Keynesian Comparative Economics: The Iconoclastic Vision of Lynn Turgeon (1920-1999)

19 Pages Posted: 11 Sep 2006 Last revised: 19 Oct 2009

See all articles by Timothy A. Canova

Timothy A. Canova

Nova Southeastern University Shepard Broad Law Center

Richard P.F Holt

Southern Oregon University

J. Barkley Rosser, Jr.

James Madison University - Economics Program

Marina V. Rosser

James Madison University - College of Business

Robert N Horn

James Madison University

Abstract

The authors of this article review the late E. Lynn Turgeon's contributions to economics, including his studies of the Soviet economy, use of qualitative and demographic analyses, his Keynesian critique of U.S. economic performance, and his critique of international financial markets. Turgeon's comparative approach led to unique insights about the challenges that confronted planned economies, including the differential impact of military spending on the demand-constrained economy of the United States and the supply-constrained economy of the Soviet Union. His study of the Soviet and planned economies also informed his analysis of the U.S. economy and international adjustment mechanisms. Turgeon argued for expansionary fiscal and neutral monetary policies, prudential restrictions on portfolio capital flows, and increased foreign direct investment and foreign assistance to shift the burdens of adjustment from deficit to surplus countries. Throughout his career, Turgeon measured economic policies by their effects on real people, including impacts on employment, the environment, living standards, and distributions of income and wealth.

Keywords: Keynesian Economics, Comparative Economics, International Monetary Fund, Capitalist Development, World Bank

JEL Classification: B20, E12, E40, E50, E60, F30, N20, P10, E42, F32

Suggested Citation

Canova, Timothy A. and Holt, Richard P.F and Rosser, Jr., J. Barkley and Rosser, Marina V. and Horn, Robert N, Keynesian Comparative Economics: The Iconoclastic Vision of Lynn Turgeon (1920-1999). American Journal of Economics and Sociology, Vol. 62, No. 3, p. 491, 2003 , Chapman University Law Research Paper No. 08-70, Available at SSRN: https://ssrn.com/abstract=929196

Timothy A. Canova (Contact Author)

Nova Southeastern University Shepard Broad Law Center ( email )

3305 College Avenue
Ft. Lauderdale, FL 33314
United States

Richard P.F Holt

Southern Oregon University ( email )

1250 Siskiyou Boulevard
Ashland, OR 97520-5022
United States

J. Barkley Rosser, Jr.

James Madison University - Economics Program ( email )

United States
540-568-3212 (Phone)
540-568-3010 (Fax)

Marina V. Rosser

James Madison University - College of Business ( email )

Harrisonburg, VA 22807
United States

Robert N Horn

James Madison University ( email )

Harrisonburg, VA 22807
5405683219 (Phone)
5405673010 (Fax)

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