This collection of twelve original essays commissioned by Britain's Royal Economic Society commemorates the 1990 centennial of the first publication of Alfred Marshall's Principles of Economics, one of the truly seminal works in the history of the subject. Marshall, who lived from 1842 to 1924, was the founder of the Cambridge school of economics and the teacher of John Maynard Keynes. Each of the twelve essays in this volume focuses on some aspect or aspects of Marshall's (...) work, life, or legacy. His magnum opus, the Principles, receives considerable attention, but the discussion is not narrowly restricted to that work - which was in any case only a portion of a larger project, never completed. John Whitaker's essay sets out the detailed history of Marshall's failure to complete the projected second volume of the Principles, and describes the thorny path leading to the publication of Industry and Trade in 1919 and Money Credit and Commerce in 1923. (shrink)

This is the first of a three-volume work constituting a comprehensive, scholarly edition of the correspondence of the English economist, Alfred Marshall, one of the leading figures in the development of economics and the founder of the Cambridge School of Economics. The edition fills a long-standing gap in the history of economic thought with hitherto unpublished material. Students will find it a basic resource for understanding the development of economics and other social sciences in the period since 1870. (...) In particular, it provides much new information about Marshall's views on economic, social and political issues, his struggles to promote the teaching of economics at the University of Cambridge, and his relations with colleagues in Cambridge and elsewhere. Marshall's letters are notable for their frankness and spontaneity. (shrink)

This is the second of a three-volume work constituting a comprehensive, scholarly edition of the correspondence of the English economist, Alfred Marshall, one of the leading figures in the development of economics and the founder of the Cambridge School of Economics. The edition fills a long-standing gap in the history of economic thought with hitherto unpublished material. Students will find it a basic resource for understanding the development of economics and other social sciences in the period since 1870. (...) In particular, it provides much new information about Marshall's views on economic, social and political issues, his struggles to promote the teaching of economics at the University of Cambridge, and his relations with colleagues in Cambridge and elsewhere. Marshall's letters are notable for their frankness and spontaneity. (shrink)

This three-volume work constitutes a comprehensive scholarly edition of the correspondence of the English economist, Alfred Marshall, one of the leading figures in the development of economics and the founder of the Cambridge School of Economics. The edition fills a long-standing gap in the history of economic thought with hitherto unpublished material. Students will find it a basic resource for understanding the development of economics and other social sciences in the period since 1870. In particular, it provides much (...) new information about Marshall's views on economic, social and political issues, his struggles to promote the teaching of economics at the University of Cambridge, and his relations with colleagues in Cambridge and elsewhere. Marshall's letters are notable for their frankness and spontaneity. (shrink)

This book constitutes a supplement to the 1926 account of Alfred Marshall's Official Papers edited by John Maynard Keynes. The book presents material which Keynes did not include, editorial notes and introductions to the various pieces. It focuses on the advice that Marshall, a founding father of modern economics, offered to the British government in the late nineteenth century. The topics covered include education, the role of women, trade unions, unemployment, public enterprise, the quantity theory of money, (...) inflation and trade, benefits of free trade and dangers of protection. The material offers valuable insights into policy thinking at the time, much of which has a surprising degree of relevance to pressing policy issues during our own time. The contents facilitates understanding this doyen of British economics and founder of the Cambridge School of Economics. (shrink)

This is the third of a three-volume work constituting a comprehensive, scholarly edition of the correspondence of the English economist, Alfred Marshall, one of the leading figures in the development of economics and the founder of the Cambridge School of Economics. The edition fills a long-standing gap in the history of economic thought with hitherto unpublished material. Students will find it a basic resource for understanding the development of economics and other social sciences in the period since 1870. (...) In particular, it provides much new information about Marshall's views on economic, social and political issues, his struggles to promote the teaching of economics at the University of Cambridge, and his relations with colleagues in Cambridge and elsewhere. Marshall's letters are notable for their frankness and spontaneity. (shrink)

