This book presents an alternative approach to monetary theory that differs from the General Theory of Keynes, the Monetarism of Friedman, and the New Classicism of Lucas. Particular attention is given to the work of Hawtrey and his analysis of financial crises and his explanation of the Great Depression. The unduly neglected monetary theory of Hawtrey is examined in the context of his contemporaries Keynes and Hayek and the subsequent contributions of Friedman and of the Monetary Approach to the Balance of Payments.Studies in the History of Monetary Theoryaims to highlight the...

This book, the first of two volumes, explores the legacy of Trevor Winchester Swan, often described as Australia’s greatest ever economist. An insightful biography is accompanied with Swan’s most prominent articles to provide a broad view of his life and work. Particular attention is given to the famous Swan Diagram, known among macroeconomists worldwide, Swan’s four zones of economic unhappiness, his view of how economies grew based on capital deepening and technical progress, and the Solow-Swan model of economic growth.This book aims to shed light on the enigmatic and influential life...

This book explores the early work and activities of Joan Robinson that focused on economic development within underdeveloped countries, in particular India before independence. By analysing the style of Robinson’s thinking and economic analysis, and based on the works of Indian contemporaries, parts ofThe British Crown and the Indian Statespreviously unattributed to her are seen to exhibit her preoccupation with poverty, backwardness, unemployment, the population problem, international trade, and the role of the state. Through keeping in mind Robinson’s later work, the development of her...

This book, the second of two volumes, explores the legacy of Trevor Winchester Swan, often described as Australia’s greatest ever economist. Some of Swan’s most prominent articles are presented alongside analysis of his work from leading historians of economic thought to provide a broad and insightful view of his work. Particular attention is given to Swan’s work on the balance of payments, economic development, capital accumulation, and the neoclassical growth model.This book aims to shed light on the enigmatic and influential life of Trevor Winchester Swan. It will be relevant to...