Chapter

The Years of High Theory: II

Ernesto Screpanti and Stefano Zamagni

in An Outline of the History of Economic Thought

Published in print August 1995 | ISBN: 9780198774556
Published online November 2003 | e-ISBN: 9780191717383 | DOI: http://dx.doi.org/10.1093/0198774559.003.0009
 The Years of High Theory: II

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Deals with the reaction of the Neoclassical School to the criticism levied against it in the inter‐war period. Emphasizes the developments of general equilibrium theory and the birth of the new welfare economics due to L. Robbins. Examines the debate on economic calculation under socialism and the birth of the institutional school due to T. Veblen.

Keywords: compensation tests; existence theorem; imperfect competition; input–output; IS–LM model; Von Neumann model

Chapter.  22758 words.  Illustrated.

Subjects: History of Economic Thought

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