This is the third of a three-volume work constituting a comprehensive, scholarly edition of the correspondence of the English economist, Alfred Marshall, one of the leading figures in the development of economics and the founder of the Cambridge School of Economics. The edition fills a long-standing gap in the history of economic thought with hitherto unpublished material. Students will find it a basic resource for understanding the development of economics and other social sciences in the period since 1870. (...) In particular, it provides much new information about Marshall's views on economic, social and political issues, his struggles to promote the teaching of economics at the University of Cambridge, and his relations with colleagues in Cambridge and elsewhere. Marshall's letters are notable for their frankness and spontaneity. (shrink)

The Metaphysical Society was founded in 1869 at the instigation of James Knowles (editor of the Contemporary Review and then of the Nineteenth Century) with a view to 'collect, arrange, and diffuse Knowledge (whether objective or subjective) of mental and moral phenomena' (first resolution of the society in April 1869). The Society was a private dining and debate club that gathered together a latter-day clerisy. Building on the tradition of the Cambridge Apostles, they elected talented members from across the Victorian (...) intellectual spectrum: Bishops, one Cardinal, philosophers, men of science, literary figures, and politicians. The Society included in its 62 members prominent figures such as T. H. Huxley, William Gladstone, Walter Bagehot, Henry Edward Manning, John Ruskin, and Alfred Lord Tennyson. (shrink)

The welfare state was characterised by two central principles: universality and equality.It can be argued that the development of education in New Zealand was shaped and maintained by both these ideals.The public benefits of education were not, however, simply the sum of individual private benefits, for norms such as political or civic tolerance, literacy, or the values required for democratic functioning adhere to the quality of a community and are not reducible to, or contained in, the psychological characteristics of individuals.The (...) early New Zealand educators claimed that in order that public benefits might be derived from schooling, and as an essential precondition of citizenship, all children should receive an education with common features whether they lived in town or in rural districts, whether they were rich or poor, black or white, and irrespective of their religion or their cultural practices.As Fraser expressed it in 1939:The government's objective, broadly expressed, is that every person, whatever the level of his academic ability, whether he be rich or poor, whether he live in town or country, has a right as a citizen to a free education of a kind for which he is best fitted and to the fullest extent of his powers. (shrink)

The Metaphysical Society was founded in 1869 at the instigation of James Knowles (editor of the Contemporary Review and then of the Nineteenth Century) with a view to "collect, arrange, and diffuse Knowledge (whether objective or subjective) of mental and moral phenomena" (first resolution of the Society in April 1869). The Society was a private club which gathered together a latter-day clerisy. Building on the tradition of the Cambridge Apostles, they elected talented members from across the Victorian intellectual spectrum: Bishops, (...) one Cardinal, philosophers, men of science, literary figures, and politicians. The Society included in its 62 members prominent figures such as T. H. Huxley, William Gladstone, Walter Bagehot, Henry Edward Manning, John Ruskin and Alfred Lord Tennyson. The papers they produced are key primary sources which shed new light on the ideas of their authors on the burning subjects of the day, ranging from the existence and personality of God to the nature of conscience or the existence of the soul. They are a legacy of a period when intellectuals were wondering how, and what, to believe in a time of social change, spiritual crisis, and scientific progress. The dissolution of the Society in 1880 did not diminish the value of the papers: they illustrate a tradition of private, open discussion among famous men of the most widely varying views; they offer detailed insight into the evolution of the relationships between different schools of Victorian scientific and religious thought; and they bring to light heretofore under-represented points of conflict and harmony. All 95 papers are included, accompanied by introductions and scholarly notes that set each paper into their proper context. (shrink)

