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Ricardo and International Trade
David Ricardo’s theories have been widely studied and discussed, including the prominent theory on comparative advantage. Ricardo and International Trade looks at the ongoing renaissance of the Ricardian international trade theory. The book’s interpretation brings fresh insights into and new developments on the Ricardian international trade theory by examining the true meaning of the ‘four magic numbers’. By putting together theories of comparative advantage and international money, the book attempts to elucidate Ricardo’s international trade theory in the real world. This book also features contributions from the Japanese perspective and compares Ricardian theories with those of his contemporaries, such as Malthus, Torrens and J. S. Mill. This book will be a valuable reference for researchers and scholars with interests in history of economic thought and international economics.
Slavery and Colonialism in the History of Economic Thought
Atlantic slavery represents one of the blackest pages of human history. European powers not only colonised American lands but also brought African men and women to work as slaves on plantations. Intellectuals did not remain indifferent to this practice and – from the second half of the 18th century – criticised the institution of slavery from an ethical, legal, and economic point of view. This book aims to briefly illustrate the colonisation process implemented by France and Great Britain in the Caribbean and to reconstruct the debate on colonialism and slavery that developed in these two countries, approaching the issue from the standpoint of the History of Economic Thought. The decisiv...
Schumpeter’s General Theory of Capitalism
Joseph A. Schumpeter made multiple contributions to economic science and beyond. Drawing on this wide range of writings, this book argues that Schumpeter provided a theoretical account of capitalism as a total phenomenon. It methodically reconstructs the “general theory” of capitalism present in Schumpeter's work and shows its consistency and limits. The book identifies three key dimensions of a Schumpeterian general theory of capitalism. First, capitalism is defined at its core as a form or method of economic change: the entrepreneur disrupts a static, equilibrium economy (which is the foundation of all economic activities) with the introduction of an innovation. He is an unbalancing an...
Environment and Ecology in the History of Economic Thought
This volume proposes a reconsideration of ecological and environmental aspects of the work and ideas of various heterodox authors and traditions in the history of economic thought, including the field of economic development. Many of the contributors to this book focus on thinkers and works which are not typically considered as part of the ecological sphere, while others consider such economists in a new light or domain. Thus, the book elucidates a new and useful research field of reconsidering ecological dimensions in the traditional history of economic thought as well as helping to delineate alternative views for ongoing debates on ecological themes. Did Veblen, Keynes, Sraffa, C. Furtado ...
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 (...
Adam Smith’s Theory of Value and Distribution
Ever since the time of his early interpreters, beginning with David Hume, Adam Smith’s theory of value has been the subject of confusion and misunderstanding – including a controversy which still rages over whether Smith held a labour theory of value, and, if so, whether he held to it throughout Wealth of Nations, or if it was confined to the “Early and Rude State”? This book provides a close reading of Smith’s key text, and also incorporates material from the other parts of Smith’s oeuvre, especially from The Theory of Moral Sentiments, to yield original and important insights into Smith’s theory of value. The book operates on the assumption that Smith is proposing relatively ...
The Economic Thought of Hilaire Belloc
Hilaire Belloc’s thinking on the economy constitutes, by its originality and acuity, a heterodox approach of the greatest interest in addressing the economic problems of his time and those of our own. Belloc’s main interest as a writer were on economics and history, and his works were praised by economists such as F. A. Hayek or Wilhelm Röpke and political philosophers such as Robert Nisbet and Russell Kirk, but his contributions have been often overlooked. To address that oversight, this book inserts Belloc ́s ideas into the academic dialogue on economics. Despite not being a trained economist, Belloc developed his thought based on a coherent system rooted in original elements such as...
Adam Smith on the Ancients and the Moderns
The classics heavily influenced many aspects of European modern culture, yet it is not easy to trace their intellectual power on any author. In this volume, Gloria Vivenza takes on the impressive task of examining how philosophy, history, literature, politics, and ethics all played a part in shaping Adam Smith’s thought as a scholar, philosopher, and economist. This book will be of interest to advanced students and researchers in the history of economic thought, the history of philosophy, moral philosophy, political theory, and the Enlightenment.
Hegel on Ethics, the State and Public Policy
Drawing on a wide range of Hegel’s writings, this book analyses the Hegelian position on ethical action. This position is systematically compared with that of Immanuel Kant, the comparison emphasizing Hegel’s insistence on a morality grounded in an ‘ethical’ context which essentially refers to the state rather than the agent’s private will. The argument proceeds to the relationship between the state and the various components of civil society, and to the interaction between the state and the individual, and feeds into the debate regarding Hegel’s status in relation to Utilitarian Ethics and liberalism. This book carries further the researches published in A History of Utilitarian Ethics and Immanuel Kant and Utilitarian Ethics and will be of interest to readers in the history of political economy, political science, philosophy and ethics.
