Format:
1 online resource (440 pages)
Edition:
1st ed.
ISBN:
9781107012424
,
9781139375726
Content:
The Clash of Economic Ideas covers disputes over the free market, socialism, fascism, the Great Depression, the New Deal, war, nationalization and more. It puts the debates in historical context and discusses how economic ideas have influenced swings in economic policy
Note:
Cover -- THE CLASH OF ECONOMIC IDEAS -- Title -- Copyright -- Contents -- Figures -- Acknowledgments -- Introduction -- AN OVERVIEW OF THE COMING CHAPTERS -- DO ECONOMIC IDEAS HAVE CONSEQUENCES? -- THE STRUCTURE OF INTELLECTUAL PRODUCTION -- GOVERNMENTS VERSUS MARKETS -- SOCIALISM VERSUS CAPITALISM -- 1: The Turn Away from Laissez-Faire -- JOHN MAYNARD KEYNES -- FRIEDRICH A. HAYEK -- KEYNES ON THE END OF LAISSEZ-FAIRE -- KEYNES VERSUS HAYEK ON THE ROLE OF GOVERNMENT -- POLITICAL ECONOMY IN AMERICA'S PROGRESSIVE ERA -- KEYNES WAS NOT THE FIRST TO TURN AWAY FROM LAISSEZ-FAIRE IDEAS -- ALFRED MARSHALL AND IRVING FISHER ON LAISSEZ-FAIRE -- THE GLOBAL ECONOMY BEFORE 1914 -- THE FEDERAL RESERVE ACT AND THE FIRST WORLD WAR -- THE RUSSIAN REVOLUTIONS OF 1917 -- KARL MARX -- 2: The Bolshevik Revolution and the Socialist Calculation Debate -- THE BOLSHEVIKS MAKE ECONOMIC POLICY -- VIENNA 1920 -- LUDWIG VON MISES -- MISES'S CRITIQUE OF THE SOCIALIST ECONOMY -- SOVIET SHORTAGES -- THE NEED FOR INPUT PRICES -- "CRUSOE" PRODUCTION VERSUS SPECIALIZED PRODUCTION AND TRADE -- WHICH PRODUCTION PROJECTS ARE WORTH IT? -- THE PROFIT TEST MAKES "INTELLECTUAL DIVISION OF LABOR" POSSIBLE -- WHY NOT VALUATION BY LABOR INPUT? -- THE LABOR THEORY OF VALUE AND ITS PROBLEMS -- THE PROBLEM OF INCENTIVE UNDER SOCIALISM -- OSKAR LANGE'S RESPONSE TO MISES'S CHALLENGE -- OSKAR LANGE -- LANGE'S ANSWER TO MISES -- HOW DOES THE SOCIALIST PLANNING MINISTRY GAIN THE KNOWLEDGE IT NEEDS? -- DETERMINING PRICES FOR INPUTS WITHOUT MARKETS -- WHY PREFER SOCIALISM, IF IT MERELY REPLICATES COMPETITIVE MARKETS? -- MISES'S RESPONSE TO LANGE -- HAYEK'S INITIAL CRITIQUE OF MARKET SOCIALISM AND LANGE'S LETTER IN REPLY -- KEY INFORMATION IS DISPERSED -- WHO PLANS FOR WHOM? -- MARKETS COORDINATE DECENTRALIZED PLANS THROUGH PRICE SIGNALS
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ARE MOST BUDGET DEFICITS PLEASANT EVENTS?
