The Writings of Robert L. Heilbroner (As of 28 January 1992)

The Writings of Robert L. Heilbroner (as of 28 January 1992)

(each category in order of publication)

Books and Pamphlets

The Worldly Philosophers (New York: Simon & Schuster, 1952) revised editions, 1961, 1967, 1972, 1980, 1986, 1992 (update). The Quest for Wealth (New York: Simon & Schuster, 1956). The Future as History (New York: Harper & Bros., 1959, 1960). The Making of Economic Society (Englewood Cliffs, New Jersey: Prentice Hall, 1962) revised editions, 1968, 1970, 1972, 1975, 1980, 1985, 1989, 1992 (forthcoming). The Great Ascent (New York: Harper & Row, 1963). A Primer on Government Spending (with Peter L. Bernstein) (New York: Ran• dom House, 1963) revised edition, 1970. The Limits of American Capitalism (New York: Harper & Row, 1965, 1966). Automation in the Perspective of Long-Term Technological Change, US Depart• ment of Labour, 1966 (pamphlet). Understanding Macroeconomics (Englewood Cliffs, NJ: Prentice Hall, 1965) revised editions, 1968, 1972; (with Lester Thurow) 1975, 1978, 1981, 1984; (with James Galbraith) 1987, 1989. Understanding Microeconomics (Englewood Cliffs, NJ: Prentice Hall, 1968) revised edition, 1972; (with Lester Thurow) 1975, 1978, 1981, 1984; (with James Galbraith) 1987, 1989. The Economic Problem (Englewood Cliffs, NJ: Prentice Hall, 1968) revised editions, 1970, 1972; (with Lester Thurow) 1975, 1978, 1981, 1984; (with James Galbraith) 1987, 1989. Between Capitalism and Socialism (New York: Random House, 1970). Business Civilization in Decline (New York: W. W. Norton & Co., 1976). An Inquiry into The Human Prospect (New York: W. W. Norton & Co., 1974) revised editions, 1980, 1991. The Economic Transformation of America (with Aaron Singer) (New York: Harcourt Brace Jovanovich, 1976) revised edition, 1984. Beyond Boom and Crash (New York: W. W. Norton & Co., 1978). Marxism: For and Against (New York: W. W. Norton & Co., 1980). Five Economic Challenges (with Lester Thurow) (Englewood Cliffs, NJ: Prentice Hall, 1981). Economics Explained (with Lester Thurow) (New York: Simon & Schuster, 1982) revised editions, 1987, 1993 (forthcoming).

377 378 The Writings of Robert L. Heilbroner

The Nature and Logic of Capitalism (New York: W. W. Norton & Co., 1985). The Act of Work, Library of Congress, Washington, 1985. The Essential Adam Smith (with Laurence J. Malone) (New York: W. W. Norton, 1986; also London: Oxford University Press, 1986). Behind the Veil of Economics (New York: W. W. Norton & Co., 1988). The Debt and the Deficit: False Alarms, Real Possibilities (with Peter Bernstein) (New York: W. W. Norton, 1989).

Edited books

Economic Means and Social Ends: Essays in Political Economics (Englewood Cliffs, NJ: Prentice Hall, 1969). In the Name of Profit (Garden City, NY: Doubleday, 1972). Corporate Social Policy: Selections from Business and Society Review (with Paul London) (Reading, Mass.: Addison-Wesley Publishing, 1972). Is Economics Relevant? (with Arthur Ford) (Pacific Palisades, Cal.: Goodyear Publishing Co., Inc., 1971) revised edition, 1976.

Essays in books (partial listing)

'The American Poor', Man and Modern Society, K. De Schweinitz and K. W. Thompson (eds) (New York: Holt, 1953). 'Communicating Economic Research: As a Writer Sees It', Report on the Confer• ence on Communicating Economic Research (Hanover, New Hampshire: Amos Tuck School, 1957). 'The Impact of Technology', Automation and Technological Change (American Assembly, Englewoods Cliffs, NJ: Prentice Hall, 1962). 'The View from the Top: Reflections on a Changing Business Ideology', The Business Establishment, E. Cheit (ed.) (New York: Wiley & Sons, 1964). 'Which Goals for the Future?', Manpower Policies for Youth, National Commit• tee on Employment of Youth, E. Cohen and L. Kapp (eds) (New York: Columbia University Press, 1966). 'Counter-revolutionary America', A Dissenter's Guide to Foreign Irving Howe (ed.) (New York: Praeger, 1968) and 'Rebuttal', op. cit. 'On the Limited Relevance of Economics', Capitalism Today, Daniel Bell and Irving Kristol (eds) (New York: Basic Books, 1971). 'The Roots of Social Neglect in the United States', Is Law Dead?, E. V. Rostow (ed.) (New York: Simon & Schuster, 1971). 'Do Machines Make History?' Technology and Culture, M. Kranzberg and W. H. Davenport (eds) (New York: Schocken Books, 1972). Also reprinted in (See listing under ''Technological Determinism Revisited", below). 'Adam Smith', Encyclopedia Britannica, 1974. 'Economic Systems', Encyclopedia Britannica, 1991. 'The Paradox of Progress: Decline and Decay in the Wealth of Nations', Essays The Writings of Robert L. Heilbroner 379

on Adam Smith, A. S. Skinner and T. Wilson, (eds) (New York: Oxford, 1975, 1976). 'Was Schumpeter Right?', Schumpeter's Vision, A. Heertje (ed.) (New York: Praeger, 1981). 'What is Socialism?', Beyond the Welfare State, Irving Howe (ed.) (New York: Schocken, 1982). 'John D. Rockefeller', Historical Viewpoints, John Garraty (ed.) (New York: Harper & Row, 1983). 'Capitalism as Gestalt: A Contrast of Visions', Free Market Conservatism, Edward Nell (ed.) (London: George Allen & Unwin, 1984). 'The Nature and Logic of Capitalism According to Adam Smith', Beschaftigung, Verteilung und Konjunctur (Festschrift fiir Adolph Lowe, Bremen: Universita Bremen, 1984). 'Economics and Political Economy: Marx, Keynes, and Schumpeter', Marx, Schumpeter and Keynes, Suzanne Helburn and David Bramhall (eds) (Armonk, NY: M. E. Sharpe, 1986). 'Realities and Appearances in Capitalism', Corporations and the Common Good, Robert B. Dickie and Leroy S. Rouner (eds) (Notre Dame, Ind.: University of Notre Dame Press, 1986). 'Wealth', The New Palgrave, John Eatwell, Murray Milgate, and Peter Newman (eds) (New York and London: Macmillan, 1988). 'Capitalism', The New Palgrave, supra cit. 'Rhetoric and Ideology', The Consequences of Economic Rhetoric, Klamer, McCloskey and Solow (eds) (New York: Cambridge University Press, 1988). 'Economics as Ideology', Economics as Discourse, Warren Samuels (ed.) (Bos• ton: Kluwer, 1990). 'Economic Systems', Encyclopedia Britannica, (1991). 'Socialism', The Fortune Encyclopedia of Economics, David Henderson (ed.) 1993 (forthcoming). 'The Future of Capitalism', in Sea-Changes: American Foreign Policy in a World Transformed, Nicolas X. Rizopoulos (ed.) (New York: Council on Foreign Relations Press, 1990). 'Technological Determinism Revisited', in a book edited by Merrit Roe Smith, MIT Press, forthcoming. 'The Economic View of Progress', in The Idea of Progress Revisited, Leo Marx and Bruce Mazlish (eds), (forthcoming).

