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Hicks et l'économie de la dépression

Listed author(s):
  • Goulven Rubin


    (LED - Laboratoire d'Economie Dionysien - Université Paris VIII - Vincennes Saint-Denis)

During the 1930s, Hicks tried to understand the crisis to which capitalist systems were confronted. But unlike most economists of his time, he attempted to apply a Walrasian general equilibrium framework to the situation. The present paper studies how Hicks developed this approach in the last chapters of Value and Capital (1939). Hicks came to argue that the fluctuations of the capitalist system endangered its existence and imagined a theory of the trade cycle giving a major role to expectations and showing the possibility of an economic collapse. The paper analyses the problems raised by this research program in order to explain why Hicks abandoned it while he wrote A Contribution to the Theory of the Trade Cycle (1950).

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Paper provided by HAL in its series Working Papers with number halshs-00638187.

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Date of creation: 10 Nov 2011
Handle: RePEc:hal:wpaper:halshs-00638187
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