Geoff Harcourt

Visiting Professorial Fellow, Emeritus Reader in the History of Economic Theory, Cambridge, Emeritus Fellow, Jesus College, Professor Emeritus, Adelaide

School of Economics - Hon.D.h.c.rer.pol, University of Fribourg | Hon.D. Com, University of Melbourne | Hon.Litt.D, De Montfort University | Litt.D, Cambridge University | PhD, Cambridge University | MCom, University of Melbourne | BCom (Hons), University of Melbourne


History of economic theory, intellectual biography, and Post-Keynesian theory and policy

  • Bio
  • Engagement

About Geoff

​Professor Emeritus Geoffrey Harcourt AO is Emeritus Reader in the History of Economic Theory, University of Cambridge (1998), Emeritus Fellow, Jesus College, Cambridge (1998) and Professor Emeritus, University of Adelaide (1988). His research interests include history of economic theory, intellectual biography and Post-Keynesian theory and policy. Now 'over sixty years a [Post-]Keynesian', he has authored, co-authored, edited or co-edited 29 volumes, as well as over 350 articles, book chapters and reviews. One of his latest works is the two-volume Oxford Handbook of Post-Keynesian Economics, jointly edited with Peter Kriesler. Geoff is a Fellow of the Academy of Social Sciences in Australia and in the United Kingdom, an Officer of the Order of Australia, and a Distinguished Fellow of the Economic Society of Australia, The History of Economics Society USA, The European Society for the History of Economic Thought and The History of Economic Thought Society of Australia. He was the 2010 Joint Veblen - Commons Awardee of the Association for Evolutionary Economics USA.


  • 2010 Veblen - Commons Award (joint with J. A. Kregel), Association for Evolutionary Economics
  • 2004 Honorary Member, European Society for the History of Economic Thought
  • 2004 Distinguished Fellow, History of Economics Society, USA
  • 2003 Elected an Academician of the Academy of Learned Societies for the Social Sciences (AcSS)
  • 1996 Distinguished Fellow, Economic Society of Australia
  • 1994 Officer in the General Division of the Order of Australia (AO) 'for service to economic theory and to the history of economic thought'
  • 1988 Professor Emeritus, University of Adelaide
  • 1971 Elected Fellow of the Academy of Social Sciences in Australia (F.A.S.S.A)


  • (With P.H. Karmel and R.H. Wallace), Economic Activity, (Cambridge: Cambridge University Press, 1967). (Italian Edition, 1969), pp.xi + 324
  • (With R.H. Parker, eds.), Readings in the Concept and Measurement of Income, Cambridge: Cambridge University Press, 1969). (Second edition, with G. Whittington, Philip Allan, 1986), pp. viii + 402
  • Some Cambridge Controversies in the Theory of Capital, (Cambridge: Cambridge University Press, 1972). (Italian edition, 1973; Polish edition, 1975; Spanish edition, 1975
  • (Ed.), The Microeconomic Foundations of Macroeconomics, (London: Macmillan, 1977), pp.ix + 401
  • (with P.A. Riach, eds.), A 'Second Edition' of The General Theory, 2 Vols. (London, Routledge, 1997), + 503, xlix + 400. Japanese translation with a Foreword by Hirofumi Uzawa, 2005
  • (with Christopher Bliss and Avi J. Cohen, eds.) Capital Theory, 3 vols (Cheltenham, Glos., UK and Northampton, Mass., USA, Edward Elgar Publishing Limited), 2005, pp. lx + 564; x + 515; viii + 522
  • The Structure of Post-Keynesian Economics. The Core Contributions of the Pioneers, Cambridge: Cambridge University Press, 2006, pp x + 2052
  • (With Prue Kerr) Joan Robinson , Houndmills, Basingstoke, Hampshire: Palgrave Macmillan, 2009, pp.x + 270
  • Nine volumes of selected essays