This paper begins by asking a simple question: can a farmer own and fully utilise precisely five tractors and precisely six tractors at the same time? Of course not. He can own five or he can own six but he cannot own five and six at the same. The answer to this simple question eventually led this author to Alfred Marshall's historically-ignored, linguistically-depicted 'cardboard model' where my goal was to construct a picture based on his written words. More (...) precisely, in this paper the overall goal is to convert Marshall's ('three-dimensional') words into a three-dimensional picture so that the full import of his insight can be appreciated by all readers. After a brief digression necessary to introduce Euclidean three-dimensional space, plus a brief digression to illustrate the pictorial problem with extant theory, the paper turns to Marshall's historically- ignored words. Specifically, it slowly constructs a visual depiction of Marshall's 'cardboard model'. Unfortunately (for all purveyors of extant economic theory), this visual depiction suddenly opens the door to all manner of Copernican heresy. For example, it suddenly becomes obvious that we can join the lowest points on a firm's series of SRAC curves and thereby form its LRAC curve; it suddenly becomes obvious that the firm's series of SRAC curves only appear to intersect because mainstream theory has naively forced our three-dimensional economic reality into a two-dimensional economic sketch; and it suddenly becomes obvious that a two-dimensional sketch is analytically useless because the 'short run' (SR) never turns into the 'long run' (LR) no matter how long we wait. (shrink)

The European Legacy, Volume 17, Issue 5, Page 694-696, August 2012.

Today the economic diagram is employed universally in teaching and research by professional economists. Yet the history of its construction shows that much that has been regarded as distinctive of twentieth-century visual culture was prefigured in the nineteenth. This paper will place the construction of the first economic diagrams by Alfred Marshall in the context both of contemporary visual technologies developed in other moral sciences, and of his wider theory of industrial production. The paper will argue that an (...) understanding of the background to the historical graphs, constructed by the Cambridge political economist from the late 1860s onwards, will necessitate a revision of the narrative of modern visual reasoning, as recently advanced by Lev Manovich. (shrink)

Brian Lleiter : Leiter reports -- Jason Stanley : philosophy as the great naïveté -- Eric Schwitzgebel : the splintered skeptic -- Mark Rowlands : hour of the wolf -- Eric T. olson : the philosopher with no hands -- Craig Callender : time lord -- Kieran Setiya : what Anscombe intended and other puzzles -- Kit Fine : metaphysical kit -- Patricia Churchland : causal machines -- Valerie Tiberius : mostly elephant, ergo -- Peter Carruthers : mind reader -- (...) Joshua Knobe : indie rock virtues -- Alfred R. Mele : the four million dollar philosopher -- Graham Priest : logically speaking -- Ursula Renz: after Spinoza : wiser, freer, happier -- Cecile Fabre: on the intrinsic value of each of us -- Hilde Lindemann : no ethics without feminism -- Elizabeth S. Anderson : the new leveller -- Christine Korsgaard: treating people as end in themselves -- Michael Lynch : truth, reason and democracy -- Timothy Williamson : classical investigations -- Ernie Lepore : meaning, truth, language, reality -- Jerry Fodor : meaningful words without sense, and other revolutions -- Huw Price : without mirrors -- Gary Gutting : what philosophers know. (shrink)

This book provides both an explanation of the inflation which has bedeviled economic policy in the West since the end of World War II and a micro-economic theory to purge Keynesian models of the Walrasian strain derived from Marshall's Principles. By focusing on what is taken to be the representative business firm of the twentieth century - the large corporation or megacorp - the microeconomic model presented in the book reverses the usual assumptions of economic analysis. Instead of assuming (...) the existence of firms with no control over prices, the book examines how the megacorp uses its pricing power to finance its own internal rate of growth. The result is a determinant model of how prices are set under the sort of oligopolistic conditions which prevail in most modern industries throughout the world. (shrink)

This is a summarised version of my MSocSc Thesis "The development of 'The Structure of Social Action' in the Early Writings of Talcott Parsons" written in 1978 under the supervision of Professor David Bettison.

