HISTORY of ECONOMIC THOUGHT a Selected Bibliography John F
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The Austrian School in Bulgaria: a History✩ Nikolay Nenovsky A,*, Pencho Penchev B
Russian Journal of Economics 4 (2018) 44–64 DOI 10.3897/j.ruje.4.26005 Publication date: 23 April 2018 www.rujec.org The Austrian school in Bulgaria: A history✩ Nikolay Nenovsky a,*, Pencho Penchev b a University of Picardie Jules Verne, Amiens, France b University of National and World Economy, Sofia, Bulgaria Abstract The main goal of this study is to highlight the acceptance, dissemination, interpretation, criticism and make some attempts at contributing to Austrian economics made in Bulgaria during the last 120 years. We consider some of the main characteristics of the Austrian school, such as subjectivism and marginalism, as basic components of the economic thought in Bulgaria and as incentives for the development of some original theoreti- cal contributions. Even during the first few years of Communist regime (1944–1989), with its Marxist monopoly over intellectual life, the Austrian school had some impact on the economic thought in the country. Subsequent to the collapse of Communism, there was a sort of a Renaissance and rediscovery of this school. Another contribution of our study is that it illustrates the adaptability and spontaneous evolution of ideas in a different and sometimes hostile environment. Keywords: history of economic thought, dissemination of economic ideas, Austrian school, Bulgaria. JEL classification: B00, B13, B30, B41. 1. Introduction The emergence and development of specialized economic thought amongst the Bulgarian intellectuals was a process that occurred significantly slowly in comparison to Western and Central Europe. It also had its specific fea- tures. The first of these was that almost until the outset of the 20th century, the economic theories and different concepts related to them were not well known. -
Timothy J. Schibik, Ph. D. Office: BE1019 (Inside the Main COB Offices – BE1015) Office Hours: by Appointment
University of Southern Indiana Romain College of Business Department of Economics and Marketing ECON461: History of Economic Thought Fall 2018 Instructor: Timothy J. Schibik, Ph. D. Office: BE1019 (inside the main COB offices – BE1015) Office Hours: By appointment. Office Phone: (812) 464-1979 (Mary Spahn in the Main Office) e-mail: [email protected] Course Prerequisite: Econ208 and Econ209 Note: This course counts as an economics elective for economics majors/minors and as a 300/400 level elective for all other majors at the university. Text: Heilbroner, Robert L., The Worldly Philosophers: The Lives, Times, and Ideas of the Great Thinkers, 7th Edition Newly Revised, Touchstone – Simon Shuster Pub. Co., 1999. Course Objective: The overall objective of this course is to introduce the origins and evolution of economic theory from its formative stages to the present. The focus will be on developing the interrelationships between the historical environment and development of economic theory to be used in understanding existing social realities. Upon completion of this course, student should be able to: recognize the various schools of economic thought, along with their origins and evolution; summarize the main characteristics of the various schools of economic thought; describe the technological, ideological and social forces that have influenced these schools of thought; identify the various economic theories that were/are used to explain and analyze particular choices at various points in time; distinguish the impacts that the various schools of thought have had on current “mainstream” economics, and; ask yourselves the important questions (i.e., What do I know?, How do I know?, What do I believe?, and Why do I believe it?) and arrive at defendable answers. -
“Bad” Greed from the Enlightenment to Thorstein Veblen (1857-1929)1 Erik S
real-world economics review, issue no. 63 subscribe for free Civilizing capitalism: “good” and “bad” greed from the enlightenment to Thorstein Veblen (1857-1929)1 Erik S. Reinert [Tallinn University of Technology, Estonia and Norway] Copyright: Erik S. Reinert, 2013 You may post comments on this paper at http://rwer.wordpress.com/2013/03/25/rwer-issue-63/ As we look over the country today we see two classes of people. The excessively rich and the abject poor, and between them is a gulf ever deepening, ever widening, and the ranks of the poor are continually being recruited from a third class, the well-to-do, which class is rapidly disappearing and being absorbed by the very poor. Milford Wriarson Howard (1862-1937), in The American Plutocracy, 1895. This paper argues for important similarities between today’s economic situation and the picture painted above by Milford Howard, a member of the US Senate at the time he