Economics · A History of Economic Thought by V Lokanathan
Chapter 30 : JOAN ROBINSON (1903-1983)
Table of contents20 sections
- 1.JOAN ROBINSON (1903-1983)
- 2.Introduction
- 3.Her Major Works
- 4.The Economics of Imperfect Competition
- 5.Product Differentiation
- 6.Selling Costs
- 7.Monopsony and Wage Exploitation
- 8.Perspectives on Economic Theory and Marx
- 9.Key Terms
- 10.📌 Exam Tidbits
- 11.Accumulation of Capital
- 12.The Cambridge Capital Controversy
- 13.Joan Robinson's Model of Capital Accumulation
- 14.Assumptions of Mrs. Robinson's Model
- 15.The Golden Age
- 16.Comparisons and Later Life
- 17.Key Terms
- 18.📌 Exam Tidbits
- 19.Conclusion
- 20.Quick-Recall Box
Chapter preview
JOAN ROBINSON (1903-1983)
Introduction
- Joan Robinson was a highly influential British economist of the 20th century belonging to the Cambridge school.
- Evolution of her economic thought:
- Initially a Marshallian.
- Later became an ardent Keynesian.
- Finally emerged as a leader of the Neo-Ricardian and Post-Keynesian Schools.
- Neo-Keynesians / Neo-Marxians: The neo-Keynesians are also referred to as neo-Marxians. Their writings predominantly appear in the Cambridge Journal of Economics, while similar ideas in the USA are published in the Journal of Post-Keynesian Economics.
- Biographical Timeline & Facts:
- October 31, 1903: Born at Camberley, Surrey, England.
- Studied economics at Girton College, Cambridge.
- 1925: Married young economist Austin Robinson after graduation.
- 1926: The couple travelled to India, getting involved in a research committee on Anglo-Indian economic relations.
- 1929: Returned to England.
- 1931 to 1971: Taught at Cambridge.
- 1965: Became a full-time professor.
- Nobel Prize: Because she made a number of original contributions, most economists thought she richly deserved the Nobel Prize, but she did not receive it, probably because of her Marxist leanings. (Note: Two of her students, Amartya Sen and Joseph Stiglitz, later won the Nobel Prize).
- Connection to India (Kerala):
- Frequent visitor to the Centre for Development Studies (CDS) at Thiruvananthapuram, Kerala until 1982.
- Mid-1970s: Served as a visiting Fellow at the Centre and instituted an Endowment Fund to support public lectures at the CDS.
Her Major Works
Joan Robinson made fundamental contributions across different areas of economics. Her publications are categorized below:
| Category | Book Title | Year |
|---|---|---|
| Major Academic Works | The Economics of Imperfect Competition | 1933 |
| An Essay on Marxian Economics | 1942 | |
| The Production Function and Theory of Capital | 1953 | |
| The Accumulation of Capital | 1956 | |
| Essays in the Theory of Economic Growth | 1962 | |
| Economic Philosophy: An Essay on the Progress of Economic Thought | 1962 | |
| Economic Heresies: Some Old Fashioned Questions in Economic Theory | 1971 | |
| Contributions to Modern Economics | 1978 | |
| Works for Lay Readers | The Cultural Revolution in China | 1969 |
| Introduction to the Theory of Employment | 1973 | |
| An Introduction to Modern Economics (co-authored with Joan Eatwell) | 1973 |
The Economics of Imperfect Competition
- The…
This is a 350-word maximum preview. The complete chapter remains available only with the Economics plan.
Locked chapter
This chapter is part of the Economics plan
Subscribe to read every chapter on any device. Free chapters remain readable for everyone.
View plans Chapter 31 : WELFARE ECONOMICS