In the discourse of 18th-century British intellectuals the term 'luxury' held a well-recognized and much disputed place. Dispute arose chiefly around the problem of disentangling the economic, moral-theological and political strands of the term. The object of the present paper is to trace forward the history of debate over the concept along one develop ing line of specialization - that of 19th-century political economy. It will be seen how the term luxury (and related terms: necessity, decency, productive, unproductive, etc.) adjusted (...) meaning(s) as the economic, social and intellectual contexts in which it was embedded themselves mutated. In particular, it is argued, the changing significance attached to the term illustrates the extent to which a key 19th-century intellec tual elite managed to accommodate the implications of a transition from a society based on assumptions of scarcity and hierarchy to one that was beginning to contemplate the possibility of mass market abun dance. While the profession's leaders did develop a sharpened interest in aspiration to luxury consumption as a legitimate motor of economic growth, all registered their disapproval of certain forms of the aspira tion, revealing in the process a variety of class, gender and 'race' pre occupations - including (from J. S. Mill onwards) a particular distaste for positional or status-related consumption. (shrink)

Alfred Marshall was the most retiring and unworldly of all the great economists. Yet, he used his reign as Professor of Political Economy at Cambridge to construct for himself an overbearing economic orthodoxy not just around his own theories but also around his vision of the economics of the future. Dr Maloney's study of the Marshallian establishment sheds much light on how, and why, early in the twentieth century, one set of economic ideas came to exert a dominant (...) influence which has persisted. It will prove essential reading for historians of economics and for those interested more generally in the history of ideas. (shrink)

The rationale for liberal economic policies refers inter alia to the so-called producer and consumer surpluses, namely welfare concepts which were proposed by Alfred Marshall in his seminal work Principles of Economics, first published in 1890. In the case of trade policy, relying on surpluses and referring to the 'small country case', it is recommended to remove tariff barriers imposed on the imports of commodities because it should increase welfare and, in theory at least, the losers of such (...) a trade policy orientation can be compensated with the use of adequate transfers from winners. Despite extensive use, the concept of surpluses still raises key questions that may alter the case for free trade. Thus, from a purely semantic perspective, the concept of producer, as presented in Marshall's work, seems to be broader than the concept which is proposed in the dominant economic discourse; in other words, workers should also be seen as producers. Assuming that the workers are considered as producers, their wage rents must be taken into account when discussing the impacts of trade liberalisation; in addition, the welfare costs of unemployment caused by the opening of national economies should be included – as a result, the case for free trade weakens considerably, it could even vanish. (shrink)

Alfred Marshall's ethics, critically examined by Parsons in the 1930s and often the target of unfair remarks in the past, has become the object of more sympathetic and detailed studies in recent years. These studies have tried to redress the balance that had been upset by routine criticisms, and to prove that Marshall's interest in ethics was neither lip-service to conventional morality nor uncritical acceptance thereof. Moreover, they have vindicated Marshall's claim that his economics, though unconnected (...) to any ethical philosophy, was still one of the moral sciences, inseparable from ethical considerations. (shrink)

This text was originally delivered as the Marshall Lectures in Cambridge in 1967-1968 and one would expect that Alfred Marshall, the great economist of the liberal tradition, would come off the better in comparison with Karl Marx. The expectation is not disappointed, but in the end Kerr finds both Marshall and Marx equally irrelevant to the problems of the contemporary world. The liberalism and socialism which helped shape the modern world now stand historically exhausted. The formative (...) influence in the world is no longer the struggle between classes or between socialism and capitalism. The struggle now is within one pluralistic world, whose industrial nature embraces the socialist as well as the capitalist sectors. The nature of the struggle is no longer for the possession of property, but for power--power to set the rules, fix the rewards, and influence the style of life. Those who engage in the struggle are not economic classes, but social groups and individuals. There is a challenge to the whole society, but by its very nature it cannot succeed. The challenge comes from the under-class and from the outer-class. All other elements, including the workers, the managers, leaders, white-collar employees and self-employed, make up the inner-class and conduct the struggle for power within the framework of acceptance of the existing social order. The two points to emphasize here are that the under-class and outer-class do not have the combined strength to win out, except with the support of some dominant groups of the inner-class--a fairly hopeless prospect. Secondly, no group can win conclusively, since authority in a highly industrialized society can never be held equally by all, or entirely by one. We can only conclude from Kerr's exposition that mankind is forever stuck with what Hegel called a "bad infinity." Post-capitalism and post-socialism have no place to go and a new "end of history" has been attained. Kerr concludes wistfully that we "can only envy the optimism of Marx and Marshall that surround their views of the evolution of the working class."--H. B. (shrink)

