Economics in the Twentieth Century: The History of its International Development

by Seligman,R. A.

• ISBN13: 9780415313391
• ISBN10: 0415313392
• Edition: 1st
• Format: Hardcover
• Copyright: 2003-09-24
• Publisher: Routledge

Summary

First published in 1931

Table of Contents

Foreword	v
The Author's Preface	vii
Introduction: The Development of Economic Theory in the Various Languages	3	(13)
PART ONE. PHILOSOPHICAL SOURCES OF THE MOST RECENT ECONOMIC TENDENCIES
The Baden School of Philosophy, the Question of Method, and the Philosophy of Values in Economics	16	(3)
The Philosophical Bases of ``Value-Less'' Economics	19	(1)
The Marburg School of Philosophy; Cassel and Liefmann	20	(2)
Comte, Spencer, and the Theory of Economic Equilibrium	22	(4)
Utilitarian Ethics, the Cambridge School and Economic Liberalism	26	(3)
Stammler and the Socio-Legal Theory of Economics	29	(1)
The Renaissance of German Idealism, and Spann	30	(3)
The Interpsychological System of Trade	33	(1)
Philosophical Optimism in America and Clark's School	34	(1)
The New American Psychology, and Economic Institutionalism	35	(10)
PART TWO. THE DEVELOPMENT IN THE GERMAN-SPEAKING COUNTRIES
Methods and Systems	45	(19)
The Abatement of the Quarrel Over Method	45	(2)
Logical Currents	47	(2)
The Dispute Over the Value Judgments	49	(6)
The Method of Exact Comparison	55	(1)
Economic Philosophy	56	(3)
Private Economics, Business Economics and World Economics	59	(3)
Economics of War	62	(2)
Attempts to Create Systems	64	(24)
The Historical School	64	(1)
The Pure Theory of Marginal Utility	65	(3)
Schumpeter's Static and Dynamic Economics	68	(2)
Cassel and His Adherents	70	(2)
The Realistic Theories of Lexis and Adolf Weber on the Economics of Exchange	72	(1)
Liefmann's Purely Psychological System	73	(2)
Organic and Teleological Thought	75	(4)
The Socio-Legal Tendency	79	(2)
The Systems of the Social Reformers	81	(4)
Outsiders	85	(1)
Text Books	86	(2)
Value	88	(10)
Conflict in the Theory of Value as Between Bohmbawerk and Wieser	88	(4)
Spann's Theory of Equal Importance	92	(1)
Return to the Objective Theory of Value	93	(2)
Special Attempts at Clarification	95	(1)
The ``Moribund'' Theory of Value	96	(2)
Price	98	(8)
The Price Theory of Marginal Utility	98	(1)
Liefmann's ``Purely Subjective'' Explanation of Price	99	(1)
The ``Purely Objective'' Solution	100	(2)
Attempts at Synthesis	102	(2)
Spann's Organic and Universalistic Theory of Price	104	(2)
Distribution	106	(21)
Marginal Utility and the Theory of Distribution	106	(2)
Solutions of the Problem of Distribution on the Basis of the Theory of Price	108	(2)
Social Theories of Distribution	110	(3)
The Derivation of Rent From the Formation of Price	113	(2)
The Generalization of the Law of Diminishing Returns	115	(1)
Municipal Ground Rents	116	(1)
The Discussion of Bohm's Agio Theory	117	(1)
The Dynamic Explanation of Interest	118	(1)
Monopoly, Abstinence, and Productivity Theories of Interest	119	(1)
Further Development of Ideas of Wages Theory	120	(1)
The Explanation of Wages on the Theory of Marginal Utility	121	(1)
The Socialistic Theory of Wages	122	(1)
The Dynamic Theory of Profit	123	(4)
PART THREE. THE DEVELOPMENT IN THE ROMANCE COUNTRIES
Method	127	(13)
Absence of Methodological Controversy in the Romance Countries	127	(1)
The Method of the Lausanne School	127	(3)
The Non-Mathematical Deductive Method	130	(2)
Logical and Epistemological Attempts	132	(2)
The Statistical and the Historical-Inductive Viewpoints	134	(2)
The Influence of Sociological Tendencies	136	(2)
General Tendencies in the Development of Method	138	(1)
No Innovations in the Systematization of Economics	138	(2)
Systematic Ideas	140	(28)
System of the Lausanne School	140	(6)
Eclectically Built Abstract-Deductive Theories	146	(4)
The Classical Liberal Group in France	150	(2)
Rationalistic Systems Without Theories of Value	152	(2)
The After-Effects of Historical Relativism	154	(1)
Solidaristic Social Ideas	155	(4)
The Religious and Ethical Tendency	159	(2)
Socialistic Systems	161	(4)
Text Books	165	(3)
Value	168	(11)
The Lausanne School and the Theory of Value	168	(3)
Slight Success of the Pure Theory of Marginal Utility in the Romance Countries	171	(2)
Attempts at a Reconciliation Between Objective and Subjective Tendencies	173	(2)
