Titlebook: Cambridge and the Monetary Theory of Production; The Collapse of Mars Robert J. Bigg Book 1990 Palgrave Macmillan, a division of Macmillan

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Some Methodological Issues,structures either explicitly or, more often, implicitly. That is to say we rationalise a process of evolution which may be, at times, essentially intuitive or even irrational.. The process of putting one’s thoughts together, consciously or unconsciously, involves the acceptance or rejection of certa

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Risk and Uncertainty, 1900-26,e cycle) within the Marshallian research programme. As was outlined in the previous chapter, subjective uncertainty is incompatible with a substantively rational theory. Marshall, as we have seen, attempted to completely objectify uncertainty in microeconomic contexts. This conforms more closely wit

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Formalisation of the Cambridge Quantity Theory,s . (1926). The subject of the current chapter is the first algebraic presentation of Marshall’s real balances approach by Pigou (1917i)and Keynes’s (1923i)later development of that equation. Hawtrey’s nominal balances approach (as in 1919i) . also considered, since, at least in part, later work in

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The Trade Cycle,, however, stressed the monetary aspects of the cycle to a far greater extent and denied the psychological causes underlying the Marshallian approach. This chapter considers some developments of Cambridge trade cycle theory in the period up to 1923. This period is characterised by three phases. The

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