347
Lorenz, Edward 278, 279
Lucas, Robert 77, 161, 202, 224, 276,
337
Lucas critique 246–47
on rational expectations 198, 201,
246–47M
Mackay, Charles 88, 98
macroeconomics 19, 42, 77, 152,
153, 201, 202, 203
Maisel, Sherman 330
Malestroit, Jean de 30
Malinowski, Bronislaw 166
Malthus, Thomas 51, 57, 68–69, 74,
141, 256
management 152, 168–69
Mandelbrot, Benoit 265, 278,
279
Mandeville, Bernard 56, 66
Mankiw, Gregory 244, 303
Mao Zedong 102, 105, 185
marginal utility 63, 88, 89, 116, 110
diminishing 114–15, 124
market 51, 88
bull and bear 79
distortions 220–21
efficiency 185, 210–13, 272–73
failure 61, 65, 147, 185, 213, 308
gluts 74–75
imperfections 302
information 208–09
integration 226–31
perfect 65
socialism 146
uncertainty 274–75
see also free market
market price 22–23, 57–58, 145
Markowitz, Harry 262
Marshall, Alfred 89, 110 , 114, 117, 136,
147, 232
definition of economics 171
on economies of scale 132
on elasticity of demand 124
on limited competition 126–29
on monopolies 94, 96
on supply and demand 22, 88, 116,
110–13, 133
Marshallian Cross 110, 111
Marshall Plan 190, 192innovation 58, 60, 148–49, 313
institutions 206–07, 230–31, 285
insurance 209, 275
International Bank for Reconstruction
and Development (IBRD) 184, 186,
187
International Monetary Fund (IMF)
184, 187, 228, 231, 314
intervention 51, 146, 152, 153, 185,
284–87, 303
investment 190, 192
risk 262–65
irrationality 194–95, 266–69, 290
ISLM model 153, 160, 165
Italy: banking 26–27, 28
J
Jayachandran, Seema 314
Jensen, Michael 168
Jensen, Robert 116, 117
Jevons, William 88, 89, 114 –15, 121,
130, 232
job searches and unemployment
304–05
joint-stock companies 38, 168
K
Kahn, Charles 321
Kahn, Richard 164, 165, 181, 336
Kahneman, Daniel 162, 194, 260,
266–69
Kalecki, Michal 164
Kant, Immanuel 21
Kaplan, Sarah 148
Kates, Steven 74
Keynes, John Maynard 78, 79, 161 ,
177, 184, 208, 249
on consumption 204
on depressions 298
on general equilibrium 123
international currency union 186
on money 30, 33, 75, 198
multiplier 44, 45, 164–65
on state intervention 152, 153,
303
on supply and demand 110
on unemployment 74, 75, 156–61,
202
Keynesianism 60, 184, 245, 260,
262, 276
Kindleberger, Charles 290, 318
King, Gregory 18, 36, 37, 170
King, Mervyn 208
Kirman, Alan 278
Knight, Frank 126, 129, 163 , 208,
248, 249
Kondratiev, Nikolai Dmitriyevich 336
Kornai, János 184, 232–33
Kraay, Aart 85
Kremer, Michael 314, 315
Krugman, Paul 192, 284, 290, 312,
339
Kublai Khan 24
Kuznets, Simon 153, 179
on inequality and growth 326
on modern economy 178–79
national income accounting 36, 42,
216, 310
Kydland, Finn 260, 276–77L
labor: division of 51, 66–67
market 113, 304–05
value of 19, 36, 37, 89, 106–07, 110
Laffer, Arthur 260, 270, 271
laissez-faire 57, 60, 61, 147
Lancaster, Kelvin 185, 220–21
land 19, 39, 106, 124
Lange, Oskar 120, 146, 175–76, 210
Latin America 193, 286, 290, 291,
329
Lausanne School 147
Layard, Richard 216
Leamer, Edward 330
Lehman Brothers 213, 265, 301,
324
Leontief, Wassily 225, 312
le Prestre, Sébastien 37
Lerner, Abba 146
liberal economics 88, 153
Liefman, Robert 97
Lipsey, Richard 185, 220–21, 313
List, Friedrich 190, 242, 284, 334
Locke, John 19, 20, 21, 50, 63, 106,
110, 113INDEX