000			02117nam a2200205Ia 4500
999			_c177604 _d177604
005			20220413220238.0
008			200208s9999 xx 000 0 und d
020			_a9780199846658
082			_a330.156 GOO
100			_aGoodspeed;Beck Tyler
245		0	_aRethinking the keynesian revolution
260			_aNew York
260			_bOxford
260			_c2012
300			_a193
365			_dINR
520			_aWhile standard accounts of the 1930s debates surrounding economic thought pit John Maynard Keynes against Friedrich von Hayek in a clash of ideology, this reflexive dichotomy is in many respects superficial. It is the argument of this book that both Keynes and Hayek developed their respective theories of the business cycle within the tradition of Swedish economist Knut Wicksell, and that this shared genealogy manifested itself in significant theoretical affinities between the two supposed antagonists. The salient features of Wicksell's work, namely the importance of money, the role of uncertainty, coordination failures, and the element of time in capital accumulation, all motivated the Keynesian and Hayekian theories of economic fluctuations. They also contributed to a fundamental convergence between the two economists during the 1930s. This shared, 'Wicksellian' vision of economic problems points to a very different research agenda from that of the Walrasian-style, general equilibrium analysis that has dominated postwar macroeconomics. This book will appeal to economists interested in historical perspective of their discipline, as well as historians of economic thought. The author not only deconstructs some of the historical misconceptions of the Keynes versus Hayek debate, but also suggests how the insights uncovered can inform and instruct modern theory. While much of the analysis is technical, it does not assume previous knowledge of 1930s economic theory, and should be accessible to economists, political scientists, and historians with general economics training, as well as to graduate students in these fields.
650			_aKeynesion economics
942			_cB _2ddc