Growth and Economic Development

Growth and Economic Development

Essays in Honour of A.P. Thirlwall

Edited by Philip Arestis, John S.L. McCombie and Roger Vickerman

This valuable and engaging new book bears eloquent testimony to A.P. Thirlwall’s substantial contribution to economics over the last 40 years. The volume does not attempt to provide a comprehensive review of such a prolific figure, but rather demonstrates the considerable influence that his work on economic theory has had on his contemporaries, and the profession as a whole.

Introduction

Philip Arestis and John McCombie

Subjects: development studies, development economics, economics and finance, development economics, post-keynesian economics

Extract

Philip Arestis and John McCombie Where does one begin to review Tony Thirlwall’s substantial contribution to economics? We considered starting chronologically with his early pioneering work in regional economics and labour economics. There he examined, inter alia, regional differences in unemployment and how disequilibrium in the labour market affects inflation. However, Tony has been so productive that short of an intellectual biography, it is difficult to do justice to him. Consequently, we are not going to attempt a comprehensive review, but rather let the contributions to this Festschrift bear eloquent testimony to his influence on the profession. Nevertheless, we felt it appropriate to write a few words by way of introduction to the volume, albeit it as a brief Cook’s tour of Tony’s contributions. It also follows that we have been necessarily somewhat eclectic. Fortunately, there are now two volumes of Tony’s collected essays that provide a useful and convenient reference to his work, although, having been published in Thirlwall 1995 and 1997, it is clearly time for a third volume! Even a casual perusal of these volumes will quickly establish the wide variety and scope of his output. Tony Thirlwall is best described as a Keynesian applied economist, a category he would probably not object to. Indeed, he considers the term ‘unreconstructed Keynesian’ which he has used to describe himself, not to be a pejorative title, but more an accolade! He is an applied economist, but not because he eschews theory; far from it. As we document below, he...