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Ones and Tooze

Heterodox Economists, Part 2: Joan Robinson

Dec 20, 2024
Dive into the life and groundbreaking work of Joan Robinson, a trailblazer in heterodox economics. Discover how she challenged societal barriers as a pioneering female economist and critiqued mainstream Keynesian views. Explore her radical interpretation of Keynes and the implications of 'bastard Keynesianism' on contemporary economic discussions. Unpack her revolutionary theories on labor markets and the importance of evolving economic thought beyond traditional paradigms.
38:06

Podcast summary created with Snipd AI

Quick takeaways

  • Joan Robinson's critique of Keynesian economics emphasized its misinterpretation and the failure to address inequality and environmental issues effectively.
  • Her introduction of 'monopsony' highlighted the power dynamics in labor markets, challenging traditional views on trade unions and employer-employee relationships.

Deep dives

Joan Robinson's Influential Background

Joan Robinson was born into a colonial family in Imperial Britain in 1903, making her a remarkable figure in a traditionally male-dominated field. She studied economics at Cambridge’s Girton College, where women were forbidden from earning degrees at the time. Her intellectual journey began to flourish after marrying fellow economist Austin Robinson, leading her to pivotal experiences in India that shaped her economic perspective. Upon returning to Cambridge, she emerged as a significant contributor to the economic discourse, particularly within the circle of John Maynard Keynes, demonstrating her ability to navigate and thrive in a challenging academic environment.

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