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Patinkin, the Cowles Commission, and the theory of unemployment and aggregate supply

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  • Mauro Boianovsky

Abstract

The paper provides an account of Don Patinkin's long-time search for an explanation of the notions of an aggregate demand constraint and unemployment under the assumption of a perfectly competitive goods market. It is argued that Patinkin's quest is reflected on the development of the concept of an aggregate supply function in the goods market. Patinkin's interpretation of aggregate supply and unemployment is compared to similar ideas put forward by Jacob Marschak, Trygve Haavelmo and Lawrence Klein, his former colleagues at the Cowles Commission in Chicago.

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  • Mauro Boianovsky, 2002. "Patinkin, the Cowles Commission, and the theory of unemployment and aggregate supply," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 9(2), pages 226-259.
    • Handle: RePEc:taf:eujhet:v:9:y:2002:i:2:p:226-259
    DOI: 10.1080/09672560210130693
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    Cited by:

    1. Goulven Rubin, 2012. "Don Patinkin's PhD Dissertation as the Prehistory of Disequilibrium Theories," History of Political Economy, Duke University Press, vol. 44(2), pages 235-276, Summer.
    2. André K. Anundsen & Ragnar Nymoen & Tord S. Krogh & Jon Vislie, 2012. "The macroeconomics of Trygve Haavelmo," Nordic Journal of Political Economy, Nordic Journal of Political Economy, vol. 37, pages 1-2.
    3. André K. Anundsen & Tord S. Krogh & Ragnar Nymoen & Jon Vislie, 2014. "Overdeterminacy and Endogenous Cycles: Trygve Haavelmo's Business Cycle Model," Metroeconomica, Wiley Blackwell, vol. 65(3), pages 460-486, July.
    4. Robert W. Dimand & Harald Hagemann, 2019. "Macroeconomic Dynamics at the Cowles Commission from the 1930s to the 1950s," Cowles Foundation Discussion Papers 2196, Cowles Foundation for Research in Economics, Yale University.

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