00_Money and Markets778_pre 25/1/07 10:13 am Page i 00_Money and …arkets778_pre.pdf Routledge Research Money and Markets In the development of the history of economic thought, contrasting views of money and markets have emerged. Whilst some economists have seen money as an instrument created by individuals in an attempt to overcome the difficulties of barter, others have seen it as something created before the market, maintained and promoted by the State. Similarly, whereas some economists have seen the market as a level playing field, others have seen it dominated by specific group interests. This book brings together 14 essays by leading authors in the field of eco- nomics to look at the relationship between money and markets thoughout eco- nomic theory and history, thus providing a key to understanding important issues in monetary theory and other important debates in contemporary eco- nomics. Taking a critical stance of much mainstream economics literature and offer- ing alternative arguments, this title is essential reading for postdoctoral researchers in the field of both the history of economics and current economic theory. Alberto Giacomin is Associate Professor in the History of Economic Thought at the University of Venice. Maria Cristina Marcuzzo is Head of the Depart- ment of Economics at the University of Rome. PROOF ONLY 00_Money and Markets778_pre 25/1/07 10:13 am Page ii 00_Money and …arkets778_pre.pdf Routledge Research 1 Routledge studies in the history of economics 2 3 4 5 6 7 8 9 10 11 12 1 Economics as Literature 8 The History of Game Theory, 13 Willie Henderson Volume 1 14 From the beginnings to 1945 15 2 Socialism and Marginalism in Robert W. Dimand and 16 Economics 1870–1930 Mary Ann Dimand 17 Edited by Ian Steedman 18 9 The Economics of W. S. Jevons 19 3 Hayek’s Political Economy Sandra Peart 20 The socio-economics of order 21 Steve Fleetwood 10 Gandhi’s Economic Thought 22 Ajit K Dasgupta 23 4 On the Origins of Classical 24 Economics 11 Equilibrium and Economic 25 Distribution and value from Theory 26 William Petty to Adam Smith Edited by Giovanni Caravale 27 Tony Aspromourgos 28 12 Austrian Economics in Debate 29 5 The Economics of Joan Edited by Willem Keizer, 30 Robinson Bert Tieben and Rudy van Zijp 31 Edited by 32 Maria Cristina Marcuzzo, 13 Ancient Economic Thought 33 Luigi Pasinetti and Edited by B. B. Price 34 Alesandro Roncaglia 35 14 The Political Economy of Social 36 6 The Evolutionist Economics of Credit and Guild Socialism 37 Léon Walras Frances Hutchinson and 38 Albert JolinkPROOF ONLYBrian Burkitt 39 40 7 Keynes and the ‘Classics’ 15 Economic Careers 41 A study in language, Economics and economists in 42 epistemology and mistaken Britain 1930–1970 43 identities Keith Tribe 44 Michel Verdon 45 00_Money and Markets778_pre 25/1/07 10:13 am Page iii 00_Money and …arkets778_pre.pdf Routledge Research 1 16 Understanding ‘Classical’ 25 Marx’s Concept of Money: the 2 Economics God of Commodities 3 Studies in the long-period theory Anitra Nelson 4 Heinz Kurz and Neri Salvadori 5 26 The Economics of James 6 17 History of Environmental Steuart 7 Economic Thought Edited by Ramón Tortajada 8 E. Kula 9 27 The Development of Economics 10 18 Economic Thought in in Europe since 1945 11 Communist and Post- Edited by A. W. Bob Coats 12 Communist Europe 13 Edited by Hans-Jürgen Wagener 28 The Canon in the History of 14 Economics 15 19 Studies in the History of French Critical essays 16 Political Economy Edited by Michalis Psalidopoulos 17 From Bodin to Walras 18 Edited by Gilbert Faccarello 29 Money and Growth 19 Selected papers of Allyn Abbott 20 20 The Economics of John Rae Young 21 Edited by O. F. Hamouda, C. Lee Edited by Perry G. Mehrling and 22 and D. Mair Roger J. Sandilands 23 24 21 Keynes and the Neoclassical 30 The Social Economics of Jean- 25 Synthesis Baptiste Say 26 Einsteinian versus Newtonian Markets and virtue 27 macroeconomics Evelyn L. Forget 28 Teodoro Dario Togati 29 31 The Foundations of Laissez- 30 22 Historical Perspectives on Faire 31 Macroeconomics The economics of Pierre de 32 Sixty years after the ‘General Boisguilbert 33 Theory’ Gilbert Faccarello 34 Edited by Philippe Fontaine and 35 Albert Jolink 32 John Ruskin’s Political 36 Economy 37 23 The Founding of Institutional Willie Henderson 38 Economics 39 The leisure classPROOF and sovereignty 33 ContributionsONLY to the History of 40 Edited by Warren J. Samuels Economic Thought 41 Essays in honour of R.D.C. Black 42 24 Evolution of Austrian Edited by Antoin E. Murphy and 43 Economics Renee Prendergast 44 From Menger to Lachmann 45 Sandye Gloria 00_Money and Markets778_pre 25/1/07 10:13 am Page iv 00_Money and …arkets778_pre.pdf Routledge Research 34 Towards an Unknown Marx 42 Piero Sraffa’s Political 1 A commentary on