THE ECONOMICS OF JOAN ROBINSON pptx

[...]... `advanced theory of value' were `calmly committing the sacrilege of pointing out inconsistencies in Marshall' (Robinson 1951:vii) These were the years leading to the Keynesian Revolution, whose analytical foundations the economics of the short period, and the critiques of Pigou's version of the Marshallian theory of value and the firmÐwere laid in Cambridge Joan Robinson' s own contribution to these themes... the first step in the development of short-period analysis Two further works must be added to the list: the unfinished and unpublished book that has the same title as the dissertation, `The Economics of the Short Period', where the nature of the short period is further explored, and the lectures on the `Economics of the Short Period', which Kahn gave from 1931 onwards These lectures came to us in the. .. writing between the end of 1930 and the beginning of 1931; and finally the unfinished book `The Economics of the Short Period', which Kahn wrote probably between the second half of 1930 and the last months of 1932 The reason for doing so is to give an account of the beginnings of the collaboration between Kahn and Joan Robinson and to point out their common ground THE DISSERTATION In the dissertation,11... period the particular theory adopted for short-period problems, i.e the theory of output and competition on the basis of supply and demand functions, Joan Robinson drew two conclusions On the one hand she opted for a long-period theory of value and distribution, which does not encounter the same difficulties as the theory of supply and demand of `factors of production' On the other, she held firmly to the. .. The Economics of Imperfect Competition This paper is concerned with three points in particular The first is the importance of Kahn's work in providing the link between the short-period determination of price and quantity of a single commodity and the short-period theory of the level of prices and output in aggregate The second is comparison between Kahn's fellowship dissertation, The Economics of the. .. short period with the utmost precision; the result is that, compared with the dissertation, the issue of the imperfection of competition is overshadowed.23 The nature of the short period is described as a matter of fact, rather than a conceptual experiment, where certain variables are kept constant: The whole usefulness of the device of the Short Period is based on the fact that the life of fixed capital... behaviour of profit maximization, which in its most general form can be expressed by the equality of marginal cost to marginal revenue.29 However, extension to the long period of the theory of demand and supply, needed in order for the rate of profit to be determined, is impaired by the difficulty of giving meaning to the concept of a quantity of capital After acknowledging the difficulty of extending to the. .. comparison of policy choices in the 1930s and the 1980s as the background for an assessment of Joan Robinson' s contributions to i nternational economics On the fringes of the Keynesian `circle' and partly overlapping with it, strong intellectual influences other than Keynes' were present in the Cambridge of the 1930s The emergence of the Fascist regime in Italy and the Nazi regime in Germany and, later, the. .. in a general theory of competition The Economics of Imperfect Competition is built upon a general relation between average value, marginal value and elasticity of the average value If e is the elasticity of the average value, A the average value, M the marginal value, then: THE ORIGIN OF SHORT-PERIOD ANALYSIS 19 The above set of relationships (Robinson 1969a:36)17 can be applied both to the average... disproof of Levhari's non-switching the orem Joan Robinson' s criticism of neoclassical capital theory was quite independent of the reswitching phenomenon It had, as its background, her own analysis of accumulation, in which capital theory and the theory of technical progress are connected Neri Salvadori (Chapter 21) offers a critical examination of the analytical tool developed in this context by Joan Robinson . 9 JOAN ROBINSON ON MARX'S THEORY OF VALUE Marco Lippi 104 10 JOAN ROBINSON ON NORMAL PRICES (ANDTHENORMAL RATE OF PROFITS) Femando Vianello 116 11 JOAN ROBINSON, PIERO SRAFFA AND THE STANDARD. (Robinson 1951:vii). These were the years leading to the Keynesian Revolution, whose analytical foundations the economics of the short period, and the critiques of Pigou's version of the. STUDIES IN THE HISTORY OF ECONOMICS The history of economics offers a rich store of ideas about the economic dimension of human activity. This series makes new, original material of a high quality