The Economics of Keynes in Historical Context

1. Front Matter

   Pages i-xvi

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2. Introductory Material: Motivation, Method and Overview

   1. Front Matter

      Pages 1-1

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   2. Motivation: Approaching the General Theory Historically

      • Michael S. Lawlor

      Pages 3-15

   3. Methodological Stance: The Marshallian Structure of the General Theory

      • Michael S. Lawlor

      Pages 16-24

   4. Overview

      • Michael S. Lawlor

      Pages 25-32

3. Keynes, Cambridge and the Economics of Employment

   1. Front Matter

      Pages 33-33

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   2. Introduction: Keynes, the General Theory and the Labor Market

      • Michael S. Lawlor

      Pages 35-39

   3. The “Late Victorian” Intellectual Context of Marshall’s Labor Market Views

      • Michael S. Lawlor

      Pages 40-52

   4. The Treatment of Labor Markets in Marshallian Economics

      • Michael S. Lawlor

      Pages 53-70

   5. Keynes and the Labor Market

      • Michael S. Lawlor

      Pages 71-91

4. A Philosopher and a Speculator

   1. Front Matter

      Pages 93-93

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   2. Looking Backward from the General Theory: On the Historical Origins of Keynes’s Financial Market Views

      • Michael S. Lawlor

      Pages 95-106

   3. Stock Equilibrium in Asset Markets and “The Folly of Amateur Speculators”: The Marshallian Setting

      • Michael S. Lawlor

      Pages 107-125

   4. The Evolution of Keynes’s Views on Asset Markets and Speculation

      • Michael S. Lawlor

      Pages 126-151

5. “Shifting Equilibria” in a Monetary Economy

   1. Front Matter

      Pages 153-153

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   2. The Development of Cambridge Monetary Thought 1870–1935

      • Michael S. Lawlor

      Pages 155-177

   3. Keynes’s Development as a Cambridge Monetary Theorist

      • Michael S. Lawlor

      Pages 178-212

   4. Sraffa and Hayek on “Own-Rates of Interest”

      • Michael S. Lawlor

      Pages 213-236

   5. Keynes: “The Essential Properties of Interest and Money”

      • Michael S. Lawlor

      Pages 237-279

6. Conclusion: A Theory of a Monetary Economy

   1. Front Matter

      Pages 281-281

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This volume offers a comprehensive treatment of the development of Keynes's economic ideas in the General Theory of Employment, Interest and Money , using archival material, the historical record of the economics of Keynes's time and place and the scholarship available on Keynes's biography and philosophy.

• economics
• employment
• equilibrium
• intellectual history
• John Maynard Keynes
• Keynes
• labor market
• money
• unemployment

• Wake Forest University, USA

  Michael S. Lawlor

MICHAEL S. LAWLOR is Professor of Economics at Wake Forest University in Winston-Salem, North Carolina, USA. He holds a joint appointment at the Wake Forest School of Medicine, Department of Public Health Sciences. He has held visiting appointments in the Department of Economics at the University of Cambridge and Duke University and is a Life Member of Clare-Hall, Cambridge.

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