  • (With Duncan Ironmonger), 'Pilot Survey of Personal Savings', Economic Record. Vol.32, May 1956, pp.106-18
  • 'A Critique of Mr. Kaldor's Model of Income Distribution and Economic Growth', Australian Economic Papers, June 1963, pp.20-36
  • 'The Accountant in a Golden Age', Oxford Economic Papers. Vol.17, March, 1965, pp.66-80. (Reprinted in R.H. Parker and G.C. Harcourt (eds.), Readings in the Concept and Measurement of Income (Cambridge: Cambridge University Press, 1969, pp.310-25)
  • 'A Two-Sector Model of the Distribution of Income and the Level of Employment in the Short Run', Economic Record. Vol.41, March 1965, pp.103-17
  • 'Biases in Empirical Estimates of the Elasticities of Substitution of C.E.S. Production Functions', Review of Economic Studies. Vol.33, July 1966, pp.227-33
  • 'Investment-Decision Criteria, Investment Incentives and the Choice of Technique', Economic Journal. Vol.78, March 1968, pp.77-95
  • 'Some Cambridge Controversies in the Theory of Capital', Journal of Economic Literature. Vol.7, June 1969, pp.369-405. Reprinted in Italian in G. Nardozzi and V.Valli (eds.), Teori Dello Sviluppo Economico (Etas Kompass, 1971)
  • 'Decline and Rise: The Revival of (Classical) Political Economy', Economic Record. Vol.51, September 1975, pp.339-56
  • 'The Cambridge Controversies: Old Ways and New Horizons - or Dead End', Oxford Economic Papers. Vol.28, March 1976, pp.25-65
  • (With Peter Kenyon), 'Pricing and the Investment Decision', Kyklos, 29, Fasc. 3. Vol.29, 1976, pp.449-77
  • 'Eric Russell, 1921-77: A Great Australian Political Economist' (The 1977 Newcastle Lecture in Political Economy) Research Report No 36, pp.iii + 26)
  • 'The Social Science Imperialists', (The 1978 Academy Lecture, November 1978), Politics. Vol.14, November 1979, pp.243-51)
  • 'Marshall, Sraffa and Keynes: Incompatible Bedfellows' Eastern Economic Journal. Vol.5, January 1981, pp.39-50
  • 'Reflections on the Development of Economics as a Discipline' (The 1982 G.L. Wood Memorial Lecture, June 1982), published in History of Political Economy. Vol.16, 1984, pp.489-517
  • 'Making Socialism in Your Own Country' (The 1982 John Curtin Memorial Lecture, August 1982), pp.28
  • 'Post Keynesianism: Quite Wrong and/or Nothing New', Thames Papers in Political Economy, Summer 1982, pp.1-19, Reprinted as chapter 6 in Philip Arestis and Thanos Skouras (eds.). Post Keynesian Economic Theory: A Challenge to Neo-Classical Economics, (Brighton: Wheatsheaf Books, 1985)
  • 'The Influence of Piero Sraffa on the Contributions of Joan Robinson to Economic Theory', Supplement to the Economic Journal, Vol.96, 1986, pp.96-108
  • (With O.F. Hamouda), 'Post Keynesianism: From Criticism to Coherence' Bulletin of Economic Research. Vol.40, January 1988, pp.1-33.
  • 'Nicholas Kaldor, 12 May 1908-30 September 1986', Economica, 55, May, 1988, pp.159-70
  • 'Marshall's Principles as seen at Cambridge through the eyes of Gerald Shove, Dennis Robertson and Joan Robinson', in M. Dardi, M. Gallegati and E. Pesciarelli (eds.), Alfred Marshall's Principles of Economics, 1890-1990, Vol. I, Quaderni di storia dell economia politica. Vol.9, 1991, pp. 355-72
  • 'Markets, Madness and a Middle Way', The Second Annual Donald Horne Address, Melbourne, 1992, also published in Australian Quarterly, Vol.64, No. 1, pp.1-17 and, in a revised version, in 'Viewpoint', The Cambridge Review, Vol.114, No.2320, February, 1993, pp.40-45
  • 'Kahn and Keynes and the Making of The General Theory', Cambridge Journal of Economics, Vol. 17, February 1994, pp.11-23
  • (with J.A.T.R. Araujo), 'Maurice Dobb, Joan Robinson and Gerald Shove on Accumulation and the Rate of Profits', Journal of the History of Economic Thought, 15, Spring, 1993, pp.1-30, Revised version 'Accumulation and the Rate of Profits: Reflections on the issues raised in the correspondence between Maurice Dobb, Joan Robinson and Gerald Shove' in G.C. Harcourt, Capitalism, Socialism and Post-Keynesianism. Selected Essays of G.C. Harcourt Aldershot, Hants; Edward Elgar, 1995, pp. 79-106
  • 'Krishna Bharadwaj, 21 August 1935-8 March 1992: A Memoir', Journal of Post Keynesian Economics, Winter 1993/94, Vol. 16, No. 2, pp.299-311
  • 'Taming Speculators and Putting the World on Course to Prosperity: A 'Modest Proposal', Economic and Political Weekly, Vol. XXIX, September 17, 1994, pp.2490-2492
  • 'Joan Robinson, 1903-1983', Economic Journal, Vol. 105, September, 1995, pp.1228-1243. French version in Joan Robinson Hérésies Economiques Innovations: Cahiers d'economie de l'innovation, L'Harmattan 2001/2, pp.9-32
  • 'Lorie Tarshis, 1911-1993: In Appreciation', Economic Journal, Vol. 105, September, 1995, pp.1244-1255
  • 'University Ideals and the Market', The Third Halford Cook Memorial Lecture, Queens' College, University of Melbourne, May 1996, pp.1-11. Revised version, The Cambridge Review, Vol. 117, November 1996, pp. 35-39. Also in Journal of Economic and Social Policy, Vol. 3, 1998, pp.28-35
  • 'Economic Theory and Economic Policy: Two Views' (The Seventh Colin Clark Memorial Lecture) in Joanilio Rodolpho Teixeira (ed.), Issues in Modern Political Economy, (University of Brasilia, 1997), pp.15-47. Also in Economic Analysis and Policy, Vol. 27, September, 1997, pp. 113-30.
  • 'Edward Austin Gossage Robinson 1897-1993', Proceedings of the British Academy, Vol. 94, 1997, pp.707-731
  • 'Two Views on Development: Austin and Joan Robinson', Cambridge Journal of Economics, Vol.22, May, 1998, pp. 367-77
  • 'Political Economy, Politics and Religion: Intertwined and Indissoluble Passions', The American Economist, Vol. 42, Fall, 1998, pp. 3-18. Reprinted in Michael Szenberg and Lall Ramratten (eds), Reflections of Eminent Economists, Cheltenham, UK, Northampton, MA, USA 2004, Edward Elgar, pp. 251-74
  • (with Avi. J. Cohen), 'Whatever Happened to the Cambridge Capital Theory Controversies', Journal of Economic Perspectives, Vol. 17, No. 1, Winter 2003, pp. 199-214
  • 'The rise and, hopefully, the fall of economic neo-liberalism in theory and practice', The Economic and Labour Relations Review, vol 20, December, 2009, pp. 1-6
  • 'The crisis in mainstream economics', Real-World Economic Review, issue 53, 201, 47-51
  • Nine volumes of selected essays