Analysis in social theory of the pluralistic aspects of social change in the capitalist system, with particular reference to the USA - covers the social structure, economic growth, political aspects of social movements, the role of interest groups (incl. Trade unions), sociological aspects of industrial development, social implications of education (incl. Youth unrest of students), trends, etc. References.

The essay reconstructs the contradictory nature of the concept of cooperation, highlighting historically some of the antinomies that remain latent even in the modern usage of this concept. Through the analysis and comparison of the texts of Adam Smith, Karl Marx, Émile Durkheim and Alfred Marshall two problematic axes of the concept are particularly stressed: cooperation as an extension of the human potential in opposition to cooperation as objectification and exploitation; cooperation as social norm in opposition to the (...) cooperation of the cooperative movement. These antinomies are not exceeded in a harmonious and all-encompassing concept of cooperation, but instead are brought into play to return the complexity and the internal contradictions of a concept that runs through the sociological, economic and political contemporary debate. (shrink)

Economics for Alfred Marshall, the last of the classical economists, is concerned with activities in the ordinary business of life. In that milieu, we find conflicts and chaotic behavior among people, firms, and countries, which make them conduct their affairs in different, and sometimes, ironic ways. Economic Ironies Throughout History explores, explains, predicts, and harnesses these ironies for economists and scholars alike. Szenberg and Ramrattan distill their core economic ironies from a vast history of philosophy and literature that (...) applies to economic thought. They include philosophical, psychological, literary and linguistic discussions and the personalities behind those ideas such as Socrates, Kierkegaard, Hume, Freud, Jung, Saussure, and Barthes. This book is ideal for economists as well as scholars across the business, social science, and humanities fields. (shrink)

Joan Robinson was one of the greatest economists of the twentieth century and a fearless critic of free-market capitalism. A major figure in the controversial 'Cambridge School' of economics in the post-war period, she made fundamental contributions to the economics of international trade and development. In Economic Philosophy Robinson looks behind the curtain of economics to reveal a constant battle between economics as a science and economics as ideology, which she argued was integral to economics. In her customary vivid and (...) pellucid style, she criticizes early economists Adam Smith and David Ricardo, and neo-classical economists Alfred Marshall, Stanley Jevons and Leon Walras, over the question of value. She shows that what they respectively considered to be the generators of value - labour-time, marginal utility or preferences - are not scientific but 'metaphysical', and that it is frequently in ideology, not science, that we find the reason for the rejection of economic theories. She also weighs up the implications of the Keynesian revolution in economics, particularly whether Keynes's theories are applicable to developing economies. Robinson concludes with a prophetic lesson that resonates in today's turbulent and unequal economy: that the task of the economist is to combat the idea that the only values that count are those that can be measured in terms of money. This Routledge Classics edition includes a new foreword by Sheila Dow. (shrink)

The Wealth of Ideas, first published in 2005, traces the history of economic thought, from its prehistory to the present day. In this eloquently written, scientifically rigorous and well documented book, chapters on William Petty, Adam Smith, David Ricardo, Karl Marx, William Stanley Jevons, Carl Menger, Léon Walras, Alfred Marshall, John Maynard Keynes, Joseph Schumpeter and Piero Sraffa alternate with chapters on other important figures and on debates of the period. Economic thought is seen as developing between two (...) opposite poles: a subjective one, based on the ideas of scarcity and utility, and an objective one based on the notions of physical costs and surplus. Professor Roncaglia focuses on the different views of the economy and society and on their evolution over time and critically evaluates the foundations of the scarcity-utility approach in comparison with the Classical/Keynesian approach. (shrink)

This book is about forming effective critiques of neoclassical economics. Its focus is on constructive criticism of the foundations neoclassical theory, beginning with what Alfred Marshall called the `Principles of Economics'. It concludes that there is still much that can be done to make neoclassical economics more realistic.

