1st Edition

Great Economic Thinkers from the Classicals to the Moderns
Translations from the series Klassiker der National�konomie





ISBN 9780367875534
Published December 19, 2019 by Routledge
448 Pages

USD $47.95

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Book Description

This is the opus magnum of one of the world’s most renowned experts on the history of economic thought, Bertram Schefold. It contains commentaries from the series Klassiker der Nationalökonomie (Classics of Economics), which have been translated into English for the first time. Schefold’s choices of authors for this series, which he has edited since 1991, and his comments on the various re-edited works, are proof of his highly original and thought-provoking interpretation of the history of economic thought.



Together with a companion volume, Great Economic Thinkers from Antiquity to the Historical School: Translations from the series Klassiker der Nationalökonomie, this book is a collection of English translations with introductions by Bertram Schefold. The emphasis of this volume is on the theoretical debates, from the theory of value to imperfect completion; from money to the institutional framework of society; and from the history of economic thought to pioneering works in mathematical economics. This volume is an important contribution to the history of economic thought, not only because it delivers original and fresh insights about well-known figures, such as Marx, Stackelberg, Sraffa, Samuelson, Tooke, Hilferding, Schmoller and Chayanov, but also because it deals with ideas and authors who have been forgotten or neglected in previous literature.



This volume is of great interest to those who study the history of economic thought, economic theory and philosophy, as well as those who enjoyed the author’s previous volume, Great Economic Thinkers from Antiquity to the Historical School.

Table of Contents

Contents



List of tables



Preface and acknowledgments



Detailed Contents for Great Economic Thinkers from Antiquity to the Historical School



Introduction



Two schemes for ordering approaches to the history of economic thought



Institutionalism and ordoliberalism



The development of economic theory since Adam Smith: an ordering according to the theories of value and distribution



1 Classicals



John Locke: a philosopher dedicated to economic thought



The Pamphlets from 1815: a shining moment for economic theory



Sismondi’s Nouveaux Principes d’Economie Politique: classical liberalism, philanthropy, and the experience of history



Charles Babbage’s On the Economy of Machinery and Manufactures



Karl Marx: the significance of the problem of the theory of the forms of value and the transformation of values into prices for capital



Karl Marx: circulation, productivity, and fixed capital



2 Monetary Theory



Thomas Tooke’s An Inquiry into the Currency Principle and the theory of distribution



Walter Bagehot: political economist and publicist in the Victorian era



Rudolf Hilferding and the idea of an organised capitalism



3 Neoclassicals



William Stanley Jevons: the path to modern Utilitarianism



Francis Ysidro Edgeworth’s Mathematical Psychics



Eugen von Böhm-Bawerk: discovery and error in the history of theories of interest



Eugen von Böhm-Bawerk’s Positive Theory of Capital



Irving Fisher’s The Nature of Capital and Income



Irving Fisher’s determination of interest and long-term equilibrium



Vilfredo Pareto’s Manual of Political Economy [Manuale di economia politica]



Increasing returns, competition, and growth



Antoine Augustin Cournot’s An Inquiry into the Ma

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Author(s)

Biography

Bertram Schefold is Senior Professor at the Department of Economics, Goethe-Universität, Germany. He has published more than 40 books and 250 articles on economic theory, history of economic thought, energy policy and general economic policy. He edited the series Klassiker der Nationalökonomie.