Keynes, Pigou and Cambridge Keynesians: Authenticity and Analytical Perspective in the Keynes-Classics Debate

by Gerhard Michael Ambrosi

Overview

The sequence of antagonistic 'revolutions' and counter-revolutions' between Keynesian and Classical Economics was in the end quite sterile. Fostering a dialogical conception of economics argument, we reconstruct the Pigouvian analytical 'node' and the debate unfolding between Keynes and Pigou. The Cambridge 'Keynesians' Joan Robinson and Richard Kahn broke that fledging dialogue and infelicitously abandoned a number of Keynes' - and also some of their own - central conceptions. Re-thinking this dialogue leads to new analytical paradigms and perspectives.

Product Details

ISBN-13:	9780333633908
Publisher:	Palgrave Macmillan UK
Publication date:	12/19/2003
Edition description:	2003
Pages:	491
Product dimensions:	5.51(w) x 8.50(h) x 0.05(d)

About the Author

GERHARD MICHAEL AMBROSI is Professor for European Economic Policy at the University of Trier, Germany (Jean Monnet Chair for European Economic Policy) and Director of the Centre for European Studies at the University of Trier. He graduated from Berlin Free University and did post graduate work at, among other places, Cambridge, UK. He published on Keynesian economics and on European economics.

Table of Contents

PART I: THE SPENT REVOLUTIONS: LOST DIRECTIONS IN ECONOMIC DEBATES The Volatility in Macroeconomic Paradigms The Problem of Authenticity in Keynesian Economics The Problem of Authenticity in 'Classical' Economics Pigou as Keynes' Classic The Question of Fairness An Abstract of the Arguments PART II: THE PIGOUVIAN NODE Questions and Methods Pigou's 'Real Demand for Labour' Workings of the Basic Pigouvian Model Keynes' Internal Critique of Pigou and the Classics Keynes' External Critique of Pigou and the Classics Assessing the Classical Reconstruction Summary and Conclusion of Part II PART III: THE FLEDGLING DEBATE The Problematic Unfolding of the Pigou-Keynes Debate Basic Issues and Pigou's Rejoinders Pigou's 'Simplified Model' The Kaldorian Synthesis of Keynes and Pigou The Unresolved Conflict The Evaporation of Keynes' Analytical Aspiration PART IV: A POST-KEYNESIAN DILEMMA Problems and Methods The Structure of the Model Microfoundations of the Robinsonian Model The Workings of the Robinsonian Model The Robinsonian Model as a Basis for the Critique of Traditional Economics PART V: PARADIGMS AND PERSPECTIVES Paradigms of a Re-authenticated Keynes-Classics Debate Economic Consequences of a Re-authenticated Keynes-Classics Debate Perspectives from the General Theory : Liquidity and Philosophy Concluding Remarks List of Symbols References