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9780195105599

History of Economic Analysis With a New Introduction

by ; ;
  • ISBN13:

    9780195105599

  • ISBN10:

    0195105591

  • Edition: Revised
  • Format: Paperback
  • Copyright: 1996-03-07
  • Publisher: Oxford University Press

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Summary

At the time of his death in 1950, Joseph Schumpeter--one of the great economists of the first half of the 20th century--was working on his monumental History of Economic Analysis. A complete history of efforts to understand the subject of economics from ancient Greece to the present, this bookis an important contribution to the history of ideas as well as to economics. Although never fully completed, it has gained recognition as a modern classic due to its broad scope and original examination of significant historical events. Complete with a new introduction by Mark Perlman, whooutlines the structure of the book and puts Schumpeters work into current perspective, History of Economic Analysis remains a reflection of Schumpeters diverse interests in history, philosophy, sociology, and psychology. Major topics include the techniques of economic analysis, contemporaneousdevelopments in other sciences, and the sociology of economics; economic writings from Plato and Aristotle up through the time of Adam Smith, including the medieval scholastics and natural-law philosophers; the work of Malthus, Mill, Ricardo, Marx, and the important European economists; the history,sociology, psychology, and economics of the period 1879-1914; and modern economic developments. Schumpeter perceived economics as a human science, and this lucid and insightful volume reflects that perception, creating a work that is of major importance to the history of economics.