wrote The American Plutocracy. This was the time, the 1880s and 1890s, when a combination of Manchester Liberalism – a logical extension of Ricardian economics – and Social Darwinism – promoted by the exceedingly influential UK philosopher Herbert Spencer – threatened completely to take over economic thought and policy on both sides of the Atlantic. At the same time, the latter half of the 19th century was marred by financial crises and social unrest. The national cycles of boom and bust were not as globally synchronized as they later became, but they were frequent both in Europe and in the United States. Activist reformer Ida Tarbell probably exaggerated when she recalled that in the US “the eighties dripped with blood”, but a growing gulf between a small and opulent group of bankers and industrialists produced social unrest and bloody labour struggles. -
David Ricardo's Contribution to the Constitution of The
David Ricardo’s Contribution to the Constitution of the Canon of Ricardian Economics: A Reconsideration of 1970’s Interpretations of the 1815 Debate André Lapidus, Nathalie Sigot To cite this version: André Lapidus, Nathalie Sigot. David Ricardo’s Contribution to the Constitution of the Canon of Ricardian Economics: A Reconsideration of 1970’s Interpretations of the 1815 Debate. Evelyn L. Forget and Sandra Peart. Reflections on the Classical Canon in Economics, Routledge, pp.270-289, 2001. hal-00344895 HAL Id: hal-00344895 https://hal-paris1.archives-ouvertes.fr/hal-00344895 Submitted on 6 Dec 2008 HAL is a multi-disciplinary open access L’archive ouverte pluridisciplinaire HAL, est archive for the deposit and dissemination of sci- destinée au dépôt et à la diffusion de documents entific research documents, whether they are pub- scientifiques de niveau recherche, publiés ou non, lished or not. The documents may come from émanant des établissements d’enseignement et de teaching and research institutions in France or recherche français ou étrangers, des laboratoires abroad, or from public or private research centers. publics ou privés. David Ricardo’s Contribution to the Constitution of the Canon of Ricardian Economics: A Reconsideration of 1970’s Interpretations of the 1815 Debate André Lapidus * Nathalie Sigot * In Evelyn L. Forget and Sandra Peart (eds), Reflections on the Classical Canon in Economics, London and New York: Routledge, 2001 * Centre d’Histoire de la Pensée Economique, University of Paris I Panthéon - Sorbonne - 106, bd de l’Hôpital - 75647 Paris Cedex 13 - France. E-mails: [email protected] and [email protected]. -
How Doctrinal Are the Doctrines of Economic Thought? a Critical Evaluation
Archives of Business Research – Vol.6, No.7 Publication Date: July. 25, 2018 DOI: 10.14738/abr.67.2236. Eriemo, N. O. (2018). How Doctrinal Are The Doctrines Of Economic Thought? A Critical Evaluation. Archives of Business Research, 6(7), 34-44. How Doctrinal Are The Doctrines Of Economic Thought? A Critical Evaluation Nathanael Oke. Eriemo, PhD Department of Economics, Delta State University, Abraka, Nigeria ABSTRACT This paper is a concerted attempt to elucidate the interplay between the use of history, doctrine and theory among economists and allied managers of economic resources over ages and to evaluate the doctrinal claims in economic thought theorizing as particularly reflected in the economies of the Less Developed Countries. Thus taking economic thought as dogma, institutional and society variability in terms of desires make sweeping generalization about doctrine and persistent followership controversial and intolerable. Keywords: doctrinal, economic theory, economic doctrine, controversies INTRODUCTION Economic researchers have severally used economic theory and economic doctrine interchangeably yet they not necessarily mean the same. Economic theories refer to universally tested behaviour with respect to wealth acquisition and utilisation while economic doctrine is a principle or body of principles presented for acceptance or belief as by religious, political, scientific group; dogma. Wikipedia defined doctrine as a codification of beliefs or a body of teachings or instructions, taught principles or positions, as the essence of teaching in a given branch of knowledge or in a belief system. Arising from the foregoing, one is apt to take a position that economic thought provides the basis for economic theory formulation by man since the beginning of age. -
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. -
The Physiocrats Six Lectures on the French Économistes of the 18Th Century
