The Years of High Theory: Invention and Tradition in Economic Thought 1926-1939

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CUP Archive, 1967 - Business & Economics - 328 pages
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Even a decade after the end of the 1914-1918 war, economic theory assumed that the world was tranquil and orderly. By 1939 an economic slump without parallel, allied to the re-emergence of military ambition in Europe, had brought economic theorists face to face with reality. In this classic book, first published in 1967, Professor Shackle provides a study, in exact and professional language, of the precise nature, structure, presuppositions, language and inter-relations of the theories which were formulated in these fourteen years - unparalleled in the whole history of economics except perhaps by the years of the Physiocrats and Adam Smith. These theories are not prototypes on the way to something better but are of essential and permanent importance.
 

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Contents

a casestudy procedure page
1
Economic hard times and the riches of ideas
4
Sraffa and the state of value theory 1926
13
Marginal revenue
22
i Mrs Joan Robinson
43
ii Edward Chamberlin
61
The indifferencecurve
71
Two theories of demand
84
The anatomy of the General Theory
135
Spending saving and demand
161
The Multiplier
186
Liquidity preference
203
cycles and growth
248
Leontiefs tableau iconomique
272
The landslide of invention
286
Index
297

Monetary equilibrium
89
Myrdals analysis
94

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