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Keynes, Roosevelt and the Golden Age, 2006.
A look at the life and work of John Maynard Keynes and his influence on the American economy following the Great Depression.
675 words (approx. 2.7 pages), 0 sources, $ 26.95
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Abstract
This paper discusses the influence of John Maynard Keynes' economic theories on modern economics and how those theories were truly given a pragmatic market in the American economy during and following the Great Depression. Keynes was born in Cambridge in 1883 and would never stray too far from that place since he went on to attend King College at Cambridge where he majored in mathematics. He was able to apply many of his theoretical concepts in government work in the British Treasury where he was instrumental in the Treasury's work at the Treaty of Versailles.
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Adam Smith and John Maynard Keynes, 2006.
An overview of the contribution to economics of Adam Smith and John Maynard Keynes.
2,588 words (approx. 10.4 pages), 7 sources, MLA, $ 78.95
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Abstract
There have been numerous philosophers and even thinkers in economics who have put forward their theories. This paper discusses two major philosophers of economics, Adam Smith and John Maynard Keynes. It looks at how Adam Smith, known commonly as the father of modern economics, influenced the growth of economic theory and the evolution of modern, market-based societies. It also discusses how the second great revolution in economic thought was by John Maynard Keynes and how his theory of Employment, Interest and Money bestows to academia a different way of looking at the aggregate economic universe.
Outline
Introduction
Adam Smith
John Maynard Keynes
Conclusion
From the Paper
"Smith was in support of free trade. He derived his support for free trade among nations by centering it on the obvious desirability of trade among individuals: "It is the maxim of every prudent master of a family, never to attempt to make at home what it will cost him more to make than to buy". Though Smith is usually thought to have relied on the Theory of Absolute Advantage to gain his support for free trade. According to Smith, free trade not only extended the extent of the market and, thereby, permitted greater division of labor; free trade also increased productivity by allowing countries to specialize in what they do well. In Smith's view of the workings of the market system, any short-run deviation of the market price from the long-run price would activate the forces of competition which would ultimately take the market price to its long-run level."
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Hayek-Keynes, 2002.
An explanation of two theories of the trade-cycle and the Hayek-Keynes debate.
650 words (approx. 2.6 pages), 1 source, $ 26.95
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Abstract
A review of the work of John P. Cochran and Fred R. Glahe regarding the Hayek-Keynes debate on trade-cycle theory. Both theorists followed the Wicksellian transmission mechanism concerning saving, investment, and interest rates. Keynes expected public's liquidity demand and the banking system's practices to maintain the money interest rate. Hayek proceeded from an expansion of money credit resulting in a money interest rate below the equilibrium rate.
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Karl Marx and John Baynard Keynes., 2002.
Discusses the similarities in the theories of economists Karl Marx and John Baynard Keynes regarding the 'entrepeneur' economy.
2,650 words (approx. 10.6 pages), 7 sources, $ 97.95
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Abstract
In contrast to the "co-operative" economy of classical theory, the "entrepreneur" economy described by Keynes' general theory can achieve not only market clearing as a possible outcome but also stagnation and instability. There is an aspect of common cause between Keynes and Marx. Specifically, the rhetorical task of persuading political economists to rethink capitalism's inherent stability requires a refutation of classical theory's thin concepts of money and the magnetized nature of capitalist production.
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John Maynard Keynes, 2002.
A look at the influence of John Maynard Keynes on the American economy.
650 words (approx. 2.6 pages), 4 sources, $ 26.95
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Abstract
This paper will discuss the ramifications of the work of John Maynard Keynes in the economic field of classical economics, which he started. By realizing his life, the work that he did, and the theories that he presents, we can see how this ties into his important influence in today's American economy.
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Was Keynes a Keynesian?, 2004.
This paper discusses the similarities and dissimilarities in the old and the new Keynesian theories, thereby concluding that Keynes was a true Keynesian.
1,140 words (approx. 4.6 pages), 4 sources, MLA, $ 39.95
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Abstract
This paper explains that the old Keynesians and the new Keynesians of the 1990s presume that both prices and wages tend to be stringent over a short period; as a result, the amount or the quantity of output begins to adjust itself according to the changes observed in the aggregate demand. The author points out that the major reason for the split in thought is the fact that John Maynard Keynes left his analysis of the ?General Theory of Unemployment? incomplete. The paper relates that both groups have discussed and explained the saving mechanism and its impact; but, where old Keynesians evidently opposed saving, the new Keynesians gave many pro saving statements.
