Mythical Ages and Methodological Strictures - Joan Robinson's Contributions to the Theory of Economic Growth
AbstractThis paper considers some methodological aspects of Joan Robinson's contribution to post-Keynesian growth theory. Joan Robinson's criticisms of equilibrium analysis, of the conflation of logical and historical time and of the uses (and misuses) of mathematical formalisation are scathing. But while many of her points are well taken, parts of her argument appear questionable. As a result, her methodological critique of equilibrium economics may be misleading. Moreover, she failed to appreciate the potential gains from mathematical formalisation. The further development of a Robinsonian analysis of economic growth calls for a reconsideration of these aspects of her legacy.
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Bibliographic InfoPaper provided by University of Massachusetts Amherst, Department of Economics in its series UMASS Amherst Economics Working Papers with number 2004-09.
Date of creation: Jun 2004
Date of revision:
Joan Robinson; equilibrium; stability; historical time;
Find related papers by JEL classification:
- B31 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - Individuals
- B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology
- O41 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - One, Two, and Multisector Growth Models
This paper has been announced in the following NEP Reports:
- NEP-ALL-2004-06-07 (All new papers)
- NEP-DEV-2004-06-07 (Development)
- NEP-HPE-2004-06-07 (History & Philosophy of Economics)
- NEP-PKE-2004-06-07 (Post Keynesian Economics)
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