Joan Robinson in Economics - Essay Example

This paper will look at some of her contributions, and how they impact the lives of modern economists presently.

One of the main contributions by Joan Robinson to economics was made in monetary economics. In this contribution, it is believed that Robinson showed a deep understanding of the complexities that face the financial world. In her works in monetary economics, she provided the world, and especially developing worlds, with a comprehensive and original analysis of the links that envelop the macroeconomy and the financial system (Thomas 34). Economists and people studying the economy can learn a lot about money, finance, and the credit system that is present in every economy. The structure of interest rates is described in most of her works which allows even the most average of the person(s) to comprehend the nature of the financial system, hence; become better at dealing with money and the financial sector.

In another area, she is attributed to starting a battle against neoclassical economics. In this war, it is believed that Robinson led people to understand microeconomics and the functioning of the capital theories that existed. The reason why she decided to start this was because of how the much younger economists in the region could alter their models to suit the political desires and moods present in the different regions. In this contribution to the field of economics, Robinson led people into understanding the Keynes school of thought by trying to bring out the aspect of employment during the Great Depression in the 1930s (Aslanbeigui and Oakes 46). She immersed herself in the works of Keynes, bringing to life Keynes’s General Theory despite having had success in her previously done works.

Lastly, it would be worthwhile to mention that Robinson’s love for economics led to the origin of countless books that discuss the nature and standing of the world’s economies. It was this love that saw her achieve or get recognition and criticism in equal measure. Her stand on some of the issues that pertained to economics made her a force in the field, which made her find friends and enemies in all areas of the field. Her books gave a certain conviction to the undeniable truth that an overall different approach to understanding economics was possible (Aslanbeigui and Oakes 54). This is compared to the traditional approaches that her predecessors opted to use, which led to the different wars that she fought.

In conclusion, the field of economics has seen the coming up of different individuals who possess different ideas and theories that are present in every economy. It would be wrong not to identify some of the players who played a complementary role in the development and expansion of some of these theories. In this case, Joan Robinson should be awarded a lifetime achievement award for being a player that had every other individual looking for ways to prove their theory right. It is such insight that economists must have to make an impact in economic settings that require confidence to succeed (Bettio and Verashchagina 67). Read More