Richard F. Kahn: Collected Economic Essays

Description

This book brings together important essays by Richard F. Kahn, Keynes’s pupil and literary executor and one of the most influential economists in the Cambridge tradition. The essays address issues, including imperfect competition, pricing mechanisms, inflation, unemployment, and the regulation of international trade and finance, that are highly relevant and topical They are addressed from a Keynesian perspective, with the interface between economic theory and policy explored. With the inclusion of a new introduction, the essays are placed in their own context and offer the key to understand their relevance for the present. Richard F. Kahn: Collected Economic Essays is a fitting companion to the 1972 collection of essays, edited by Kahn himself. It will be of interest to scholars and students as a key to an outstanding economist and a great figure in the Keynesian tradition. Contents Sources Chapter 1: Introduction Competition Theory: Market Imperfections and Entrepreneurial Behaviour Employment Theory: The Keynesian Approach and the Relationship with Keynes International Money and Trade Unemployment, Wages and Inflation Conclusions References Part I: Imperfect Competition Chapter 2: Imperfect Competition and the Marginal Principle I II III IV V VI VII Chapter 3: The Problem of Duopoly Chapter 4: Oxford Studies in the Price Mechanism Part II: Keynes Chapter 5: The Cambridge ‘Circus’ PUBLISHED ACCOUNTS OF THE CIRCUS Chapter 6: Some Aspects of the Development of Keynes’s Thought References Chapter 7: ‘The General Theory of Employment, Interest and Money’ Introduction The word ‘general’ The character of the achievement The money-wage The propensity to consume Liquidity preference Introduction Basic concept Exclusion of assets other than fixed-interest securities The inducement to invest: foreword The inducement to invest: Keynes’ basic chapter Introduction Risk and uncertainty Keynes’ chapter on investment in real life Introduction The role of equity prices Extracts from Chapter 12 which do not suggest influences on real investment Extracts from Chapter 12 which do suggest influences on real investment Limitations of the ‘General Theory’ Misconceptions about the General Theory Keynes’ provocative tone The post ‘General Theory’ Keynes on ‘finance’ Keynes and finance The crowding-out effect in some quarters to-day The inducement to invest in real life Part III: International Money and Trade Chapter 8: International Regulation of Trade and Exchanges Chapter 9: The International Monetary System Chapter 10: Historical Origins of the International Monetary Fund Part IV: Unemployment and Inflation Chapter 11: Unemployment as seen by the Keynesians Postscript Chapter 12: Thoughts on the Behaviour of Wages and Monetarism Sir John Hicks on the Causation of Inflation The Vicious Wage-Wage Spiral Wage Differentials Why the United Kingdom is Heavily Subject to Inflation Wage Inflation and Unemployment Alternative Occupations for Trade-Union Officials Inflation before 1973 The Public Sector Borrowing Requirement and the Behaviour of the Quantity of Money The Chancellor’s Task Chapter 13: Inflation—A Keynesian View References List of Richard F. Kahn’s Publications 1931 1932 1933 1935 1936 1937 1938 1939 1946 1947 1948 1949 1950 1951 1952 1953 1954 1955 1956 1957 1958 1959 1961 1962 1963 1964 1965 1966 1967 1968 1969 1971 1972 1973 1974 1975 1976 1977 1978 1983 1984 1985 1987 1988 1989 Index