This book brings together important essays by Richard F. Kahn, Keynes’s pupil and literary executor and one of the most influential economists in the Cambridge tradition. The essays address issues, including imperfect competition, pricing mechanisms, inflation, unemployment, and the regulation of international trade and finance, that are highly relevant and topical They are addressed from a Keynesian perspective, with the interface between economic theory and policy explored. With the inclusion of a new introduction, the essays are placed in their own context and offer the key to understand their relevance for the present.
Richard F. Kahn: Collected Economic Essays is a fitting companion to the 1972 collection of essays, edited by Kahn himself. It will be of interest to scholars and students as a key to an outstanding economist and a great figure in the Keynesian tradition.
Author(s): Maria Cristina Marcuzzo, Paolo Paesani
Series: Palgrave Studies in the History of Economic Thought
Publisher: Palgrave Macmillan
Year: 2022
Language: English
Pages: 277
City: Cham
Contents
Sources
Chapter 1: Introduction
Competition Theory: Market Imperfections and Entrepreneurial Behaviour
Employment Theory: The Keynesian Approach and the Relationship with Keynes
International Money and Trade
Unemployment, Wages and Inflation
Conclusions
References
Part I: Imperfect Competition
Chapter 2: Imperfect Competition and the Marginal Principle
I
II
III
IV
V
VI
VII
Chapter 3: The Problem of Duopoly
Chapter 4: Oxford Studies in the Price Mechanism
Part II: Keynes
Chapter 5: The Cambridge ‘Circus’
PUBLISHED ACCOUNTS OF THE CIRCUS
Chapter 6: Some Aspects of the Development of Keynes’s Thought
References
Chapter 7: ‘The General Theory of Employment, Interest and Money’
Introduction
The word ‘general’
The character of the achievement
The money-wage
The propensity to consume
Liquidity preference
Introduction
Basic concept
Exclusion of assets other than fixed-interest securities
The inducement to invest: foreword
The inducement to invest: Keynes’ basic chapter
Introduction
Risk and uncertainty
Keynes’ chapter on investment in real life
Introduction
The role of equity prices
Extracts from Chapter 12 which do not suggest influences on real investment
Extracts from Chapter 12 which do suggest influences on real investment
Limitations of the ‘General Theory’
Misconceptions about the General Theory
Keynes’ provocative tone
The post ‘General Theory’ Keynes on ‘finance’
Keynes and finance
The crowding-out effect in some quarters to-day
The inducement to invest in real life
Part III: International Money and Trade
Chapter 8: International Regulation of Trade and Exchanges
Chapter 9: The International Monetary System
Chapter 10: Historical Origins of the International Monetary Fund
Part IV: Unemployment and Inflation
Chapter 11: Unemployment as seen by the Keynesians
Postscript
Chapter 12: Thoughts on the Behaviour of Wages and Monetarism
Sir John Hicks on the Causation of Inflation
The Vicious Wage-Wage Spiral
Wage Differentials
Why the United Kingdom is Heavily Subject to Inflation
Wage Inflation and Unemployment
Alternative Occupations for Trade-Union Officials
Inflation before 1973
The Public Sector Borrowing Requirement and the Behaviour of the Quantity of Money
The Chancellor’s Task
Chapter 13: Inflation—A Keynesian View
References
List of Richard F. Kahn’s Publications
1931
1932
1933
1935
1936
1937
1938
1939
1946
1947
1948
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
1961
1962
1963
1964
1965
1966
1967
1968
1969
1971
1972
1973
1974
1975
1976
1977
1978
1983
1984
1985
1987
1988
1989
Index