Articles

(partial listing, not including shorter, miscellaneous articles in The Commercial and Financial Chronicle (1946); in American Business Magazine (1946-1950); and on the OpEd page of the New York Times, 1980-1991; also in Challenge, The Nation, The New School Commentator, The New York Times business section and special supplements, other). 380 The Writings of Robert L. Heilbroner

'Saving and Investment: Dynamic Aspects', American Economic Review, De• cember 1942. 'Labour Unrest in the British Nationalized Sector', Social Research, March, 1952. 'Epitaph for the Steel Master', American Heritage, August 1960. 'The Revolution of Economic Development', American Scholar, Autumn, 1962. 'The Share-the-Tax Revenue Plan', New York Times Sunday Magazine, Decem- ber 27, 1964. 'Is Economic Theory Possible?', Social Research, Summer, 1966. 'Rhetoric and Reality in the Struggle Between Business and the State', Social Research, Autumn, 1968. 'The Multinational Corporation and the Nation State', New York Review, Febru• ary 11, 1971. 'A Radical View of Socialism', Social Research, Spring, 1972. 'Ecological 'Balance' and the 'Stationary' State (with Jack Allentuck), Land Economics, August 1972. 'Growth and Survival', Foreign Affairs, October 1972. 'The Paradox of Progress: Decline and Decay in the Wealth of Nations', Journal of the History of Ideas, April 1973. 'Economic Problems of a 'Post-Industrial' Society', Dissent, Spring 1973. 'Economics as a 'Value Free' Science', Social Research, Spring 1973. 'The Clouded Crystal Ball', American Economic Association, Papers and Pro• ceedings, May 1974. 'What Is The Human Prospect?', New York Review, January 24, 1976. 'Marxism, Psychoanalysis and the Problem of a Unified Theory of Behaviour', Social Research, Autumn,l975. 'Homage to Adam Smith', Challenge, March-April, 1976. 'Boom and Crash', The New Yorker, August 28, 1976. 'Middle Class Myths; Middle Class Realities', Atlantic, October, 1976. 'Inescapable Marx', New York Review, June 29, 1978. 'Modern Economics as a Chapter in the History of Economic Thought', History of Political Economy, Vol. 11, No.2, 1979; also included in Mark Blaug (ed.) The Historiography of Economics (London: Elgar, 1991). 'Inflationary Capitalism', The New Yorker, October 8, 1979. 'Adolph Lowe', Journal of Economic Issues, June 1980. 'The Demand for the Supply Side', New York Review, June 11, 1981. 'The Socialization of the Individual in Adam Smith', History ofPolitical Economy, Vol. 2, 1982. 'The Problem of Value in the Constitution of Economic Thought', Social Re• search, Summer 1983. 'Economic Prospects', The New Yorker, August 29, 1983 (first prize, Gerald R. Loeb Awards for Distinguished Financial and Business Journalism). 'Perceptions and Misperceptions: How Economists and the Public See Economics -and Each Other', Journal of Economic and Monetary Affairs, Middlebury, The Writings of Robert L. Hei/broner 381

Vt., International Institute for Economic Advancement, July 1987. 'Hard Times', New Yorker, September, 1987 (first prize, Gerald R. Loeb A wards). 'The Coming Meltdown of Traditional Capitalism', Ethics and International Affairs, No. 2, 1988. 'The Deficit', New York Times, September 4, 1988. 'The Triumph of Capitalism', The New Yorker, Sept. 23, 1989. 'Rereading the Affluent Society', Journal of Economic Issues, Fall, 1989. 'Seize the Day', New York Review of Books, Feb. 15, 1990. 'After Communism', New Yorker, Sept. 10, 1990. 'Rethinking the Past, Re-hoping the Future', Social Research, Fall, 1990. 'The World After Communism', Dissent, Fall, 1990 (adapted in Harper's, Jan. 1991). 'Analysis and Vision in the History of Modem Economic Thought', J. Econ. Lit., Sept., 1990. 'Economics as Universal Science', Social Research, Summer, 1991. 'Economic Predictions', New Yorker, July 22, 1991. 'Thoughts on The Triumph of Capitalism', The American Prospect, Fall, 1991. 'Lifting the Silent Depression', New York Review of Books, October 23, 1991. 'Thedeficit', Nation, Jan. 27, 1992.

Reviews and Review Articles (partial listing by author and volume, not by title of review)

Joseph Schumpeter, History of Economic Analysis, The Nation, n.d. (1953). Edmund Stillman and William Pfaff, The Politics of Hysteria, New York Review, Feb. 20, 1964. Kenneth Boulding, The Meaning of the 20th Century, Book Week, January 17, 1965. Seymour Melman, Pentagon Capitalism, New York Review, July 23, 1970. W. W. Rostow, Politics and the Stages of Growth, New York Times Book Review, August I, 1971. Bertell Oilman, Alienation: Marx's Conception of Man in Capitalist Society, and Walter Weisskopf, Alienation and Economics, New York Review, March 9, 1972. 'Radical Economics: A Review Essay', American Political Science Review, Sep• tember, 1972. Barrington Moore, Reflections in the Causes ofHuman Misery, New York Review, October 5, 1972. David P. Calleo and Benjamin Rowland, America and the World Political Economy, New York Review, November 29, 1973. Harry Braverman, Labour and Monopoly Capital, New York Review, January 23, 1975. 'Kenneth Boulding, Collected Papers: A Review Article', Journal of Economic Issues, March, 1975. 382· The Writings of Robert L. Heilbroner

Charles E. Lindblom, Politics and Markets, New York Times Book Review, February 19, 1978. Milton and Rose Friedman, Free to Choose: A Personal Statement, New York Review, April 17, 1980. Alfred Eichner, A Guide to Post Keynesian Economics, New York Review, Febru• ary 21, 1980. Albert Hirschman, Essays in Trespassing and Shifting Involvements, New York Review, June 24, 1982. Michael Piore and Charles Sabel, The Second Industrial Divide, New York Times Book Review, January 6, 1985. Guy Routh, Economics: An Alternative Text, Journal of Economic Literature, March, 1986. Donald N. McCloskey, The Rhetoric of Economics, New York Review, April 24, 1986. Robert Skidelsky, John Maynard Keynes, Vol. I, New York Times Book Review, May 11, 1986. Eli Sagan, At the Dawn of Tyranny, Monthly Review, September, 1986. John Kenneth Galbraith, Economics in Perspective, New York Review, November 5, 1987. Friedrich Hayek, The Fatal Conceit, The Nation, April, 1989. The New Palgrave: A Dictionary ofEconomics, (eds) John Eatwell, Peter Newman, and Murray Milgate, New York Review, March 3, 1988. Herbert Stein, Governing A $5 Trillion Dollar Economy, Challenge, Aug/Sept, 1989. Michael Harrington, Socialism, Past and Future, Dissent, Fall, 1989. John Donahue, The Privatization Decision, New York Times Book Review, Dec. 17, 1989. Alfred Chandler, Scale and Scope: The Dynamics of Industrial Capitalism, New York Review, October 11, 1990. Robert Kuttner, The End of Laissez-Faire, National Purpose and the Global Economy After the Cold War, Dissent, Summer, 1991. Patricia Werhane, Adam Smith and his Legacy for Modern Capitalism, Journal of Economic Studies, 1992 (forthcoming).

