The Years of High Theory: Invention and Tradition in Economic Thought 1926-1939Even a decade after the end of the 1914-1918 war, economic theory assumed that the world was tranquil and orderly. By 1939 an economic slump without parallel, allied to the re-emergence of military ambition in Europe, had brought economic theorists face to face with reality. In this classic book, first published in 1967, Professor Shackle provides a study, in exact and professional language, of the precise nature, structure, presuppositions, language and inter-relations of the theories which were formulated in these fourteen years - unparalleled in the whole history of economics except perhaps by the years of the Physiocrats and Adam Smith. These theories are not prototypes on the way to something better but are of essential and permanent importance. |
Contents
a casestudy procedure page | 1 |
Sraffa and the state of value theory 1926 | 13 |
Marginal revenue | 22 |
The indifferencecurve | 71 |
Two theories of demand | 84 |
Myrdals analysis | 94 |
The anatomy of the General Theory | 135 |
Spending saving and demand | 161 |
Other editions - View all
The Years of High Theory: Invention and Tradition in Economic Thought 1926-1939 G. L. S. Shackle No preview available - 1967 |
The Years of High Theory: Invention and Tradition in Economic Thought 1926-1939 G. L. S. Shackle No preview available - 1967 |
Common terms and phrases
analysis argument asset assumption average bonds capital value chapter circumstances commodity conception consumers consumption cost curve Cournot decisions demand and supply demand curve depends desired Economic Journal economic theory efficiency of capital entrepreneurs equal equipment ex ante ex post existing expected expressed extra factors of production firm firm's formal Fundamental Equation future given Harrod Hicks idea increase increment indifference-curves individual inducement to invest industry interest-rate interval J. M. Keynes Keynes Keynes's liquidity preference marginal cost marginal efficiency marginal revenue Marshall Marshall's means mechanism ment monetary equilibrium monopolistic competition Multiplier Myrdal nature net investment notion Ohlin output Pareto perfect competition price-level Professor profit quantity of money rate of interest reference revenue curve Robinson saving and investment Sir Roy Harrod Sraffa supply curve supply price suppose Theory of Employment things tion Treatise unit cost value theory variables whole Wicksell Wicksell's Wicksellian