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Joan Robinson

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For the British author and illustrator of children's books, see Joan G. Robinson. For the American socialite and equestrian, see Joan Robinson Hill.

Joan Violet Robinson FBA (née Maurice; 31 October 1903 – 5 August 1983) was a British economist known for her wide-ranging contributions to economic theory. One of the most prominent economists of the century, Joan Robinson incarnated the "Cambridge School" in most of its guises in the 20th century. She started out as a Marshallian; became, after 1936, one of the earliest and most ardent Keynesians; and ended up as a leader of the Neo-Ricardian and Post-Keynesian schools.

Joan Robinson
Robinson in 1973
Born
Joan Violet Maurice

(1903-10-31)31 October 1903
Surrey, England
Died5 August 1983(1983-08-05) (aged 79)
Cambridge, England
Academic career
FieldMonetary economics
School or
tradition		Post-Keynesian economics
InfluencesAdam Smith, Karl Marx, John Maynard Keynes, Piero Sraffa, Michał Kalecki
ContributionsJoan Robinson's growth model
Amoroso–Robinson relation
Monopsony theory

Early life and education edit

Before leaving to fight in the Second Boer War, Joan's father, Frederick Maurice, married Margaret Helen Marsh, the daughter of Frederick Howard Marsh, and the sister of Edward Marsh, at St George's, Hanover Square.[1] Joan Violet Maurice was born in 1903, a year after her father's return from Africa, the third of five siblings.[2]

Joan Maurice studied economics at Girton College, Cambridge.[3] She completed her studies in 1925 but due the Cambridge University's refusal to grant degrees to women until 1948, she did not formally graduate. Following her marriage to economist Austin Robinson the next year, became known as Joan Robinson.[2]

The couple moved to India shortly after their marriage where Joan Robinson became interested in the relations between the British Raj and the Indian princely states and wrote a report on the subject. This time in India was a formative experience on Robinson, shaping her future research interest in both the country and her studies of developing economies.[2] In 1928, the couple returned to Cambridge and Robinson started teaching in the early 1930s as a Junior Assistant Lecturer.[4]

Career edit

Robinson crossed swords with the economist Marjorie Hollond, Girton's director of studies, over the teaching of economics. Robinson wanted to teach the latest economic theories whereas Hollond believed that they were as yet unproven.[5] In 1937, Robinson became a lecturer in economics at the University of Cambridge.[6] She joined the British Academy in 1958 and was elected a fellow of Newnham College in 1962. In 1965 she assumed the position of full professor and fellow of Girton College. In 1979, just four years before she died, she became the first female honorary fellow of King's College.[7]

As a member of "the Cambridge School" of economics, Robinson contributed to the support and exposition of Keynes' General Theory, writing especially on its employment implications in 1936 and 1937 (it attempted to explain employment dynamics in the midst of the Great Depression).

During World War II, Robinson worked on a few different Committees for the wartime national government. During this time, she visited the Soviet Union as well as China, gaining an interest in underdeveloped and developing nations.

Robinson was a frequent visitor to Centre for Development Studies (CDS), Thiruvananthapuram, India. She was a visiting fellow at the Centre in the mid-1970s.[8] She instituted an endowment fund to support public lectures at the centre. She was a frequent visitor to the centre until January 1982 and participated in all activities of the centre and especially student seminars. Professor Robinson donated royalties of two of her books (Selected Economic Writings, Bombay: Oxford University Press, 1974, Introduction to Modern Economics (jointly with John Eatwell), Delhi; Tata McGraw Hill, 1974) to CDS.

Robinson also made several trips to China, reporting her observations and analyses in China: An Economic Perspective (1958), The Cultural Revolution in China (1969), and Economic Management in China (1975; 3rd edn, 1976), in which she praised the Cultural Revolution. In October 1964, Robinson also visited North Korea, which was effectively a single-party Communist state, and wrote in her report "Korean Miracle" that the country's success was due to "the intense concentration of the Koreans on national pride" under Kim Il Sung, "a messiah rather than a dictator."[9] She also stated in reference to the division of Korea that "[o]bviously, sooner or later the country must be reunited by absorbing the South into socialism."[10] During her last decade, she became more and more pessimistic about the possibilities of reforming economic theory, as expressed, for example, in her essay "Spring Cleaning."[11]

Robinson was a strict vegetarian. She slept in a small unheated hut at the bottom of her garden all year round.[12]

Works edit

 
Joan Robinson in the 1920s

In 1933, her book The Economics of Imperfect Competition, Robinson coined the term "monopsony", which is used to describe the buyer converse of a seller monopoly. Monopsony is commonly applied to buyers of labour, where the employer has wage setting power that allows it to exercise Pigouvian exploitation[13] and pay workers less than their marginal productivity. Robinson used monopsony to describe the wage gap between women and men workers of equal productivity.[14]

In 1942, Robinson's An Essay on Marxian Economics famously concentrated on Karl Marx as an economist, helping to revive the debate on this aspect of his legacy.