Review articles

  • Review Article of W.E.G. Salter, Productivity and Technical Change, Economic Record. Vol.38, September 1962, pp.388-94
  • (With Vincent G. Massaro), 'Mr. Sraffa's Production of Commodities'. Economic Record. Vol.40, September 1964, pp.442-54
  • (with Michael Kitson), 'Fifty Years of Measurement: A Cambridge View', Review of Income and Wealth, Series 39, No. 4, December 1993, pp.435-47
  • 'The Kaldor Legacy: Reviewing Nicholas Kaldor, Causes of Growth and Stagnation in the World Economy, (Cambridge, Cambridge University Press, 1996)', Journal of International and Comparative Economics, Vol.5, 1997. pp. 341-357
  • (with Sean Turnell), 'On Skidelsky's Keynes', Economic and Political Weekly, XL, November 19, 2005, pp. 4931-46
  • 'On Paul Krugman on Maynard Keynes' General Theory', History of Economic Review, 2008, 125-31


  • (With Vincent G. Massaro), 'A Note on Mr. Sraffa's Sub-Systems', Economic Journal. Vol.74, September 1964, pp.715-22. (Reprinted in French in Gilbert, Farcarello and Phillipe de Cavergne (eds.) Une nouvelle approche en économie politique essais sur Sraffa, (Paris: Economica 1977), pp.53-61)
  • (with Paul Dalziel) 'A Note on `Mr Meade's Relation' and International Capital Movements', Cambridge Journal of Economics, Vol.21, September 1997, pp.621-31
  • A revolution yet to be accomplished: reviewing Luigi Pasinetti, Keynes and the Cambridge Keynesians, 2007, History of Economic Ideas, XVII, 2009, 203-20

