Harry Johnson (1923-1977) was such a striking figure in economics that Nobel Laureate James Tobin designated the third quarter of the twentieth century as the age of Johnson. Johnson played a leading role in the development and extension of the Heckscher-Ohlin model of international trade, wrote fundamental articles on the balance of payments and later developed the monetary approach to the balance of payments. Within monetary economics he was also a seminal figure who, in a series of surveys, identified and explained the links between the ideas of the major post-war innovators. This book...

This book provides a detailed picture of the institutionalist movement in American economics concentrating on the period between the two World Wars. The discussion brings a new emphasis on the leading role of Walton Hamilton in the formation of institutionalism, on the special importance of the ideals of science and social control embodied within the movement, on the large and close network of individuals involved, on the educational programs and research organizations created by institutionalists, and on the significant place of the movement within the mainstream of interwar American...

This book rejects the commonly encountered perception of Friedrich Engels as perpetuator of a tragic deception of Marx, and the equally persistent body of opinion treating him as his master's voice . Engels's claim to recognition is reinforced by an exceptional contribution in the 1840s to the very foundations of the Marxian enterprise, a contribution entailing not only the vision but some of the building blocks in the working out of that vision. Subsequently, he proved himself to be a sophisticated interpreter of the doctrine of historical materialism and an important contributor in his own...

This book tells the story of the search for disequilibrium micro-foundations for macroeconomic theory, from the disequilibrium theories of Patinkin, Clower, and Leijonhufvud to recent dynamic stochastic general equilibrium models with imperfect competition. Placing this search against the background of wider developments in macroeconomics, the authors contend that this was never a single research program, but involved economists with very different aims who developed the basic ideas about quantity constraints, spillover effects, and coordination failures in different ways. The authors...

This book provides a contextual study of the development of Alfred Marshall's thinking during the early years of his apprenticeship in the Cambridge moral sciences. Marshall's thought is situated in a crisis of academic liberal thinking that occurred in the late 1860s. His crisis of faith is shown to have formed part of his wider philosophical development, which saw him supplementing Anglican thought and mechanistic psychology with Hegel's Philosophy of History. This philosophical background informed Marshall's early reformulation of value theory and his subsequent wide-ranging...

This book argues that the work of the Austrian economists, including Carl Menger, Joseph Schumpeter, Ludwig von Mises and Friedrich Hayek, has been too narrowly interpreted. Through a study of Viennese politics and culture, it demonstrates that the project they were engaged in was much broader: the study and defense of a liberal civilization. Erwin Dekker shows the importance of the civilization in their work and how they conceptualized their own responsibilities toward that civilization, which was attacked left and right during the interwar period. Dekker argues that what differentiates...

The book discusses the theories, theorists, and contexts from which behavioral economics arose and shows how this new field in economics subsequently developed.