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Paul A. Samuelson, John R. Hicks, Kenneth J. Arrow, Gerard Debreu and Maurice F.C. Allais
This groundbreaking series brings together a critical selection of key papers by the Nobel Memorial Laureates in Economics that have helped shape the development and present state of economics. The editors have organised this comprehensive series by theme and each volume focuses on those Laureates working in the same broad area of study. The careful selection of papers within each volume is set in context by an insightful introduction to the Laureates’ careers and main published works. This landmark series will be an essential reference for scholars throughout the world.
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Critical Acclaim
Contributors
Contents
More Information
This groundbreaking series brings together a critical selection of key papers by the Nobel Memorial Laureates in Economics that have helped shape the development and present state of economics. The editors have organised this comprehensive series by theme and each volume focuses on those Laureates working in the same broad area of study. The careful selection of papers within each volume is set in context by an insightful introduction to the Laureates’ careers and main published works. This landmark series will be an essential reference for scholars throughout the world.
Critical Acclaim
‘What a brilliant idea! To provide readers with both information on the Nobel Laureates in Economics and, to the degree possible, the original papers for which they were honored. The names of the “contributing” Laureates speak for themselves. Howard Vane and Chris Mulhearn, the editors, and Edward Elgar, the publisher, are to be congratulated for putting the idea into effect.’
– Warren J. Samuels, Michigan State University, US
‘These volumes complement Vane and Mulhearn’s critically acclaimed book, The Nobel Memorial Laureates in Economics, and are an indispensable guide to key developments in modern economics.’
– The late Mark Blaug, formerly of the University of London and University of Buckingham, UK
‘The nature, content and boundaries of economics are changing. There is no better way of examining the key contributions that have shaped the discipline in the last half century than by looking at the pioneering works of the Nobel Laureates in Economics. These volumes not only provide a treasure house of material of high intrinsic worth, but also help us to understand what kind of approaches and ideas have been successful in persuading other economists, and thereby provide valuable material for understanding the evolution of the discipline. The idea behind this series of volumes is brilliant.’
– Geoffrey M. Hodgson, University of Hertfordshire Business School, UK
– Warren J. Samuels, Michigan State University, US
‘These volumes complement Vane and Mulhearn’s critically acclaimed book, The Nobel Memorial Laureates in Economics, and are an indispensable guide to key developments in modern economics.’
– The late Mark Blaug, formerly of the University of London and University of Buckingham, UK
‘The nature, content and boundaries of economics are changing. There is no better way of examining the key contributions that have shaped the discipline in the last half century than by looking at the pioneering works of the Nobel Laureates in Economics. These volumes not only provide a treasure house of material of high intrinsic worth, but also help us to understand what kind of approaches and ideas have been successful in persuading other economists, and thereby provide valuable material for understanding the evolution of the discipline. The idea behind this series of volumes is brilliant.’
– Geoffrey M. Hodgson, University of Hertfordshire Business School, UK
Contributors
29 articles, dating from 1934 to 2004
Contents
Contents:
Acknowledgements
General Introduction Howard R. Vane and Chris Mulhearn
PART I PAUL A. SAMUELSON
Introduction to Part I: Paul A. Samuelson (1915–2009)
1. P.A. Samuelson (1938), ‘A Note on the Pure Theory of Consumer’s Behaviour’
2. Paul A. Samuelson (1939a), ‘Interactions Between the Multiplier Analysis and the Principle of Acceleration’
3. Paul A. Samuelson (1939b), ‘The Gains from International Trade’
4. Wolfgang F. Stolper and Paul A. Samuelson (1941), ‘Protection and Real Wages’
5. Paul A. Samuelson (1948), ‘International Trade and the Equalisation of Factor Prices’
6. Paul A. Samuelson (1954), ‘The Pure Theory of Public Expenditure’
7. Paul A. Samuelson (1958), ‘An Exact Consumption-Loan Model of Interest With or Without the Social Contrivance of Money’
8. Paul A. Samuelson (2004), ‘Where Ricardo and Mill Rebut and Confirm Arguments of Mainstream Economists Supporting Globalization’, ‘Appendix 1: A Three-Good Free Trade Equilibrium’ and ‘Appendix 2: Inelastic Demand Can Cause Inventions to Reduce Welfare’
PART II JOHN R. HICKS
Introduction to Part II: John R. Hicks (1904–89)
9. J.R. Hicks and R.D.G. Allen (1934), ‘A Reconsideration of the Theory of Value, Part I’
10. J.R. Hicks and R.D.G. Allen (1934), ‘A Reconsideration of the Theory of Value, Part II: A Mathematical Theory of Individual Demand Functions’
