Pub Date : 2007-03-01DOI: 10.1080/09672560601168363
Jérôme de Boyer des Roches
Abstract Noting that it is Thornton, not Ricardo, who is the originator of the classical analysis of the gold points mechanism, this paper shows that Ricardo rejected this mechanism. This is done by considering his criticism of the causal link between deficits, the exchange rate and the price of gold. The paper first emphasizes Thornton's analysis of the links between gold points, bank risk and the high price of bullion. It is then shown how far Ricardo is led astray in his criticism of Thornton and his explanation of the high price of bullion and of the exchange market.
{"title":"Cause and effect in the gold points mechanism: A criticism of Ricardo's criticism of Thornton","authors":"Jérôme de Boyer des Roches","doi":"10.1080/09672560601168363","DOIUrl":"https://doi.org/10.1080/09672560601168363","url":null,"abstract":"Abstract Noting that it is Thornton, not Ricardo, who is the originator of the classical analysis of the gold points mechanism, this paper shows that Ricardo rejected this mechanism. This is done by considering his criticism of the causal link between deficits, the exchange rate and the price of gold. The paper first emphasizes Thornton's analysis of the links between gold points, bank risk and the high price of bullion. It is then shown how far Ricardo is led astray in his criticism of Thornton and his explanation of the high price of bullion and of the exchange market.","PeriodicalId":51791,"journal":{"name":"European Journal of the History of Economic Thought","volume":"14 1","pages":"25 - 53"},"PeriodicalIF":0.7,"publicationDate":"2007-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/09672560601168363","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"59594377","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 : 2006-06-01DOI: 10.1080/09672560600708284
Nicolò De vecchi
Abstract Hayek did not review the General Theory, but he criticized it in Profits, Interest and Investment (1939) and in part IV of The Pure Theory of Capital (1941). First, he showed that only exceptionally does greater consumption favour investment and employment. Second, he rejected Keynes's liquidity preference and maintained that only in an ‘extreme case’ might it be said that Keynes's theory of the rate of interest is valid. Although he correctly identified the gist of Keynes's theoretical innovation, his criticisms were already implicitly answered in the General Theory.
{"title":"Hayek and the General Theory *","authors":"Nicolò De vecchi","doi":"10.1080/09672560600708284","DOIUrl":"https://doi.org/10.1080/09672560600708284","url":null,"abstract":"Abstract Hayek did not review the General Theory, but he criticized it in Profits, Interest and Investment (1939) and in part IV of The Pure Theory of Capital (1941). First, he showed that only exceptionally does greater consumption favour investment and employment. Second, he rejected Keynes's liquidity preference and maintained that only in an ‘extreme case’ might it be said that Keynes's theory of the rate of interest is valid. Although he correctly identified the gist of Keynes's theoretical innovation, his criticisms were already implicitly answered in the General Theory.","PeriodicalId":51791,"journal":{"name":"European Journal of the History of Economic Thought","volume":"13 1","pages":"233 - 258"},"PeriodicalIF":0.7,"publicationDate":"2006-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/09672560600708284","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"59594325","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 : 2006-06-01DOI: 10.1080/09672560600708318
M. de Vroey
Abstract Hicks is renowned for having introduced the temporary equilibrium framework in his book Value and Capital. Subsequently, however, he partially recanted this framework by rejecting the market clearing idea while still keeping the week device. The aim of this paper is to assess whether this change was right. My answer will be broadly negative. To make my point, I will ponder on the meaning and implications of the week device, assess the validity of Hicks' claim that slow adjustment can cause market rationing, examine his claim that the possibility of market clearing depends on the prevailing market form and, finally, assess his twofold filiations towards Marshall and Walras.
{"title":"The temporary equilibrium method: Hicks against Hicks","authors":"M. de Vroey","doi":"10.1080/09672560600708318","DOIUrl":"https://doi.org/10.1080/09672560600708318","url":null,"abstract":"Abstract Hicks is renowned for having introduced the temporary equilibrium framework in his book Value and Capital. Subsequently, however, he partially recanted this framework by rejecting the market clearing idea while still keeping the week device. The aim of this paper is to assess whether this change was right. My answer will be broadly negative. To make my point, I will ponder on the meaning and implications of the week device, assess the validity of Hicks' claim that slow adjustment can cause market rationing, examine his claim that the possibility of market clearing depends on the prevailing market form and, finally, assess his twofold filiations towards Marshall and Walras.","PeriodicalId":51791,"journal":{"name":"European Journal of the History of Economic Thought","volume":"13 1","pages":"259 - 278"},"PeriodicalIF":0.7,"publicationDate":"2006-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/09672560600708318","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"59594367","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 : 2005-12-01DOI: 10.1057/9781137293091_14
M. Lundahl
{"title":"To Be an Independent Thinker: An Intellectual Portrait of Staffan Burenstam Linder","authors":"M. Lundahl","doi":"10.1057/9781137293091_14","DOIUrl":"https://doi.org/10.1057/9781137293091_14","url":null,"abstract":"","PeriodicalId":51791,"journal":{"name":"European Journal of the History of Economic Thought","volume":"12 1","pages":"663-688"},"PeriodicalIF":0.7,"publicationDate":"2005-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"58219309","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 : 2004-03-01DOI: 10.1080/0967256032000171489
Jimena Hurtado Prieto
In this paper I argue that Bernard Mandeville, Jean Jacques Rousseau and Adam Smith are confronted to the same question: how to explain values from a naturalistic origin of morality. An in-depth analysis of their theories of human nature and market society will show that Rousseau is further from Mandeville's analysis than Smith acknowledged, and it is Smith who will in fact take important elements from Mandeville to build his own theoretical system and, thereby, follow the path of economic analysis beyond moral considerations.
