Cambridge economics in the Post-Keynesian era : the eclipse of heterodox traditions

Cambridge economics in the Post-Keynesian era : the eclipse of heterodox traditions

“I had the great pleasure to read early versions of this meticulously researched history of the rise and demise of Cambridge heterodox economics. I warmly congratulate Ashwani for his tour de force.” —Geoff Harcourt “This book is awesome in both its depth and range. It should be required reading. A...

Ausführliche Beschreibung

Gespeichert in:
Bibliographische Detailangaben
VerfasserIn: Saith, Ashwani.
Ort / Verlag / Datum:Cham : Palgrave Macmillan, [2022]
Erscheinungsjahr:2022
Sprache:Englisch
Serie:Palgrave Studies in the History of Economic Thought
Schlagworte:
Volkswirtschaftslehre Cambridge-Schule, Wirtschaftswissenschaften Chicago-Schule, Wirtschaftswissenschaften Neokeynesianismus Heterodoxe Ökonomie Entwicklungsökonomie Politische Ökonomie
Klassifikation:330.1 Wirtschaftstheorie, Wirtschaftssysteme, Schulen der Wirtschaftstheorie
330.1509
330.156
330.071142659
Beschreibung:2 Bände (XXXIX, 1188 Seiten)
Anmerkungen:
  • Literaturverzeichnis: Seite 1075-1146
  • Volume 1 und 2 zusammen beschrieben
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Inhaltsangabe:
  • Volume I
  • 1 Cambridge, That Was: The Crucible of Heterodox Economics
  • 1.1 The Narrative
  • 1.2 Evolutions and Revolutions
  • 1.2.1 The Great Banyan of Heterodox Traditions
  • 1.2.2 Cohorts
  • 1.2.3 The Cambridge Habitat
  • 1.2.4 Which Cambridge?
  • 1.3 Regime Change
  • 1.3.1 The World of Cambridge: Stories Within
  • 1.3.2 Worlds Beyond Cambridge: Neoliberalism at the Gates
  • 1.4 The Dialectic of Competing Paradigms
  • 1.4.1 Laissez-Faire: “Receding at last into the distance”
  • 1.4.2 The Force of Ideas
  • 1.4.3 Opposition Brewing
  • 1.4.4 Evolutions and Hegemonic Incorporation
  • 1.4.5 Ideological: Not the Techniques but the Purposes of Economics
  • 1.4.6 Sociological: Mathematical Whiz-Kids and Ageing Dinosaurs
  • 1.4.7 Beyond Kuhnian Reductionism
  • 1.4.8 Mankiw’s Pendulum
  • 1.4.9 Solow’s À La Carte Approach
  • 1.4.10 Silos and Trenches
  • 1.4.11 Joan Versus Hahn—History Versus Equilibrium
  • 1.5 Semantics and Pedantics
  • References
  • 2 The Warring Tribes
  • 2.1 A Sanctuary of Sages
  • 2.1.1 Class to Community: The Cement of War
  • 2.1.2 Community to Conflict: Cement to Sand
  • 2.1.3 A Pride of Savage Prima Donnas
  • 2.2 Faculty Wars
  • 2.2.1 Paradise Lost
  • 2.2.2 Fault Lines Within
  • Wynne Godley: No Legacy No Synthesis, No Textbooks—The Samuelson Factor
  • Shifting Student Preferences?
  • “Irrelevance” and Irreverence: Joan and K-Theory
  • Inbred Insularity, Complacency
  • Simultaneities in the Demographic Lifecycle
  • Lack of Internal Group Coherence
  • The Heterodox Camp: No Chairs—Sorry, Standing Room Only
  • A Break in Intergenerational Transmission, in the Reproduction of Traditions
  • 2.3 Godfathers, Uncles and Nephews: The Gathering Foe
  • 2.3.1 The Trojan Horse: By the Pricking of My Thumbs
  • 2.3.2 Forming the Academy
  • Meanwhile, at the Orthodox Party—A Merry Game of Musical Chairs
  • 2.3.3 The Chess Master
  • 2.4 The Campaign: How the War Was Lost and Won
  • 2.4.1 The Orthodox Gambit: Capture the External Commanding Heights
  • 2.4.2 Carrots and Commanders
  • 2.4.3 Modus Operandi: Masters, Mandarins and Interlocking Committees
  • References
  • 3 Worlds Beyond Cambridge: The Global Web of the ‘Neoliberal Thought Collective’
  • 3.1 Conjunctures
  • 3.1.1 1930s, The Prelude
  • LSE Versus Cambridge
  • Émigré Economists: The Benefactions of Lenin and Hitler
  • 3.1.2 1940s, The Cascade
  • 3.1.3 Keynesianism: Divergent Receptions
  • Post-war Affinity in the UK
  • Post-New Deal Hostility in the USA
