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An unholy trinity: The influence of ...

Morrison, James Ashley.

An unholy trinity: The influence of Locke, Smith, & Keynes on British macroeconomic stabilization policy.

Record Type:	Electronic resources : Monograph/item
Title/Author:	An unholy trinity: The influence of Locke, Smith, & Keynes on British macroeconomic stabilization policy.
Author:	Morrison, James Ashley.
Description:	406 p.
Notes:	Adviser: Judith Goldstein.
Notes:	Source: Dissertation Abstracts International, Volume: 69-05, Section: A, page: 1976.
Contained By:	Dissertation Abstracts International69-05A.
Subject:	History, European.
Online resource:	http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=3313627
ISBN:	9780549623984

An unholy trinity: The influence of Locke, Smith, & Keynes on British macroeconomic stabilization policy.
Morrison, James Ashley.

An unholy trinity: The influence of Locke, Smith, & Keynes on British macroeconomic stabilization policy. - 406 p.

Adviser: Judith Goldstein.

Thesis (Ph.D.)--Stanford University, 2008.

Policymakers possess a number of instruments they can use to influence macroeconomic outcomes like the rate of economic growth, the level of employment, and changes in the domestic price level. Given the variety of options available to policymakers for pursuing their desired effects, how do they select the combination of instruments they use? Previous analysts have attributed variation in macroeconomic stabilization policies to changing economic conditions and interests. Such analyses, however, overstate the differences in the objectives policymakers pursue and the conditions in which they pursue them; and they understate the variation in the macroeconomic theories on which policymakers rely. I argue that, at critical junctures, key intellectuals shape policymakers' understanding of the constraints they face and the means available to them to maximize their goals given these constraints. I analyze the influence of three preeminent political-economists---John Locke, Adam Smith, and John Maynard Keynes---on several of the most significant shifts in macroeconomic stabilization policy combinations in British history: in 1696, 1783, and 1925. I use these cases to develop a more general theory of the way in which these policy-influencing ideas are developed, adopted, and implemented.

ISBN: 9780549623984Subjects--Topical Terms:

212425
History, European.

An unholy trinity: The influence of Locke, Smith, & Keynes on British macroeconomic stabilization policy.
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245 1 3 $a An unholy trinity: The influence of Locke, Smith, & Keynes on British macroeconomic stabilization policy.
300 $a 406 p.
500 $a Adviser: Judith Goldstein.
500 $a Source: Dissertation Abstracts International, Volume: 69-05, Section: A, page: 1976.
502 $a Thesis (Ph.D.)--Stanford University, 2008.
520 $a Policymakers possess a number of instruments they can use to influence macroeconomic outcomes like the rate of economic growth, the level of employment, and changes in the domestic price level. Given the variety of options available to policymakers for pursuing their desired effects, how do they select the combination of instruments they use? Previous analysts have attributed variation in macroeconomic stabilization policies to changing economic conditions and interests. Such analyses, however, overstate the differences in the objectives policymakers pursue and the conditions in which they pursue them; and they understate the variation in the macroeconomic theories on which policymakers rely. I argue that, at critical junctures, key intellectuals shape policymakers' understanding of the constraints they face and the means available to them to maximize their goals given these constraints. I analyze the influence of three preeminent political-economists---John Locke, Adam Smith, and John Maynard Keynes---on several of the most significant shifts in macroeconomic stabilization policy combinations in British history: in 1696, 1783, and 1925. I use these cases to develop a more general theory of the way in which these policy-influencing ideas are developed, adopted, and implemented.
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