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Business Cycle Theory

Lutz G. Arnold

Published in print:
2002
Published Online:
October 2011
ISBN:
9780199256815
eISBN:
9780191698385
Item type:
book
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199256815.001.0001
Subject:
Economics and Finance, Financial Economics

Business cycle theory is a broad and disparate field. Different schools of thought offer alternative explanations for cycles, often using different mathematical methods. This book aims to provide ... More


New Social Risks and Welfare States: New Paradigm and New Politics?

Peter Taylor-Gooby

in New Risks, New Welfare: The Transformation of the European Welfare State

Published in print:
2004
Published Online:
January 2005
ISBN:
9780199267262
eISBN:
9780191602023
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/019926726X.003.0009
Subject:
Political Science, Political Economy

This chapter reviews work on new social risks. It concludes that welfare state regime and policy‐making structure makes an important difference to the emergence and development of new social risk ... More


Restructuring the British Welfare State: Between Domestic Constraints and Global Imperatives

Martin Rhodes

in Welfare and Work in the Open Economy Volume II: Diverse Responses to Common Challenges in Twelve Countries

Published in print:
2000
Published Online:
November 2003
ISBN:
9780199240920
eISBN:
9780191600180
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0199240922.003.0002
Subject:
Political Science, Comparative Politics

In the UK, as in Australia and New Zealand, the ‘liberal’ post‐war welfare state was conceived as a minimal safety net under conditions in which full employment was to be ensured by (‘Keynesian’) ... More


Finding the Chicago School

Jamie Peck

in Constructions of Neoliberal Reason

Published in print:
2010
Published Online:
January 2011
ISBN:
9780199580576
eISBN:
9780191595240
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199580576.003.0003
Subject:
Business and Management, Political Economy

This chapter presents a critical analysis of the rise and reconstruction of the Chicago School of Economics. The Chicago School is widely credited, by friends and foes alike, as a cradle of the ... More


Government, Money, and Taxation

Raymond Plant

in The Neo-liberal State

Published in print:
2009
Published Online:
February 2010
ISBN:
9780199281756
eISBN:
9780191713040
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199281756.003.0010
Subject:
Political Science, Comparative Politics, Political Theory

A central theme of this chapter is the role of monetary theory within the neo‐liberal account of the role of the state. For a neo‐liberal thinker such as Mises, monetary theory consists of a set of a ... More


Some Unpleasant Monetarist Arithmetic

Neil Wallace

in Rational Expectations and Inflation

Published in print:
2013
Published Online:
October 2017
ISBN:
9780691158709
eISBN:
9781400847648
Item type:
chapter
Publisher:
Princeton University Press
DOI:
10.23943/princeton/9780691158709.003.0005
Subject:
Economics and Finance, Economic History

This chapter is a variation on the theme that monetary and fiscal policies are interrelated and must necessarily be coordinated. The issue of coordination arises when one wants to know whether it is ... More


Bimetallism in Theory

Marc Flandreau

in The Glitter of Gold: France Bimetallism and the Emergence of the International Gold Standard 1848-1873

Published in print:
2004
Published Online:
August 2004
ISBN:
9780199257867
eISBN:
9780191601279
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0199257868.003.0002
Subject:
Economics and Finance, Economic History

Chapter 1 describes the international monetary landscape between 1848 and 1873. The prominent role of bullion is emphasized. It also reviews existing theories of the operation of a bimetallic system. ... More


Keynesianism and the Emergence of Monetarism, 1945–1971

Daniel Stedman Jones

in Masters of the Universe: Hayek, Friedman, and the Birth of Neoliberal Politics

Published in print:
2014
Published Online:
October 2017
ISBN:
9780691161013
eISBN:
9781400851836
Item type:
chapter
Publisher:
Princeton University Press
DOI:
10.23943/princeton/9780691161013.003.0006
Subject:
History, American History: 20th Century

This chapter examines how the neoliberal breakthrough came in the seemingly unlikely realm of technical economic policy. The long postwar boom, often dubbed the Golden Age of capitalism, continued ... More


The Anatomy of Economic Policy Making in the 1970s: ‘The Railway Timetables’

Douglas Wass

in Decline to Fall: The Making of British Macro-economic Policy and the 1976 IMF Crisis

Published in print:
2008
Published Online:
May 2008
ISBN:
9780199534746
eISBN:
9780191715884
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199534746.003.0001
Subject:
Economics and Finance, Economic History

This chapter goes through the process by which macro-economic policy in the UK was made in the post-War years, and in particular, in the 1970s. It looks at the methodology of aggregate demand ... More


The Monetarist Tradition

Edmund S. Phelps

in Seven Schools of Macroeconomic Thought

Published in print:
1990
Published Online:
November 2003
ISBN:
9780198283331
eISBN:
9780191596766
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0198283334.003.0002
Subject:
Economics and Finance, Macro- and Monetary Economics

