Pub Date : 2017-11-02DOI: 10.1080/09672567.2017.1388419
Richard van den Berg
ABSTRACT This paper takes as its guide the largest compilation of commercial knowledge of the mid-eighteenth century in the English language, Malachy Postlethwayt's Universal Dictionary of Trade and Commerce (1751–1755). Using network analysis, the many cross-references between entries in this work allow one to identify clusters of themes and literatures within the mass of materials. Pictures are presented that can be interpreted as ‘mind maps’ grouping the commercial literature by various topics and themes. The paper then focuses on one novel aspect of Postlethwayt's work, i.e., his inclusion besides entries on ‘practical’ topics of ‘political’ discussions, and identifies his sources.
{"title":"‘A judicious and industrious compiler’: Mapping Postlethwayt's Dictionary of Commerce","authors":"Richard van den Berg","doi":"10.1080/09672567.2017.1388419","DOIUrl":"https://doi.org/10.1080/09672567.2017.1388419","url":null,"abstract":"ABSTRACT This paper takes as its guide the largest compilation of commercial knowledge of the mid-eighteenth century in the English language, Malachy Postlethwayt's Universal Dictionary of Trade and Commerce (1751–1755). Using network analysis, the many cross-references between entries in this work allow one to identify clusters of themes and literatures within the mass of materials. Pictures are presented that can be interpreted as ‘mind maps’ grouping the commercial literature by various topics and themes. The paper then focuses on one novel aspect of Postlethwayt's work, i.e., his inclusion besides entries on ‘practical’ topics of ‘political’ discussions, and identifies his sources.","PeriodicalId":51791,"journal":{"name":"European Journal of the History of Economic Thought","volume":"24 1","pages":"1167 - 1213"},"PeriodicalIF":0.7,"publicationDate":"2017-11-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/09672567.2017.1388419","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"59594301","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 : 2017-09-03DOI: 10.1080/09672567.2017.1366127
K. Tribe
{"title":"Essay on the Nature of Trade in General. A Variorum Edition, by Richard Cantillon, edited by Richard van den Berg / Essay on the Nature of Trade in General, by Richard Cantillon, edited by Antoin E. Murphy","authors":"K. Tribe","doi":"10.1080/09672567.2017.1366127","DOIUrl":"https://doi.org/10.1080/09672567.2017.1366127","url":null,"abstract":"","PeriodicalId":51791,"journal":{"name":"European Journal of the History of Economic Thought","volume":"24 1","pages":"1107 - 1109"},"PeriodicalIF":0.7,"publicationDate":"2017-09-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/09672567.2017.1366127","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"59594240","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 : 2017-03-31DOI: 10.1080/09672567.2017.1305142
R. Middleton
{"title":"Macroeconomics and the Phillips Curve Myth, by James Forder","authors":"R. Middleton","doi":"10.1080/09672567.2017.1305142","DOIUrl":"https://doi.org/10.1080/09672567.2017.1305142","url":null,"abstract":"","PeriodicalId":51791,"journal":{"name":"European Journal of the History of Economic Thought","volume":"24 1","pages":"591 - 597"},"PeriodicalIF":0.7,"publicationDate":"2017-03-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/09672567.2017.1305142","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"59594196","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 : 2017-03-04DOI: 10.1080/09672567.2017.1285121
Philippe van Basshuysen
{"title":"The World the Game Theorists Made, by Paul Erickson","authors":"Philippe van Basshuysen","doi":"10.1080/09672567.2017.1285121","DOIUrl":"https://doi.org/10.1080/09672567.2017.1285121","url":null,"abstract":"","PeriodicalId":51791,"journal":{"name":"European Journal of the History of Economic Thought","volume":"24 1","pages":"403 - 406"},"PeriodicalIF":0.7,"publicationDate":"2017-03-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/09672567.2017.1285121","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"59594189","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 : 2016-03-03DOI: 10.1080/09672567.2015.1127692
Richard van den Berg
{"title":"Economics and Other Branches – In the Shade of the Oak Tree: Essays in Honour of Pascal Bridel, edited by Roberto Baranzini and François Allison","authors":"Richard van den Berg","doi":"10.1080/09672567.2015.1127692","DOIUrl":"https://doi.org/10.1080/09672567.2015.1127692","url":null,"abstract":"","PeriodicalId":51791,"journal":{"name":"European Journal of the History of Economic Thought","volume":"23 1","pages":"323 - 326"},"PeriodicalIF":0.7,"publicationDate":"2016-03-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/09672567.2015.1127692","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"59594131","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 : 2015-03-04DOI: 10.1080/09672567.2013.792371
Daniela Donnini Macciò
Abstract The paper discusses Ralph Hawtrey's critical approach to welfare economics. Hawtrey, one of the Cambridge Apostles, was deeply influenced by the ethical philosophy of G.E. Moore. First in The Economic Problem (1926), and then in several other writings, Hawtrey denounced contemporary economics as lacking in ethical foundations, and, accordingly, regarded the individualist economic system as morally unsatisfactory. Hawtrey's approach is compared to that of a contemporary Apostle and Cambridge economist, Gerald Shove. Hawtrey's and Shove's tentative applications of Moore's philosophy to economics and political science, respectively, provide intriguing evidence of a neglected Moorean undercurrent in Cambridge social sciences.
