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A Biographical Dictionary of Dissenting Economists Second Edition

Edited by Philip Arestis and Malcolm Sawyer

This is a thoroughly updated and revised edition of the first, and definitive, biographical dictionary of dissenting economists. It is an extensive and authoritative guide to economists both past and present, providing biographical, bibliographical and critical information on over 100 economists working in the non-neoclassical traditions broadly defined. It includes entries on, amongst others, radical economists, Marxists, post-Keynesians, behaviourists, Kaleckians and institutionalists. The book demonstrates the extent and richness of the radical heterodox tradition in economics.
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EINTRAUB (1914–1983) Johan Deprez and William Milberg … authority has ever been the great opponent of truth. A despotic calm is usually the triumph of error. In the republic of the sciences sedition and even anarchy are beneficial in the long run to the greatest happiness of the greatest number. – W.S. Jevons (1871, pp. 275–6) Sidney Weintraub once described himself as a ‘Jevonian seditionist’ who ‘often railed in mutiny at the Establishment … to enhance the economy bounty and to iron out its division’ (see 1985). Weintraub was a dissenting economist in the most appropriate sense – a person who sought truth and explanations independent of the prevailing intellectual and political winds. He combined a keen pragmatism towards economic theory and policy with an idealism aimed at making life better for all. Speaking about those believers in the Phillips curve who called for an increase in unemployment to reduce our inflation ills, Weintraub insisted that these economists be the first to give up their jobs! Most important, Weintraub developed and promoted an interpretation of Keynes that had an explicit supply side, a variable price level and a macroeconomic theory of income distribution – all this at a time when classical Keynesianism lacked any meaningful discussion of these components. This line of thought has been labelled ‘Fundamentalist Keynesianism’ (Coddington, 1976); Weintraub’s almost solitary and unfashionable adherence to this view led Paul Samuelson (1964) to label him a ‘lone wolf’. Yet this approach provided the theoretical underpinnings for Weintraub’s wage-cost mark-up theory...

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