Description:
Since the origins of the Industrial Revolution in Britain, innovation and investment have been crucial to capitalism and economic development. This chapter sets up a link between innovation and investment in historical time, without reference to any static equilibrium. In this manner, the relationship between the instability of cycles and growth trends can be identified. Australian data is then used to identify important linkages between these two crucial elements.
Description:
"This volume collects a number of papers presented at the 7th International Post Keynesian Summer School and Workshop during the summer of 2002 at the University of Missouri, Kansas City."
Description:
On a March evening in 1973 the ABC television compere of the Monday Conference programme, Robert Moore introduced his guest, Paul Samuelson, by holding aloft a copy of his economics textbook. Moore joked that Samuelson had taught more people economics than anyone else. He was also, of course, an eminent economist with major contributions in public finance, international economics and the dissemination of Keynesian economics. This paper will discuss how the Australian adaption of Paul Samuelson's Economics came about. Extensively adapted to fit Australian conditions, the two Australian authors, Keith Hancock and Bob Wallace, both at Flinders University, came up with a publishing success that was to take Australian university economics instruction by storm. They were not, however, Samuelson's first choice as adaptors. A whole generation of Australian students was brought up on Samuelson. It was also the first attempt at adapting an overseas text to suit Australian institutions and conventions. The paper assesses how well it was received and how it spawned imitators.