In this unconventionial and sharply written text, Hollander introduces the work of Smith, Ricardo, and Mill, and, on specific topics: Malthus and Marx. He leads the student through the nuances of the arguments, making clear how he agrees with or challenges recieved ideas about their writings. Attention is given to the precursors of the classics, to their immediate successors, and to the Sraffian system.
Authors
- Bibliography, etc. Note
- Includes bibliographical references and index
- Control Number Identifier
- CaOOCEL
- Dewey Decimal Classification Number
- 330.15/3
- Dewey Decimal Edition Number
- 20
- General Note
- Issued as part of the desLibris books collection
- ISBN
- 9780802077646 9781442672994
- LCCN
- HB94
- LCCN Item number
- H65 1992eb
- Modifying agency
- CaBNVSL
- Original cataloging agency
- CaOTU
- Physical Description | Extent
- 1 electronic text (xiv, 485 p.)
- Published in
- Canada
- Publisher or Distributor Number
- CaOOCEL
- Rights
- Access restricted to authorized users and institutions
- System Control Number
- (CaBNVSL)slc00213294 (OCoLC)431556250 (CaOOCEL)421035
- System Details Note
- Mode of access: World Wide Web
- Transcribing agency
- CaOTU
Table of Contents
- Contents 6
- Preface 14
- 1 Introduction 18
- 1.1 Why Study the History of Economics? 18
- 1.2 The Role of the Historian 24
- 1.3 On Method 27
- 1.4 Scope and Plan of the Present Work 29
- Suggested Reading 30
- 2 The Precursors of Adam Smith: an Overview 32
- 2.1 Introduction 32
- 2.2 The Scholastic Tradition 32
- 2.3 The Mercantilists 36
- 2.4 Instances of Analytical Progress: Automatic Adjustment Mechanisms 40
- 2.5 The Eighteenth Century: Allocation Theory 44
- 2.6 The Eighteenth Century: Economic Growth 48
- 2.7 Summary and Conclusion 54
- Suggested Reading 55
- 3 The Physiocrats 57
- 3.1 Introduction 57
- 3.2 Surplus and the 'Tableau Economique' 57
- 3.3 The Price Mechanism 65
- 3.4 Economic Growth 68
- 3.5 The Contribution of A. R. J. Turgot 71
- 3.6 General Overview and Analytical Significance 73
- Suggested Reading 75
- 4 Smith on Value and Distribution 77
- 4.1 Introduction 77
- 4.2 Utility and Scarcity 78
- 4.3 Price Determination 81
- 4.4 The Labour Theory of Value 88
- 4.5 Variable-cost Conditions and the Dynamics of Consumption 89
- 4.6 The Theory of Distribution: Factor Productivity 91
- 4.7 Factor Supply: Land 94
- 4.8 Factor Supply: the Wage and Profit Structures 97
- 4.9 A Model of Value and Distribution 99
- 4.10 Conclusion 101
- Suggested Reading 102
- 5 Ricardo on Value and Distribution 103
- 5.1 Introduction 103
- 5.2 Demand-Supply Analysis 106
- 5.3 Cost Price and Allocative Economics 110
- 5.4 Alternative Opportunities and the Inverse Wage–Profit Relation 113
- 5.5 Cost and Rent 114
- 5.6 Resource Allocation and Distribution 117
- 5.7 The Comparative-Cost Theory of Trade 121
- 5.8 The Measure of Value 123
- 5.9 Profits an 'Exploitation' Income? 129
- 5.10 The Inverse Relation a Truism'? 130
- 5.11 The Inverse Relation and the Monetary Mechanism 131
- 5.12 Summary and Conclusion 132
- Suggested Reading 133
- 6 Mill on Value and Distribution 134
- 6.1 Introduction 134
- 6.2 Short-run Price Formation 135
- 6.3 Consumer Behaviour 137
- 6.4 Demand–Supply Analysis, Cost Price and Profit Rate Equalization 140
- 6.5 The Adjustment Mechanism: an Elaboration 144
- 6.6 Variable-cost Conditions 147
- 6.7 Imperfect Competition 149
- 6.8 The Wage Structure 151
- 6.9 Derived Demand 156
- 6.10 International Values 157
- 6.11 The Fundamental Theorem on Distribution and Allocation Theory 159
- 6.12 Concluding Note 164
- Suggested Reading 164
- 7 Smith on Capital, Employment and Growth 165
- 7.1 Introduction 165
- 7.2 The National Income Accounts 165
- 7.3 The Savings Process 169
- 7.4 Aggregate Employment Capacity 171
- 7.5 The Secular Pattern of Factor Demand and Supply 174
- 7.6 The Trend Path of Factor Returns 179
- 7.7 Economic Development: Technical Progress 183
- 7.8 Economic Development: Investment Priorities and Policy 187
- 7.9 Economic Development: Agriculture 192
- 7.10 Economic Development: the Place of Money 194
- Suggested Reading 195
- 8 Ricardo on Capital, Employment and Growth 196
- 8.1 Introduction 196
- 8.2 Capital and Surplus 196
- 8.3 Capital Supply Conditions 199
- 8.4 'Demand for Commodities is not Demand for Labour' 200
- 8.5 Accumulation in Conditions of Labour Scarcity 202
- 8.6 Accumulation and Employment Capacity: the Problem of Machinery 204
- 8.7 Labour Supply Conditions 208
- 8.8 The Secular Pattern of the Wage and Profit Rates 211