From the Paper
"Mankiw, the leader of the new Keynesians, explains and makes use of the fundamental tools involved in the Keynes general theory including IS and LM curves, aggregate supply and aggregate demand, and the multiplier and accelerator. However, unlike the old Keynesians, Mankiw, his subordinates and colleagues sought benefit of the economy in the saving approach. Where old Keynesians saw a marked decrease in the output levels due to savings, Mankiw claimed and showed how saving at a high rate can cause the output levels to soar. Making use of the ?Solow growth model?, Mankiw explained and established a clear link between saving phenomenon and higher levels of output as well as the resultant ?steady-state capital stock? in the following words: ?the saving rate is a key determinant of the steady-state capital stock."
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John Maynard Keynes, 2001.
Biographical account of John Maynard Keynes.
900 words (approx. 3.6 pages), 10 sources, $ 31.95
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Abstract
This paper talks about the life of John Maynard Keynes. It also discuss some parts of the Keynesian era and his theories of the economy.
From the Paper
" John Maynard Keynes was born in 1883 and died in 1946. He was one of the greatest economists. John changed the way of the post war economic policy and he was the only one that had a whole branch of economic named after him. Keynes was a political activist and he was always devising schemes and programs. Keynes view of the world was ?It is not true that individuals posses a prescriptive ?natural liberty? in their economic activities. There is no compact conferring perpetual rights on those who have or on those who acquire the world in not so governed from above that private and social interest always coincide. It is not a correct deduction from the principle of economics that enlighten self-interest always operates in the public interest. Nor is it true that self interest generally is enlighten, more often individuals acting separately to promote their own ends are to ignorant or weak to attain even these (Minsky 149)."
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Keynes and the 1930s, 2002.
An examination of why John Maynard Keynes' economic policy ideas were so difficult to accept in the 1930s.
2,451 words (approx. 9.8 pages), 12 sources, MLA, $ 74.95
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Abstract
This paper analyzes the economic situation of the 1930s and assesses the factors that were responsible for the rejection of Keynes ideas during this time period. It discusses how the Great Depression made people nervous about accepting new economic ideas, but that his economic policies might have been beneficial in the long run.
From the Paper
"It is quite usual that people do not readily accept changes in their lives easily. A change in routine and economic patterns would certainly disrupt people?s lives, which they would certainly not great warmly. This is because of the fact that it would mean readjusting themselves to almost everything that they do. A change in economic relationships too would mean that virtually everything in society would change. This is because of the fact that nearly everything in society is economic based (Begg, 2000). When there were problems visible in society, Keynes formulated economic policies that he believed would solve economic crises if a country adopted them. However, this was not to be, as his theory was not greatest with the greatest enthusiasm."
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Keynes & Marshall Expectations In Economic Theory, 1989.
Analyzes role & impact of attitudes about future economic events & compares views of John Maynard Keynes, Alfred Marshall & others.
2,250 words (approx. 9.0 pages), 9 sources, $ 79.95
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From the Paper
"The purpose of this research is to examine and assess the concept of expectations in economic theory. Comparisons are made between the views on expectations of Alfred Marshall, John Maynard Keynes, and contemporary economists."
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Marx, Marshall, and Keynes, 2004.
A comparison of the economic theories of Karl Marx, Alfred Marshal,l and John Keynes.
1,295 words (approx. 5.2 pages), 3 sources, MLA, $ 43.95
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Abstract
This paper briefly discusses and compares the economic theories of these three economists and attempts to decide which theory is most applicable to economics. It concludes that it is impossible to apply the scientific method to economic theory.
From the Paper
"Pragmatism might be a more valuable means to measure the validity of any economic theory or, in fact, economic behavior, and on that basis, the title ?Marx, Marshall and Keynes? might better be changed to ?A Hodgepodge of Various Theories and Actions to See What Works.? In fact, a reading of ?Marx, Marshall and Keynes? was sufficient impetus for the proposal of a new economic theory one might call Metaphysical Pragmatism....and Robinson herself opened the door for the inclusion of the metaphysical in a discussion of economics. It is easy enough to reach that conclusion simply by finding a few of the holes in the economic theories of Marx, Marshall and Keynes as explained by Robinson."
