By G. Harcourt
The writer experiences retrospectively his constructing principles on thought and coverage due to the fact he first encountered Keynes's writings in 1950. subject matters coated comprise: Keynes now, in particular the arrival again into favour of his such a lot primary rules; highbrow biographies and shorter tributes to economists; and a survey of Post-Keynesian thought.
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Extra info for 50 Years a Keynesian and Other Essays
Kahn had an extraordinary fertile and innovative mind. This is relevant for thinking about Keynes then and Keynes now because the object of Kahn’s work was, ﬁrst of all, to put the short period at centre stage rather than just a station on the way to the long-period cross which is how Marshall saw the short period. Marshall regarded, as Kahn argued, Book V on the long-period theory of normal prices and quantities as the core of the Principles. Kahn’s ﬁrst major change of emphasis was to make the short period a subject of study in its own right.
Again, he was quite Marshallian, but he just adjusted 42 Keynes Now it or adapted it to get an aggregate short-period Marshallian supply curve which was the basis of the aggregate supply function. Incidentally, much of this was clearly presented in Lorie Tarshis’s PhD dissertation. Tarshis used Gardner Means’s theory of administered prices and built up a macro theory of distribution which is very like Kalecki’s and then put in Kahn’s, Joan Robinson’s and Means’s microfoundations in The General Theory.
H. and G. C. Harcourt (2000) ‘Life and Work of John Richard Nicholas Stone 1913–1991’, Economic Journal, vol. 110, F146–65. Robinson, J. (1993) The Economics of Imperfect Competition (London: Macmillan), 2nd edition 1969. — (1937) Introduction to the Theory of Employment (London: Macmillan), 2nd edition 1969. — (1956) The Accumulation of Capital (London: Macmillan). — (1965) Collected Economic Papers, vol. 3 (Oxford: Blackwell). Rothschild, K. W. (1947) ‘Price Theory and Oligopoly’, Economic Journal, vol.