In 1956, Robinson published her magnum opus, The Accumulation of Capital, which extended Keynesianism into the long run.

In 1962, she published Essays in the Theory of Economic Growth, another book on growth theory, which discussed Golden Age growth paths. Afterwards, she developed the Cambridge growth theory with Nicholas Kaldor. She was elected a Foreign Honorary Member of the American Academy of Arts and Sciences in 1964.[15]

In 1964 she made important contributions to the field of economic methodology. She explored the philosophical foundations of economic analysis in her influential book Economic Philosophy, criticizing traditional methodological approaches and arguing in favor of a more diverse and interdisciplinary approach to economics. She promoted a more practical and historically informed approach that considers the social and institutional environment within which economic phenomena occur.

In 1984, Robinson was elected to the American Philosophical Society.[16]

Near the end of her life, she studied and concentrated on methodological problems in economics and tried to recover the original message of Keynes' General Theory. Between 1962 and 1980, she wrote many economics books for the general public. Robinson suggested developing an alternative to the revival of classical economics.

The Cultural Revolution in China is written from the perspective of trying to understand the thinking that lay behind the revolution, particularly Mao Zedong's preoccupations. Mao is seen as aiming to recapture a revolutionary sense in a population that had known only, or had grown used to, stable Communism, so that it could "re-educate the Party" (pp. 20, 27); to instill a realisation that the people needed the guidance of the Party as much as the other way round (p. 20); to re-educate intellectuals who failed to see that their role in society, like that of all other groups, was to 'Serve the People' (pp. 33, 43); and finally to secure a succession, not stage-managed by the Party hierarchy or even by Mao himself but the product of interaction between a revitalised people and a revitalised Party (p. 26).

On the whole, the book emphasises the positive aspects of Mao's "moderate and humane" intentions (p. 19) rather than the "violence and disorder" that broke out, we are told, "from time to time", occurrences "strongly opposed" (ibid.) to Mao's wishes. Robinson recognises and appears to endorse a revision to classical Marxism in Mao's view of the relation of base to superstructure: "On the classical view, there is one-way determination between base and superstructure but Mao shows how the superstructure may react upon the base: Ideas may become a material force" (p. 12). She acknowledges that "Old-fashioned Marxists might regard this as a heresy, but that is scarcely reasonable" (ibid.).

In June 2019, the United States Supreme Court used Robinson's monopsony theory in its decision for Apple v. Pepper.[17] Justice Brett Kavanaugh delivered the majority opinion, stating Apple can be sued by application developers, "on a monopsony theory."[17]

Achievements edit

In 1945, she was appointed to the Ministry of Works' Advisory Committee on Building Research, the only economist and the only female member of that committee.[18]

In 1948, she was appointed the first economist member of the Monopolies and Mergers Commission.[19]

In 1949, she was invited by Ragnar Frisch to become the vice-president of the Econometric Society but declined by saying she that could not be part of the editorial committee of a journal that she could not read. [citation needed]

During the 1960s, she was a major participant in the Cambridge capital controversy alongside Piero Sraffa.

At least two students who studied under her have won the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel; they are Amartya Sen[20] and Joseph Stiglitz.[21] In his autobiographical notes for the Nobel Foundation, Stiglitz described their relationship as "tumultuous" and Robinson as unused to "the kind of questioning stance of a brash American student"; after a term, Stiglitz therefore "switched to Frank Hahn".[22] In his own autobiography notes, Sen described Robinson as "totally brilliant but vigorously intolerant."[23]

She also influenced Indian Prime Minister Manmohan Singh which altered his approach towards economic policies.