Interviews and Profiles (partial listing)

Business Week, September 30, 1972. Bill Moyers' Journal, WNET interview, April23, 1974. Science, August 16, 1974. Psychology Today, February, 1975. A Biographical Dictionary of Dissenting Economists, ed. Philip Arestis and Malcolm Sawyer (Edward Elgar, 1992). Hearings before the Subcommittee on the Environment, House of Representa• tives, Serial No. 93-55, pp. 33-51. The Writings of Robert L. Heilbroner 383

Current Biography, H. H. Wilson Co., June, 1976. World Authors, 1980-1985, H. H. Wilson Co., 1991 pp. 402-5. US News and World Report, March 8, 1976. Chronicle of Higher Education, October 16, 1978. Public Opinion, April/May, 1980. Challenge, October/November, 1982. Arnold Heertje, The U.S.A. in the World Economy (San Francisco, Freeman, Cooper & Co., 1984) pp. 58--67. Loren J. Okroi, Galbraith, Harrington, Heilbroner: Economics and Dissent in an Age of Optimism (Princeton, N.J., Princeton Univ. Press, 1988). New Perspectives Quarterly, Fall, 1989. Forbes Magazine, May 27, 1991. Index

absolutism,and equality Marx and249 245-6 and equality 249 abstinencenatural theoryhistory of 221,profits 232 341-2 natural history 221, 232 MarxSmith and and 343-4227-8 Smith and 227-8 Arkwright,surplus versus R. 331,349-53 333 Arkwright, R. 331, 333 abstractArrow, labourK. J. 6456, 65, 248-50 Arrow, K. J. 64 abundanceArtigiani, R.362-3 39 Artigiani, R. 39 accumulation,ascendancy capital40 2 ascendancy 40 Ashton,Heilbroner T. S. and 327, 5-6 328, 331 Ashton, T. S. 327, 328, 331 Asiamarkets 154-5 and 4, 9 Asia 154-5 Aspect,Marx A.342-9; 30 surplus versus Aspect, A. 30 atom,abstinence individuality 349-53 and 195, 195-6, atom, individuality and 195, 195-6, paradigms211-12 43 211-12 Austrianprofit and economics 336-9; inducement43, 55-6 to Austrian economics 43, 55-6 authenticinvest common339-42 life 256 authentic common life 256 automobilesee also capitalism; production investment 80, 94, 95, 100 automobile production 80, 94, 95, 100 acquiredautonomy characteristics, 253-5 inheritance autonomy 253-5 self-realization,of 34, 59-60, justice 63 and 259-66 self-realization, justice and 259-66 actionAyres, R. 78, 95, 101 Ayres, R. 78, 95, 101 classical individuality and 198-9 Babbage,purposeful C. 53-5333 Babbage, C. 333 Baldini,Smith J.214, P. 216-17,136 218-19 Baldini, J. P. 136 AdamBarbon, and N. Eve 205-7, 202-4 234 Barbon, N. 205-7, 234 adversityBarro, R. 237112-13 Barro, R. 112-13 AeschylusBartley, R. 201,139 233 Bartley, R. 139 AgamemnonBass, B. L. 65201, 233 Bass, B. L. 65 agriculturalBate, W. Jackson productivity 235 312-15, Bate, W. Jackson 235 Battalio,316-17 R. C. 25 Battalio, R. C. 25 Alchian,Becker, A.G. A.S. 25, 45,35, 5038 Becker, G. S. 25, 35, 38 Alic,behaviour J. A. 9026, 48-9 behaviour 26, 48-9 alienationsee also 254,neo-Darwinism 255, 366-9, 371 see also neo-Darwinism allocation,Belkin, D. political 357 356-8, 359 Belkin, D. 357 allocativeBentham, efficiency J. 209, 211-12,150-1 235 Bentham, J. 209, 211-12, 235 Althusser,Berger, S. L. 84242 Berger, S. 84 altruismBergson, 26,H. 6325 Bergson, H. 25 AmericanBerle, A. System151, 160of Manufactures 83 Berle, A. 151, 160 AnglicanBernheim, church D. B. 233113, 139 Bernheim, D. B. 113, 139 anthropology,Bernstein, P. philosophical107, 108, 109,see 120,121-2, Bernstein, P. 107, 108, 109, 120, 121-2, philosophical139 anthropology 139 appearancegovernment form spending relations 119-20271, 298, 301 government spending 119-20 exchangeinflation value141 and value 282-6, 300 inflation 141 Bhaskar,money andR. capital63 280-1 Bhaskar, R. 63 biogeneticuniversal circulationlaw 61 and capitalist biogenetic law 61 Birdzell,production L. E. 85290-6 Birdzell, L. E. 85 Arendt,Black, H.R. D.231 Collison 64 Black, R. D. Collison 64 AristotelianBlank, R. M. principle 167 of justice 266-7 Blank, R. M. 167 AristotleBlaug, M. 196-7,62, 344, 206, 345, 208, 348, 229, 350, 231, 353 Blaug, M. 62, 344, 345, 348, 350, 353 surplus232,237,366 343, 349 surplus 343, 349

384 Index 385

Blinder, A. S. 165, 167, 172 money first form of 271-2, 280-1 Bluestone, B. 170, 171-2, 321 specifically capitalist 271-6; body, individuality and 210 defining 272-3 Bohm, D. 30, 63 usurers' 271, 273, 277, 278 borrowing, deficits and 115-17, 130, capital budgeting 120, 122-3 139-40 capitalism 376 see also debt dependency democracy and 265 Boulding, K. E. 64 Heilbroner and see Heilbroner bourgeois society 247-8 Marx and see Marx Bowles, S. 101, 140, 142, 324 self-realization and 251, 258-9 Bradley, I. 319 Smith and 2 breakdown of trust 64 and state intervention 145-59; liberal Brown, C. 333 capitalism and growth 152-3; Brown, E. H. Phelps 323, 326 shrinking state and managed Brus, W. 356 capitalism 157-9; Thatcherism and Buchanan, A. 266 growth 155-6 budget constraints 30-1, 31-2 see also commodity budget deficits, US 107-38, 166 Came-Ross, D. S. 232 Eisner and 'real' 120-6 Carron Company 331-2 growth of Ill, 130-1, 165 Carter, J. 175 neo-Keynesianism and crowding Castellana, R. 267 out 114-20 cell-adhesion molecule (CAM) 65 new classical economics and Ricardian Chandler, A. D. 82, 101 equivalence 111-13 Charlesworth, D. 65 post-war economic performance Cherry, R. 43, 64, 140 110-11 China 335 structural change and 126-38; debt choice see preferences dependency 128-9; demand Chomsky, N. 65 stimulus 131-3; financial Christensen, P. P. 38 fragility 133-4; income Christian account of individuality redistribution 135-6; compared with classical account internationalization 129-30; 196-204,231,232, 233; monetary policy 134-5; adversity 237 stagnation 126-8 Locke 205 bureaucracies 362 Smith 213-29 passim business tax incentives 117-18 and Utilitarianism 209-13 Business Week Team 321 Churchill, W. S. 233 Buss, L. W. 64 circulation 4, 271, 280-1 defining capital 272-3 Cadell, W. 332 production and 278 Cairns, J. 47 universal 290-6, 296-7, 297, 300 Campbell, R. H. 331-2 Clark, N. 83 Cantillon, R. 325 class 191 capacities, innate 251-5 conflict 261, 263 see also autonomy; self-realization markets and 4-5, 190-1 capital Quesnay's Tableaux 306-7 accumulation see accumulation classical account of individuality 189 basic form and universal compared with Christian circulation 290-6 account 196-204, 231, 232, 233; consumption of 351-2 path to goodness 237 industrial 278 18th-century political economy 204-9 merchants' 269-71, 277, 278 Smith 213-29 passim 386 Index

