Pub Date : 2024-04-12DOI: 10.1215/00182702-11242717
Edward Nelson
A series of research papers that appeared from 2000 to 2009 made the case that the UK authorities in the 1950s, 1960s, and 1970s eschewed Phillips-curve-based analysis and that, consequently, the UK Great Inflation of the 1970s should not be regarded as resulting from policymakers’ pursuit of a perceived long-run inflation/unemployment trade-off. The position advanced in these 2000−2009 papers was that, instead, UK economic policy until 1979 subscribed to a nonmonetary perspective on inflation. This perspective implied UK authorities’ rejection of Phillips-curve-type trade-off analysis, but it also meant that they misjudged the importance of monetary policy in inflation control, thereby compounding the country's inflation problem. When this series of papers began to appear at the start of the 2000s, the trade-off-centered interpretation of the US Great Inflation was highly prevalent and was also being applied to the UK Great Inflation. By late in the decade, however, the case—as outlined in the 2000−2009 papers—against Phillips-curve-based accounts of historical policy conduct had gained notable acceptance among central bankers and academic researchers who discussed the UK Great Inflation. This article corrects erroneous statements that the challenge to Phillips-curve-based accounts of historical UK policymaker behavior only appeared in research starting in the 2010s.
{"title":"The Challenge in 2000–2009 to Phillips-Curve-Based Accounts of UK Economic Policy: Comment on Cristiano","authors":"Edward Nelson","doi":"10.1215/00182702-11242717","DOIUrl":"https://doi.org/10.1215/00182702-11242717","url":null,"abstract":"\u0000 A series of research papers that appeared from 2000 to 2009 made the case that the UK authorities in the 1950s, 1960s, and 1970s eschewed Phillips-curve-based analysis and that, consequently, the UK Great Inflation of the 1970s should not be regarded as resulting from policymakers’ pursuit of a perceived long-run inflation/unemployment trade-off. The position advanced in these 2000−2009 papers was that, instead, UK economic policy until 1979 subscribed to a nonmonetary perspective on inflation. This perspective implied UK authorities’ rejection of Phillips-curve-type trade-off analysis, but it also meant that they misjudged the importance of monetary policy in inflation control, thereby compounding the country's inflation problem. When this series of papers began to appear at the start of the 2000s, the trade-off-centered interpretation of the US Great Inflation was highly prevalent and was also being applied to the UK Great Inflation. By late in the decade, however, the case—as outlined in the 2000−2009 papers—against Phillips-curve-based accounts of historical policy conduct had gained notable acceptance among central bankers and academic researchers who discussed the UK Great Inflation. This article corrects erroneous statements that the challenge to Phillips-curve-based accounts of historical UK policymaker behavior only appeared in research starting in the 2010s.","PeriodicalId":47043,"journal":{"name":"History of Political Economy","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2024-04-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140712557","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"历史学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-04-12DOI: 10.1215/00182702-11242725
Matheus Assaf
{"title":"A History of Brazilian Economic Thought: From Colonial Times through the Early 21st Century ed. by Ricardo Bielschowsky, Mauro Boianovsky, and Mauricio C. Coutinho","authors":"Matheus Assaf","doi":"10.1215/00182702-11242725","DOIUrl":"https://doi.org/10.1215/00182702-11242725","url":null,"abstract":"","PeriodicalId":47043,"journal":{"name":"History of Political Economy","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2024-04-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140710840","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"历史学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-04-12DOI: 10.1215/00182702-11242733
Nathalie Sigot
This article reconstructs the debates on the woman question in which nineteenth-century French liberal economists participated: it aims at showing that their analysis contradicted their conviction that, in Bastiat's words, “men's interests, when left to themselves, tend to . . . work together for progress and the general good.” Indeed, French liberals are usually labeled optimistic: they denounced the pessimistic and fatalist character of the “English school of economics” based on Ricardo's rent theory and Malthus's law of population. On the contrary, they attempted to prove that economic development improved the situation of all, especially that of workers. However, their optimism did not extend to their analysis of the situation of women: most of them recognized that women were not benefiting from the general improvement in terms of wages, labor conditions, and social mobility. The article then shows that the reasons they gave to explain the bad situation of women present many challenges, linked respectively to the issue of state intervention and wage theory. Moreover, it is unlikely that the only solution they proposed for improving it, that is, the promotion of female education, could have worked.