Discussion surrounding the Nobel Prize edit

Robinson never received a Nobel Prize for her contribution to economics. She was widely anticipated to receive the prize for Economics in 1975, and Rachel Reeves described her as 'the most famous economist not to be awarded the Nobel Prize'.[24][25] Of all 93 recipients of the Nobel Prize in Economic Science, only 10 winners have been cited more widely than Robinson.[26] It is widely assumed that the committee's oversight of Robinson was due to her outspoken support of Mao's economic policies in China, but others have argued this is instead due to sexism within the awarding committee.[27][28]

Family edit

Robinson's father was Frederick Maurice, her mother was Margaret Helen Marsh. The distinguished London surgeon and Cambridge academic Howard Marsh was Joan Robinson's maternal grandfather.

Joan Maurice married fellow economist Austin Robinson in 1926.[29] They had two daughters, Ann and Barbara.[2][29]

Recognition edit

 
Joan Robinson's blue plaque.

In 2016, the Council of the University of Cambridge approved the use of Robinson's name to mark a physical feature within the North West Cambridge Development.[30]

In April 2024, a blue plaque was erected in Kensington Gardens, London, to honour Robinson's life and work. English Heritage, the awarding organisation, described her as 'one of the first women to achieve academic prominence in the discipline of economics'.[31][2][32]

The economics society of Girton College, Cambridge is named the Joan Robinson Society.[33]

Major works edit

  • The Economics of Imperfect Competition (1933)
  • Essays in the Theory of Employment (1937)
  • An Essay on Marxian Economics (1942), Second Edition (1966) (The Macmillan Press Ltd, ISBN 0-333-05800-3)
  • "The Production Function and the Theory of Capital", The Review of Economic Studies (1953)
  • The Accumulation of Capital (1956)
  • Exercises in Economic Analysis (1960)
  • Essays in the Theory of Economic Growth (1962)
  • Economic Philosophy: An Essay on the Progress of Economic Thought (1962)
  • Freedom and Necessity: An Introduction to the Study of Society (1970)
  • Economic Heresies: Some Old Fashioned Questions in Economic Theory (1971) (Basic Books, New York, ISBN 0-465-01786-X)
  • Contributions to Modern Economics (1978) (Basil Blackwell, Oxford, ISBN 0-631-19220-4)
  • Further Contributions to Modern Economics (1980) (Basil Blackwell, Oxford, ISBN 0-631-12624-4)

Texts for the lay reader edit

  • Economics Is a Serious Subject: The Apologia of an Economist to the Mathematician, the Scientist and the Plain Man (1932), W. Heffer & Sons
  • Introduction to the Theory of Employment (1937)
  • The Cultural Revolution in China, Harmondsworth: Pelican Original (1969)
  • An Introduction to Modern Economics (1973) with John Eatwell
  • The Arms Race (1981), Tanner Lectures on Human Values

