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Neo-Ricardianism
The neo-Ricardian school is an economic school of thought that derives from the close reading and interpretation of David Ricardo by Piero Sraffa, and from Sraffa's critique of neoclassical economics as presented in his ''The Production of Commodities by Means of Commodities'', and further developed by the neo-Ricardians in the course of the Cambridge capital controversy. It particularly disputes neoclassical theory of income distribution. Prominent neo-Ricardians are usually held to include Pierangelo Garegnani, Krishna Bharadwaj, Luigi Pasinetti, Joan Robinson, John Eatwell, Fernando Vianello, Murray Milgate, Ian Steedman, Heinz D. Kurz, Neri Salvadori, Bertram Schefold, Fabio Petri, Massimo Pivetti, Franklin Serrano, Fabio Ravagnani, Roberto Ciccone, Sergio Parrinello, Alessandro Roncaglia, Maurice Dobb, Gilbert Abraham-Frois, Theodore Mariolis and Giorgio Gilibert. The school partially overlaps with post-Keynesian and neo-Marxian economics. See also *Cambridge ca ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Schools Of Economic Thought
In the history of economic thought, a school of economic thought is a group of economics, economic thinkers who share or shared a common perspective on the way economy, economies work. While economists do not always fit into particular schools, particularly in modern times, classifying economists into schools of thought is common. Economic thought may be roughly divided into three phases: premodern (Greco-Roman, History of India, Indian, Persian Empire, Persian, Caliphate, Islamic, and Imperial era of Chinese history, Imperial Chinese), early modern (mercantilist, physiocrats) and modern (beginning with Adam Smith and classical economics in the late 18th century, and Karl Marx and Friedrich Engels, Friedrich Engels' Marxian economics in the mid 19th century). Systematic economic theory has been developed mainly since the beginning of what is termed the modern era. Currently, the great majority of economists follow an approach referred to as mainstream economics (sometimes called 'o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Luigi Pasinetti
Luigi L. Pasinetti (born 12 September 1930) is an Italian economist of the post-Keynesian school. Pasinetti is considered the heir of the " Cambridge Keynesians" and a student of Piero Sraffa and Richard Kahn. Along with them, as well as Joan Robinson, he was one of the prominent members on the "Cambridge, UK" side of the Cambridge capital controversy. His contributions to economics include developing the analytical foundations of neo-Ricardian economics, including the theory of value and distribution, as well as work in the line of Kaldorian theory of growth and income distribution. He has also developed the theory of structural change and economic growth, structural economic dynamics and uneven sectoral development. Biography Pasinetti was born on 12 September 1930 in Zanica, near Bergamo, in the north of Italy. He began his economics studies at Milan's Università Cattolica, where he obtained his “laurea” degree in 1954. The thesis that he presented dealt with economet ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Post-Keynesian Economics
Post-Keynesian economics is a school of economic thought with its origins in ''The General Theory'' of John Maynard Keynes, with subsequent development influenced to a large degree by Michał Kalecki, Joan Robinson, Nicholas Kaldor, Sidney Weintraub, Paul Davidson, Piero Sraffa and Jan Kregel. Historian Robert Skidelsky argues that the post-Keynesian school has remained closest to the spirit of Keynes' original work. It is a heterodox approach to economics. Introduction The term "post-Keynesian" was first used to refer to a distinct school of economic thought by Alfred Eichner, Eichner and Kregel (1975) and by the establishment of the ''Journal of Post Keynesian Economics'' in 1978. Prior to 1975, and occasionally in more recent work, ''post-Keynesian'' could simply mean economics carried out after 1936, the date of Keynes's ''General Theory''. Post-Keynesian economists are united in maintaining that Keynes' theory is seriously misrepresented by the two other principal Keyne ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
David Ricardo
David Ricardo (18 April 1772 – 11 September 1823) was a British Political economy, political economist. He was one of the most influential of the Classical economics, classical economists along with Thomas Robert Malthus, Thomas Malthus, Adam Smith and James Mill. Ricardo was also a politician, and a member of the Parliament of the United Kingdom, Parliament of Great Britain and Ireland. Personal life Born in London, England, Ricardo was the third surviving of the 17 children of successful stockbroker Abraham Israel Ricardo (1733?–1812) and Abigail (1753-1801), daughter of Abraham Delvalle (also "del Valle"), of a respectable Sephardi Jews, Sephardic Jewish family that had been settled in England for three generations as "small but prosperous" tobacco and snuff merchants, and had obtained British citizenship. Abigail's sister, Rebecca, was wife of the engraver Wilson Lowry, and mother of the engraver Joseph Wilson Lowry and the geologist, mineralogist, and author Delvalle ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ian Steedman
Ian Steedman (born 1941, in London) was for many years a professor of economics at the University of Manchester before moving down the road to Manchester Metropolitan University. He retired from there at the end of 2006, but was appointed as an emeritus professor. His work Steedman has been recognised as one of the leading Neo-Ricardian economic theorists with work in the areas overlapping with those of Marx, Sraffa, Marshall, Jevons and Wicksteed. He has also made contributions to economic theory on time, international trade, capital theory and growth and distribution. He is also a senior research fellow at the William Temple Foundation William is a male given name of Germanic origin.Hanks, Hardcastle and Hodges, ''Oxford Dictionary of First Names'', Oxford University Press, 2nd edition, , p. 276. It became very popular in the English language after the Norman conquest of Eng ..., and his work now includes the study of "happiness" and its relation to welfare economics. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fernando Vianello