classical economics 190--1, 191-2, 375 Cropsey, J. 372 division of labour 225-6 crowding out 114-20 Marx's critique of 367 cunning of reason 256 Smith and 193-4 customary consciousness 208 Coase, R. H. 45 cyclical deficits 120--1, 122, 123, 130--1 Coats, A. W. 333 cytoplasm 59 cognitive absolutism 245, 246 cognitive relativism 245 Daly, H. E. 38 Cohen, S. S. 90 Danziger, S. 165 Coleridge, S. T. 235 Darwin, C. 24, 34, 63 commerce see trade Darwinism 24-5, 62 commodification 366, 371 see also neo-Darwinism commodity, analysis of 269, 296-8 Dawkins, R. 34, 49 specifically capitalist 281-90; De Soto, H. 150, 157-8, 158, 160 universality 282-90, 296 DeBrunhoff, S. 298 universal circulation 290-6 debt dependency 109,115-17,128-9, see also capitalism 130, 133-4 commodity fetishism 369-70, 371 see also credit demand common interest 260, 261-2, 262-3 decline see stagnation Commons, J. R. 352, 353 decommodification 371 communism, justice and 244, 245-6, deficits, budget see budget deficits 255,261-3,266,267 demand competition 361 deficit as stimulus 120, 121; policy analysis and 17-18 weakened by structural technological advance 80--1 change 131-3 complex societies 358-60 growth and innovation 42 computer-based mechanization 76, 81, investment and 337-8, 340--1 81-2, 86-9, 99-100 Kaldor 317 and employment 89-98 Quesnay's Tableaux 310--15,317 computer-intensity 90, 101 stimulation by state 148-9 conflict demand management 163, 164-5 class 261 , 263 democracy 264-6 technological development 77-9 Demsetz, H. 45 tragic 200--1, 233 dependence, personal 266 congealed labour 286, 287-8 Depew, D. 25, 40, 47, 49, 50 consumer preferences 27, 35, 50--2, 361 Dertouzos, M. L. 100 consumer sovereignty 361-2 developing countries see Third World consumption development, evolution and 61 investment and 340--2,343-4,351-2 Dickey, L. 236, 238 Quesnay's Tableaux 307, 318, 320 discipline, labour 6, 330--3 surplus value and 274-5 dissipative structures 39, 64 continuity of production 80--1, 82-3 distribution 359 control of labour 6, 330--3 see also equality; income distribution Converse, P. E. 172 division of labour cost-benefit analysis 16-21 Marx 248, 260, 261, 265, 357 Costabile, L. 353 Smith 41-2, 190--1, 213, 220; Costrell, R. M. 89 individuality 224-6; pin craft manufacturing 76, 77-8, 100 factory 327-30 see also traditional industries DNA 34,48 credit demand 115-17, 130, 139-40 Dobb, M. 353 see also debt dependency Dobzhansky, T. 34 crisis of intervention 162 Dosi, G. 39, 42, 43, 44, 45, 51 see also state Douglas, P. H. 326 Index 387

Driesch, H. 50 entrepreneurship 3, 42-3 Duhring, E. 305 entropylaw 29-30,39,63,63-4 Duijn,J.J. van 43 environment 376 Dunlop, J. T. 168 human prospect 9-10 Dunn, J. 231, 238 neo-classical paradigm 50-2 neo-Darwinism 52-3 Eagly, R. V. 320 equality Eatwell, J. 62, 321 labour and 248-9 ecological economics 3~0 social ownership 370-1 economic policy US: economic policy for 182-4; decline of post-war US growth and 173-7; political consensus 163-9 planning for growth 177-82; post• for growth and equality 182-4 war policy consensus 163, 167-8; Edelman, G. M. 49-50, 65 socio-economic change in Edsall, T. B. 166, 169, 181 1980s 172-3 education see also income distribution individuality and 198, 232, 233 ethical relativism 245, 245-6 us 167, 168 European Community 156, 157 of workers 329 Eve and Adam 202-4 Edwards, R. 85, 89, 100-1 evil, good and 197, 199-200, 231-2 efficiency see also Christian account of allocative 150-1 individuality economic and technological evolution 28, 62 development 79 development and 61 management 151-2 irreversibility 41, 64 neo-classical paradigm 22-3 see also Darwinism; neo-Darwinism efficiency wage theory 322, 323-4, 330, exchange 290 331 Quesnay's Tableaux 307-9 Einaudi, L. 320 see also trade Eisner, R. 109, 130-l, 136, 139, 165 exchange value 282-6, 300 'real budget deficits' 120-6, 140 · exploitation 263-4 Eldredge, N. 64, 65 export orientation 153 electricity 85 Elster, J. 54, 267 Faber, M. 38 employment 171-2, 178-9 factories technological change and 75, 76-7, discipline 330-3 99-100; computer-based effect on workers 327-30 mechanization 89-98; industrial size increases 85-6 robots 95-8; recent structural factors of production 30-2, 37-41 trends 89-95 neo-classical paradigm 30-1, 37-9; see also high employment deficits fungibility 45-6 Empson, W. 234 neo-Darwinist paradigm 31-2, 40-1 endosomatic instruments 40-1 Fall, the 202-4 endowments, Quesnay's Tableaux Fanuc 87 and 307 Federal Reserve 134-5 Engels, F. 242, 261, 300, 319, 345 Fenn, J. B. 28-9 commodification 366 financial fragility 133-4 commodity fetishism 369-70 firm communist society 267, 356, 357, 362 Hobbesian 324 justice 243-4 neo-classical paradigm 27-8; 30-1, markets 356 46, 55;penormance 45 England 155, 338 Fischer, S. 127 Englis, K. 24 fitness function maximization 26, 32 388 Index

