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Harcourt, Hicks and Lowe: Incompatible Bedfellows?

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Post-Keynesian Essays from Down Under Volume IV: Essays on Theory

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Abstract

In a very interesting and important paper titled ‘Marshall, Sraffa and Keynes; incompatible bedfellows?’ Harcourt explores the nature of centres of gravitation as explanations of long-period equilibrium. In that paper, he provides an excellent taxonomy for the possible meaning of these positions, as well as outlining some of the problems associated with them.

‘Well, in our country,’ said Alice, still panting a little, ‘you’d generally get to somewhere else—if you ran very fast for a long time, as we’ve been doing.’

‘A slow sort of country!’ said the Queen. ‘Now, here, you see, it takes all the running you can do to keep in the same place. If you want to get somewhere else, you must run at least twice as fast as that.’

‘I’d rather not try, please!’ said Alice. ‘I’m quite content to stay here.’

(The Red Queen’s explanation to Alice of the principles of the traverse, in Lewis Carroll, Through the Looking Glass [1872])

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Authors
  1. Peter Kriesler
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© 2016 Joseph Halevi, G. C. Harcourt, Peter Kriesler and J. W. Nevile

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Kriesler, P. (2016). Harcourt, Hicks and Lowe: Incompatible Bedfellows?. In: Post-Keynesian Essays from Down Under Volume IV: Essays on Theory. Palgrave Macmillan, London. https://doi.org/10.1057/978-1-137-47529-9_19

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  • DOI: https://doi.org/10.1057/978-1-137-47529-9_19

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  • Publisher Name: Palgrave Macmillan, London

  • Print ISBN: 978-1-137-47528-2

  • Online ISBN: 978-1-137-47529-9

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