Lucas, Keynes, And The Crisis
The article contrasts an intellectual history perspective on the transition from classical to neo-classical economics with doctrinal accounts of the marginal revolution. Marshall's opinions on the mixture of theoretical, methodological, and moral and political elements involved in the generational divide shows that more was at stake than accounts in which theory alone is stressed suggest. It is also argued that in other respects less was at stake: drawing a sharp dividing line between pre- and post-marginal treatments of policy issues does not do justice to underlying continuities in the empirical utilitarian tradition. The article is dedicated to the memory of R. D. C. (Bob) Black, whose work on Jevons illustrates the benefits of an intellectual historian's approach to this significant transition in economic thinking.
Volume (Year): 32 (2010)
Issue (Month): 01 (March)
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References listed on IDEAS
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- M. G. Hayes, 2006. "The Economics of Keynes," Books, Edward Elgar Publishing, number 12601, April.
- John F. Helliwell, 2006. "From Flapper to Bluestocking: What Happened to the Young Woman of Wellington Street?," Bank of Canada Review, Bank of Canada, vol. 2005(Winter), pages 31-39.