Skip to main content

Keynes and the Cambridge School (2003)

  • Chapter
On Skidelsky’s Keynes and Other Essays
  • 127 Accesses

Abstract

We start with Maynard Keynes’s central ideas.† We then discuss the strands that emerged in the work of others, some contemporaries, some followers, some agreeing and extending, others disagreeing and/ or returning to ideas Keynes sloughed off or played down. The General Theory is the natural starting point. We trace developments from and reactions to it, especially by people who were associated, at least for part of their working lives, with Cambridge, England. In the concluding paragraphs, we briefly discuss the contributions of those not geographically located in Cambridge who nevertheless worked within the tradition of Keynes and the Cambridge School.

Originally published as chapter 22 of Warren J. Samuels, Jeff E. Biddle and John B. Davis (eds), A Companion to the History of Economic Thought, Malden, USA, Oxford, UK: Blackwell Publishing, 2003, pp. 343–59.

This is a preview of subscription content, log in via an institution to check access.

Access this chapter

eBook
USD 16.99
Price excludes VAT (USA)
  • Available as EPUB and PDF
  • Read on any device
  • Instant download
  • Own it forever
Softcover Book
USD 16.99
Price excludes VAT (USA)
  • Compact, lightweight edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info
Hardcover Book
USD 54.99
Price excludes VAT (USA)
  • Durable hardcover edition
  • Dispatched in 3 to 5 business days
  • Free shipping worldwide - see info

Tax calculation will be finalised at checkout

Purchases are for personal use only

Institutional subscriptions

Preview

Unable to display preview. Download preview PDF.

Unable to display preview. Download preview PDF.

References

  • Ambrosi, G. M. (2003), Keynes, Pigou and Cambridge Keynesians: Authenticity and Analytical Perspective in the Keynes-Classics Debate, Houndmills, Basingstoke, Palgrave Macmillan.

    Google Scholar 

  • Bhaduri, Amit and Joan Robinson (1980), ‘Accumulation and Exploitation: An Analysis in the Tradition of Marx, Sraffa and Kalecki’, Cambridge Journal of Economics, 4, 103–15.

    Google Scholar 

  • Bortis, Heinrich (1997), Institutions, Behaviour and Economic theory. A Contribution to Classical-Keynesian Political Economy, Cambridge, Cambridge University Press.

    Google Scholar 

  • Davis, John B. (1994a), Keynes’s Philosophical Development, Cambridge, Cambridge University Press.

    Book  Google Scholar 

  • Davis, John B. (ed.) (1994b), The State of Interpretation of Keynes, Boston, Kluwer.

    Google Scholar 

  • Eatwell, John and Murray Milgate (eds) (1983), Keynes’s Economics and the Theory of Value and Distribution, London, Duckworth.

    Google Scholar 

  • Fletcher, Gordon (2000), Understanding Dennis Robertson: The Man and His Work, Cheltenham, U.K., Northampton, M.A., USA, Edward Elgar.

    Google Scholar 

  • Goodwin, R. M. and L. F. Punzo (1987), The Dynamics of a Capitalist Economy: A Multi-sectoral Approach, Cambridge, Polity Press.

    Google Scholar 

  • Hahn, F. H. (1972), The Share of Wages in the National Income, London, Weidenfeld and Nicolson.

    Google Scholar 

  • Hahn, F. H. and R. C. O. Matthews (1964), ‘The Theory of Economic Growth: a Survey’, Economic Journal, 74, 779–902.

    Article  Google Scholar 

  • Hahn, F. H. and R. M. Solow (1996), A Critical Essay on Modern Macroeconomic Theory, Oxford, Blackwell.

    Google Scholar 

  • Harcourt, G. C. (1972), Some Cambridge Controversies in The Theory of Capital, Cambridge, Cambridge University Press.

    Book  Google Scholar 

  • Harcourt, G. C. and M. Monadjemi (1999), ‘The Vital Contributions of John Cornwall to Economic Theory and Policy: A Tribute from Two Admiring Friends on the Occasion of His 70th Birthday’, in M. Setterfield (ed.), Growth, Employment and Inflation. Essays in Honour of John Cornwall, Houndmills, Basingstoke, Hants., Palgrave Macmillan, 10–23.

    Chapter  Google Scholar 

  • Harrod, R. F. (1939), ‘An Essay in Dynamic Theory’, Economic Journal, 49, 14–33.

    Article  Google Scholar 

  • Harrod, R. F. (1948), Towards a Dynamic Economics, London, Macmillan.

    Google Scholar 

  • Hicks, J. R. (1937), ‘Mr. Keynes and the “Classics” ‘, Econometrica, 5, 147–59.

    Article  Google Scholar 

  • Hicks, J. R. (1939), Value and Capital, Oxford, Clarendon Press.

    Google Scholar 

  • Kaldor, N. (1955–56), ‘Alternative Theories of Distribution’, Review of Economic Studies, 23, 83–100.

    Article  Google Scholar 

  • Kalecki, M. (1943), ‘Political Aspects of Full Employment’, Political Quarterly, reprinted in Kalecki (1971), 138–45.

