Pub Date : 2023-05-04DOI: 10.1080/10370196.2023.2220593
J. Courvisanos
Chicago Press. Caldwell, B. 2007. “Life Writings: On-the-Job Training with F. A. Hayek.” History of Political Economy 39 (annual supplement): 342–354. Caldwell, B. 2016. “F. A. Hayek and the Economic Calculus.” History of Political Economy 48 (1): 151–180. Cubitt, C. E. 2006. A Life of Friedrich August von Hayek. Gamlingway: Authors OnLine. Ebenstein, A. 2003. Friedrich Hayek: A Biography. Chicago: University of Chicago Press. Groenewegen, P. D. 1995. A Soaring Eagle: Alfred Marshall (1842–1924). Cheltenham UK: Elgar. Harper, D. A., and A. M. Endres. 2022. “Menger’s Precursors in the German Subjective-Value Tradition and His Advancements in the Theory of Wants and Goods.” The Review of Austrian Economics 2022, 5. doi:10.1007/s11138-022-00598-5. Hayek, F. A. 1934. “Carl Menger.” Economica 1: 393–420. Hayek, F. A. 1937a. “Monetary Nationalism and International Stability.” London, reprinted in S. Kresge. (ed). The Collected Works of F. A. Hayek, Volume VI. Good Money, Part II: The Standard. Chicago: University of Chicago Press. Hayek, F. A. 1937b. “Economics and Knowledge.” Economica 4: 33–54. Hayek, F. A. 1978. “The Place of Menger’s Grunds€atze in the History of Economic Thought.” In Hayek, New Studies in Philosophy, Politics and Economics and the History of Ideas, 27–82. London: Routledge & Kegan Paul. Hayek, F. A. 2014. The Collected Works of F. A. Hayek Volume XV. The Market and Other Orders. Edited by Bruce Caldwell. Chicago: The University of Chicago Press. Leeson, R. 2013. Hayek: A Collaborative Biography, Part 1: Influences, From Mises to Bartley. London: Palgrave Macmillan. Stigler, G. J. 1982. The Economist as Preacher. Oxford: Blackwell. Streissler, E. 1972. “To What Extent Was the Austrian School Marginalist?” History of Political Economy 4: 426–441.
{"title":"Interest and Capital: The Monetary Economics of Michał Kalecki","authors":"J. Courvisanos","doi":"10.1080/10370196.2023.2220593","DOIUrl":"https://doi.org/10.1080/10370196.2023.2220593","url":null,"abstract":"Chicago Press. Caldwell, B. 2007. “Life Writings: On-the-Job Training with F. A. Hayek.” History of Political Economy 39 (annual supplement): 342–354. Caldwell, B. 2016. “F. A. Hayek and the Economic Calculus.” History of Political Economy 48 (1): 151–180. Cubitt, C. E. 2006. A Life of Friedrich August von Hayek. Gamlingway: Authors OnLine. Ebenstein, A. 2003. Friedrich Hayek: A Biography. Chicago: University of Chicago Press. Groenewegen, P. D. 1995. A Soaring Eagle: Alfred Marshall (1842–1924). Cheltenham UK: Elgar. Harper, D. A., and A. M. Endres. 2022. “Menger’s Precursors in the German Subjective-Value Tradition and His Advancements in the Theory of Wants and Goods.” The Review of Austrian Economics 2022, 5. doi:10.1007/s11138-022-00598-5. Hayek, F. A. 1934. “Carl Menger.” Economica 1: 393–420. Hayek, F. A. 1937a. “Monetary Nationalism and International Stability.” London, reprinted in S. Kresge. (ed). The Collected Works of F. A. Hayek, Volume VI. Good Money, Part II: The Standard. Chicago: University of Chicago Press. Hayek, F. A. 1937b. “Economics and Knowledge.” Economica 4: 33–54. Hayek, F. A. 1978. “The Place of Menger’s Grunds€atze in the History of Economic Thought.” In Hayek, New Studies in Philosophy, Politics and Economics and the History of Ideas, 27–82. London: Routledge & Kegan Paul. Hayek, F. A. 2014. The Collected Works of F. A. Hayek Volume XV. The Market and Other Orders. Edited by Bruce Caldwell. Chicago: The University of Chicago Press. Leeson, R. 2013. Hayek: A Collaborative Biography, Part 1: Influences, From Mises to Bartley. London: Palgrave Macmillan. Stigler, G. J. 1982. The Economist as Preacher. Oxford: Blackwell. Streissler, E. 1972. “To What Extent Was the Austrian School Marginalist?” History of Political Economy 4: 426–441.","PeriodicalId":143586,"journal":{"name":"History of Economics Review","volume":"101 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-05-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128249284","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-05-04DOI: 10.1080/10370196.2023.2234537
A. Millmow
Abstract Economists, it seems, should be guarded about having their likeness taken for posterity. The end product is not as predictable as the legacies they leave behind. This article discusses such possibilities with the two portraits undertaken by two different artists of the leading figures of interwar and postwar Australian economics.
