The poverty of Clio: resurrecting economic history – By Francesco Boldizzoni

Brownlow, Graham

doi:10.1111/j.1468-0289.2011.00644_32.x

Cited by 3 publications

(9 citation statements)

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“…Full employment does not necessarily apply anyway, he argued, echoing his later famed thesis on 'productive employment' in his 1956 paper, because 'unless you can create jobs here … as productive as those abroad, you can only increase … employment by forcing people to take up lower-paid employment here' (Brownlow, 2010). Visible here in early embryonic form is his later conception of the importance of productive employment.…”

Section: The 'Double Act': Lynch and Whitaker As Keynesian Pioneersmentioning

confidence: 99%

“…increased during Lemass's tenure, suggesting an alternative approach may have been possible earlier (see Table 2). Graham Brownlow (2010) for his part questions Whitaker's Keynesian moniker, contrasting his focus on current savings as the prerequisite for economic development with the traditional Keynesian critique of the 'paradox of thrift'. Taken together, this suggests other competing policy perspectives may have driven the policies pursued both before and after Economic Development.…”

Section: Sourcementioning

confidence: 99%

“…Whitaker, unlike Lynch, did not prioritise tackling unemployment. He argued that the unemployment figures really 'consist largely of unemployables … rather than unemployed', which appears to categorise Ireland's unemployment as 'natural', voluntary unemployment rather than 'cyclical', downturn-induced unemployment as in a Keynesian schema (Brownlow, 2010).…”

Section: The 'Double Act': Lynch and Whitaker As Keynesian Pioneersmentioning

confidence: 99%

“…Besides, flattening the industrial business cycle was not imperative, he argued, because it was upon 'the prosperity of agriculture', not industry, 'that our level of employment … depends'. This was contingent on 'vicissitudes in the export prices for our agricultural produce and changes in … the "foreign balance"', not the industrial business cycle, and so 'we have not to contemplate the same degree of State control … in the interests of full employment' (Brownlow, 2010). Ergo, if only monetary stability (and with it the peg with sterling) could be stabilised, agriculture, not industry, would drive Ireland's economic fortunes, negating the need for demand management.…”

Section: The 'Double Act': Lynch and Whitaker As Keynesian Pioneersmentioning

confidence: 99%

“…The possibility that external, short-term factors like global stockpiling in response to the Korean War, rather than state-spendinginduced inflation, precipitated the reserves drain was apparently not considered (Brownlow, 2010). According to the department's own figures, of an increase in imports of £36.1 million from the 1952 total, only £10.6 million (29.3 per cent of the total) was an increase in the volume of imports, while the remaining £25.5 million (70 per cent) resulted from increased prices determined by global conditions, a factor not influenced by capital-spending-induced inflation (Feeney, 2009, p. 180).…”

Section: The 1952 Balance Of Payments Crisismentioning

confidence: 99%

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A road not taken? Economic ideology and the articulation of policy alternatives in Irish state economic policymaking, 1948–58

Fitzgerald

2023

Administration

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In the midst of a seemingly unending economic crisis, the period 1948–58 saw a dramatic expansion of fiscal policy in Ireland. T. K. Whitaker’s Economic Development is traditionally represented as a landmark departure behind this change from traditional Department of Finance thinking and political inertia, propelled by the perceived Keynesian ideas of his fellow younger economists. However, by assessing the policy positions each actor adopted during major economic events of the period, this study argues that Whitaker’s economic outlook largely aligned with Finance’s, and that Economic Development must be viewed in large part as a reaction to the pre-existing fiscal commitments of the public capital programme. In tandem, it concludes that although the influential younger economists of the period are sometimes described as expansionist Keynesians – such as Patrick Lynch, who in the early part of the decade spearheaded Keynesian-type initiatives such as the capital budget principle – by mid decade their views aligned with the more classical economic outlook of the Department of Finance.

