Abstract
‘In the early 1910s and again in the 1920s I did do a bit of scrambling towards the frontier (of economic thought), firmly roped to the man of genius who has perished there. Sometimes I venture to think, I was even a little bit in front of him; but in the end he went on beyond me, and it is my belief — an unpopular one, I know, but I cannot help it — that he got a bit off the track and set the flag in places where it is not destined to rest’.1
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Background to the Robertson-Keynes Debate
See R. Harrod, Life of Keynes, (Macmillan, 1951) later published as a Pelican Biography, (Penguin books, 1972).
Keynes, Economic Consequences of the Peace, (London: Macmillan, 1920).
See JMK, Economic Consequences of Mr. Churchill, (London: Woolf, 1925).
H. Johnson, ‘Keynes and British Economics’, in M. Keynes (ed), Essays on John Maynard Keynes, (Cambridge Univ. Press, 1975) p. 115.
JMK, Tract on Monetary Reform, (London: Macmillan, 1923).
JMK, Treatise on Money, (London: Macmillan, 1930).
F. A. von Hayek, Prices and Production, (London: George Routledge & Son Ltd., 1931; 2nd & enl. ed. 1935).
See DHR, ‘Industrial Fluctuation and the Natural Rate of Interest’, EJ, (Dec. 1934) pp. 650–66. It was the cause of the change in productivity which was responsible for the crisis.
See especially: DHR, ‘Mr. Keynes’ Theory of Money’, EJ, (Sept. 1931) pp. 399–411, and ‘Saving and Hoarding’, EJ, (Sept., 1933) pp. 399–413.
R. G. Hawtrey, ‘Mr. Robertson and “Saving and Hoarding”’, EJ, (Dec. 1933); see also the reply to DHR, pp. 709–12.
F. A. Von Hayek, ‘Review of JMK’s “Treatise on Money”’, Economica, (August 1931) pp. 270–95.
See D. Moggridge, Keynes, (Macmillan, 1976) pp. 100–106.
A. Marshall, Principles of Economics, (London: Macmillan, 1890).
A. C. Pigou, Industrial Fluctuations, (London: Macmillan, 1927).
The full quote should read: ‘I regard Mr. Hawtrey as my grandparent and Mr. Robertson as my parent in the paths of errancy’. See JMK, CW, Vol. XIV, p. 202 and also JMK, ‘Alternative Theories of the Rate of Interest’, EJ, (June 1937) p. 242n.
A. Marshall, Money, Credit and Commerce, (London: Macmillan, 1923).
A. C. Pigou, Economics of Welfare, (London: Macmillan, 1919).
Compare BPPL with A. C. Pigou’s Industrial Fluctuation, (1927) (for example on the question of forced levies).
M. Labordère, ‘Autour de la crise américaine de 1907’ reproduced as an appendix to DHR, SIF, (1948 reprint).
J. R. Hicks, ‘The Monetary Theory of D. H. Robertson’, Economica, New Series 9–10, (February 1942) p. 54.
T. Wilson, ‘Robertson on Effective Demand and the Trade Cycle’ EJ, (Sept. 1953) p. 555.
D. E. Moggridge, Keynes, (Macmillan, 1976) pp. 96–7.
See for example, DHR, ‘Industrial Fluctuation and the Natural Rate of Interest’, EJ, (December 1934) pp. 650–56.
A. Hansen, Monetary Theory and Fiscal Policy, (New York: McGraw-Hill, 1949) p. 81n. And T. Wilson, op cit., p. 555.
A. C. Pigou, Lapses from Full-Employment, (London: Macmillan, 1945).
E. A. G. Robinson, ‘A Personal View’, in M. Keynes (ed.), Essays on John Maynard Keynes, (Cambridge Univ. Press, 1975) p. 13.
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© 1978 John R. Presley
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Presley, J.R. (1978). Background to the Robertson-Keynes Debate. In: Robertsonian Economics. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-03239-6_8
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