Harry Johnson, Keynes, and Keynesian Economics

  • D. E. Moggridge


David Laidler arrived in Chicago from the University of Syracuse in 1960. At Chicago he learned his monetary economics from Harry Johnson’s 1960–61 lecture course and, after a year teaching at the LSE, in the 1962–63 Money Workshop at Chicago (both of which Harry had taken over because Milton Friedman was on leave). David was involved with Harry in the founding of the British Money Study Group in 1969 and found Harry’s advice invaluable when moving to Manchester in 1969 and Western Ontario in 1975 (Laidler, 2000). He also surveyed Harry’s contributions to macroeconomics in 1984 and had Harry playing an important role in the development of the Phillips curve as a policy menu in a 1997 paper. In these circumstances, it seems more than appropriate to honour David with a paper on Harry Johnson.


Monetary Policy Full Employment Phillips Curve Monetary Economic Loanable Fund 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.


Unable to display preview. Download preview PDF.

Unable to display preview. Download preview PDF.


  1. Alexander, Sidney S. (1952). “Effects of a Devaluation on a Trade Balance.” IMF Staff Papers 2 (April 1952), 263–278.CrossRefGoogle Scholar
  2. Beveridge, Sir William (1944). Full Employment in a Free Society: A Report. London: Allen and Unwin.Google Scholar
  3. Bladen, Vincent (1941). An Introduction to Political Economy. Toronto: University of Toronto Press.Google Scholar
  4. Brown, A. J. (1955). The Great Inflation, 1939–1951. London: Oxford University Press.Google Scholar
  5. Dimand, Robert (2001). “Harry Johnson as Chronicler of the Keynesian Revolution: His Search for a Non-Revolutionary Account.” American Journal of Economics and Sociology 60 (July), 667–691.CrossRefGoogle Scholar
  6. Friedman, Milton (1946). “Lange on Price Flexibility and Employment.” American Economic Review 36 (September), 613–631.Google Scholar
  7. Friedman, Milton (1968). “The Role of Monetary Policy.” American Economic Review 58 (March), 1–17.Google Scholar
  8. Friedman, Milton (1970). The Counter-Revolution in Monetary Theory. London: Institute of Economic Affairs, Occasional Paper 33.Google Scholar
  9. Friedman, Milton, ed. (1956). Studies in the Quantity Theory of Money. Chicago: University of Chicago Press.Google Scholar
  10. Friedman, Milton and Anna J. Schwartz (1963). A Monetary History of the United States, 1867–1960. Princeton: Princeton University Press.Google Scholar
  11. Haberler, Gottfried (1939). Prosperity and Depression, 2nd ed. Geneva: League of Nations.Google Scholar
  12. Hansen, Alvin H. (1941). Fiscal Policy and Business Cycles. New York: McGraw Hill.Google Scholar
  13. Hicks, J. R. (1945). “Recent Contributions to General Equilibrium Economics.” Economica 17 (November), 235–242.CrossRefGoogle Scholar
  14. Johnson, Elizabeth S. and Harry G. Johnson (1978). The Shadow of Keynes: Understanding Keynes, Cambridge and Keynesian Economics. Chicago: University of Chicago Press.Google Scholar
  15. Johnson, Harry G. (1944). The Antigonish Movement: A Lecture to the Students of Acadia University. Antigonish Nova Scotia, St. Francis Xavier University.Google Scholar
  16. Johnson, Harry G. (1948). “An Error in Ricardo’s Exposition of His Theory of Rent.” Quarterly Journal of Economics 62 (November), 792–793.CrossRefGoogle Scholar
  17. Johnson, Harry G. (1949). “Demand for Commodities is not Demand for Labour.” Economic Journal 59 (December), 531–536.CrossRefGoogle Scholar
  18. Johnson, Harry G. (1951a). “Some Implications of Secular Changes in Bank Assets and Liabilities in Great Britain.” Economic Journal 61 (September), 544–561.CrossRefGoogle Scholar
