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27. Februar 2020

Joan Robinson and the Theory of Capital

Joan Robinson first defined the term “macroeconomics” that appears in the title of these five blogs, a concept developed in her 1937 book Introduction to the Theory of Employment. If J.M. Keynes was the “father” of modern macroeconomics, Robinson, 20 years younger, was its “mother”. She holds the distinction of being the foremost economist not to win the Nobel Prize, which many anticipated she would receive in 1975. Whether because of her gender or her political views, this misjudgement weakened the reputation of the Bank of Sweden (that awards the prize).

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