the manuscripts Economy 2 of 1861–63 A centenary estimate 3 Enrique Dussel Edited by Terenzio Cozzi and 4 Roberto Marchionatti 5 35 Economics and 6 Interdisciplinary Exchange 43 The Contribution of Joseph 7 Edited by Guido Erreygers Schumpeter to Economics 8 Economic development and 9 36 Economics as the Art of institutional change 10 Thought Richard Arena and Cecile Dangel 11 Essays in memory of G.L.S. 12 Shackle 44 On the Development of Long- 13 Edited by Stephen F. Frowen and run Neo-Classical Theory 14 Peter Earl Tom Kompas 15 16 37 The Decline of Ricardian 45 F.A. Hayek as a Political 17 Economics Economist 18 Politics and economics in post- Economic analysis and values 19 Ricardian theory Edited by Jack Birner, 20 Susan Pashkoff Pierre Garrouste and 21 Thierry Aimar 22 38 Piero Sraffa 23 His Life, thought and cultural 46 Pareto, Economics and Society 24 heritage The mechanical analogy 25 Alessandro Roncaglia Michael McLure 26 27 39 Equilibrium and 47 The Cambridge Controversies 28 Disequilibrium in Economic in Capital Theory 29 Theory A study in the logic of theory 30 The Marshall–Walras divide development 31 Michel de Vroey Jack Birner 32 33 40 The German Historical School 48 Economics Broadly Considered 34 The historical and ethical Essays in honor of Warren J. 35 approach to economics Samuels 36 Edited by Yuichi Shionoya Edited by Steven G. Medema, 37 Jeff Biddle and John B. Davis 38 41 ReflectionsPROOF on the Classical ONLY 39 Canon in Economics 49 Physicians and Political 40 Essays in honor of Samuel Economy 41 Hollander Six studies of the work of doctor- 42 Edited by Sandra Peart and economists 43 Evelyn Forget Edited by Peter Groenewegen 44 45 00_Money and Markets778_pre 25/1/07 10:13 am Page v 00_Money and …arkets778_pre.pdf Routledge Research 1 50 The Spread of Political 57 Classics and Moderns in 2 Economy and the Economics, Volume I 3 Professionalisation of Essays on nineteenth and 4 Economists twentieth century economic 5 Economic societies in Europe, thought 6 America and Japan in the Peter Groenewegen 7 nineteenth century 8 Massimo Augello and 58 Classics and Moderns in 9 Marco Guidi Economics, Volume II 10 Essays on nineteenth and 11 51 Historians of Economics & twentieth century economic 12 Economic Thought thought 13 The construction of disciplinary Peter Groenewegen 14 memory 15 Steven G. Medema and 59 Marshall’s Evolutionary 16 Warren J. Samuels Economics 17 Tiziano Raffaelli 18 52 Competing Economic Theories 19 Essays in memory of Giovanni 60 Money, Time and Rationality in 20 Caravale Max Weber 21 Sergio Nisticò and Austrian connections 22 Domenico Tosato Stephen D. Parsons 23 24 53 Economic Thought and Policy 61 Classical Macroeconomics 25 in Less Developed Europe Some modern variations and 26 The 19th century distortions 27 Edited by Michalis Psalidopoulos James C.W. Ahiakpor 28 and Maria-Eugenia Almedia Mata 29 62 The Historical School of 30 54 Family Fictions and Family Economics in England and 31 Facts Japan 32 Harriet Martineau, Adolphe Tamotsu Nishizawa 33 Quetelet and the population 34 question in England 1798–1859 63 Classical Economics and 35 Brian Cooper Modern Theory 36 Studies in long-period analysis 37 55 Eighteeth-Century Economics Heinz D. Kurz and Neri Salvadori 38 Peter Groenewegen 39 PROOF64 A BibliographyONLY of Female 40 56 The Rise of Political Economy Economic Thought to 1940 41 in the Scottish Enlightenment Kirsten K. Madden, Janet A. Sietz 42 Edited by Tatsuya Sakamoto and and Michele Pujol 43 Hideo Tanaka 44 45 00_Money and Markets778_pre 25/1/07 10:13 am Page vi 00_Money and …arkets778_pre.pdf Routledge Research 65 Economics, Economists and 73 Knut Wicksell on Poverty 1 Expectations No place is too exalted 2 From Microfoundations to Knut Wicksell 3 Macroeconomics 4 Warren Young, Robert Leeson 74 Economists in Cambridge 5 and William Darity Jnr. A study through their 6 correspondence 1907–1946 7 66 The Political Economy of Public Edited by M.C. Marcuzzo and 8 Finance in Britain, 1767–1873 A. Rosselli 9 Takuo Dome 10 75 The Experiment in the History 11 67 Essays in the History of of Economics 12 Economics Edited by Philippe Fontaine and 13 Warren J. Samuels, Robert Leonard 14 Willie Henderson, 15 Kirk D. Johnson and 76 At the Origins of Mathematical 16 Marianne Johnson Economics 17 The economics of A.N. Isnard 18 68 History and Political Economy (1748–1803) 19 Essays in honour of P.D. Richard van den Berg 20 Groenewegen 21 Edited by Tony Aspromourgos 77 Money and Exchange 22 and John Lodewijks Folktales and reality 23 Sasan Fayazmanesh 24 69 The Tradition of Free Trade 25 Lars Magnusson 78 Economic Development and 26 Social Change 27 70 Evolution of the Market Process Historical roots and modern 28 Austrian and Swedish economics perspectives 29 Edited by Michel Bellet,