Victoria Chick
Encyclopedia
Victoria Chick is a Post Keynesian economist
who is best known for her contributions to the understanding of Keynes's General Theory and to the establishment of Post Keynesian economics in the UK and elsewhere.
(among others), although her interest in Keynes
and his General Theory developed much later. After further study at the London School of Economics
, in 1963 she secured a post at University College London
where she remained for the rest of her career, being appointed to a Chair in 1993.
At UCL her interests shifted from international economics to monetary theory and macroeconomics. Her first major book, The Theory of Monetary Policy (1973), was a critical evaluation of both the Keynesian and monetarist approaches to macroeconomics that were dominant of the time. In 1971 she was present at Joan Robinson
's Ely Lecture to the American Economic Association, titled The Second Crisis in Economics, and at the meeting called by Joan Robinson
and Paul Davidson
which gave conscious expression to what became the Post Keynesian school of thought.
At this point Chick returned to The General Theory and wrote a critique of Clower and Leijonhufvud's reappraisal (Leijonhufvud, 1968) of the Economics of Keynes, leading eventually to her magnum opus Macroeconomics After Keynes (1983). In this book she portrayed the Keynesian Revolution
as one of method, forced by taking money, time and uncertainty seriously and her subsequent work has placed great emphasis on methodology and institutions.
In 1988 Chick founded together with Philip Arestis the Post Keynesian Economics Study Group (PKSG).
Post-Keynesian economics
Post Keynesian economics is a school of economic thought with its origins in The General Theory of John Maynard Keynes, although its subsequent development was influenced to a large degree by Michał Kalecki, Joan Robinson, Nicholas Kaldor and Paul Davidson...
who is best known for her contributions to the understanding of Keynes's General Theory and to the establishment of Post Keynesian economics in the UK and elsewhere.
Biography
Victoria Chick graduated with a Bachelor's and Master's from the University of California at Berkeley, writing a thesis on Canada's experience in the 1950s with flexible exchange rates. As a research student she was taught by Hyman MinskyHyman Minsky
Hyman Philip Minsky was an American economist and professor of economics at Washington University in St. Louis. His research attempted to provide an understanding and explanation of the characteristics of financial crises...
(among others), although her interest in Keynes
John Maynard Keynes
John Maynard Keynes, Baron Keynes of Tilton, CB FBA , was a British economist whose ideas have profoundly affected the theory and practice of modern macroeconomics, as well as the economic policies of governments...
and his General Theory developed much later. After further study at the London School of Economics
London School of Economics
The London School of Economics and Political Science is a public research university specialised in the social sciences located in London, United Kingdom, and a constituent college of the federal University of London...
, in 1963 she secured a post at University College London
University College London
University College London is a public research university located in London, United Kingdom and the oldest and largest constituent college of the federal University of London...
where she remained for the rest of her career, being appointed to a Chair in 1993.
At UCL her interests shifted from international economics to monetary theory and macroeconomics. Her first major book, The Theory of Monetary Policy (1973), was a critical evaluation of both the Keynesian and monetarist approaches to macroeconomics that were dominant of the time. In 1971 she was present at Joan Robinson
Joan Robinson
Joan Violet Robinson FBA was a post-Keynesian economist who was well known for her knowledge of monetary economics and wide-ranging contributions to economic theory...
's Ely Lecture to the American Economic Association, titled The Second Crisis in Economics, and at the meeting called by Joan Robinson
Joan Robinson
Joan Violet Robinson FBA was a post-Keynesian economist who was well known for her knowledge of monetary economics and wide-ranging contributions to economic theory...
and Paul Davidson
Paul Davidson (economist)
Paul Davidson is an American macroeconomist who has been one of the leading spokesmen of the American branch of the Post Keynesian school in economics...
which gave conscious expression to what became the Post Keynesian school of thought.
At this point Chick returned to The General Theory and wrote a critique of Clower and Leijonhufvud's reappraisal (Leijonhufvud, 1968) of the Economics of Keynes, leading eventually to her magnum opus Macroeconomics After Keynes (1983). In this book she portrayed the Keynesian Revolution
Keynesian Revolution
The Keynesian Revolution was a fundamental reworking of economic theory concerning the factors determining employment levels in the overall economy. The revolution was set against the then orthodox economic framework: neoclassical economics....
as one of method, forced by taking money, time and uncertainty seriously and her subsequent work has placed great emphasis on methodology and institutions.
In 1988 Chick founded together with Philip Arestis the Post Keynesian Economics Study Group (PKSG).
Major works
- The Theory of Monetary Policy Oxford: Basil Blackwell (1977)
- Macroeconomics After Keynes Cambridge, Mass: MIT Press (1983)