IDEAS home Printed from https://ideas.repec.org/a/taf/revpoe/v22y2010i1p151-160.html
   My bibliography  Save this article

The Fault Line between Keynes and the Cambridge Keynesians: A Review Essay

Author

Listed:
  • M. G. Hayes

Abstract

This essay reviews Michael Ambrosi's important but neglected book on the formative period of Keynesian economics. The book traces the evolution of a Cambridge macroeconomic tradition running from Marshall and Pigou to Keynes, and interprets The General Theory as a response to Pigou's analysis of unemployment. Ambrosi also argues that Keynes's disciples, Richard Kahn, Nicholas Kaldor and Joan Robinson, were, in the 1930s, wedded to a Pigovian methodology and did not immediately recognise that Keynes had redefined the meaning of equilibrium in The General Theory. Keynes's attempt to redefine the analytical basis of neoclassical economics was thwarted, not merely by the neoclassical synthesis, but by those who claimed to be the inheritors and guardians of his vision.

Suggested Citation

  • M. G. Hayes, 2010. "The Fault Line between Keynes and the Cambridge Keynesians: A Review Essay," Review of Political Economy, Taylor & Francis Journals, vol. 22(1), pages 151-160.
    • Handle: RePEc:taf:revpoe:v:22:y:2010:i:1:p:151-160
    DOI: 10.1080/09538250903392127
    as

    Download full text from publisher

    File URL: http://www.tandfonline.com/doi/abs/10.1080/09538250903392127
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1080/09538250903392127?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    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. Edward J. Amadeo, 1989. "Keynes’s Principle of Effective Demand," Books, Edward Elgar Publishing, number 11.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. M. G. Hayes, 2011. "Money, Investment and Consumption: Keynes's Macroeconomics Rethought," Review of Political Economy, Taylor & Francis Journals, vol. 23(3), pages 476-478.
    2. M. G. Hayes, 2013. "The State of Short-term Expectation," Review of Political Economy, Taylor & Francis Journals, vol. 25(2), pages 205-224, April.
    3. Alcino F. Camara-Neto & Matías Vernengo, 2012. "Keynes after Sraffa and Kaldor: Effective Demand, Accumulation and Productivity Growth," Chapters, in: Thomas Cate (ed.), Keynes’s General Theory, chapter 10, Edward Elgar Publishing.
    4. Antonio Carlos Macedo e Silva & Cláudio Hamílton dos Santos, 2008. "Peering over the edge of the short period? The Keynesian Roots of Stock-Flow Consistent Macroeconomic Models," Anais do XXXVI Encontro Nacional de Economia [Proceedings of the 36th Brazilian Economics Meeting] 200807151456380, ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics].
    5. Olivier Allain, 2009. "Effective Demand and Short-term Adjustments in the General Theory," Review of Political Economy, Taylor & Francis Journals, vol. 21(1), pages 1-22.
    6. Jochen Hartwig, 2007. "Keynes vs. the Post Keynesians on the Principle of Effective Demand," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 14(4), pages 725-739.
    7. Jochen Hartwig, 2013. "Effective Demand: Securing the Foundations," Review of Political Economy, Taylor & Francis Journals, vol. 25(4), pages 672-678, October.
    8. Richard X. Chase, 1994. "The "Fatal Flaw" of Classical Economics: Aspects of Keynes’s Evolution from," Journal of Economic Issues, Taylor & Francis Journals, vol. 28(3), pages 847-875, September.
    9. Luigi L. Pasinetti, 2001. "The Principle of Effective Demand and Its Relevance in the Long Run," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 23(3), pages 383-390, March.
    10. Roy J. Rotheim, 1999. "Post Keynesian Economics and Realist Philosophy," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 22(1), pages 71-103, September.
    11. M.G. Hayes, 2012. "Keynes, the Neglected Theorist," Chapters, in: Thomas Cate (ed.), Keynes’s General Theory, chapter 2, Edward Elgar Publishing.
    12. Mark Hayes, 2007. "The Point of Effective Demand," Review of Political Economy, Taylor & Francis Journals, vol. 19(1), pages 55-80.
    13. Toshiaki Hirai, 2007. "How did Keynes transform his theory from the Tract into the Treatise ?—Consideration through primary material," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 14(2), pages 325-348.

    More about this item

    Statistics

    Access and download statistics

    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:taf:revpoe:v:22:y:2010:i:1:p:151-160. See general information about how to correct material in RePEc.

    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 CitEc recognized a bibliographic reference but did not link an item in RePEc 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 RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/CRPE20 .

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

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.