Books in the Modern Cambridge Economics Series series

This work is concerned with the use of fiscal and monetary policies to overcome three major obstacles to development commonly faced by less developed countries: inadequate investment; misallocation of investment resources; and inflation and balance of payments deficits.

Joan Robinson shows how the economic mechanisms that produce wealth in the midst of growing misery can be understood. Her simple but penetrating analysis illuminates the problems of poverty, accumulation, industrialisation and trade, while exposing misleading conceptions of the Third World.

This book presents a study in the foundations of monetary theory with several unique features. The author also demonstrates the existence of a long-run unemployment equilibrium without the assumptions of rigid wages.

The division of the world into rich and poor nations, and the division within poor nations between the very rich and the poor majority, has long been obvious to careful observers. This book gives an overview of the problems of underdevelopment confronting third-world countries, making use of Marxist and neo-Keynesian methods of analysis.

This book sets out the foundations of post-Keynesian price theory. Blending theory and analysis it is the first comprehensive assessment of post-Keynesian price theory and its foundations. Scholars and students will particularly welcome the emphasis on the non-neoclassical and non-equilibrium nature of post-Keynesian price theory.

Capitalism in the twentieth century was marked by periods of persistent bad performance alternating with episodes of good performance. A lot of economic research ignores this phenomenon; other work concentrates almost exclusively on developing technology as its cause. This 2001 book draws upon Schumpeterian, Institutional and Keynesian economics to investigate how far these swings in performance can be explained as integral to capitalist development. The authors consider the macroeconomic record of the developed capitalist economies over the past 100 years (including rates of growth, inflation and unemployment) as well as the interaction of economic variables with the changing structural features of the economy in the course of industrialization and transformation. This approach allows for changes both in the economic structure and in the economic variables to be generated within the system. This study will be essential reading for macroeconomists and economic historians.

This book puts some of the current theoretical controversies into long term perspective by tracing their historical antecedents as well as interpreting some of the doctrinal divisions in the modern debate by showing that they spring from disagreements about what economics is and what questions the economist should be attempting to answer.

Attempts to make Keynes' writings on his "General Theory" accessible to students by presenting this theory in a careful, consistent manner that is faithful to the original.