Axel Leijonhufvud

Source: Wikipedia, the free encyclopedia.

Axel Leijonhufvud
Born6 September 1933
Stockholm, Sweden
Died2 May 2022(2022-05-02) (aged 88)
Education
Academic career
Institution
School or
tradition		Disequilibrium macroeconomics
InfluencesLéon Walras, John Maynard Keynes

Axel Leijonhufvud (6 September 1933 – 2 May 2022)

monetary theory. In his defining book On Keynesian Economics and the Economics of Keynes (1968) he focuses on a critique of the interpretation of Keynesian economic theory by Keynesian economists. He goes on to call the standard neoclassical synthesis interpretation of the Keynes' General Theory
as having misunderstood and misinterpreted Keynes. In one of his papers, "Life Among the Econ" (1973), he takes a comical yet critical look at the inherent clannish nature of economists; the paper was considered a devastating takedown of economics and economists.

Early life

Axel was born to the noble family

PhD in economics from Northwestern University in 1967.[1]

Career

Leijonhufvud started his career at the

monetary theory and policy.[4] He retired in 2009.[4]

Leijonhufvud was awarded

University Nice Sophia Antipolis in 1996.[4][6]

Economic theory

Leijonhufvud's monetary economics built on the work of the American economist

Walrasian equilibrium concept. In particular, Leijonhufvud advocated formally modelling the process by which information moves through the economy.[8] While the "cybernetic" approach may have failed to gain traction in mainstream economics,[9] it presaged the rational expectations revolution that would ultimately supplant the IS/LM model as the dominant paradigm in academic macroeconomics.[10][8][7]

Leijonhufvud wrote also the article "The Wicksell Connection: Variation on a Theme",[11] where he presented the Z-Theory.[12] In another article called "Effective Demand Failures",[13] he presents the Corridor Hypothesis.[8]

In 2006, the Economics Department at UCLA organized a conference in honor of Leijonhufvud's contributions to the department and to economics at large. The conference was organized by

Kenneth L. Sokoloff, among others. The papers are published in a Festschrift, Macroeconomics in the Small and the Large.[14]

Life Among the Econ

Published in the

Western Economic Journal in 1973, Leijonhufvud's "Life Among the Econ"[15] is a comical article outlining the discipline of economics, and the scholars that practice it, from the perspective of an anthropologist. Professional economists are treated as a tribe known as "the Econ" and ensuing tribal analogues are produced throughout the piece to characterize the group's unusual behavior.[3][15][16] The paper takes a comical yet critical look at the inherent clannish and xenophobic nature of economists and was considered a devastating takedown of economics and economists.[3]

Personal life

Leijonhufvud's first marriage was to Märta Ising and together they had three children - Carl, Gabriella, and Christina. He married Earlene Craver in 1977.[1] Leijonhufvud died on 2 May 2022. He was aged 88.[3]

Select works

See also

Notes

  1. ^ "Leijonhufvud" is an obsolete spelling of "lejonhuvud", the Swedish language word for "lion's head", originating as a verbal description of the family's coat of arms, three yellow/gold heraldic lion heads on a blue background.[3]

References

  1. ^ a b c d "Axel Leijonhufvud Obituary (1933–2022)". Los Angeles Times – via Legacy.com. Photographic copy of the original.
  2. ^ "L'Università di Trento piange la scomparsa di Axel Leijonhufvud" (in Italian). webmagazine.unitn.it. 6 May 2022. Retrieved 11 May 2022.
  3. ^ a b c d e f Srinivasa-Raghavan, T. C. A. (9 May 2022). "Axel Leijonhufvud, RIP". Business Standard India. Retrieved 10 May 2022.
  4. ^ a b c d "Institute for New Economic Thinking". Institute for New Economic Thinking. Retrieved 11 May 2022.
  5. ^ "CEEL - Staff LEIJONHUFVUD -". www-ceel.economia.unitn.it. Retrieved 11 May 2022.
  6. ^ "Axel Leijonhufvud papers, 1953-1980 and undated - Archives & Manuscripts at Duke University Libraries". David M. Rubenstein Rare Book & Manuscript Library. Retrieved 11 May 2022.
  7. ^
    ISBN 978-0-521-89843-0
    , retrieved 11 May 2022
  8. ^
    S2CID 154904069
    .
  9. ^ Howitt, Peter A Dictionary Article on Axel Leijonhufvud’s On Keynesian Economics and the Economics of Keynes: A Study in Monetary Theory. Brown University. 29 January 2002. Accessed 28 April 2008.
  10. ^ Jayadev, Arjun. "The Road Not Taken". Institute for New Economic Thinking. Retrieved 11 May 2022.
  11. ^ Leijonhufvud, A. (1979). "The Wicksell Connection: Variations on a Theme". UCLA Economics Working Papers.
  12. ^ Hayden, Raymond (3 April 2022). "The Clower Leijonhufvud version - Money Supply". Hayden Economics. Retrieved 11 May 2022.
  13. JSTOR 3439273
    .
  14. OCLC 252921870.{{cite book}}: CS1 maint: others (link
    )
  15. ^
    doi:10.1111/j.1465-7295.1973.tb01065.x. Archived from the original
    (PDF) on 21 May 2021. Retrieved 11 May 2022.
  16. ^ "When economic tribes go to war". Financial Times. 20 May 2021. Retrieved 11 May 2022.

External links

Retrieved from "https://en.wikipedia.org/w/index.php?title=Axel_Leijonhufvud&oldid=1214452270"