TY  - BOOK
AU  - Hunt,E.K.
AU  - Lautzenheiser,Mark
TI  - History of Economic Thought: A Critical Perspective
SN  - 9781317468592
AV  - HB75 -- .H868 2015eb 
U1  - 330.09 
PY  - 2011///
CY  - Oxford
PB  - Taylor & Francis Group
KW  - Economics -- History
KW  - Electronic books
N1  - Cover -- Half Title -- Title Page -- Copyright Page -- Table of Contents -- List of Tables and Figures -- Foreword -- Preface -- Acknowledgments -- 1. Introduction -- A Definition of Capitalism -- Precapitalist European Economy -- The Increase in Long-Distance Trade -- The Putting-Out System and the Birth of Capitalist Industry -- Decline of the Manorial System -- Creation of the Working Class -- Other Forces in the Transition to Capitalism -- Mercantilism -- 2. Economic Ideas Before Adam Smith -- Early Mercantilist Writing on Value and Profits -- Later Mercantilist Writings and the Philosophy of Individualism -- Protestantism and the Individualist Ethic -- Economic Policies of Individualism -- Beginnings of the Classical Theory of Prices and Profits -- The Physiocrats as Social Reformers -- Quesnay's Economic Ideas -- Conclusion -- 3. Adam Smith -- Historical Context of Smith's Ideas -- Smith's Theories of History and Sociology -- Smith's Value Theory -- Smith's Theory of Economic Welfare -- Class Conflict and Social Harmony -- 4. Thomas Robert Malthus -- Class Conflicts of Malthus's Times -- The Theory of Population -- Economics of Exchange and Class Conflict -- The Theory of Gluts -- 5. David Ricardo -- The Theory of Rent and First Approach to Profits -- Economic Basis of Conflict Between Capitalists and Landlords -- The Labor Theory of Value -- Price Determination with Differing Compositions of Capital -- A Numerical Example of Price Determination -- Distribution of Income and the Labor Theory of Value -- The Impossibility of Gluts -- Machinery as a Cause of Involuntary Unemployment -- The Theory of Comparative Advantage and International Trade -- Social Harmony and Class Conflict -- 6. Rationalistic Subjectivism: The Economics of Bentham, Say, and Senior -- Social Origins of the Premises of Utility Theory -- Jeremy Bentham on Utility; Bentham as a Social Reformer -- Jean-Baptiste Say on Utility, Production, and Income Distribution -- Say's Law of Markets -- Nassau Senior's Social Orientation -- Senior's Theoretical Methodology -- Senior's Four Propositions -- Senior on Utility Maximization, Prices, and Gluts -- Senior's Views on Population and Workers' Welfare -- Senior on Capital Accumulation and Abstinence -- Senior on Rent and Class Distribution of Income -- Social Harmony Versus the Political Economy of the Poor -- 7. Political Economy of the Poor: The Ideas of William Thompson and Thomas Hodgskin -- Workers' Resistance to Industrialization -- Thompson's Utilitarianism and Labor Theory of Value -- Thompson's Argument for Egalitarian, Market Socialism -- Thompson's Critique of Market Socialism -- A Critique of Thompson's Utilitarianism -- Thomas Hodgskin's View of the Source of Profit -- Hodgskin's Conception of Capital -- Hodgskin's Utilitarianism -- 8. Pure Versus Eclectic Utilitarianism: The Writings of Bastiat and Mill -- The Spread of Socialist Ideas -- Foundation and Scope of Bastiat's Utilitarian Economics -- Utility and Exchange -- Bastiat's Defense of Private Property, Capital, Profits, and Rent -- Bastiat's View of Exchange, Social Harmony, and the Role of Government -- Mill's Utilitarianism -- Mill's Theory of Value -- Mill on Wages -- Tendency for the Rate of Profit to Fall -- Mill on Socialism -- Mill's Interventionist Reformism -- A Critique of Mill's Reformism -- 9. Karl Marx -- Marx's Critique of Classical Economics -- Commodities, Value, Use Value, and Exchange Value -- Useful Labor and Abstract Labor -- Social Nature of Commodity Production -- Simple Commodity Circulation and Capitalist Circulation -- Surplus Value, Exchange, and the Sphere of Circulation -- Circulation of Capital and the Importance of Production; Labor, Labor Power, and the Definition of Capitalism -- The Value of Labor Power -- Necessary Labor, Surplus Labor, and the Creation and Realization of Surplus Value -- Constant Capital, Variable Capital, and the Rate of Surplus Value -- Length of the Working Day -- The Labor Theory of Value and the Transformation Problem -- Private Property, Capital, and Capitalism -- Primitive Accumulation -- Capitalist Accumulation -- Economic Concentration -- Tendency for the Rate of