Chapters in books

  • 'Robinson, Joan', in David L. Sills (ed.) International Encyclopedia of the Social Sciences, Biographical Supplement, Vol. 18, (New York: The Free Press, 1979, pp.663-71)
  • (With P.M. Kerr), 'The Mixed Economy', Chapter 14 in Jane North and Pat Weller (eds.), Labor, (Sydney: Ian Novak, 1980), pp.184-95
  • 'The Sraffian Contribution: An Evaluation', in Ian Bradley and Michael Howard (eds.), Classical and Marxian Political Economy: Essays in Honour of Ronald L. Meek (London: Macmillan, 1982), pp.255-75
  • (With T.J. O'Shaughnessy), 'Keynes's Unemployment Equilibrium: Some Insights from Joan Robinson, Piero Sraffa and Richard Kahn', in G.C. Harcourt (ed.), Keynes and his Contemporaries. The Sixth and Centennial Keynes Seminar held at the University of Kent at Canterbury 1983, (London: Macmillan, 1985), pp.3-41
  • 'Theoretical Methods and Unfinished Business' in David A. Reese (ed.). The Legacy of Keynes, Nobel Conference XXII, (San Francisco, Harper and Row 1987), pp.1-22. (also in Portuguese 'O Legado de Keynes: Metodos Teoricos e Assustos Incabados', Ch.IV of Edward J. Amedeo (ed.). John M. Keynes: Cinquenta ano da Teoria Geral Rio de Janeiro : INPES/IPEA, 1989, pp.45-62
  • A shorter version is reprinted as 'On Keynes's Method in Economic Theory' in Mario Sabastiani (ed.), The Notion of Equilibrium in the Keynesian Theory (Basingstoke, Macmillan, 1992), pp.99-105
  • 'On the Contributions of Joan Robinson and Piero Sraffa to Economic Theory', Ch. 3 of Maxine Berg (ed.), Political Economy in the Twentieth Century, New York, London, Philip Allan, 1990, pp.35-67
  • 'On Mathematics and Economics' in G.C. Harcourt, Capitalism, Socialism and Post-Keynesianism. Selected Essays of G.C. Harcourt, Cheltenham, Glos. Edward Elgar, 1995, 201-17
  • 'Some Reflections on Joan Robinson's Changes of Mind and Their Relationship to Post-Keynesianism and the Economics Profession', Chapter 26 of Maria Cristina Marcuzzo, Luigi L. Pasinetti and Alessandro Roncaglia (eds), The Economics of Joan Robinson, (London: Routledge, 1996)
  • 'How I do Economics', in Steven G. Medema and Warren J. Samuels (eds), Foundations of Research in Economics. How do Economists do Economics, (Cheltenham, Edward Elgar, 1996, pp.93-102)
  • (with P. Kerr) 'Marx, Karl Heinrich (1818-83)' in Malcolm Warner (ed), International Encyclopedia of Business and Management, (London: Routledge, 1996, pp.3388-95). 2nd edition, Vol. 5, 2001, pp. 4355-62. Reprinted in William Lazonick (ed.) The IEBN Handbook of Economics, London: Thomson, 2002, pp.674-80
  • 'Horses for Courses': The Making of a Post-Keynesian Economist' in Arnold Heertje (ed.), The Makers of Modern Economics, Volume IV, Cheltenham, U.K.; Northampton, MA, USA: Edward Elgar, 1999, pp. 32-69
  • 'A Left Keynesian View of the Phillips Curve Trade-off' in Robert Leeson (ed.), A.W.H. Phillips: Collected Works in Contemporary Perspective, Cambridge, Cambridge University Press, 2000, pp. 304-7
  • 'Investment Expenditure, Unrealized Expectations and Offsetting Monetary Policies' in Riccardo Bellofiore and Piero Ferrai (eds.), Financial Fragility and Investment in the Capitalist Economy. The Economic legacy of Hyman Minsky, Volume II, Cheltenham, U.K.: Edward Elgar, 2001, pp. 69-75
  • (with Pervez Tahir and Prue Kerr), 'On Joan Robinson and China', Ch. 13 of Joan Robinson. Critical Assessments of Leading Economists, Vol. 5, edited by Prue Kerr with the collaboration of G.C. Harcourt, (London, Routledge, 2002), pp.267-80
