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Mythical Ages and Methodological Strictures - Joan Robinson's Contributions to the Theory of Economic Growth

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Peter Skott () (University of Massachusetts Amherst)

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Abstract

This 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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Paper provided by University of Massachusetts Amherst, Department of Economics in its series Working Papers with number 2004-09.

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Date of creation: Jun 2004
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Handle: RePEc:ums:papers:2004-09

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Related research
Keywords: Joan Robinson; equilibrium; stability; historical time;

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Find related papers by JEL classification:
B31 - Schools of Economic Thought and Methodology - - History of 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

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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.:
  1. James Tobin, 1975. "Keynesian Models of Recession and Depression," Cowles Foundation Discussion Papers 387, Cowles Foundation, Yale University. [Downloadable!]
    Other versions:
  2. repec:cup:cbooks:9780521066310 is not listed on IDEAS
  3. Chiarella, Carl & Flaschel, Peter & Wells, Graeme, 2003. "The Dynamics Of Keynesian Monetary Growth," Macroeconomic Dynamics, Cambridge University Press, vol. 7(03), pages 473-475, June. [Downloadable!]
  4. Gram, Harvey & Walsh, Vivian, 1983. "Joan Robinson's Economics in Retrospect," Journal of Economic Literature, American Economic Association, vol. 21(2), pages 518-50, June. [Downloadable!] (restricted)
  5. Peter Flaschel, Reiner Franke, 2000. "An Old-Keynesian Note on Destabilizing Price Flexibility," Review of Political Economy, Taylor and Francis Journals, vol. 12(3), pages 273-283, July. [Downloadable!] (restricted)
  6. Peter Skott & Peter Flaschel, 2004. "Steindlian Models of Growth and Stagnation," Working Papers 2004-11, University of Massachusetts Amherst, Department of Economics. [Downloadable!]
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  7. Kaldor, Nicholas, 1972. "The Irrelevance of Equilibrium Economics," Economic Journal, Royal Economic Society, vol. 82(328), pages 1237-55, December. [Downloadable!] (restricted)
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This page was last updated on 2009-11-18.

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