Scratch a Would-Be Planner: Robbins, Neoclassical Economics and the End of Socialism
Robbins’s central contribution to the debate on market versus plan links with identification of economics as science of how societies handle scarcity, a central contribution of the Essay. This was not a narrow focus on static efficiency; inflation was a key part of Robbins’s conception of (mis)handling scarcity. The irony that transition to the market led to movement away from the market in economics is analysed, highlighting the obscured role of macroeconomics, and questioning a new conventional wisdom that Russia should have followed the Chinese path of gradual and Pareto-improving institutional development. A conclusion is that the demise of the Washington Consensus should not lead to a new dogma: the neoclassical paradigm is not being replaced but extended.
|Date of creation:||May 2008|
|Date of revision:|
|Contact details of provider:|| Postal: +44-(0)20-7882-3167|
Web page: http://www.busman.qmul.ac.uk/research/cgr/index.html
More information through EDIRC
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.:
- Coase Ronald, 1991.
"The Institutional Structure of Production,"
Journal des Economistes et des Etudes Humaines,
De Gruyter, vol. 2(4), pages 10, December.
- North, Douglass C, 1994.
"Economic Performance through Time,"
American Economic Review,
American Economic Association, vol. 84(3), pages 359-68, June.
- Peter Murrell, 2003. "Institutions and Firms in Transition Economies," Electronic Working Papers 03-004, University of Maryland, Department of Economics.
- Peter Oppenheimer & Brigitte Granville, 2001. "Russiaâ€™s Post-Communist Economy," World Economics, World Economics, Economic & Financial Publishing, 1 Ivory Square, Plantation Wharf, London, United Kingdom, SW11 3UE, vol. 2(1), pages 149-168, January.
- Peter Murrell, 1991. "Can Neoclassical Economics Underpin the Reform of Centrally Planned Economies?," Journal of Economic Perspectives, American Economic Association, vol. 5(4), pages 59-76, Fall.
- Grosjean, Pauline & Senik, Claudia, 2007.
"Should Market Liberalization Precede Democracy? Causal Relations between Political Preferences and Development,"
IZA Discussion Papers
2889, Institute for the Study of Labor (IZA).
- Grosjean, Pauline & Senik, Claudia, 2007. "Should Market Liberalization precede Democracy ? Causal Relations between Political Preferences and Development," CEPREMAP Working Papers (Docweb) 0704, CEPREMAP.
- Pauline Grosjean & Claudia Senik, 2007. "Should market liberalization precede democracy? Causal relations between political preferences and development," PSE Working Papers halshs-00588060, HAL.
- Rudiger Ahrend, 2004. "Accounting for Russia's Post-Crisis Growth," OECD Economics Department Working Papers 404, OECD Publishing.
- Nauro F. Campos & Abrizio Coricelli, 2002.
"Growth in Transition: What We Know, What We Don't, and What We Should,"
Journal of Economic Literature,
American Economic Association, vol. 40(3), pages 793-836, September.
- Nauro F. Campos & Fabrizio Coricelli, 2002. "Growth in Transition: What We Know, What We Don't, and What We Should," William Davidson Institute Working Papers Series 470, William Davidson Institute at the University of Michigan.
- Campos, Nauro F & Coricelli, Fabrizio, 2002. "Growth in Transition: What we Know, What we Don't and What we Should," CEPR Discussion Papers 3246, C.E.P.R. Discussion Papers.
- Rudiger Ahrend & William Tompson, 2005. "Fifteen Years of Economic Reform in Russia: What has been Achieved? What Remains to be Done?," OECD Economics Department Working Papers 430, OECD Publishing.
- Rostowski, Jacek, 1998. "Macroeconomic Instability in Post-Communist Countries," OUP Catalogue, Oxford University Press, number 9780198290483, December.
When requesting a correction, please mention this item's handle: RePEc:cgs:wpaper:11. 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: (Pedro S. Martins)
If references are entirely missing, you can add them using this form.