Economics, Economists and Expectations: From Microfoundations to Macroapplications (Routledge Studies in the History of Economics) - Hardcover

Darity, William; Leeson, Robert; Young, Warren

Hardcover

ISBN 10: 0415085152 ISBN 13: 9780415085151

Publisher: Routledge, 2004

Synopsis

The concept of rational expectations has played a hugely important role in economics over the years. Dealing with the origins and development of modern approaches to expectations in micro and macroeconomics, this book makes use of primary sources and previously unpublished material from such figures as Hicks, Hawtrey and Hart. The accounts of the 'founding fathers' of the models themselves are also presented here for the first time. The authors trace the development of different approaches to expectations from the likes of Hayek, Morgenstern, and Coase right up to more modern theorists such as Friedman, Patinkin, Phelps and Lucas.

The startling conclusion that there was no 'Rational Expectations Revolution' is articulated, supported and defended with impressive clarity and authority. A necessity for economists across the world, this book will deserve its place upon many an academic bookshelf.

About this title

About the Author

Martin Leichtman, Ph.D., is Chief Psychologist in the Child and Adolescent Services of the Menninger Clinic. A graduate of the Topeka Institute for Psychoanalysis, he is a Diplomate in Clinical Psychology of the American Board of Professional Psychology and a Fellow of the Society for Personality Assessment. He serves on the faculties of the Menninger School of Mental Health Sciences and the Topeka Institute for Psychoanalysis.

Review

'This book, republished eight years after its fi rst edition, still deserves to be read because it represents a good example of how the history of economics can be shaped and enriched by the passing of time.' - Alessandro Innocenti, University of Siena

Edition details

• Publisher: Routledge
• Publication date: 2004
• ISBN 10: 0415085152
• ISBN 13: 9780415085151
• Binding: Hardcover
• Language: English
• Edition number: 1
• Number of pages: 176