Work
Viner was a noted opponent of John Maynard Keynes during the Great Depression. While he agreed with the policies of government spending that Keynes pushed for, Viner argued that Keynes's analysis was flawed and would not stand in the long run.
Known for his enduring economic modelling of the firm, including the long- and short-run cost curves, his work is still used today. Viner is further known for having added the terms "trade creation" and "trade diversion" to the canon of economics in 1950. He also made important contributions to the theory of international trade and to the history of economic thought. While he was at Chicago, Viner co-edited the Journal of Political Economy with Frank Knight.
His most influential work on the history of economic thought Studies in the Theory of International Trade (1937) is the source for much of the knowledge of the Bullionist Controversy in 19th Century Britain.
Read more about this topic: Jacob Viner
Famous quotes containing the word work:
“Hard work. Well, that’s all right for people who don’t know how to do anything else. It’s all right for people who aren’t lucky. But once you’re lucky, you don’t have to work for other people. You make them work for you.”
—Dan Totheroh (1895–1976)
““The work is done,” grown old he thought,
“According to my boyish plan;
Let the fools rage, I swerved in nought,
Something to perfection brought;”
But louder sang that ghost “What then?””
—William Butler Yeats (1865–1939)
“Madness is the absolute break with the work of art; it forms the constitutive moment of abolition, which dissolves in time the truth of the work of art.”
—Michel Foucault (1926–1984)