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Reinterpreting Mr. Keynes Warren Young

Reinterpreting Mr. Keynes By Warren Young

Reinterpreting Mr. Keynes by Warren Young


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Summary

This book examines the origins of the IS-LM model, one of the most significant innovations in the history of economic thought.

Reinterpreting Mr. Keynes Summary

Reinterpreting Mr. Keynes: The IS-LM Enigma Revisited by Warren Young

This book examines the origins of the IS-LM model, one of the most significant innovations in the history of economic thought. It shows that the complete IS-LM model, including the equations and diagram, was produced by a group of economists who contributed their respective mathematical models of Keyness General Theory, including Champernowne, Reddaway, Harrod, and Meade, not to mention Hicks. Furthermore, the book discusses the implications of newly discovered archival material, including a previously overlooked document showing that John Maynard Keynes himself was the first to present the IS-LM model equations in a lecture he gave on December 4, 1933. It focuses on the implications of this material in terms of understanding the evolution of Keyness approach from 1933 to 1937, later interpreters of his General Theory, and the ongoing debate between Keynesians and Post-Keynesians on the nature of his system. Given the revelations it presents, this book will transform the professions understanding of the origins of the IS-LM model and modern macroeconomics.


About Warren Young

Warren Young is a Professor Emeritus, Economics, Bar Ilan University, Israel. He is the author and editor of 14 books and over 70 academic papers. He is the author of "Interpreting Mr Keynes: the IS-LM Enigma" (Polity and Westview, 1987). He was a visiting scholar at Carnegie-Mellon University and former adviser, Archives Project, Federal Reserve Bank of Minneapolis.

Edward W. Fuller is an independent researcher in economics. He is editor of"A Source Book on Early Monetary Thought", "Mises A to Z", and "Rothbard A to Z". He has published articles in a wide variety of journals, including Cambridge Journal of Economics, Quarterly Journal of Austrian Economics, and Review of Austrian Economics.

Table of Contents

Introduction, Keyness Own IS-LM Approach.-Prologue to Keyness IS-LM, 1930 to 1932.-The Advent of Keyness IS-LM, 1933.-The Missing Link: Keyness Own Lecture Notes, December 4, 1933, Impact and Implications.-Reconstructing Keyness IS-LM Approach, 1931 to 1937.-Keyness Equations and Early Post-General Theory IS-LM Models.-The Legacy of December 1933: Re-Interpreting Mr Keynes.

Additional information

NPB9783030913441
9783030913441
3030913449
Reinterpreting Mr. Keynes: The IS-LM Enigma Revisited by Warren Young
New
Paperback
Springer Nature Switzerland AG
2023-01-21
161
N/A
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