A Companion to the History of Economic Thought

Assembling contributions from top thinkers in the field, this Companion offers a comprehensive and sophisticated exploration of the history of economic thought. The volume has a threefold focus: the history of economic thought, the history of economics as a discipline, and the historiography of economic thought. The essays in the first part focus on the history of economic ideas, with topics ranging from ancient, medieval, and Islamic thought, to Marxian, Utopian, and postwar thought. The second part explores important historiographical topics, including the sociology of economics, methodology, exegesis, and textuality. Each essay serves as a complex introduction to the chosen topic, and gathered together they provide an extensive synthesis of the field as a whole. The volume is an essential resource for anyone researching or studying the history of economic thought, and will also serve as an excellent text for courses in this area.

Warren J. Samuels is Professor Emeritus, and former Director of Graduate Programs for the Economics Department at Michigan State University. He is former President of the History of Economics Society and former President of the Association for Social Economics. In 1997 he was made Distinguished Fellow, History of Economics Society. Professor Samuels was Editor of the Journal of Economic Issues and is presently Co-editor of the Journal of Income Distribution. He has been on the Editorial Boards of 16 journals, has written or edited over 40 books, and is widely published in top journals.

Jeff E. Biddle is Professor of Economics at Michigan State University. He is widely published in the field of history of economic thought in such journals as The History of Political Economy, Journal of Labor Economics, and American Economic Review.

John B. Davis is Professor of Economics at Marquette University, and is former President of the History of Economics Society. Professor Davis specializes in history of economic thought and is renowned for his work on John Maynard Keynes. Recently he was a visiting fellow at Clare Hall, Cambridge, UK where he conducted research on Keynes' unpublished manuscripts. Davis is Editor of the Review of Social Economy and his research has been published in The Economic Journal, Cambridge Journal of Economics, Journal of Post-Keynesian Economics, and The History of Political Economics.

List of Figures

ix

List of Tables

x

List of Contributors

xi

Preface

xv

Research Styles in the History of Economic Thought

1

(10)

Jeff E. Biddle

PART I HISTORICAL SURVEYS

Ancient and Medieval Economics

11

(17)

S. Todd Lowry

Contributions of Medieval Muslim Scholars to the History of Economics and their Impact: A Refutation of the Schumpeterian Great Gap

28

(18)

Hamid S. Hosseini

Mercantilism

46

(15)

Lars G. Magnusson

Physiocracy and French Pre-Classical Political Economy

61

(17)

Philippe Steiner

Pre-Classical Economics in Britain

78

(16)

Anthony Brewer

Adam Smith (1723--1790): Theories of Political Economy

94

(18)

Andrew S. Skinner

Classical Economics

112

(18)

Denis P. O'Brien

Post-Ricardian British Economics, 1830--1870

130

(18)

Sandra J. Peart

David M. Levy

Karl Marx: His Work and the Major Changes in its Interpretation

148

(19)

Geert Reuten

The Surplus Interpretation of the Classical Economists

167

(17)

Heinz D. Kurz

Non-Marxian Socialism

184

(17)

J. E. King

Utopian Economics

201

(14)

Warren J. Samuels

Historical Schools of Economics: German and English

215

(16)

Keith Tribe

American Economics to 1900

231

(15)

William J. Barber

English Marginalism: Jevons, Marshall, and Pigou

246

(16)

Peter Groenewegen

The Austrian Marginalists: Menger, Bohm-Bawerk, and Wieser

262

(16)

Steven Horwitz

Early General Equilibrium Economics: Walras, Pareto, and Cassel

278

(16)

Donald A. Walker

The ``First'' Imperfect Competition Revolution

294

(14)

Maria Cristina Marcuzzo

The Stabilization of Price Theory, 1920--1955

308

(17)

Roger E. Backhouse

Interwar Monetary and Business Cycle Theory: Macroeconomics before Keynes

325

(18)

Robert W. Dimand

Keynes and the Cambridge School

343

(17)

G. C. Harcourt

Prue Kerr

American Institutional Economics in the Interwar Period

360

(17)

Malcolm Rutherford

Postwar Neoclassical Microeconomics

377

(18)

S. Abu Turab Rizvi

The Formalist Revolution of the 1950s

395

(16)

Mark Blaug

A History of Postwar Monetary Economics and Macroeconomics

411

(17)

Kevin D. Hoover

The Economic Role of Government in the History of Economic Thought

428

(17)

Steven G. Medema

Postwar Heterodox Economics

445

(46)

The Austrian School of Economics: 1950--2000

445

(9)

Peter J. Boettke

Peter T. Leeson

Feminist Economics

454

(8)

Janet A. Seiz

Institutional Economics

462

(9)

Geoffrey M. Hodgson

Post Keynesian Economics

471

(8)

Sheila C. Dow

Radical Political Economy

479

(12)

Bruce Pietrykowski

PART II HISTORIOGRAPHY

Historiography

491

(16)

Matthias Klaes

The Sociology of Economics and Scientific Knowledge, and the History of Economic Thought

507

(16)

A. W. Bob Coats

Exegesis, Hermeneutics, and Interpretation

523

(15)

Ross B. Emmett

Textuality and the History of Economics: Intention and Meaning

538

(15)

Vivienne Brown

Mathematical Modeling as an Exegetical Tool: Rational Reconstruction

553

(18)

A. M. C. Waterman

Economic Methodology since Kuhn

571

(17)

John B. Davis

Biography and the History of Economics

588

(18)

D. E. Moggridge

Economics and Economics in the Policy Process

606

(16)

Craufurd D. W. Goodwin

The International Diffusion of Economic Thought

622

(12)

Jose Lufs Cardoso

The History of Ideas and Economics

634

(21)

Mark Perlman

Research in the History of Economic Thought as a Vehicle for the Defense and Criticism of Orthodox Economics

655

(14)

John Lodewijks

Name Index

669

(19)

Subject Index

688

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A Companion to the History of Economic Thought

Summary

Author Biography

Table of Contents

Supplemental Materials