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Author: Dario Togati
Publisher: Routledge
ISBN: 113467029X
Category : Business & Economics
Languages : en
Pages : 408
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Book Description
This book is a critical assessment of the Neoclassical Synthesis, long regarded as the standard interpretation of Keynes. It offers a fresh interpretation of Keynes and makes an important contribution to post-Keynesian economics
Author: Dario Togati
Publisher: Routledge
ISBN: 113467029X
Category : Business & Economics
Languages : en
Pages : 408
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Book Description
This book is a critical assessment of the Neoclassical Synthesis, long regarded as the standard interpretation of Keynes. It offers a fresh interpretation of Keynes and makes an important contribution to post-Keynesian economics
Author: Michel De Vroey
Publisher: Cambridge University Press
ISBN: 0521898439
Category : Business & Economics
Languages : en
Pages : 451
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Book Description
This book retraces the history of macroeconomics from Keynes's General Theory to the present. Central to it is the contrast between a Keynesian era and a Lucasian - or dynamic stochastic general equilibrium (DSGE) - era, each ruled by distinct methodological standards. In the Keynesian era, the book studies the following theories: Keynesian macroeconomics, monetarism, disequilibrium macro (Patinkin, Leijongufvud, and Clower) non-Walrasian equilibrium models, and first-generation new Keynesian models. Three stages are identified in the DSGE era: new classical macro (Lucas), RBC modelling, and second-generation new Keynesian modeling. The book also examines a few selected works aimed at presenting alternatives to Lucasian macro. While not eschewing analytical content, Michel De Vroey focuses on substantive assessments, and the models studied are presented in a pedagogical and vivid yet critical way.
Author: Robert R. Russell
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 488
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Book Description
Integrates mathematical, verbal (providing intuition for mathematical results), and graphical (illustrating the result for special two-variable cases) approaches in the exposition of theory. Includes modern economic theory topics not usually presented in microeconomics texts, such as preference theory, economic externalities and Pareto optimality, public commodities, and theory of social choice and collective rationality. Contains historical notes, suggested readings, and a variety of problems and exercises.
Author: Stephen A. Marglin
Publisher: Harvard University Press
ISBN: 0674971027
Category : Business & Economics
Languages : en
Pages : 921
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Book Description
Back to the future: a heterodox economist rewrites Keynes's General Theory of Employment, Interest, and Money to serve as the basis for a macroeconomics for the twenty-first century. John Maynard Keynes's General Theory of Employment, Interest, and Money was the most influential economic idea of the twentieth century. But, argues Stephen Marglin, its radical implications were obscured by Keynes's lack of the mathematical tools necessary to argue convincingly that the problem was the market itself, as distinct from myriad sources of friction around its margins. Marglin fills in the theoretical gaps, revealing the deeper meaning of the General Theory. Drawing on eight decades of discussion and debate since the General Theory was published, as well as on his own research, Marglin substantiates Keynes's intuition that there is no mechanism within a capitalist economy that ensures full employment. Even if deregulating the economy could make it more like the textbook ideal of perfect competition, this would not address the problem that Keynes identified: the potential inadequacy of aggregate demand. Ordinary citizens have paid a steep price for the distortion of Keynes's message. Fiscal policy has been relegated to emergencies like the Great Recession. Monetary policy has focused unduly on inflation. In both cases the underlying rationale is the false premise that in the long run at least the economy is self-regulating so that fiscal policy is unnecessary and inflation beyond a modest 2 percent serves no useful purpose. Fleshing out Keynes's intuition that the problem is not the warts on the body of capitalism but capitalism itself, Raising Keynes provides the foundation for a twenty-first-century macroeconomics that can both respond to crises and guide long-run policy.
