This book describes the important contributions of several contemporary economic figures including recent Nobel Laureates. Describing their work and putting it into an historical perspective, these chapters explain how their work constitutes a major contribution to the discipline of economics and how it has broadened economic science. Co-editor of the "Review of Political Economy", Steven Pressman has gathered together for the first time key chapters from the journal, discussing major figures such as Amartya Sen, Joseph Stiglitz, John Kenneth Galbraith, Thomas Schelling, Edmund Phelps and Robert Mundell. This volume is significant to the extent that it combines the study of the work of Nobel Laureates with the perspective of heterodox economists, including a comprehensive bibliography for the work of each economist covered.
1 Leading contemporary economists: an introduction to their cutting-edge work by Steven Pressman 1
2 The economic contributions of David M. Gordon by Heather Boushey and Steven Pressman 15
3 The economic contributions of Hyman Minsky: varieties of capitalism and institutional reform by Dimitri B. Papadimitriou and L. Randall Wray 38
4 The economic contributions of Amartya Sen by Steven Pressman and Gale Summerfield 66
5 The economic contributions of Robert A. Mundell by Robert E. Prasch 99
6 The 'rocket science' of economics: the 2000 Nobel Prize winners - James J. Heckman and Daniel L. McFadden by Carolyn J. Heinrich and Jeffrey B. Wenger 118
7 A Nobel Prize for asymmetric information: the economic contributions of George Akerlof, Michael Spence and Joseph Stiglitz by J. Barkley Rosser, Jr. 144
8 The Nobel Prize in behavioral and experimental economics: a contextual and critical appraisal of the contributions of Daniel Kahneman and Vernon Smith by Morris Altman 164
9 The economic contributions of Paul Sweezy by M. C. Howard and J. E. King 206
10 Paradise lost and found? The econometric contributions of Clive W. J. Granger and Robert F. Engle by Peter Hans Matthews 251
11 The economic contributions of John Kenneth Galbraith by Stephen P. Dunn and Steven Pressman 281
12 Kydland and Prescott's Nobel Prize: the methodology of time consistency and real business cycle models by James E. Hartley 335
13 Aumann and Schelling: two approaches to game theory by Sabu Turab Rizvi 366
14 On the contributions of Barbara Bergmann to economics by Paulette I. Olson 388
15 Edmund Phelps and modern macroeconomics by Robert W. Dimand 412