The Physiocrats Six Lectures on the French Économistes of the 18th Century Henry Higgs Batoche Books Kitchener 2001 First Edition: The Macmillan Company, 1897 This Edition: Batoche Books Limited 52 Eby Street South Kitchener, Ontario N2G 3L1 Canada email: [email protected] ISBN: 1-55273-064-6 Contents Preface ............................................................................................... 5 I: Rise of the School. .......................................................................... 6 II: The School and Its Doctrines. ..................................................... 17 III: The School and Its Doctrines (contd.) ....................................... 29 IV: Activities of the School. ............................................................. 43 V: Opponents of the School. ............................................................ 55 VI: Influence of the School. ............................................................. 66 Appendix .......................................................................................... 77 Authorities ....................................................................................... 80 Notes ................................................................................................ 82 Preface This little volume consists of lectures delivered before the London School of Economics in May and June of the present year. Impossible though it was found to give a truly adequate account of the Physiocrats in these six lectures, it has been thought that they may perhaps furnish -
Ancient Economic Thought, Volume 1
ANCIENT ECONOMIC THOUGHT This collection explores the interrelationship between economic practice and intellectual constructs in a number of ancient cultures. Each chapter presents a new, richer understanding of the preoccupation of the ancients with specific economic problems including distribution, civic pride, management and uncertainty and how they were trying to resolve them. The research is based around the different artifacts and texts of the ancient East Indian, Hebraic, Greek, Hellenistic, Roman and emerging European cultures which remain for our consideration today: religious works, instruction manuals, literary and historical writings, epigrapha and legal documents. In looking at such items it becomes clear what a different exercise it is to look forward, from the earliest texts and artifacts of any culture, to measure the achievements of thinking in the areas of economics, than it is to take the more frequent route and look backward, beginning with the modern conception of economic systems and theory creation. Presenting fascinating insights into the economic thinking of ancient cultures, this volume will enhance the reawakening of interest in ancient economic history and thought. It will be of great interest to scholars of economic thought and the history of ideas. B.B.Price is Professor of Ancient and Medieval History at York University, Toronto, and is currently doing research and teaching as visiting professor at Massachusetts Institute of Technology. ROUTLEDGE STUDIES IN THE HISTORY OF ECONOMICS 1 Economics as Literature -
GEORGE J. STIGLER Graduate School of Business, University of Chicago, 1101 East 58Th Street, Chicago, Ill
THE PROCESS AND PROGRESS OF ECONOMICS Nobel Memorial Lecture, 8 December, 1982 by GEORGE J. STIGLER Graduate School of Business, University of Chicago, 1101 East 58th Street, Chicago, Ill. 60637, USA In the work on the economics of information which I began twenty some years ago, I started with an example: how does one find the seller of automobiles who is offering a given model at the lowest price? Does it pay to search more, the more frequently one purchases an automobile, and does it ever pay to search out a large number of potential sellers? The study of the search for trading partners and prices and qualities has now been deepened and widened by the work of scores of skilled economic theorists. I propose on this occasion to address the same kinds of questions to an entirely different market: the market for new ideas in economic science. Most economists enter this market in new ideas, let me emphasize, in order to obtain ideas and methods for the applications they are making of economics to the thousand problems with which they are occupied: these economists are not the suppliers of new ideas but only demanders. Their problem is comparable to that of the automobile buyer: to find a reliable vehicle. Indeed, they usually end up by buying a used, and therefore tested, idea. Those economists who seek to engage in research on the new ideas of the science - to refute or confirm or develop or displace them - are in a sense both buyers and sellers of new ideas. They seek to develop new ideas and persuade the science to accept them, but they also are following clues and promises and explorations in the current or preceding ideas of the science. -
Contents More Information
