Overview
- Investigates the origins of the IS-LM model
- Discusses the implications of newly discovered archival material on and from John Maynard Keynes
- Provides a better understanding of the evolution of Keynes’s approach from 1933 to 1937
Part of the book series: Springer Studies in the History of Economic Thought (SSHET)
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Table of contents (7 chapters)
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Front Matter
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Back Matter
Keywords
About this book
This book examines the origins of the IS-LM model, one of the most significant innovations in the history of economic thought. It shows that the complete IS-LM model, including the equations and diagram, was produced by a group of economists who contributed their respective mathematical models of Keynes’s General Theory, including Champernowne, Reddaway, Harrod, and Meade, not to mention Hicks. Furthermore, the book discusses the implications of newly discovered archival material, including a previously overlooked document showing that John Maynard Keynes himself was the first to present the IS-LM model equations in a lecture he gave on December 4, 1933. It focuses on the implications of this material in terms of understanding the evolution of Keynes’s approach from 1933 to 1937, later interpreters of his General Theory, and the ongoing debate between Keynesians and Post-Keynesians on the nature of his system. Given the revelations it presents, this book will transform the profession’s understanding of the origins of the IS-LM model and modern macroeconomics.
Authors and Affiliations
About the authors
Warren Young is a Professor Emeritus, Economics, Bar Ilan University, Israel. He is the author and editor of 14 books and over 70 academic papers. He is the author of "Interpreting Mr Keynes: the IS-LM Enigma" (Polity and Westview, 1987). He was a visiting scholar at Carnegie-Mellon University and former adviser, Archives Project, Federal Reserve Bank of Minneapolis.
Edward W. Fuller is an independent researcher in economics. He is editor of "A Source Book on Early Monetary Thought", "Mises A to Z", and "Rothbard A to Z". He has published articles in a wide variety of journals, including Cambridge Journal of Economics, Quarterly Journal of Austrian Economics, and Review of Austrian Economics.
Bibliographic Information
Book Title: Reinterpreting Mr. Keynes
Book Subtitle: The IS-LM Enigma Revisited
Authors: Warren Young, Edward W. Fuller
Series Title: Springer Studies in the History of Economic Thought
DOI: https://doi.org/10.1007/978-3-030-91342-7
Publisher: Springer Cham
eBook Packages: Economics and Finance, Economics and Finance (R0)
Copyright Information: The Editor(s) (if applicable) and The Author(s), under exclusive license to Springer Nature Switzerland AG 2022
Hardcover ISBN: 978-3-030-91341-0Published: 20 January 2022
Softcover ISBN: 978-3-030-91344-1Published: 21 January 2023
eBook ISBN: 978-3-030-91342-7Published: 19 January 2022
Series ISSN: 2662-6098
Series E-ISSN: 2662-6101
Edition Number: 1
Number of Pages: X, 161
Number of Illustrations: 16 b/w illustrations, 4 illustrations in colour
Topics: History of Economic Thought/Methodology, Macroeconomics/Monetary Economics//Financial Economics, Economic History