THOMAS ROBERT MALTHUS John Maynard Keynes, Essays in Biography, 1933 I
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Toward Liberalism: Politics, Poverty, and the Emotions in the 1790S Peter Denney Griffith University
Toward Liberalism: Politics, Poverty, and the Emotions in the 1790s Peter Denney Griffith University I n the volatile atmosphere of the mid-1840s, the leading exponent of Victorian liber- alism, John Stuart Mill, published an essay in the Edinburgh Review in which he rejected the assumption that political economy encompassed a “hard-hearted, unfeeling” approach Ito the question of poverty.1 Entitled “The Claims of Labour,” a major purpose of the essay was to advocate self-help as the key to improving the condition of the laboring classes. According to Mill, the promotion of self-help was an urgent matter, for there had been a revival of the belief that the situation of the poor could be ameliorated either by charity or by the redistribution of property. It was as if people had forgotten the population theory of Thomas Robert Malthus, who, beginning in the late 1790s, argued that such schemes exacerbated the problem of poverty by discouraging the laboring classes from developing qualities like restraint and industriousness that were crucial not just to their improvement but to their survival. Radical and conservative critics alike condemned Malthus both for the bleakness of his theory and for the cold, calcu- lating attitude it seemed to endorse. While understanding such criticism, Mill dismissed these detractors as the “sentimental enemies of political economy.”2 At the same time, he insisted that political economy was compatible with sympathy, if not with sentimentality. If interpreted cor- rectly, it generated a view of the poor that mixed empirical observations with positive emotions, producing a sense of optimism regarding the future of the laboring classes. -
1. the Damnation of Economics
Notes 1. The Damnation of Economics 1. One example of vice-regal patronage of anti-economics is Canada’s ‘Governor General’s Award for Non-Fiction’. In 1995 this honour was bestowed upon John Raulston Saul’s anti-economic polemic The Unconscious Civilization (published in 1996). A taste of Saul’s wisdom: ‘Over the last quarter-century economics has raised itself to the level of a scientific profession and more or less foisted a Nobel Prize in its own honour onto the Nobel committee thanks to annual financing from a bank. Yet over the same 25 years, economics has been spectacularly unsuc- cessful in its attempts to apply its models and theories to the reality of our civili- sation’ (Saul 1996, p. 4). See Pusey (1991) and Cox (1995) for examples of patronage of anti-economics by Research Councils and Broadcasting Corporations. 2. Another example of economists’ ‘stillness’: the economists of 1860 did not join the numerous editorial rebukes of Ruskin’s anti-economics tracts (Anthony, 1983). 3. The anti-economist is not to be contrasted with the economist. An economist (that is, a person with a specialist knowledge of economics) may be an anti- economist. The true obverse of anti-economist is ‘philo-economist’: someone who holds that economics is a boon. 4. One may think of economics as a disease (as the anti-economist does), or one may think of economics as diseased. Mark Blaug: ‘Modern economics is “sick” . To para- phrase the title of a popular British musical: “No Reality, Please. We’re Economists”’ (Blaug 1998, p. -
Economic Theory, Politics and the State in the Neoliberal Epoch
Economic Theory, Politics and the State in the Neoliberal Epoch Stahl, Rune Møller Document Version Submitted manuscript Publication date: 2018 Citation for published version (APA): Stahl, R. M. (2018). Economic Theory, Politics and the State in the Neoliberal Epoch. Department of Political Science, University of Copenhagen. Ph.d.-serien Link to publication in CBS Research Portal General rights Copyright and moral rights for the publications made accessible in the public portal are retained by the authors and/or other copyright owners and it is a condition of accessing publications that users recognise and abide by the legal requirements associated with these rights. Take down policy If you believe that this document breaches copyright please contact us ([email protected]) providing details, and we will remove access to the work immediately and investigate your claim. Download date: 30. Sep. 2021 ECONOMIC THEORY, POLITICS AND THE STATE IN THE NEOLIBERAL EPOCH Rune Møller Stahl Department of Political Science Faculty of Social Sciences University of Copenhagen This thesis is submitted for the degree of Doctor of Philosophy January 2018 CONTENT Acknowledgements ..................................................................................................................................................... 3 Thesis Framework ............................................................................................................................... 5 Introduction ................................................................................................................................................................ -
The Malthusian Economy
