Oskar Lange and the influence of Walrasian theory during the Keynesian revolution
AbstractMy paper examines how Lange integrated the Walrasian and the Keynesian ingredients in his research. I argue that his works proposed two kinds of macroeconomics. The first kind was IS-LM, but IS-LM interpreted as an aggregate version of Walras' general equilibrium model (Lange, 1938). The second kind was developed in Lange's 1944 book. There, macroeconomic became a subfield of stability analysis. The paper highlights Hicks' (1939) decisive influence on Lange. It shows that Value and Capital revealed to Lange how he could use the Walrasian framework to unveil the inherent instability of the capitalist system. This part of the paper help us assess Lange's achievements and his influence on the generation of Modigliani, Solow and Patinkin.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by HAL in its series Working Papers with number halshs-00817758.
Date of creation: 01 Jun 2011
Date of revision:
Note: View the original document on HAL open archive server: http://halshs.archives-ouvertes.fr/halshs-00817758
Contact details of provider:
Web page: http://hal.archives-ouvertes.fr/
Oskar Lange; history of macroeconomics; general equilibrium; keynesian revolution; IS-LM; Keynesian theory;
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- De Vroey, Michel, 1999.
"The Marshallian Market and the Walrasian Economy. Two Incompatible Bedfellows,"
Scottish Journal of Political Economy,
Scottish Economic Society, vol. 46(3), pages 319-38, August.
- De Vroey, Michel, 1997. "The Marshallian Market and the Walrasian Economy. Two Incompatible Bedfellows?," Discussion Papers (IRES - Institut de Recherches Economiques et Sociales) 1998004, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
- Goulven Rubin, 2005. "Patinkin and the Pigou effect: or how a Keynesian came to accept an anti-Keynesian argument," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 12(1), pages 47-72.
- Goulven Rubin, 2004.
"Patinkin on IS-LM: an Alternative to Modigliani,"
- Hans Neisser, 1934. "General Overproduction: A Study of Say's Law of Markets," Journal of Political Economy, University of Chicago Press, vol. 42, pages 433.
- Robert W. Dimand, 2007. "Keynes, IS-LM, and the Marshallian Tradition," History of Political Economy, Duke University Press, vol. 39(1), pages 81-95, Spring.
- Goulven Rubin, 2011.
"Hicks et l'économie de la dépression,"
- Goulven RUBIN, 2011. "Hicks et l’économie de la dépression," Discussion Papers (REL - Recherches Economiques de Louvain) 2011043, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
- Goulven Rubin, 2012.
"Don Patinkin's PhD Dissertation as the Prehistory of Disequilibrium Theories,"
History of Political Economy,
Duke University Press, vol. 44(2), pages 235-276, Summer.
- Goulven Rubin, 2010. "Don Patinkin's Ph.D. dissertation as the prehistory of disequilibrium theories," Working Papers halshs-00636821, HAL.
- Michel, DE VROEY, 2005. "Involuntary Unemployment : the Elusive Quest for a Theory," Discussion Papers (ECON - DÃ©partement des Sciences Economiques) 2005004, Université catholique de Louvain, Département des Sciences Economiques.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (CCSD).
If references are entirely missing, you can add them using this form.