Gram,five-dollar H. day26 323-4 Gram, H. 26 Grasse,Flamm, P-P.K. 9647, 65 Grasse, P-P. 47, 65 Greatflexible Society/New manufacturing Deal systems consensus Great Society/New Deal consensus 163-9(FMS) 87 163-9 growthflexibility 81, 83, 84-5, 87-8, 101 growth Foley,Kaldor's V. laws333 316-17 Kaldor's laws 316-17 Ford,Marxian D. H. scenario 54 346-8 Marxian scenario 346-8 Ford,Quesnay's H. 323-4 Tableaux 310, Quesnay's Tableaux 310, 315, Ford 316-17;Motor Company industrial policy85 316-17; industrial policy 317-19 Fox,state S. interventionW. 49 and state intervention and 145, 152-7, fragility,158-9; financial liberal capitalism133-4 158-9; liberal capitalism in Third Frank,World R. 24152-3; Soviet World 152-3; Soviet 156-7; Frankena,Thatcherism W. K. 26615~; Thatcherism 15~; Third freedomWorld 369-70, 153-5 371 World 153-5 Freeman,transformational C. 75~. 4388 transformational 43 Freeman,US 161-84; R. B. 168,economic 169 policy for US 161-84; economic policy for Friedman,growth B. and M. equality114, 117-18, 182-4; 165 growth and equality 182-4; Friedman,M.economic theory15,16-17,19,20,65 173-7; equality economic theory 173-7; equality fungibilityand 163-4,of technique 173; equity, 4~. politics 55, 65 and 163-4, 173; equity, politics and 177-82; land and 177-82; land tenure 338; Gadamer,state andH. 48155~. 157 state and 155~. 157 Galbraith,see also J.stagnation K. 52 see also stagnation Gurley,Gambetta, J. D.128-9 24, 46 Gurley, J. 128-9 gas law 28-9, 29 general commodity production 280, 298 Habermas,General Electric J. 235 87 Habermas, J. 235 Haeckel,genes 47-8 E. 61 Haeckel, E. 61 Hall,fuzziness B. G. 6448-9 Hall, B. G. 64 Hamilton,as information A. 107 34-5 Hamilton, A. 107 Harris,genotype M. C.27,33-4,46-50,63 90 Harris, M. C. 90 Harrison,defmite B. 34,170,171-2,321 48-50 Harrison, B. 170,171-2,321 Hasan,exogenous P. 160 33-4,46-8 Hasan, P. 160 Haveman,Georgescu-Roegen, R. 172 N. 39 Haveman, R. 172 hedonicGeras, N. wage 266, theory 267 323 hedonic wage theory 323 Hegel,Gerschenkron, G. W. F. A. 230,235,248,147, 159 Hegel, G. W. F. 230,235,248, 256 Heidegger,Ghiselin, M. M. T. 30225 Heidegger, M. 302 Heilbroner,gill slits 61 R. L. l, Heilbroner, R. L. l, 56, 109, 120, 160, Gintis, H. 142, 361 161,236,241,333,372 goalscapitalism 295, 3028; future capitalism 8; future prospects 9-10, Gold,376; J. and95 political 376; and political sphere 183; goldsmithspower and32~ 350; power and 350; reform 8-9; as goodregime and evil 5~;197, scepticism 199-200, 231-28; state regime 5~; scepticism 8; state seeintervention also Christian 145, account 145~. of 149, 158, intervention 145, 145~. 149, 158, 159individuality 159 Goodwin,crisis of B.intervention C. 50, 59 162 crisis of intervention 162 Gordon,deficits D. M.107-8, 85, 121-2; 89, 100-l, crowding 101, 140 deficits 107-8, 121-2; crowding Gould,out S. J.119-20, 49, 61, 139 65 out 119-20, 139 governmentdevelopment spending 6 development 6 economicsbudget deficits 1-2, and 11; 137-8;historical change economics 1-2, 11; historical change andcomposition 22, 108 120, 122-3, 138-9; and 22, 108 humancrowding prospect out 10119-20 human prospect 10 infancyand growth 6-7 318 infancy 6-7 inflationUS growth 141 165 inflation 141 Index 389

large-scale government 141 ideal of 'man' 25~9 markets 2, 4, 4-5 Ignatieff, M. 236, 238 methodology 15 impartial spectator 237 motivation 189, 246, 266 incentives rationality 113 argument for small state 150 scepticism 7, 8 to invest 339-42, 342-3, 345-8 stagnation 12~7 market economy 361 'Sweden' 9-10 inclusive fitness 63 technical economics 375 income distribution technology and employment 75, 7~7 aggregate demand and 337 US economic policy debate 162 US 179-80; deficits and 113, visions 3-4 135--6; post-war economic policy Heller, W. 161, 162, 173-4 consensus 163, 165-7; socio• high employment deficits 120-1, 122, economic change in 1980s 169-73 123, 125--6, 130-1 see also equality Hilferding, R. 149, 159--60 incomes, US household/family 165, Himmelfarb, G. 229 170-1, 172 Hirsch, A. 62 see also wages Hirschhorn, L.: mechanization 89; increasing returns 31 ~ 17 computers 86, 90; electricity 85; independence, personal 266 flexibility 88, 98; steam power 83 indicative planning 371 Hirschman, A. 0. 181 individuality 189-229 Hirshleifer, J. 25 Christian account 19~204; and historical materialism 242, 24~51, Utilitarianism 209-13 25~9 classical account 19~204; in 18th- historical sequence of capitalism 272, century political economy 204-9 277-80 classical economics 191-2 history Marx 194,230,266,363-4 economics and 3, 22-3, 54-7; neo-classical economics 191-2 deficits 108-9 Smith see Smith nature and 221-2, 22~8. 252 see also human nature Marx and see Marx industrial capital 278 Ho, M.-W. 25, 41, 47, 49, 50, 59 industrial divides 77-8, 100 Hobbesian economic school 324 industrial policy 317-19, 371 Hollander, S. 325, 331 industrialization, late 14 7 Hollis, M. 15 inequality 365, 370-1 Hont, I. 236, 238 infancy ~7 Hoover, H. 107 inflation Hoselitz, B. 320 monetary policy 134, 165 Hotelling, H. 63 US 164, 174, 175; deficits and 121, Hounshell, D. A. 83, 100 122, 123-4, 140 Howard, M. 319 information Howell, D. R. 86, 90, 96, 97, 98, 99 automation and 87-8 human nature 368-9 market socialism 360-2 Heilbroner ~ 7 neo-classical economics 32-3, 41--6 Marx and see Marx neo-Darwinism 33-4, 4~50 Smith 324, 368 innovation 41-3 see also individuality see also technological change Hume, D. 215, 222-3, 234, 236, 238, inputs 331 neo-classical paradigm 37-9 Hunt, H. A. 98 neo-Darwinist paradigm 40-1 Hunt, T. L. 98 Quesnay's Tableaux 307, 310-15 hyper-rationality 35, 51 insect colonies 32 390 Index

instability, markets and 365-6, 371 deficits and surpluses 110-11 Institutionalism 194-5 see also neo-Keynesianism interest payments 135-6, 137, 142 Khalil, E. L. 23, 24, 30, 39, 42, 43, 44, interest rate 45,49,55,56,62,63,64,65 budget deficits and 116-17, 132, Kitcher, P. 62 139-40; monetary policy 134-5, Knight, F. 51 141-2 knowledge 41-50 surplus and abstinence 349-51, 353 neo-classical paradigm 41-6 internationalization 109, 129-30, 140 neo-Darwinism 46-50 intervention, crisis of 162 sociology of 250 see also state see also information investment Koebner, R. 331 classical perspectives 335-53; Kohler, W. 44 inducement 339-42; Marx on Korea, South 152-3, 160 savings and 342-9; Ricardo versus Krueger, A. 333 Malthus 336-9; surplus versus Kuczynski, M. 319, 320, 321 abstinence 349-53 Kurdas, C. 41 deficits and 110, Ill; control Kuttner, R. 178-9, 181 strategy 138; crowding out Kuznets, P. 153, 160 114-20; profitability 132-3, 140-1 Ireland 338 labour irreversibility, change and 23 abstract 56, 65, 248-50 agency of 38 Jansson, A.-M. 38 control of 6, 330-3 Japan division of see division of labour economic growth 156 equality and 248-9 industrial robots 96, 97 Marx and commodity world 286-90; Japanese Industrial Robot Association congealed 286, 287-8; organization (JIRA) 96 of activity 286-7, 288-90; socialist Jefferson, T. 107 economy 359 Jeffries, J. M. 164, 168, 171, 174 organization by markets 4 Jevons, W. S. 191, 209-10, 212, 234-5, labour market 322-33 325 discipline 330-3 jewellers 325-6 effects of division of labour 327-30 job training policies, US 168 moral hazard 324-7 Johnson, C. 317, 321 labour unions 163, 168-9 joint stock companies 326-7 Laibman, D. 348, 349 justice Lamarck, J. B. 34, 46, 63 Marx 241-6, 267; autonomy, self• land distribution 338 realization and 259-66; natural Landa, J. T. 25 right tradition 243-5; relativist Landes, D. 80, 82, 85 tradition 245-6 Langlois, R.N. 51 Smith 214-15 large-scale production see mass production Kagel, J. H. 25 Larsen, R. K. 81 Kaldor, N. 41, 321, 348 Latsis, S. J. 51 growth laws 64, 316-17 Lawrence, R. Z. 321 Kalecki, M. 375 Leibenstein, H. J. 22, 45, 55 Kant, I. 200, 201, 232, 233, 235 Lenski, R. 65 Kaplan, M. M. 47 Leontief, W. I 00 Kennedy, J. F. 107, 108, 372, 375 Lester, R. K. 100 Keynes, J. M. 138, 337 Levine, D.P. 42, 45, 51, 230, 238 Keynesianism 194-5, 230 Lewontin, R. C. 53 Index 391

