On Classical Economics

In addition to a general understanding of classical macroeconomics and microeconomics, this book offers special insight into the neglected pioneering work of Sismondi--and why it was neglected--and a detailed look at John Stuart Mill's ...

On Classical Economics

A reexamination of classical economic theory and methods, by a senior economist of international stature Thomas Sowell's many writings on the history of economic thought have appeared in a number of scholarly journals and books, and these writings have been praised, reprinted, and translated in various countries around the world. The classical era in the history of economics is an important part of the history of ideas in general, and its implications reach beyond the bounds of the economics profession. On Classical Economics is a book from which students can learn both history and economics. It is not simply a Cook's tour of colorful personalities of the past but a study of how certain economic concepts and tools of analysis arose, and how their implications were revealed during the controversies that followed. In addition to a general understanding of classical macroeconomics and microeconomics, this book offers special insight into the neglected pioneering work of Sismondi--and why it was neglected--and a detailed look at John Stuart Mill's enigmatic role in the development of economics and the mysteries of Marxian economics. Clear, engaging, and very readable, without being either cute or condescending, On Classical Economics can enable a course on the history of economic thought to make a contribution to students' understanding of economics in general--whether in price theory, monetary theory, or international trade. In short, it is a book about analysis as well as history.

The Classical Economists Revisited

Preface to the Second Edition Preface to the Original Edition Introduction CHAPTER ONE The Classical Economic Stage 1 I. The Period of Classical Economics 1 II. The Personnel of Classical Economics 3 III.

The Classical Economists Revisited

The Classical Economists Revisited conveys the extent, diversity, and richness of the literature of economics produced in the period extending from David Hume's Essays of 1752 to the final contributions of Fawcett and Cairnes in the 1870s. D. P. O'Brien thoroughly updates, rewrites, and expands the vastly influential work he first published in 1975, The Classical Economists. In particular, he sets out to make clear the shaping of a comprehensive vision of the working of an open economy, building on the great work of Adam Smith in Wealth of Nations, a development that was substantially affected by the contributions of David Ricardo. He shows that the Classical literature was in fact the work of a host of thinkers from a wide range of backgrounds. Covering the intellectual roots of the Classical literature and its methodological approaches, and the developed theories of value, distribution, money, trade, population, economic growth, and public finance, and examining the Classical attitudes toward a rich variety of policy issues, The Classical Economists Revisited considers not only the achievements of the Classical writers but also their legacy to the later development of economics. A seminal contribution to the field, this book will be treasured for many years to come by economists, historians of economics, instructors and their students, and anyone interested in the sweeping breadth and enduring influence of the classical economists.

The Theory of Wages in Classical Economics

' - John Vint, Journal of the History of Economic Thought This important new book is the first specific study on the classical theory of wages to appear for more than 50 years and as such fills an important gap in the literature.

The Theory of Wages in Classical Economics

'. . . there is much is Stirati's discussion of the natural wage which is of interest, and she explores quite carefully the role of institutional, cultural and social factors in the determination of the long-run wage rate.' - John Vint, Journal of the History of Economic Thought This important new book is the first specific study on the classical theory of wages to appear for more than 50 years and as such fills an important gap in the literature. Antonella Stirati argues that the wage-fund theory played no part in the theory of wages expounded by Ricardo and his predecessors. Classical wage theory is shown to be analytically consistent but very different from contemporary theory, particularly as it did not envisage an inverse relationship between employment and the real wage level, and hence a spontaneous tendency to full employment of labour. The author bases her approach not only on a reinterpretation of Smith and Ricardo, but also on the writings of Turgot, Necker, Steuart, Hume, Cantillon and other pre-classical economists.

Thomas Tooke and the Monetary Thought of Classical Economics

Roncaglia, A. (1998) 'Sraffa, Piero, as an interpreter of the classical economists', in H.D. Kurz and N. Salvadori (eds), The Elgar Companion to Classical Economics, 2 volumes, Cheltenham: Edward Elgar, L–Z: 399–404.

Thomas Tooke and the Monetary Thought of Classical Economics

The purpose of this book is to provide a comprehensive account and reconsideration of the contribution to political economy of Thomas Tooke (1774-1858), classical economist and influential monetary theorist. Its chief purpose is to examine Tooke’s contributions to political economy with the aim of bringing to light its unified nature and its important legacy to contemporary economics. In doing so the book aims to throw new light on monetary analysis within the framework of classical economics. There remains no comprehensive account of Tooke’s contributions that is concerned with showing his lasting and ongoing influence on the development of monetary thought. The book provides an interpretation and analytical study of Tooke’s political economy from the standpoint of the classical tradition. This enables a demonstration of how his constructive contribution throws a new light on monetary thought in this tradition.

Nassau Senior and Classical Economics

Rout/edge Library Editions — Economics III IV VI VII VIII IX XI XII XIII XIV XV XVI XVII XVIII XIX XX XXI XXII XXIII HISTORY OF ECONOMIC THOUGHT In 2 3 Volumes A Select Bibliography of Modern Economic Theory Early British Economics ...

