Murray Milgate
Encyclopedia
Murray Milgate is an Australian-born academic economist and Fellow and Director of Studies in Economics at Queens' College in the University of Cambridge
. He is the co-creator and co-editor of the celebrated original edition of The New Palgrave Dictionary of Economics (1987) together with John Eatwell and Peter Newman
.
and the University of Cambridge
where he taught economics before moving to Harvard University
in 1984. He returned to Cambridge in 1996. He is best known for his contributions to the dissemination of economic knowledge through his New Palgrave activities and his published writings that focus on exploring: (1) the relation between classical economic theory and Keynesian economics
as an alternative to standard neoclassical
thinking about the market mechanism
; (2) the history of nineteenth-century political economy. An assessment of aspects of the first set of contributions can be found in Dutt and Amadeo's Keynes's Third Alternative. In 1992 Milgate shared the Eccles Prize for Excellence in Economic Writing (from Columbia University Business School) for the New Palgrave Dictionary of Money and Finance and in 1995 The New Palgrave World of Economics was named among the 100 most influential books since WW2 by the CEEPP at the University of Oxford. In 2011 his After Adam Smith was awarded the David and Elaine Spitz Prize
for the best book on liberal and democratic theory by the International Conference for the Study of Political Thought. He was a Visiting Professor at the University of California at Berkeley (1992)and has been a Distinguished Visiting Professor of Economics at Osaka Gakuin University in Japan since 2008. He is a founding editor of the journal Contributions to Political Economy.
Keynes's Economics and the Theory of Value and Distribution. London: Duckworth and New York: Oxford University Press. 1983. (With John Eatwell).
The New Palgrave: A Dictionary of Economics. Four volumes. London: Macmillan. 1987. (With John Eatwell and Peter Newman). Paperback edition: 1998.
Critical Issues in Social Thought. London and New York: Academic Press. 1989. (With Cheryl B. Welch).
Ricardian Politics. Princeton: Princeton University Press. 1991. (With Shannon C. Stimson).
The New Palgrave Dictionary of Money and Finance. Three volumes. London: Macmillan. 1992. (With Peter Newman and John Eatwell).
After Adam Smith: A Century of Transformation in Politics and Political Economy. Princeton: Princeton University Press. 2009. (With Shannon C. Stimson). Paperback edition: 2011.
The Fall and Rise of Keynesian Economics. Oxford & New York: Oxford University Press. 2011. (With John Eatwell).
University of Cambridge
The University of Cambridge is a public research university located in Cambridge, United Kingdom. It is the second-oldest university in both the United Kingdom and the English-speaking world , and the seventh-oldest globally...
. He is the co-creator and co-editor of the celebrated original edition of The New Palgrave Dictionary of Economics (1987) together with John Eatwell and Peter Newman
Peter Kenneth Newman
Peter Kenneth Newman was an English economist and historian of economic thought. He helped to edit The New Palgrave: A Dictionary of Economics, to which he contributed several articles.-External reference:*...
.
Biography
Milgate was educated at the University of SydneyUniversity of Sydney
The University of Sydney is a public university located in Sydney, New South Wales. The main campus spreads across the suburbs of Camperdown and Darlington on the southwestern outskirts of the Sydney CBD. Founded in 1850, it is the oldest university in Australia and Oceania...
and the University of Cambridge
University of Cambridge
The University of Cambridge is a public research university located in Cambridge, United Kingdom. It is the second-oldest university in both the United Kingdom and the English-speaking world , and the seventh-oldest globally...
where he taught economics before moving to Harvard University
Harvard University
Harvard University is a private Ivy League university located in Cambridge, Massachusetts, United States, established in 1636 by the Massachusetts legislature. Harvard is the oldest institution of higher learning in the United States and the first corporation chartered in the country...
in 1984. He returned to Cambridge in 1996. He is best known for his contributions to the dissemination of economic knowledge through his New Palgrave activities and his published writings that focus on exploring: (1) the relation between classical economic theory and Keynesian economics
Keynesian economics
Keynesian economics is a school of macroeconomic thought based on the ideas of 20th-century English economist John Maynard Keynes.Keynesian economics argues that private sector decisions sometimes lead to inefficient macroeconomic outcomes and, therefore, advocates active policy responses by the...
as an alternative to standard neoclassical
Neoclassical economics
Neoclassical economics is a term variously used for approaches to economics focusing on the determination of prices, outputs, and income distributions in markets through supply and demand, often mediated through a hypothesized maximization of utility by income-constrained individuals and of profits...
thinking about the market mechanism
Market mechanism
Market mechanism is a term from economics referring to the use of money exchanged by buyers and sellers with an open and understood system of value and time trade offs to produce the best distribution of goods and services...
; (2) the history of nineteenth-century political economy. An assessment of aspects of the first set of contributions can be found in Dutt and Amadeo's Keynes's Third Alternative. In 1992 Milgate shared the Eccles Prize for Excellence in Economic Writing (from Columbia University Business School) for the New Palgrave Dictionary of Money and Finance and in 1995 The New Palgrave World of Economics was named among the 100 most influential books since WW2 by the CEEPP at the University of Oxford. In 2011 his After Adam Smith was awarded the David and Elaine Spitz Prize
Spitz Prize
The David and Elaine Spitz Prize is an award for a book in liberal and/or democratic theory.It is awarded annually by a panel based in the Department of Political Science of Columbia University, for the best book in the field published two years earlier...
for the best book on liberal and democratic theory by the International Conference for the Study of Political Thought. He was a Visiting Professor at the University of California at Berkeley (1992)and has been a Distinguished Visiting Professor of Economics at Osaka Gakuin University in Japan since 2008. He is a founding editor of the journal Contributions to Political Economy.
Major Works
Capital and Employment. London and New York: Academic Press. 1982.Keynes's Economics and the Theory of Value and Distribution. London: Duckworth and New York: Oxford University Press. 1983. (With John Eatwell).
The New Palgrave: A Dictionary of Economics. Four volumes. London: Macmillan. 1987. (With John Eatwell and Peter Newman). Paperback edition: 1998.
Critical Issues in Social Thought. London and New York: Academic Press. 1989. (With Cheryl B. Welch).
Ricardian Politics. Princeton: Princeton University Press. 1991. (With Shannon C. Stimson).
The New Palgrave Dictionary of Money and Finance. Three volumes. London: Macmillan. 1992. (With Peter Newman and John Eatwell).
After Adam Smith: A Century of Transformation in Politics and Political Economy. Princeton: Princeton University Press. 2009. (With Shannon C. Stimson). Paperback edition: 2011.
The Fall and Rise of Keynesian Economics. Oxford & New York: Oxford University Press. 2011. (With John Eatwell).