- 8.9 Malthus and the Prudential Wage Path 219
- 8.10 The Secular Pattern of Class Distribution 223
- Suggested Reading 224
- 9 Mill on Capital, Employment and Growth 225
- 9.1 Introduction 225
- 9.2 On Capital and Capital Maintenance 225
- 9.3 Net Investment: 'Demand for Commodities is not Demand for Labour' 227
- 9.4 On Machinery 230
- 9.5 The Wages Fund Theory and Economic Organization 234
- 9.6 The Wages Fund Theory: the Recantation Interpreted 238
- 9.7 The Wages Fund as Equilibrium Solution 240
- 9.8 'Statics' and 'Dynamics' 245
- 9.9 Capital Supply and Labour Supply Conditions 247
- 9.10 The Wage and Profit Paths 250
- 9.11 Applications to Contemporary Conditions 254
- 9.12 The Stationary State 255
- 9.13 Concluding Note 257
- Suggested Reading 257
- 10 Money and Banking: I 258
- 10.1 Introduction 258
- 10.2 J. B. Say and Ricardo and the Law of Markets 259
- 10.3 Malthus and Aggregate Demand 267
- 10.4 J. S. Mill and the Law of Markets 272
- 10.5 Trade Cycle, the Law of Markets and Secular Trend 277
- 10.6 Some New Implications for Policy 279
- 10.7 Money, Prices, Output and Interest: Ricardo 282
- 10.8 Money, Prices, Output and Interest: J. S. Mill 288
- Suggested Reading 295
- 11 Money and Banking: II 296
- 11.1 Introduction 296
- 11.2 Smithian Banking Principles 296
- 11.3 The Gold Standard and Price Stability 301
- 11.4 Aspects of the 'Bullionist' Debates 306
- 11.5 Ricardo and the Return to Gold 310
- 11.6 Mill and the Banking–Currency Debate 314
- 11.7 Mill and Counter-cyclical Monetary Policy 319
- 11.8 Concluding Note 324
- Suggested Reading 325
- 12 Smith on Method 326
- 12.1 Introduction 326
- 12.2 Scientific Method 326
- 12.3 History and the Self-Interest Axiom 329
- 12.4 The Uses of Economic Theory 336
- 12.5 Some Reactions to Smithian Method 338
- Suggested Reading 340
- 13 Ricardo on Method 342
- 13.1 Introduction 342
- 13.2 The Scope of Economics 343
- 13.3 The Relativity of the Behavioural and Technological Axioms: Implications for Policy 346
- 13.4 'Strong Cases' Justified and the Rejection of Over-simplified Models 348
- 13.5 The Problem of the Short Run: the Policy Dilemma 351
- 13.6 Historical Prediction and Theory Confirmation 352
- Suggested Reading 355
- 14 Mill on Method 356
- 14.1 Introduction 356
- 14.2 On Specialization 357
- 14.3 On 'Verification' and Model Improvement 360
- 14.4 The Scope of Economics 363
- 14.5 The Empirical Dimension in the Principles: Some Case Studies 369
- 14.6 Model Improvement 373
- 14.7 Conclusion 374
- Suggested Reading 375
- 15 Classical Features in Marxian Economics 376
- 15.1 Introduction 376
- 15.2 Marxian Allocation Theory: the Transformation Problem 379
- 15.3 The Inverse Wage–Profit Relation 384
- 15.4 The Rate of Surplus Value 385
- 15.5 The 'Scientific' Problem: Marx's Strategy 388
- 15.6 Marx and Malthusianism 394
- 15.7 The Falling Wage Trend 396
- 15.8 Labour Market Conditions and the Role of Population Pressure 398
- 15.9 The Industrial Reserve Army and Cyclical Wage Fluctuations 407
- 15.10 Inter-Sectoral Labour Movements 409
- 15.11 Marx's Objections to Orthodox Classicism Summarized 411
- Suggested Reading 414
- 16 Some Intellectual Linkages 415
- 16.1 Introduction 415
- 16.2 Post-Ricardian Opinion on Value Theory 416
- 16.3 Post-Ricardian Opinion on Distribution Theory 420
- 16.4 Post-Ricardian Opinion on Secular Trends 425
- 16.5 The Inductivist Critics 426
- 16.6 Economics and Ideology 431
- 16.7 Ricardo and J. S. Mill 435
- 16.8 Mill and the Inductivists 437
- 16.9 Conclusion 439
- Suggested Reading 439
- 17 Conclusion: the Classicists and After 441
- 17.1 Introduction 441
- 17.2 A Marginal 'Revolution'? 441
- 17.3 Classical Features in Walrasian Economics 447
- 17.4 On the Cambridge ('Neo-Ricardian') Version of Classicism 451
- Suggested Reading 457
- Appendix 1 The Sraffa Model 458
- A1.1 Introduction 458
- A1.2 The Subsistence Case 458
- A1.3 Production with a Surplus 459
- A1.4 On 'Basics' and 'Non-Basics' 461
- A1.5 The Treatment of Labour 461
- A1.6 The Impact of Changes in the Wage on Prices 463
- A1.7 The Standard Commodity and Distribution 464
- A1.8 The Choice of Independent Distributive Variable 467
- A1.9 Reduction to Dated Labour 467
- A1.10 Land Rent 468
- A1.11 Tastes, Techniques and the Inverse Relation 469
- A1.12 Concluding Note 470
- Appendix 2 Dramatis Personae 471
- Bibliography 474
- Index 490
- A 490
- B 490
- C 490
- D 492
- E 492
- F 492
- G 492
- H 492
- I 493
- J 493
- K 493
- L 493
- M 493
- N 497
- O 497
- P 497
- Q 498
- R 498
- S 499
- T 501
- U 501
- V 501
- W 502
- Y 502