Table of Contents

Introduction v
Mark Perlman
Editor's Introduction xxxi
PART I INTRODUCTION Scope and Method
Introduction and Plan
3(9)
Plan of the Book
3(1)
Why Do We Study the History of Economics?
4(2)
But Is Economics a Science?
6(6)
The Techniques of Economic Analysis
12(13)
Economic History
12(1)
Statistics
13(1)
`Theory'
14(6)
Economic Sociology
20(1)
Political Economy
21(1)
Applied Fields
22(3)
Contemporaneous Developments in Other Sciences
25(8)
Economics and Sociology
25(2)
Logic and Psychology
27(1)
Economics and Philosophy
28(5)
The Sociology of Economics
33(18)
Is the History of Economics a History of Ideologies?
34(17)
Special Nature of `Economic Laws'
34(1)
The Marxian Exposition of Ideological Bias
35(3)
How Does a History of Economic Analysis Differ from a History of Systems of Political Economy; from a History of Economic Thought?
38(3)
The Scientific Process: Vision and Rules of Procedure
41(10)
PART II FROM THE BEGINNINGS TO THE FIRST CLASSICAL SITUATION (To About 1790)
Graeco-Roman Economics
51(22)
Plan of the Part
51(2)
From the Beginnings to Plato
53(4)
Aristotle's Analytic Performance
57(2)
On the Origin of the State, Private Property, and Slavery
59(1)
Aristotle's `Pure' Economics
60(5)
Value
60(2)
Money
62(2)
Interest
64(1)
Greek Philosophy
65(1)
The Contribution of the Romans
66(5)
Absence of Analytic Work
67(1)
Importance of Roman Law
67(3)
Writings on Agriculture
70(1)
Early Christian Thought
71(2)
The Scholastic Doctors and the Philosophers of Natural Law
73(70)
The Great Gap
73(1)
Feudalism and Scholasticism
74(4)
Scholasticism and Capitalism
78(4)
Scholastic Sociology and Economics
82(25)
From the Ninth Century to the End of the Twelfth
83(4)
The Thirteenth Century
87(7)
From the Fourteenth Century to the Seventeenth
94(13)
The Concept of Natural Law
107(8)
The Ethico-Legal Concept
108(2)
The Analytic Concept
110(3)
Natural Law and Sociological Rationalism
113(2)
The Philosophers of Natural Law: Natural-Law Analysis in the Seventeenth Century
115(7)
The Protestant or Laical Scholastics
116(2)
Mathematics and Physics
118(1)
Economic and Political Sociology
119(3)
Contribution to Economics
122(1)
The Philosophers of Natural Law: Natural-Law Analysis in the Eighteenth Century and After
122(21)
The Science of Human Nature: Psychologism
123(3)
Analytic Aesthetics and Ethics
126(4)
Self-Interest, the Common Good, and Utilitarianism
130(4)
Historical Sociology
134(3)
The Encyclopedistes
137(2)
The Semi-Socialist Writers
139(2)
Moral Philosophy
141(2)
The Consultant Administrators and the Pamphleteers
143(66)
More Facts from Social History
143(12)
Incidental Factors in the Emergence of the National States
144(2)
Why the National States Were Aggressive
146(2)
Influence of Special Circumstances on the Contemporary Literature
148(7)
The Economic Literature of the Period
155(6)
The Material Excluded
156(3)
The Consultant Administrators
159(1)
The Pamphleteers
160(1)
Sixteenth-Century Systems
161(6)
The Work of Carafa
162(2)
Representative Performances: Bodin and Botero
164(1)
Spain and England
165(2)
The Systems, 1600-1776
167(27)
Representatives of the Earlier Stages
167(3)
Justi: the Welfare State
170(4)
France and England
174(2)
High Level of the Italian Contribution
176(5)
Adam Smith and the Wealth of Nations
181(13)
Quasi-Systems
194(5)
Public Finance Once More
199(7)
Note on Utopias
206(3)
The Econometricians and Turgot
209(41)
Political Arithmetick
209(6)
Boisguillebert and Cantillon
215(8)
The Physiocrats
223(20)
Quesnay and the Disciples
223(5)
Natural Law, Agriculture, Laissez-Faire, and l'Impot Unique
228(4)
Quesnay's Economic Analysis
232(7)
The Tableau Economique
239(4)
Turgot
243(7)
Population, Returns, Wages, and Employment
250(26)
The Principle of Population
250(8)
The Populationist Attitude
251(2)
Growth of Factual Knowledge
253(1)
Emergence of the `Malthusian' Principle
254(4)
Increasing and Decreasing Returns and the Theory of Rent
258(8)
Increasing Returns
258(1)
Decreasing Returns: Steuart and Turgot
259(3)
Historical Increasing Returns
262(1)
Rent of Land
263(3)
Wages
266(4)
Unemployment and the `State of the Poor'
270(6)
Value and Money
276(59)
Real Analysis and Monetary Analysis
276(12)
Relation of Monetary Analysis to Aggregative or Macroanalysis
278(2)
Monetary Analysis and Views on Spending and Saving
280(3)
Interlude of Monetary Analysis (1600-1760): Becher, Boisguillebert, and Quesnay
283(2)
Dearness and Plenty versus Cheapness and Plenty
285(3)
Fundamentals
288(12)
Metallism and Cartalism: Theoretical and Practical
288(1)
Theoretical Metallism in the Seventeenth and Eighteenth Centuries
289(4)
Survival of the Antimetallist Tradition
293(7)
Digression on Value
300(11)
