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The Revival of Laissez-Faire in American Macroeconomic Theory

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  • Sherryl Davis Kasper

Abstract

This book provides the definitive account of this watershed and traces the evolution of laissez-faire using the cases of its proponents, Frank Knight, Henry Simons, Friedrich von Hayek, Milton Friedman, James Buchanan and Robert Lucas. By elucidating the pre-analytical framework of their writings, Sherryl Kasper accounts for the ideological influence of these pioneers on theoretical work, and illustrates that they played a primary role in founding the theoretical and philosophical use of rules as the basis of macroeconomic policy. A case study of the way in which interwar pluralism transcended to postwar neoclassicism is also featured.

Individual chapters are listed in the "Chapters" tab

Suggested Citation

  • Sherryl Davis Kasper, 2002. "The Revival of Laissez-Faire in American Macroeconomic Theory," Books, Edward Elgar Publishing, number 2319.
    • Handle: RePEc:elg:eebook:2319
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    Cited by:

    1. Czech, Brian, 2009. "The neoclassical production function as a relic of anti-George politics: Implications for ecological economics," Ecological Economics, Elsevier, vol. 68(8-9), pages 2193-2197, June.

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    Keywords

    Economics and Finance;

    JEL classification:

    • B0 - Schools of Economic Thought and Methodology - - General

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