{"title":"Pomp and Peculiarity: How Two Portraits Epitomized the Repute of Two Eminent Australian Economists","authors":"A. Millmow","doi":"10.1080/10370196.2023.2234537","DOIUrl":"https://doi.org/10.1080/10370196.2023.2234537","url":null,"abstract":"Abstract Economists, it seems, should be guarded about having their likeness taken for posterity. The end product is not as predictable as the legacies they leave behind. This article discusses such possibilities with the two portraits undertaken by two different artists of the leading figures of interwar and postwar Australian economics.","PeriodicalId":143586,"journal":{"name":"History of Economics Review","volume":"53 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-05-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133814147","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-05-04DOI: 10.1080/10370196.2023.2218203
William A. Darity, Jr., M’Balou Camara, Nancy Maclean
Abstract In their stormy response to Nancy MacLean's book Democracy in Chains, some academics on the libertarian right have conducted a concerted defense of Nobel Laureate James Buchanan's credentials as an anti-racist, or at least a non-racist. An odd component of their argument is a claim of innocence by association: the peripatetic South African economist and Mont Pelerin Society founding member William Harold Hutt was against apartheid; Buchanan was a friend and supporter of Hutt; therefore, Buchanan could not have been abetting segregationists with his support for public funding of segregated private schools. At the core of this chain of argument is the inference that Hutt's opposition to apartheid proves that Hutt himself was committed to racial equality. However, just as there were white supremacists who opposed slavery in the United States, we demonstrate Hutt was a white supremacist who opposed apartheid in South Africa. We document how Hutt embraced notions of black inferiority, even in The Economics of the Colour Bar, his most ferocious attack on apartheid. Whether or not innocence by association is a sound defense of anyone's ideology or conduct, Hutt, himself, was not innocent of white supremacy.
在对南希·麦克莱恩(Nancy MacLean)的著作《枷锁中的民主》(Democracy In Chains)的激烈回应中，一些自由主义右翼学者一致为诺贝尔奖得主詹姆斯·布坎南(James Buchanan)作为反种族主义者，或至少是非种族主义者的资格进行了辩护。在他们的论点中，一个奇怪的部分是他们声称自己是清白的:四处游走的南非经济学家、圣山山协会创始成员威廉•哈罗德•赫特反对种族隔离;布坎南是赫特的朋友和支持者;因此，布坎南支持为实行种族隔离的私立学校提供公共资金，不可能是在教唆种族隔离主义者。这一连串论点的核心是这样一个推论:赫特反对种族隔离证明了赫特本人致力于种族平等。然而，正如美国有反对奴隶制的白人至上主义者一样，我们证明赫特是一个反对南非种族隔离的白人至上主义者。我们记录了赫特是如何接受黑人低人一等的观念的，甚至在他对种族隔离最猛烈的攻击——《有色人种的经济学》(The Economics of The color Bar)中也是如此。不管被联想到的清白是否是对任何人的意识形态或行为的有力辩护，赫特本人在白人至上主义面前并非清白。
{"title":"Locking in Racial Disadvantage in Libertarian Political Economy: The Case of W. H. Hutt and South Africa","authors":"William A. Darity, Jr., M’Balou Camara, Nancy Maclean","doi":"10.1080/10370196.2023.2218203","DOIUrl":"https://doi.org/10.1080/10370196.2023.2218203","url":null,"abstract":"Abstract In their stormy response to Nancy MacLean's book Democracy in Chains, some academics on the libertarian right have conducted a concerted defense of Nobel Laureate James Buchanan's credentials as an anti-racist, or at least a non-racist. An odd component of their argument is a claim of innocence by association: the peripatetic South African economist and Mont Pelerin Society founding member William Harold Hutt was against apartheid; Buchanan was a friend and supporter of Hutt; therefore, Buchanan could not have been abetting segregationists with his support for public funding of segregated private schools. At the core of this chain of argument is the inference that Hutt's opposition to apartheid proves that Hutt himself was committed to racial equality. However, just as there were white supremacists who opposed slavery in the United States, we demonstrate Hutt was a white supremacist who opposed apartheid in South Africa. We document how Hutt embraced notions of black inferiority, even in The Economics of the Colour Bar, his most ferocious attack on apartheid. Whether or not innocence by association is a sound defense of anyone's ideology or conduct, Hutt, himself, was not innocent of white supremacy.","PeriodicalId":143586,"journal":{"name":"History of Economics Review","volume":"85 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-05-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131321829","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-05-04DOI: 10.1080/10370196.2023.2235150
