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The Clash of Economic Ideas: The Great Policy Debates and Experiments of the Last Hundred Years



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Cambridge Univ Pr
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The Clash of Economic Ideas interweaves the economic history of the last hundred years with the history of economic doctrines to understand how contrasting economic ideas have originated and developed over time to take their present forms. It traces the connections running from historical events to debates among economists, and from the ideas of academic writers to major experiments in economic policy. The treatment offers fresh perspectives on laissez faire, socialism and fascism; the Roaring Twenties, business cycle theories and the Great Depression; Institutionalism and the New Deal; the Keynesian Revolution; and war, nationalization and central planning. After 1945, the work explores the postwar revival of invisible-hand ideas; economic development and growth, with special attention to contrasting policies and thought in Germany and India; the gold standard, the interwar gold-exchange standard, the postwar Bretton Woods system and the Great Inflation; public goods and public choice; free trade versus protectionism; and finally fiscal policy and public debt.

Author Biography

Lawrence H. White is Professor of Economics at George Mason University, Fairfax, Virginia.

Table of Contents

List of Figuresp. vii
Acknowledgmentsp. ix
Introductionp. 1
The Turn Away from Laissez-Fairep. 12
The Bolshevik Revolution and the Socialist Calculation Debatep. 32
The Roaring Twenties and Austrian Business Cycle Theoryp. 68
The New Deal and Institutionalist Economicsp. 99
The Great Depression and Keynes's General Theoryp. 126
The Second World War and Hayek's Road to Serfdomp. 155
Postwar British Socialism and the Fabian Societyp. 174
The Mont Pelerin Society and the Rebirth of Smithian Economicsp. 202
The Postwar German "Wonder Economy" and Ordoliberalismp. 231
Indian Planning and Development Economicsp. 246
Bretton Woods and International Monetary Thoughtp. 275
The Great Inflation and Monetarismp. 306
The Growth of Government: Public Goods and Public Choicep. 332
Free Trade, Protectionism, and Trade Deficitsp. 360
From Pleasant Deficit Spending to Unpleasant Sovereign Debt Crisisp. 382
Indexp. 413
Table of Contents provided by Ingram. All Rights Reserved.

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