Hostname: page-component-78c5997874-j824f Total loading time: 0 Render date: 2024-11-20T01:29:46.619Z Has data issue: false hasContentIssue false
  • English
  • Français

Hicks et l'économie de la dépression

Published online by Cambridge University Press:  09 January 2015

Goulven Rubin
Get access

Résumé

Durant les années 1930, Hicks cherche à comprendre la crise à laquelle l'économie mondiale est confrontée. Mais à la différence de la plupart des économistes de l'époque, il tente de se représenter théoriquement la situation dans un cadre d'équilibre général walrassien. Le présent article étudie la façon dont Hicks a développé cette approche dans les derniers chapitres de Valeur et capital (1939). Hicks en vient à affirmer que les fluctuations du système capitaliste mettent son existence en danger et forme le projet d'une théorie des cycles qui accorderait une place centrale aux anticipations de prix et intégrerait un scénario d'effondrement du système. Les difficultés que ce projet rencontre dès 1939 sont analysées afin d'expliquer son abandon dans A Contribution to the Theory of the Trade Cycle (1950).

Summary

Summary

During the 1930s, Hicks tried to understand the crisis to which capitalist systems were confronted. But unlike most economists of his time, he attempted to apply a Walrasian general equilibrium framework to the situation. The present paper studies how Hicks developed this approach in the last chapters of Value and Capital (1939). Hicks came to argue that the fluctuations of the capitalist system endangered its existence and imagined a theory of the trade cycle giving a major role to expectations and showing the possibility of an economic collapse. The paper analyses the problems raised by this research program in order to explain why Hicks abandoned it while he wrote A Contribution to the Theory of the Trade Cycle (1950).

Keywords

HicksinstabilitydepressionHicksInstabilitéDépressionB22E32B21B22E32B21
Type
Research Article
Information
Recherches Économiques de Louvain/ Louvain Economic Review , Volume 77 , Issue 4 , December 2011 , pp. 57 - 87
Copyright
Copyright © Université catholique de Louvain, Institut de recherches économiques et sociales 2011 

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

Footnotes

*

Goulven Rubin, LED et Université de Paris 8. Email: [email protected]. Adresse: 2, rue de la liberié 93526 Saint-Denis Cedex. Je voudrais remercier Carlo Benetti, Alain Béraud, Mauro Boianovsky, Michel De Vroey, Franco Donzelli, les participants du séminaire interne du LED ainsi que les deux rapporteurs anonymes de cette revue pour leurs commentaires sur des versions anterieures de ce texte. Je reste seul responsable des thèses développées

