Money, Markets and Method

Edited by Peter Howitt, Brown University, US, Elisabetta de Antoni, Professor of Economics, University of Trento, Italy and the late Axel Leijonhufvud, formerly Professor of Economics, University of California, Los Angeles, US and former Professor of Monetary Economics, University of Trento, Italy

'What [this book] has, to a greater degree than most conference volumes or Festschrifts, are pieces that provoke thought, stimulate further research, make one wish to read more works by these authors, and reminds one how much insight, stimulus, and pleasure is to be gained by re-reading Robert Clower's essays.'

• Contents: Introduction Part I: Monetary Theory and Methodology 1. Clower’s Intellectual Voyage: The ‘Ariadne’s Thread’ of Continuity Through Changes 2. Microfoundations: Adaptive or Optimizing? 3. Clower on Axiomatics 4. New Tools for Making Economics as Inductive Science Part II: Keynes’s General Theory 5. From Keynes to Hicks – An Aberration? IS–LM and the Analytical Nucleus of the General Theory 6. Variations on a Two-Interest-Rate Theme 7. Thick Markets and Thin Theories: R.W. Clower and the Economics of J.M. Keynes Part III: Market Behaviour 8. Price Formation and Exchange in Thin Markets: A Laboratory Comparison of Institutions 9. Conformism and Multiple Sycophantic Equilibria 10. Asymmetric Contests: A Resolution of the Tullock Paradox Part IV: Market Stability 11. The Institutional Foundations of the Multiplier Process 12. Learning and the Stock-Flow Model 13. Price Setting in a Schematic Model of Inductive Learning Index