{"title":"G.E. Moore's philosophy and Cambridge economics: Ralph Hawtrey on ethics and methodology","authors":"Daniela Donnini Macciò","doi":"10.1080/09672567.2013.792371","DOIUrl":"https://doi.org/10.1080/09672567.2013.792371","url":null,"abstract":"Abstract The paper discusses Ralph Hawtrey's critical approach to welfare economics. Hawtrey, one of the Cambridge Apostles, was deeply influenced by the ethical philosophy of G.E. Moore. First in The Economic Problem (1926), and then in several other writings, Hawtrey denounced contemporary economics as lacking in ethical foundations, and, accordingly, regarded the individualist economic system as morally unsatisfactory. Hawtrey's approach is compared to that of a contemporary Apostle and Cambridge economist, Gerald Shove. Hawtrey's and Shove's tentative applications of Moore's philosophy to economics and political science, respectively, provide intriguing evidence of a neglected Moorean undercurrent in Cambridge social sciences.","PeriodicalId":51791,"journal":{"name":"European Journal of the History of Economic Thought","volume":"22 1","pages":"163 - 197"},"PeriodicalIF":0.7,"publicationDate":"2015-03-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/09672567.2013.792371","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"59594289","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 : 2014-09-03DOI: 10.1080/09672567.2014.881896
Rodolphe Dos Santos Ferreira
Abstract The paper suggests a new Keynesian model of the General Theory. A reduced form entails a diagram with three curves relating employment and the real wage, which represent the two fundamental classical postulates and the principle of effective demand. This diagram illustrates better than IS–LM the generality of Keynes's theory, clarifying the distinction between voluntary and involuntary unemployment. Other significant features are the role of the distribution of expected interest rates among heterogeneous agents, whether dispersed or concentrated, in shaping the LM curve, as well as the role of wage competitiveness constraints as a foundation of Keynes's relative wage hypothesis.
{"title":"Mr Keynes, the Classics and the new Keynesians: A suggested formalisation","authors":"Rodolphe Dos Santos Ferreira","doi":"10.1080/09672567.2014.881896","DOIUrl":"https://doi.org/10.1080/09672567.2014.881896","url":null,"abstract":"Abstract The paper suggests a new Keynesian model of the General Theory. A reduced form entails a diagram with three curves relating employment and the real wage, which represent the two fundamental classical postulates and the principle of effective demand. This diagram illustrates better than IS–LM the generality of Keynes's theory, clarifying the distinction between voluntary and involuntary unemployment. Other significant features are the role of the distribution of expected interest rates among heterogeneous agents, whether dispersed or concentrated, in shaping the LM curve, as well as the role of wage competitiveness constraints as a foundation of Keynes's relative wage hypothesis.","PeriodicalId":51791,"journal":{"name":"European Journal of the History of Economic Thought","volume":"21 1","pages":"801 - 838"},"PeriodicalIF":0.7,"publicationDate":"2014-09-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/09672567.2014.881896","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"59594347","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 : 2014-08-01DOI: 10.1080/09672567.2013.792362
Richard van den Berg
Abstract Valeurs et monnaies is Turgot's most enigmatic contribution to economic theory. A comparison is made between the published transcripts of this text and manuscript fragments preserved in Lyon. Two main conclusions are drawn. First, no completely reliable transcript of the text has been published. Second, differences between the Lyon fragments and the published transcripts suggest that the former were part of an earlier draft than the better known Lantheuil manuscript. Some reflections are added about the fact that the latter manuscript is incomplete and has been inaccessible for many years.
{"title":"Turgot's Valeurs et monnaies: our incomplete knowledge of an incomplete manuscript","authors":"Richard van den Berg","doi":"10.1080/09672567.2013.792362","DOIUrl":"https://doi.org/10.1080/09672567.2013.792362","url":null,"abstract":"Abstract Valeurs et monnaies is Turgot's most enigmatic contribution to economic theory. A comparison is made between the published transcripts of this text and manuscript fragments preserved in Lyon. Two main conclusions are drawn. First, no completely reliable transcript of the text has been published. Second, differences between the Lyon fragments and the published transcripts suggest that the former were part of an earlier draft than the better known Lantheuil manuscript. Some reflections are added about the fact that the latter manuscript is incomplete and has been inaccessible for many years.","PeriodicalId":51791,"journal":{"name":"European Journal of the History of Economic Thought","volume":"68 1","pages":"549 - 582"},"PeriodicalIF":0.7,"publicationDate":"2014-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/09672567.2013.792362","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"59594280","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 : 2014-08-01DOI: 10.1080/09672567.2014.916733
M. de Vroey
Abstract This article is an in-depth analysis of Backhouse and Boianovsky's book, Transforming Modern Macroeconomics: Exploring Disequilibrium Microfoundations, 1956–2003. I start with questioning Backhouse and Boianovsky's too broad understanding of the disequilibrium approach. Thereby they bring together theories that should be kept separate, those by Patinkin, Clower and Leijonhuvud on the one hand, and those by Barro and Grossman, Drèze and Benassy, on the other. I also substantiate my disagreement with their claim that an inner link exists between fixed price equilibrium theories and imperfect competition modelling. Finally, I put forward a few conjectures about the reason why fixed price modelling petered out.
