jacob
Weintraub, Sidney
White, Harry D.
Wicksell, Knut