Samuelson and Neoclassical EconomicsG. Feiwel This is not a festschrift, but a study of the prodigious Samuelson phe nomenon, his history-making contributions to and impact on the econom ics of our age, and the intricate, often perplexing, and divergent trends in modern economics - all intensely controversial subjects that will be argued, scrutinized, and periodically reassessed by economists of various strands and traditions for years to come, for, as Samuelson wrote of Pigou, "immortality does have its price. " A scholar with such an out standing body of contributions "must expect other men to swarm about it" (1966, p. 1233), subject it to scholarly scrutiny, and challenge it. Although Paul Samuelson was 65 on May 15, 1980 (and our best wishes go out to him for long life and continued enrichment of economics), this is neither a birthday party nor a gathering of only the Good Fairies, for, as he himself has said of Marx, "a great scholar deserves the compliment of being judged seriously" and critically (1972, p. 268). In accordance with the rule of Roman law, audiatur et altera pars, I have invited representative scholars of widely divergent perceptions to offer their critical evaluation of the "age of Samuelson. " While the response was by and large gratifying, some scholars were unable to meet the deadline, ix x PREFACE and with much compunction I have had to expand my own essays to partly fill the gaps. |
Contents
An Introduction | 1 |
FOUNDATIONS OF ECONOMIC ANALYSIS | 29 |
Revealed Preference after Samuelson | 72 |
Copyright | |
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Common terms and phrases
aggregate allocation approach assumed assumption behavior bundle Cambridge capital Chipman and Moore classical Collected Scientific Papers commodity competitive concept consumer consumption curve defined demand function distribution dynamic Econometrica Economic Analysis Economic Review economic theory economists effect equilibrium factor full employment Hicks Hurwicz ibid implies indifference indifference curves individual inflation inputs integrability interest rates investment Joan Robinson Journal of Economic Keynes Keynesian economics labor macro macroeconomics marginal utility Marx mathematical maximization measure monetarism monetary policy neoclassical economics neoclassical synthesis nomic optimal output Papers of Paul Pareto Paul Samuelson Phillips curve political problem production function question rate of exploitation rate of profit relation result revealed preference Review of Economic Richter Samuelson 1966 social welfare function stability Strong Axiom surplus theorem tion tradeoff uelson utility function Uzawa variables vector wage Weak Axiom welfare economics workers
References to this book
Foundations of Paul Samuelson's Revealed Preference Theory: A study by the ... Stanley Wong No preview available - 2002 |
A History of Economic Theory: Classic Contributions, 1720-1980 Jürg Niehans No preview available - 1994 |