The Malthusian Economy Economics 210a January 18, 2012 • Clark’s point of departure is the observation that the average person was no better off in 1800 than in 100,000 BC. – As Clark puts it on p.1. of his book, “Life expectancy was no higher in 1800 than for hunter-gatherers.” – Something changed after that of course. But this is for later in the course….. 2 • Clark’s point of departure is the observation that the average person was no better off in 1800 than in 100,000 BC. – How could he possibly know this? 3 Various forms of evidence, but first and foremost that on heights • There is little sign in modern populations of any genetically determined differences in potential stature, except for some rare groups such as the pygmies of Central Africa. • But nutrition does influence height. • In addition to the direct impact of nutrition on human development, episodes of ill health during growth phases can stop growth, and the body catches up only partially later on. And nutrition is an important determinant of childhood health. • As Clark puts it, “stature, a measure of both the quality of diet and of children’s exposure to disease, was [as high or] higher in the Stone Age than in 1800.” – This is a pretty striking observation. How are we to understand it? 4 The standard framework for doing so is the Malthusian model • Thomas Robert Malthus was born into a wealthy family in 1766, educated at Cambridge, and became a professor at Cambridge and eventually an Anglican parson. • His students referred to him as Pop Malthus (“Pop” for population). -
David Ricardo. Life, Original Ideas and the Greek Translation of His Works
DAVID RICARDO: LIFE, ORIGINAL IDEAS AND THE GREEK TRANSLATIONS OF HIS WORKS Manolis Spathis [email protected] David Ricardo was born in 1772 in London. His family was rich and his father was a banker. David Ricardo’s relations with his family were deeply hurt when he was baptized Christian while his family were Jewish. Before his 25th year of age, Ricardo already had the reputation of a millionaire and a great banker. After he had accumulate a satisfying fortune he was not interested in stock market that much. In his mid 20s he had a complete shift in his lifestyle, he dropped the stock market, bought a piece of land and got occupied educating himself. He studied math and physics, he even built a laboratory and collected stones. A couple later he had already been impressed and inspired by Adam Smith’s book An Inquiry into the Nature and Causes of the Wealth of Nations. This was a period of great turbulence and instability for the British economy due to the long-lasting war with France. This fact boosted the discussion over economics and caused a great deal of tensions between the people affected by the rapid devaluation of the banknotes and the skyrocketing of grain prices. In 1809, ten years after Ricardo’s initial decision to engage with economics, he published a brochure under the title On the High Price of Bullion, introducing a quantitative theory of money and suggesting the withdrawal of a certain amount of money in order to restore its value compared to gold. -
Thomas Malthus and the Making of the Modern World
THOMAS MALTHUS AND THE MAKING OF THE MODERN WORLD Alan Macfarlane 1 CONTENTS Acknowledgements 3 References, Conventions and Measures 3 Preface 4 The Encounter with Malthus 5 Thomas Malthus and his Theory 12 Part 1: Malthus (1963-1978) Population Crisis: Anthropology’s Failure 15 Resources and Population 23 Modes of Reproduction 40 Part 2: Malthus and Marriage (1979-1990) Charles Darwin and Thomas Malthus 44 The Importance of Malthusian Marriage 57 The Malthusian Marriage System and its Origins 68 The Malthusian Marriage System in Perspective 76 Part 3: Malthus and Death (1993-2007) The Malthusian Trap 95 Design and Chance 107 Epilogue: Malthus today 124 Bibliography 131 2 ACKNOWLEDGEMENTS My work on Malthus over the years has been inspired by many friends and teachers. It is impossible to name them all, but I would like to pay especial tribute to Jack Goody, John Hajnal, Keith Hopkins, Peter Laslett, Chris Langford, Roger Schofield Richard Smith and Tony Wrigley, who have all helped in numerous ways. Other acknowledgements are made in the footnotes. Gabriel Andrade helpfully commented on several of the chapters. As always, my greatest debts are to Gerry Martin, with whom I often discussed the Malthusian Trap, and to Sarah Harrison who has always encouraged my interest in population and witnessed its effects with me in the Himalayas. REFERENCES, CONVENTIONS AND MEASURES Spelling has not been modernized. American spelling (e.g. labor for labour) has usually been changed to the English variant. Italics in quotations are in the original, unless otherwise indicated. Variant spellings in quotations have not been corrected. -
Revisiting a Definition Toward the Meaning of the New Political Economy
