Hicks Critical Essays In Monetary Theory

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Afterward, when a flaw was discovered in the exposition, Hicks published Capital and Time: A Neo-Austrian Theory (1973), which incorporated time into the analysis.

His Theory of Economic History (1969) gave the market a special role in the development of economic history.

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As you will see from the Table of Contents (information below), I think we have been fairly generous in how much of the mainstream material, which we see as having no analytical veracity or policy relevance, we have included.

This Chapter is about IS-LM analysis, a framework we also reject outright.John Richard Hicks, one of the leading economic theorists of the twentieth century, was born in Leamington Spa, England, and graduated from Oxford University.He taught at the London School of Economics, Manchester, and Oxford.His Contribution to the Theory of the Trade Cycle (1950), a multiplier-accelerator model of business cycles, also enjoyed modest success.When Capital and Growth was published in 1965, Hicks tried to provide a theory of growth that featured a microeconomic foundation of macroeconomics.This rather short work was highly regarded by Hicks, and he is said to have wished that his Nobel Prize had been awarded for this book rather than for his earlier efforts.However, Economic History received very little attention from economists and somewhat critical reviews from economic historians.Hicks's first book, The Theory of Wages (1932), was an institutional history of labor economics in Britain that analyzed wages under conditions of supply and demand in a competitive market.His second book, Value and Capital: An Inquiry into Some Fundamental Principles of Economic Theory (1939), was a monumental effort that firmly established his reputation among economists.Note also that the text I post is just the work I am doing by way of the first draft so the material posted will not represent the complete text.Further it will change once the two of us have edited it.


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