Harry Bloch, John Hawkins
{"title":"Note from the Editors","authors":"Harry Bloch, John Hawkins","doi":"10.1080/10370196.2023.2235150","DOIUrl":"https://doi.org/10.1080/10370196.2023.2235150","url":null,"abstract":"","PeriodicalId":143586,"journal":{"name":"History of Economics Review","volume":"3 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-05-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"136375134","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-01-02DOI: 10.1080/10370196.2023.2175954
P. Dixon
Abstract David Evans was an Australian who completed a path-breaking PhD thesis at Harvard in 1968 under the supervision of Wassily Leontief. The thesis set out Australia’s first computable general equilibrium (CGE) model, with an application to an analysis of Australia’s then policy of high tariffs. David returned to Australia in 1968 but left in 1973 and spent the rest of his career in the UK. Despite his relatively brief time working in Australia, David was a major contributor to Australian economics. In this paper, I start with a few personal reminiscences about David. Then I explain how the Evans model worked, and its limitations. This is followed by a description of what happened in Australian CGE research in the 1970s, post-Evans. Since then, Australia has become well known in this field. The international reach of Australian CGE modelling is described briefly in the final part of the paper.
{"title":"H. David Evans, 1941–2022: Progenitor of Computable General Equilibrium Modelling in Australia","authors":"P. Dixon","doi":"10.1080/10370196.2023.2175954","DOIUrl":"https://doi.org/10.1080/10370196.2023.2175954","url":null,"abstract":"Abstract David Evans was an Australian who completed a path-breaking PhD thesis at Harvard in 1968 under the supervision of Wassily Leontief. The thesis set out Australia’s first computable general equilibrium (CGE) model, with an application to an analysis of Australia’s then policy of high tariffs. David returned to Australia in 1968 but left in 1973 and spent the rest of his career in the UK. Despite his relatively brief time working in Australia, David was a major contributor to Australian economics. In this paper, I start with a few personal reminiscences about David. Then I explain how the Evans model worked, and its limitations. This is followed by a description of what happened in Australian CGE research in the 1970s, post-Evans. Since then, Australia has become well known in this field. The international reach of Australian CGE modelling is described briefly in the final part of the paper.","PeriodicalId":143586,"journal":{"name":"History of Economics Review","volume":"83 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-01-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124767659","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-01-02DOI: 10.1080/10370196.2022.2152614
R. Petridis
Economic Literature 21 (4): 1495–1497. Norman, N 2022. “Tribute to Geoff Harcourt.” Paper read to 33rd History of Economic Thought Society Annual Conference, Melbourne, September. Piketty, T. 2014. Capital in the Twenty-First Century. Translated by A. Goldhammer. Cambridge, MA: Harvard University Press. Robinson, J. 1953. “The Production Function and the Theory of Capital.” The Review of Economic Studies 21 (2): 81–106. doi:10.2307/2296002. Robinson, J. 1956. The Accumulation of Capital. London: Macmillan. Romer, P. 1994. “The Origins of Endogenous Growth.” Journal of Economic Perspectives 8 (1): 3–22. doi:10.1257/jep.8.1.3. Russell, D. 2022. “Geoffrey Harcourt: Tribute.” History of Economics Review 81 (1): 6–7. doi:10.1080/ 10370196.2022.2045154. Stiglitz, J. 1974. “The Cambridge-Cambridge Controversy in the Theory of Capital: A View from New Haven: A Review Article.” Journal of Political Economy 82 (4): 893–903. doi:10.1086/260245.
