Colin Henderson's Library tagged cambridge →  View Popular

www-cfap.jbs.cam.ac.uk/peopledetail.php - Preview

alexander kern cambridge IMF finance economy bbc

www.cbr.cam.ac.uk/...alexander.htm - Preview

kern alexander cambridge IMF finance economy bbc

Keynes answered to critics of the General Theory, in 1937, that they failed to realize that there were two main innovations in that work. The first, was the relationship between money demand and uncertainty; the second was the consumption multiplier. The relation between money demand and uncertainty was in fact the main reason to explain why aggregate demand could fall short of full employment income. However, this was explained by Keynes in 1937 by recourse to a form of precautionary demand for money. In The GT, Keynes had actually merged the precautionary demand into the transactions demand for money, making it very difficult for any reader, friendly or unfriendly, to actually see what he meant in 1937. As a result, Keynes liquidity preference theory of the interest rate in the GT exhibited some important shortcomings that were the subject of many reexaminations, including one by Richard Kahn and another by James Tobin. The paper evaluates Keynes's views, Kahn's and Tobin's solutions to Keynes's dilemmas. At its conclusion it is shown why these themes remain relevant today, particularly when financial systems are in turmoil.

cje.oxfordjournals.org/...bep020v1 - Preview

keynes cambridge 1937 general theory

Some commentators have likened the state of the current IT industry to that of the late nineteenth and early twentieth century electricity generation industry, where each factory would purchase, build, operate and maintain their own electricity generation substations. The introduction of large power stations and an electricity grid with reliable and affordable metered power, spelt the end of the factory specific substation.

www.cambridgenetwork.co.uk/...default.aspx - Preview

cambridge utility amazon 18thCentury