Joan Robinson's disillusion with economics
In her last public comments on the state of economics, Joan Robinson made some extraordinary remarks that conveyed profound pessimism and theoretical nihilism. To account for the bleakness of Robinson's later views on economics and economic policy this article examines her last decade. These years were marked by an array of reverses to the causes she espoused. While ill health and a propensity to be provocative coloured her disposition, her comment about economic theory disintegrating in her hands was not made casually; it was, rather, an acknowledgement that her project to integrate Keynes with the classical surplus theory had failed. This acknowledgement crystallised into her rejection of the long-period equilibrium interpretation of Keynes's theory of unemployment. At the end of her life Robinson was willing only to embrace the more traditional short-period Keynesian model grounded in uncertainty and expectations.
Volume (Year): 15 (2003)
Issue (Month): 4 ()
|Contact details of provider:|| Web page: http://www.tandfonline.com/CRPE20|
|Order Information:||Web: http://www.tandfonline.com/pricing/journal/CRPE20|
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.:
- Robinson, Joan, 1972. "The Second Crisis of Economic Theory," American Economic Review, American Economic Association, vol. 62(2), pages 1-10, May.
- Robinson, Joan, 1979. "Garegnani on Effective Demand," Cambridge Journal of Economics, Oxford University Press, vol. 3(2), pages 179-80, June.
- Eichner, Alfred S & Kregel, J A, 1975. "An Essay on Post-Keynesian Theory: A New Paradigm in Economics," Journal of Economic Literature, American Economic Association, vol. 13(4), pages 1293-1314, December.
- J. E. King & Alex Millmow, 2003. "Death of a Revolutionary Textbook," History of Political Economy, Duke University Press, vol. 35(1), pages 105-134, Spring.
- Garegnani, Pierangelo, 1979. "Notes on Consumption, Investment and Effective Demand: A Reply to Joan Robinson," Cambridge Journal of Economics, Oxford University Press, vol. 3(2), pages 181-87, June.
- Paul A. Samuelson, 1975. "Steady-State and Transient Relations: A Reply on Reswitching," The Quarterly Journal of Economics, Oxford University Press, vol. 89(1), pages 40-47.
When requesting a correction, please mention this item's handle: RePEc:taf:revpoe:v:15:y:2003:i:4:p:561-574. 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: (Michael McNulty)
If references are entirely missing, you can add them using this form.