11. J.R. Hicks (1935), ‘A Suggestion for Simplifying the Theory of Money’
12. J.R. Hicks (1937), ‘Mr. Keynes and the “Classics”; A Suggested Interpretation’
13. J.R. Hicks (1939), ‘The Foundations of Welfare Economics’
PART III KENNETH J. ARROW
Introduction to Part III: Kenneth J. Arrow (b. 1921)
14. Kenneth J. Arrow (1951), ‘An Extension of the Basic Theorems of Classical Welfare Economics’
15. Kenneth J. Arrow and Gerard Debreu (1954), ‘Existence of an Equilibrium for a Competitive Economy’
16. Kenneth J. Arrow and Leonid Hurwicz (1958), ‘On the Stability of the Competitive Equilibrium, I’
17. Kenneth J. Arrow, H.D. Block and Leonid Hurwicz (1959), ‘On the Stability of the Competitive Equilibrium, II’
18. K.J. Arrow, H.B. Chenery, B.S. Minhas and R.M. Solow (1961), ‘Capital-Labor Substitution and Economic Efficiency’
19. Kenneth J. Arrow (1962), ‘The Economic Implications of Learning by Doing’
PART IV GERARD DEBREU
Introduction to Part IV: Gerard Debreu (b. 1921)
20. Gerard Debreu and Herbert Scarf (1963), ‘A Limit Theorem on the Core of an Economy’
21. Gerard Debreu (1970), ‘Economies with a Finite Set of Equilibria’
22. Gerard Debreu (1972), ‘Smooth Preferences’
23. Gerard Debreu (1974), ‘Excess Demand Functions’
24. Gerard Debreu (1975), ‘The Rate of Convergence of the Core of an Economy’
25. Gerard Debreu (1984), ‘Economic Theory in the Mathematical Mode’
PART V MAURICE F.C. ALLAIS
Introduction to Part V: Maurice F.C. Allais (b.1911)
26. M. Allais (1953a), ‘L’Extension des Théories de l’Equilibre Economique Général et du Rendement Social au Cas du Risque’
27. Maurice Allais (1953b), ‘Le Comportement de l’Homme Rationnel devant le Risque: Critique des Postulats et Axiomes de l’Ecole Américaine’
28. Maurice Allais (1962), ‘The Influence of the Capital-Output Ratio on Real National Income’
29. Maurice Allais (1997), ‘An Outline of My Main Contributions to Economic Science’
Acknowledgements
General Introduction Howard R. Vane and Chris Mulhearn
PART I PAUL A. SAMUELSON
Introduction to Part I: Paul A. Samuelson (1915–2009)
1. P.A. Samuelson (1938), ‘A Note on the Pure Theory of Consumer’s Behaviour’
2. Paul A. Samuelson (1939a), ‘Interactions Between the Multiplier Analysis and the Principle of Acceleration’
3. Paul A. Samuelson (1939b), ‘The Gains from International Trade’
4. Wolfgang F. Stolper and Paul A. Samuelson (1941), ‘Protection and Real Wages’
5. Paul A. Samuelson (1948), ‘International Trade and the Equalisation of Factor Prices’
6. Paul A. Samuelson (1954), ‘The Pure Theory of Public Expenditure’
7. Paul A. Samuelson (1958), ‘An Exact Consumption-Loan Model of Interest With or Without the Social Contrivance of Money’
8. Paul A. Samuelson (2004), ‘Where Ricardo and Mill Rebut and Confirm Arguments of Mainstream Economists Supporting Globalization’, ‘Appendix 1: A Three-Good Free Trade Equilibrium’ and ‘Appendix 2: Inelastic Demand Can Cause Inventions to Reduce Welfare’
PART II JOHN R. HICKS
Introduction to Part II: John R. Hicks (1904–89)
9. J.R. Hicks and R.D.G. Allen (1934), ‘A Reconsideration of the Theory of Value, Part I’
10. J.R. Hicks and R.D.G. Allen (1934), ‘A Reconsideration of the Theory of Value, Part II: A Mathematical Theory of Individual Demand Functions’
11. J.R. Hicks (1935), ‘A Suggestion for Simplifying the Theory of Money’
12. J.R. Hicks (1937), ‘Mr. Keynes and the “Classics”; A Suggested Interpretation’
13. J.R. Hicks (1939), ‘The Foundations of Welfare Economics’
PART III KENNETH J. ARROW
Introduction to Part III: Kenneth J. Arrow (b. 1921)
14. Kenneth J. Arrow (1951), ‘An Extension of the Basic Theorems of Classical Welfare Economics’
15. Kenneth J. Arrow and Gerard Debreu (1954), ‘Existence of an Equilibrium for a Competitive Economy’
16. Kenneth J. Arrow and Leonid Hurwicz (1958), ‘On the Stability of the Competitive Equilibrium, I’
17. Kenneth J. Arrow, H.D. Block and Leonid Hurwicz (1959), ‘On the Stability of the Competitive Equilibrium, II’
18. K.J. Arrow, H.B. Chenery, B.S. Minhas and R.M. Solow (1961), ‘Capital-Labor Substitution and Economic Efficiency’
19. Kenneth J. Arrow (1962), ‘The Economic Implications of Learning by Doing’
PART IV GERARD DEBREU
Introduction to Part IV: Gerard Debreu (b. 1921)
20. Gerard Debreu and Herbert Scarf (1963), ‘A Limit Theorem on the Core of an Economy’
21. Gerard Debreu (1970), ‘Economies with a Finite Set of Equilibria’
22. Gerard Debreu (1972), ‘Smooth Preferences’
23. Gerard Debreu (1974), ‘Excess Demand Functions’
24. Gerard Debreu (1975), ‘The Rate of Convergence of the Core of an Economy’
25. Gerard Debreu (1984), ‘Economic Theory in the Mathematical Mode’
PART V MAURICE F.C. ALLAIS
Introduction to Part V: Maurice F.C. Allais (b.1911)
26. M. Allais (1953a), ‘L’Extension des Théories de l’Equilibre Economique Général et du Rendement Social au Cas du Risque’
27. Maurice Allais (1953b), ‘Le Comportement de l’Homme Rationnel devant le Risque: Critique des Postulats et Axiomes de l’Ecole Américaine’
28. Maurice Allais (1962), ‘The Influence of the Capital-Output Ratio on Real National Income’
29. Maurice Allais (1997), ‘An Outline of My Main Contributions to Economic Science’