Cambridge University Press 978-1-107-17533-4 — A Brief History of Economic Thought Alessandro Roncaglia Table of Contents More Information Contents Preface page ix 1 Introduction: The History of Economic Thought and Its Role 1 1.1 Why the History of Economic Thought Is Considered Useless: The Cumulative View 1 1.2 The Competitive View 3 1.3 The Stages of Economic Theorising: Conceptualisation and Model-building 7 1.4 Economics and the History of Economic Thought 8 2 The Prehistory of Political Economy 10 2.1 Why We Call It Prehistory 10 2.2 Classical Antiquity 14 2.3 Patristic Thought 16 2.4 The Scholastics 17 2.5 Usury and Just Price 19 2.6 Bullionists and Mercantilists 22 2.7 The Naissance of Economic Thought in Italy: Antonio Serra 23 3 William Petty and the Origins of Political Economy 27 3.1 Life and Writings 27 3.2 Political Arithmetic and the Method of Economic Science 28 3.3 National State and the Economic System 31 3.4 Commodity and Market 33 3.5 Surplus, Distribution, Prices 35 4 From Body Politic to Economic Tables 39 4.1 The Debates of the Time 39 4.2 John Locke 40 4.3 The Motivations and Consequences of Human Actions 42 4.4 Bernard de Mandeville 43 4.5 Richard Cantillon 45 4.6 François Quesnay and the Physiocrats 48 4.7 The Political Economy of the Enlightenment; Turgot 51 4.8 The Italian Enlightenment: the Abbé Galiani 53 4.9 The Scottish Enlightenment: Francis Hutcheson and David Hume 55 v © in this web service Cambridge University Press www.cambridge.org Cambridge University Press 978-1-107-17533-4 — A Brief History of -
Economic Cycles in Ancient China
NBER WORKING PAPER SERIES ECONOMIC CYCLES IN ANCIENT CHINA Yaguang Zhang Guo Fan John Whalley Working Paper 21672 http://www.nber.org/papers/w21672 NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138 October 2015 This paper is the second of a planned series examining the Chinese history of ancient economic thought in light of later Western thought. The first paper is Monetary Theory and Policy from a Chinese Historical Perspective which has been published in China Economic Review (Volume 26, September 2013, Pages 89-104.) This work is of importance in better understanding the Chinese policy response to the global issues of the day; the financial crisis, global warming and climate change. We acknowledge financial support from the Ontario Research Fund (ORF-F3), IDRC, and the Centre for International Governance Innovation (CIGI), Waterloo Ontario. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research. NBER working papers are circulated for discussion and comment purposes. They have not been peer- reviewed or been subject to the review by the NBER Board of Directors that accompanies official NBER publications. © 2015 by Yaguang Zhang, Guo Fan, and John Whalley. All rights reserved. Short sections of text, not to exceed two paragraphs, may be quoted without explicit permission provided that full credit, including © notice, is given to the source. Economic Cycles in Ancient China Yaguang Zhang, Guo Fan, and John Whalley NBER Working Paper No. 21672 October 2015 JEL No. N1,N15 ABSTRACT We discuss business cycles in ancient China. -
A Western Perspective on Kautilya's 'Arthasastra'
ISSN 1444-8890 ECONOMIC THEORY, APPLICATIONS AND ISSUES Working Paper No. 18 A Western Perspective on Kautilya’s ‘Arthasastra’: Does it Provide a Basis for Economic Science? by Clem Tisdell January 2003 THE UNIVERSITY OF QUEENSLAND ISSN 1444-8890 WORKING PAPERS ON ECONOMIC THEORY, APPLICATIONS AND ISSUES Working Paper No.18 A Western Perspective on Kautilya’s ‘Arthasastra’: Does it Provide a Basis for Economic Science* by Clem Tisdell† January 2003 © All rights reserved † School of Economics, The University of Queensland, Brisbane 4072 Australia. Email: [email protected] * A contribution prepared for a book on Kautilya’s Economics to be jointly edited by Professor Raj Kumar Sen. This contribution owes its original genesis to an invitation from Dr K. V. Ramesh, Director, Oriental Research Institute, University of Mysore, to attend an International Symposium on Kautilya’s ‘Arthasastra’ held to commemorate the centenary of the first discovery of the complete manuscript of this work. ` WORKING PAPERS IN THE SERIES, Economic Theory, Applications and Issues, are published by the School of Economics, University of Queensland, 4072, Australia. For more information write to Professor Clem Tisdell, School of Economics, University of Queensland, Brisbane 4072, Australia or email [email protected] A Western Perspective on Kautilya’s ‘Arthasastra’: Does It Provide a Basis for Economic Science? ABSTRACT In Arthasastra, Kautilya shows a knowledge of basic economics that had no parallels in Western economic thought until the publication of Adam Smith’s Wealth of Nations in 1776. Although the king was at the centre of the body politic in Kautilya’s time, Kautilya makes it clear that the king is bound by an implicit social contract and that the ultimate objective of the king, in economic and other affairs, should be to benefit his subjects.