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Foundations of contemporary economics: Joan Robinson and left Keynesianism – Marx, but not Marxism

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  • Henrik Egbert
  • Teodor Sedlarski

Abstract

Joan Robinson (1903-1983) is an outstanding Cambridge economist in a variety of aspects. Being a member of the inner circle around Keynes and discussing with him drafts of the „General Theory“ in the early 1930s, she became an ardent defender of Keynes' original ideas. Her first major work is the „Theory of Imperfect Competition“, which became the standard model for depicting real markets as compared to the model of perfect competition. Her work on Marx reintegrated part of his ideas into economic thought while rejecting ideological Marxism. Due to her favoritism of left ideas, her disputes with neoclassical or orthodox economists, and her advocacy of communist regimes after the Second World War, Robinson is also regarded as one of the most controversial economists of her time.

Suggested Citation

  • Henrik Egbert & Teodor Sedlarski, 2020. "Foundations of contemporary economics: Joan Robinson and left Keynesianism – Marx, but not Marxism," Economic Thought journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 6, pages 66-74.
    • Handle: RePEc:bas:econth:y:2020:6:1:p:66-74
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    References listed on IDEAS

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    1. Joan Robinson, 1962. "Essays in the Theory of Economic Growth," Palgrave Macmillan Books, Palgrave Macmillan, number 978-1-349-00626-7.
    2. Robinson, Joan, 1977. "Michal Kalecki on the Economics of Capitalism," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 39(1), pages 7-17, February.
    3. Robinson, Joan, 1972. "The Second Crisis of Economic Theory," American Economic Review, American Economic Association, vol. 62(2), pages 1-10, May.
    4. G. C. Harcourt, 2001. "Joan Robinson, 1903–1983," Palgrave Macmillan Books, in: 50 Years a Keynesian and Other Essays, chapter 6, pages 91-113, Palgrave Macmillan.
    5. Gram, Harvey & Walsh, Vivian, 1983. "Joan Robinson's Economics in Retrospect," Journal of Economic Literature, American Economic Association, vol. 21(2), pages 518-550, June.
    6. Philip Arestis (ed.), 2011. "Microeconomics, Macroeconomics and Economic Policy," Palgrave Macmillan Books, Palgrave Macmillan, number 978-0-230-31375-0.
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