The Paradox of Value: Galiani
300(2)
Bernoulli's Hypothesis
302(3)
The Theory of the Mechanism of Pricing
305(2)
Codification of Value and Price Theory in the Wealth of Nations
307(4)
The Quantity Theory
311(6)
Bodin's Explanation of the Price Revolution
312(1)
Implications of the Quantity Theorem
312(5)
Credit and Banking
317(5)
Credit and the Concept of Velocity: Cantillon
318(3)
John Law: Ancestor of the Idea of a Managed Currency
321(1)
Capital, Savings, Investment
322(5)
Interest
327(8)
Influence of the Scholastic Doctors
328(1)
Barbon: `Interest is the Rent of Stock'
329(1)
Shift of Analytic Task from Interest to Profit
330(2)
Turgot's Great Performance
332(3)
The `Mercantilist' Literature
335(44)
Interpretation of the `Mercantilist' Literature
335(3)
Export Monopolism
338(2)
Exchange Control
340(5)
The Balance of Trade
345(17)
The Practical Argument: Power Politics
346(1)
The Analytic Contribution
347(5)
The Balance-of-Trade Concept as an Analytic Tool
352(1)
Serra, Malynes, Misselden, Mun
353(6)
Three Erroneous Propositions
359(3)
Analytic Progress from the Last Quarter of the Seventeenth Century: Josiah Child to Adam Smith
362(17)
Concept of the Automatic Mechanism
365(2)
Foundations of a General Theory of International Trade
367(3)
General Tendency toward Freer Trade
370(3)
Benefits from Territorial Division of Labor
373(6)
PART III FROM 1790 TO 1870
Introduction and Plan
379(14)
Coverage
379(1)
Paraphernalia
380(3)
Plan of the Part
383(1)
Concerning the Marxist System
383(10)
Socio-Political Backgrounds
393(14)
Economic Development
396(1)
Free Trade and Foreign Relations
397(2)
Domestic Policy and Sozialpolitik
399(3)
Gladstonian Finance
402(3)
Gold
405(2)
The Intellectual Scenery
407(56)
The Zeitgeist of the Period and Its Philosophy
407(11)
Utilitarianism
407(4)
German Philosophy
411(4)
Comtist Positivism
415(3)
Romanticism and Historiography
418(10)
Romanticism
418(6)
Historiography
424(4)
Sociology and Political Science: Environmentalism
428(7)
The Natural-Law Sociology of Government and Politics
428(3)
The Historian's Sociology of Government and Politics
431(3)
Environmentalism
434(1)
Evolutionism
435(11)
Philosophers' Evolutionism
436(2)
Marxist Evolutionism
438(4)
Historians' Evolutionism
442(1)
The Intellectualist Evolutionism of Condorect and Comte
442(2)
Darwinian Evolutionism
444(2)
Psychology and Logic
446(6)
Associationist and Evolutionist Psychology
446(2)
Logic, Epistemology, and Cognate Fields
448(1)
J. S. Mill's Logic
449(3)
Pre-Marxian Socialism
452(11)
Associationist Socialism
454(3)
Anarchism
457(3)
Saint-Simonist Socialism
460(3)
Review of the Troops
463(64)
The Men Who Wrote above Their Time
463(6)
The Ricardians
469(11)
Malthus, Senior, and Some of Those Who Also Ran
480(10)
Malthus
480(3)
Archbishop Whately and Professor Senior
483(3)
Some of Those Who Also Ran
486(4)
France
490(11)
Germany
501(9)
Italy
510(4)
United States
514(5)
Factual Work
519(8)
Tooke's History of Prices
520(1)
Collection and Interpretation of Statistical Materials
521(3)
Development of Statistical Methods
524(3)
General Economics: A Cross Section
527(48)
J. S. Mill and his Principles. Fawcett and Cairnes
527(7)
Scope and Method: What Economists Thought They Were Doing
534(7)
Definitions of the Science
534(2)
Methodology
536(4)
The Science and the Art
540(1)
What Mill's Readers Actually Got
541(3)
The Institutional Frame of the Economic Process
544(10)
The Institutions of Capitalist Society
544(4)
The State in `Classic' Economics
548(2)
The Nation and the Classes
550(4)
The `Classic' Schema of the Economic Process
554(16)
The Actors
554(3)
The Agents
557(4)
The Model
561(9)
The `Classic' Conception of Economic Development
570(5)
Genral Economics: Pure Theory
575(311)
Axiomatics. Senior's Four Postulates
575(13)
The First Postulate
576(2)
The Second Postulate: the Principle of Population
578(6)
The Fourth Postulate: Diminshing Returns
584(4)
Value
588(17)
Ricardo and Marx
590(8)
The Opponents of the Labor-Quantity Theory of Value
598(5)
J. S. Mill's Half-Way House
603(2)
The Theory of International Values
605(10)
Say's Law of Markets
615(10)
Capital
625(20)
Terminological Squabbles about Wealth and Income
625(6)
The Structure of Physical Capital
631(6)
Senior's Contributions
637(3)
J. S. Mill's Fundamental Propositions Respecting Capital
640(5)
The Distributive Shares
645(232)
Profits
645(2)
Marx's Exploitation Theory of Interest
647(220)
Clark, Fisher, and Taussig
867(6)
A Few More Leading Figures
873(4)
The Marxists
877(9)
Marxism in Germany
879(3)
Revisionism and the Marxist Revival
882(4)
General Economics: Its Character and Contents
886(65)
Outposts
886(5)
The Sociological Framework of General Economics
886(3)
Population
889(2)