Nassau Senior and Classical Economics

"one of the best contributions to the history of economic thought during recent years" P. M. Rosenstein-Rodan Nassau Senior is one of the most significant economists in the classical tradition. This study is based both on his unpublished and published lectures and writings. Part 1 illustrates Senior's outstanding contribution in synthesizing the various developments of Adam Smith's theories that took place during the first part of the nineteenth century. Part 2 examines Senior's opinions and influence on social and economic policy, in particular his connection with the passing of the Poor Law Amendment Act of 1834.

Revisiting Classical Economics

The former observer is introduced as (i) 'anyone accustomed to think in terms of the equilibrium of demand and supply', the latter as (ii) the scholar adopting the 'standpoint ... of the old classical economists from Adam Smith to ...

Revisiting Classical Economics

The financial crisis and the economic crisis that followed triggered a crisis in the subject of economics, as it is typically being taught today especially in macroeconomics and related fields. A renewed interest in earlier authors, especially the classical economists from Adam Smith to David Ricardo and John Maynard Keynes, developed. This book may also be seen as a response to this interest. What can we learn from the authors mentioned, what we could not learn from the mainstream? This volume contains a selection of essays which deepens and widens the understanding of the classical approach to important problems, such as value and distribution, growth and technical progress, and exhaustible natural resources. It is the fourth collection in a row and reflects an on-going discussion of the fecundity of the classical approach. A main topic of the essays is a comparison between the classical approaches with modern theory and thus an identification of what can be learned by elaborating on the ideas of Smith and Ricardo and Marx above and beyond and variously in contradiction to certain mainstream view. Since the work of Piero Sraffa spurred the revival of classical economic thought, his contributions are dealt with in some detail. The attention then focuses on economic growth and the treatment of exhaustible resources within a classical framework of the analysis.

On the Origins of Classical Economics

I : 125–459; vol. II : 1–162. Deane, P.(1955) 'The Implications ofEarly NationalIncome Estimates for the Measurementof Longterm Economic Growth in the United Kingdom', Economic Developmentand CulturalChange 4:3–38.

On the Origins of Classical Economics

Examines the origin and early development of the classical theory of distribution up to 1767, stressing the concept of economic `surplus' as a key determinant of economic phenomena.

From Classical Economics to Development Economics

(Smith, 1776, bk II, ch. 5) Classical economists also viewed education and the growth of knowledge as a form of investment." Smith classified “the acquired and useful abilities of all the “inhabitants or members of society” as one of ...

From Classical Economics to Development Economics

Most development economists are versed only in the post-World War II period of their subject. But economic growth was a major concern in the 18th century, and colonial economics and policy commanded much attention in the 19th and first half of the 20th centuries. A return to these earlier concerns can now provide present-day development economists with a greater appreciation of the intellectual history of their subject. Even more, such a return might strengthen the conceptual and empirical foundations of the subject. These are this book's objectives.

Classical Economics and Modern Theory

Gehrke, Ch. and Kurz, H. D. (1995) Karl Marx on physiocracy, The European Journal of the History of Economic ... Kurz, H. D. and Salvadori, N. (eds) (1998) The Elgar Companion to Classical Economics, two vols (Cheltenham, Edward Elgar).

Classical Economics and Modern Theory

In this thought-provoking book, well known economists Kurz and Salvadori cover original findings and new vistas on old problems. They cover: alternative interpretations of classical economists new growth theory the relationship between Sraffian theory and Von Neumann the treatment of capital in neoclassical long-period theory. Incorporating cutting-edge research and new work, this book will be of great interest to those working in the field of the history of economic thought.

Understanding Classical Economics

10 See, in particular, C II: 397–8; we shall come back to the significance of this passage on p. ... and also those of the classical economists from Adam Smith to David Ricardo, from later marginalist (or 'neoclassical') analyses which ...

Understanding  Classical  Economics

The 'classical' approach to economic problems, which can be traced back to Adam Smith and David Ricardo, has seen a remarkable revival in recent years. The essays in this collection argue that this approach holds the key to an explanation of important present day economic phenomena. Focusing on the analytical potentialities of classical economics, the contributors illustrate how an important element of understanding its approach consists of developing and using its explanatory power.

Interpreting Classical Economics

The Elgar Companion to Classical Economics. 2 vols. Cheltenham, U.K.: Edward Elgar. ——. 1998b. Understanding “Classical” Economics: Studies in Long-Period Theory. London: Routledge. Mill, J. S. [1848] 1909. Principles ofPoliticalEconomy ...

Interpreting Classical Economics

First Published in 2007. Routledge is an imprint of Taylor & Francis, an informa company.

Modern Classical Economics and Reality

This book presents an in-depth, novel, and mathematically rigorous treatment of the modern classical theory of value based on the spectral analysis of the price–profit–wage rate system.

