Donald Markwell
- Published in print:
- 2006
- Published Online:
- January 2007
- ISBN:
- 9780198292364
- eISBN:
- 9780191715525
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198292364.001.0001
- Subject:
- Political Science, International Relations and Politics
Sixty years after his death, the life and thought of the economist, John Maynard Keynes, continues to be a subject of the greatest interest to scholars. Yet one of the most significant areas of ...
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Sixty years after his death, the life and thought of the economist, John Maynard Keynes, continues to be a subject of the greatest interest to scholars. Yet one of the most significant areas of Keynes's thinking has been strangely overlooked — international relations, a subject that was always of central importance to him. This book explores comprehensively, for the first time, the evolution of Keynes's thinking on international relations. It shows how this is linked to the changing of his opinions on economic matters, in a way which deepens the understanding of both. Drawing upon a wide range of significant source material in American and British archives, the book shows entirely new aspects of Keynes.Less
Sixty years after his death, the life and thought of the economist, John Maynard Keynes, continues to be a subject of the greatest interest to scholars. Yet one of the most significant areas of Keynes's thinking has been strangely overlooked — international relations, a subject that was always of central importance to him. This book explores comprehensively, for the first time, the evolution of Keynes's thinking on international relations. It shows how this is linked to the changing of his opinions on economic matters, in a way which deepens the understanding of both. Drawing upon a wide range of significant source material in American and British archives, the book shows entirely new aspects of Keynes.
Paolo Mauro, Nathan Sussman, and Yishay Yafeh
- Published in print:
- 2006
- Published Online:
- May 2006
- ISBN:
- 9780199272693
- eISBN:
- 9780191603488
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0199272697.003.0002
- Subject:
- Economics and Finance, Financial Economics
This chapter describes the pre-World War I London market for sovereign bonds issued by emerging countries, and compares it with the corresponding market today. It shows that the London market was ...
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This chapter describes the pre-World War I London market for sovereign bonds issued by emerging countries, and compares it with the corresponding market today. It shows that the London market was large, active, and liquid, far larger than the corresponding market of today. Moreover, investors were able to rely on timely and comprehensive information regarding borrowing countries. The chapter then discusses the construction of the data sets used in the book, and analyzes the behavior of bond spreads in the historical and modern samples.Less
This chapter describes the pre-World War I London market for sovereign bonds issued by emerging countries, and compares it with the corresponding market today. It shows that the London market was large, active, and liquid, far larger than the corresponding market of today. Moreover, investors were able to rely on timely and comprehensive information regarding borrowing countries. The chapter then discusses the construction of the data sets used in the book, and analyzes the behavior of bond spreads in the historical and modern samples.
Stephen Bazen
- Published in print:
- 2011
- Published Online:
- January 2012
- ISBN:
- 9780199576791
- eISBN:
- 9780191731136
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199576791.001.0001
- Subject:
- Economics and Finance, Econometrics
This book provides a presentation of the standard statistical techniques used by labour economists. It emphasizes both the input and the output of empirical analysis and covers five major topics ...
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This book provides a presentation of the standard statistical techniques used by labour economists. It emphasizes both the input and the output of empirical analysis and covers five major topics concerning econometric methods used in labour economics: regression and related methods, choice modelling, selectivity issues, duration analysis, and policy evaluation techniques. Each of these is presented in terms of model specification, possible estimation problems, diagnostic checking, and interpretation of the output. The book aims to provide guidance to practitioners on how to use the techniques and how to make sense of the results that are produced. It covers methods that are considered to be ‘standard’ tools in labour economics, but which are often given only a brief and highly technical treatment in econometrics textbooks.Less
This book provides a presentation of the standard statistical techniques used by labour economists. It emphasizes both the input and the output of empirical analysis and covers five major topics concerning econometric methods used in labour economics: regression and related methods, choice modelling, selectivity issues, duration analysis, and policy evaluation techniques. Each of these is presented in terms of model specification, possible estimation problems, diagnostic checking, and interpretation of the output. The book aims to provide guidance to practitioners on how to use the techniques and how to make sense of the results that are produced. It covers methods that are considered to be ‘standard’ tools in labour economics, but which are often given only a brief and highly technical treatment in econometrics textbooks.