Previously published as special issues of _The European Journal of the History of Economic Thought_ and _The Review of Political Economy_, this volume contains the papers devoted to the life and work of Piero Sraffa. Sraffa was a leading intellectual of the twentieth century. He was brought to Cambridge by John Maynard Keynes and had an important impact on the philosopher Ludwig Wittgenstein. He received the golden medal Söderström of the Swedish Academy of Sciences for his edition of David Ricardo's (...) _Works and Correspondence_ and he is the author of _Production of Commodities by Means of Commodities_, one of the most often cited book in economics. Using hitherto unpublished material from Sraffa's literary heritage kept at Trinity College, Cambridge, the papers throw new light on the intellectual development of the young Sraffa and correct several of the received views on him and his contribution. Themes covered concern his: objectivism rediscovery and reformulation of the classical theory of value and distribution criticism of Alfred Marshall's analysis relationship with his Cambridge colleagues and friends biography around the time when he left Italy for the UK friendship with Wittgenstein and his impact on the latter's thinking. (shrink)

This volume offers an exciting new reading of John Ruskin's economic and social criticism, based on recent research into rhetoric in economics. Willie Henderson uses notions derived from literary criticism, the rhetorical turn in economics and more conventional approaches to historical economic texts to reevaluate Ruskins economic and social criticism. By identifying Ruskin's rhetoric, and by reading his work through that of Plato, Xenophon, and John Stuart Mill, Willie Henderson reveals how Ruskin manipulated a knowledge base. Moreover in analysis of (...) the writings of William Smart, John Bates Clark and Alfred Marshall, the author shows that John Ruskin's influence on the cultural significance of economics and on notions of economic well-being has been considerable. (shrink)

In Great Economists before Keynes, a chronological guide is included for readers wishing to trace the development of economic thought from early mercantilist writings to the pivotal work of John Maynard Keynes. Each article briefly discusses the life and enduring contributions of economists such as Adam Smith, Alfred Marshall, David Ricardo, and Leon Walras. Wherever possible, portraits accompany the text. Mark Blaug is Emeritus Professor of the Economics of Education at the University of London Institute of Education, and (...) Consultant Professor at the University of Buckingham. He is the author of numerous articles and books in the field of economics and economic history, including Economic Theory in Retrospect, an established classic in the field. (shrink)

Donald Winch completes the intellectual history of political economy begun in Riches and Poverty. A major theme addressed in both volumes is the 'bitter argument between economists and human beings' provoked by Britain's industrial revolution. Winch takes the argument from Mill's contributions to the 'condition-of-England' debate in 1848 through to the work on economic wellbeing of Alfred Marshall. The writings of major figures of the period are examined in a sequence of interlinked essays that ends with consideration of (...) the twentieth-century fate of the debate between utilitarians and romantics in the hands of Leavis, Williams and Thompson. Donald Winch is one of Britain's most distinguished historians of ideas, and Wealth and Life brings to fruition a long-standing interest in the history of those intellectual pursuits that have shaped the understanding of Britain as an industrial society, and continue to influence cultural responses to the moral questions posed by economic life. (shrink)

