| Description |
pages cm |
| Contents |
1. Adam Smith's economic case against usury -- 2. The vindication of finance -- 3. Thorstein Veblen and those 'captains of finance' -- 4. Rosa Luxemburg and the Marxist subordination of finance -- 5. Ralph Hawtrey and the monetary business cycle -- 6. Irving Fisher and debt deflation -- 7. John Maynard Keynes's financial theory of under-investment I : towards doubt -- 8. John Maynard Keynes's financial theory of under-investment II : towards uncertainty -- 9. The principle of increasing risk I : Marek Breit -- 10. The principle of increasing risk II : Michal Kalecki -- 11. The principle of increasing risk III : Michal Kalecki and Josef Steindl on profits and finance -- 12. A brief digression on later developments in economics and finance -- 13. The east coast historians : John Kenneth Galbraith, Charles P. Kindleberger and Robert Shiller -- 14. Hyman P. Minsky's financial instability hypothesis -- 15. Conclusion : the disturbance of economists by finance |
| Summary |
"This book is more than just a study in the history of economic thought - it illustrates how economic debate focuses upon financial disturbance at times of financial instability, and then conveniently discards critical views when such instability recedes. Jan Toporowski looks at the development of critical theories from the views of Adam Smith and Francois Quesnay, and their reflection in recent new Keynesian ideas of Joseph Stiglitz and Ben Bernanke, through credit cycles in Alfred Marshall and Ralph Hawtrey, to the financial theories of Thorstein Veblen and Irving Fisher." "Jan Toporowski's work will find its audience in academics of finance and financial economics, bankers, financiers and policy makers concerned with financial stability as well as anyone looking for arguments on the imperfect functioning of finance."--BOOK JACKET |
| Bibliography |
Includes bibliographical references and index |
| Subject |
Finance.
|
|
Finance -- History.
|
| LC no. |
2004056383 |
| ISBN |
1843764776 |
|
1843764776 (hbk.) |
|
