Wesley Mitchell (1874-1948), John Commons (1862-1945), Clarence Ayres (1891-1972)


Book Description

Part of a series presenting critical appraisals of influential economists from the age of Aristotle to the present. The individuals examined have shaped both the theory and practice of modern economics. Each volume combines classic statements by economists with the most recent research.




The Struggle over the Soul of Economics


Book Description

This book provides a surprising answer to two puzzling questions that relate to the very "soul" of the professional study of economics in the late twentieth century. How did the discipline of economics come to be dominated by an approach that is heavily dependent on mathematically derived models? And what happened to other approaches to the discipline that were considered to be scientifically viable less than fifty years ago? Between the two world wars there were two well-accepted schools of thought in economics: the "neoclassical," which emerged in the last third of the nineteenth century, and the "institutionalist," which started with the works of Veblen and Commons at the end of the same century. Although the contributions of the institutionalists are nearly forgotten now, Yuval Yonay shows that their legacy lingers in the study and practice of economics today. By reconsidering their impact and by analyzing the conflicts that arose between neoclassicists and institutionalists, Yonay brings to life a hidden chapter in the history of economics. The author is a sociologist of science who brings a unique perspective to economic history. By utilizing the actor-network approach of Bruno Latour and Michel Callon, he arrives at a deeper understanding of the nature of the changes that took place in the practice of economics. His analysis also illuminates a broader set of issues concerning the nature of scientific practice and the forces behind changes in scientific knowledge.




An Outline of the History of Economic Thought


Book Description

This book provides a comprehensive overview of the development of economics from its beginnings, at the end of the Middle Ages, up to contemporary developments. It is strong on contemporary theory, providing extensive coverage of the twentieth century, particularly since the Second World War. The second edition has been revised and updated to take account of new developments in economic thought.




Theorists of Economic Growth from David Hume to the Present


Book Description

This history of theories and theorists of economic growth elucidates the economic theory, economic history, and public policy observations of the renowned scholar W. W. Rostow. Looking at the economic growth theories of the classic economists up to 1870, Rostow compares Hume and Adam Smith, Malthus and Ricardo, and J.S. Mill and Karl Marx. He then examines the period 1870-1939 and its economic theorists, including Schumpeter, Colin Clark, Kuznets, and Harrod, and surveys the three forms of growth analysis in the postwar era: formal models, statistical morphology, and development theories. This authoritative overview also includes an agenda of unresolved problems in growth analysis and a description of the five major tasks statesmen will confront over the next several generations.




The Individual Vs. The Public Interest


Book Description

Central to the controversy surrounding U. S. natural resources policy is the conflict between environmentalists and proponents of development. Examining the evolution of the philosophies underlying that conflict, Dr. Alston traces the failure to achieve a unified resources policy to the seemingly incompatible ideological positions held by resource specialists, interest groups, policymakers, econo mists, and foresters. His analysis goes beyond his case study of na ional forest policy to focus on an ancient question basic to policy making in a democratic society: How can government provide a sociopolitical framework that accomodates both individual interests and the need for unity in a collective existence? Only within this broader framework, he argues, is it possible to determine the proper division between private and public resource management or the proper role of government in natural resources planning. Incorporating a critical evaluation of the development of classical and neoclassical economic theory, this work makes clear the need to strike a balance between a strictly individualistic and an ecological point of view. Dr. Alston illustrates the ideological conflicts that complicate resources planning and explores the possibility of a new ideology capable of accomodating and inte grating differences to meet the complex needs of society.




Development of Economic Analysis


Book Description

This is the sixth edition of a textbook that has been instrumental in introducing a generation of students to the history of economic thought. It charts the development of economics from its establishment as an analytical discipline in the eighteenth century through to the late twentieth century. The book discusses the work of, amongst others: Ricardo, Malthus, Marx, Walras, Marshall and Keynes as well as the institutionalists, the Chicago School and the emergence of econometrics. This edition has been fully revised and updated and includes: chronologies of the key dates in the development of economics extracts from original texts an examination of how the study of the history of economic thought impinges upon modern thinking.




