Alfred Marshall, Professor of Economics at Cambridge University (1885-1908), produced a distinguished a distinguished crop of students, many of them leaders in the economics profession in subsequent generations. Pigou, Keynes and Denis Robertson are undoubtedly the most famous of these Marshall ‘pupils’ but there were many more, even if more minor forces in the development of early twentieth century economics. This book intends to examine the major work of ten of these ‘minor’ Marshallians – Sydney John Chapman (1871-1951), John Harold Clapham (1873-1946), Charles Ryle Fay (1884-1961), Alfred William Flux (1867-1942), Frederick Lavington (1881-1927), Walter Thomas Layton (1884-1966), David Huchinson MacGregor (1827-1953), Joseph Shield Nicholson (1850-1927), Charles Percy Sanger (1871-1930) and Gerald Francis Shove (1888-1947), to name them in alphabetical order. The broad aim of this book is to evaluate the more important contributions of these ‘minor’ Marshallians by selective examination of their major economic work. That evaluation has at least two dimensions. First, it focuses on the significance of the author’s individual contributions to the development of twentieth century economic thought. Secondly, it attempts to assess the Marshallian credentials of these contributions in order to indicate how Marshallian in their economics these ‘pupils’ of Marshall’s economics teaching actually stayed.

This book provides a study of the forces underlying the development of economic thought at Cambridge University during the late nineteenth century and the first half of the twentieth century. The primary lens it uses to do so is an examination of how Arthur Cecil Pigou’s thinking, heavily influenced by his predecessor, Alfred Marshall, evolved. Aspects of Pigou’s context, biography and philosophical grounding are reconstructed and then situated within the framework of Ludwik Fleck’s philosophy of scientific knowledge, most notably by drawing on the notions of ‘thought styles’ and ‘thought collectives’. In this way, Knight provides a novel contribution to the history of Pigou's economic thought.

Acclaim for the first edition: ÔThis easy-to-read collection . . . tells the whole story. Filled with short, well-written pieces, the encyclopedia covers the names and ideas that preceded Keynes, that carried his work to the center of the profession, and that eventually supplanted him there . . . There are excellent and unexpected articles on the Austrian school, the Lausanne school, and the Ricardo effect. There are well-done pieces on all the basic theoretical models at the heart of Keynesianism . . . [the] volume has been well put together. The editors deserve special praise for letting each contributor tell his own story. Those who oppose KeynesÕs ideas are just as well represented as those who carry the torch for him. This evenhandedness helps to ensure a volume that is truly representative and that will allow its users to get a full picture of the life and times of Keynesian economics.Õ Ð Bradley W. Bateman, Grinnell College, US ÔThe book will also be of some interest to serious scholars, partly because it includes biographies of many economists too young to have been included in the New Palgrave, such as Dornbusch, Fisher, Herschel Grossman, Kregel, Lucas, and Robert Townsend. It also includes some very interesting longer essays.Õ Ð Peter Howitt, The Economic Journal ÔThis book provides an excellent summary of the many strands of ÔKeynesianÕ- style thought both before and after 1936. Its well-considered entries take care to make explicit the assumptions and fundamental points of difference between theories too often concealed by the parents and advocates of specific theories in their zeal to promote the universality of the ideas. There is scarcely an entry that suffers from wordiness and repetition; the readerÕs scarce time is not abused.Õ Ð Elizabeth Webster, Economic Record ÔThis reviewer found using this source exhilarating and endowed with additional interest in view of the 1997 discussion on the inclusion or noninclusion of Keynesian economics in introductory economics textbooks. The editors should be applauded for helping to preserve a part of intellectual heritage.Õ Ð Bogdan Mieczkowski, American Reference Books ÔIt is the best single reference source on Keynesian economics and will be welcomed by students and teachers in economics as well as scholars in related social sciences and government policy makers.Õ Ð Educational Book Review This thoroughly revised and updated second edition of a highly acclaimed and authoritative reference work introduces the major concepts in the field of Keynesian economics. The comprehensive Encyclopedia features accessible, informative and provocative contributions by leading international scholars working in the tradition of Keynes. It brings together widely dispersed yet theoretically congruent ideas, presents concise biographies of economists who have contributed to the debate on Keynes and the Keynesian Revolution, and outlines the basic principles, models and tools used to discuss the economic consequences of The General Theory. Longer entries on specific topics associated with Keynes and the Keynesian Revolution analyse the principal factors that contributed to The General Theory, the economics of Keynes and the rise and apparent decline of Keynesian economics in greater detail. The second edition will ensure that An Encyclopedia of Keynesian Economics will remain the best single reference source on Keynesian economics and will continue to be welcomed by academics, students and teachers of economics as well as by scholars in related social sciences and government policymakers.

Alfred Marshall and Modern Economics re-examines Marshall's legacy and relevance to modern economic analysis with the more settled conventional wisdom concerning evolutionary processes allowing advances in economic theorising which were not possible in Marshall's life time.

This book examines how the Cambridge School economists, such as J. M. Keynes, constructed revolutionary theories and advocated drastic policies based on their ideals for social organizations and their personal characteristics. Although vast numbers of studies on Marshall, Keynes and Marshallians have been published, there have been very few studies on the ‘Keynesian Revolution’ or Keynes’s relevance to the modern world from archival and intellectual viewpoints which focus on Keynes as a member of the Cambridge School. This book approaches Keynes from three directions: person, time and perspective. The book provides a better understanding of how Keynes struggled with problems of his time and it also offers valuable lessons on how to survive fluctuating global capitalism today. It focuses on eight key economists as a group in ‘a public sphere’ rather than as a school (a unified theoretical denominator), and clarifies their visions and the widespread beliefs at the time by investigating their common motivations, lifestyles, values and habits.

George Stigler (1911-1991) was unquestionably one of the post-war giants of the economics profession. Along with such compatriots as Milton Friedman, Aaron Director, Gary Becker and others at Chicago, he would manage to radically reshape the contours of the discipline, engineering a virtual counter-revolution against the previous post-war consensus. Stigler essentially pioneered the fields of industrial organisation and regulatory economics while contributing landmark studies to the history of economic thought. George Stigler was awarded a much-deserved Nobel Prize in 1982. At heart always a shy boy from the provinces, defending himself and his beliefs against the demands of a more wicked and devious world, he remained one of the only truly inscrutable figures in the history of modern economics. A kind, deeply caring family man, he fended off those outside his inner circle by employing a razor sharp, and often cruel, wit, keeping friends, colleagues and especially enemies at an arm’s distance. “... [there was] the student who came to George complaining that he didn’t deserve the ‘F’ he’d received in George’s course. George agreed but explained that ‘F’ was the lowest grade the administration allowed him to give.” Many who had the fortune, or misfortune, of coming within the range of his sharp tongue, even in the seeming context of an innocent encounter, would bear the scars of that contact for years to come. “With a paper like this, [delivering it] under the table, would not be inappropriate.” This volume is then one of the first to shed light on an entirely enigmatic figure by approaching both the man and his work from very divergent and original perspectives. Whether it succeeds is up to the whims of the reader. Or as George Stigler was wont to say, “Let the chips fall where they may.”

Alfred Marshall's influence on the direction taken by theoretical economics in England as well as the professionalisation of the subject cannot be overstated. For better or worse, his influence over the teaching of undergraduate economics still remains strong. Important aspects of the Marshallian heritage are covered in this volume which celebrates the centenary of the publication of Alfred Marshall's Principles of Economicsin 1890. It includes a re-examination of the Principles their historical impact and current relevance, some methodological aspects of Marshall's work, Marshall's contribution to economic policy and Marshall, the man.