An Outline of the history of economic thought - Chapter 1 pdf

... of Economics (18 92); H. Landreth, The Economic Thought of Bernard de Mandeville’, History of Political Economy (19 75); A. H. Leigh, ‘John Locke and the Quantity Theory of Money’, History of ... overturned the theories of Malynes: it is the surplus or the deficit on the balance of trade which makes the rate of exchange vary, and not the other way round....

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... the German Historical School 10 9 3.3. The Theories of Economic Harmony and Mill’s Synthesis 11 1 3.3 .1. The ‘Age of Capital’ and the theories of economic harmony 11 1 3.3.2. John Stuart Mill 11 3 3.3.3. ... 409 10 .3. The Controversy on Marginalism in the Theory of the Firm and Markets 413 10 .3 .1. Critiques of the neoclassical theory of the firm 413...

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... Economics 2 .1. The Laissez-Faire Revolution 2 .1. 1. The preconditions of the Industrial Revolution The 35-year period from the beginning of the Austrian War of Succe ssion in 17 41 to the American Declaration ... which the control of the means of production, and therefore the production, is no longer in the worke rs’ hands. When capitalists and landlords ta...

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... the Depreciation of Bank Notes, 18 10. —— An Essay on the Influence of a Low Price of Corn on the Profit of Stock, 18 15. —— Principles of Political Economy and Taxation, 18 17. 13 0 from ricardo to ... the vaults of the Bank of England. Furthermore, the difficulties of the war and the Continental blockade made the export channels increasingly arduous and...

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... with that of ‘Ricardian economics’: a theoretical system based on the theory of surplus, the labour theory of value, the methodology of aggregates, and the analysis of the behaviour of the social classes ... development of the Ricardian theses about the occupational effects of the introduction of machines). The increase in the ‘reserve army’ will then s...

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... Walras 5.3 .1. Walras’s vision of the working of the economic system The major contribution of Le´on Walras to economic analysis was his theory of the general economic equilibrium. Although the theme of ... centrality of the theory of marginal utility in Menger To understand the terms of Menger’s theoretical battle on the other front, i.e. the critique...

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... hand, the neo-Bo¨hm-Bawerkians of the 19 60s and 19 70s, led by P. Bernholz and M. Faber, tried to go beyond the limits set by the analysis of their master. On the other, economists like 215 the ... impulse of expenditure on the whole economy. However, the of cial date of birth of the multiplier is 19 31. What hap- pened was that the theory, or rather a theo...

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... way of thinking. 7 .1. 5. The multiplier and the accelerator The fourth great stream of thought in dynamic theory in the inter-war period was the study of the interaction between the multiplier and ... years of high theory: i after the 19 29 crash. American loans dried up, while the Bank of France decided to convert its sterling reserves into gold. Then, in 19...

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... Vitalevic Kantorovic (19 12–86), an important Russian mathematician and economist who was a contemporary of Leontief. Among his economic works was Mathematical Methods of the Planning and the Organization ... labour, from the theory of public economics to the theory of the conflict of interests. He be lieved that the study of ‘collective action’, i.e. of the ac...

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... that the new Keynesians have gone even further than the post-Keynesians in studying the microeconomic conditions of real and nominal rigidity and in analysing the macroeconomic effects of the ... important especially because, with his fix-price model, he laid down the theoretical bases of the new Keynesian macro- economics of the 19 80s. The fix-price approach, propos...

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