Pub Date : 2023-03-10DOI: 10.1017/S1053837221000584
J. Aldrich
Arthur Pigou’s welfare treatises are exercises in practical ethics. The exercises were founded on the ethical concepts of good and economic welfare with the economist’s national dividend providing the practical instrument for solving economic problems. This paper follows this triad from its origins in Pigou’s earliest writings on ethics and economic policy, into the welfare treatises, and onto his last writings—a period of around fifty years.
{"title":"GOOD, ECONOMIC WELFARE, AND THE NATIONAL DIVIDEND—PIGOU’S WELFARE TRIAD","authors":"J. Aldrich","doi":"10.1017/S1053837221000584","DOIUrl":"https://doi.org/10.1017/S1053837221000584","url":null,"abstract":"Arthur Pigou’s welfare treatises are exercises in practical ethics. The exercises were founded on the ethical concepts of good and economic welfare with the economist’s national dividend providing the practical instrument for solving economic problems. This paper follows this triad from its origins in Pigou’s earliest writings on ethics and economic policy, into the welfare treatises, and onto his last writings—a period of around fifty years.","PeriodicalId":45456,"journal":{"name":"Journal of the History of Economic Thought","volume":"45 1","pages":"403 - 426"},"PeriodicalIF":0.9,"publicationDate":"2023-03-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45245541","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-03-06DOI: 10.1017/S1053837222000694
M. Bankovsky
{"title":"Tad Skotnicki, The Sympathetic Consumer: Moral Critique in Capitalist Culture (Palo Alto: Stanford University Press, 2021), pp. 280, $90 (hardcover). ISBN: 9781503614635.","authors":"M. Bankovsky","doi":"10.1017/S1053837222000694","DOIUrl":"https://doi.org/10.1017/S1053837222000694","url":null,"abstract":"","PeriodicalId":45456,"journal":{"name":"Journal of the History of Economic Thought","volume":"45 1","pages":"523 - 527"},"PeriodicalIF":0.9,"publicationDate":"2023-03-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43764101","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-03-06DOI: 10.1017/s1053837222000438
G. Pavanelli
Luigi Einaudi was an authoritative Italian economist and a leading representative of economic and political liberalism in Europe. After the Second World War, he became governor of the Bank of Italy and president of the Italian Republic. This paper analyzes his role as opinion maker from the end of the nineteenth century until the 1920s, when he was a leading columnist at La Stampa and the Corriere della Sera, the most influential newspapers in Italy at that time. It focuses on the scope and limits of Einaudi’s efforts to broaden consensus in Italian public opinion on the principles of economic liberalism and free competition. To this end, it investigates Einaudi’s journalistic style, his views on the role of the newspapers, and his large following among the public. Further sections analyze the main issues tackled by Einaudi in his articles in the Corriere and the systematic work of propaganda he enacted during World War I to convince the Italian households to reduce consumption and to finance the military expenditure. A final section deals with the “reconstruction program” devised by Einaudi in the early 1920s with the aim of restoring price stability and fiscal restraint, his efforts in the Corriere to propagate this program, and his forced retreat from journalism after the beginning of the fascist regime in 1924–25.