  • (with Prue Kerr), 'Keynes and the Cambridge School', ch. 22 of Warren J. Samuels, Jeff E. Biddle and John B. Davis (eds.), A Companion to the History of Economic Thought, Malden, USA, Oxford, UK: Blackwell Publishing, 2003, pp. 343-59
  • 'Cambridge Economic Tradition', in J.E. King (ed.), The Elgar Companion to Post Keynesian Economics, Cheltenham, Glos., UK, Northampton, Mass., USA: Edward Elgar Publishing Limited, 2003, pp. 44-51
  • 'The economics of Keynes and its theoretical and political importance: or, what would Marx and Keynes have made of the happenings of the last 30 years' in Gudmundur Magnusson and Jesper Jespersen (eds.), Keynes's General Theory and Current Views: Methodology, Institutions and Policies (Iceland: Faculty of Economies and Business Administration, University of Iceland, 2004) pp. 17-32
  • Slightly altered version titled 'The theoretical and political importance of the economics of Keynes: or, what would Marx and Keynes have made of the happenings of the past 30 years or more' in Mathew Forstater, Gary Mongiovi and Steven Pressman (eds.), Post Keynesian Macroeconomics. Essays in honour of Ingrid Rima, London and New York: Routledge, 2007, pp.56-69
  • (with Avi J. Cohen), 'Introduction: Capital Theory Controversy: Scarcity, Production, Equilibrium and Time' in Christopher Bliss, Avi J. Cohen and G C. Harcourt (eds) Capital Theory, Volume I (Cheltenham, Glos., UK and Northampton, Mass., USA, Edward Elgar Publishing Limited), 2005, pp. xxvii - lx.
  • 'The relevance of the Cambridge-Cambridge controversies in capital theory for econometric practice' in Philips Arestis, Michelle Baddeley and John S. L. McCombie (eds.), Economic Growth. New Directions in Theory and Policy (Cheltenham, UK, Northampton, MA, USA: Edward Elgar), 2007, pp.117-35
  • 'What is the Cambridge approach to economics' in Eckhard Hein and Achim Truger (eds.), Money, Distribution and Economic Policy. Alternatives to Orthodox Macroeconomics (Cheltenham, UK, Northampton, MA, USA: Edward Elgar), 2007, pp.11-30
  • 'Economics: from Moral Science to Game Theory' in Peter Pagnamenta (ed.) The Univers​ity of Cambridge: an 800th Anniversary Portrait, London: Third Millenn​ium Publishing, 2008, pp. 168-171
  • 'The Contributions of Tom Asinakopulos to Post Keynesian Economics', Chapter 5 in L. Randall Wray and Mathew Forstater (eds.), Keynes and Macroeconomics after 70 Years, Critical Assessments of The General Theory, Cheltenham, UK; Northampton, MA, USA: Edward Elgar, 2008, pp. 64-79
  • (With P.H. Nolan) 'Price theory and multinational oligopoly: Kurt Rothschild and Stephen Hymer revisited', Chapter 10 in Manoj Kumar Sanyal, Mandira Sanyal and Shahina Amin (eds.), Post-Reform Development in Asia: Essays for Amiya Kumar Bagchi, Orient Black Swan, 2009, pp. 263-288
  • (With Prue Kerr), 'The Accumulation of Capital over 50 years on', Chapter 19 in Stefano Zambelli (ed.), Computable, Constructive and Behavioural Economic Dynamics. Essays in Honour of Kumaraswamy (Vela) Velupillai. London and New York: Routledge, 2010, pp. 291-317
  • 'Finance, speculation and stability: Post Keynesian Policies for modern capitalism', Chapter 16 in Giuseppe Fontana, John McCombie and Malcolm Sawyer (eds), Macroeconomics, Finance and Money. Essays in honour of Philip Arestis, Houndmills, Hants: Palgrave Macmillan, 200, 237-49