The root of any system of economic theory is the theory of price. But while modern Austrian economists have put a great deal of effort and ingenuity into building up the superstructure of their discipline since the mid-1970s, they have paid scant attention to ensuring that the price theory supporting the edifice is a sound and settled doctrine. The result is that, for many current Austrians, price theory is a “dynamic” version of neoclassical price theory. More precisely, it is Chicago (...) price theory with a theory of entrepreneurship and of competition as a rivalrous process grafted onto it. This ad hoc approach to Austrian price theory thus relies heavily on the analytical tools and techniques developed by Alfred Marshall, Frank Knight, and Jacob Viner. George Stigler later elaborated these individual contributions into a systematic price theory.The prevailing approach almost completely ignores the fact that there exists an alternative “causal-realist” tradition of price theory that was founded by Carl Menger and developed by his followers both in Austria and abroad. These include especially Böhm-Bawerk, J.B. Clark, Frank Fetter, Herbert Davenport, Philip Wicksteed, and Ludwig von Mises. The causal-realist tradition, which is explicitly anti-Marshallian and anti-Stiglerian, maintained a shadowy presence in Austrian economics for most of the postwar period. It is only in recent years that some Austrian economists, seeking a sound price theory to sure up the foundations of their discipline, have explicitly recognized and embraced it.Israel M. Kirzner’s neglected book, Market Theory and the Price System, which was first published in 1963 and reprinted in a new edition this year, was the first and only systematic attempt to marry Stiglerian price theory with elements of the causal-realist tradition. Murray N. Rothbard, who had already reformulated and significantly advanced the causal-realist tradition in his own treatise Man, Economy, and State, wrote a comprehensive and quite critical referee report on Kirzner’s book manuscript for the publisher in 1961. His comments have never been published before.This article contains two parts. The first part is a response to certain claims and omissions made by Peter J. Boettke and Frédéric Sautet, the editors of the new edition of Kirzner’s book. The second part contains Rothbard’s report on the book as a supporting document for the arguments of the first part. By proceeding in this way the goal is to clarify the important issues at stake for Austrian price theory. (shrink)

Starting from an ambiguity in the title of the recently published journal Economics and Philosophy, this article tries to comment on the task of a philosophy of economics from a more or less continental point of view (no claim to uniqueness being involved however).Seen in this light, the general philosophical relevance of such topics as the reading of economic texts, the choice between absolutism or relativism in the history of economic thought, the relation between ethics and economics, is open to (...) reassessment. Although all of these themes have been subject to heated debates, they hitherto seemed to belong to that most isolated of all domains — the one reflected upon by economic philosophy. We believe however that, as it stands, these themes reveal a problematics not unfamiliar to that of philosophy at large. This becomes clear by focusing the analysis on the discourse on primi-tiveness in Alfred Marshall's Principles of Economics (1890¹-1920⁸), a text the importance of which for the development of economic theory is undeniable. Indeed, the main concept brought to the fore by this analysis — the autoreferential structure of economics — raises questions that call for a metatheoretical treatment, — questions very similar to the ones raised in recent work of Michel Foucault and Jacques Derrida, among others. Our main objective being to prepare the field for such a metaphilosophy of economics, only some rough indications are given. Foucault's remarks on co-constitution and Derrida's comments on original retardation could be used to counter a tendency to objectivism characteristic of the human sciences and of economics in particular, by reinscribing the problem of the authority of (human) science in its Utopian structure. (shrink)

The main point of this paper is to contribute to understanding Milton Friedman’s (1953) “The Methodology of Positive Economics” (hereafter F1953), one of the most influential statements of economic methodology of the twentieth century, and, in doing so, help discern the non trivial but complex role of philosophic ideas in the shaping of economic theorizing and economists’ self-conception. It also aims to contribute to a better understanding of the theoretical origins of the so-called ‘Chicago’ school of economics. In this paper, (...) I first present detailed textual evidence of the familiarity of George Stigler with the early work of Talcott Parsons, the most important American translator and disseminator of Max Weber’s ideas, who also helped create sociology as a distinct discipline in the United States. The Chicago-Parsons link is no surprise because historians have known that Frank Knight and Parsons corresponded, first about translating Weber and then about matters of mutual interest. Knight, who was a doctoral advisor to Stigler and teacher of Milton Friedman, was not merely the first American translator of Weber, but remained keenly and, perhaps, increasingly interested in Weber throughout his life. I am unfamiliar with any investigation of the Weberian influence on Knight’s students. I show that Stigler praises Parsons’ treatment of Alfred Marshall, who plays an outsized role in Friedman’s self-conception of economics and economic theory. I also show that Stigler calls attention to the methodological similarity between Friedman and Parsons. Finally, I turn to F1953, and I show, first, that some of its most distinctive and philosophically interesting claims echo Parsons’ treatment of methodological matters; second that once alerted one can note Weberian terminology in F1953. (shrink)