Modern Classical Economics and Reality

This book presents an in-depth, novel, and mathematically rigorous treatment of the modern classical theory of value based on the spectral analysis of the price–profit–wage rate system. The classical theory is also subjected to empirical testing to show its logical consistency and explanatory content with respect to observed phenomena and key economic policy issues related to various multiplier processes. In this context, there is an examination of the trajectories of relative prices when the distributive variables change, both theoretically and empirically, using actual input–output data from a number of quite divers e economies. It is suggested that the actual economies do not behave like the parable of a one-commodity world of the traditional neoclassical theory, which theorizes the relative scarcities of “goods and production factors” as the fundamental determinants of relative prices and their movement. By contrast, the results of the empirical analysis are fully consistent with the modern classical theory, which makes the intersectoral structure of production and the way in which net output is distributed amongst its claimants the fundamental determinants of price magnitudes. At the same time, however, these results indicate that only a few vertically integrated industries (“industry core” or “hyper-basic industries”) are enough to shape the behaviour of the entire economy in the case of a disturbance. This fact is reduced to the skew distribution of the eigenvalues of the matrices of vertically integrated technical coefficients and reveals that, across countries and over time, the effective dimensions of actual economies are surprisingly low. Normal 0 false false false EN-US JA X-NONE />

Classical Economics Today

Cambridge Controversies in the Theory of Capital (1972); A “Second Edition” of The General Theory, 2 vols., coedited with P. Riach (1997); The Structure of Post-Keynesian Economics (2006); Joan Robinson, coauthored with P. Kerr (2009); ...

Classical Economics Today

“Classical Economics Today: Essays in Honor of Alessandro Roncaglia” comprises a collection of original essays by leading economists who adopt a Classical approach to political economy. The essays showcase the relevance and topicality of the Classical approach, as opposed to the sterility and real-world irrelevance of mainstream economics.

Classical Economic Theory and the Modern Economy

... 227–8 purchases of 218 supply of 105 capital wealth 100, 193 production of 50 Carroll, Lewis 45 child labour, abolition of 194 Churchill, Winston 15–16, 44, 169, 171, 191 classical economic framework 226–9 classical economics 2, 17, ...

Classical Economic Theory and the Modern Economy

Economic theory reached its zenith of analytical power and depth of understanding in the middle of the nineteenth century among John Stuart Mill and his contemporaries. This book explains what took place in the ensuing Marginal Revolution and Keynesian Revolution that left economists less able to understand how economies operate. It explores the false mythology that has obscured the arguments of classical economists, providing a pathway into the theory they developed.

Classical Economics Reconsidered

For Marx , classical economics began with Sir William Petty and ended with Ricardo in England , and covered the period ... Marx's criticism of the classical economists , in this regard , was that they did not clearly separate the two ...

Classical Economics Reconsidered

This reconsideration of the macroeconomics, microeconomics, methodology, and social philosophy of the classical economists has been a small gem on the history of economic thought, written in a way accessible to students, while having much to teach scholars. The reissue of this book twenty years after its original publication is a tribute to the enduring relevance of the questions raised during the formative period of economics and to the skill with which the author analyzes them.

Interpreting Classical Economics

First Published in 2007. Routledge is an imprint of Taylor & Francis, an informa company.

Interpreting Classical Economics

First Published in 2007. Routledge is an imprint of Taylor & Francis, an informa company.

Classical Political Economy

William O. Thweatt This book is the second in three surveys of the literature in the history of economic thought in the Kluwer Recent Economic Thought series.

Classical Political Economy

William O. Thweatt This book is the second in three surveys of the literature in the history of economic thought in the Kluwer Recent Economic Thought series. The first book, covering the pre-classical literature, has already been published; a third, on the neo-c1assical period, is planned for 1988. This middle book surveys the writings on classical political economy for the past 30 years, or roughly since the publication of Joseph Schumpeter's 1954 monumental History of Economic Analysis. Shortly after World War II, the American Economic Association spon sored a Survey of Contemporary Economics [1949]. That work covered 13 subdisciples of economics, and in 1952 a companion piece appeared in which surveys of 10 additional subdisciples were presented. As Bernard Haley, editor of the second volume, stated, even "though in the two volumes twenty-three fields have been treated ... there remain some aspects of the subject ... that have not been reviewed" [Haley, 1952, p. v].

Popularizing Classical Economics

This book traces the efforts of Brougham and Ellis to spread classical economic ideas through education of both adults and children.

Popularizing Classical Economics

Popularizing Classical Economics analyzes the theoretical contributions of two British Economists, Henry Brougham and William Ellis, and describes how they popularized economic ideas from the early 1800s through the 1860s. Efforts to spread economic ideas to the lay public have been little studied and few individuals have been recognized for their efforts. This book traces the efforts of Brougham and Ellis to spread classical economic ideas through education of both adults and children.