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Historical Perspectives on Modern Economics : Ricardo's Macroeconomics: Money, Trade Cycles, and Growth - Timothy Davis

Historical Perspectives on Modern Economics

Ricardo's Macroeconomics: Money, Trade Cycles, and Growth

Paperback Published: 9th September 2010
ISBN: 9780521169271
Number Of Pages: 330

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The outline of modern macroeconomics took shape in Britain in the early nineteenth century thanks, in part, to David Ricardo, one of the most influential economists of the time. Britain was challenged by monetary inflation, industrial unemployment and the loss of jobs abroad. Ricardo pointed the way forward. As a financier and Member of Parliament, he was well versed in politics and commercial affairs. His expertise is shown by the practicality of his proposals, including the resumption of the gold standard, which was essential given the destabilizing policy of the Bank of England. Ricardo's expertise appears also in his debate with T. R. Malthus about whether an industrial economy can suffer a prolonged depression. Say's Law of Markets and the Quantity Theory of Money figure prominently in his works, but not in an extreme form. He was instead a subtle theorist, recognizing the non-neutrality of money, trade depressions and unemployment.

"Davis has done a superb job of combining history of thought and economic history. We should have more studies like it." - Samuel Hollander, Ben Gurion University, Journal of Economic History
"Timothy Davis has written a most important book.... The first two chapters of Davis's book set out the cycle as seen by Ricardo; the book goes on to analyze his account of the major incidents of the postwar period and his contribution to Say's law of markets and his analysis of whether Britain was best characterized as being subject to Say's identity or Say's equation. Davis is a strong proponent of the view that Ricardo's analysis followed Say's equation, in which general gluts can occur, rather than Say's identity, where they cannot.... Any future will need to take Davis's analysis of the important questions into account." - Walter Eltis, Oxford University, History of Political Economy
"Timothy Davis has produced a well researched, well written and scholarly piece of work." - Terry Peach, Manchester University, History of Economic Thought and Methodology

List of abbreviations
The business cycle of 1815-1818
The business cycle of 1818-1825
Ricardo as an empirical economist
Ricardo's analysis of postwar events
The law of markets
Monetary policy
List of abbreviations used in the appendices
Table of Contents provided by Publisher. All Rights Reserved.

ISBN: 9780521169271
ISBN-10: 0521169275
Series: Historical Perspectives on Modern Economics
Audience: Professional
Format: Paperback
Language: English
Number Of Pages: 330
Published: 9th September 2010
Publisher: Cambridge University Press
Country of Publication: GB
Dimensions (cm): 22.9 x 15.2  x 1.9
Weight (kg): 0.49

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