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Encyclopedia > Cambridge Circus

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CAMBRIDGE KEYNESIANS (486 words)
Strictly, the "Cambridge Keynesians" is a loose term used to refer to the unique group of British economists inspired by John Maynard Keynes's General Theory in a more "fundamentalist" way than the American Neo-Keynesians.
Their origin stems from the inner circle, the five members of Keynes's "Circus" at Cambridge -- Joan Robinson, Richard Kahn, Piero Sraffa, Austin Robinson and James Meade -- got together to read Keynes's Treatise soon after it appeared in 1930 and thereafter commented on the successive drafts of the General Theory before it was published.
The Robinson-Kaldor growth theory and the Cambridge Capital Controversy galvanized a new generation of "Cambridge Keynesians" -- such as Luigi Pasinetti, Piero Garegnani, John Eatwell, Geoff Harcourt -- to initiate the "Neo-Ricardian" research program, an attempt at an explicit marriage of Keynesian theory of effective demand and the Ricardian theory of value.
Circus (143 words)
A public equipped space for shows and other spectacles of the Classical period (e.g., in ancient Rome, the Circus Maximus); the term derives from the circular shape of the first arenas in which, mostly, horse and biga (two-horse chariot) races were run.
In town planning, an open space, usually circular, where a number of roads meet, such as Oxford Circus, Cambridge Circus and Piccadilly Circus in London, or "The Circus in Bath.
Circus is a genus of harriers, a type of bird of prey.
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