chapter  Six
15 Pages

How Economics Changed in England and America

The world depression and the political upheavals it brought had set in motion a widespread migration of economists moving from Eastern and continental Europe to England and the United States. In spite of some efforts on the part of Joan Robinson and Sraffa to gain a position for Kalecki, he was not invited to remain permanently at Cambridge. In part because of the continental influence of these immigrants, postwar American economics absorbed the European equilibrium theory and econometrics in addition to Keynesian economics, all in varying degrees of lumpiness. Methodological differences lay dormant during World War II, but after the war the American influence with a preference for mathematical methodology in economics ascended to new heights, in step with the United States' political influence. Both in England and North America, the number of economists increased dramatically. This was due in part to the high prestige gained by economists in government service during the war.