{"title":"THE ECONOMISTS AND THE PRESS IN ITALY FROM THE END OF THE NINETEENTH CENTURY UNTIL FASCISM: THE CASE OF LUIGI EINAUDI","authors":"G. Pavanelli","doi":"10.1017/s1053837222000438","DOIUrl":"https://doi.org/10.1017/s1053837222000438","url":null,"abstract":"Luigi Einaudi was an authoritative Italian economist and a leading representative of economic and political liberalism in Europe. After the Second World War, he became governor of the Bank of Italy and president of the Italian Republic. This paper analyzes his role as opinion maker from the end of the nineteenth century until the 1920s, when he was a leading columnist at La Stampa and the Corriere della Sera, the most influential newspapers in Italy at that time. It focuses on the scope and limits of Einaudi’s efforts to broaden consensus in Italian public opinion on the principles of economic liberalism and free competition. To this end, it investigates Einaudi’s journalistic style, his views on the role of the newspapers, and his large following among the public. Further sections analyze the main issues tackled by Einaudi in his articles in the Corriere and the systematic work of propaganda he enacted during World War I to convince the Italian households to reduce consumption and to finance the military expenditure. A final section deals with the “reconstruction program” devised by Einaudi in the early 1920s with the aim of restoring price stability and fiscal restraint, his efforts in the Corriere to propagate this program, and his forced retreat from journalism after the beginning of the fascist regime in 1924–25.","PeriodicalId":45456,"journal":{"name":"Journal of the History of Economic Thought","volume":" ","pages":""},"PeriodicalIF":0.9,"publicationDate":"2023-03-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48857703","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-03-03DOI: 10.1017/S1053837222000244
E. Heath
In his lectures of 1978–79, published posthumously as The Birth of Biopolitics, Michel Foucault addressed versions of liberalism in which an invisible market appears immune to government intervention. Among the thinkers discussed were Adam Smith and Adam Ferguson. This essay offers critical reflections on Foucault’s description of Smith as emphasizing the invisibility of the economy, as well as on Foucault’s interpretation of the “invisible hand” and his ascription of egoism to Smith’s economic agents. Foucault also appeals to Ferguson’s notion of civil society to resolve incompatibilities between economic agents and the sovereign. However, Ferguson’s theory of society does not provide the assistance that Foucault thinks it does. Moreover, like Smith, Ferguson holds no egoistic view of economic motivation. Nonetheless, and surprisingly, Foucault would have found enticing Ferguson’s use of conjectural history, with its appeal to the unintended, contingent, and conflictual basis of social change.
米歇尔·福柯（Michel Foucault）在其1978–79年的演讲中，以《生物政治学的诞生》（The Birth of Biopolitics）的名义发表，他谈到了自由主义的各个版本，在这些版本中，一个看不见的市场似乎不受政府干预。讨论的思想家包括亚当·斯密和亚当·弗格森。本文对福柯对史密斯强调经济的不可见性的描述，以及福柯对“看不见的手”的解释和他对史密斯经济代理人的利己主义归属进行了批判性反思。福柯还呼吁弗格森的公民社会概念来解决经济代理人和君主之间的矛盾。然而，弗格森的社会理论并没有像福柯认为的那样提供帮助。此外，和史密斯一样，弗格森对经济动机不持利己主义观点。尽管如此，令人惊讶的是，福柯会发现弗格森对推测历史的使用很有吸引力，因为它吸引了社会变革的意外、偶然和冲突的基础。
{"title":"WHAT’S NOT TO SEE? FOUCAULT ON INVISIBLE POLITICAL ECONOMY IN ADAM SMITH AND ADAM FERGUSON","authors":"E. Heath","doi":"10.1017/S1053837222000244","DOIUrl":"https://doi.org/10.1017/S1053837222000244","url":null,"abstract":"In his lectures of 1978–79, published posthumously as The Birth of Biopolitics, Michel Foucault addressed versions of liberalism in which an invisible market appears immune to government intervention. Among the thinkers discussed were Adam Smith and Adam Ferguson. This essay offers critical reflections on Foucault’s description of Smith as emphasizing the invisibility of the economy, as well as on Foucault’s interpretation of the “invisible hand” and his ascription of egoism to Smith’s economic agents. Foucault also appeals to Ferguson’s notion of civil society to resolve incompatibilities between economic agents and the sovereign. However, Ferguson’s theory of society does not provide the assistance that Foucault thinks it does. Moreover, like Smith, Ferguson holds no egoistic view of economic motivation. Nonetheless, and surprisingly, Foucault would have found enticing Ferguson’s use of conjectural history, with its appeal to the unintended, contingent, and conflictual basis of social change.","PeriodicalId":45456,"journal":{"name":"Journal of the History of Economic Thought","volume":"45 1","pages":"321 - 342"},"PeriodicalIF":0.9,"publicationDate":"2023-03-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46426636","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-03-03DOI: 10.1017/s1053837222000384
Abel B.S. Gaiya
The abolition of slavery in the nineteenth and twentieth centuries was a long process. In terms of the economic views of abolitionists, there has been an excessive focus on the economic ideas of liberal abolitionists and their approach to “Civilization, Christianity, and Commerce.” However, there was a “developmental abolitionism” that has received little attention. Afro-American Martin R. Delany and Liberian James S. Payne were writers who approached abolitionism through this developmentalism. They favored more interventionist measures aimed at building the material power and national autonomy of Black nations to undercut the power of slave-using African chiefs, to provide indigenous Africans with employment, and to undermine the profitability of slave-based cotton production in the Americas. They also implicitly and indirectly approached labor scarcity with solutions ranging from promoting labor-saving technology to cultivating national prosperity that would improve emigration to Africa or increase birth rates.