{"title":"The Macroeconomics of Malthus","authors":"R. Petridis","doi":"10.1080/10370196.2022.2152614","DOIUrl":"https://doi.org/10.1080/10370196.2022.2152614","url":null,"abstract":"Economic Literature 21 (4): 1495–1497. Norman, N 2022. “Tribute to Geoff Harcourt.” Paper read to 33rd History of Economic Thought Society Annual Conference, Melbourne, September. Piketty, T. 2014. Capital in the Twenty-First Century. Translated by A. Goldhammer. Cambridge, MA: Harvard University Press. Robinson, J. 1953. “The Production Function and the Theory of Capital.” The Review of Economic Studies 21 (2): 81–106. doi:10.2307/2296002. Robinson, J. 1956. The Accumulation of Capital. London: Macmillan. Romer, P. 1994. “The Origins of Endogenous Growth.” Journal of Economic Perspectives 8 (1): 3–22. doi:10.1257/jep.8.1.3. Russell, D. 2022. “Geoffrey Harcourt: Tribute.” History of Economics Review 81 (1): 6–7. doi:10.1080/ 10370196.2022.2045154. Stiglitz, J. 1974. “The Cambridge-Cambridge Controversy in the Theory of Capital: A View from New Haven: A Review Article.” Journal of Political Economy 82 (4): 893–903. doi:10.1086/260245.","PeriodicalId":143586,"journal":{"name":"History of Economics Review","volume":"42 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-01-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129704962","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-01-02DOI: 10.1080/10370196.2023.2188666
M. McLure
{"title":"Constructing Economic Science: The Invention of a Discipline 1850–1950","authors":"M. McLure","doi":"10.1080/10370196.2023.2188666","DOIUrl":"https://doi.org/10.1080/10370196.2023.2188666","url":null,"abstract":"","PeriodicalId":143586,"journal":{"name":"History of Economics Review","volume":"32 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-01-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121861893","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-01-02DOI: 10.1080/10370196.2022.2149130
D. Nomidis
Abstract This study highlights the deep influence that Cournot’s economic thought had on subsequent neoclassical and mainstream economics. Cournot’s idea for price stability and perfect competition through an infinite number of firms, each of inappreciable production that cannot affect the price, has been fully adopted by subsequent neoclassical theorists and embodied in today’s mainstream economics. But, in the passage of this idea from Cournot to neoclassical economics, there was a misinterpretation of this price stability condition that led neoclassical economics to the notion of price taking and horizontal demand curve for the individual firm, while Cournot himself considered this individual demand curve to be sloping. This misconception led neoclassical and mainstream economics to erroneous models and outcomes. The most serious implication is that the equilibrium price in perfect competition is not at the minimum average cost, as neoclassical economics argues, but at a higher cost, which, in turn, has further implications for social welfare.
{"title":"Revisiting Cournot and Neoclassical Economics","authors":"D. Nomidis","doi":"10.1080/10370196.2022.2149130","DOIUrl":"https://doi.org/10.1080/10370196.2022.2149130","url":null,"abstract":"Abstract This study highlights the deep influence that Cournot’s economic thought had on subsequent neoclassical and mainstream economics. Cournot’s idea for price stability and perfect competition through an infinite number of firms, each of inappreciable production that cannot affect the price, has been fully adopted by subsequent neoclassical theorists and embodied in today’s mainstream economics. But, in the passage of this idea from Cournot to neoclassical economics, there was a misinterpretation of this price stability condition that led neoclassical economics to the notion of price taking and horizontal demand curve for the individual firm, while Cournot himself considered this individual demand curve to be sloping. This misconception led neoclassical and mainstream economics to erroneous models and outcomes. The most serious implication is that the equilibrium price in perfect competition is not at the minimum average cost, as neoclassical economics argues, but at a higher cost, which, in turn, has further implications for social welfare.","PeriodicalId":143586,"journal":{"name":"History of Economics Review","volume":"354 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-01-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126687629","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-01-02DOI: 10.1080/10370196.2023.2195256
J. Creedy
Abstract This paper describes J. A. C. (Alan) Brown’s contribution to early economic modelling and applied econometrics in the UK. This involved pioneering work, including the early application of programmable computers to linear programming and optimal diets, demand analysis (including Engel curves and probit analysis), and large-scale economic modelling which integrates National Income accounting methods, input-output matrices, and demand projections. His joint book on the lognormal distribution, its application to a range of economic contexts, and associated estimation problems, written with John Aitchison, continues to be widely cited. His influence, through his undergraduate teaching and graduate supervision, is also shown to be of much value.
{"title":"J. A. C. Brown: Early Economic Modelling and Applied Econometrics in the UK","authors":"J. Creedy","doi":"10.1080/10370196.2023.2195256","DOIUrl":"https://doi.org/10.1080/10370196.2023.2195256","url":null,"abstract":"Abstract This paper describes J. A. C. (Alan) Brown’s contribution to early economic modelling and applied econometrics in the UK. This involved pioneering work, including the early application of programmable computers to linear programming and optimal diets, demand analysis (including Engel curves and probit analysis), and large-scale economic modelling which integrates National Income accounting methods, input-output matrices, and demand projections. His joint book on the lognormal distribution, its application to a range of economic contexts, and associated estimation problems, written with John Aitchison, continues to be widely cited. His influence, through his undergraduate teaching and graduate supervision, is also shown to be of much value.","PeriodicalId":143586,"journal":{"name":"History of Economics Review","volume":"10 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-01-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127041482","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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