{"title":"Bernard Mandeville's heir: Adam Smith or Jean Jacques Rousseau on the possibility of economic analysis","authors":"Jimena Hurtado Prieto","doi":"10.1080/0967256032000171489","DOIUrl":"https://doi.org/10.1080/0967256032000171489","url":null,"abstract":"In this paper I argue that Bernard Mandeville, Jean Jacques Rousseau and Adam Smith are confronted to the same question: how to explain values from a naturalistic origin of morality. An in-depth analysis of their theories of human nature and market society will show that Rousseau is further from Mandeville's analysis than Smith acknowledged, and it is Smith who will in fact take important elements from Mandeville to build his own theoretical system and, thereby, follow the path of economic analysis beyond moral considerations.","PeriodicalId":51791,"journal":{"name":"European Journal of the History of Economic Thought","volume":"11 1","pages":"1 - 31"},"PeriodicalIF":0.7,"publicationDate":"2004-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/0967256032000171489","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"59594314","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 : 2003-12-01DOI: 10.1080/0967256032000137711
N. de Marchi
Visualization in economics was common, and in trade theory almost a primary mode of analysis and demonstration from the late 19th century until the 1960s. Why? This paper presents two versions of the gains from trade notion that have come to us in visual form, one due to Marshall, the other to Viner and Samuelson. The two are very different, a fact better understood against a backdrop of recent neurological research on visualization. A key finding of that work is that our ability to conceive and recognize forms depends on forms previously seen and stored in the brain. Early exposure and nurturing matter greatly. The research also stresses that there is no basis for distinguishing between seeing and understanding. A satisfactory answer to the ‘Why?’ question thus requires that we attend to audiences and their capabilities, some hints concerning which are offered here.
{"title":"Visualizing the gains from trade, mid-1870s to 1962","authors":"N. de Marchi","doi":"10.1080/0967256032000137711","DOIUrl":"https://doi.org/10.1080/0967256032000137711","url":null,"abstract":"Visualization in economics was common, and in trade theory almost a primary mode of analysis and demonstration from the late 19th century until the 1960s. Why? This paper presents two versions of the gains from trade notion that have come to us in visual form, one due to Marshall, the other to Viner and Samuelson. The two are very different, a fact better understood against a backdrop of recent neurological research on visualization. A key finding of that work is that our ability to conceive and recognize forms depends on forms previously seen and stored in the brain. Early exposure and nurturing matter greatly. The research also stresses that there is no basis for distinguishing between seeing and understanding. A satisfactory answer to the ‘Why?’ question thus requires that we attend to audiences and their capabilities, some hints concerning which are offered here.","PeriodicalId":51791,"journal":{"name":"European Journal of the History of Economic Thought","volume":"10 1","pages":"551 - 572"},"PeriodicalIF":0.7,"publicationDate":"2003-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/0967256032000137711","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"59594267","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 : 2003-07-01DOI: 10.1080/0967256032000066909
Mário da Graça Moura
This paper assesses Joseph Schumpeter's agenda for the integration of theory and history. On the basis of a critical realist conception of the nature of historical theory it is argued that Schumpeter's aims are at odds with his analytical strategy: his implicit ontology cannot be reconciled with his conception of theory. An illustration is provided as to how this mismatch is reproduced in Schumpeter's substantive attempts to integrate theory and history, and brief reflections are offered as to why this mismatch arose and endured.
