The Revival of Laissez-faire in American Macroeconomic Theory PDF Download
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Author: Sherryl Davis Kasper
Publisher: Edward Elgar Publishing
ISBN: 9781843765608
Category : Business & Economics
Languages : en
Pages : 190
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Book Description
'I find The Revival of Laissez-Faire informative, especially as a survey of the ideas of the six economists, each of whom was no doubt at the front in the intellectual battle over laissez-faire. The book is a good source on an important slice of twentieth century economics for undergraduate history of economics course.' - J. Daniel Hammond, Journal of the History of Economic Thought In the 1970s, the Keynesian orthodoxy in macroeconomics began to break down. In direct contrast to Keynesian recommendations of discretionary policy, models advocating laissez-faire came to the forefront of economic theory. Laissez-faire no longer stood as an exceptional policy endorsed for rare occurrences of market clearing; rather it became the policy standard. This book provides the definitive account of this watershed and traces the evolution of laissez-faire using the cases of its proponents, Frank Knight, Henry Simons, Friedrich von Hayek, Milton Friedman, James Buchanan and Robert Lucas. By elucidating the pre-analytical framework of their writings, Sherryl Kasper accounts for the ideological influence of these pioneers on theoretical work, and illustrates that they played a primary role in founding the theoretical and philosophical use of rules as the basis of macroeconomic policy. A case study of the way in which interwar pluralism transcended to postwar neoclassicism is also featured.
Author: Sherryl Davis Kasper
Publisher: Edward Elgar Publishing
ISBN: 9781843765608
Category : Business & Economics
Languages : en
Pages : 190
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Book Description
'I find The Revival of Laissez-Faire informative, especially as a survey of the ideas of the six economists, each of whom was no doubt at the front in the intellectual battle over laissez-faire. The book is a good source on an important slice of twentieth century economics for undergraduate history of economics course.' - J. Daniel Hammond, Journal of the History of Economic Thought In the 1970s, the Keynesian orthodoxy in macroeconomics began to break down. In direct contrast to Keynesian recommendations of discretionary policy, models advocating laissez-faire came to the forefront of economic theory. Laissez-faire no longer stood as an exceptional policy endorsed for rare occurrences of market clearing; rather it became the policy standard. This book provides the definitive account of this watershed and traces the evolution of laissez-faire using the cases of its proponents, Frank Knight, Henry Simons, Friedrich von Hayek, Milton Friedman, James Buchanan and Robert Lucas. By elucidating the pre-analytical framework of their writings, Sherryl Kasper accounts for the ideological influence of these pioneers on theoretical work, and illustrates that they played a primary role in founding the theoretical and philosophical use of rules as the basis of macroeconomic policy. A case study of the way in which interwar pluralism transcended to postwar neoclassicism is also featured.
Author: Thomas O. McGarity
Publisher: Yale University Press
ISBN: 0300195214
Category : Political Science
Languages : en
Pages : 519
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Book Description
DIV How much economic freedom is a good thing? This book tells the story of how the business community, and the trade associations and think tanks that it created, launched three powerful assaults during the last quarter of the twentieth century on the federal regulatory system and the state civil justice system to accomplish a revival of the laissez faire political economy that dominated Gilded Age America. Although the consequences of these assaults became painfully apparent in a confluence of crises during the early twenty-first century, the patch-and-repair fixes that Congress and the Obama administration put into place did little to change the underlying laissez faire ideology and practice that continues to dominate the American political economy. In anticipation of the next confluence of crises, Thomas McGarity offers suggestions for more comprehensive governmental protections for consumers, workers, and the environment. /div
Author: R. Dimand
Publisher: Springer
ISBN: 0230276148
Category : Business & Economics
Languages : en
Pages : 329
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Book Description
This book provides a comprehensive overview of Keynes' contributions to macroeconomics and offers an in-depth analysis of the contested legacy of The General Theory, a book that marked the emergence of modern macroeconomics from the earlier heritage of monetary theory and business cycle and analysis.
Author: Kemi Ogunyemi
Publisher: Business Expert Press
ISBN: 1606497952
Category : Business & Economics
Languages : en
Pages : 416
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Book Description
The chief executive officer (CEO) of a corporation and his or her executive team are responsible for the management of the business and its continued operating and financial success. The CEO and executive team are almost always highly compensated and the relative total compensation has mushroomed over time. Most of the compensation now is designed to be performance-based, but leading to charges that executives have incentives to manipulate corporate earnings and stock price in the short-term for their own self interests. The compensation at some companies became so egregious that compensation again became a major public policy issue subject to federal regulation. Executive Compensation focuses on the major topics related to executive compensation—present, past, and future. First, is understanding what executive compensation is, including composition and objectives of pay contracts. Second, how do specific compensation agreements affect corporate behavior and performance? Third, what are the major components, including how and what are accounted for and disclosed? How is compensation, especially executive compensation, accounted for—that is, what are the calculations and journal entries required? Fourth, what does historical analysis tell us about the topic, especially how contractual decisions have been made and what has worked. Finally, what is in store for the future—both expected compensation agreements and what the compensation incentives suggest for future corporate decisions on operations and accounting manipulation.