{"title":"“HOW CAN I LIBERATE THE SLAVES?” THE NEGLECTED TRADITION OF DEVELOPMENTAL ABOLITIONISM","authors":"Abel B.S. Gaiya","doi":"10.1017/s1053837222000384","DOIUrl":"https://doi.org/10.1017/s1053837222000384","url":null,"abstract":"The abolition of slavery in the nineteenth and twentieth centuries was a long process. In terms of the economic views of abolitionists, there has been an excessive focus on the economic ideas of liberal abolitionists and their approach to “Civilization, Christianity, and Commerce.” However, there was a “developmental abolitionism” that has received little attention. Afro-American Martin R. Delany and Liberian James S. Payne were writers who approached abolitionism through this developmentalism. They favored more interventionist measures aimed at building the material power and national autonomy of Black nations to undercut the power of slave-using African chiefs, to provide indigenous Africans with employment, and to undermine the profitability of slave-based cotton production in the Americas. They also implicitly and indirectly approached labor scarcity with solutions ranging from promoting labor-saving technology to cultivating national prosperity that would improve emigration to Africa or increase birth rates.","PeriodicalId":45456,"journal":{"name":"Journal of the History of Economic Thought","volume":" ","pages":""},"PeriodicalIF":0.9,"publicationDate":"2023-03-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46878736","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-03-03DOI: 10.1017/S1053837222000542
Aida I. Ramos
In a discussion of wages and labor in the Wealth of Nations (WN), Adam Smith concludes: “No society can be flourishing and happy, of which the far greater part of the members are poor and miserable. It is but equity, besides, that they who feed, clothe, and lodge the whole body of the people, should have such a share of the produce of their own labour as to be themselves tolerably well fed, clothed, and lodged” (Smith [1776] 1994, WN I.viii:90).
{"title":"SMITH AT 300: ADAM SMITH ON EQUITY, SOCIETY, AND STABILITY","authors":"Aida I. Ramos","doi":"10.1017/S1053837222000542","DOIUrl":"https://doi.org/10.1017/S1053837222000542","url":null,"abstract":"In a discussion of wages and labor in the Wealth of Nations (WN), Adam Smith concludes: “No society can be flourishing and happy, of which the far greater part of the members are poor and miserable. It is but equity, besides, that they who feed, clothe, and lodge the whole body of the people, should have such a share of the produce of their own labour as to be themselves tolerably well fed, clothed, and lodged” (Smith [1776] 1994, WN I.viii:90).","PeriodicalId":45456,"journal":{"name":"Journal of the History of Economic Thought","volume":"45 1","pages":"195 - 197"},"PeriodicalIF":0.9,"publicationDate":"2023-03-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41491186","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-03-02DOI: 10.1017/S1053837222000426
B. Bateman
This comment makes a response to one of several points made in Bill Gerrrard’s (2023) criticisms of Bateman (2021) in particular, this comment clarifies Keynes’s use of mathematical expectation in The General Theory (1936).
{"title":"KEYNES, RAMSEY, AND PRAGMATISM: A COMMENT","authors":"B. Bateman","doi":"10.1017/S1053837222000426","DOIUrl":"https://doi.org/10.1017/S1053837222000426","url":null,"abstract":"This comment makes a response to one of several points made in Bill Gerrrard’s (2023) criticisms of Bateman (2021) in particular, this comment clarifies Keynes’s use of mathematical expectation in The General Theory (1936).","PeriodicalId":45456,"journal":{"name":"Journal of the History of Economic Thought","volume":"45 1","pages":"399 - 402"},"PeriodicalIF":0.9,"publicationDate":"2023-03-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46764539","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-03-02DOI: 10.1017/S1053837222000311
Bill Gerrard
In his recent paper in this journal, Bradley Bateman (2021) breaks with the “standard view” of Frank Ramsey’s influence on Jahn Maynard Keynes and argues that Ramsey’s pragmatist philosophical thought underpinned both Keynes’s acceptance of Ramsey’s subjective theory of probability and Keynes’s adoption of a narrative theory of the role of confidence in economic fluctuations in the General Theory. In this paper it is argued that Bateman is right both in emphasizing the influence of Ramsey’s pragmatist philosophy on Keynes’s thought during the development of the General Theory and afterwards and in arguing that the influence of Ramsey’s pragmatist philosophy partly explains Keynes’s emphasis on the importance of the state of confidence in Chapter 12 of the General Theory. However, it is argued that Ramsey’s pragmatist philosophy had a much greater influence on Keynes than acknowledged by Bateman. Furthermore, contra Bateman, Keynes’s move to a more pragmatist philosophical position does not imply that Keynes accepted Ramsey’s subjective theory of (measurable) probability.