Fernando Vianello (17 August 1939 – 10 August 2009) was an Italian economist and academic. Together with Michele Salvati, Sebastiano Brusco, Andrea Ginzburg and Salvatore Biasco, he founded the Faculty of Economics of the University of Modena and Reggio Emilia. Education In 1963 Vianello graduated with a degree in Law from the University of Bologna, presenting a thesis on Italian economic development under the supervision of Paolo Sylos Labini. In the same year he attended the sixth training course on "Economic Development" organized in Rome by SVIMEZ (Italian Association of Southern Italy's Industries Development), managed by Claudio Napoleoni. From 1964 to 1966 he was an assistant professor in the "''Principles of Political Economy''" course held by Sylos Labini at the Faculty of Statistics of the "Sapienza" University of Rome. In 1966 Vianello enrolled as an undergraduate student at Jesus College, Cambridge, and began attending economic courses taught by Joan Robinson, Nic ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ricardian Economics
Ricardian economics are the economic theories of David Ricardo, an English political economist born in 1772 who made a fortune as a stockbroker and loan broker.Henderson 826Fusfeld 325 At the age of 27, he read '' An Inquiry into the Nature and Causes of Wealth of Nations'' by Adam Smith and was energized by the theories of economics. His main economic ideas are contained in ''On the Principles of Political Economy and Taxation'' (1817). This set out a series of theories which would later become theoretical underpinnings of both Marx's ''Das Kapital'' and Marshallian economics, including the theory of economic rent, the labour theory of value and above all the theory of comparative advantage. Ricardo wrote his first economic article ten years after reading Adam Smith and ultimately, the "bullion controversy" gave him fame in the economic community for his theory on inflation in 19th-century England. This theory became known as monetarism, the theory that excess currency leads ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Krishna Bharadwaj (economist)
Krishna Bharadwaj (21 August 1935 – 8 March 1992) was an Indian Neo-Ricardian economist mainly known for her contributions to the economic development theory and the revival of the ideas of classical economics. She believed that economic theory should be based on concepts which can be observed and be amenable to measurement in reality. Early life and education Bharadwaj was born on 21 August 1935 in Karwar Karwar is a seaside city, ''taluka'', and administrative headquarters of Uttara Kannada district lying at the mouth of the Kali river on the Kanara coast of Karnataka state, India. Karwar is a popular tourist destination and with a city urba ..., Karnataka, into a Konkani Saraswat Brahmin family. She was the youngest of the six children of M. S. Chandravarkar, a teacher in a local college, and his wife Shantabai. The family shifted to Belgaum in 1939, and Bhardwaj was schooled in that city. She learnt Hindustani classical music and won many local competitions by t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Roberto Ciccone
The name Robert is an ancient Germanic given name, from Proto-Germanic "fame" and "bright" (''Hrōþiberhtaz''). Compare Old Dutch ''Robrecht'' and Old High German ''Hrodebert'' (a compound of '' Hruod'' ( non, Hróðr) "fame, glory, honour, praise, renown" and ''berht'' "bright, light, shining"). It is the second most frequently used given name of ancient Germanic origin. It is also in use as a surname. Another commonly used form of the name is Rupert. After becoming widely used in Continental Europe it entered England in its Old French form ''Robert'', where an Old English cognate form (''Hrēodbēorht'', ''Hrodberht'', ''Hrēodbēorð'', ''Hrœdbœrð'', ''Hrœdberð'', ''Hrōðberχtŕ'') had existed before the Norman Conquest. The feminine version is Roberta. The Italian, Portuguese, and Spanish form is Roberto. Robert is also a common name in many Germanic languages, including English, German, Dutch, Norwegian, Swedish, Scots, Danish, and Icelandic. It can be use ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Okishio's Theorem
Okishio's theorem is a theorem formulated by Japanese economist Nobuo Okishio. It has had a major impact on debates about Marx's theory of value. Intuitively, it can be understood as saying that if one capitalist raises his profits by introducing a new technique that cuts his costs, the collective or general rate of profit in society goes up for all capitalists. In 1961, Okishio established this theorem under the assumption that the real wage remains constant. Thus, the theorem isolates the effect of pure innovation from any consequent changes in the wage. For this reason the theorem, first proposed in 1961, excited great interest and controversy because, according to Okishio, it contradicts Marx's law of the tendency of the rate of profit to fall. Marx had claimed that the new general rate of profit, after a new technique has spread throughout the branch where it has been introduced, would be lower than before. In modern words, the capitalists would be caught in a rationality trap ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cambridge Capital Controversy
The Cambridge capital controversy, sometimes called "the capital controversy"Brems (1975) pp. 369-384 or "the two Cambridges debate", was a dispute between proponents of two differing theoretical and mathematical positions in economics that started in the 1950s and lasted well into the 1960s. The debate concerned the nature and role of capital goods and a critique of the neoclassical vision of aggregate production and distribution.Tcherneva (2011) The name arises from the location of the principals involved in the controversy: the debate was largely between economists such as Joan Robinson and Piero Sraffa at the University of Cambridge in England and economists such as Paul Samuelson and Robert Solow at the Massachusetts Institute of Technology, in Cambridge, Massachusetts, United States. The English side is most often labeled " post-Keynesian", while some call it " neo-Ricardian", and the Massachusetts side " neoclassical". Most of the debate is mathematical, while some ma ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
