The Long-Period Theory of Employment (offprinted from Zeitschrift fur Nationalokonomie Band VII, Heft 1)
Vienna: Verlag von Julius Springer, 1936.
First edition. [1], [74]-93 pp. Article offprint, bound in publisher's wraps. Good+ with vertical crease down center of booklet, a little staining to rear wrap. Author's name written in pencil on upper corner of front wrap. The first appearance of Robinson's influential attempt to extend Keynes's General Theory to the long-period, that is, with the behavior of economies over time. It is often regarded as her most original contribution to Keynesian economics and the fountainhead of the Cambridge Post-Keynesian approach. As a member of the so-called Cambridge "Circus" and commentator on drafts of the General Theory, Robinson fully understood that Keynes's formal analysis was limited to short-period equilibrium, and recognized how it enabled him to arrive at an understanding of the factors determining the level of employment at any point in time (Asimakopulos Keynes's General Theory and Accumulation, p. 166). In a letter dated 19 June 1935, Robinson wrote to Keynes that "I have been working out this long-period stuff" (quoted in Asimakopulos), a reference to the present article, in which she sought to establish whether Keynes's findings, such as involuntary unemployment and the paradox of thrift, went through in a long-period setting. An extended version of the article was reprinted the following year in Robinson's Essays in the Theory of Employment.
Price: $600.00