Leading Contemporary Economists: Economics at the Cutting Edge
Total Page：16
File Type：pdf, Size：1020Kb
Leading Contemporary Economists This book describes the important contributions of several contemporary eco- nomic figures including recent Nobel Laureates. Describing their work and putting it into an historical perspective, these chapters explain how their work constitutes a major contribution to the discipline of economics and how it has broadened economic science. Co-editor of the Review of Political Economy, Steven Pressman has gathered together for the first time key chapters from the journal, discussing major figures such as Amartya Sen, Joseph Stiglitz, John Kenneth Galbraith, Thomas Schelling, Edmund Phelps and Robert Mundell. This volume is significant to the extent that it combines the study of the work of Nobel Laureates with the perspective of heterodox economists, including a comprehensive bibliography for the work of each economist covered. This book will be useful to both students and professional economists who are interested in contemporary, cutting edge economics and how the economics profession has changed over the last couple of decades. Steven Pressman is Professor of Economics and Finance at Monmouth Univer- sity. He is the author of Fifty Major Economists (second edition 2006) and co- editor of Women in the Age of Economic Transformation (1994) and A New Guide to Post-Keynesian Economics (2001) all published by Routledge. Routledge studies in the history of economics 1 Economics as Literature 8 The History of Game Theory, Willie Henderson Vol. 1 From the beginnings to 1945 2 Socialism and Marginalism in Robert W. Dimand and Economics 1870–1930 Mary Ann Dimand Edited by Ian Steedman 9 The Economics of W. S. Jevons 3 Hayek’s Political Economy Sandra Peart The socio-economics of order Steve Fleetwood 10 Gandhi’s Economic Thought Ajit K. Dasgupta 4 On the Origins of Classical Economics 11 Equilibrium and Economic Distribution and value from Theory William Petty to Adam Smith Edited by Giovanni Caravale Tony Aspromourgos 12 Austrian Economics in Debate 5 The Economics of Joan Edited by Willem Keizer, Robinson Bert Tieben and Rudy van Zijp Edited by Maria Cristina Marcuzzo, Luigi Pasinetti and 13 Ancient Economic Thought Alesandro Roncaglia Edited by B. B. Price 6 The Evolutionist Economics of 14 The Political Economy of Social Léon Walras Credit and Guild Socialism Albert Jolink Frances Hutchinson and Brian Burkitt 7 Keynes and the ‘Classics’ A study in language, epistemology 15 Economic Careers and mistaken identities Economics and economists in Michel Verdon Britain 1930–1970 Keith Tribe 34 Towards an Unknown Marx 42 Piero Sraffa’s Political Economy A commentary on the manuscripts A centenary estimate of 1861–63 Edited by Terenzio Cozzi and Enrique Dussel Roberto Marchionatti 35 Economics and Interdisciplinary 43 The Contribution of Joseph Exchange Schumpeter to Economics Edited by Guido Erreygers Economic development and institutional change 36 Economics as the Art of Richard Arena and Cecile Dangel Thought Essays in memory of 44 On the Development of Long- G. L. S. Shackle run Neo-Classical Theory Edited by Stephen F. Frowen and Tom Kompas Peter Earl 45 F. A. Hayek as a Political 37 The Decline of Ricardian Economist Economics Economic analysis and values Politics and economics in Edited by Jack Birner, post-Ricardian theory Pierre Garrouste and Susan Pashkoff Thierry Aimar 38 Piero Sraffa 46 Pareto, Economics and Society His life, thought and The mechanical analogy cultural heritage Michael McLure Alessandro Roncaglia 47 The Cambridge Controversies 39 Equilibrium and Disequilibrium in Capital Theory in Economic Theory A study in the logic of theory The Marshall-Walras divide development Michel de Vroey Jack Birner 40 The German Historical School 48 Economics Broadly Considered The historical and ethical Essays in honour of Warren J. approach to economics Samuels Edited by Yuichi Shionoya Edited by Steven G. Medema, Jeff Biddle and John B. Davis 41 Reflections on the Classical Canon in Economics 49 Physicians and Political Essays in honour of Samuel Economy Hollander Six studies of the work of doctor- Edited by Sandra Peart and economists Evelyn Forget Edited by Peter Groenewegen 50 The Spread of Political 57 Classics and Moderns in Economy and the Economics, Volume I Professionalisation of Essays on nineteenth and Economists twentieth century economic Economic societies in Europe, thought America and Japan in the Peter Groenewegen nineteenth century Massimo Augello and 58 Classics and Moderns in Marco Guidi Economics, Volume II Essays on nineteenth and 51 Historians of Economics and twentieth century economic Economic Thought thought The construction of disciplinary Peter Groenewegen memory Steven G. Medema and 59 Marshall’s Evolutionary Warren J. Samuels Economics Tiziano Raffaelli 52 Competing Economic Theories Essays in memory of 60 Money, Time and Rationality in Giovanni Caravale Max Weber Sergio Nisticò and Austrian connections Domenico Tosato Stephen D. Parsons 53 Economic Thought and Policy in 61 Classical Macroeconomics Less Developed Europe Some