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In this fresh study of the career and theoretical work of John Bates Clark, the first American economist to achieve international standing, Henry demonstrates that the usual interpretations of Clark are flawed, and that Clark set out to develop a theory of distribution that would support then current political authority and property relationships. Contrary to the normal view, it is shown that there is less of a difference between Clark's early 'Christian Socialist' writings and the writings of his mature period, and that perceptions and concerns formulated in his early career carry over into his more theoretically advanced stage. Also, Clark's religious perceptions are shown to have influenced not only his early thoughts, but those contained in the writings of the later period that brought him to the attention of economists in England and the Continent. Throughout this book, Henry demonstrates the relationship between Clark's theoretical work and the larger social forces then at work which both promoted and constrained his thinking and his economics.
The political economist Thomas Robert Malthus (1766-1834) has gained increasing and deserved scholarly attention in recent years. As well as the republication of his works and letters, a rich body of scholarship has been produced that enlightens our understanding of his thoughts and arguments. Yet little has been written on the ways in which his message was translated to, and interpreted by, a popular audience. Malthus first rose to prominence in 1798 with the publication of his Essay on the Principle of Population, in which he blamed rising levels of poverty on the inability of Britain's economy to support its growing population. His remedy, to limit the number of children born to poor fami...
This book takes a look at the 'age of reform', from 1780 when reform became a common object of aspiration, to the 1830s - the era of the 'Reform Ministry' and of the Great Reform Act of 1832 - and beyond, when such aspirations were realized more frequently. It pays close attention to what contemporaries termed 'reform', identifying two strands, institutional and moral, which interacted in complex ways. Particular reforming initiatives singled out for attention include those targeting parliament, government, the law, the Church, medicine, slavery, regimens of self-care, opera, theatre, and art institutions, while later chapters situate British reform in its imperial and European contexts. An extended introduction provides a point of entry to the history and historiography of the period. The book will therefore stimulate fresh thinking about this formative period of British history.
Volume 41A of Research in the History of Economic Thought and Methodology features a symposium on “Religion, the Scottish Enlightenment, and the Rise of Liberalism,” a new research essay by Syed Mohib Ali, and a roundtable on the institutionalist economics of Geoffrey Hodgson.
This book examines the use, principally in economics, of the concept of the invisible hand, centering on Adam Smith. It interprets the concept as ideology, knowledge, and a linguistic phenomenon. It shows how the principal Chicago School interpretation misperceives and distorts what Smith believed on the economic role of government. The essays further show how Smith was silent as to his intended meaning, using the term to set minds at rest; how the claim that the invisible hand is the foundational concept of economics is repudiated by numerous leading economic theorists; that several dozen identities given the invisible hand renders the term ambiguous and inconclusive; that no such thing as an invisible hand exists; and that calling something an invisible hand adds nothing to knowledge. Finally, the essays show that the leading doctrines purporting to claim an invisible hand for the case for capitalism cannot invoke the term but that other nonnormative invisible hand processes are still useful tools.
The new interdisciplinary field of Christianity and economics deals with the important and difficult questions that cluster at the boundary of these disciplines, drawing on contemporary theory and empirical findings in both fields, with roots in older discourses. This landmark volume surveys the field and advances the discussion. It deploys historical, economic, and theological analysis to search for answers.
A collection that includes both refereed articles and review essays of recently published books in the history of economic thought and methodology. It also includes articles that highlight the work of founding editor Warren J Samuels, American economists' role in the creation of federal trade acts, and Islamic economic methodology.
This book documents exchanges between individual scientists and explores the boundaries between economics and neighbouring fields.