Levins, R. 32 Smith's Wealth of Nations 190--1 light industries 91, 93 Marshall, A. 191, 210, 235 see also craft manufacturing; traditional Martineau, H. 235 industries Marx, J. L. 61 limitlessness of human wants 206-7 Marx, K. 191, 267, 298, 375 Lincoln millers 83 abstract labour 56, 65 Lipietz, A. 140 capitalism 269-81, 296-8; distinctive living standards 183, 184 characteristic 276-7, 299; division Locke, J. 24, 205, 206, 233 of labour 357; historical Lotka, A. J. 40 sequence 277-80; individual Lowe, A. 11, 148-9, 159 development 363-4; merchants' Lukas, J. A. 168 capital 269-71; money-capital Lukes, S. 266 transition 280--1; specifically Lustgarten, E. S. 97 capitalist capital 271-6; stages of Luther, M. 344 development 81 commodity as 'characteristic MacArthur, R. H. 32, 35-6 form' 269-302; congealed labour machine tool industry 83 and organization of labour Machlup, F. 17, 20 activity 286-90; exchange value Maddison, A. 85 and value 282-6; specifically Malthus, T. R. 336-42, 353 capitalist commodity 281-90; management universal circulation 290-6 control of labour 330--3 dependence 266,298-9 efficiency and small state 151-2 extraction of labour 324 manufacturing history, human nature and economic growth and 64, 152-3; justice 241-66, 267; autonomy, Kaldor 64, 316-17; Quesnay's self-realization and justice 259-66; Tableaux 312-15, 316, 317 consistency 242, 255-9; historical employment and computer-based materialism 242, 246-51; natural mechanization 89-90, 91-4 right tradition 241-2, 243-5; Marchi, N. de 62 philosophical anthropology 241, marginalist theory 17-18 242, 251-5; relativist tradition 242, Marglin, S. A. 328 245-6 market socialism 356-73 individuality 194, 230, 266, 363-4 critique of Marx 356-64; individual innovation 42 development 363-4; information and market socialism see market socialism incentives 360--2; markets and savings and investment 342-9; political allocation 356-8; scale implications 349-53 and complexity 35~; scarcity Smith 327 and abundance 362-3 view of history 56 Marx's critique of the market 364-70; mass production 100 alienation 366-9; economies of 146-8 commodification 366; technical advance 76, 7730, 78-9, inequality 365; instability 365-6; 83-4, 84-5 limited freedom 369-70 material interchange 293-4, 294-5 markets 2-3, 9, 375-6 see also circulation expansion: capitalism 345-6, 353; materialism, historical 242, 246-51, investment 346-8 256-9 failures 150--1 Matusow, A. J. 164, 174 Heilbroner 2, 4, 4-5 Maurice, M. F. S. 45 neo-classical individuality and 212, maximization subject to constraints 26 235-6 maximum power principle 40 rationality and deficits 111-12 Mayr, E. 34 392 Index

McGahey, R. M. 164, 168, 171, 174, natural right tradition 241-260 180 Marx and 241-2, 243-5 McKay Machine 84 natural selection 26, 27, 35-6, 52-3, 62 Means, G. 151, 160 see also selection Meany, G. 169 nature 232 mechanical industries 76 history and 221-2, 226-8, 252 mechanization 84, 86, 87, 88, 89; necessitous credit demand 130 employment and computer• need satisfaction 290, 293, 294, 301 based 91-2,93,94,100 Nell, E. 15, 43, 45, 62, 140, 353 mechanization Nelson, R. R. 43 computer-based 76, 81-2, 86-9; neo-classical economics (NC) 62, 191-2 employment and 89-98 and neo-Darwinism 22-57; science-based 76, 81, 84-6 conceptual core 26-36; critique of simple 76, 81, 82-4 conceptual core 36-53; Meek, R. 298, 319-20, 320, 321 environment 50-2; inputs 37-9; melancholy moralists 216 preferences 35; resources 30-1; merchants' capital 269-71, 277, 278 technology 32-3, 41-6 metaethical absolutism 245-6 individuality 212-13, 225-6, 235-6 metaethical relativism 245 Smith and 193-4 Michl, T. R. 136, 321 neo-Darwinism (NO) 22-57 migration 311-12 conceptual core 26-36; critique Milkman, R. 46, 47, 49, 59, 64 of 36-53 Mill, J. S. 191, 210, 212, 235, 325 environment 52-3 Miller, D. 363, 364, 372 genotype 33-4,46-50 Miller, J. A. 142 inputs 40-1 Miller, S.M. 78, 87, 95, 101 nature as selector 35-6 Milton, J. 202-4 nutrients 31-2 Minsky, H. P. 142 neo-Keynesianism 114-20 Mirabeau, Marquis de 320 see also Keynes; Keynesianism Mises, L. von 43, 230 new classical economics 111-13 Moffitt, M. 141 New DeaVGreat Society consensus monetary policy 115, 134-5 163-9 money 286, 287 Newtonian framework 25, 58 circulation 272-3,291,294 Nietzsche, F. 231, 231-2, 233-4 first form of capital 271-2, 280-1 Nixon administration 174 Monod, J. 33 Noda, H. 47 Moorhead, P. S. 47 non-accelerating inflation rate of moral hazard 323, 324-7, 328 unemployment (NAIRU) 114-15, moralists, melancholy 216 118 morality 244 normative relativism 245, 245-6 Morgan, M. J. 65 Nove, A. 360, 362, 372 Morris-Suzuki, T. 98 nurture 237 motivation Nussbaum, M. 201, 231, 232,233, 238, individual 189, 194, 207-8; see also 239 individuality nutrients 31-2 investment and 339-42, 345-8 motor vehicle industry 80, 94, 95, 100 O'Brien, A. P. 85, 86, 101 Mun, T. 206 O'Driscoll, G. P. 43, 51, 139 Murphy, K. M. 79 Odum, H. T. 40 mutation 63 Okun, A.M. 164, 174-5 random 33-4,46-7 Olson, M. 176, 181 Index 393 ontogeny 49 politics opportunity cost 37-8 economics, public policy and 182-4 order, social see social order equity, growth and 177-82 organic view 23, 28, 30, 54-7 Marx and capitalism 265-6 organisms 27-8 virtues and 218 nutrients 31-2 Pollard, J. W. 47, 50, 59 shaped by the environment 48-50 Pollard, S. 328 see also neo-Darwinism Pollin, R. 139, 140, 141, 142 organization 54-5 population, Quesnay's Tableaux outputs, Quesnay's Tableaux and 307, and 307,311-12,315 310-15 positive methodology 15-21 outworking 328 conditions of application 16--18 ownership maximizing net policy benefit 18-19 social 370-1 meaning of rationality 19-20 of US debt 124, 125 possible extensions of analysis 20-1 post-industrial society lO poverty, US 172-3 Page, B. 142 power 344-5, 350, 351-2 pain 210-11, 216--17 see also maximum power principle Panichas, G. E. 266 Prasow, P. 84 Partridge, L. 65 pre-analytic visions 3 Pasinetti, L. L. 45, 337 precapitalist capital 269-71 passivity 212-13 passim 278-80 Pear, R. 165-6, 167 precapitalist production 299 pecuniary external economies 147-8 predators 35-6 Penrose, E. T. 64 preferences, consumer 27, 35, 50-2, 361 Perrings, C. 38 Pressman, S. 320 Peru 150, 157-8, 158 pricing philosophical anthropology 241-2, 242, industrial policy 318 251-5 information 361-2 justice 259-66 state intervention 153-4 phylogeny 49 Prigogine, I. 39, 64 Physiocrats 305, 318, 319 printing 84 Piaget, J. 44 private sector credit ll6-17, 133-4 piecework 327 process industries 76, 86, 87, 92-3, 94, Pigou (real balance) effect 121, 124, 136 99 pin factory 327-30 production Piore, M. J. 76, 77-9, 84, 100 alienation and 367-9, 371 planning, state 149 circulation and 278 market socialism and 356, 360-2, 371 continuity of 80-1, 82-3 Plato 196--7, 200, 231, 232 factors of see factors of production pleasure 210-11 Quesnay's Tableaux 307-9 Plotnick, R. 165 socialist economy 357, 358, 359 Pocock, J. G. A. 231, 234 production function 33 Polanyi, M. 44 productivity policy, public see public policy Kaldor and 316--17 political allocation 356--8, 359 Quesnay's Tableaux 312-15, 315, political economy 189 316--17 classical account of individuality in socialist society 362 18th-century 204-9 technology and 41-2, 45, 64 Smith and 220-1 professions 325, 326 394 Index