{"title":"Backhouse and Boianovsky on “disequilibrium theory”. A review article of transforming modern macroeconomics. Exploring disequilibrium microfoundations, 1956–2003","authors":"M. de Vroey","doi":"10.1080/09672567.2014.916733","DOIUrl":"https://doi.org/10.1080/09672567.2014.916733","url":null,"abstract":"Abstract This article is an in-depth analysis of Backhouse and Boianovsky's book, Transforming Modern Macroeconomics: Exploring Disequilibrium Microfoundations, 1956–2003. I start with questioning Backhouse and Boianovsky's too broad understanding of the disequilibrium approach. Thereby they bring together theories that should be kept separate, those by Patinkin, Clower and Leijonhuvud on the one hand, and those by Barro and Grossman, Drèze and Benassy, on the other. I also substantiate my disagreement with their claim that an inner link exists between fixed price equilibrium theories and imperfect competition modelling. Finally, I put forward a few conjectures about the reason why fixed price modelling petered out.","PeriodicalId":51791,"journal":{"name":"European Journal of the History of Economic Thought","volume":"21 1","pages":"724 - 742"},"PeriodicalIF":0.7,"publicationDate":"2014-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/09672567.2014.916733","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"59594078","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 : 2013-08-01DOI: 10.1080/09672567.2011.653878
Jérôme de Boyer des Roches
Abstract By granting credit and issuing money, banks take a liquidity risk - that is, the risk of being unable to reimburse its notes in coins. Five different explanations of a bank liquidity crisis have been provided by different authors, since John Law and up to Walter Bagehot. First, according to Law (1703) and Steuart ([1767] [1998]), the distinction between money of account (the pound sterling) and money of payment (the guinea) may induce a bank run. Second, according to Cantillon (1730), Hume ([1752] 1972), Ricardo (1810-1823) and the Currency School (1837-1858), the bank reserve becomes insufficient as a consequence of a diminishing value of money allied with over issues. Third, according to Thornton ([1802] 1939, 1991) and the Banking School (1840-1857), it can occur as a consequence of a falling exchange rate that is not linked with over issues. Fourth, according to Smith (1776) and the Banking School, discounting of fictitious bills, by decreasing the shareholders' funds, leads to bank illiquidity. Lastly, according to Thornton ([1802] 1939, 1991) and Bagehot (1873), the liquidity crisis is a consequence of bank panics: a "flight" to money for Thornton, a "flight" to credit for Bagehot. The analysis of these five different explanations sheds new light on classical monetary controversies.
{"title":"Bank liquidity risk: From John Law (1705) to Walter Bagehot (1873)","authors":"Jérôme de Boyer des Roches","doi":"10.1080/09672567.2011.653878","DOIUrl":"https://doi.org/10.1080/09672567.2011.653878","url":null,"abstract":"Abstract By granting credit and issuing money, banks take a liquidity risk - that is, the risk of being unable to reimburse its notes in coins. Five different explanations of a bank liquidity crisis have been provided by different authors, since John Law and up to Walter Bagehot. First, according to Law (1703) and Steuart ([1767] [1998]), the distinction between money of account (the pound sterling) and money of payment (the guinea) may induce a bank run. Second, according to Cantillon (1730), Hume ([1752] 1972), Ricardo (1810-1823) and the Currency School (1837-1858), the bank reserve becomes insufficient as a consequence of a diminishing value of money allied with over issues. Third, according to Thornton ([1802] 1939, 1991) and the Banking School (1840-1857), it can occur as a consequence of a falling exchange rate that is not linked with over issues. Fourth, according to Smith (1776) and the Banking School, discounting of fictitious bills, by decreasing the shareholders' funds, leads to bank illiquidity. Lastly, according to Thornton ([1802] 1939, 1991) and Bagehot (1873), the liquidity crisis is a consequence of bank panics: a \"flight\" to money for Thornton, a \"flight\" to credit for Bagehot. The analysis of these five different explanations sheds new light on classical monetary controversies.","PeriodicalId":51791,"journal":{"name":"European Journal of the History of Economic Thought","volume":"20 1","pages":"547 - 571"},"PeriodicalIF":0.7,"publicationDate":"2013-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/09672567.2011.653878","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"59594097","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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