    Google Scholar 

  • Kalecki, M. (1968), ‘Trend and Business Cycles Reconsidered’, Economic Journal, 78, 263–76, reprinted in Kalecki (1971), 165–83.

    Article  Google Scholar 

  • Kalecki, M. (1971), Selected Essays on the Dynamics of the Capitalist Economy 1933– 1970, Cambridge, Cambridge University Press.

    Google Scholar 

  • Keynes, J. M. (1937a), ‘Alternative Theories of the Rate of Interest’, Economic Journal, 47, reprinted in C.W., vol XIV, 1973, 201–15.

    Google Scholar 

  • Keynes, J. M. (1937b), ‘The “Ex Ante” Theory of the Rate of Interest’, Economic Journal, 47, reprinted in C.W., vol. XIV, 1973, 215–23.

    Google Scholar 

  • Keynes, J. M. (1940), How to Pay for the War, London, Macmillan, reprinted in C.W., vol. IX, 1972, 367–439.

    Google Scholar 

  • Keynes, J. M. (1973), The General Theory and After: Part II Defence and Development, C.W., vol. XIV, edited by Donald Moggridge, London and Basingstoke, Palgrave Macmillan.

    Google Scholar 

  • Kurz, Heinz D. and Neri Salvadori (1995), Theory of Production: A Long-Period Analysis, Cambridge, Cambridge University Press.

    Book  Google Scholar 

  • Mandler, M. (1999), Dilemmas in Economic Theory, Oxford, Oxford University Press.

    Google Scholar 

  • Marris, R. L. (1964), The Economic Theory of ‘Managerial’ Capitalism, London, Macmillan.

    Google Scholar 

  • Meade, J. E. (1966), ‘The Outcome of the Pasinetti Process: a Note’, Economic Journal, 76, 161–65.

    Article  Google Scholar 

  • Milgate, M. (1982), Capital and Employment: A Study in Keynes’s Economics, London, Academic Press.

    Google Scholar 

  • Moggridge, D. E. (1976), John Maynard Keynes, Harmondsworth, Middlesex, England, Penguin Books Ltd.

    Google Scholar 

  • McCombie, J. S. L. and A. P. Thirlwall (1994), Economic Growth and the Balance-of- Payments Constraint, Houndmills, Basingstoke, Hants., Palgrave Macmillan.

    Book  Google Scholar 

  • Pasinetti, L. L. (1962), ‘Rate of Profit and Income Distribution in Relation to the Rate of Economic Growth’, Review of Economic Studies, 29, 267–79.

    Article  Google Scholar 

  • Pasinetti, L. L. (1981), Structural Change and Economic Growth, Cambridge, University Press.

    Google Scholar 

  • Pasinetti, L. L. (1993), Structural Economic Dynamics, Cambridge, Cambridge University Press.

    Book  Google Scholar 

  • Pasinetti, L. L. (1997), ‘The Principle of Effective Demand’, in G. C. Harcourt and P. A. Riach (eds), A ‘Second Edition’ of The General Theory, Volume I, London, Routledge, 93–104.

    Google Scholar 

  • Robinson, E. A. G. (1947), ‘John Maynard Keynes 1883–1946’, Economic Journal, 57, 1–68.

    Article  Google Scholar 

  • Robinson, Joan (1953–54), ‘The Production Function and the Theory of Capital’, Review of Economic Studies, 21, 81–106.

    Article  Google Scholar 

  • Robinson, Joan (1980; 1985), ‘The Theory of Normal Prices and Reconstruction of Economic Theory’, in G. R. Feiwel (ed.), Issues in Contemporary Macroeconomics and Distribution, London, Macmillan, 157–65.

    Google Scholar 

  • Rowthorn, R.E. (1977), ‘Conflict, Inflation and Money’, Cambridge Journal of Economics, 1, 215–39.

    Google Scholar 

  • Salter, W. E. G. (1960), Productivity and Technical Change, Cambridge, Cambridge University Press.

    Google Scholar 

  • Sinha, Ajit (2010), Theories of Value from Adam Smith to Piero Sraffa, New Delhi and Abington, Routledge.

    Google Scholar 

  • Sraffa, Piero (1951), ‘Introduction’ to The Works and Correspondence of David Ricardo, Volume I, On the Principles of Political Economy and Taxation, ed. Piero Sraffa with the collaboration of M. H. Dobb, Cambridge, Cambridge University Press, xiii–lxii.

    Google Scholar 

  • Sraffa, Piero (1960), Production of Commodities by Means of Commodities. Prelude to a Critique of Economic Theory, Cambridge, Cambridge University Press.

    Google Scholar 

  • Wood, A. (1975), A Theory of Profits, Cambridge, Cambridge University Press.

    Google Scholar 

  • Young, Warren (1987), Interpreting Mr. Keynes, Cambridge, Polity Press.

    Google Scholar 

Download references

Author information

Authors and Affiliations

Authors

Copyright information

© 2012 G. C. Harcourt

About this chapter

Cite this chapter

Kerr, P., Harcourt, G.C. (2012). Keynes and the Cambridge School (2003). In: On Skidelsky’s Keynes and Other Essays. Palgrave Macmillan, London. https://doi.org/10.1057/9780230348646_12

Download citation

Publish with us

Policies and ethics