Companion to the History of Economic Thought

Warren J. Samuels is Professor Emeritus, and former Director of Graduate Programs for the Economics Department at Michigan State University. He is former President of the History of Economics Society and former President of the Association for Social Economics. In 1997 he was made Distinguished Fellow, History of Economics Society. Professor Samuels was Editor of the Journal of Economic Issues and is presently Co-editor of the Journal of Income Distribution. He has been on the Editorial Boards of 16 journals, has written or edited over 40 books, and is widely published in top journals.Jeff E. Biddle is Professor of Economics at Michigan State University. He is widely published in the field of history of economic thought in such journals as The History of Political Economy, Journal of Labor Economics, and American Economic Review. John B. Davis is Professor of Economics at Marquette University, and is former President of the History of Economics Society. Professor Davis specializes in history of economic thought and is renowned for his work on John Maynard Keynes. Recently he was a visiting fellow at Clare Hall, Cambridge, UK where he conducted research on Keynes' unpublished manuscripts. Davis is Editor of the Review of Social Economy and his research has been published in The Economic Journal, Cambridge Journal of Economics, Journal of Post-Keynesian Economics, and The History of Political Economics.

• List of Figures ixList of Tables xList of Contributors xiPreface xv1 Research Styles in the History of Economic Thought 1Jeff E. BiddlePART I HISTORICAL SURVEYS2 Ancient and Medieval Economics 11S. Todd Lowry3 Contributions of Medieval Muslim Scholars to the History of Economics and their Impact: A Refutation of the Schumpeterian Great Gap 28Hamid S. Hosseini4 Mercantilism 46Lars G. Magnusson5 Physiocracy and French Pre-Classical Political Economy 61Philippe Steiner6 Pre-Classical Economics in Britain 78Anthony Brewer7 Adam Smith (1723–1790): Theories of Political Economy 94Andrew S. Skinner8 Classical Economics 112Denis P. O’Brien9 Post-Ricardian British Economics, 1830–1870 130Sandra J. Peart and David M. Levy10 Karl Marx: His Work and the Major Changes in its Interpretation 148Geert Reuten11 The Surplus Interpretation of the Classical Economists 167Heinz D. Kurz12 Non-Marxian Socialism 184J. E. King13 Utopian Economics 201Warren J. Samuels14 Historical Schools of Economics: German and English 215Keith Tribe15 American Economics to 1900 231William J. Barber16 English Marginalism: Jevons, Marshall, and Pigou 246Peter Groenewegen17 The Austrian Marginalists: Menger, Böhm-Bawerk, and Wieser 262Steven Horwitz18 Early General Equilibrium Economics: Walras, Pareto, and Cassel 278Donald A. Walker19 The “First” Imperfect Competition Revolution 294Maria Cristina Marcuzzo20 The Stabilization of Price Theory, 1920–1955 308Roger E. Backhouse21 Interwar Monetary and Business Cycle Theory: Macroeconomics before Keynes 325Robert W. Dimand22 Keynes and the Cambridge School 343G. C. Harcourt and Prue Kerr23 American Institutional Economics in the Interwar Period 360Malcolm Rutherford24 Postwar Neoclassical Microeconomics 377S. Abu Turab Rizvi25 The Formalist Revolution of the 1950s 395Mark Blaug26 A History of Postwar Monetary Economics and Macroeconomics 411Kevin D. Hoover27 The Economic Role of Government in the History of Economic Thought 428Steven G. Medema28 Postwar Heterodox Economics 445A The Austrian School of Economics: 1950–2000 445Peter J. Boettke and Peter T. LeesonB Feminist Economics 454Janet A. SeizC Institutional Economics 462Geoffrey M. HodgsonD Post Keynesian Economics 471Sheila C. DowE Radical Political Economy 479Bruce PietrykowskiPART II HISTORIOGRAPHY29 Historiography 491Matthias Klaes30 The Sociology of Economics and Scientific Knowledge, and the History of Economic Thought 507A. W. Bob Coats31 Exegesis, Hermeneutics, and Interpretation 523Ross B. Emmett32 Textuality and the History of Economics: Intention and Meaning 538Vivienne Brown33 Mathematical Modeling as an Exegetical Tool: Rational Reconstruction 553A. M. C. Waterman34 Economic Methodology since Kuhn 571John B. Davis35 Biography and the History of Economics 588D. E. Moggridge36 Economics and Economists in the Policy Process 606Craufurd D. W. Goodwin37 The International Diffusion of Economic Thought 622José Luís Cardoso38 The History of Ideas and Economics 634Mark Perlman39 Research in the History of Economic Thought as a Vehicle for the Defense and Criticism of Orthodox Economics 655John LodewijksName Index 669Subject Index 688

“With the range, depth, and clarity of the contributions, this exceptional volume provides the reader with the best modern historical thinking on the development of economics from antiquity to the present. It should be on every economist’s bookshelf.” E. Roy Weintraub, Duke University“This collection covers an extraordinary range of key topics in the history of economic thought and historiography. While space is at a high premium in such collective endeavors, the editors have allowed contributors ample scope to make meaningful surveys. The collection as a whole provides a splendid teaching and research resource.” Samuel Hollander, Ben–Gurion University "What a wonderful companion; I will keep it on my shelf and refer to it often. It's an excellent set of brief summaries of the current state of the art in the history of thought, from ancient times until today." David Colander, Middlebury College