{"title":"Nineteenth-Century French Liberal Economists and Women's Work: The Dark Side of Industrialization","authors":"Nathalie Sigot","doi":"10.1215/00182702-11242733","DOIUrl":"https://doi.org/10.1215/00182702-11242733","url":null,"abstract":"\u0000 This article reconstructs the debates on the woman question in which nineteenth-century French liberal economists participated: it aims at showing that their analysis contradicted their conviction that, in Bastiat's words, “men's interests, when left to themselves, tend to . . . work together for progress and the general good.” Indeed, French liberals are usually labeled optimistic: they denounced the pessimistic and fatalist character of the “English school of economics” based on Ricardo's rent theory and Malthus's law of population. On the contrary, they attempted to prove that economic development improved the situation of all, especially that of workers. However, their optimism did not extend to their analysis of the situation of women: most of them recognized that women were not benefiting from the general improvement in terms of wages, labor conditions, and social mobility. The article then shows that the reasons they gave to explain the bad situation of women present many challenges, linked respectively to the issue of state intervention and wage theory. Moreover, it is unlikely that the only solution they proposed for improving it, that is, the promotion of female education, could have worked.","PeriodicalId":47043,"journal":{"name":"History of Political Economy","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2024-04-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140708922","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"历史学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-03-06DOI: 10.1215/00182702-11156232
R. Backhouse
{"title":"MIT and the Origins of the Modern Theory of Asset Pricing","authors":"R. Backhouse","doi":"10.1215/00182702-11156232","DOIUrl":"https://doi.org/10.1215/00182702-11156232","url":null,"abstract":"","PeriodicalId":47043,"journal":{"name":"History of Political Economy","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2024-03-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140262951","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"历史学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-03-06DOI: 10.1215/00182702-11156240
Erwin Dekker
{"title":"Staatswissenschaften and the Mathematical Policy Science of Jan Tinbergen","authors":"Erwin Dekker","doi":"10.1215/00182702-11156240","DOIUrl":"https://doi.org/10.1215/00182702-11156240","url":null,"abstract":"","PeriodicalId":47043,"journal":{"name":"History of Political Economy","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2024-03-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140262971","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"历史学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-03-06DOI: 10.1215/00182702-11156200
Yann Giraud
{"title":"Visualization or Mathematization? The London School of Economics and “Diagrammatic Economics” in the 1930s","authors":"Yann Giraud","doi":"10.1215/00182702-11156200","DOIUrl":"https://doi.org/10.1215/00182702-11156200","url":null,"abstract":"","PeriodicalId":47043,"journal":{"name":"History of Political Economy","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2024-03-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140077730","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"历史学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-03-06DOI: 10.1215/00182702-11158675
Gianluca Damiani
{"title":"Setting the Stage for Disciplinary Transformations: Riker, McKenzie, and the Case of the University of Rochester","authors":"Gianluca Damiani","doi":"10.1215/00182702-11158675","DOIUrl":"https://doi.org/10.1215/00182702-11158675","url":null,"abstract":"","PeriodicalId":47043,"journal":{"name":"History of Political Economy","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2024-03-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140261508","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"历史学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-03-06DOI: 10.1215/00182702-11156216
Ivan Boldyrev
{"title":"The Frame for the Not-Yet Existent: How American, European, and Soviet Scholars Jointly Shaped Modern Mathematical Economics","authors":"Ivan Boldyrev","doi":"10.1215/00182702-11156216","DOIUrl":"https://doi.org/10.1215/00182702-11156216","url":null,"abstract":"","PeriodicalId":47043,"journal":{"name":"History of Political Economy","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2024-03-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140261663","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"历史学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-03-06DOI: 10.1215/00182702-11156224
Matheus Assaf
{"title":"Applying Pure Mathematics: IMPA and the Entanglements of Mathematical Economics in Brazil","authors":"Matheus Assaf","doi":"10.1215/00182702-11156224","DOIUrl":"https://doi.org/10.1215/00182702-11156224","url":null,"abstract":"","PeriodicalId":47043,"journal":{"name":"History of Political Economy","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2024-03-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140078204","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"历史学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2024-03-06DOI: 10.1215/00182702-11156192
Juan Carvajalino, T. Mueller
{"title":"Local Entanglements in the History of Mathematical Economics","authors":"Juan Carvajalino, T. Mueller","doi":"10.1215/00182702-11156192","DOIUrl":"https://doi.org/10.1215/00182702-11156192","url":null,"abstract":"","PeriodicalId":47043,"journal":{"name":"History of Political Economy","volume":null,"pages":null},"PeriodicalIF":0.7,"publicationDate":"2024-03-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140261880","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"历史学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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