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Free Market Economists Versus the Keynes Camp, 2005.
A comparative analysis of the approaches of the free market economists versus the Keynes economists
1,800 words (approx. 7.2 pages), 4 sources, $ 71.95
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Abstract
This paper examines how the battle between Keynesian economists and free market economists is one that has persisted throughout most of the twentieth century. It looks at how the Keynesians argue that free market capitalism is fundamentally flawed and needs to be appropriated by political institutions in order to function most effectively and efficiently. It also discusses how the free market economists believe that a laissez-faire approach to economics will prevent major catastrophes by limiting government intrusion into the world of the economy.
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Marx and Keynes on Capitalism, 1989.
A comparison of Marx and Keynes views on social and economic elements, labor, money, with the advantages and disadvantages of each.
2,700 words (approx. 10.8 pages), 22 sources, $ 95.95
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From the Paper
"The purpose of this research is to examine the views of Karl Marx and John Maynard Keynes, on capitalism, and to compare and contrast these views. Both the social and the economic aspects of the views of Marx and Keynes are considered. Capitalism, for the purposes of this research, is defined as a "politico.economic system, based on private property and private profit" (Baxter, 1984, p. 147).
Marx on Capitalism
On a broad scale, Marx viewed capitalism as one stage in an evolutionary process, wherein the political.economy would move from one of subsistence agriculture to an elimination of private property and the class structure (Baxter, 1984, p. 201). Marx shared his concept of an evolutionary process with the classical..."
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Karl Marx and John Maynard Keynes, 2006.
An analysis of the two most important economists of modern times.
1,900 words (approx. 7.6 pages), 5 sources, MLA, $ 60.95
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Abstract
This paper studies the two most influential economists of the modern era: Karl Marx (1818-1883) and John Maynard Keynes (1883-1946). This paper discusses how Marx's political philosophy and economic theories triggered some of the most significant revolutions in human history, while Keynes was responsible for introducing a whole new concept of economic theory that came to be known as Keynesian Economics and influenced the economies of several non-communist countries after the Second World War. The paper presents the main economic theories each economist and discusses their contribution to society -- then and now . The paper also compares and contrasts the theories and concludes with a brief assessment of their legacy and lasting impact.
Outline:
Economic Theories of Karl Marx
Materialist Concept of History
Stages of History
Theory of Surplus Value
Monopoly
Unemployment (Reserve Army)
Immiseration Theory
Economic Theories of John Maynard Keynes
Critique of Classical Economics
Government Spending and the Welfare State
Comparison of Karl Marx and John Maynard Keynes
Conclusion
From the Paper
"Some of the similarities and differences in the economic philosophies of Marx and Keynes may be understood better if we consider the major philosophical influences on the two. Marx was greatly influenced by the German philosophers Friedrich Hegel and Ludwig Feuerbach. While Hegel is known for his philosophy of dialectical historicism, Feuerbach emphasized materialism. Combining the two philosophies Marx develop his own 'Materialist' concept of history. The major philosophical influences for Keynes were the analytical philosophy of G.E. Moore, and the pragmatic conservatism of Edmund Burke-elements that are reflected in his economic theories. (Hall and Smith 245)"
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Keynes Principle of Aggregate Demand, 2005.
An overview of the Keynesian macroeconomic theory.
2,250 words (approx. 9.0 pages), 10 sources, $ 89.95
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Abstract
This paper discusses Keynesian macroeconomic theory by examining the concept of aggregate demand and whether or not full employment is attainable under this regime. Keynesian supporters claim that Keynes is the founding father of macroeconomic thought. The paper shows that some economists, however, have criticized Keynes's Principle of Aggregate Demand by suggesting that it does not work under democracy.
From the Paper
"According to economists alike, the study of economic thought and principles is a social science which examines how governments allocate scarce resources by measuring and analyzing key economic indicators including production, distribution, consumption of goods and services (i.e. GDP), and trade. When attempting to explain the economic outcome, whether it is positive or negative, various assumptions and observations are made to justify fiscal and monetary decisions, as well as normative when government intervention is required. At the turn of the 20th Century, the global economic system crumbled as a result of decreased production."
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