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Keynesian Comparative Economics:

Author

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  • Timothy A. Canova
  • Richard P. Holt
  • Robert N. Horn
  • J. Barkley Rosser
  • Marina V. Rosser

Abstract

ABSTRACT. The authors of this article review the late E. Lynn Turgeon's contributions to economics, including his studies of the Soviet economy, use of qualitative and demographic analyses, his Keynesian critique of U.S. economic performance, and his critique of international financial markets. Turgeon's comparative approach led to unique insights about the challenges that confronted planned economies, including the differential impact of military spending on the demand‐constrained economy of the United States and the supply‐constrained economy of the Soviet Union. His study of the Soviet and planned economies also informed his analysis of the U.S. economy and international adjustment mechanisms. Turgeon argued for expansionary fiscal and neutral monetary policies, prudential restrictions on portfolio capital flows, and increased foreign direct investment and foreign assistance to shift the burdens of adjustment from deficit to surplus countries. Throughout his career, Turgeon measured economic policies by their effects on real people, including impacts on employment, the environment, living standards, and distributions of income and wealth.

Suggested Citation

  • Timothy A. Canova & Richard P. Holt & Robert N. Horn & J. Barkley Rosser & Marina V. Rosser, 2003. "Keynesian Comparative Economics:," American Journal of Economics and Sociology, Wiley Blackwell, vol. 62(3), pages 491-508, July.
    • Handle: RePEc:bla:ajecsc:v:62:y:2003:i:3:p:491-508
    DOI: 10.1111/1536-7150.00225
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    References listed on IDEAS

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    1. Abram Bergson & Roman Bernaut & Lynn Turgeon, 1956. "Prices of Basic Industrial Products in the U.S.S.R., 1928-50," Journal of Political Economy, University of Chicago Press, vol. 64(4), pages 303-303.
    2. Rosser, J. Jr. & Rosser, Marina V. & Ahmed, Ehsan, 2000. "Income Inequality and the Informal Economy in Transition Economies," Journal of Comparative Economics, Elsevier, vol. 28(1), pages 156-171, March.
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