Hicks et l'économie de la dépression

Goulven Rubin

Working Papers from HAL

Abstract: During the 1930s, Hicks tried to understand the crisis to which capitalist systems were confronted. But unlike most economists of his time, he attempted to apply a Walrasian general equilibrium framework to the situation. The present paper studies how Hicks developed this approach in the last chapters of Value and Capital (1939). Hicks came to argue that the fluctuations of the capitalist system endangered its existence and imagined a theory of the trade cycle giving a major role to expectations and showing the possibility of an economic collapse. The paper analyses the problems raised by this research program in order to explain why Hicks abandoned it while he wrote A Contribution to the Theory of the Trade Cycle (1950).

Keywords: Hicks; Instabilité; Dépression; histoire de la macroéconomie (search for similar items in EconPapers)
Date: 2011-11-10
New Economics Papers: this item is included in nep-hpe
Note: View the original document on HAL open archive server: https://shs.hal.science/halshs-00638187
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Citations: View citations in EconPapers (4)

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Journal Article: Hicks et l'économie de la dépression (2011)
Working Paper: Hicks et l’économie de la dépression (2011)
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