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Full Description
This volume collects original contributions and recent research in economic theory and the political economy of unemployment and inflation from a team of internationally renowned scholars. These essays, collected in honour of John Cornwall, demonstrate the importance of economic institutions for economic outcomes and share his focus on the need for high level economic theory to be socially relevant. The book includes an intellectual biography of the honouree by Geoff Harcourt and Mehdi Monadjemi and a full bibliography of his work.
Contents
Frontispiece List of Tables List of Illustrations List of Contributors Introduction; M.Setterfield The Vital Contributions of John Cornwall to Economic Theory and Policy: A Tribute From Two Admiring Friends on the Occasion of His 70th Birthday; G.Harcourt and M. Monadjemi PART I: REFLECTIONS ON THE METHODOLOGY AND PRACTICE OF ECONOMICS Soros on 'Free Market' Equilibria; R.Cross and D.Strachan Economics and Complexity; B.Moore Modelling a Path Dependent Economy: Lessons From John Cornwall's Macrodynamics; M.Setterfield Post Keynesianism and Institutionalism: Another Look at the Link; G.Hodgson Are Economists Social Scientists?; V.Bergstr�m Deregulation: the Anatomy of a Catchword; K.Rothschild PART II: ECONOMIC GROWTH IN THEORY AND PRACTICE 'Modern Capitalism' in the 1970s and 1980s; J.Fagerberg and B.Verspagen A Problem with the Empirical Neoclassical Analysis of Multisector Growth; J.McCombie Integration and Convergence in the European Union; P.Petit Kaldor's Laws, Cumulative Causation and Regional Development; P.Skott Social Capital and the Economy; S.H.Heap PART III: THE POLITICAL ECONOMY OF UNEMPLOYMENT AND INFLATION The Rise of Unemployment and Working Poverty: An Evolutionary Macroeconomics Perspective; J.Foster A Post Walrasian Explanation of Wage and Price Inflexibility and a Keynesian Unemployment Equilibrium System; D.Colander Unemployment and Post Keynesian Monetary Theory; S.Pressman Wage Determination, Capital Shortage and Unemployment: A Comparison Between Germany and the UK; P.Arestis and I.Biefang-Frisancho Mariscal The Institutional Determinants of Unemployment; W.Cornwall Works by John Cornwall Index
