By Geoffrey Harcourt, Prue Kerr
Joan Robinson is largely thought of to be among the best economists of the twentieth Century. This booklet offers a complete learn of her lifestyles and paintings, interpreting her function within the making of the overall conception, her serious curiosity in Marxian economics, her contributions to Labour social gathering coverage and her writings on improvement, particularly China.
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Extra info for Joan Robinson (Great Thinkers in Economics)
Some members of the ‘Circus’ also attended Keynes’s lectures in the 1930s as he started to make what became The General Theory, partly as a response to the criticisms and queries of the ‘Circus’ (and after) but also, and principally, in response to both criticisms by the profession generally and, most crucially, in response to the changed circumstances of the capitalist world as the Great Depression emerged. Not only did Keynes begin to rethink on theory, he also changed his emphasis on policy, becoming more and more sceptical concerning the ability of monetary policy alone to tackle the malfunctioning of the economies of the UK and the US in particular.
In March 1941, she wrote to Kahn that ‘I am now spending my spare time reading Capital. I think it will be fun to lecture on’. And a week later, she again revealed her continuing interest in Marx in another letter to Kahn: ‘These pencil marks are due to a discussion with some young Marxists. There is a lot of excellent stuff in Marx, eg, that the quantity of money is determined by prices, not vice versa. But none of the Marxists seem to understand him’ (RFK\13\90\4\400). In May, she wrote that on her usual Monday night firewatch, ‘I spent the time putting in footnotes to the first chapter of my book on Marx.
Surplus-value is given, but only as an excess of the selling price of commodities over their cost-price. And it remains a mystery where this surplus is originated, whether it is due to the exploitation of labour in the process of production, or to overcharging the purchaser in the process of circulation, or to both. … If the rate of profit is made the point of departure, there is no basis on which to make any conclusions regarding the specific relations between the surplus and the variable capital invested in wages’ (1909b, vol.
Joan Robinson (Great Thinkers in Economics) by Geoffrey Harcourt, Prue Kerr