{"title":"KEYNES, RAMSEY, AND PRAGMATISM","authors":"Bill Gerrard","doi":"10.1017/S1053837222000311","DOIUrl":"https://doi.org/10.1017/S1053837222000311","url":null,"abstract":"In his recent paper in this journal, Bradley Bateman (2021) breaks with the “standard view” of Frank Ramsey’s influence on Jahn Maynard Keynes and argues that Ramsey’s pragmatist philosophical thought underpinned both Keynes’s acceptance of Ramsey’s subjective theory of probability and Keynes’s adoption of a narrative theory of the role of confidence in economic fluctuations in the General Theory. In this paper it is argued that Bateman is right both in emphasizing the influence of Ramsey’s pragmatist philosophy on Keynes’s thought during the development of the General Theory and afterwards and in arguing that the influence of Ramsey’s pragmatist philosophy partly explains Keynes’s emphasis on the importance of the state of confidence in Chapter 12 of the General Theory. However, it is argued that Ramsey’s pragmatist philosophy had a much greater influence on Keynes than acknowledged by Bateman. Furthermore, contra Bateman, Keynes’s move to a more pragmatist philosophical position does not imply that Keynes accepted Ramsey’s subjective theory of (measurable) probability.","PeriodicalId":45456,"journal":{"name":"Journal of the History of Economic Thought","volume":"45 1","pages":"384 - 398"},"PeriodicalIF":0.9,"publicationDate":"2023-03-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41557590","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-03-02DOI: 10.1017/S1053837222000281
Michel S. Zouboulakis
The aim of this article is to make an overall assessment of Andreas George Papandreou’s theoretical contributions during his American academic career, from the perspective of the history of economic thought. Papandreou contributed to the postwar development of economic thought in competition theory and experimental testing of consumer theory. In developing competition theory, he introduced a new method of evaluating the monopolistic power of a firm through a coefficient measuring the firm’s penetration in the market. Furthermore, he suggested a way of experimentally testing whether individual preferences satisfy the axiom of transitivity. He actively participated in the methodological controversies on the realisticness of economic assumptions that took place between 1946 and 1953, and on the empirical meaning of economics in 1963, between Milton Friedman, Paul Samuelson, Fritz Machlup, Herbert Simon, and others.
{"title":"A. G. PAPANDREOU’S ACADEMIC ECONOMIC THOUGHT 1943–1963","authors":"Michel S. Zouboulakis","doi":"10.1017/S1053837222000281","DOIUrl":"https://doi.org/10.1017/S1053837222000281","url":null,"abstract":"The aim of this article is to make an overall assessment of Andreas George Papandreou’s theoretical contributions during his American academic career, from the perspective of the history of economic thought. Papandreou contributed to the postwar development of economic thought in competition theory and experimental testing of consumer theory. In developing competition theory, he introduced a new method of evaluating the monopolistic power of a firm through a coefficient measuring the firm’s penetration in the market. Furthermore, he suggested a way of experimentally testing whether individual preferences satisfy the axiom of transitivity. He actively participated in the methodological controversies on the realisticness of economic assumptions that took place between 1946 and 1953, and on the empirical meaning of economics in 1963, between Milton Friedman, Paul Samuelson, Fritz Machlup, Herbert Simon, and others.","PeriodicalId":45456,"journal":{"name":"Journal of the History of Economic Thought","volume":"45 1","pages":"486 - 502"},"PeriodicalIF":0.9,"publicationDate":"2023-03-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45546991","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-03-01DOI: 10.1017/s1053837223000093
{"title":"HET volume 45 issue 1 Cover and Back matter","authors":"","doi":"10.1017/s1053837223000093","DOIUrl":"https://doi.org/10.1017/s1053837223000093","url":null,"abstract":"","PeriodicalId":45456,"journal":{"name":"Journal of the History of Economic Thought","volume":"45 1","pages":"b1 - b1"},"PeriodicalIF":0.9,"publicationDate":"2023-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42964809","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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