The Cambridge School of Keynesian Economics

There have been strong ties between the Cambridge Journal ofEconomics (CJE) and the Cambridge School of Keynesian Economics,from the very beginning. In this paper, the author investigatesthe environment that saw the birth of the CJE at Cambridge (UK),in 1977, and the relationship that linked it to the direct pupilsof Keynes. A critical question is explicitly examined: why didn'tthe ‘Keynesian revolution’ succeed in becoming apermanent winning paradigm? Some behavioural mistakes of themembers of the Keynesian School may explain this lack of success,but only to a certain extent. In any case, there were and therestill are remedies too. But what we are inheriting is a uniqueset of analytical building blocks (the paper lists eight ofthem) that makes this School of economics a viable (and in somedirections definitely superior) alternative to mainstream economics.Admittedly, there is some important work still to be done. Thepaper highlights the need for a two-stage approach, addressingpure theory and extensive institutional analysis. It is arguedthat a combination of the two would strengthen the coherenceof the theoretical foundations, and at the same time would providea fruitful extension of economic analysis to empirical, institutionaland economic dynamics investigations.     

李文的悲剧

AOI和时代华纳创造了世界上最大的传媒企业。市值跌去70％之后,他们又创造了另一世界之最,即剥离资产540亿。接踵而至的却是一场旷日持久的法人争夺战。     

The Cambridge Tradition in Economics: An interview with G. C. Harcourt

Geoffrey Colin Harcourt has devoted a long and fruitful career to the development of themes associated with the Cambridge and Post-Keynesian traditions in economics. He is perhaps best known for his survey of the Cambridge capital theory debates (1972); but he has written widely on growth and investment, on effective demand, on pricing and distribution, and on the history of economics in the twentieth century. He has also written extensively on policy (2001a) and was a 'back room boy' for the Australian Labor Party for many years. During the Vietnam War, Harcourt was a leader of the anti-war movement in South Australia. The following interview focuses on the evolution of, and prospects for, the Cambridge tradition that stems from the work of John Maynard Keynes, Piero Sraffa, Joan Robinson, Richard Kahn, Nicholas Kaldor and Michal Kalecki. The interview took place in Professor Harcourt's rooms in Jesus College, Cambridge, on 5 September 2000.     

The Cambridge challenge to the Ricardian analysis of poverty

The Ricardian economists’ famous model of economic growth employed the Malthusian population doctrine, the law of diminishing returns, and the classical or iron law of wages. This analysis was based on utilitarian moral philosophy. The gloomy Stationary State conclusions of the Ricardian growth model — maldistribution of income and widespread poverty — were challenged by both economists and moral philosophers. A particularly important challenge was that offered by William Whewell (1794–1866), Professor of Moral Philosophy and the dominant figure at the University of Cambridge. Whewell is remembered today for his early contributions to mathematical economics. This article begins with a review of the Ricardian growth model. Next, Whewell’s system of moral philosophy is examined and the scientific and religious basis of Whewell’s antagonism to Ricardian economics is considered. After considering Whewell’s treatment of agricultural progress, economic classes, and rent doctrine, his own model of economic growth is analyzed. Finally, Whewell’s appraisal of the duty of government to those harmed by development is explored.     

The Cambridge challenge to the Ricardian analysis of poverty

The Ricardian economists’ famous model of economic growth employed the Malthusian population doctrine, the law of diminishing returns, and the classical or iron law of wages. This analysis was based on utilitarian moral philosophy. The gloomy Stationary State conclusions of the Ricardian growth model — maldistribution of income and widespread poverty — were challenged by both economists and moral philosophers. A particularly important challenge was that offered by William Whewell (1794–1866), Professor of Moral Philosophy and the dominant figure at the University of Cambridge. Whewell is remembered today for his early contributions to mathematical economics. This article begins with a review of the Ricardian growth model. Next, Whewell’s system of moral philosophy is examined and the scientific and religious basis of Whewell’s antagonism to Ricardian economics is considered. After considering Whewell’s treatment of agricultural progress, economic classes, and rent doctrine, his own model of economic growth is analyzed. Finally, Whewell’s appraisal of the duty of government to those harmed by development is explored.     

Boosting tourism's contribution to growth and development: Analysis of the evidence

The tourism sector's contribution to economic development depends upon complex and dynamic socioeconomic, environmental, and institutional factors. Policymakers require objective evidence to base decisions on which public policies or investments to pursue. In this paper we develop an economy‐wide approach to assessing public investments in tourism. The approach is powerful in that it considers all inter‐sectoral linkages that are critical for tourism‐sector analysis. This framework is linked to a microsimulation module that enables estimation of household‐level and destination‐specific impacts and the distribution of benefits. To illustrate the framework and the insights it can generate, we apply it to a public investment in Belize's Cayo District. Our findings show that the overall level of economic activity increases while an appreciation of the real regional exchange rate results in slower growth in traditional nontourism exports. Greater availability of capital and labor to meet increased demand would reduce this effect. The investment results in a reduction in the poverty headcount on the order of 0.7 percentage points, though there is a small increase in inequality that is a function of the skill requirements of the new positions created as a result of the investment.     