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MILTON FRIEDMAN -- FRIEDMAN AND SCHWARTZ ON THE GREAT DEPRESSION -- WAS FRIEDMAN INCONSISTENT OR DISHONEST ABOUT THE GREAT DEPRESSION? -- FRIEDMAN'S CRITIQUE OF KEYNESIAN ECONOMICS -- THE QUANTITY THEORY OF MONEY -- IRVING FISHER -- HOW FAR BACK DOES THE QUANTITY THEORY GO? -- THE QUANTITY THEORY IN MARSHALL -- MONETARISM -- KEYNESIANS VERSUS MONETARISTS ON INFLATION, INTEREST RATES, AND BUSINESS CYCLES -- RULES FOR MONETARY POLICY -- AUSTRIANS VERSUS MONETARISTS ON BUSINESS CYCLE THEORY -- FRIEDMAN THE MARSHALLIAN VERSUS LUCAS THE WALRASIAN -- THE LEGACY OF MONETARISM -- 13: The Growth of Government: Public Goods and Public Choice -- THE POSTWAR GROWTH OF GOVERNMENT -- WHAT ARE THE DESIRABLE ROLES OF GOVERNMENT IN THE ECONOMY? -- VILFREDO PARETO -- THE THEORY OF PUBLIC GOODS -- FREE-RIDING, PRICING, AND MARKET FAILURE -- PUBLIC GOODS AND EXTERNAL BENEFITS -- ARTHUR C. PIGOU -- OTHER POOR EXAMPLES -- RONALD COASE -- COASE'S ANALYSIS OF SOCIAL COST -- INCOME TRANSFERS AS A PUBLIC GOOD -- PUBLIC CHOICE AND THE PROBLEM OF RENT-SEEKING -- CONSTITUTIONALISM -- 14: Free Trade, Protectionism, and Trade Deficits -- SHRINKING TARIFFS, GROWING TRADE -- FREE TRADE AND ITS CRITICS -- ADAM SMITH'S CRITIQUE OF MERCANTILISM -- COMPARATIVE ADVANTAGE AND THE CORN LAW -- POPULAR AGITATION AGAINST THE CORN LAW, DERIVED FROM SMITHIAN POLITICAL ECONOMY -- THE INFANT INDUSTRY ARGUMENT FOR PROTECTION, AND ADAM SMITH'S REBUTTAL -- ALEXANDER HAMILTON'S CASE AGAINST FREE TRADE -- FRIEDRICH LIST'S CASE FOR PROTECTING INFANT INDUSTRIES -- HENRY SIDGWICK'S THEORETICAL ARGUMENT AND RECENT LITERATURE -- PROTECTIONISM IN PURSUIT OF FREE TRADE? -- DO TRADE DEFICITS POINT TO A FLAW IN FREE TRADE? -- 15: From Pleasant Deficit Spending to Unpleasant Sovereign Debt Crisis -- SOVEREIGN DEBT CRISES HIT GREECE AND IRELAND -- THE KEYNESIAN CHALLENGE TO ORTHODOX FISCAL THEORY
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SAY'S LAW OF MARKETS -- AN IMPORTANT CAVEAT -- KEYNES'S CRITIQUE OF SAY -- WHAT THE GENERAL THEORY OFFERED -- DEPRESSION THEORY VERSUS BUSINESS CYCLE THEORY -- WHY KEYNES'S THEORY CAUGHT ON -- KEYNESIAN ECONOMICS AFTER KEYNES: THE IS-LM MODEL -- INFLATION AND THE PHILLIPS CURVE -- "POST KEYNESIAN" AND "NEW KEYNESIAN" ECONOMICS -- 6: The Second World War and Hayek's Road to Serfdom -- THE NAZIS COME TO POWER -- THE INTERVENTIONIST DYNAMIC IN NAZI ECONOMIC POLICY -- WERNER SOMBART AND THE GERMAN HISTORICAL SCHOOLS -- PLANNING DOCTRINES IN BRITAIN AND AMERICA -- THE POLITICAL IMPLICATIONS OF CENTRAL PLANNING -- BEYOND THE SOCIALIST CALCULATION DEBATE -- "WHY THE