References

Références

Arena, R. (2001), “Hicks et la théorie du cycle d'affaire: une interprétation”, Cahiers d'économie politique, n°39, pp. 203–214.Google Scholar
Bateman, B. W. (2003), “The end of Keynes and philosophy?” in Mizuhara, S., Runde, J., (éds.), Perspectives on the Philosophy of Keynes's Economics: Probability, Uncertainty, and Convention, London, New York, Routledge.Google Scholar
Benetti, C. (1998), “La structure logique de la Théorie générale de Keynes ”, Cahiers d'économie politique, n° 30-31, pp. 11–52.Google Scholar
Benetti, C. (2001), “Monnaie, choix individuels et frictions”, Cahiers d'économie politique, n° 39, pp. 89–106.Google Scholar
Béraud, A. (2008), “Allais et Hicks : de Walras aux modèles walrassiens”, Communication à la 6ième conférence de l'association internationale Walras, Kyoto, Japon.Google Scholar
Bliss, C. (1994), “Hicks on general equilibrium and stability”, in: Hagemann, H. et Hamouda, O. F. (éds), The Legacy of Hicks, His Contribution to Economic Analysis, London and New York: Routledge.Google Scholar
Boianovsky, M. (2004), “The IS-LM Model and the Liquidity Trap Concept: From Hicks to Krugman”, History of Political Economy, Annual Supplement to Vol. 36, pp. 92–126.Google Scholar
Coddington, A. (1983), Keynesian Economics. The Search for First Principles, London, Allen and Unwin.Google Scholar
De Vroey, M. (2004), Involuntary Unemployment, The elusive quest for a theory, London, Routledge.Google Scholar
De Vroey, M. (2006), “The temporary equilibrium method: Hicks against Hicks”, European Journal for the History of Economic Thought, vol. 13 n° 2, pp. 259–278.Google Scholar
Donzelli, F. (2009), “Hicks on Walrasian Equilibrium in the 1930s and Beyond”, STOREP Sienna Workshop.Google Scholar
Dostaler, G. (2001), “De J. R. à John ou les métamorphoses de Hicks éléments de biographie intellectuelle”, Cahiers d'économie politique, n° 39, pp. 9–23.Google Scholar
Fisher, I. (1933), “The Debt Deflation Theory of Great Depressions”, Econometrica, n° 1, pp. 337–357.Google Scholar
Grandmont, J. M. (1974), “On The Short Run Equilibrium in a Monetary Economy”, in Drèze, J. (éd.), Allocation under Uncertainty, Equilibrium and Optimality, London, Macmillan.Google Scholar
Grandmont, J. M. (1983), Money and Value, Cambridge, Cambridge University Press.Google Scholar
Grandmont, J. M. (1991), “Temporary Equilibrium: Money, Expectations and Dynamics”, in McKenzie, L. W., Zamagni, S., (eds.), Value and Capital Fifty Years Later, London, Macmillan.Google Scholar
Hicks, J. R. [1932] (1966), The Theory of Wages, New York, St Martin's Press.Google Scholar
Hicks, J. R. [1933](1982), “Equilibrium and the Cycle”, Zeitschrift für Nationalökonomie, n°4, traduction anglaise in Money, Interest and Wages, Collected Essays on Economic Theory, vol. 2, Oxford, Basil Blackwell, pp. 28–41.Google Scholar
Hicks, J. R. (1935a), “Wage and Interest : The Dynamic Problem”, The Economic Journal, vol. 45 n°179, pp. 456–468.Google Scholar
Hicks, J. R. (1935b), “A Suggestion for Simplifying the Theory of Money”, Economica, New Series 2, pp. 1–19.Google Scholar
Hicks, J. R. (1936), “Keynes' Theory of Employment”, The Economic Journal, vol. 46 n°182, pp. 238–253.Google Scholar
Hicks, J. R. (1937), “Mr Keynes and the Classics: a Suggested Interpretation”, Econometrica, vol. 5 n°2, pp. 147–159.Google Scholar
Hicks, J. R. (1937), Théorie mathématique de la valeur en régime de libre concurrence, Paris, Hermann&Cie.Google Scholar
Hicks, J. R. (1939) [1946], Value and Capital. An Inquiry Into Some Fundamental Principles of Economic Theory, 2ième edition, Oxford, The Clarendon Press.Google Scholar
Hicks, J. R. (1946), “Recent Contributions to General Equilibrium Economics”, Economica, vol. 12 n° 48, pp. 235–242.Google Scholar
Hicks, J. R. (1950), A Contribution to the Theory of the Trade Cycle, Oxford, The Clarendon Press.Google Scholar
Hoover, K. D. (1995), “Relative Wages, Rationality, and Involuntary Unemployment in Keynes's Labor Market”, History of Political Economy, vol. 27 n° 4, pp. 653–685.Google Scholar
Kaldor, N. (1951), “Mr. Hicks on the Trade Cycle”, The Economic Journal, vol. 61 n° 244, pp. 833–847.Google Scholar
Keynes, J-M. (1936)[1997], The General Theory of Employment, Interest and Money, San Diego, New York, London, Harcourt Brace&Compagny.Google Scholar
Krugman, P. (2009), “How Did Economists Get it So Wrong?”, The New York Times, 6 septembre.Google Scholar
Laidler, D. (1999), Fabricating the Keynesian Revolution, Studies of the Inter-war Literature on Money, the Cycle and Unemployment, Cambridge, Cambridge University Press.Google Scholar
Lange, O. (1944), Price Flexibility and Employment, San Antonio, Principia Press of Trinity University.Google Scholar
Walras, L. (1874)[1988], Éléments d'économie politique pure, Paris, Economica.Google Scholar