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Article
Publication date: 1 March 1984

Hans E. Jensen

Kendall P. Cochran has claimed that John Maynard Keynes “developed a theory that would try ‘to account for things as they are’. In so doing he became another important social…

Abstract

Kendall P. Cochran has claimed that John Maynard Keynes “developed a theory that would try ‘to account for things as they are’. In so doing he became another important social economist.

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International Journal of Social Economics, vol. 11 no. 3/4
Type: Research Article
ISSN: 0306-8293

Book part
Publication date: 8 April 2015

Luca Fiorito

This note presents new archival evidence about John Maynard Keynes’ attitudes toward Jews. The relevant material is composed of two letters sent by Robert G. Wertheimer to…

Abstract

This note presents new archival evidence about John Maynard Keynes’ attitudes toward Jews. The relevant material is composed of two letters sent by Robert G. Wertheimer to Bertrand Russell and Richard F. Kahn along with their replies. Between 1963 and 1964, Wertheimer – an Austrian-born Jewish immigrant then professor of economics at Babson College – wrote to Russell and Kahn asking for their personal reminiscences concerning Keynes’ anti-Semitic utterances. In their brief but still significant responses, both Russell and Kahn firmly denied any hint of anti-Semitism in Keynes, thereby providing significant first-hand testimonies from two of his closest acquaintances.

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A Research Annual
Type: Book
ISBN: 978-1-78441-857-1

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Economics, Econometrics and the LINK: Essays in Honor of Lawrence R.Klein
Type: Book
ISBN: 978-0-44481-787-7

Book part
Publication date: 27 January 2022

Suzanne J. Konzelmann, Victoria Chick and Marc Fovargue-Davies

The debate about corporate purpose is a recurring one that has re-emerged today. What should be the guiding principles of business: the pursuit of profit or a contribution to…

Abstract

The debate about corporate purpose is a recurring one that has re-emerged today. What should be the guiding principles of business: the pursuit of profit or a contribution to public interest? We trace key elements in this debate in Britain and America, from the interwar years, when John Maynard Keynes and Adolf Berle made important contributions, to the 1970s, when events ushered in a return to laissez-faire and the rise to dominance of the shareholder primacy model of corporate governance and purpose, to today. Both the earlier and the current debates are centered around whether we see business institutions as strictly private entities, transacting with their suppliers, workers, and customers on terms agreed with or imposed upon these groups, or as part of society at large and therefore expected to contribute to what society deems to be its interests. Whether current developments will ultimately produce a shift in corporate purpose akin to the one that followed the Second World War remains to be seen. But the parallels to the interwar debates, and the uncertain economic, political, and social environments in which they took place, are striking. Our objective is to see what might be learned from the past to inform the current direction of thought concerning capitalism and corporate purpose.

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The Corporation: Rethinking the Iconic Form of Business Organization
Type: Book
ISBN: 978-1-80043-377-9

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Article
Publication date: 1 March 1995

Lewis E. Hill

Contrasts the methodologies and policy implications of therespective theories of John Maynard Keynes and Alvin Hansen. Keynes useda rationalistic epistemology and deductive logic…

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Abstract

Contrasts the methodologies and policy implications of the respective theories of John Maynard Keynes and Alvin Hansen. Keynes used a rationalistic epistemology and deductive logic to deduce a pure theory of employment which implied that monetary policy would be an appropriate remedy for unemployment. Hansen used an empirical epistemology and inductive logic to formulate an applied theory of employment which explained the causes of the Great Depression in the USA. Hansen′s theory of secular stagnation implied that a compensatory fiscal policy would be an effective remedy for unemployment. The respective theories of Keynes and Hansen are complementary, rather than contradictory; therefore, social economists should utilize both of these theories under appropriate circumstances.

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International Journal of Social Economics, vol. 22 no. 3
Type: Research Article
ISSN: 0306-8293

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Abstract

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Economics, Econometrics and the LINK: Essays in Honor of Lawrence R.Klein
Type: Book
ISBN: 978-0-44481-787-7

Book part
Publication date: 18 April 2015

Harald Hagemann

The first foreign-language publication of The General Theory of Employment, Interest and Money by John Maynard Keynes was published in German in the same year as the English…

Abstract

The first foreign-language publication of The General Theory of Employment, Interest and Money by John Maynard Keynes was published in German in the same year as the English original in 1936. The article discusses some quality problems of the translation, but focuses in particular on the controversies which evolved around interpretations of the Preface Keynes wrote for the German edition. Whereas a margin of doubt remains as to the responsibility for the text which finally appeared in German, any accusations that Keynes had sympathies for or was indifferent to the Nazi regime are clearly rejected.

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Histories of Economic Thought
Type: Book
ISBN: 978-0-76230-997-9

Book part
Publication date: 9 February 2024

Attilio Trezzini

Hazel Kyrk’s contribution is the most advanced formulation of the economics of consumption as a social phenomenon, an approach to the analysis of consumption that, originated from…

Abstract

Hazel Kyrk’s contribution is the most advanced formulation of the economics of consumption as a social phenomenon, an approach to the analysis of consumption that, originated from Veblen’s theory, was developed in the US in the early 20th century. This approach was part of a wider stream of empirical analyses of consumption expenditure that had begun more than a century earlier.

Along with elements that can be traced back to the neoclassical tradition, in Keynes’ analysis of consumption, we find original elements. The dependence of consumption expenditure on the level of income, which is essential for asserting the principle of effective demand, can also be found in a long tradition of empirical studies. In qualifying this relationship, Keynes uses theoretical elements echoing key insights of the economics of consumption as a social phenomenon. There is no documentary evidence that Kyrk or the economics of the social relevance of consumption came to Keynes’ attention. It is possible, however, to develop reasonable speculative considerations to argue a link between Keynes’ elaboration and both the empirical literature on the determinants of consumption and the economics of consumption as a social phenomenon.

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Research in the History of Economic Thought and Methodology: Including a Symposium on Hazel Kyrk's: A Theory of Consumption 100 Years after Publication
Type: Book
ISBN: 978-1-80455-991-8

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