  • 3.2 Spreading the Word: Messiahs, Messages, Methods
  • 3.2.1 Ideas and Ideologies: Manufacturers and Retailers
  • 3.2.2 USA: Early Ideological Entrepreneurs of Libertarianism
  • Harold Luhnow: The Volker Fund and its Dollars
  • Foundation for Economic Education (FEE) and its Facilitators
  • 3.2.3 Europe: Friedrich Hayek and the Mont Pelerin Society
  • Antecedents
  • Pilgrims Atop a Mountain, Mont Pelerin, Switzerland, April 1947
  • Financial Sponsors
  • The First Meeting of Minds
  • Sarcastic Schumpeter, Sceptical Solow, Scathing Samuelson
  • 3.2.4 UK: Antony Fisher, Global Venture Capitalist of Think Tanks
  • 3.3 Branding the Message: The ‘Nobel’ Prize
  • 3.3.1 The Stockholm Connection: Ideological Entrepreneurs
  • 3.3.2 Some Early Awards: Setting the Direction
  • Jan Tinbergen—Ragnar Frisch 1969
  • Samuelson 1970
  • Gunnar Myrdal—Friedrich von Hayek 1974
  • Milton Friedman 1976
  • 3.3.3 Mont Pelerin Society and the ‘Nobel’—A Golden Embrace
  • 3.3.4 Cambridge Heterodoxy?
  • 3.3.5 ‘An Ideological Coup’
  • 3.4 Reaching Politics: Weaponising the Message
  • 3.4.1 Santiago de Chile: Pinochet the Pioneer
  • Chicago and its Cowboys
  • Thatcher: Romancing Pinochet’s Chile
  • 3.4.2 The White House: Reagan, a Disciple
  • 3.4.3 10 Downing Street: Thatcher, a Devotee
  • More than its Weight in Gold—The Market Price of Symbolic Capital
  • 3.4.4 Pulling Together
  • 3.5 Besieging Cambridge: The Chicago–MIT–LSE Trinity
  • 3.5.1 A Cross-Atlantic Triangle
  • 3.5.2 Diversity of Practice
  • 3.5.3 Unity of Purpose
  • References
  • 4 Camp Skirmishes Over Interstitial Spaces: Journals, Seminars, Textbooks
  • 4.1 The Battle of Teruel—The Day before
  • 4.2 Journals
  • 4.2.1 EJ Leaves ‘Home’—The Loss of a Flagship
  • 4.2.2 CJE Arrives—A Forum of One’s Own
  • 4.2.3 Cambridge Economic Policy Review: One Crowded Hour of Glorious Life
  • 4.3 Seminars
  • 4.3.1 Cambridge Economic Club—A Marshallian Precursor: 1884–1890, 1896–?
  • 4.3.2 Political Economy Club: From Keynes to Robertson to Kahn—Dazzling to Dour
  • 4.3.3 The Marshall Society: A Socialisation into Economics and Its Purposes
  • 4.3.4 Piero Sraffa’s Research Students Seminar: A Precocious Nursery
  • 4.3.5 In Retrospect, Austin Robinson on the Cambridge Circus: The Engine Room of The General Theory
  • 4.3.6 Cambridge–LSE Joint Seminar: Jousting Juniors
  • 4.3.7 Kahn’s ‘Secret’ Seminar at King’s: Fires in the Kitchen
  • 4.3.8 The Richard Stone Common Room: Typhoo and Typhoons
  • 4.3.9 Ajit Singh’s Political Economy Seminar at Queens’: Young Turks
  • 4.3.10 Arestis and Kitson Political Economy Seminar at St. Catherine’s College
  • 4.3.11 Hahn’s Churchill Seminar: Only Maths and Neoclassicals, Others Beware
  • 4.3.12 Cambridge Growth Project Seminar at DAE
  • 4.3.13 Hahn’s ‘Quaker’ Risk Seminar: The Rising Tide
  • 4.3.14 Matthews’s CLARE Group: The Master’s Lodge of Moderate Practitioners
  • 4.3.15 Lawson—Realism and Social Ontology: Ways of Seeing and Framing
  • 4.4 Textbooks
  • 4.4.1 Distant Thunder: Keynes and McCarthy, Tarshis and Samuelson
  • 4.4.2 Lawrence Klein and the Paradox of The Keynesian Revolution
  • Puzzle
  • Ph.D.—At Samuelson’s Feet
  • Cowles Commission—The New Dealers
  • The Keynesian Revolution: The Extra Chapter— Klein, Then a Closet Marxist?
  • Beyond Keynes
  • UMich and McCarthyism
  • Policy to Forecasting
  • Resolution
  • 4.4.3 ‘Death of a Revolutionary Textbook’: Robinson and Eatwell
  • 4.4.4 An ‘Applied Economics’ Textbook That Wasn’t: Joan and Young Friends
  • 4.5 The Battle of Teruel—The Day After
  • Appendix 4.1: First off the Blocks: Mabel Timlin’s Keynesian Economics, 1942
  • References
  • 5 The DAE Trilogy
  • 5.1 Origins and Evolution
  • 5.1.1 Origins
  • 5.1.2 Evolution: Substance and Styles