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Section: The 'Double Act': Lynch and Whitaker As Keynesian Pioneersmentioning

confidence: 99%

Section: Sourcementioning

confidence: 99%

Section: The 'Double Act': Lynch and Whitaker As Keynesian Pioneersmentioning

confidence: 99%

Section: The 'Double Act': Lynch and Whitaker As Keynesian Pioneersmentioning

confidence: 99%

Section: The 1952 Balance Of Payments Crisismentioning

confidence: 99%

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A road not taken? Economic ideology and the articulation of policy alternatives in Irish state economic policymaking, 1948–58

Fitzgerald

2023

Administration

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Watchdogs of the Economy: The Development of the Irish Economics Profession's Independent Voice

Fitzgerald

O'Rourke

2023

Irish Economic and Social History

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Histories of the development of professions show a profession's relationship with the state as key to its authority. Yet professions, to gain technocratic authority, also strive to depoliticise their discourses to gain technocratic authority. This dilemmatic tension is particularly true for the economics profession. The historical development of the Irish economics provides an interesting case, where a complicated relationship with the state ultimately strengthened the profession within a society. An initial formalisation trajectory of Irish economics was thrown off course by the formation of an independent Irish state in the 1920s. This marked a period of isolation for the profession and saw it ostracised from government policy. Subsequent developments also saw the Irish economists’ position as critics of government policy rather than a core part of the state.

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Kontinuität und Wandel in der Institutionenökonomie

2018

Schriften Des Vereins Für Socialpolitik

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D. C. North's Institutionenökonomie ist eine geschichtlich operierende Theorie. Ist sie deshalb eine ‚historischen Methode'? Als geschichtlich operierende Theorie hebt sie sich eigenständig von der Standardökonomie ab, die nur zwei zeitliche Prozesse kennt: komparative Statik und Wachstum (als Faktorproduktivität über die Zeit). Die Institutionenökonomik gehört in die Wachstumsabteilung, nun allerdings mit einem neuen Ansatz. 1Nach North wäre Wachstum ohne Institutionen nicht in der historischen Dimension erfolgt, die wir ‚Kapitalismus' nennen. Insbesondere die Eigentumsrechtsinstitutionen formen einen geschichtlichen Rahmen, der Anreize für Investitionen und Marktentwicklungen setzt, die sich hochproduktiv gegen die Vorgeschichte abheben. Institutionen und Markt bilden in ihrer spezifischen Verschränkung eine neue geschichtliche Epoche, die später im 19. Jahrhundert den Namen ‚Kapitalismus' bekam. An der Differenz der spanischen und der englischen Entwicklungen vom 17. bis zum 19. Jahrhundert z. B. zeigt North, dass es institutionenbedingte Pfadabhängigkeiten gibt, die die Wirtschaftsgeschichte jeweils anders laufen lassen (North 1988;. Er differenziert in formelle (Gesetze etc.) und informelle (Normen, Sitten, Gebräuche etc.) Institutionen, die jeweils andere Verhaltenskonvergenzen entfalten, die den wirtschaftlichen Handlungsmöglichkeitsraum verschieden konfirmieren. North's Institutionenökonomie formuliert eine Kom-1 In der (neoklassischen) Wachstumstheorie werden die Institutionen als Faktor der Produktionsfunktion hinzugefügt, so z. B. über das social capital (vgl. Zack / Knack 2001; Hidalgo 2015, S. 151). Doch ist die Institutionenökonomie etwas komplexer. Socal capital ist der Name für bestimmte informelle Institutionen, wie D. C. North es nennen würde. Wenn man sie als Faktor in eine makroökonomische Produktionsfunktion einbauen will, muss man über ihre Stabilität etwas wissen, d. h. über ihre geschichtliche Invarianz -oder Kontingenz. Das ist erst noch zu untersuchen statt ‚als gegeben' zu postulieren. Andere verwenden die ‚6 World Governace Indicators', um so instituional variables einzubauen (political stability, voice and accountability, government effectiveness, control of curruption, rule of law, regulatory quality). Die letzteren sind North's formalen Institutionen, die ersteren den informalen Institutionen zuzuschlagen.

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The poverty of Clio: resurrecting economic history – By Francesco Boldizzoni

Cited by 3 publications

References 0 publications

A road not taken? Economic ideology and the articulation of policy alternatives in Irish state economic policymaking, 1948–58

A road not taken? Economic ideology and the articulation of policy alternatives in Irish state economic policymaking, 1948–58

Watchdogs of the Economy: The Development of the Irish Economics Profession's Independent Voice

Kontinuität und Wandel in der Institutionenökonomie

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