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What is distinctive about post-Keynesian economics and what can it offer that is useful for heterodox economic theory and for economic policy? This article briefly describes the ancestry of post-Keynesian [...]

Veblen's and Commons's contributions are outlined and related to the approaches to economics and political actions over the years of the author. Commons's philosophy and pragmatic contribution to economic and political institutions in order to help create decent living conditions for wage-earners within capitalism are reflected in the author's rethink in the late 1970s of what was possible for a social democratic government in Australia to achieve. The implication of John Kenneth Galbraith's example and writings on the war in Vietnam are linked to the author's actions in Australia during Australia's involvement in the war. The relevance of Veblen's damning critique of J.B. Clark's views on capital theory for the arguments of the Cambridge--Cambridge controversies in capital theory of the 1950s-1970s, first noted by Joan Robinson, are set out. Veblen's biting analyses of the nature of capitalism in his major writings are argued to be even more relevant now for the modern world of haves, have nots and have lots. Keywords: capital, direct action, pragmatism, vices of modern society JEL Classification Codes: A13, B15, B25, B52, May I say how amazed but delighted I am to receive the 2010 Veblen-Commons Award; even more so because I receive it with Jan Kregel. I regard Jan as the [...]

An obituary of the academic and economist David Champernowne is presented. His teaching career at the London School of Economics, Oxford and Cambridge Universities and his contributions to scholarship and debate are explored.

Sir Richard Stone, knighted 1978 and 1984 Nobel Laureate in Economics, was one of the pioneers of national income and social accounts, and one of the few economists of his generation to have faced the challenge of economics as a science by combining theory and measurement within a cohesive framework. Awarded the Nobel Prize for his 'fundamental contributions to the development of national accounts', he made equally significant contributions to the empirical analysis of consumer behaviour. His work on the 'Growth Project' was instrumental in the development of econometric methodology for the construction and analysis of large disaggregated macroeconometric models.

Austin and Joan Robinson were both concerned with development economics, and they married in 1926. They shared some common mentors such as Keynes, Pigou and Marshall, though Joan was especially influenced by Kalecki, and concerned with abstract issues compared to Austin, who was more of an applied economist. Both were concerned with development in Africa and India, and Joan was also interested in development in China. They did not interact in academic terms after the 1930s, though such an interaction would have been fruitful since they complemented each other.

Keynesian economics and 'The General Theory' agree on theory and policy, as evidenced by the capital theory controversies and analyses of neoclassical theory and the alternative approaches proposed. Economists in the 1920s and 1930s were grouped into those subscribing to the Monetarism, Mark I and II, schools of thought the Keynesians, policy groups such as the National Institute of Economic and Social Research and the Cambridge Dept. of Applied Economics Policy Group, Kalecki and the groups he has inspired and the Cambridge, England, School, composed of Pierro Sraffa and his followers on one hand and Joan Robinson and her supporters on the other.

Economist Lorie Tarshis passed away on Oct. 4, 1993 in Toronto, Ontario. Tarshis is regarded as one of the most eminent economists in the world and as one of the profession's leading Keynesian. He also co-authored the pamphlet 'An Economic Program for American Democracy,' which had a profound impact on Pres. Franklin Roosevelt's budget plan for 1938. Aside from being an accomplished economist, however, Tarshis was also a distinguished teacher and an exemplary citizen and family man.

Economist Joan Robinson passed away on Aug. 3, 1983 in Cambridge, England, following a massive stroke. Ten years after her death, however, her influence on the economics profession continues to be felt. During her lifetime, Robinson made several vital contributions to the study of the problems of developing countries, Marxist and Marshallian theories and the role of money in economic systems.

Economist Josef Steindl was born on Apr. 14, 1912 in Austria and died on MAr. 7, 1993. His economic theories were influenced by Marshall and Keynes, as well as Kalecki. Steindl is best known for his two works, 'Small and Big Business: Economic Problems of the Size of Firms,' published in 1945 and 'Maturity and Stagnation in American Capitalism,' published in 1952. He also published 'Random Processes and the Growth of Firms. A Study of Pareto Law.'

Richard Kahn's co-operation with Keynes in writing the book 'The General Theory' has led to remarks from other economists such as Schumpeter and Luigi Pasinetti that Kahn should be considered as co-author of the book. Khan, however, did not agree with Keynes's assumptions on long-period equilibrium and determination of the general price level by the quantity theory of money.

Austin Robinson, a professor of economics at Cambridge, was the architect of the radical changes in Cambridge's economic thinking. He made various important changes to manpower planning in the UK to boost its exports and was influenced by Keynesian theories of economics. He was concerned about the underprivileged of the society, and was a courteous and a vivacious person.

Patients with myasthenia gravis (MG) have antibodies which react with an important part of their own bodies. Specifically, the autoantibodies in MG react with the acetylcholine receptor, which is a specialized structure in a muscle cell which receives the chemical stimulation from nerve endings. Because the chemical stimulation is interrupted, patients with myasthenia gravis have great muscle weakness and progressive fatigability. Although it is not known why some people develop antibodies against their own acetylcholine receptors and others do not, it is believed that T cells which react with the acetylcholine receptor are necessary to initiate the production of antibody. A study was conducted to evaluate the responsiveness of T cells from the blood of patients with MG to the acetylcholine receptor. T-cell reactivity with acetylcholine receptors could be identified in 23 of 114 patients tested. However, T-cell reactivity could also be identified in two of 25 normal healthy control patients. While the initial screening tests were conducted on acetylcholine receptors from the electric eel (which can be obtained cheaply in large amounts), further tests confirmed that the cells reacted with human acetylcholine receptor as well. Growing cell lines from some of these T cells were established in the laboratory to compare the T cells from the patients with those of the healthy controls. No obvious differences were found. The results of this study indicate that even a significant proportion of healthy individuals have T cells which react with human acetylcholine receptors. The cause of myasthenia gravis, therefore, lies not in the presence of such cells, but rather in some regulatory mechanism which normally keeps such cells in check. (Consumer Summary produced by Reliance Medical Information, Inc.)