How Economics Forgot History


Book Description

Hodgson calls into question the tendency of economic method to explain all economic phenomena using the same catch-all theories. He argues that you need different theories and that historical contexts must be taken into account.




Dictionary of Modern American Philosophers


Book Description

The Dictionary of Modern American Philosophers includes both academic and non-academic philosophers, anda large number of female and minority thinkers whose work has been neglected. It includes those intellectualsinvolved in the development of psychology, pedagogy, sociology, anthropology, education, theology, politicalscience, and several other fields, before these disciplines came to be considered distinct from philosophy in thelate nineteenth century.Each entry contains a short biography of the writer, an exposition and analysis of his or her doctrines and ideas, abibliography of writings, and suggestions for further reading. While all the major post-Civil War philosophers arepresent, the most valuable feature of this dictionary is its coverage of a huge range of less well-known writers,including hundreds of presently obscure thinkers. In many cases, the Dictionary of Modern AmericanPhilosophers offers the first scholarly treatment of the life and work of certain writers. This book will be anindispensable reference work for scholars working on almost any aspect of modern American thought.




From Political Economy to Economics


Book Description

Economics has become a monolithic science, variously described as formalistic and autistic with neoclassical orthodoxy reigning supreme. So argue Dimitris Milonakis and Ben Fine in this new major work of critical recollection. The authors show how economics was once rich, diverse, multidimensional and pluralistic, and unravel the processes that lead to orthodoxy’s current predicament. The book details how political economy became economics through the desocialisation and the dehistoricisation of the dismal science, accompanied by the separation of economics from the other social sciences, especially economic history and sociology. It is argued that recent attempts from within economics to address the social and the historical have failed to acknowledge long standing debates amongst economists, historians and other social scientists. This has resulted in an impoverished historical and social content within mainstream economics. The book ranges over the shifting role of the historical and the social in economic theory, the shifting boundaries between the economic and the non-economic, all within a methodological context. Schools of thought and individuals, that have been neglected or marginalised, are treated in full, including classical political economy and Marx, the German and British historical schools, American institutionalism, Weber and Schumpeter and their programme of Socialökonomik, and the Austrian school. At the same time, developments within the mainstream tradition from marginalism through Marshall and Keynes to general equilibrium theory are also scrutinised, and the clashes between the various camps from the famous Methodenstreit to the fierce debates of the 1930s and beyond brought to the fore. The prime rationale underpinning this account drawn from the past is to put the case for political economy back on the agenda. This is done by treating economics as a social science once again, rather than as a positive science, as has been the inclination since the time of Jevons and Walras. It involves transcending the boundaries of the social sciences, but in a particular way that is in exactly the opposite direction now being taken by "economics imperialism". Drawing on the rich traditions of the past, the reintroduction and full incorporation of the social and the historical into the main corpus of political economy will be possible in the future.




Theories of International Economics


Book Description

International economic theories emerged within particular social, economic and political frameworks and were developed as solutions to the problems of contemporary economics. In order to understand the increasingly complex and interdependent state of today’s international economy, we need to realise the importance of those theories that came before. However, many international economics textbooks do not place the theories they discuss within this historical context. Theories of International Economics aims to redress the balance by taking a pluralistic approach, presenting with authority both orthodox and heterodox international economic theories. Each chapter shows the necessarily interdependent nature of schools of international economic theories by including an historical component that shows how each school of thought developed, why it developed and what it has to say about the contemporary world. This text examines a wide range of theories with an emphasis on the benefits of a pluralistic approach, addressing schools of thought including Classical, Neoclassical, Keynesian, Post Keynesian, Marxian, Austrian, Institutional and Feminist Economics, Mercantilism and Neo-Mercantilism, alongside – and in relation to – each other. This approach allows the scholarly value of each approach to be understood and appreciated, and in doing so enables a greater understanding of the world economy. This book is suitable for use as either a core or supplementary text on international economics and international political economy courses.