WORST GET ON TOP" -- THE TRAGEDY OF CENTRAL PLANNING: UNINTENDED POLITICAL RESULTS -- THE ALTERNATIVE PATH -- THE BOOK'S RECEPTION -- POLITICAL BLOWBACK IN UNITED KINGDOM -- 7: Postwar British Socialism and the Fabian Society -- THE GENERAL ELECTION OF 1945 -- LABOUR IN POWER -- THE FABIAN SOCIALIST ROOTS OF LABOUR POLICY -- SIDNEY AND BEATRICE WEBB -- GEORGE BERNARD SHAW -- HAROLD J. LASKI -- WILLIAM BEVERIDGE -- THE FABIAN VIEW OF ECONOMIC HISTORY -- FABIAN ECONOMICS AND RICARDIAN RENT THEORY -- HENRY GEORGE -- FROM GEORGISM TO THE NATIONALIZATION OF LAND AND CAPITAL -- JEREMY BENTHAM -- UTILITARIANISM AND ECONOMIC POLICY -- JOHN STUART MILL -- J. S. MILL BETWEEN BENTHAM AND THE FABIANS -- 8: The Mont Pelerin Society and the Rebirth of Smithian Economics -- THE POSTWAR CLIMATE OF OPINION -- HAYEK FOUNDS THE MONT PELERIN SOCIETY -- THE RATIONALE FOR AN INTERNATIONAL SOCIETY OF CLASSICAL LIBERALS -- THE CLASSICAL LIBERAL TRADITION -- THE SPIRIT OF ADAM SMITH -- ADAM SMITH -- ADAM SMITH AS INTELLECTUAL TOUCHSTONE AND ICON -- THE FIRST MESSAGE OF THE WEALTH OF NATIONS -- HOW THE DIVISION OF LABOR PROMOTES PROSPERITY -- THE "INVISIBLE HAND" OF THE MARKET -- THE ROLES OF GOVERNMENT
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SMITH ON MONEY AND BANKING -- NOT A SHILL FOR BUSINESS INTERESTS -- INFLUENCES ON SMITH: FRANCIS HUTCHESON AND BERNARD MANDEVILLE -- DAVID HUME AND ADAM FERGUSON -- THE PHYSIOCRATS -- THE PROBLEM OF SOCIAL COORDINATION -- CARL MENGER -- MENGER'S THEORY OF PRICE FORMATION -- THE EMERGENCE OF MONEY -- POLICY IMPLICATIONS OF SPONTANEOUS ORDER THEORY -- 9: The Postwar German "Wonder Economy" and Ordoliberalism -- OCCUPIED GERMANY, 1945-8 -- ERHARD'S SHOCK THERAPY -- LUDWIG ERHARD -- ORDOLIBERALISM -- THE SEARCH FOR AN APPROPRIATE CONSTITUTIONAL FRAMEWORK -- WALTER EUCKEN -- WILHELM RÖPKE -- COMPETITION POLICY -- RENT-SEEKING -- ORDOLIBERALISM TODAY -- 10: Indian Planning and Development Economics -- WHICH DIRECTION FOR AN INDEPENDENT INDIA? -- NEHRU'S OWN SOCIALISM -- NEHRU'S ECONOMIC ADVISERS -- PROPLANNING WESTERN ADVICE -- GALBRAITH'S SUPPORT FOR INDIA'S PLANNING -- THE MAHALANOBIS PLAN -- INPUT-OUTPUT ANALYSIS -- THE PERMIT RAJ -- SLOW GROWTH -- B. R. SHENOY -- MILTON FRIEDMAN'S DISSENT -- LIBERALIZATION -- INDIA'S ONGOING DEBATE -- DEVELOPMENT ECONOMICS -- PETER BAUER -- THE CURRENT DEBATE OVER DEVELOPMENT -- WHY DO SOME COUNTRIES REMAIN RICHER THAN OTHERS? -- 11: Bretton Woods and International Monetary Thought -- THE CONFERENCE AT BRETTON WOODS -- HOW AN INTERNATIONAL GOLD OR SILVER STANDARD WORKED -- THE GLOBAL QUANTITY AND VALUE OF MONEY UNDER A GOLD OR SILVER