  19. Johnson, Harry G. (1951b). “Clearing Bank Holdings of Public Debt, 1931–1950.” London and Cambridge Economic Service Bulletin 29 (November), 102–109.Google Scholar
  20. Johnson, Harry G. (1951c). “The Taxonomic Approach to Economic Policy.” Economic Journal 61 (December), 812–832.CrossRefGoogle Scholar
  21. Johnson, Harry G. (1951-52). “Some Cambridge Controversies in Monetary Theory.” Review of Economic Studies 19 (February), 90–104.CrossRefGoogle Scholar
  22. Johnson, Harry G. (1952a), The Overloaded Economy. Toronto: University of Toronto Press.Google Scholar
  23. Johnson, Harry G. (1952b). “Lord Keynes and Modern Economic Thought.” Canadian Forum 32 (November), 176–177.Google Scholar
  24. Johnson, Harry G. (1955). “Keynes and Supply Functions: A Mathematical Appendix (to an article by D.H. Robertson).” Economic Journal 65 (September), 457–458.CrossRefGoogle Scholar
  25. Johnson, Harry G. (1956a). “On British Crises.” Granta 59 (April), 5–6.Google Scholar
  26. Johnson, Harry G. (1956b). “Some Reflections on the Revival of Monetary Policy in GreatGoogle Scholar
  27. Britain.” Three Banks Review (June), 3–20.Google Scholar
  28. Johnson, Harry G. (1957). “The Determinants of the General Level of Wage Rates.” In John T. Dunlop, ed., The Theory of Wage Determination. London: Macmillan.Google Scholar
  29. Johnson, Harry G. (1958). “Two Schools of Thought on Wage Inflation.” Scottish Journal of Political Economy 5 (June), 149–153.CrossRefGoogle Scholar
  30. Johnson, Harry G. (1959). “British Monetary Statistics.” Economica 26 (February), 1–17.CrossRefGoogle Scholar
  31. Johnson, Harry G. (1962). Money, Trade and Economic Growth. London: George Allen and Unwin.Google Scholar
  32. Johnson, Harry G. (1965), “A Quantity Theorist’s Monetary History of the United States.“ Economic Journal 75 (June), 388–396.CrossRefGoogle Scholar
  33. Johnson, Harry G. (1967). Essays in Monetary Economics, 2nd ed., 1969. London: George Allen and Unwin.Google Scholar
  34. Johnson, Harry G. (1970). “Keynes and the Keynesians: Some Intellectual Legends.“ Encounter 34 (January), 70–73 (reprinted in 1972a).Google Scholar
  35. Johnson, Harry G. (1971). Macroeconomics and Monetary Theory. London: Gray-Mills.Google Scholar
  36. Johnson, Harry G. (1972a). Further Essays in Monetary Economics. London: George Allen and Unwin.Google Scholar
  37. Johnson, Harry G. (1972b). Inflation and the Monetarist Controversy. Amsterdam: North Holland.Google Scholar
  38. Johnson, Harry G. (1973). “Is Keynes Dead?” Morris Wigram Limited, Newsletter (August), 5–7.Google Scholar
  39. Johnson, Harry G. (1975) “Comments on Inflation Theory.” In R. A. Mundell and B. E. van Snellenberg, eds., Policy Formation in an Open Economy, I. Waterloo: University of Waterloo Press.Google Scholar
  40. Johnson, Harry G. and A. R. Nobay (1977). “Monetarism: A Historic-Theoretic Perspective.“ Journal of Economic Literature 15 (June), 470–485.Google Scholar
  41. Johnson, Harry G. (1978a). Selected Essays in Monetary Economics. London: Allen and Unwin.Google Scholar
  42. Johnson, Harry G., with Elizabeth Johnson (1978b). The Shadow of Keynes: Understanding Keynes. Cambridge and Keynesian Economics.Google Scholar
  43. Keynes, John Maynard (1930). “The Question of High Wages.” Political Quarterly 1 (January), 110–124.CrossRefGoogle Scholar
  44. Keynes, John Maynard (1936). The General Theory of Employment, Interest and Money. London: Macmillan.Google Scholar
  45. Keynes, Milo, ed. (1975). Essays on John Maynard Keynes. Cambridge: Cambridge University Press.Google Scholar
