Overview

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.

Full Product Details

Author:   Bertram Schefold (Johann-Wolfgang Goethe University, Frankfurt, Germany)
Publisher:   Taylor & Francis Ltd
Imprint:   Routledge
Dimensions:   Width: 15.60cm , Height: 3.00cm , Length: 23.40cm
Weight:   0.748kg
ISBN:  

9781138119239

ISBN 10:   1138119237
Pages:   448
Publication Date:   13 December 2016
Audience:   College/higher education ,  Postgraduate, Research & Scholarly ,  Undergraduate
Format:   Hardback
Publisher's Status:   Active
Availability:   In Print  
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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 Mathematical Principles of the Theory of Wealth [Recherches sur les principes mathématiques de la théorie des richesses] Rudolf Auspitz and Richard Lieben: An Inquiry into Price Theory [Untersuchungen über die Theorie des Preises] 4 Institutionalism Gustav von Schmoller as theoretician In between Historical School and modern Institutionalism: J. R. Commons‘s Institutionalism Johan Åkerman’s The Problem of a Socio-Economic Synthesis [Das Problem der sozialökonomischen Synthese] Alexander W. Chayanov’s The Theory of Peasant Economy 5 Moderns Knut Wicksell’s Interest and Prices [Geldzins und Güterpreise] Heinrich von Stackelberg’s concept of equilibrium: the search for evolutionarily stable market behaviour Paul A. Samuelson’s Foundations of Economic Analysis John R. Hicks’s Value and Capital Alfred Müller-Armack’s path: from interventionary state to the social market economy Market, policy, and society in Wilhelm Röpke Appendix: The Series Klassiker der Nationalökonomie References Index

Reviews

Schefold invites the reader to understand the history of economic thought not as a discipline which primarily wants to discover the earliest author to have expressed a thought which might still be important today. The texts are really interesting only if we recognise a 'political' dimension and try to interpret them as expressions of the will to shape, to preserve or to change the world , he writes. Schefold [...] tries to build a bridge from the traditional history of economic theories to a universal history of economic thought. - Gerald Braunberger, Frankfurter Allgemeine Zeitung (FAZ) ...this is a truly great achievement in the history of economic thought; it is comparable to that of Schumpeter's when he wrote the History of Economic Analysis in the middle of the previous century. - Kiichiro Yagi, Setsunan University, Neyagawa city, Osaka, Japan

Schefold invites the reader to understand the history of economic thought not as a discipline which primarily wants to discover the earliest author to have expressed a thought which might still be important today. The texts are really interesting only if we recognise a `political' dimension and try to interpret them as expressions of the will to shape, to preserve or to change the world , he writes. Schefold [...] tries to build a bridge from the traditional history of economic theories to a universal history of economic thought. - Gerald Braunberger, Frankfurter Allgemeine Zeitung (FAZ) ...this is a truly great achievement in the history of economic thought; it is comparable to that of Schumpeter's when he wrote the History of Economic Analysis in the middle of the previous century. - Kiichiro Yagi, Setsunan University, Neyagawa city, Osaka, Japan

Schefold invites the reader to understand the history of economic thought not as a discipline which primarily wants to discover the earliest author to have expressed a thought which might still be important today. The texts are really interesting only if we recognise a `political' dimension and try to interpret them as expressions of the will to shape, to preserve or to change the world , he writes. Schefold [...] tries to build a bridge from the traditional history of economic theories to a universal history of economic thought. - Gerald Braunberger, Frankfurter Allgemeine Zeitung (FAZ)

Author Information

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.

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