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Lionel Robbins on the Principles of Economic Analysis
Lionel Robbins (1898–1984) is best known to economists for his Essay on the Nature and Significance of Economic Science (1932 and 1935). To the wider public he is well known for the 'Robbins Report' of the 1960s on Higher Education, which recommended a major expansion of university education in Britain. However, throughout his academic career – at Oxford and the London School of Economics in the 1920s, and as Professor of Economics at the School from 1929 to 1961 – he was renowned as an exceptionally gifted teacher. Generations of students remember his lectures for their clarity and comprehensiveness and for his infectious enthusiasm for his subject. Besides his famous graduate seminar...
The History of Economic Thought: A Reader
This new reader in the history of economic thought is edited by two of the most respected figures in the field. With clearly written summaries putting each selection into context, this book will be of great use to students and lecturers of the history of economic thought as it goes beyond the simple reprinting of articles. Selections and discussions include such thinkers as Aristotle, John Locke, François Quesnay, David Hume, Jean-Baptiste Say, Karl Marx, William Stanley Jevons, Irving Fisher and Thorstein Veblen. The History of Economic Thought: A Reader can be used as a core textbook or as a supplementary text on courses in economic thought and philosophy, and will provide readers with a good foundation in the different schools of thought that run through economics.
Lionel Robbins
By the time of his death the English economist Lionel Robbins (1898–1984) was celebrated as a 'renaissance man'. He made major contributions to his own academic discipline and applied his skills as an economist not only to practical problems of economic policy – with conspicuous success when he served as head of the economists advising the wartime coalition government of Winston Churchill in 1940–45 – and of higher education – the 'Robbins Report' of 1963 – but also to the administration of the visual and performing arts that he loved deeply. He was devoted to the London School of Economics, from his time as an undergraduate following active service as an artillery officer on the Western Front in 1917–18, through his years as Professor of Economics (1929–62), and his stint as chairman of the governors during the 'troubles' of the late 1960s. This comprehensive biography, based on his personal and professional correspondence and other papers, covers all these many and varied activities.
Lessons from the Great Depression
Lessons from the Great Depression provides an integrated view of the depression, covering the experience in Britain, France, Germany, and the United States. Do events of the 1930s carry a message for the 1990s? Lessons from the Great Depression provides an integrated view of the depression, covering the experience in Britain, France, Germany, and the United States. It describes the causes of the depression, why it was so widespread and prolonged, and what brought about eventual recovery. Peter Temin also finds parallels in recent history, in the relentless deflationary course followed by the U.S. Federal Reserve Board and the British government in the early 1980s, and in the dogged adherence by the Reagan administration to policies generated by a discredited economic theory—supply-side economics.
Economics After the Crisis
A noted economist challenges the fundamental economic assumptions that cast economic growth as the objective and markets as the universally applicable means of achieving it. The global economic crisis of 2008–2009 seemed a crisis not just of economic performance but also of the system's underlying political ideology and economic theory. But a second Great Depression was averted, and the radical shift to New Deal-like economic policies predicted by some never took place. Perhaps the correct response to the crisis is simply careful management of the macroeconomic challenges as we recover, combined with reform of financial regulation to prevent a recurrence. In Economics After the Crisis, Adair Turner offers a strong counterargument to this somewhat complacent view. The crisis of 2008–2009, he writes, should prompt a wide set of challenges to economic and political assumptions and to economic theory. Turner argues that more rapid growth should not be the overriding objective for rich developed countries, that inequality should concern us, that the pre-crisis confidence in financial markets as the means of pursuing objectives was profoundly misplaced.
Poland's Jump to the Market Economy
In Poland's jump to the Market Economy, Jeffrey Sachs provides an insider's analysis of the political events and economic strategy behind the country's swift transition to capitalism and democracy. The greatest challenges to economic reform, Sachs points out, have been primarily political in nature, rather than social or even economic.Sachs reviews Poland's striking progress since the start of the economic reforms three years ago, which he helped to design. He discusses the gains - more than half of employment and GDP is now in the private sector, exports to Western Europe have more than doubled, and economic growth and confidence are returning - as well as the serious problems that remain -...
Central Banking in Theory and Practice
Alan S. Blinder offers the dual perspective of a leading academic macroeconomist who served a stint as Vice-Chairman of the Federal Reserve Board—one who practiced what he had long preached and then returned to academia to write about it. He tells central bankers how they might better incorporate academic knowledge and thinking into the conduct of monetary policy, and he tells scholars how they might reorient their research to be more attuned to reality and thus more useful to central bankers. Based on the 1996 Lionel Robbins Lectures, this readable book deals succinctly, in a nontechnical manner, with a wide variety of issues in monetary policy. The book also includes the author's suggested solution to an age-old problem in monetary theory: what it means for monetary policy to be "neutral."
A Brain-Focused Foundation for Economic Science
This book argues that Lionel Robbins’s construction of the economics field’s organizing cornerstone, scarcity—and all that has been derived from it from economists in Robbins’s time to today—no longer can generate general consent among economists. Since Robbins’ Essay, economists have learned more than Robbins and his cohorts could have imagined about human decision making and about the human brain that is the lynchpin of human decision making. This book argues however that behavioral economists and neuroeconomists, in pointing to numerous ways people fall short of perfectly rational decisions (anomalies, biases, and downright errors), have saved conventional economics from such self-contradictions in what could be viewed as a wayward approach. This book posits that the human brain is the ultimate scarce resource, and that a focus on the brain can bring a new foundation for economics and can save the discipline from hostile criticisms from a variety of non-economists (many psychologists).