profit maximization 17 Reidl, R. 59, 65 profitability relativism 241, 260 accumulation and 336-9; inducement Marx and 242, 245-6 to invest 339-42; Marx and 348- Reich, R. 321 9,350-1 resources 30-l investment and deficits 132-3, 140-1 see also factors of production merchants' capital 270 revolution 256, 258 Proops, J. L. R. 38 Ricardian Equivalence Theorem 112-13 property 205, 234 Ricardo, D. 139, 190, 191 Proust, M. 237-8 'general glut' debate and Providence 226-7, 228 Malthus 335, 336-42, 353 Ptashne, M. 48 individuality and happiness 230 public enterprises 151-2 taxation and public borrowing 139 public life 218-19 Ricklefs, R. E. 31 public policy right, natural see natural right tradition economics, politics and 182-4 Riquetti, V. de 320 positive economics see positive Rizzo, M. J. 43, 51 methodology RNA 48,65 see also economic policy; industrial Robbins, L. 26 policy; monetary policy Robinson, J. l, 45, 62 'punctuated equilibria' hypothesis 64 robots, industrial 95-8 purposeful action 53-5 Roebuck, J. 331 Romania 153 Roosevelt, F. 372 Q, Tobin's 118, 119, 132-3 Rosdolsky, R. 298 quantum mechanics 30 Rosen, Queller, D. C. 49 R. 29, 30 Rosenberg, N. 43, 45, 83, 85 Quesnay, F. 320, 321, 375 Rousseau, J-J. 366 Tableaux Economique 305-19; policy Rousseaus, S. 142 implications 315-19; reconstruction Rowthorn, B. 353 of dynamic 309-15; reconstruction Russell, J. 44 of static 305-9 race-specific policies 172, 180 Sabel, C. F. 76, 77-9, 100 Raff, D. M. G. 323-4 Slilthe, S. N. 64 Rao, D. C. 160 Samuelson, P. A. 305, 319 Rapport, D. J. 25, 31, 32 satisfaction 24 rationality 15 Saunders, P. T. 25, 41, 47, 49, 50, 59 economic meaning 19-20 Savage, J. 107 neo-classical paradigm 35, 51 savings and US budget deficit 112-13 economic growth and 114 Rawls, J. 244,259-60, 266, 266-7 investment and 349-53; Marx Reagan, R. 155, 157, 170 342-9; merchants and real balance (Pigou) effect 121, 124, 136 manufacturers 342 reason, cunning of 256 scale economies 80, 147-8 recessions 164 scarcity 26, 31, 38-9, 362-3 reductionism 22, 55-7 Schlozman, K. L. 180 Rees, A. 322, 323 Schoffeniels, E. 47 regulation, efficiency and 150-1 Schumpeter, J. see also state accumulation and innovation 42-3 Reich, M. 85, 89, 100-1 investment 335, 342; Marx 349-50 Reich, R. 179, 181 view of history 55-6 Reider, J. 168 visions 3 Index 395

science-based mechanization 76, 81, social conflict 77-9 84-6 social labour 288-90 Scitovsky, T. 147-8, 159 social order 207-9, 234 segmentation, industrial 81-9, 99 Smith 224-6, 227-8 selection 27, 28, 35-6, 50-3 social ownership 370-1 natural (neo-Darwinism) 26, 27, 35-6, social safety net 163, 165-7, 170, 172 52-3,62 Social Security 165-6, 167, 170 neo-classical paradigm 35, 50-2 social wage 142 self-interest 190, 195, 223 socialism 8-9, 356, 376 see also individuality market see market socialism self-love 207, 368 sociology of knowledge 250 self-realization 251-3, 258-9 Solow, R. M. 100 autonomy, justice and 259-66 South America 338 Shackle, G. L. S. 51 South Korea 152-3, 160 Shaiken, H. 95 sovereignty, consumer 361-2 Shaikh, A. 142 species beings 253-4, 258 Shannon, C. 34 speculative credit demand 130 Shaw, E. 128-9 Spengler, J. J. 320 Shaw, W. H. 266 Sraffa, P. 353 Sheldrake, R. 50, 61 stability 244 shirking model 323 markets and 365-6, 371 Shleifer, A. 79 stagnation 140 shoe industry 84 Quesnay's Tableaux 309-15, 315-16 shortsightedness 222-3 US economy 109, 126-8, 130, 317 Simon, H. A. 21, 22, 51 Stanley, S.M. 64 simple circulation 290-3, 301 state simple commodity production 280, 298 arguments for small 149-52; simple mechanization 76, 81, 82-4 allocative efficiency 150-1; Simpson, G. G. 34 incentives 150; management skills 94-5, 98 efficiency 151-2 Skinner, A. S. 331 increasing intervention thesis 145-9; Skinner, Q. 231 large-scale production 146-8; slavery 251, 298-9, 326 planning 149; stimulation of Smith, A. 189-96, 205, 236,237, 238, demand 148-9 315,321,372,375 record and growth 152-7; Soviet accumulation 2, 339-40; China 335 growth 156-7; Thatcherism division of labour see division of labour 155-6; Third World and Hume 238 intervention 153-5, 158; Third individuals 190-1, 193-4, 213-29; World liberal capitalism 152-3 challenge to economics 226-9; shrinking and managed Theory of Moral Sentiments capitalism 157-9 214-20; Wealth of Nations 220-6, state enterprises 151-2 367-8 steam power 82, 83 judgement of self 229 Steele, E. J. 59 knowledge 44 Stein, H. 107, 139 labour market 322-33 Steindl, J. 148, 159 markets 2 Steuart, J. 207-8, 234, 238 satisfaction 24 Stigler, G. J. 35 and traditions of modem Stoicism 216-18, 236 economics 190-6; incompleteness structuralism 50 of classical and neo-classical subcontracting 328 economics 193-6; two lines of subsistence wage rate 336-7 thought in Wealth of Nations 190-1 Sultan, P. E. 84 396 Index

