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Paradigms Lost

Ian Kumekawa

in The First Serious Optimist: A. C. Pigou and the Birth of Welfare Economics

Published in print:
2017
Published Online:
May 2018
ISBN:
9780691163482
eISBN:
9781400885206
Item type:
chapter
Publisher:
Princeton University Press
DOI:
10.23943/princeton/9780691163482.003.0007
Subject:
Economics and Finance, Economic History

This chapter traces the gradual decline of Pigou's optimism regarding welfare economics, founded as it was on the desire to make things better and built on an optimism that it could actually bring ... More


How Friedman became the Anti-Keynes

Craig Freedman, Geoffrey C. Harcourt, Peter Kriesler, and J. W. Nevile

in Milton Friedman: Contributions to Economics and Public Policy

Published in print:
2016
Published Online:
August 2016
ISBN:
9780198704324
eISBN:
9780191773761
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780198704324.003.0033
Subject:
Economics and Finance, Economic History, Macro- and Monetary Economics

This chapter considers John Maynard Keynes’s major contributions to economics before The General Theory of Employment, Interest and Money, namely A Tract on Monetary Reform and A Treatise on Money, ... More


The Coming of J. M. Keynes

John Kenneth Galbraith and James K. Galbraith

in Money: Whence It Came, Where It Went

Published in print:
2017
Published Online:
May 2018
ISBN:
9780691171661
eISBN:
9781400889082
Item type:
chapter
Publisher:
Princeton University Press
DOI:
10.23943/princeton/9780691171661.003.0016
Subject:
Economics and Finance, Macro- and Monetary Economics

This chapter examines John Maynard Keynes's views with respect to money. It first considers Keynes's argument that, left to itself and given time, the economic system would find its equilibrium with ... More


The Roots of the Crisis

Sanjay G. Reddy

in The Intellectual Origins of the Global Financial Crisis

Published in print:
2012
Published Online:
January 2013
ISBN:
9780823249602
eISBN:
9780823250752
Item type:
chapter
Publisher:
Fordham University Press
DOI:
10.5422/fordham/9780823249602.003.0011
Subject:
Philosophy, Political Philosophy

The crisis has its origins in part in the ‘high theory’ provided by mainstream economists, who have helped to create the perception that a deregulated financial market could be an instrument of ... More


Efficiency as the Implicit Morality of the Market

Joseph Heath

in Morality, Competition, and the Firm: The Market Failures Approach to Business Ethics

Published in print:
2014
Published Online:
May 2015
ISBN:
9780199990481
eISBN:
9780190267704
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:osobl/9780199990481.003.0008
Subject:
Philosophy, Moral Philosophy

This chapter discusses the counterintuitive aspect of business ethics as people find it dissipated as to be bereft of normative authority. It first borrows the idea of first, second, and third best ... More


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