Showing papers by "John E. King published in 1994"

Conversations With Post-Keynesians

Abstract: Introduction - Paul Davidson - Roy Rotheim - William Milberg - Basil Moore - John Hotson - Vistoria Chick - Peter Riach - Peter Reynolds - Malcolm Sawyer - Sheila Dow - Geoff Harcourt - Fred Lee - Philip Arestis - Kurt Rothschild - Egon Matzner - Conclusion - Notes - Index

Economic growth in theory and practice : a Kaldorian perspective

Abstract: Nicholas Kaldor the Cambridge growth theorist the romance with Verdoorn increasing returns, decreasing returns and cumulative causation

A conversation with Paul Davidson

Abstract: In November 1992 I interviewed Paul Davidson as part of a continuing research project on the history of post-Keynesian economics. He spoke at some length on his early career, his friendship with sidney Weintraub, his rather stormy relationship with Cambridge (UK), and the circumstances in which the Journal of Post Keynesian Economicswas established. Davidson is, of course, the editor of the journal, which he founded with Weintraub in 1978. He is the author of Money and the Real World(1972, 1978) and International Money and the Real World(1982) and co-author (with Eugene Smolensky) of Aggregate Supply and Demand Analysis(1964). Two volumes of his Collected Writingswere published by Macmillan in 1991. Having spent many years at Rutgers University, Paul Davidson now holds the J.F. Holly Chair of Excellence in Political Economy at the University of Tennessee at Knoxville, where our conversation took place.

Economic growth in theory and practice

Abstract: This title contains a selection of articles on and by Nicholas Kaldor which concentrate on his theoretical and applied economics of growth. Part 1 features an autobiographical article by Kaldor, three biographical sketches, and a hitherto unpublished conversation with A.P. Thirlwall on Kaldor’s life and work. Part 2 includes his early contributions to steady-state growth theory, including two of his best-known models, a number of critical appraisals, and Kaldor’s replies. Part 3 deals with his long flirtation with Verdoorn’s Law, while the articles in Part 4 cover the last stage of Kaldor’s thinking on growth and concentrate on world economy models of increasing returns and export-constrained growth.

Is socialism economically feasible? An analysis interms of historical materialism∗

Abstract: The argument of this article is easily stated if the propositions of historical materialism are true the feasibility of socialism is seriously in doubt. Section 1 outlines what is meant by historial materialism and Section II considers the work of Marx on the development of socialism. The following three sections analyse the work of socialist economists and their critics during the twentieth century. In the conclusion our overall argument is summarized.

Kurt Rothschild and the alternative Austrian economics

Abstract: This article assesses Kurt Rothschild's work in the areas of price theory, labor economics, bargaining theory and the economics of power, distribution and growth, and the practice and theory of economic policy. It discusses Rothschild's relationship to various dissident schools of economic thought. It speculates as to why his alternative 'Austrian economics' has been so unjustly neglected inside and outside Austria. (c) 1994 Academic Press, Inc. Copyright 1994 by Oxford University Press.

A Conversation with Craufurd Goodwin

Abstract: In November 1992 I spoke with Craufurd Goodwin, founder and long-time editor of History of Political Economy, as part of a continuing research project on the history of Post Keynesian economics. Although in no sense a Post Keynesian, Goodwin enjoys uniquely privileged access to the historiography of macroeconomics since Keynes and also has strong views of his own on this area of economics. His predictions concerning the future of the discipline are equally forthright, and not a little alarming.

J.A. Hobson’s Macroeconomics: The Last Ten Years (1930–40)

Abstract: There exists a rare unanimity among authorities on J.A. Hobson, to the effect that his macroeconomic thinking underwent no substantial change in the final decades of his life. Thus DJ. Coppock concludes that, ‘though substantially complete in 1910 the analysis of depression was refined in his later exposition’ (Coppock 1953, p. 20). John Allett agrees that it was in The Industrial System (Hobson 1909) that ‘the major aspects of Hobson’s conceptual apparatus for analysing underconsumption crises [were] brought to a completion’ (Allett 1981, p. 101). The arguments were repeated in Hobson’s The Economics of Unemployment (1922), Rationalisation and Unemployment (1930), and Property and Improperly (1937a), but ‘no major conceptual innovation took place after 1909’ (Allett 1981, p. 101). Mark Blaug expresses some surprise that Hobson ignored the Keynesian revolution in his Confessions (Hobson 1938). ‘But Hobson was eighty-years-old when he wrote his autobiography and might perhaps be excused for not paying much attention to the latest developments in economic theory’ (Blaug 1986, p. 95.)1 More recently, Peter Clarke has maintained that Hobson’s interwar writings added very little to the analysis set out in his previous work: ‘His central contentions on over-saving had not significantly changed but when he reiterated them, amid widespread unemployment, he found a more sympathetic response, even among professional economists who had previously accepted a full-employment assumption’ (Clarke 1987, p. 666).