The Relationships of Religion to Economics

The relationships between religion and economics are both complex and controversial. In this paper is explored one method for organizing those relationships. Four categories are examined which help identify possible options: economics separate from religion economics; in service of religion; religion in service of economics; and religion in union with economics. The paper begins with a definition of what is included under the headings of religion and economics. Next, each of the four categories is described and discussed. Conclusions close the paper.     

心理学对经济学的现实贡献

本文从心理学与传统经济学的关系分析入手,以卡尼曼的"前景理论"和萨勒的"心理账户"理论为实例,系统地介绍了心理学对经济学的新贡献.     

Interaction between knowledge and technology: a contribution to the theory of development

Abstract.  This article attempts to explain the large and persistent disparities in levels of output per worker across countries. It is argued that an explanation for these disparities requires an understanding of the relationship between knowledge and technology. The model that is constructed can be summarized as an open-economy version of the Solow-Swan growth model, in which technological change is investment specific, and knowledge about new technologies is embodied in labour. In the model, income differences arise because poor countries lack the knowledge to implement foreign technologies productively. Furthermore, these disparities persist when countries differ in their ability to learn. JEL classification: F43, O11     

人本主义对传统经济学的挑战

传统西方经济学的主流思想主要定位于经济福利,但往往是通过诸如物质产出的总量及成本收益等指标来衡量经济福利,而按新经济的福利经济学观点,仅有经济福利,而缺乏社会福利,总的福利水平仍然可能不高。新经济是人本主义的经济,是更人性的经济。因此,以人本主义思想重新界定经济的内涵,并以人的精神财富为根本目标,以探索社会总财富的增加为核心内容,从而形成更具创新意义的人本经济学思想。     

经济学的困境与行为经济学的解构

行为经济学在当代的发展已经突破了正统经济学的基本框架,开始对情感、策略互动行为、社会效用、决策者在未知世界中的选择行为进行系统研究,并在最近几年综合形成了多种由理性系统和非理性系统组成的双系统模型.这些双系统模型与2 000多年前的柏拉图马车模型同构.经济学研究对柏拉图的回归,表明经济学仍然处于单极化本质主义的结构化陷阱之中.研究分析表明,经济学发展目前面临的困境,正是经济学转向关系论,走上希望之路的起点.     

新自由主义思潮的经济哲学批判

新自由主义经济学重要代表人物哈耶克与弗里德曼等人都以其经济学认识论与方法论而著称。在哈耶克的自发秩序原理和弗里德曼的货币主义理论中,个体人的自由行动构成为最基本的概念范畴,进而在自由竞争的市场体制下促成了资本主义的繁荣发展。随着二十世纪七十年代新自由主义的兴起及其全球化资本主义的盛行,其反思与批判成为了现代政治经济学的核心议题,并对马克思主义的时代发展具有重要比较意义。     

西方产业经济学的发展轨迹与我国产业经济学体系的构建

西方的产业经济学与我国有较大差异。本文论述了西方产业经济学的发展轨迹、主要学术流派及其观点。借鉴西方产业经济学的发展成果并结合我国的国情,文章对如何构建我国的产业经济学体系提出建议。     

The Economics of Transition and the Transition of Economics*

The economics of transition is the study of the economic transformation from one economic system–central planning–to another, a market system. This paper discusses a number of issues in reform strategy and experiences with reform of Eastern Europe. It is argued that the economics of transition has a wider significance that transcends specific issues of reform strategy and individual country experience. That significance lies in two areas; as a ‘living test’ of the neoclassical model which underpins the reform strategy and as an ultimate challenge to the economics discipline.     

跨国公司总部经济对区域经济的影响分析

跨国公司总部经济是经济全球化和区域经济一体化发展到一定阶段的产物,其效应不仅促进了跨国公司的加速发展,更促进了所在区域的发展。跨国公司总部经济在中国大中城市的迅速发展,推动了区域经济的良性发展,促进产业集群的形成,并加快区域经济融入国际化的进程。     

An appreciation of Professor Stephan Klasen and his contribution to development economics

Stephan Klasen, one of the world's leading development economists, passed away on October 27, 2020. We reflect on his life's work as an exemplary scholar, his relentless quest to improve development policy, and his legacy as a mentor and source of inspiration to his students.     

公民社会呼吁法经济学的大发展

公民社会的基本原则是自由、平等和公正,这些原则既是由法律规定和保障的,又要受到法律的约束与限制。在公民社会经济领域的自由、平等和公正的法律权利与现实生活还有很大距离,有些时候仅靠法律是难以实现公民社会的这些基本目标的,因而,需要探讨法律目标与经济关系的最佳结合点,呼唤法经济学的大发展。     

行为经济学对风险投资的启示

行为经济学已成为当代西方经济学研究的热点,并于20世纪80年代兴起于金融学中,目前这一学说正是西方国家金融研究和实践的前沿领域,同时也是热门领域。在此,本文通过借鉴行为经济学中的相关理论,在对风险投资进行分析的基础上,从投资者的心理、行为特征以及认知偏差的角度出发,着重对行为经济学在风险投资决策过程中的运用进行了详细而深入的探讨。