description Joan Robinson Overview
Joan Robinson was a prominent British economist who lived from 1903 to 1983 and was closely associated with the University of Cambridge. In 1933, she published "The Economics of Imperfect Competition," a foundational text that introduced new analytical tools for understanding markets between monopoly and perfect competition. Robinson later became a leading post-Keynesian economist, known for her critiques of neoclassical capital theory and her influential work on growth and development economics. She was also the first woman to become a full professor at the Faculty of Economics at Cambridge.
insights Ranking position
Joan Robinson ranks #122 of 253 in the Economist ranking, behind Raghuram Rajan, ahead of Emi Nakamura.
help Joan Robinson FAQ
What was Joan Robinson's most famous contribution to economics?
Joan Robinson published "The Economics of Imperfect Competition" in 1933, which introduced new analytical tools for understanding market structures. This foundational text remains a core part of microeconomic theory today.
Was Joan Robinson part of John Maynard Keynes's inner circle?
Yes, she was closely associated with the University of Cambridge and was an active participant in the "Cambridge Circus." This group of economists worked closely with John Maynard Keynes to refine the theories presented in his "General Theory."
Why didn't Joan Robinson ever win the Nobel Prize in Economics?
Despite being one of the most prominent economists of the 20th century, Joan Robinson never won the Nobel Memorial Prize in Economic Sciences before her death in 1983. Many historians believe her fierce criticisms of neoclassical economics kept her from the award.
What is the Robinson-Amoroso equation?
The Robinson-Amoroso equation in microeconomics is named partly after Joan Robinson, stemming from her work on imperfect competition. It mathematically demonstrates the relationship between the marginal physical product of labor and the real wage under monopsony conditions.
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