This chapter gives a review of the development and theory of monetarist macroeconomics, a school that started in the 1930s. It mainly discusses the views of Milton Friedman––long regarded as the ... More


Metamorphosis: John Law the Economist

Antoin E. Murphy

in John Law: Economic Theorist and Policy-maker

Published in print:
1997
Published Online:
November 2003
ISBN:
9780198286493
eISBN:
9780191596674
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/019828649X.003.0006
Subject:
Economics and Finance, History of Economic Thought

Discusses Law's first writing on economic issues, the Essay on a Land Bank. His introduction of the paradox of value and the concept of demand. His use of supply and demand analysis. His introduction ... More


Introduction

Lutz G. Arnold

in Business Cycle Theory

Published in print:
2002
Published Online:
October 2011
ISBN:
9780199256815
eISBN:
9780191698385
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199256815.003.0001
Subject:
Economics and Finance, Financial Economics

This chapter begins by discussing that business cycles came to be regarded as such in the nineteenth century. It then enumerates five schools of thought which provide alternative explanations for ... More


Monetarism

Lutz G. Arnold

in Business Cycle Theory

Published in print:
2002
Published Online:
October 2011
ISBN:
9780199256815
eISBN:
9780191698385
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199256815.003.0003
Subject:
Economics and Finance, Financial Economics

This chapter discusses that Monetarism emerged as a separate school of thought in business cycle theory from Friedman's work on monetary economics in the 1950s and 1960s. The major accomplishment of ... More


We shall not be moved: "How Liverpool's working class fought redundancies, closures and cuts in the age of Thatcher"

Brian Marren

Published in print:
2016
Published Online:
September 2016
ISBN:
9780719095764
eISBN:
9781526109668
Item type:
book
Publisher:
Manchester University Press
DOI:
10.7228/manchester/9780719095764.001.0001
Subject:
Political Science, Political Economy

The last quarter of the twentieth-century brought forth enormous change to the lives of working-class Britons. This transformation came mainly in the form of widespread industrial closure and the ... More


Commentary: The long run economic consequences of Mrs Thatcher

Peter M. Jackson

in The Legacy of Thatcherism: Assessing and Exploring Thatcherite Social and Economic Policies

Published in print:
2014
Published Online:
January 2015
ISBN:
9780197265703
eISBN:
9780191771880
Item type:
chapter
Publisher:
British Academy
DOI:
10.5871/bacad/9780197265703.003.0003
Subject:
Political Science, UK Politics

Thatcher’s economic legacy is represented by a distinctive rupture with the past in terms of the framework within which economic policy is designed. Thatcherism was a counter-revolution to the ... More


Confrontation and Consensus: 1974–1979

Tim Bale

in The Conservatives since 1945: The Drivers of Party Change

Published in print:
2012
Published Online:
January 2013
ISBN:
9780199234370
eISBN:
9780191746093
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199234370.003.0006
Subject:
Political Science, UK Politics

After a second election fought by flirting with a government of national unity, the leadership passed to an ideologue. There was no change in Tory candidates, but there was more change at the top ... More


Macroeconomics and the Phillips Curve Myth

James Forder

Published in print:
2014
Published Online:
November 2014
ISBN:
9780199683659
eISBN:
9780191763281
Item type:
book
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199683659.001.0001
Subject:
Economics and Finance, Macro- and Monetary Economics

The story of the history of the Phillips curve up to the 1980s is reconsidered. It is argued that none of the principal components of conventional stories is correct. Phillips did not discover the ... More


What would Milton Friedman have Thought of Market Monetarism?

Scott B. Sumner

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/9780198704324.003.0015
Subject:
Economics and Finance, Economic History, Macro- and Monetary Economics

This chapter discusses how Friedman would have evaluated market monetarism if he had not died in 2006. Because market monetarism arose in response to perceived failures in the standard view of the ... More


The Economic Accommodation, I

John Kenneth Galbraith

in The Culture of Contentment

Published in print:
2017
Published Online:
May 2018
ISBN:
9780691171654
eISBN:
9781400889020
Item type:
chapter
Publisher:
Princeton University Press
DOI:
10.23943/princeton/9780691171654.003.0007
Subject:
Economics and Finance, Behavioural Economics

This chapter examines the ability of economics to accommodate its view of economic process, instruction and recommended public action to contentment. It begins with a discussion of the broad ... More


The Separate Personality of Money

John Kenneth Galbraith

in Economics in Perspective: A Critical History

Published in print:
2017
Published Online:
May 2018
ISBN:
9780691171647
eISBN:
9781400889075
Item type:
chapter
Publisher:
Princeton University Press
DOI:
10.23943/princeton/9780691171647.003.0012
Subject:
Economics and Finance, Economic History

This chapter examines the role of money and its management, the origins of what is known today as monetarism. It first provides a brief history of money, focusing on the steps that accorded money its ... More


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