Markets, Money and Capital: Hicksian Economics for the Twenty First Centuryby Roberto Scazzieri
"Sir John Hicks (1904-1989) was a leading economic theorist of the twentieth century, and along with Kenneth Arrow was awarded the Nobel Prize in 1972. His work addressed central topics in economic theory, such as value, money, capital and growth. An important unifying theme was the attention to economic rationality "in time" and his acknowledgment that apparent… See more details below
"Sir John Hicks (1904-1989) was a leading economic theorist of the twentieth century, and along with Kenneth Arrow was awarded the Nobel Prize in 1972. His work addressed central topics in economic theory, such as value, money, capital and growth. An important unifying theme was the attention to economic rationality "in time" and his acknowledgment that apparent rigidities and frictions might exert a positive role as a buffer against excessive fluctuations in output, prices and employment. This emphasis on the virtue of imperfection significantly distances Hicksian economics from both the Keynesian and monetarist approaches." Containing contributions from distinguished theorists in their own right (including three Nobel Prize winners), this volume examines Hicks's intellectual heritage and discusses how his ideas suggest a distinct approach to economic theory and policy making. It will be of great interest to scholars and students of economic theory and the history of economic thought.
- Cambridge University Press
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Table of ContentsBetween theory and history: on the identity of Hicks's economics Roberto Scazzieri and Stefano Zamagni; Part I. The Intellectual Heritage of John Hicks: 1. Hicks on liberty Amartya Sen; 2. An economist even greater than his high reputation Paul A. Samuelson; 3. Hicks's 'conversion' - from J. R. to John Luigi L. Pasinetti and Ganpaolo Mariutti; 4. Dear John, dear Ursula (Cambridge and LSE, 1935): 88 letters unearthed Maria Cristina Marcuzzo and Eleonora Sanfilippo; 5. John Hicks and his publishers Andrew Schuller; 6. Hicks in reviews, 1932–89: from 'The Theory of Wages' to 'A Market Theory of Money' Warren Young; Part II. Markets: 7. John Hicks and the emptiness of general equilibrium theory Christopher J. Bliss; 8. Hicks vs. Marx? On the theory of economic history Pierluigi Ciocca; 9. Hicks's notion and use of fix-price and flex-price Marcello De Cecco; 10. On the Hicksian definition of income in applied economic analysis Paolo Onofri and Anna Stagni; Part III. Money: 11. Historical stylizations and monetary theory Alberto Quadrio Curzio and Roberto Scazzieri; 12. Hicks: money, prices and credit management Omar Hamouda; 13. Core, mantle and industry: a monetary perspective of Banks' capital standards Rainer Masera; 14. A suggestion for simplifying the theory of asset prices Carlo D'Adda and Riccardo Cesari; Part IV. Capital and dynamics: 15. 'Distribution and economic progress' after 70 years Robert M. Solow; 16. Flexible saving and economic growth Mauro Baranzini; 17. The economics of nonlinear cycles Piero Ferri; 18. Perspective on a Hicksian non-linear theory of the trade cycle Kumaraswamy Vela Velupillai; 19. Capital, growth and production disequilibria: on the employment consequences of new technologies Harald Hagemann; 20. Capital and time Erich Streissler; 21. Sequential analysis and out-of-equilibrium paths Mario Amendola and Jean-Luc Gaffard.
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