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While standard accounts of the 1930s debates surrounding economic thought pit John Maynard Keynes against Friedrich von Hayek in a clash of ideology, this reflexive dichotomy is in many respects superficial. It is the argument of this book that both Keynes and Hayek developed their respective theories of the business cycle within the tradition of Swedish economist Knut Wicksell, and that this shared genealogy manifested itself in significant theoretical affinities between the two supposed antagonists. The salient features of Wicksell's work, namely the importance of money, the role of uncertainty, coordination failures, and the element of time in capital accumulation, all motivated the Keynesian and Hayekian theories of economic fluctuations. They also contributed to a fundamental convergence between the two economists during the 1930s. This shared, 'Wicksellian' vision of economic problems points to a very different research agenda from that of the Walrasian-style, general equilibrium analysis that has dominated postwar macroeconomics. This book will appeal to economists interested in historical perspective of their discipline, as well as historians of economic thought. The author not only deconstructs some of the historical misconceptions of the Keynes versus Hayek debate, but also suggests how the insights uncovered can inform and instruct modern theory. While much of the analysis is technical, it does not assume previous knowledge of 1930s economic theory, and should be accessible to economists, political scientists, and historians with general economics training, as well as to graduate students in these fields.

Economic schools --- Keynes, John Maynard --- Wicksell, Knut J.G. --- Sraffa, Piero --- Hayek, von, Friedrich August --- Keynesian economics --- Keynes, John Maynard, --- von Hayek, Friedrich August, --- Wicksell, Knut, --- Hayek, Friedrich --- Keynesian economics. --- Hayek, Friedrich A. von --- Keynes, John Maynard, - 1883-1946 --- von Hayek, Friedrich August, - 1899-1992 --- Wicksell, Knut, - 1851-1926

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From 1716 to 1845 Scottish banks were among the most dynamic and resilient in Europe, effectively absorbing economic shocks that rocked markets in London and on the continent. Tyler Beck Goodspeed explains the paradox that Scotland’s banking system achieved this success without the regulations Adam Smith considered necessary for economic stability.

Banking law --- Banks and banking --- Financial crises --- Crashes, Financial --- Crises, Financial --- Financial crashes --- Financial panics --- Panics (Finance) --- Stock exchange crashes --- Stock market panics --- Crises --- Agricultural banks --- Banking --- Banking industry --- Commercial banks --- Depository institutions --- Finance --- Financial institutions --- Money --- Law, Banking --- History --- Law and legislation --- Smith, Adam, --- E-books

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The book uses archival data to examine how access to micro-finance credit played a role in facilitating adjustment to blight during the Great Famine of Ireland. The author argues that the worst affected districts with a microfinance fund experienced substantially smaller population declines and larger increases in buffer livestock during the famine than those districts without a fund. The potentially limited capacity of credit access to mitigate the effects of a major environmental shock on the poorest, most vulnerable borrowers is also a key topic of discussion.

Economic conditions. Economic development --- Developing countries: economic development problems --- Agronomy --- World history --- landbouwbeleid --- ontwikkelingssamenwerking --- economische geschiedenis