International Journal of Innovation, Creativity and Change. www.ijicc.net Volume 10, Issue 10, 2020 The Meaning of Political Economy: Revisiting a Definition toward the Meaning of the New Political Economy Mohd Syakir Mohd Rosdia*, Richard Jacksonb, aCenter for Islamic Development Management Studies, 11800 Universiti Sains Malaysia, Penang, Malaysia, bNational Centre for Peace and Conflict Studies, University of Otago, New Zealand, Email: a*[email protected]/[email protected] The aim of this article is to examine the meaning of political economy. Although it is clearly defined, scholars throughout history have been challenged to distinguish the science of political economy and the sciences of economics and politics as separate disciplines. There are two problems. Firstly, we need to recognize accurately the scholars in political economy. Secondly, there has been a clash of ideas as many scholars built a framework of understanding in political economy. Many scholars mixed their ideas to build a specific framework of meaning of political economy. Some scholars approached political economy from an economic perspective, others from a political perspective. Based on a literature review and textual analysis, this paper will re-evaluate the meaning of political economy that recognises the need to focus on both the definition and the history of the field. It can be difficult to recognize the contribution of economic scholars such as Smith and Ricardo or political scholars such as Marx in the field of political economy. However, it has been established that they contributed to an ideology that developed the understanding of classical political economy. Adjusting for a political scholars’ perspective and economical scholars’ perspective, the pathway from the classical political economy into the new political economy is still to infer the meaning of political economy. -
History of Economics Economics 481/820 David M
History of Economics Economics 481/820 David M. Levy 7 Carow Hall (Tu Th 2pm) Virtual Office [email protected] COURSE GOAL The focus of the class is to examine the historical foundations of modern economics while being open to the possibility that there are old pieces of knowledge that have been forgotten by modern economists. This semester’s theme is “witnessed world, modelled world.” The high points in literature include Plato’s Republic and Adam Smith’s books. REQUIRED TEXTS Adam Smith, Moral Sentiments and Wealth of Nations Glasgow editions T. R. Malthus, Population, edited by Donald Winch. David Ricardo, Principles of Political Economy, edited by P Sraffa J S Mill Principles of Political Economy edited by J Robson Sandra Peart and David Levy, “The Vanity of the Philosopher” Lord Robbins’ Lectures (ed) Samuels and Medema On reserve: Levy Economic Ideas of Ordinary People and How the Dismal Science Got its Name Levy, Peart–Levy and Levy–Peart offprints usually available by PDF GRADES 1) Weekly puzzles and problems(100 points) 2) Midterm exam (100 points) 3) Term Paper (200 points) 4) Final exam on all the material (200 points) The paper’s topic needs to be in writing by me. It cannot be on a text discussed in class unless the point is show that the instructor is wrong. The GRADUATE version of the class requires that the paper be presented in class. Undergrads can apply for this. 1 Schedule Week 1. Tools and Texts. Why is Bastiat important? Models for a world of witnesses? http://bastiat.org/en/twisatwins.html#broken_window http://www.econlib.org/library/Bastiat/basSoph4.html#I.18.12 Preview: Stoic models and Adam Smith’s witnesses Levy and Peart, Hume & Smith on race & national character [handout] Weeks 2. -
English Marginalism
Department of Economics Working Paper Series English Marginalism John Creedy September 2010 Research Paper Number 1109 ISSN: 0819‐2642 ISBN: 978 0 7340 4462 4 Department of Economics The University of Melbourne Parkville VIC 3010 www.economics.unimelb.edu.au English Marginalism∗ John Creedy The University of Melbourne ∗This article is forthcoming in G. Faccarello and H.D. Kurz (eds.) Handbook of the History of Economic Thought:Volume2Schools of Thought in Economics. Cheltenham: Edward Elgar. I am grateful to Denis O’Brien for comments on an earlier version. 1 The term ‘English marginalism’ generally refers to the work and outlook of a small group of economists working in England in roughly the last quarter of the 19th century. These may be thought of as pioneer neoclassical economists and include, as major figures, Jevons, Marshall, Edgeworth and Wicksteed.1 Edgeworth was Anglo- Irish, and Jevons developed his earliest ideas in Australia, but it is obviously appro- priate to group them under English marginalism. Distinctions along such national lines are of course not necessarily solid, particularly as, following the lead set by Jevons, this period can be regarded as the ‘high period’ in the international exchange of ideas. And as Hutchison (1955, p. 9) stated, ‘Edgeworth, Wicksteed, Auspitz and Lieben, Wieser, Bohm-Bawerk, Wicksell, Walras, Pareto, Barone and Fisher all drew on a broad, internationally known literature’. Important and original works were, ‘constructed essentially on the basis of a wide, eclectic, cosmopolitan reading of their contemporaries and immediate predecessors’ (Hutchison, 1955, p. 9).2 Nevertheless, it is possible to discern differences, in views and influences, between English and continental writers during this period. -
Finance and Class in the Marginalist Revolution Yair Kaldor*
