Richard G. Lipsey (1928–)

  • Max SteuerEmail author


Richard Lipsey has had a wide-ranging career as a researcher, a teacher, a textbook author and participant in matters of economic policy. In all of these, technical facility is used to enhance understanding of economic matters and not for its own sake. His approach is not to simply go with the flow, but to think carefully about the nature and practice of economic enquiry. Lipsey combines a practical focus of investigation with a lifelong concern with methodology. His passionate belief in the importance of economic understanding makes him an engaging and stimulating colleague. In his years at LSE and after, Lipsey created and continues to create a special intellectual environment and to be a part of it is both a pleasure and of great benefit.


Economic methodology General theory of the second best Long-term economic growth International trade policy Climate policy Positive economics Economics education 


Main Works by Richard G. Lipsey

  1. Archibald, G.C. and R.G. Lipsey (1958). ‘Monetary and Value Theory: A Critique of Lange and Patinkin’. Review of Economic Studies, 26(1): 1–22.CrossRefGoogle Scholar
  2. Archibald, G.C and R.G. Lipsey (1960). ‘Monetary and Value Theory: Further Comment’. Review of Economic Studies, 28(1): 50–56.CrossRefGoogle Scholar
  3. Archibald, G.C. and R.G. Lipsey (1967). An Introduction to a Mathematical Treatment of Economics. London: Weidenfeld & Nicolson. Third edition, 1977. American adaptation, Harper & Row, 1976. Translations into Italian, Japanese, Portuguese and Spanish.Google Scholar
  4. Brechling, F.P.R. and R.G. Lipsey (1963). ‘Trade Credit and Monetary Policy’. Economic Journal, 73(292): 618–641.CrossRefGoogle Scholar
  5. Eaton, B.C. and R.G. Lipsey (1997). On the Foundations of Monopolistic Competition and Economic Geography: The Selected Essays of B. Curtis Eaton and R.G. Lipsey. Cheltenham: Edward Elgar.Google Scholar
  6. Lancaster, K. and R.G. Lipsey (1959). ‘McManus on Second Best’. Review of Economic Studies, 26(3): 225–226.CrossRefGoogle Scholar
  7. Lipsey, R.G. (1957a). ‘Mr. Gehrels on Customs Unions’. Review of Economic Studies, 24(3): 211–214.CrossRefGoogle Scholar
  8. Lipsey, R.G. (1957b). ‘The Theory of Customs Unions: Trade Diversion and Welfare’. Economica, New Series, 24(93): 40–46.CrossRefGoogle Scholar
  9. Lipsey, R.G. (1960a). ‘The Relation Between Unemployment and the Rate of Change of Money Wage Rates in the United Kingdom, 1862–1957: A Further Analysis’. Economica, New Series, 27(105): 1–31.CrossRefGoogle Scholar
  10. Lipsey, R.G. (1960b). ‘Does Money Always Depreciate?’. Lloyds Bank Review, 58(October): 1–13.Google Scholar
  11. Lipsey, R.G. (1960c). ‘The Theory of Customs Unions: A General Survey’. Economic Journal, 70(279): 496–513.CrossRefGoogle Scholar
  12. Lipsey, R.G. (1961). ‘Is Inflation Explosive?’. The Banker, 111(October): 2–12.Google Scholar
  13. Lipsey, R.G. (1962). ‘Can There Be a Valid Theory of Wages?’. Advancement of Science, 19: 105–112. Text of the Lister Lecture delivered at the Norwich meeting of the British Association for the Advancement of Science (1961).Google Scholar
  14. Lipsey, R.G. (1963). An Introduction to Positive Economics. London: Weidenfeld & Nicolson.Google Scholar
  15. Lipsey, R.G. (1964). ‘Positive Economics in Relation to Some Current Trends’. Journal of the Economics Association, 5(Spring): 365–371.Google Scholar
  16. Lipsey, R.G. (1972). ‘The Foundations of the Theory of National Income: An Investigation of Some Fundamental Errors’. In B.A. Corry and M.H. Peston (eds) Essays in Honour of Lionel Robbins. London: Weidenfeld & Nicolson: 3–42.Google Scholar
  17. Lipsey, R.G. (1997). ‘An Intellectual Autobiography’. Introduction to Macroeconomic Theory and Policy: The Selected Essays of Richard G. Lipsey. Volume 2. Cheltenham: Edward Elgar: ix–xxxvii.Google Scholar
  18. Lipsey, R.G. (2001). ‘Successes and Failures in the Transformation of Economics’. Journal of Economic Methodology, 8(2): 169–201.CrossRefGoogle Scholar
  19. Lipsey, R.G. (2005). ‘The Social Sciences and Humanities Research Council Gold Medal Award (March 2005)’. Available at:
  20. Lipsey, R.G. (2007). ‘Reflections on the General Theory of Second Best at Its Golden Jubilee’. International Tax and Public Finance, 14(4): 349–364.CrossRefGoogle Scholar
  21. Lipsey, R.G. (2009). ‘Some Legacies of Robbins’ An Essay on the Nature and Significance of Economic Science’. Economica, New Series, 76(Supplement 1): 845–856.CrossRefGoogle Scholar
  22. Lipsey, R.G. (2017). ‘“Economic Policies With and Without Maximising Rules”. In Symposium on Theories of Second Best, and Third Best and Their Application’. Pacific Economic Review, 22(2): 189–212.CrossRefGoogle Scholar
  23. Lipsey, R.G., K.I. Carlaw and C.T. Bekar (2005). Economic Transformations: General Purpose Technologies and Long-Term Economic Growth. Oxford: Oxford University Press.Google Scholar
  24. Lipsey, R.G. and K. Lancaster (1956). ‘The General Theory of Second Best’. Review of Economic Studies, 24(1): 11–32.CrossRefGoogle Scholar
  25. Lipsey, R.G. and M.D. Steuer (1961). ‘The Relation Between Profits and Wage Rates’. Economica, New Series, 28(110): 137–155.CrossRefGoogle Scholar

Other Works Referred To

  1. Archibald, G.C. (1961). ‘Chamberlin versus Chicago’. Review of Economic Studies, 29(1): 2–28.CrossRefGoogle Scholar
  2. Friedman, M. (1953). ‘The Methodology of Positive Economics’. In Essays in Positive Economics. Chicago: University of Chicago Press: 3–43.Google Scholar
  3. Piketty, T. (2014). Capital in the Twenty-First Century. Translated by Arthur Goldhammer. Cambridge, MA: Harvard University Press.Google Scholar
  4. Steuer, M. (1969). American Capital and Free Trade: Effects of Integration. London: Atlantic Trade Study.Google Scholar
  5. Steuer, M. (2010). ‘The Partially Private UK System for Air Traffic Control’. Journal of Air Transport Management, 16(1): 26–35.CrossRefGoogle Scholar
  6. Steuer, M. (2012). ‘Views from the Sharp End: The Future of Finance: The LSE Report by Adair Turner et. al.’. Economica, New Series, 79(314): 411–417.CrossRefGoogle Scholar
  7. Steuer, M. (2015). ‘A Much Needed Wake-Up Call’. Economica, New Series, 82(325): 189–192.CrossRefGoogle Scholar
  8. Steuer, M., P. Abell and H. Wynn (2015). ‘Head-Hunter Methods for CEO Selection’. Journal of General Management, 41(1): 3–24.CrossRefGoogle Scholar

Copyright information

© The Author(s) 2018

Authors and Affiliations

  1. 1.Centre for Philosophy of Natural and Social Science, London School of EconomicsUniversity of LondonLondonUK

Personalised recommendations