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The Rise of Neo-liberalism and the Decline of Freedom
This book examines the relationship that prevails between the state and freedom in the works of Milton Friedman and Friedrich Hayek, as well as those of some of their peers, including Gary Becker, James Buchanan, and George Stigler. The author explains that their concept of freedom was largely derived from the principles and values of neo-liberalism. However, she maintains that neo-liberals never cared about providing the masses with genuine freedom; rather, they value freedom for its instrumental value in terms of facilitating the global spread of free-market capitalism. The author explains that the neo-liberal concept of freedom has been a very useful tool in promoting the superiority of f...
The Early History of Economics in the United States
Since the latter half of the 20th century, the economics departments of American universities were internationally renowned for providing competitive and advanced levels of education. However, from the 1870s up until the beginning of WWI, German universities held international supremacy when it came to the quality of teaching, the enrollment of foreign students, and scholarly publications. This book examines the role of the German Historical School of Economics (GHSE) in the development of the discipline of economics in the US during this period. The chapters explain that, prior to the influence of the GHSE, political economy was in a dismal state in the US, both as a profession and an acade...
Hayek: A Collaborative Biography
Hayek claimed that he always made it his rule ‘not to be concerned with current politics, but to try to operate on public opinion.’ However, evidence suggests that he was a party political operative with ‘free’ market scholarship being the vehicle through which he sought – and achieved – party political influence. The ‘main purpose’ of his Mont Pelerin Society had ‘been wholly achieved’. Mises promoted ‘Fascists’ including Ludendorff and Hitler, and Hayekians promoted the Operation Condor military dictatorships and continue to maintain a ‘united front’ with ‘neo-Nazis.’ Hayek, who supported Pinochet’s torture-based regime and played a promotional role in ‘...
Arthur Spiethoff and the German Historical School of Economics
Arthur Spiethoff (1873–1957), an economist of the German Historical School of Economics, is best known for his theory of the business cycle. Despite Spiethoff calling for a unified reading of his work, his epistemological thinking has received less attention. This book addresses that gap by analysing Spiethoff’s theory of the business cycle in the light of his epistemological views. Putting Spiethoff’s work in context, the book also investigates the most significant features of the evolution of the “research programme” of the German Historical School of Economics, with particular reference to the relationships between Schmoller, Sombart, Weber and Spiethoff. In addition, Spiethoff...
Authoritarian Liberalism and the Transformation of Modern Europe
This book uses constitutional analysis and theory to explore the transformation of Europe from the post-war era until the Euro-crisis. Authoritarian liberalism has developed over these years and, as the book suggests, is now perhaps reaching its limit. This book uses history and theory to reveal the EU's journey and highlight future challenges.
Modern Japanese Economic Thought
Since the late-19th century, Japan has made remarkable strides in industrialization. Beginning with the economic vision of Miura Baien in the 18th century, and employing a detailed comparison with the West, this book delves into the economic thought of the scholars who played a pivotal role in Japan’s modernization process. The author takes Fukuzawa Yukichi’s theory of ‘civilization’ as the standard measure of Japan’s modernization and compares it with differing visions from various critics whose research focused on rural poverty and social problems, such as Maeda Masana, early socialists, Yanagita Kunio and Kawakami Hajime. Further, the book explores new liberalism (Ishibashi Tanz...
Economic Methodology, History and Pluralism
Economic Methodology, History and Pluralism: Expanding Economic Thought to Meet Contemporary Challenges pays tribute to Emeritus Professor Sheila Dow (University of Stirling, Scotland). This volume focusses on the contributions of Dow to economic methodology, pluralism and the history of economic thought. These explorations serve to underpin her ideas and theories on macroeconomics, banking and money. Bringing together an impressive panel of contributors, the chapters in this work examine Dow’s writings on structured pluralism and schools of thought, meanings of open and closed systems, reflections on the relationship between economics and other sciences (both social and natural), the meth...
James Mill, John Stuart Mill, and the History of Economic Thought
Commemorating the 250th anniversary of James Mill’s birth and the 150th of John Stuart Mill’s death, this volume analyses the Mills’ discussions on topics such as environment, cultivation, education, utilitarianism, socialism, international relations, international trade, and living standard. John Stuart Mill is an important figure of the classical political economy, and his father played a critical role in the early stages of his intellectual development. The contributions of the two Mills are examined by leading scholars on the theory and history of economics from Japan, UK, and France. They not only deal with the Mills’ individual contributions but also shed light on their relationships and associations with a number of economists and philosophers in Britain between the late 18th and the early 20th centuries, including Adam Smith, Malthus, Ricardo, Pennington, Torrens, Martineau, Longfield, Morris, Sidgwick, and Marshall. This book is an essential read for scholars interested in the economics of James and John Mill, and reconsideration of their theories and thoughts using the backdrop of the current state of society.
Léon Walras’s Economic Thought
This book sheds new light on the general equilibrium theory of Léon Walras (1834–1910) from a historical perspective. Walras's construction of general equilibrium theory marked the dawn of modern economics, and the theory was greatly developed in the 20th century. However, Walras's own intentions and ideas behind the theory are still not fully understood. This book aims to clarify the intellectual background of Walras’s economics by delving into his original writings, which have not received much attention until now. Part 1 of the book reconsiders the relationship between Walras and his predecessors, Adam Smith (1723–1790), Jean-Baptiste Say (1767–1832), and Achylle Nicolas Isnard (...
Economic Policy and the History of Economic Thought
This book discusses key issues in economic policy in the context of the history of economic thought. Most of the current and past academic controversies in economics are, explicitly or implicitly, centred around the application and form of economic policy. This is particularly evident in the post-WWII period, with the appearance of economic policy as a distinguishable subfield, but important elements of various economic policy issues can be found throughout the history of economic thought. This book discusses various topics in economic policy – such as questions over state spending and taxation, income redistribution, and the role of money – with each chapter focusing on a particular per...
