Tag Archives: history of economic thought

Political Economy: Origins, Meanings, Changes

“Political economy should be a human science.”                                                                    … Continue reading

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Finance, Class, and the Birth of Neoclassical Economics: The Marginalist Revolution Revisited

by Yair Kaldor* In economic textbooks, the concept of “value” is regarded as nothing more than the prevailing market price. This definition might seem self-evident, but it stands in sharp contrast to the classical theories of Adam Smith and David … Continue reading

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No Reality, Please. We’re Economists.

Professor Mark Blaug (1927–2011) was a distinguished Dutch-born British economist and historian of economics.  Besides shorter periods in public service and in international organisations (such as UNESCO, ILO, World Bank), he has held academic appointments in several prestigious universities worlwide. … Continue reading

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Believe it or not — the Nobel Prize in Economic Sciences committee’s reasoning for awarding Milton Friedman. You better believe it! He believed…

Apparently, it’s all about belief… “A large part of Friedman’s conclusions about the possibilities of economic policy is based on his liberal belief in the positive, built-in properties of a functioning market economy.” (“The Prize in Economics 1976 – Presentation … Continue reading

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The Past, Present, and Future of Economics for History

The summer issue of Social Science History was devoted to the theme of “The Past, Present, and Future of Economics for History” and it has several interesting papers (open access): – Perhaps We Can Talk: David B. Riden Comments for “Taking Stock … Continue reading

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After Adam Smith: A Century of Transformation in Politics and Political Economy

In After Adam Smith: A Century of Transformation in Politics and Political Economy Murray Milgate & Shannon C. Stimson remind us that many intellectuals shaped different ways of thinking about economics and politics after Adam Smith- Thomas Malthus, David Ricardo, James Mill, … Continue reading

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