A ‘Walrasian post-Keynesian’ model? Resolving the paradox of Oskar Lange’s 1938 theory of interest
in Cambridge Journal of Economics
January 2014; p ublished online July 2013 .
Journal Article. Subjects: General Equilibrium and Disequilibrium; Macroeconomics: Consumption, Saving, Production, Employment, and Investment; General Aggregative Models; Capitalist Systems; History of Economic Thought (1925 onwards). 11726 words.
This article investigates Oskar Lange’s 1938 article, ‘The rate of interest and the optimum propensity to consume’, with the intention of providing a thorough interpretation of this rather...
Adam Smith on markets, competition and violations of natural liberty
in Cambridge Journal of Economics
March 2016; p ublished online March 2015 .
Journal Article. Subjects: History of Economic Thought (to 1925); History of Economic Thought (1925 onwards); Information, Knowledge, and Uncertainy; Market Structure and Pricing; Economics; Financial Regulation. 12976 words.
According to Adam Smith, markets and trade are, in principle, good things—provided there is competition and a regulatory framework that prevents ruthless selfishness, greed and rapacity...
Against Mechanism: Methodology for an Evolutionary Economics
in American Journal of Agricultural Economics
December 1999; p ublished online December 1999 .
Journal Article. Subjects: General Economics; Economic Methodology; History of Economic Thought (1925 onwards). 0 words.
Aggregate structural macroeconomic analysis: a reconsideration and defence
in Cambridge Journal of Economics
July 2014; p ublished online December 2013 .
Journal Article. Subjects: Economic Methodology; History of Economic Thought (1925 onwards). 10667 words.
Aggregate structural macroeconomic analysis (ASMA) is frequently criticised for being ad hoc and justified (if at all) only as a pragmatic expedient. This paper argues instead that ASMA is...
Agricultural Economics and Economics: Influence and Counter-Influence, 1910–1960
in Applied Economic Perspectives and Policy
March 2015; p ublished online October 2014 .
Journal Article. Subjects: History of Economic Thought (1925 onwards); Agricultural Economics. 14671 words.
This paper examines the effects which agricultural economists had on developments in economics and on economic policies during the years 1910-1960. These developments are viewed against the...
Ambiguity and uncertainty in Ellsberg and Shackle
in Cambridge Journal of Economics
May 2010; p ublished online March 2009 .
Journal Article. Subjects: Information, Knowledge, and Uncertainy; History of Economic Thought (1925 onwards). 14298 words.
This paper argues that the similarities between Ellsberg's and Shackle's frameworks for discussing the limits of the probabilistic approach to decision theory are more important than...
An ‘unproductive labour’ view of finance
in Cambridge Journal of Economics
November 2012; p ublished online October 2012 .
Journal Article. Subjects: General Economics; Financial Institutions and Services; History of Economic Thought (1925 onwards). 9021 words.
The present paper discusses the role of the financial sector in a capitalist economy, arguing that the huge increase in its weight (economic and otherwise) in the last decades is not...
At the crossroads: the euro and its central bank guardian (and saviour?)
in Cambridge Journal of Economics
May 2013; p ublished online April 2013 .
Journal Article. Subjects: Monetary Policy, Central Banking, and the Supply of Money and Credit; Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook; History of Economic Thought (1925 onwards). 9542 words.
This paper investigates the role of the European Central Bank (ECB) in the (mal)functioning of Europe’s Economic and Monetary Union (EMU), focusing on the German intellectual and historical...
The autonomisation of abstract wealth: new insights on the labour theory of value
in Cambridge Journal of Economics
July 2016; p ublished online June 2015 .
Journal Article. Subjects: Economic Methodology; History of Economic Thought (to 1925); History of Economic Thought (1925 onwards). 9345 words.
We theorise the forms of value in the Marxist system in a way that challenges the dominant tradition. The standard procedure has been to read Marx’s Capital as an analysis that...
Capital’s humpback bridge: ‘financialisation’ and the rate of turnover in Marx’s economic theory
in Cambridge Journal of Economics
September 2015; p ublished online November 2014 .
Journal Article. Subjects: General Aggregative Models; Economic Methodology; History of Economic Thought (1925 onwards). 16152 words.
The article aims to shed light on the role played by the ‘rate of turnover’ of capital in Marx’s economic theory. Oddly enough, such a concept has been neglected by most of Marx’s scholars...