Author: Michael J Thompson
Publisher: Columbia University Press
ISBN: 0231511728
Category : Political Science
Languages : en
Pages : 264
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Book Description
Since the early days of the American republic, political thinkers have maintained that a grossly unequal division of property, wealth, and power would lead to the erosion of democratic life. Yet over the past thirty-five years, neoconservatives and neoliberals alike have redrawn the tenets of American liberalism. Nowhere is this more evident than in our current mainstream political discourse, in which the politics of economic inequality are rarely discussed. In this impassioned book, Michael J. Thompson reaches back into America's rich intellectual history to reclaim the politics of inequality from the distortion of recent American conservatism. He begins by tracing the development of the idea of economic inequality as it has been conceived by political thinkers throughout American history. Then he considers the change in ideas and values that have led to the acceptance and occasional legitimization of economic divisions. Thompson argues that American liberalism has made a profound departure from its original practice of egalitarian critique. It has all but abandoned its antihierarchical and antiaristocratic discourse. Only by resuscitating this tradition can democracy again become meaningful to Americans. The intellectuals who pioneered egalitarian thinking in America believed political and social relations should be free from all forms of domination, servitude, and dependency. They wished to expose the antidemocratic character of economic life under capitalism and hoped to prevent the kind of inequalities that compromise human dignity and freedom-the core principles of early American politics. In their wisdom is a much broader, more compelling view of democratic life and community than we have today, and with this book, Thompson eloquently and adamantly fights to recover this crucial strand of political thought. In this impassioned book, Michael J. Thompson reaches back into America's rich intellectual history to reclaim the politics of inequality from the distortion of recent American conservatism. He begins by tracing the development of the idea of economic inequality as it has been conceived by political thinkers throughout American history. Then he considers the change in ideas and values that have led to the acceptance and occasional legitimization of economic divisions. Thompson argues that American liberalism has made a profound departure from its original practice of egalitarian critique; it has all but abandoned its antihierarchical and antiaristocratic discourse. Only by resuscitating this tradition can democracy again become meaningful to Americans. The intellectuals who pioneered egalitarian thinking in America believed political and social relations should be free from all forms of domination, servitude, and dependency. They wished to expose the antidemocratic character of economic life under capitalism and hoped to prevent the kind of inequalities that compromise human dignity and freedom—the core principles of early American politics. In their wisdom is a much broader, more compelling view of democratic life and community than we have today, and with this book, Thompson eloquently and adamantly fights to recover this crucial strand of political thought.
Author: Steven Pressman
Publisher: Routledge
ISBN: 1136026886
Category : Business & Economics
Languages : en
Pages : 352
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Book Description
An introduction to the life, work and ideas of the people who have shaped the economic landscape from the sixteenth century to the present day. Now in a third edition, it considers how major economists might have viewed challenges such as the continuing economic slump, high unemployment and the sovereign debt problems which face the world today, it includes entries on: • Paul Krugman • Hyman Minsky • John Maynard Keynes • Adam Smith • Irving Fisher • James Buchanan Fifty Major Economists contains brief biographical information on each featured economist and an explanation of their major contributions to economics, along with simple illustrations of their ideas. With reference to the recent work of living economists, guides to the best of recent scholarship and a glossary of terms, Fifty Major Economists is an ideal resource for students of economics. Steven Pressman is Professor of Economics and Finance at Monmouth University. He has published around 120 articles in refereed journals and as book chapters, and has authored, or edited 13 books, including Women in the Age of Economic Transformation, Economics and Its Discontents, Alternative Theories of the State, and Leading Contemporary Economists.
Author: Ingrid H. Rima
Publisher: Routledge
ISBN: 1134879245
Category : Business & Economics
Languages : en
Pages : 475
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Book Description
Editor is well known. She is presidnet of the History of Economics Society and has completed a 12 year term as editor of the Eastern Economics Journal Work is controversial - challenges the relevance of mathematics in economics
Author: Robert A. Cord
Publisher: Springer Nature
ISBN: 3031017757
Category : Business & Economics
Languages : en
Pages : 1088
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Book Description
The University of Chicago has been and continues to be one of the most important global centres for economics. With six chapters on themes in Chicago economics and 33 chapters on the lives and work of Chicago economists, this volume shows how economics became established at the University, how it produced some of the world’s best-known economists, including Frank Knight, Milton Friedman and Robert Lucas, and how it remains a global force for the very best in teaching and research in economics. With original contributions from a stellar cast, this volume provides economists – especially those interested in macroeconomics and the history of economic thought – with an in-depth analysis of Chicago economics.
Author: Tae-Hee Jo
Publisher: Routledge
ISBN: 1317631447
Category : Business & Economics
Languages : en
Pages : 338
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Book Description
John F. Henry is an eminent economist who has made important contributions to heterodox economics drawing on Adam Smith, Karl Marx, Thorstein Veblen, and John Maynard Keynes. His historical approach offers radical insights into the evolution of ideas (ideologies and theories) giving rise to and/or induced by the changes in capitalist society. Essays collected in this festschrift not only evaluate John Henry’s contributions in connection to Marx’s and Veblen’s theories, but also apply them to the socio-economic issues in the 21st century. In Part I leading heterodox economists in the traditions of Marxism, Post Keynesianism, and Institutionalism critically examine Marx’s and Veblen’s theoretical frameworks (and their connections to each other) that have become the foundations of heterodox economics. Chapters in Part II showcase alternative theoretical explanations inspired by Marx, Veblen, and Henry. Topics in this Part include financial crisis, financialization, capital accumulation, economics teaching, and the historical relationship between money and class society. Part III is devoted to John Henry’s heterodox economics encapsulated in his "farewell" lecture, interview, and bibliography. Essays in this book, individually and collectively, make an important point that the history of economic thought (or historical analysis of economic theory and policy) is an integral part of developing heterodox economics as an alternative theoretical framework. Anyone who is troubled by the recurring failure of capitalism as well as mainstream economics will find this book well worth reading.
Author: Alan O. Ebenstein
Publisher: Macmillan
ISBN: 0230621953
Category : Business & Economics
Languages : en
Pages : 302
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Book Description
An in-depth look at the history and development of economic ideas emanating from the University of Chicago