  46. Laidler, David (1984). “Harry Johnson as a Macroeconomist.” Journal of Political Economy 92 (August), 592–615.CrossRefGoogle Scholar
  47. Laidler, David (1990). Taking Money Seriously. London: Philip Allen.Google Scholar
  48. Laidler, David (1997). “The Emergence of the Phillips Curve as a Policy Menu.” In B. C. Eaton and R. G. Harris, eds., Trade, Technology and Economics: Essays in Honour of Richard G. Lipsey. Cheltenham: Edward Elgar.Google Scholar
  49. Laidler, David (2000). “David Laidler.” In R. Backhouse and R. Middleton, eds., Exemplary Economists I: North America. Cheltenham: Edward Elgar.Google Scholar
  50. Lange, Oscar (1938). “The Rate of Interest and the Optimum Propensity to Consume.“ Economica 5 (February), 12–22.CrossRefGoogle Scholar
  51. Lange, Oscar (1944). Price Flexibility and Employment. Bloomington IN: Principia Press.Google Scholar
  52. Leeson, Robert (2000). “Patinkin, Johnson and the Shadow of Friedman.” History of Political Economy 32 (Winter), 733–764.CrossRefGoogle Scholar
  53. Leeson, Robert, ed. (2003). Keynes, Chicago and Friedman. London: Pickering and Chatto.Google Scholar
  54. Leijonhufvud, Axel (1968). On Keynesian Economics and the Economics of Keynes: A Study in Monetary Theory. London: Oxford University Press.Google Scholar
  55. Leijonhufvud, Axel (1969). Keynes and the Classics: Two Lectures. London: Institute of Economic Affairs, Occasional Paper 30.Google Scholar
  56. Machlup, F. (1943). International Trade and the National Income Multiplier. Philadelphia: Blakiston.Google Scholar
  57. Metzler, Lloyd (1949). “Tariffs, the Terms of Trade and the Distribution of Income.” Journal of Political Economy 57 (February), 1–29.CrossRefGoogle Scholar
  58. Mills, Judy and Irene Dombra (1968). University of Toronto Doctoral Theses, 1897–1967. Toronto: University of Toronto Press.Google Scholar
  59. Modigliani, Franco (1944). “Liquidity Preference and the Theory of Interest and Money.” Econometrica 12 (January), 45–88.CrossRefGoogle Scholar
  60. Phelps, E. S. (1967). “Phillips Curves, Expectations of Inflation and Optimal Unemployment Over Time.” Economica 34 (August), 254–281.CrossRefGoogle Scholar
  61. Reuber, G. L. (1964). “The Objectives of Canadian Monetary Policy, 1949–1961: Empirical Trade-offs and the Reaction Function of the Authorities.” Journal of Political Economy 72 (May), 109–132.CrossRefGoogle Scholar
  62. Robertson, D. H. (1928). Money. London: Nisbet.Google Scholar
  63. Robertson, D. H. (1940). Essays in Monetary Theory. London: P.S. King.Google Scholar
  64. Robertson, D. H. (1950). “A Revolutionist’s Handbook.” Quarterly Journal of Economics 64 (February), 1–14.CrossRefGoogle Scholar
  65. Robertson, D. H. (1959). Lectures on Economic Principles, III. London: Staples.Google Scholar
  66. Robinson, Joan (1962). “Review of Money, Trade and Economic Growth.” Economic Journal 72 (September), 690–692.CrossRefGoogle Scholar
  67. Robinson, Joan (1965). Collected Economic Papers, III. Oxford: Blackwell.Google Scholar
  68. Silberston, Z. A. (1978). Harry Johnson as a Young Man. London: Imperial College.Google Scholar
  69. Timlin, Mabel (1941). Keynesian Economics. Toronto: University of Toronto Press.Google Scholar
  70. Timlin, Mabel (1946). “Review of Oscar Lange’s Price Flexibility and Full Employment.” Canadian Journal of Economics and Political Science 12 (May 1946), 204–213.CrossRefGoogle Scholar

Copyright information

© D. E. Moggridge 2010

Authors and Affiliations

  • D. E. Moggridge

There are no affiliations available

Personalised recommendations