By Dimitri B. Papadimitriou
A suite of papers from best thinkers to have a good time the paintings of the overdue Wynne Godley, and his huge, immense contribution to the sphere of economic economics. Chapters contain in-depth discussions of the progressive fiscal modelling structures that Godley brought, in addition to his prescient matters in regards to the worldwide monetary crash.
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Extra info for Contributions in Stock-flow Modeling: Essays in Honor of Wynne Godley
Godley was to make this bureaucratic mandate into his professional voice. Hall held the longest and most distinguished of tenures at the Economic Section, serving for 14 years. 4 Retiring in 1961, it was Hall’s replacement, Alec Cairncross, who saw the realization of the dreams of reform. On Godley’s arrival in 1956, Hall’s section was a small operation of about 15 professional economists. For a further decade it was a tight collaborative community, holding a monopoly over advice. In 1965 the new Labour administration created the Government Economic Service and overnight all ministries were staffed with economists.
Bispham (1975, p. 45) was aware of Cambridge’s recent revising of earlier claims, as he stated: ‘By the time evidence was presented to the Expenditure Committee in mid-1974 the simple relationship suggested at the start of the controversy had become considerably more complex, implicitly weakening the argument substantially’ (Bispham, 1975, p. 45). 23. To this list, Evans (1997, p. 400) adds the Cambridge Growth Project (CGP) and Southampton University as engaged in macroeconomic modeling. The Social Science Research Council had been giving financial support to these groups since 1965.
Wynne Godley] very interesting on statistics of public expenditure. CSO [Central Statistical Office] use data for local authority 16 Contributions in Stock-flow Modeling investment quarterly which they disregard completely once they get capital spending figures once a year but these don’t really relate to actual investment so we don’t get either quarterly or annually any reliable guide of what is happening; and tend every year to be thrown off previous interpretation by annual data. (Cairncross, 1997, p.