modern variations and The nineteenth century distortions Edited by Michalis Psalidopoulos James C. W. Ahiakpor and Maria-Eugenia Almedia Mata 62 The Historical School of 54 Family Fictions and Family Economics in England and Facts Japan Harriet Martineau, Adolphe Tamotsu Nishizawa Quetelet and the population question in England 1798–1859 63 Classical Economics and Brian Cooper Modern Theory Studies in long-period analysis 55 Eighteeth-Century Economics Heinz D. Kurz and Neri Salvadori Peter Groenewegen 64 A Bibliography of Female 56 The Rise of Political Economy in Economic Thought to 1940 the Scottish Enlightenment Kirsten K. Madden, Edited by Tatsuya Sakamoto and Janet A. Sietz and Michele Pujol Hideo Tanaka 65 Economics, Economists and 73 Knut Wicksell on Poverty Expectations No place is too exalted From microfoundations to Knut Wicksell macroeconomics Warren Young, Robert Leeson and 74 Economists in Cambridge William Darity Jnr. A study through their correspondence 1907–1946 66 The Political Economy of Public Edited by M. C. Marcuzzo and Finance in Britain, 1767–1873 A. Rosselli Takuo Dome 75 The Experiment in the History 67 Essays in the History of of Economics Economics Edited by Philippe Fontaine and Warren J. Samuels, Robert Leonard Willie Henderson, Kirk D. Johnson and 76 At the Origins of Mathematical Marianne Johnson Economics The Economics of 68 History and Political Economy A. N. Isnard (1748–1803) Essays in honour of P. D. Richard van den Berg Groenewegen Edited by Tony Aspromourgos and 77 Money and Exchange John Lodewijks Folktales and reality Sasan Fayazmanesh 69 The Tradition of Free Trade Lars Magnusson 78 Economic Development and Social Change 70 Evolution of the Market Process Historical roots and modern Austrian and Swedish economics perspectives Edited by Michel Bellet, George Stathakis and Sandye Gloria-Palermo and Gianni Vaggi Abdallah Zouache 79 Ethical Codes and Income 71 Consumption as an Investment Distribution The fear of goods from Hesiod to A study of John Bates Clark and Adam Smith Thorstein Veblen Cosimo Perrotta Guglielmo Forges Davanzati 72 Jean-Baptiste Say and the 80 Evaluating Adam Smith Classical Canon in Economics Creating the wealth of nations The British connection in French Willie Henderson classicism Samuel Hollander 81 Civil Happiness 88 The Years of High Econometrics Economics and human flourishing A short history of the generation in historical perspective that reinvented economics Luigino Bruni Francisco Louçã 82 New Voices on Adam Smith 89 David Hume’s Political Edited by Leonidas Montes and Economy Eric Schliesser Edited by Carl Wennerlind and Margaret Schabas 83 Making Chicago Price Theory Milton Friedman–George Stigler 90 Interpreting Classical correspondence, 1945–1957 Economics Edited by J. Daniel Hammond and Studies in long-period analysis Claire H. Hammond Heinz D. Kurz and Neri Salvadori 84 William Stanley Jevons and the 91 Keynes’s Vision Cutting Edge of Economics Why the Great Depression did Bert Mosselmans not return John Philip Jones 85 A History of Econometrics in France 92 Monetary Theory in Retrospect From nature to models The selected essays of Philippe Le Gall Filippo Cesarano Filippo Cesarano 86 Money and Markets A doctrinal approach 93 Keynes’s Theoretical Edited by Alberto Giacomin and Development Maria Cristina Marcuzzo From the tract to the general theory Toshiaki Hirai 87 Considerations on the Fundamental Principles of 94 Leading Contemporary Pure Political Economy Economists Vilfredo Pareto (Edited by Economics at the cutting edge Roberto Marchionatti and Edited by Steven Pressman Fiorenzo Mornati) Leading Contemporary Economists Economics at the cutting edge Edited by Steven Pressman First published 2009 by Routledge 2 Park Square, Milton Park, Abingdon, Oxon OX14 4RN Simultaneously published in the USA and Canada by Routledge 270 Madison Ave, New York, NY 10016 This edition published in the Taylor & Francis e-Library, 2008. “To purchase your own copy of this or any of Taylor & Francis or Routledge’s collection of thousands of eBooks please go to www.eBookstore.tandf.co.uk.” Routledge is an imprint of the Taylor & Francis Group, an informa business © 2009 Selection and editorial matter, Steven Pressman; individual chapters, the contributors All rights reserved. No part of this book may be reprinted or reproduced or utilised in any form or by any electronic, mechanical, or other means, now known or hereafter invented, including photocopying and recording, or in any information storage or retrieval system, without permission in writing from the publishers. British Library Cataloguing in Publication Data A catalogue record for this book is available from the British Library Library of Congress Cataloging in Publication Data A catalog record for this book has been requested ISBN 0-203-89309-3 Master e-book ISBN ISBN10: 0-415-77501-9 (hbk) ISBN10: 0-203-89309-3 (ebk) ISBN13: 978-0-415-77501-4 (hbk) ISBN13: 978-0-203-89309-8 (ebk) To Jane, with love Contents Notes on contributors xv 1 Leading contemporary economists: an introduction to their cutting-edge work 1 STEVEN PRESSMAN 2 The economic contributions of David M.