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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…

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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

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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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Book part
Publication date: 30 January 1995

Paul A. Samuelson

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

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Documents related to John Maynard Keynes, institutionalism at Chicago & Frank H. Knight
Type: Book
ISBN: 978-1-78350-061-1

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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…

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…

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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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Book part
Publication date: 30 January 1995

Don Patinkin

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

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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…

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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

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Book part
Publication date: 8 April 2015

Robert W. Dimand

Although the global economic crisis that began in 2007 has renewed interest in Keynes among the wider educated public, graduate courses in macroeconomics usually teach…

Abstract

Although the global economic crisis that began in 2007 has renewed interest in Keynes among the wider educated public, graduate courses in macroeconomics usually teach little about Keynes and the issues he analyzed, and what little they teach is often wrong (e.g., that Keynes assumed an arbitrarily fixed money wage rate or that he ignored expectations). Consequently, as macroeconomists turn their attention to the possibility, causes and consequences of financial crises and global depression, they do not have access to the insights into these questions produced by earlier generations of economists. The time and attention constraints of theory courses do not allow simply directing the students to the extensive scholarly literature on the economics of Keynes, so this paper offers a suggested introduction to the economics of Keynes for a graduate course in macroeconomics.

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