The Vision, Enterprise, and Capital
891(18)
The Vision
892(1)
Enterprise
893(5)
Capital
898(11)
The Revolution in the Theory of Value and Distribution
909(11)
The Theory of Exchange Value
911(1)
Cost, Production, Distribution
912(6)
Interdependence and Equilibrium
918(2)
Marshall's Attitude and Real Cost
920(4)
Interest, Rent, Wages
924(20)
Interest
924(8)
Rent
932(7)
Wages
939(5)
The Contribution of the Applied Fields
944(7)
International Trade [Heading only; section not written.]
945(1)
Public Finance [Not finished.]
945(1)
Labor Economics
946(2)
Agriculture [Heading only; section not written]
948(1)
Railroads, Public Utilities, `Trusts', and Cartels
948(3)
Equilibrium Analysis
951(123)
Fundamental Unity of the Period's Economic Theory
952(2)
Cournot and the `Mathematical School': Econometrics
954(9)
The Service Mathematics Rendered to Economic Theory
955(3)
The Contribution of Cournot
958(5)
The Concept of Equilibrium
963(9)
Statics, Dynamics; the Stationary State, Evolution
963(4)
Determinateness, Equilibrium, and Stability
967(5)
The Competitive Hypothesis and the Theory of Monopoly
972(13)
The Competitive Hypothesis
973(2)
The Theory of Monopoly
975(4)
Oligopoly and Bilateral Monopoly
979(6)
The Theory of Planning and of the Socialist Economy
985(5)
Partial Analysis
990(8)
The Marshallian Demand Curve
991(1)
Elasticity Concepts
992(2)
Concepts Useful for General Analysis
994(4)
The Walrasian Theory of General Equilibrium
998(28)
Walras' Conceptualization
999(4)
The Theory of Exchange
1003(1)
Determinateness and Stability of Simple Exchange
1004(5)
Walras' Theory of Production
1009(7)
The Introduction of Capital Formation and of Money
1016(10)
The Production Function
1026(28)
The Meaning of the Concept
1027(5)
The Evolution of the Concept
1032(7)
The Hypothesis of First-Order Homogeneity
1039(6)
Increasing Returns and Equilibrium
1045(3)
Tendency toward Zero Profits
1048(5)
Appendix to Chapter 7
Note on the Theory of Utility
1053(1)
The Earlier Developments
1054(1)
Beginnings of the Modern Development
1055(1)
The Connection with Utilitarianism
1056(1)
Psychology and the Utility Theory
1057(3)
Cardinal Utility
1060(2)
Ordinal Utility
1062(4)
The Consistency Postulate
1066(3)
Welfare Economics
1069(5)
Money, Credit, and Cycles
1074(65)
Practical Problems
1074(6)
The Gold Standard
1075(1)
Bimetallism
1076(1)
International Monetary Co-operation
1076(1)
Stabilization and Monetary Management
1077(3)
Analytic Work
1080(6)
Walras
1082(1)
Marshall
1083(2)
Wicksell
1085(1)
The Austrians
1085(1)
Fundamentals
1086(5)
Nature and Functions of Money
1086(4)
Knapp's State Theory of Money
1090(1)
The Value of Money: Index Number Approach
1091(4)
Early Work
1092(1)
The Role of the Economic Theorists
1092(2)
Haberler, Divisia, and Keynes
1094(1)
The Value of Money: the Equation of Exchange and the `Quantity Approach'
1095(13)
The Definition of the Concepts
1096(3)
Distinction between the Equation of Exchange and the Quantity Theory
1099(7)
Purchasing Power Parity and the Mechanism of International Payments
1106(2)
The Value of Money: the Cash Balance and Income Approaches
1108(2)
The Cash Balance Approach
1108(1)
The Income Approach
1109(1)
Bank Credit and the `Creation' of Deposits
1110(7)
Crises and Cycles: the Monetary Theories
1117(5)
Non-Monetary Cycle Analysis
1122(17)
Juglar's Performance
1123(2)
Common Ground and Warring `Theories'
1125(7)
Other Approaches
1132(7)
PART V CONCLUSION A SKETCH OF MODERN DEVELOPMENTS
Introduction and Plan
1139(9)
Plan of the Part
1139(1)
The Progress of Theoretical Economics during the Last Twenty-five Years
1140(5)
Introductory Lecture on the Scope of the Course
1140(2)
The Marshall-Wicksell System and Its Development
1142(1)
Economic Dynamics
1142(1)
Income Analysis
1143(1)
Summary of the Course
1144(1)
Background and Patterns
1145(3)
Developments Stemming from the Marshall-Wicksell Apparatus
1148(5)
The Modern Theory of Consumer's Behavior and the `New' Theory of Production
1148(2)
Theory of the Individual Firm and Monopolistic Competition
1150(3)
Economics in the `Totalitarian' Countries
1153(7)
Germany
1154(2)
Italy
1156(1)
Russia
1157(3)
Dynamics and Business Cycle Research
1160(10)
Dynamizing Aggregate Theory: Macrodynamics
1161(1)
The Statistical Complement: Econometrics
1162(1)
The Interaction of Macrodynamics and Business Cycle Research
1163(7)
Keynes and Modern Macroeconomics
1170(15)
Comments on the Wider Aspects of Keynes's Work
1171(3)
The Analytic Apparatus of the General Theory
1174(6)
The Impact of the Keynesian Message
1180(5)
Editor's Appendix 1185(20)
List of Books Frequently Quoted 1205(4)
Author Index 1209(22)
Subject Index 1231

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