Advanced Search
MyIDEAS: Login to save this paper or follow this series

The Other J.M.: John Maurice Clark and the Keynesian Revolution

Contents:

Author Info

  • Luca Fiorito
  • Matías Vernengo

Abstract

This paper suggests that Clark’s views regarding the Keynesian Revolution illuminate some of the limitations of the Keynesian orthodoxy that developed after the war, bringing more institutional detail and a greater preocupation with dynamic analysis. Clark developed the multiplier in dynamic terms and coupled it with the accelerator to provide the framework for business cycle theory. His analysis was not formalized and emphasized time lags and non-linearities, similarly to Harrod. Also Clark was concerned with the inflationary consequences of Keynesian policies and he was dissatisfied with those mechanical interpretations of the income flow analysis, which came to be known as hydraulic Keynesianism. Clark’s policy conclusions emphasized the need of balance between employment creation and price stability, and the need of cooperation between social groups.

Download Info

To our knowledge, this item is not available for download. To find whether it is available, there are three options:
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.

Bibliographic Info

Paper provided by University of Utah, Department of Economics in its series Working Paper Series, Department of Economics, University of Utah with number 2008_07.

as in new window
Length: 18 pages
Date of creation: 2008
Date of revision:
Publication status: Published in Journal of Economic Issues, 43.4: 899-917.
Handle: RePEc:uta:papers:2008_07

Contact details of provider:
Postal: 1645 E. Central Campus Dr. Front, Salt Lake City, UT 84112-9300
Phone: (801) 581-7481
Fax: (801) 585-5649
Web page: http://economics.utah.edu
More information through EDIRC

Related research

Keywords: John Maurice Clark; Keynesians; Institutionalists;

Other versions of this item:

Find related papers by JEL classification:

This paper has been announced in the following NEP Reports:

References

References listed on IDEAS
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.:
as in new window
  1. Besomi, Daniele, 2001. "Harrod's Dynamics and the Theory of Growth: The Story of a Mistaken Attribution," Cambridge Journal of Economics, Oxford University Press, vol. 25(1), pages 79-96, January.
  2. Paul A. Samuelson, 1939. "A Synthesis of the Principle of Acceleration and the Multiplier," Journal of Political Economy, University of Chicago Press, vol. 47, pages 786.
  3. Matias Vernengo, 2006. "A Hands-off Central Banker? Marriner S. Eccles and the Federal Reserve Policy, 1934-1951," Working Paper Series, Department of Economics, University of Utah 2006_04, University of Utah, Department of Economics.
  4. Robert Leeson, 1997. "The Eclipse of the Goal of Zero Inflation," History of Political Economy, Duke University Press, vol. 29(3), pages 445-496, Fall.
  5. Matias Vernengo & Louis-Philippe Rochon, 2001. "Kaldor and Robinson on money and growth," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 8(1), pages 75-103.
  6. Colander, David, 1984. "Was Keynes a Keynesian or a Lernerian?," Journal of Economic Literature, American Economic Association, vol. 22(4), pages 1572-75, December.
  7. Rutherford, Malcolm & Desroches, C. Tyler, 2008. "The Institutionalist Reaction To Keynesian Economics," Journal of the History of Economic Thought, Cambridge University Press, vol. 30(01), pages 29-48, March.
Full references (including those not matched with items on IDEAS)

Citations

Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
as in new window

Cited by:
  1. Esteban Pérez Caldentey & Matias Vernengo, 2013. "Reading Keynes in Buenos Aires: Prebisch and the Dynamics of Capitalism," Working Paper Series, Department of Economics, University of Utah 2013_08, University of Utah, Department of Economics.

Lists

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

Statistics

Access and download statistics

Corrections

When requesting a correction, please mention this item's handle: RePEc:uta:papers:2008_07. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ().

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.