Author: Ian Shapiro
Publisher: Yale University Press
ISBN: 0300189753
Category : Political Science
Languages : en
Pages : 303
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Book Description
When do governments merit our allegiance, and when should they be denied it? Ian Shapiro explores this most enduring of political dilemmas in this innovative and engaging book. Building on his highly popular Yale courses, Professor Shapiro evaluates the main contending accounts of the sources of political legitimacy. Starting with theorists of the Enlightenment, he examines the arguments put forward by utilitarians, Marxists, and theorists of the social contract. Next he turns to the anti-Enlightenment tradition that stretches from Edmund Burke to contemporary post-modernists. In the last part of the book Shapiro examines partisans and critics of democracy from Plato’s time until our own. He concludes with an assessment of democracy’s strengths and limitations as the font of political legitimacy. The book offers a lucid and accessible introduction to urgent ongoing conversations about the sources of political allegiance.
Author: Stephen A. Ross
Publisher: Princeton University Press
ISBN: 1400830206
Category : Business & Economics
Languages : en
Pages : 120
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Book Description
Neoclassical Finance provides a concise and powerful account of the underlying principles of modern finance, drawing on a generation of theoretical and empirical advances in the field. Stephen Ross developed the no arbitrage principle, tying asset pricing to the simple proposition that there are no free lunches in financial markets, and jointly with John Cox he developed the related concept of risk-neutral pricing. In this book Ross makes a strong case that these concepts are the fundamental pillars of modern finance and, in particular, of market efficiency. In an efficient market prices reflect the information possessed by the market and, as a consequence, trading schemes using commonly available information to beat the market are doomed to fail. By stark contrast, the currently popular stance offered by behavioral finance, fueled by a number of apparent anomalies in the financial markets, regards market prices as subject to the psychological whims of investors. But without any appeal to psychology, Ross shows that neoclassical theory provides a simple and rich explanation that resolves many of the anomalies on which behavioral finance has been fixated. Based on the inaugural Princeton Lectures in Finance, sponsored by the Bendheim Center for Finance of Princeton University, this elegant book represents a major contribution to the ongoing debate on market efficiency, and serves as a useful primer on the fundamentals of finance for both scholars and practitioners.
Author: John Eatwell
Publisher: Springer
ISBN: 1349213152
Category : Business & Economics
Languages : en
Pages : 766
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Book Description
What are the central questions of economics and how do economists tackle them? This book aims to answer these questions in 100 essays, written by economists and selected from "The New Palgrave: A Dictionary of Economics". It shows how economists deal with issues ranging from trade to taxation.
Author: Roger E. Backhouse
Publisher: Cambridge University Press
ISBN: 110702319X
Category : Business & Economics
Languages : en
Pages : 239
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Book Description
Since the 1950s, macroeconomics has been transformed. This book is about one of the most important aspects of that transformation: the attempt, through the end of the twenty-first century and beyond, to construct macroeconomic models rigorously derived from models of individual firms and households.
Author: Alessandro Roncaglia
Publisher: Cambridge University Press
ISBN: 1108478441
Category : Business & Economics
Languages : en
Pages : 453
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Book Description
A wide-ranging historical account and critical analysis of the global development of economics from 1940 to the present day.
Author: Lefteris Tsoulfidis
Publisher: Springer Science & Business Media
ISBN: 3540926933
Category : Business & Economics
Languages : en
Pages : 389
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Book Description
1. 1 Introduction This book was born out of our reaction to the way in which the usual texts cover the subject of the history of economic thought. In most of these texts, there is a tendency to emphasize the similarities and differences between all the important economists and form a repository of encyclopedic knowledge where one can study the seemingly important economic ideas. In this book, we argue that it is much more fruitful to focus on the essential ideas of each and every school of economic thought and relate them to present-day problems, than to engage into a sterile discussion of the ideas and the lives of the great economists of the past. Thus, although this book deals with the history of economic thought, it does not necessarily follow a historic (in the sense of the order of presentation) approach, but rather a logical one, that is to say it deals with the social conditions associated with the emergence of a school of economic thought, its evolution, and its contemporary in?uence. One cannot write a book on the history of economic thought without writing separate chapters on the major economists of the past, that is, Adam Smith, David Ricardo, Karl Marx, and J. M. Keynes. Of course these economists formed schools of economic thought, that is, the classical and the Keynesian.