STANDARD -- HOW LARGE A PROBLEM WAS INFLATION FROM GOLD DISCOVERIES? -- BIMETALLISM -- BIMETALLISM AND INFLATIONISM -- MARSHALL'S AND FISHER'S PROPOSALS FOR MODIFYING THE GOLD STANDARD -- EXCHANGE RATES UNDER THE CLASSICAL GOLD STANDARD -- DURING AND AFTER THE FIRST WORLD WAR -- GOLDEN FETTERS? -- THE BREAKDOWN OF BRETTON WOODS AND THE CLOSING OF THE GOLD WINDOW -- THE GLOBAL MONETARY REGIME SINCE 1971 -- 12: The Great Inflation and Monetarism -- POSTWAR AMERICAN MONETARY POLICY
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THE CORRECT PRICES FOR INPUTS DO NOT FOLLOW FROM OUTPUT PRICES ALONE -- LANGE AS A CENTRAL PLANNER IN PRACTICE -- THE VARIED INFLUENCE OF HAYEK'S ARGUMENT -- DID THE COLLAPSE OF THE SOVIET ECONOMY SHOW THAT MISES WAS RIGHT? -- CHANGING VIEWS OF THE SOCIALIST CALCULATION DEBATE -- WITH ITS THEORY IN TATTERS, WHERE DOES SOCIALISM GO? -- 3: The Roaring Twenties and Austrian Business Cycle Theory -- THE ROARING TWENTIES -- PRE-KEYNESIAN MACROECONOMICS -- THE MISES-HAYEK THEORY OF THE BOOM-BUST CYCLE -- HAYEK VERSUS KEYNES'S TREATISE -- THE HAYEKIAN TRIANGLE -- WHY BUST FOLLOWS BOOM -- HAYEK'S POLICY PRESCRIPTION -- IN A GROWING ECONOMY, PRICES SHOULD FALL -- EUGEN VON BÖHM-BAWERK'S THEORY OF INTEREST -- MISES, WICKSELL, AND THE BRITISH "CURRENCY SCHOOL" -- THE CURRENCY, FREE BANKING, AND BANKING SCHOOL -- CRITICISMS OF HAYEK'S THEORY -- DID HAYEK AND ROBBINS DEEPEN THE GREAT DEPRESSION? -- THE REAL BILLS DOCTRINE VERSUS THE AUSTRIAN CYCLE THEORY -- 4: The New Deal and Institutionalist Economics -- FRANKLIN ROOSEVELT AND THE COMMAND-ECONOMY MODEL -- FRANKLIN DELANO ROOSEVELT (FDR) AND THE NRA -- THE THEORY BEHIND THE NRA -- UNDERCONSUMPTION AND J. A. HOBSON -- ECONOMIC AND LEGAL PROBLEMS WITH THE NRA AND AAA -- INSTITUTIONALIST ECONOMICS -- TUGWELL'S BACKGROUND -- SIMON PATTEN -- THORSTEIN VEBLEN -- AMERICAN INSTITUTIONALISM AND GERMAN HISTORICISM -- INSTITUTIONALISM AND SOCIALISM -- TAYLORISM -- THE PRINCIPLE OF PLANNING -- THE INSTITUTIONALIST LEGACY -- 5: The Great Depression and Keynes's General Theory -- THE DEPTHS OF THE DEPRESSION -- KEYNES'S DIAGNOSIS -- DID KEYNES "INVENT MACROECONOMICS"? -- WHAT WAS NEW IN KEYNES -- THE PARADOX OF THRIFT -- THE LIQUIDITY-PREFERENCE THEORY OF INTEREST -- HAYEK VERSUS KEYNES'S GENERAL THEORY -- KEYNES VERSUS "CLASSICAL" ECONOMICS -- MALTHUS AND SISMONDI VERSUS RICARDO AND SAY ON UNDERCONSUMPTION
Additional Edition:
Print version White, Lawrence H. The Clash of Economic Ideas New York : Cambridge University Press,c2012 ISBN 9781107012424
Language:
English
Keywords:
Electronic books
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