Profit to Fall -- Sectoral Imbalances and Economic Crises -- Alienation and the Increasing Misery of the Proletariat -- 10. The Triumph of Utilitarianism: The Economics of Jevons, Menger, and Walras -- Jevons's Theory of Marginal Utility and Exchange -- Menger's Theory of Marginal Utility, Prices, and Income Distribution -- Menger's Arguments on Methodology -- Walras's Theory of General Economic Equilibrium -- Stability of General Equilibrium -- Walras's Ideological Defense of Capitalism -- Intellectual Perspective of Neoclassical Marginalism -- Appendix -- 11. Neoclassical Theories of the Firm and Income Distribution: The Writings of Marshall, Clark, and Böhm-Bawerk -- Marshall's Contribution to Utility Theory and Demand Theory -- Symmetry Between Neoclassical Theories of the Household and the Firm -- Marshall's Theory of the Firm -- The Firm's Production and Cost Curves in the Short Period -- Equilibrium in the Short Period -- The Long Period and the Problem of Competition -- Marshall's Ideological Defense of Capitalism -- Clark and the Marginal Productivity Theory of Distribution -- Economics as Exchange and the Role of the Entrepreneur -- Clark's Defense of Private Property -- Clark's Conception of Capital -- Böhm-Bawerk's Measure of Capital -- Capitalist Class Relations in Neoclassical Distribution Theory -- 12. Thorstein Veblen -- Veblen's General Evolutionary Social Philosophy; Veblen's Critique of Neoclassical Economics -- The Antagonistic Dichotomy of Capitalism -- Private Property, Class-Divided Society, and the Subjugation of Women -- Class Structure of Capitalism and the Domination of Business over Industry -- Government and the Class Struggle -- Capitalist Imperialism -- Social Mores of Pecuniary Culture -- Assessment of Veblen's Ideas -- 13. Theories of Imperialism: The Writings of Hobson, Luxemburg, and Lenin -- Hobson's Theory of Capitalist Imperialism -- Luxemburg's Theory of Capitalist Imperialism -- Lenin's Theory of Capitalist Imperialism -- Comparison of the Theories of Hobson, Luxemburg, and Lenin -- 14. Consummation, Consecration, and Destruction of the Invisible Hand: Neoclassical Welfare Economics -- Utility Maximization and Profit Maximization -- The Beatific Vision and Eternal Felicity -- Microeconomic Theory, Neoclassical Economics, and Welfare Economics -- Hedonistic Foundations of Welfare Economics -- Essential Nature of the Norm of Pareto Optimality -- Social Values Underlying Welfare Economics -- Empirical and Analytical Assumptions of Welfare Economics -- Neoclassical Welfare Economics as a Guide to Policy Making -- Welfare Economics and Externalities -- The Normative Critique of Pareto Analysis -- 15. Neoclassical Ideology and the Myth of the Self-Adjusting Market: The Writings of John Maynard Keynes -- Theoretical Setting of Keynes's Analysis -- Keynes's Defense of the Marginal Productivity Theory of Distribution -- Keynes's Analysis of Capitalist Depressions -- Efficacy of Keynesian Policies -- The Military Economy -- The Debt Economy -- Ideological Foundations of Keynes's Ideas -- Appendix -- 16. Annulment of the Myth of the Measurable Productivity of Capital: The Writings of Piero Sraffa -- Current State of Neoclassical Distribution Theory -- Sraffa's Critique of Neoclassical Theory; Appendix -- 17. Contemporary Economics I: The Bifurcation of Orthodoxy -- The Bolshevik Revolution and Soviet Industrialization -- The Great Depression -- W. Arthur Lewis and the Origins of Development Economics -- Liberal and Conservative Neoclassical Economics -- Paul A. Samuelson Versus Milton Friedman and the Conservative Neoclassicists -- Samuelson's Defense of Utilitarianism -- The Austrian and Chicago Schools -- The Battle Continues -- 18. Contemporary Economics II: Institutionalism and Post-Keynesianism -- The Institutionalist Economics of Clarence E. Ayres -- Post-Keynesian Economics -- Sraffian Price Theory -- 19. Contemporary Economics III: The Revival of Critical Political Economy -- Revival and Development of the Labor Theory of Value -- Changes in the Labor Process Under Capitalism -- Performance of Capitalism at the Aggregate Level -- Continuing the Heterodox Tradition -- Comments on the Social Perspective Underlying the Present Book -- Suggestions for Further Reading -- Index -- About the Authors
N2  - The new edition of this classic work presents the history of though within the context of economic
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ER  -