World of Economics, The (Parts 1-6)

Synopsis

Part 1: Professor James Buchanan, Director of the Center for Study of Public Choice, George Mason University, Virginia, and the 1986 Nobel Laureate in Economic Science, in discussion with John Burton, Head of the Department of Economics and Public Policy, Leeds Polytechnic. Over the past 20 years one of the most significant developments in economics has been the emergence of ‘public choice theory’ or the ‘economics of politics’. James Buchanan was instrumental in the development of this new approach to the analysis of public affairs and he provides insights into the applications of the principles of economics to public institutions and phenomena in western democracies.
Part 2: Professor Sir Alan Walters, Professor of Economics, John Hopkins University, Baltimore and personal economic adviser to Margaret Thatcher, 1981-83, subsequently part-time consultant, economic adviser to the World Bank 1976-80 and 1984 to the present, in discussion with John Burton. Walters examines the main tenets of British economic policy in the post-war period from the ‘Keynesianism’ of the 1950s and 1960s to the new directions of fiscal, monetary and general economic policy established after the election of Mrs Thatcher in 1979.
Part 3: Professor Karen Vaughn, Professor of Economics and Chairman of the Department of Economics, George Mason University, Virginia, in discussion with Robert Miller, Editor of ‘Economic Affairs’. Karen Vaughn, a leading member of the ‘Austrian school of economics’, discusses the principal characteristics of the market process and describes the crucial role of entrepeneurs and the importance of individualism and subjectivism.
Part 4: Dr John Gray, Official Fellow and Tutor in Politics, Jesus College, Oxford, and Lecturer in Politics, University of Oxford, in discussion with Robert Miller. Gray discusses the foundations of classical liberalism and the continuing role new classical liberals have to play in the debate on political economy and society.
Part 5: Professor Antonio Martino, Professor of Monetary History and Policy, Faculty of Political Science, University of Rome, and Scientific Director CREA (Centro Ricerche Economiche Applicate), Rome, in discussion with John Burton. Martino analyses the impact of the Keynesian revolution on the conduct and effects of economic policy, drawing upon Italian, British and American experience.
Part 6: How did Keynes’ analysis in ‘The General Theory of Employment, Interest and Money’ differ from that of the classical (pre-Keynesian) economists? Does ‘the general theory’ represent a minor qualification to the classical analysis or was it a revolutionary and superior alternative? Did ‘the general theory’ lead to the establishment of a more fruitful and general framework of economic analysis, or did it divert attention from more promising avenues of theoretical development? Yeager discusses these and related questions and provides his own perspective to the answers.

Language

English

Country

Great Britain

Medium

Video; Videocassette. Standard formats. col. 25, 33, 15, 25, 14, 30 min.

Year of production

1988

Availability

OUT OF DISTRIBUTION

Documentation

Accompanied by a discussion guide written by scholars who set the speaker’s ideas in the general perspective of contemporary political economy; bibliographies and questions for discussion are also included.

Uses

Teachers and students of economics.*

Subjects

Economics

Keywords

economics theory

Sections

Title

Economics, democracy and the constitution

Synopsis

Part 1: Professor James Buchanan, Director of the Center for Study of Public Choice, George Mason University, Virginia, and the 1986 Nobel Laureate in Economic Science, in discussion with John Burton, Head of the Department of Economics and Public Policy,

Title

British post-war economic performance: from Attlee to Thatcher

Synopsis

Part 2: Professor Sir Alan Walters, Professor of Economics, John Hopkins University, Baltimore and personal economic adviser to Margaret Thatcher, 1981-83, subsequently part-time consultant, economic adviser to the World Bank 1976-80 and 1984 to the prese

Title

Market process, The

Synopsis

Part 3: Professor Karen Vaughn, Professor of Economics and Chairman of the Department of Economics, George Mason University, Virginia, in discussion with Robert Miller, Editor of 'Economic Affairs'. Karen Vaughn, a leading member of the 'Austrian school o

Title

New classical liberalism: challenges and conflicts

Synopsis

Part 4: Dr John Gray, Official Fellow and Tutor in Politics, Jesus College, Oxford, and Lecturer in Politics, University of Oxford, in discussion with Robert Miller. Gray discusses the foundations of classical liberalism and the continuing role new classi

Title

Keynesian revolution and economic policy

Synopsis

Part 5: Professor Antonio Martino, Professor of Monetary History and Policy, Faculty of Political Science, University of Rome, and Scientific Director CREA (Centro Ricerche Economiche Applicate), Rome, in discussion with John Burton. Martino analyses the

Title

Keynes and the Keynesians

Synopsis

Part 6: How did Keynes' analysis in 'The General Theory of Employment, Interest and Money' differ from that of the classical (pre-Keynesian) economists? Does 'the general theory' represent a minor qualification to the classical analysis or was it a revolu

Production Company

Name

Diverse Productions

Sponsor

Name

Institute of Economic Affairs

Distributor

Name

Guild Sound & Vision

Notes

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