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Hicks et l'économie de la dépression

Author

Listed:
  • Goulven Rubin

    (LED - Laboratoire d'Economie Dionysien - UP8 - Université Paris 8 Vincennes-Saint-Denis)

Abstract

During the 1930s, Hicks tried to understand the crisis to which capitalist systems were confronted. But unlike most economists of his time, he attempted to apply a Walrasian general equilibrium framework to the situation. The present paper studies how Hicks developed this approach in the last chapters of Value and Capital (1939). Hicks came to argue that the fluctuations of the capitalist system endangered its existence and imagined a theory of the trade cycle giving a major role to expectations and showing the possibility of an economic collapse. The paper analyses the problems raised by this research program in order to explain why Hicks abandoned it while he wrote A Contribution to the Theory of the Trade Cycle (1950).

Suggested Citation

  • Goulven Rubin, 2011. "Hicks et l'économie de la dépression," Working Papers halshs-00638187, HAL.
    • Handle: RePEc:hal:wpaper:halshs-00638187
    Note: View the original document on HAL open archive server: https://shs.hal.science/halshs-00638187
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    Cited by:

    1. Alain Béraud, 2014. "Le développement de la théorie de l'équilibre général. Les apports d'Allais et de Hicks," Revue économique, Presses de Sciences-Po, vol. 65(1), pages 125-158.
    2. Goulven Rubin, 2011. "Oskar Lange and the influence of Walrasian theory during the Keynesian revolution," Working Papers halshs-00817758, HAL.
    3. Jean-Sébastien Lenfant, 2020. "Great Expectations. Hicks on Expectations from Theory of Wages (1932) to Value and Capital (1939)," Working Papers hal-03183464, HAL.
    4. Goulven Rubin, 2014. "Oskar Lange or how IS-LM came to be interpreted as a Walrasian model," Working Papers halshs-01018658, HAL.

    More about this item

    Keywords

    Hicks; Instabilité; Dépression; histoire de la macroéconomie;
    All these keywords.

    JEL classification:

    • B22 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Macroeconomics
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • B21 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Microeconomics

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