By Dimitri B. Papadimitriou

A suite of papers from top thinkers to have a good time the paintings of the overdue Wynne Godley, and his huge, immense contribution to the sphere of financial economics. Chapters comprise in-depth discussions of the innovative monetary modelling structures that Godley brought, in addition to his prescient issues concerning the international monetary crash.

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2008) ‘A Foxy Hedgehog: Wynne Godley and Macroeconomic Modeling’, Cambridge Journal of Economics 32(4): 639–63. 1 Knowledge ways Economists are not memorialized in monuments. Wynne Godley is the exception, his likeness is cast in bronze upon Coventry Cathedral as archangel Michael (‘St Michael’s Victory over the Devil’, 1958) in a sculpture by his father-in-law Jacob Epstein. 1 At the venerable age of 75, Godley penned an essay to the London Review of Books on his battles, four decades earlier, with an abusive psychoanalyst (Godley 2001).

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.

44). This criticism greatly concerned Godley. The National Institute had been the first independent forecasting and policy institution that had inspired his Cambridge Policy Group. Godley himself had been at the National Institute in the early 1960s. From 1975 onward, policy debate and advice began to be seized by doctrine. Despite their media visibility and access to the halls of power, the New Cambridge claims were resisted by Treasury economists. In less than two years of joint seminars and efforts at mutual understanding and appreciation, the only point of consensus was the embargo on fine-tuning.

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