IDEAS home Printed from https://ideas.repec.org/a/hop/hopeec/v42y2010i2p201-219.html
   My bibliography  Save this article

A Tale of Two Cities

Author

Listed:
  • Perry Mehrling

Abstract

Once upon a time, macroeconomics was a field organized around money and the equation of exchange, as in Fisher 1911. Today, the field is organized instead around finance and the intertemporal Euler equation. This article tells the story of how we moved from then to now, a story that revolves around the key role played by Jacob Marschak and the rise of monetary Walrasianism.

Suggested Citation

  • Perry Mehrling, 2010. "A Tale of Two Cities," History of Political Economy, Duke University Press, vol. 42(2), pages 201-219, Summer.
  • Handle: RePEc:hop:hopeec:v:42:y:2010:i:2:p:201-219
    as

    Download full text from publisher

    File URL: http://hope.dukejournals.org/content/42/2/201.full.pdf+html
    File Function: link to full text
    Download Restriction: Access to full text is restricted to subscribers.

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Tavlas, George S, 1997. "Chicago, Harvard, and the Doctrinal Foundations of Monetary Economics," Journal of Political Economy, University of Chicago Press, vol. 105(1), pages 153-177, February.
    2. Andres Erosa, 2001. "Financial Intermediation and Occupational Choice in Development," Review of Economic Dynamics, Elsevier for the Society for Economic Dynamics, vol. 4(2), pages 303-334, April.
    3. Robert W. DIMAND, 2003. "Competing Visions For The U.S. Monetary System, 1907-1913: The Quest For An Elastic Currency And The Rejection Of Fisher'S Compensated Dollar Rule For Price Stability," Cahiers d’économie politique / Papers in Political Economy, L'Harmattan, pages 101-121.
    4. Milton Friedman & Anna Jacobson Schwartz, 1970. "Introduction to "Monetary Statistics of the United States: Estimates, Sources, Methods"," NBER Chapters,in: Monetary Statistics of the United States: Estimates, Sources, Methods, pages 1-85 National Bureau of Economic Research, Inc.
    5. Ahiakpor, James C. W., 2009. "The Phillips Curve Analysis: An Illustration Of The Classical Forced-Saving Doctrine," Journal of the History of Economic Thought, Cambridge University Press, pages 143-160.
    6. Patinkin, Don, 1969. "The Chicago Tradition, the Quantity Theory, and Friedman," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 1(1), pages 46-70, February.
    7. Laidler, David, 1993. "Hawtrey, Harvard, and the Origins of the Chicago Tradition," Journal of Political Economy, University of Chicago Press, vol. 101(6), pages 1068-1103, December.
    8. Johnson, Harry G, 1971. "The Keynesian Revolution and the Monetarist Counter-Revolution," American Economic Review, American Economic Association, pages 1-14.
    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


    Cited by:

    1. Philip Mirowski, 2011. "The Spontaneous Methodology of Orthodoxy, and Other Economists’ Afflictions in the Great Recession," Chapters,in: The Elgar Companion to Recent Economic Methodology, chapter 20 Edward Elgar Publishing.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:hop:hopeec:v:42:y:2010:i:2:p:201-219. 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: (Center for the History of Political Economy Webmaster). General contact details of provider: http://www.dukeupress.edu/Catalog/ViewProduct.php?viewby=journal&productid=45614 .

    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.

    We have no references for this item. You can help adding them by using 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 RePEc Author Service 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.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.