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The Cambridge capital controversy, sometimes called "the capital controversy" [1] or "the two Cambridges debate", [2] was a dispute between proponents of two differing theoretical and mathematical positions in economics that started in the 1950s and lasted well into the 1960s.
The Marshall Society is an economics society at the University of Cambridge.It was established in 1927, [1] and is named after Alfred Marshall, the prominent economist who was Professor of Political Economy at Cambridge from 1885 to 1908 [2] and established the university's economics Tripos in 1903. [3]
The Faculty of Economics was first created by Alfred Marshall in 1903, although the first notable Cambridge economist is considered to be Thomas Malthus.After Marshall, the faculty was home to Arthur Cecil Pigou, father of public economics, John Hicks, who pioneered the IS-LM model and general equilibrium theory, and John Maynard Keynes, father of modern macroeconomics. [1]
Arthur Cecil Pigou (/ ˈ p iː ɡ uː /; 18 November 1877 – 7 March 1959) was an English economist.As a teacher and builder of the School of Economics at the University of Cambridge, he trained and influenced many Cambridge economists who went on to take chairs of economics around the world.
When Luigi Pasinetti arrived in Cambridge as a research student, it was the proud citadel from which Keynesian economics had conquered the world. Cambridge economics was alive and well in the hands of Keynes's successors. Joan Robinson and Nicholas Kaldor were producing a steady stream of original and provocative ideas.
A candidate reaching the correct answer will receive full marks, regardless of the method used to answer the question. All the questions that are attempted by a student and not crossed out will be assessed. However, only the six best answers will be used in the calculation of the final grade for the paper, giving a total maximum mark of 120.
Joan Violet Robinson FBA (née Maurice; 31 October 1903 – 5 August 1983) was a British economist known for her wide-ranging contributions to economic theory.One of the most prominent economists of the century, Robinson incarnated the "Cambridge School" in most of its guises in the 20th century.
Islamic economics is the practice of economics in accordance with Islamic law. The origins can be traced back to the Caliphate, [8] where an early market economy and some of the earliest forms of merchant capitalism took root between the 8th–12th centuries, which some refer to as "Islamic capitalism". [9]