000			01285nam a2200193Ia 4500
999			_c41748 _d41748
005			20220414004022.0
008			200204s9999 xx 000 0 und d
020			_a9780333516577
082			_a330.15 BIG
100			_aBigg, Robet J.
245		0	_aCambridge and the monetary theory of production : _bthe collapse of Marshallian macroeconomic
260			_aLondon
260			_bMacmillan Press
260			_c1990
300			_a228p.
520			_aLess than fifty years after the publication of Marshall's Principles Cambridge once again set economics on a new path with the publication of Keynes's General Theory. This book examines the developments in Cambridge monetary and trade cycle theory that were moving it forwards but were also sowing the seeds for the collapse of the Marshallian neoclassical framework. The analysis shows how Cambridge economists such as Keynes, Robertson, Lavington and Hawtrey had built on the foundations of Marshall and Pigou to produce theories of adaptive behaviour which acknowledged that the invisible hand could fail in the short run. This established a conflict with the long run theory of market clearing equilibrium which, though it could be ignored at first, had finally to be resolved.
650			_aMonetary Policy
942			_cB _2ddc