No doubt men are capable even now of much more unselfish service than they generally render; and the supreme aim of the economist is to discover how this latent social asset can be developed more quickly and turned to account more wisely. (Alfred Marshall, Principles of Economics , p. 8).

The use of ceteris paribus clauses in philosophy and in the sciences has a long and fascinating history. Persky (1990) traces the use by economists of ceteris paribus clauses in qualifying generalizations as far back as William Petty’s Treatise of Taxes and Contributions (1662). John Cairnes’ The Character and Logical Method of Political Economy (1857) is credited with enunciating the idea that the conclusions of economic investigations hold “only in the absence of disturbing causes”.1 His Leading Principles (1874) contains the (...) classic example of a ceteris paribus law: “The rate of wage, other things being equal, varies inversely with the supply of labour”. Carines’ ideas were popularized by Alfred Marshall in his Principles of Economics (1890) where he argued for a methodology that involved holding disturbing causes “in a pound called Caeteris Paribus”. It is unclear when the notion of ceteris paribus laws made its appearance in the philosophical literature; but in the nineteenth century it is to be found in Mill’s System of Logic (1843), and in the twentieth century it gained prominence in the Hempel-inspired debates of the 1950’s over the role of general laws in historical explanations, albeit under other labels such as quasi-laws (Rescher) or grounded generalizations (Scriven). (shrink)

The Moral Imagination describes how some of the most provocative thinkers of modern times, coming from different traditions, responding to different concerns, and writing in different genres, shared a moral passion that permeated their work. The second edition includes a revised introduction and three new essays on Adam Smith, Lord Acton, and Alfred Marshall.

Meer dan een halve eeuw domineerde John Stuart Mills Principles of Political Economy het denken over economie. Met Alfred Marshalls Principles of Economics kwam een einde aan deze hegemonie. Voorzover zijn economisch gedachtegoed al niet in de vergetelheid raakte, kreeg de beoordeling van Mill als economist al snel een minder positieve toonzetting. De kritiek werd mede ingegeven door misverstanden opgeroepen door pogingen Mills opvattingen over economie los te weken van zijn sociale filosofie. Naast kwalificaties als weinig origineel en onvoldoende (...) consistent, werd hem aangerekend dat hij de Ricardiaanse economie bleef uitdragen ondanks een groeiende kloof tussen theorie en maatschappelijke werkelijkheid. Samenvattend is dan ook wel eens opgemerkt dat ‘economen Mill gewoonlijk afschilderen als onsamenhangend, eclectisch of dwaas’. (shrink)

In the years 1878 and 1879 the American physicist Alfred Marshall Mayer published his experiments with floating magnets as a didactic illustration of molecular actions and forms. A number of physicists made use of this analogy of molecular structure. For William Thomson they were a mechanical illustration of the kinetic equilibrium of groups of columnar vortices revolving in circles round their common centre of gravity . A number of modifications of Mayer's experiments were described, which gave configurations which (...) were more or less analogous to Mayer's arrangements. It was Joseph John Thomson who, in publications between 1897 and 1907, used Mayer's results to obtain a good deal of insight into the general laws which govern the configuration of the electrons in his atomic model. This article is mainly concerned with Mayer's experiments with floating magnets and their use by a number of physicists. Through his experiments Mayer made a significant, although small, contribution to the theory of atomic structure. (shrink)