J.B. Condliffe and the early Canterbury tradition in economics

Abstract

Sir James Hight's teaching had a significant influence on the development of economics as a discipline at Canterbury University College; he emphasised applied economics and the place of economists in policy debate. The Canterbury economists were enthusiastic reformers devoted to applied research. Tocker adopted an orthodox English classical monetary view of the business cycle. In absorbing some Cambridge, neoclassical trade cycle and monetary theory, Condliffe and Belshaw had come, by 1930, to realise that there was no automatic stabiliser in the cycle although they did not recommend a package of macroeconomic stabilisation policies. On international economic problems Condliffe remained loyal to the liberal trade policy stance of English classical political economy. However, he rejected the gold standard and added numerous qualifications for the small open economy case.

Notes

An earlier version of this paper was submitted in October 1990. Lewis Evans, who was then editor, continued in the capacity of editor for this paper until the final version was accepted by him in May 1991. I am grateful to the Bancroft Library, University of California, Berkeley, for permission to quote from the Condliffe Papers, in particular, the unpublished ‘Autobiography’. Without ascribing responsibility, I also acknowledge assistance from members of the Condliffe family, J.D.K. North, and comments on an earlier version of this paper provided by B. Easton, G. Fleming, G.R. Hawke, participants in the session on “history of economic thought and policy’ at the 1990 Conference of the New Zealand Association of Economists and the journal's referees.