The Conflict Over Cost of Reproduction	175	(1)
More Recent Development of the Theory of Costvalue	176	(1)
Tarde's Theory of Value Based on Cultural Philosophy	177	(1)
The Theory of ``Economic Convenience''	178	(1)
Price	179	(10)
The Mathematical Theory of Price	179	(5)
The Conflict Over the Classical Law of Supply and Demand	184	(2)
The Explanation of Price by Social Ratios of Power	186	(1)
The ``Fair'' Price	186	(3)
Distribution	189	(24)
The Italian Theory of Distribution Based on the Theory of Economic Equilibrium	189	(2)
The Modern and the Classical Theory of Distribution in France	191	(1)
Ideas of Power and of Social Ethics in the Theory of Distribution	192	(1)
The Unification of the Laws of Returns	193	(2)
The Generalisation of the Theory of Rent	195	(2)
Consumer's Rent	197	(1)
The Attitude of the Lausanne School to the Problem of Interest and Theories of Savings	198	(3)
The Influence of Bohm's Agio Theory in the Romance Countries	201	(1)
Partial Weakening of the Theory of Interest	202	(1)
Socio-Ethical Wage Theories in Italy	202	(2)
The Realistic Explanations of Wages by Levasseur, Cornelissen and Simiand	204	(2)
The Marginal Principle and Socio-Ethical View-Points in the French Theory of Wages	206	(1)
Monopoly Theories and Eclectric Explanations of Profits	207	(1)
Differential Profits	208	(5)
PART FOUR. THE DEVELOPMENT IN THE ANGLO-SAXON COUNTRIES
Method	213	(16)
The Mathematical Procedure	213	(2)
Logical Attempts	215	(1)
The Quarrel Over Psychological Principles	216	(2)
The Realistic Current in America	218	(1)
Methodological Discussions Among American Economists	219	(3)
``Young America''	222	(3)
The Legal, Historical and Socio--Ethical Attitudes	225	(1)
The Problem of Value Judgments	226	(1)
Business Economics, Science of Management, and the Economics of War	227	(2)
Attempts to Create Systems	229	(25)
The Cambridge School, and Other Abstract Theoretical Systems in England	229	(9)
Clark's School in America	238	(3)
Fisher on Money and Interest	241	(1)
Davenport and the Point of View of the Entrepreneur	242	(1)
Fetter's Development	243	(2)
Carver and Other Theoretical Systems in Post-Waramerica	245	(2)
Realistic and Ethically Religious Systems, and Those Devoted to Social Reform	247	(3)
Text Books	250	(4)
Value	254	(11)
The Prevalent Tendency Toward Compromise in the Anglo-Saxon Theory of Value	254	(1)
Developments of the Theory of Disutility, Especially in a Social Direction	255	(3)
Efforts to Save the Labor Theory of Value	258	(1)
Davenport's Pseudo-Objective Theory of Value	258	(2)
Fetter, Anderson and the Struggle Against the Marginal Utility Theory of Value	260	(3)
Gradual Retreat of the Whole Value Theory in Anglo-Saxon Economics	263	(2)
Price	265	(13)
Marshall's Theory of Price, and its Developments	265	(2)
The Explanation of Price From the Point of View of Demand. Fetter	267	(1)
Clark's Theory of Price, and the Analysis of Price Boundaries	268	(4)
The Point of View of Costs	272	(3)
Monopoly Price	275	(1)
Normal Price and Price Fluctuations	276	(2)
Distribution	278	(35)
The Problem of Distribution in Modern English Theory	278	(1)
The American Theory of Marginal Productivity	279	(2)
Distribution of Wealth and the Social Conflict Over Prices	281	(2)
Development of the Austrian Theory of Imputation	283	(2)
The Passing of the Narrower Conception of Rent and the Problem of Returns	285	(3)
Newly Recognized Incomes Resembling Rent	288	(2)
The Classical Differential Rent	290	(1)
No New Theories of Interest in England	291	(1)
The Idea of Productivity and the Theory of Interest in America	292	(1)
The Conflict on the Concept of Capital	293	(1)
The Reception of Bohm's Interest Theory in America	294	(3)
Abstinence, Risk and the Residual Principle in the American Theory of Interest	297	(1)
The Problem of Wages in English Literature	298	(1)
The Modern American Productivity Theory of Wages	299	(2)
The Wage-Fund Theory	301	(2)
Moore's Inductive Explanation of Wages	303	(1)
The Problem of the Wage Level	304	(1)
The After-Effects of the Classical Idea of Productivity in the Theory of Profits	305	(1)
Risk and Profit	306	(2)
The Residual Principle and the Dynamic Element in Profits	308	(1)
Profits as a Monopoly Income	309	(4)
Summary and Prospects	313	(27)
Abbreviations of Periodicals	340	(3)
Notes	343	(46)
Index of Names	389