  • 5.1.3 Foundations of Stone
  • 5.1.4 Reddaway’s Method: Eclectic Development
  • 5.1.5 Godley: Turbulent Times
  • 5.2 End of the Golden Age: The Decade of Discontent
  • 5.3 The Trilogy: Discrete Episodes or a Serial Campaign?
  • Appendix 5.1: DAE—Finding a Good Home
  • References
  • 6 Cambridge Economic Policy Group: Beheading a Turbulent Priest
  • 6.1 Charged Conjuncture
  • 6.1.1 Imbroglios of 1974: Old Versus New Cambridge Versus the Establishment
  • 6.1.2 The Enigma of Kahn
  • 6.1.3 Kaldor: On Radical Policy Implications of New Cambridge, 1976
  • 6.1.4 Cambridge Squabbles: Spillover into Whitehall?
  • 6.1.5 Triggering Crisis: The Pivot of the OPEC Price Hikes
  • 6.1.6 1979: Enter Margaret Thatcher, Right-Wing, Upfront
  • 6.1.7 The Case of the Odd Consensus: The Letter by 364 Economists, 1981
  • 6.1.8 Thatcher in the Garage of the Federal Reserve
  • 6.1.9 1981: Brixton Riots, Toxteth Fires: “A Concentration of Hopelessness”
  • 6.1.10 The CEPG: A Thorn in the Thatcher Hide
  • 6.1.11 The Bogey of Import Controls and the Spectre of Bennism
  • 6.2 SSRC and CEPG: Dispensing Instant Injustice
  • 6.2.1 Posner’s Parlour
  • 6.2.2 Posner’s Process
  • 6.3 Epilogue
  • 6.3.1 Vengeance
  • 6.3.2 The Team Scattered
  • 6.3.3 The Model Reincarnated
  • 6.3.4 The Rehabilitation of Wynne
  • 6.3.5 Wynne Godley: ‘My Credo’ …
  • 6.3.6 The Pacification of the CEPG
  • Appendix 6.1: Old Cambridge, New Cambridge, 1974: and All the King’s Men
  • 1. Letter WG to RFK 23 May 1974. JVR/ vii/228/3/3
  • 2. Letter NK to RFK 20 May 1974. JVR/ vii/228/3/14-16
  • 3. Letter from RFK and MP to NK 24 May 1974. JVR/vii/228/3/17-20
  • 4. Letter from RFK and MP to NK 28 May 1974. JVR/vii/228/3/24
  • 5. Letter from FC to RFK 29 May 1974. JVR/7/228/3/25
  • 6. Reply from RFK to FC 6 June 1974. JVR/7/228/3/24
  • 7. In the interim, NK replied to RFK and MP. JVR/7/228/3/26
  • 8. Letter from NK to RFK. RFK/12/2/132/3
  • References
  • 7 ‘Unintended’ Collateral Damage? The Cambridge Economic Policy Group and the Joseph-Rothschild-Posner SSRC Enquiry, 1982
  • 7.1 Joseph—Rothschild—Posner—Godley
  • 7.2 The Posner-the-Saviour Narrative
  • 7.3 Setting Up the Enquiry
  • 7.4 Who Proposed Rothschild?
  • 7.5 Rothschild Report Writing Process
  • 7.6 The Judgement of Rothschild
  • 7.7 Between Draft and Release and Response: Handshakes and Cigars
  • 7.8 Did Posner Get Away with Just a Change of Name?
  • 7.9 CEPG—Collateral Damage? Or, Traded Down the River?
  • 7.10 The Rothschild Report: Gleanings on Macroeconomic Modelling
  • 7.11 Lord Kaldor—Off the Record, Off the Cuff, Off the Mark?
  • 7.12 Lord Harris’ Vitriol
  • 7.13 Catholicity and Independence
  • 7.14 Rothschild’s Last Word
  • 7.15 Joseph’s Last Laugh
  • References
  • 8 Cambridge Growth Project: Running the Gauntlet
  • 8.1 Background and Conjuncture
  • 8.1.1 The Decision
  • 8.2 Substantive Issues
  • 8.2.1 No Innovation?
  • 8.2.2 Catholicity, Turnover and the Value of Disaggregation
  • 8.2.3 Use of Input-Output Tables
  • 8.2.4 CGP Presence in Policy Debates
  • 8.2.5 Insularity
  • 8.2.6 On Exploiting the Cheap Labour of Graduate Students
  • 8.3 Issues of Procedural Probity
  • 8.3.1 Shifting Goalposts Across Evaluations
  • 8.3.2 Unequal Application of Criterion of Commercial Funding
  • 8.3.3 Public Good or Private Resource?
  • 8.3.4 ESRC Ignored CGP Model Performance: Why?
  • 8.3.5 Compromised ‘Independent’ Evidence
  • 8.4 Other Concerns
  • 8.4.1 ‘Reds’?
  • 8.4.2 Crowding Out Competitors?
  • 8.4.3 Deadweight Loss of Built-up Intellectual Capital
  • 8.4.4 Gratuitously Offensive: Up Close and Out of Order
  • 8.4.5 The Consortium: ‘Revived Talk of Conspiracy Theory’
  • 8.4.6 I

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