Journal Article Schumpeter and Max Weber: Comment Get access Niles M. Hansen Niles M. Hansen University of Texas, University of Paris Search for other works by this author on: Oxford Academic Google Scholar The Quarterly Journal of Economics, Volume 80, Issue 3, August 1966, Pages 488–491, https://doi.org/10.2307/1880736 Published: 01 August 1966

Journal Article Professor Hansen and Keynesian Interest Theory: Comment Get access Alvin H. Hansen Alvin H. Hansen Harvard University Search for other works by this author on: Oxford Academic Google Scholar The Quarterly Journal of Economics, Volume 69, Issue 4, November 1955, Pages 641–643, https://doi.org/10.2307/1882002 Published: 01 November 1955

Journal Article Classical, Loanable-Fund, and Keynesian Interest Theories Get access Alvin H. Hansen Alvin H. Hansen Harvard University Search for other works by this author on: Oxford Academic Google Scholar The Quarterly Journal of Economics, Volume 65, Issue 3, August 1951, Pages 429–432, https://doi.org/10.2307/1882223 Published: 01 August 1951

Journal Article A Rejoiner Get access Alvin H. Hansen Alvin H. Hansen University of Minnesota Search for other works by this author on: Oxford Academic Google Scholar The Quarterly Journal of Economics, Volume 46, Issue 3, May 1932, Pages 562–565, https://doi.org/10.2307/1883402 Published: 01 May 1932

I. The argument that labor-saving improvements release purchasing power and so reabsorb displaced labor, 684.— The fallacy in this argument, 686.— Circumstances under which the displaced labor will be reabsorbed, 687.— II. Effect of price reduction, 688; of restrictions upon credit and wage rates, 690.— III. Effect of price maintenance, 692; of lower interest rates, 693.— IV. The effect of universal monopoly upon unemployment, 696.— Quasi-monopoly control of prices contrasted with rigid control of wage-rates, 697.

I. Marx's view of history is technological not economic. — II. The social process according to Marx, 75. — III. Technological changes, the class struggle and human adjustments to environment, 75. — IV. Forces lying back of technological evolution, according to Marx and Engels: extension of markets, development of science, cosmic evolution, 78. — V. The Marxian view against the background of fundamental factors and forces, 80. — VI. Criticism of the Marxian theory, 82. — VII. Conclusion, 83.

Current debate on monetary and fiscal policies is much concerned with the effects of such policies, and of changes in the budget and money supply. I propose here to discuss some taxonomic problems related to the concept of policy effects. Their resolution bears directly upon the controversy between Keynesians and Monetarists. I shall show that it is largely a sham-dispute, and it will appear that the empirical findings of the Monetarists have little relation to the Keynesian creed. Even negative effects of the budget with strong positive effects of money supply are fully consistent with strong positive effects of fiscal action and weak or strong effects of monetary action. The examination of the concept of effects of economic policy will be undertaken in relation to a model that is specified so as to include both the conventional Keynesian set-up for determining effective demand, and a credit mechanism that links effective demand to the banking system in the spirit of the Monetarists