Downloaded from https://academic.oup.com/ser/advance-article-abstract/doi/10.1093/soceco/mwy043/5238113 by Ben Gurion University of the Negev-Medical Library user on 28 July 2019 Socio-Economic Review, 2018, Vol. 0, No. 0, 1–19 doi: 10.1093/soceco/mwy043 Article Article The cultural foundations of economic categories: finance and class in the marginalist revolution Yair Kaldor* Department of Sociology, University of Wisconsin-Madison, Madison, WI, USA *Correspondence: [email protected] Abstract Economic categories are part of the everyday concepts people use to apprehend social reality. While scholars recognize their importance for social and economic processes, it is not clear how these categories develop when reality itself changes. I address this issue with a framework that incorporates a cultural emphasis on meaning-making with a macro-structural analysis of the conditions in which they take place. I apply this framework to the marginalist revolution of the late 19th century, which marks the birth of neoclassical economics and focus on the new understanding of ‘value’ that emerged during this period. I trace it to the rise of finance and the problem of price fluctuations, and show how its class standpoint helps explain the different outcomes of the marginalist revolution in England, Austria and France. The analysis provides insights into the power of economic ideas and the cultural dimension of structural changes. Key words: economic categories, culture, finance, value, neoclassical economics, economic sociology JEL classification: B History of Economic Thought, N2 History of Financial Markets and Institutions, N1 Macroeconomic and Monetary History 1. Introduction The basic categories of economics appear as self-evident and are hardly in need of explana- tion. -
8. David Ricardo and Classical Economics Robert L
Section XIV: The ndusI trial Revolution, Classical Contemporary Civilization (Ideas and Institutions Economics, and Economic Liberalism of Western Man) 1958 8. David Ricardo and Classical Economics Robert L. Bloom Gettysburg College Basil L. Crapster Gettysburg College Harold L. Dunkelberger Gettysburg College See next page for additional authors Follow this and additional works at: https://cupola.gettysburg.edu/contemporary_sec14 Part of the Economic History Commons, Economic Theory Commons, and the Growth and Development Commons Share feedback about the accessibility of this item. Bloom, Robert L. et al. "8. David Ricardo and Classical Economics. Pt XIV: The ndusI trial Revolution, Classical Economics, and Economic Liberalism." Ideas and Institutions of Western Man (Gettysburg College, 1958), 37-49. This is the publisher's version of the work. This publication appears in Gettysburg College's institutional repository by permission of the copyright owner for personal use, not for redistribution. Cupola permanent link: https://cupola.gettysburg.edu/ contemporary_sec14/8 This open access book chapter is brought to you by The uC pola: Scholarship at Gettysburg College. It has been accepted for inclusion by an authorized administrator of The uC pola. For more information, please contact [email protected]. 8. David Ricardo and Classical Economics Abstract It is David Ricardo, (1772-1823) rather than Malthus who has long been regarded as the more outstanding of the classical economists after Adam Smith. His father was a Jewish immigrant to England who became a prosperous merchant and broker. Ricardo entered his father's business, but after marrying a Quakeress and embracing her faith was forced onto his own resources. -
Ideological Profiles of the Economics Laureates · Econ Journal Watch
Discuss this article at Journaltalk: http://journaltalk.net/articles/5811 ECON JOURNAL WATCH 10(3) September 2013: 255-682 Ideological Profiles of the Economics Laureates LINK TO ABSTRACT This document contains ideological profiles of the 71 Nobel laureates in economics, 1969–2012. It is the chief part of the project called “Ideological Migration of the Economics Laureates,” presented in the September 2013 issue of Econ Journal Watch. A formal table of contents for this document begins on the next page. The document can also be navigated by clicking on a laureate’s name in the table below to jump to his or her profile (and at the bottom of every page there is a link back to this navigation table). Navigation Table Akerlof Allais Arrow Aumann Becker Buchanan Coase Debreu Diamond Engle Fogel Friedman Frisch Granger Haavelmo Harsanyi Hayek Heckman Hicks Hurwicz Kahneman Kantorovich Klein Koopmans Krugman Kuznets Kydland Leontief Lewis Lucas Markowitz Maskin McFadden Meade Merton Miller Mirrlees Modigliani Mortensen Mundell Myerson Myrdal Nash North Ohlin Ostrom Phelps Pissarides Prescott Roth Samuelson Sargent Schelling Scholes Schultz Selten Sen Shapley Sharpe Simon Sims Smith Solow Spence Stigler Stiglitz Stone Tinbergen Tobin Vickrey Williamson jump to navigation table 255 VOLUME 10, NUMBER 3, SEPTEMBER 2013 ECON JOURNAL WATCH George A. Akerlof by Daniel B. Klein, Ryan Daza, and Hannah Mead 258-264 Maurice Allais by Daniel B. Klein, Ryan Daza, and Hannah Mead 264-267 Kenneth J. Arrow by Daniel B. Klein 268-281 Robert J. Aumann by Daniel B. Klein, Ryan Daza, and Hannah Mead 281-284 Gary S. Becker by Daniel B.