Summers,Tobin, J. L.164, 114, 165 115, 139, 323--4, 333 Tobin, J. 164, 165 surplusQ ratio value 118, see 119,value 132-3 Q ratio 118, 119, 132-3 surplusTonak, viewE. A. of 142profit 343, 349-53 Tonak, E. A. 142 surpluses,Tonnies, F. budget 366 110-11 Tonnies, F. 366 survivaltrade of the fittest 62 trade seeMarx also 257natural selection Marx 257 'Sweden'political economy8-9 and 206-7, 209 political economy and 206-7, 209 Quesnay's Tableaux 308-9 Quesnay's Tableaux 308-9 TableauxSmith Economique220 see Quesnay Smith 220 taxationUS 183; deficit 131-2, 134; US 183; deficit 131-2, 134; of benefitsintegration 170 128, 129 integration 128, 129 budgetsee also deficits exchange and 112-13, 166; see also exchange traditionalbusiness economics incentives 1-3117-18 traditional economics 1-3 incentivessee also classical and 150 economics see also classical economics traditionalindustrial industries policy 318-1976, 101 traditional industries 76, 101 taxpayers'employment revolts 91, 131, 93 166 employment 91, 93 Taylor,mechanization F. W. 327, 84, 333 99 mechanization 84, 99 Taylor,see also L. craft160 manufacturing see also craft manufacturing technicaltragic conflict advance 200-1, 75-100 23 3 tragic conflict 200-1, 23 3 transfercompetitive payments advantage 163, 165-7,80-1 170, 172 transfer payments 163, 165-7, 170, 172 transformationalcomputer-based growth mechanization 43 and transformational growth 43 trust,employment breakdown of89-98; 64 industrial trust, breakdown of 64 trustworthinessrobots 95-8; 325-7 structural trends trustworthiness 325-7 Tucker,89-95 R. C. 266, 267, 345-6 Tucker, R. C. 266, 267, 345-6 Turner,social J.conflict E. 25, 77-931, 32 Turner, J. E. 25, 31, 32 Turner,stages L. of mechanization95 in US 81-9; Turner, L. 95 computer-based 86-9; science• based 84-6; simple 82--4 technicalUlanowicz, economics R. E. 40 375 Ulanowicz, R. E. 40 technologicalunemployment paradigm 164, 165 43 unemployment 164, 165 technologicalNAIRU 114-15, regimes 11875-6, 78 NAIRU 114-15, 118 technology,Union of Soviet in neo-classical Socialist Republics paradigm 27 Union of Soviet Socialist Republics definite(USSR) 33, 156-743-6 (USSR) 156-7 Unitedexogenous Kingdom 32-3,41-3 155, 338 United Kingdom 155, 338 TeilhardUnited States de Chardin, P. 25 United States teleologyArms Control 23, 28, and 30, Development 54-7 Arms Control and Development tenantsAgency 326 160 Agency 160 tendencies,budget deficits innate see251-5 budget deficits budget deficits see budget deficits seecrisis also of autonomy;intervention self-realization 162 crisis of intervention 162 Thatcherismdemand 79155-6 demand 79 Thirddistribution World see equality; income distribution see equality; income growth:distribution liberal capitalism 152-3; state distribution employmentintervention structure 153-5, 15889-95 employment structure 89-95 technologygrowth see growth44-5 growth see growth Thirlwall,industrial A. policyP. 64, 317316, 321 industrial policy 317 Thompson,industrial D' robots Arcy W.96-7, 50 98 industrial robots 96-7, 98 Thompson,mass production E. P. 328-978-9, 100 mass production 78-9, 100 Thompson,post-war R.economic 84 performance post-war economic performance Thurow,110-11 L. C. 164, 179,321 110-11 economicproductivity policy decline and political315-16 productivity decline 315-16 stagesbarriers of mechanization 17 5-6 81-9 stages of mechanization 81-9 USstagnation productivity 109, 126-8,315-16 130, 317 stagnation 109, 126-8, 130, 317 Index 397 universal circulation 290-6, 296--7, 297, Wallace, G. 166 300 Wallis, A. 25 Ure, A. 333 Walsh, V. 26 Urquhart, R. 229, 230, 233, 234, 238 Ware, N. 84 Ursprung, H. W. 25 wealth, sources of 248, 250 usurers' capital 271, 273, 277, 278 Weber, B. 25, 39, 40, 47, 49, 50, 64 Utilitarianism 209-13, 235 Weber, M. 235, 236 Webster, G. C. 50, 59 Vaggi, G. 321 Wedgwood, J. 333 value, surplus Weiler, P. 169 capital and wage labour 273-6, 276--7 Weintraub, H. 65 circulation 277-8, 294 Weismann's barrier 33-4, 59 exchange value and Weisskopf, T. E. 101, 140-1 commodities 282-6, 300-1 Weisskopf, V. F. 230 Van DeVeer, D. 266 Wetlaufer, J. 299 Varela, F. 49 Wheeler and Wilson Manufacturing Veblen, T. 24, 51 Company 83 Verba, S. 180 Wicken, J. S. 25, 39, 40, 41 Verdoon law 64 Williams, W. A. 236 Vianello, F. 338 Williamson, 0. E. 46, 55 vice 197-8 Wilson, E. 0. 26, 32 virtue 197-9,218-19,237 Winch, D. 231 see also classical account of Winter, S. G. 43 individuality Wolff, E. 90 Vishny, R. 79 women 171, 182 visions 3-4 Woog, H. 320, 321 Von Baer's Law 61 workers, habits of 328-30 World Bank 152-3, 153-4, 160 Waddington, C. H. 49, 65 World Institute for Development wage labour 274-6, 276--7, 278-9, Economics Research 298-9 (WIDER) 153-4 wages Wright, R. 48 profit and 341-2 Smith and inequalities 322-33 Y onemoto, K. 96 social 142 Young, Allyn A. 41, 316 subsistence 336--7 Young, Arthur 329 us 171-2 see also incomes Zevin, R. B. 140 waiting 349-53 Zuboff, S. 87, 88, 98 see also interest rate Zysman, J. 90