{"title":"Schumpeter on the integration of theory and history","authors":"Mário da Graça Moura","doi":"10.1080/0967256032000066909","DOIUrl":"https://doi.org/10.1080/0967256032000066909","url":null,"abstract":"This paper assesses Joseph Schumpeter's agenda for the integration of theory and history. On the basis of a critical realist conception of the nature of historical theory it is argued that Schumpeter's aims are at odds with his analytical strategy: his implicit ontology cannot be reconciled with his conception of theory. An illustration is provided as to how this mismatch is reproduced in Schumpeter's substantive attempts to integrate theory and history, and brief reflections are offered as to why this mismatch arose and endured.","PeriodicalId":51791,"journal":{"name":"European Journal of the History of Economic Thought","volume":"22 1","pages":"279 - 301"},"PeriodicalIF":0.7,"publicationDate":"2003-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/0967256032000066909","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"59593816","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 : 2003-07-01DOI: 10.1080/0967256032000066918
M. Fernández López
The concern for the existence of solution to the Walras - Cassel model is usually dated at the beginning of the 1930s, and one decade later the proof of existence of utility function. Ugo Broggi, however, posed both issues in 1923 and 1919, respectively, and even hinted at modern ways of solving them. He was an outstanding mathematician, a former disciple of David Hilbert and collaborator with the Giornale degli Economisti. Broggi's achievements are also linked to a critical reading of Osorio's treatise on Paretian economics.
对瓦尔拉斯-卡塞尔模型解的存在性的关注通常可以追溯到20世纪30年代初，十年后效用函数的存在性证明。然而，乌戈·布罗吉(Ugo Broggi)分别在1923年和1919年提出了这两个问题，甚至暗示了解决它们的现代方法。他是一位杰出的数学家，曾是大卫·希尔伯特(David Hilbert)的弟子，也是《Giornale degli Economisti》的合作者。布罗吉的成就也与对奥索里奥关于家长经济学的论文的批判性阅读有关。
{"title":"Ugo Broggi: a precursor in mathematical economics","authors":"M. Fernández López","doi":"10.1080/0967256032000066918","DOIUrl":"https://doi.org/10.1080/0967256032000066918","url":null,"abstract":"The concern for the existence of solution to the Walras - Cassel model is usually dated at the beginning of the 1930s, and one decade later the proof of existence of utility function. Ugo Broggi, however, posed both issues in 1923 and 1919, respectively, and even hinted at modern ways of solving them. He was an outstanding mathematician, a former disciple of David Hilbert and collaborator with the Giornale degli Economisti. Broggi's achievements are also linked to a critical reading of Osorio's treatise on Paretian economics.","PeriodicalId":51791,"journal":{"name":"European Journal of the History of Economic Thought","volume":"10 1","pages":"303 - 328"},"PeriodicalIF":0.7,"publicationDate":"2003-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/0967256032000066918","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"59594255","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 : 1999-12-01DOI: 10.1080/10427719900000043
Mark R. Greer
This paper examines Hegel's perspective on the market economy, paying particular attention to how the market fits into his conception of freedom. Hegel's doctrine of freedom implies that market relations realize a distinctive form of freedom; however, due to the ontological deficiencies of this freedom, it must be subsumed under a superior freedom that is realized only within the state. The paper also explains why Hegel, although an economic liberal, does not accept the basic tenets of political liberalism, and why he does not regard economic science as a tool for public policy.
{"title":"Individuality and the economic order in Hegel's Philosophy of Right","authors":"Mark R. Greer","doi":"10.1080/10427719900000043","DOIUrl":"https://doi.org/10.1080/10427719900000043","url":null,"abstract":"This paper examines Hegel's perspective on the market economy, paying particular attention to how the market fits into his conception of freedom. Hegel's doctrine of freedom implies that market relations realize a distinctive form of freedom; however, due to the ontological deficiencies of this freedom, it must be subsumed under a superior freedom that is realized only within the state. The paper also explains why Hegel, although an economic liberal, does not accept the basic tenets of political liberalism, and why he does not regard economic science as a tool for public policy.","PeriodicalId":51791,"journal":{"name":"European Journal of the History of Economic Thought","volume":"6 1","pages":"552-580"},"PeriodicalIF":0.7,"publicationDate":"1999-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/10427719900000043","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"59611199","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 : 1999-12-01DOI: 10.1080/10427719900000045
B. Ingham
The focus of the paper is human behaviour in long-run change as examplified in the writings of the 'pioneer' development economists, Lewis, Hirschman and Myrdal. Lewis is credited with recognizing the importance of human behaviour, though unable to resolve the limitations of neoclassical thinking. Hirschman and Myrdal, characterized as holistic and evolutionary in approach, are argued to be more successful in integrating human behaviour into theories of long-run change.
{"title":"Human behaviour in development economics","authors":"B. Ingham","doi":"10.1080/10427719900000045","DOIUrl":"https://doi.org/10.1080/10427719900000045","url":null,"abstract":"The focus of the paper is human behaviour in long-run change as examplified in the writings of the 'pioneer' development economists, Lewis, Hirschman and Myrdal. Lewis is credited with recognizing the importance of human behaviour, though unable to resolve the limitations of neoclassical thinking. Hirschman and Myrdal, characterized as holistic and evolutionary in approach, are argued to be more successful in integrating human behaviour into theories of long-run change.","PeriodicalId":51791,"journal":{"name":"European Journal of the History of Economic Thought","volume":"6 1","pages":"606-623"},"PeriodicalIF":0.7,"publicationDate":"1999-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/10427719900000045","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"59611276","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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