See also edit

References edit

  1. ^ Register of Marriages for St George's, Hanover Square, January–March 1899, volume 1a, p. 618.
  2. ^ a b c d e "Joan Robinson | economist | blue plaques". English Heritage. Retrieved 11 April 2024.
  3. ^ Arenson, Karen W. (11 August 1983). "Prof. Joan Robinson Dies at 79; Cambrdige (sic) University Economist". The New York Times. ISSN 0362-4331. Retrieved 16 October 2019.
  4. ^ "Robinson, Joan Violet (1903–1983) - Keir Armstrong". carleton.ca. Retrieved 9 April 2024.
  5. ^ Turner, Marjorie Shepherd (5 July 2017). Joan Robinson and the Americans. Routledge. ISBN 978-1-351-56166-2.
  6. ^ Administrator (30 April 2018). "From the History of the Faculty". www.econ.cam.ac.uk. Archived from the original on 19 May 2019. Retrieved 16 October 2019.
  7. ^ Saith, Ashwani (1 November 2008). "Joan Robinson and Indian Planning: An Awkward Relationship". Development and Change. 39 (6): 1115–1134. doi:10.1111/j.1467-7660.2008.00531.x. ISSN 1467-7660.
  8. ^ "Centre For Development Studies". Archived from the original on 7 May 2019. Retrieved 16 October 2019.
  9. ^ Heonik Kwon; Byung-Ho Chung (12 March 2012). North Korea: Beyond Charismatic Politics. Rowman & Littlefield Publishers. pp. 151–152. ISBN 978-1-4422-1577-1.
  10. ^ Harcourt, Geoffrey Colin (2006). The Structure of Post-Keynesian Economics. Cambridge University Press. p. 92. ISBN 9780765637017. Retrieved 31 December 2010.
  11. ^ Harcourt, p. 169.
  12. ^ "Robinson née Maurice, Joan Violet". oxforddnb.com. Retrieved 14 January 2023.
  13. ^ Joseph Persky and Herbert Tsang (February 1974). "Pigouvian Exploitation of Labor". The Review of Economics and Statistics. 56 (1): 52–57. doi:10.2307/1927526. JSTOR 1927526.
  14. ^ "Notes on Monopsony Model of Gender Wage Gaps" (PDF). Archived (PDF) from the original on 3 February 2014. Retrieved 1 February 2014.
  15. ^ "Book of Members, 1780–2010: Chapter R" (PDF). American Academy of Arts and Sciences. Archived (PDF) from the original on 13 June 2011. Retrieved 22 July 2014.
  16. ^ "APS Member History". search.amphilsoc.org. Retrieved 25 May 2022.
  17. ^ a b Rosalsky, Greg (18 June 2019). "Apple's Scary Buying Power And The Woman Who Named It". NPR.org. Retrieved 2 July 2019.
  18. ^ "Advisory Committee on Building Research". Nature. 155 (3941): 570. 12 May 1945. Bibcode:1945Natur.155S.570.. doi:10.1038/155570c0. S2CID 4140121.
  19. ^ Stephen Wilks, In the Public Interest: Competition Policy and the Monopolies and Mergers Commission, p. 93.
  20. ^ Nasar, Sylvia (15 October 1998). "Indian Wins Nobel Award In Economics". The New York Times. ISSN 0362-4331. Retrieved 16 October 2019.
  21. ^ V, Lokanathan (2018). A History of Economic Thought, 10th Edition. S. Chand Publishing. ISBN 9789352533374.
  22. ^ Stiglitz, Joseph E. "Autobiography" Archived 31 May 2013 at the Wayback Machine, Nobel Foundation, Stockholm, December 2002. Retrieved on 8 May 2012.
  23. ^ Sen, Amartya "Autobiography" Archived 16 June 2013 at the Wayback Machine, Nobel Foundation, Stockholm, 1998. Retrieved on 8 May 2012.
  24. ^ "Robinson, Joan Violet (1903–1983) - Keir Armstrong". carleton.ca. Retrieved 9 April 2024.
  25. ^ Reeves, Rachel (2023). The Women Who Made Modern Economics. Hachette UK. ISBN 9781399807470.
  26. ^ "How the sexist 'Nobel Prize' in economics has warped the world - Prime". primeeconomics.org. 26 September 2019. Retrieved 10 April 2024.
  27. ^ "Joan Violet Robinson". Econlib. Retrieved 9 April 2024.
  28. ^ "How the sexist 'Nobel Prize' in economics has warped the world - Prime". primeeconomics.org. 26 September 2019. Retrieved 10 April 2024.
  29. ^ a b Who's who 1958. London: Adam & Charles Black limited. 1958.
  30. ^ Administrator (29 January 2015). "Street Naming". www.nwcambridge.co.uk. Archived from the original on 9 March 2017. Retrieved 8 March 2017.
  31. ^ "Record number of women to be celebrated with English Heritage blue plaques in 2024". English Heritage. Retrieved 9 April 2024.
  32. ^ "Joan Robinson: Economist remembered with blue plaque in Notting Hill". BBC News. 11 April 2024. Retrieved 11 April 2024.
  33. ^ "Subject societies". Girton College. Retrieved 9 April 2024.

Further reading edit

  • Emani, Zohreh, 2000, "Joan Robinson" in Robert W. Dimand et al. (eds), A Biographical Dictionary of Women Economists, Edward Elgar.
  • Harcourt, G. C., 1995, Obituary: Joan Robinson 1903–1983, Economic Journal, Vol. 105, No. 432. (September 1995), pp. 1228–1243.
  • Harcourt, G. C. and Kerr, P. (2009). Joan Robinson. Palgrave MacMillan.
  • Pasinetti, Luigi L. (1987), "Robinson, Joan Violet," The New Palgrave: A Dictionary of Economics, v. 4, pp. 212–17, Macmillan.
  • Vianello, F. [1996], "Joan Robinson on Normal Prices (and the Normal rate of Profits)", in: Marcuzzo, M.C. and Pasinetti, L. and Roncaglia, A. (eds.), The Economics of Joan Robinson, New York: Routledge, ISBN 978-0415136167.

External links edit

 
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