Brigitte Granville
- Published in print:
- 2013
- Published Online:
- October 2017
- ISBN:
- 9780691145402
- eISBN:
- 9781400846443
- Item type:
- chapter
- Publisher:
- Princeton University Press
- DOI:
- 10.23943/princeton/9780691145402.003.0001
- Subject:
- Business and Management, Finance, Accounting, and Banking
This chapter describes the learning trajectory that led economists and policymakers to regard controlling inflation as a priority and to pursue this goal of greater price stability more effectively. ...
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This chapter describes the learning trajectory that led economists and policymakers to regard controlling inflation as a priority and to pursue this goal of greater price stability more effectively. It focuses on one particular episode in the history of macroeconomic controversy—namely, how a set of economic ideas shifted the general conduct of monetary policy that had prevailed since John Hicks's interpretation (1937) of John Maynard Keynes' The General Theory of Employment, Interest and Money (1936). This “new” thinking about inflation and monetary policy reacted against the contemporary orthodoxy because the prevailing theory had proved to be unsatisfactory in analyzing the changing nature of the economy.Less
This chapter describes the learning trajectory that led economists and policymakers to regard controlling inflation as a priority and to pursue this goal of greater price stability more effectively. It focuses on one particular episode in the history of macroeconomic controversy—namely, how a set of economic ideas shifted the general conduct of monetary policy that had prevailed since John Hicks's interpretation (1937) of John Maynard Keynes' The General Theory of Employment, Interest and Money (1936). This “new” thinking about inflation and monetary policy reacted against the contemporary orthodoxy because the prevailing theory had proved to be unsatisfactory in analyzing the changing nature of the economy.
Pedro N. Teixeira
- Published in print:
- 2007
- Published Online:
- May 2007
- ISBN:
- 9780199211319
- eISBN:
- 9780191705748
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199211319.001.0001
- Subject:
- Economics and Finance, History of Economic Thought
This book presents the work of one of the most important economists of the second half of the 20th century, Jacob Mincer. Mincer played a central role in shaping contemporary labor economics, namely ...
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This book presents the work of one of the most important economists of the second half of the 20th century, Jacob Mincer. Mincer played a central role in shaping contemporary labor economics, namely through his pioneering work in human capital and labor supply analysis. The book presents a systematic analysis of all his extensive published work, emphasizing its continuity as a lifetime research program that had a lasting influence in modern labor economics. The analysis also highlights his main theoretical and methodological traits that make his research so unique.Less
This book presents the work of one of the most important economists of the second half of the 20th century, Jacob Mincer. Mincer played a central role in shaping contemporary labor economics, namely through his pioneering work in human capital and labor supply analysis. The book presents a systematic analysis of all his extensive published work, emphasizing its continuity as a lifetime research program that had a lasting influence in modern labor economics. The analysis also highlights his main theoretical and methodological traits that make his research so unique.
E. H. H. GREEN
- Published in print:
- 2002
- Published Online:
- January 2010
- ISBN:
- 9780198205937
- eISBN:
- 9780191717116
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198205937.003.0003
- Subject:
- History, Political History
This chapter explores the influence of English idealist thought on Conservatism in the period c.1880-1914, and suggests that the ideas of T. H. Green and his fellow Oxford idealists may have had as ...
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This chapter explores the influence of English idealist thought on Conservatism in the period c.1880-1914, and suggests that the ideas of T. H. Green and his fellow Oxford idealists may have had as important a resonance for Conservatives as they did for Liberals. Furthermore, by examining the Conservative collectivist ideas of an effectively unknown thinker, Arthur Boutwood, alongside those of better-known Conservative thinkers such as the historical economists W. J. Ashley, W. Cunningham, and W. A. S. Hewins, and the Compatriots Club, the chapter presents the first of the book's attempts to stress the importance of the ‘middlebrow’ in Conservative thought.Less
This chapter explores the influence of English idealist thought on Conservatism in the period c.1880-1914, and suggests that the ideas of T. H. Green and his fellow Oxford idealists may have had as important a resonance for Conservatives as they did for Liberals. Furthermore, by examining the Conservative collectivist ideas of an effectively unknown thinker, Arthur Boutwood, alongside those of better-known Conservative thinkers such as the historical economists W. J. Ashley, W. Cunningham, and W. A. S. Hewins, and the Compatriots Club, the chapter presents the first of the book's attempts to stress the importance of the ‘middlebrow’ in Conservative thought.
George F. DeMartino
- Published in print:
- 2011
- Published Online:
- September 2011
- ISBN:
- 9780199730568
- eISBN:
- 9780199896776
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199730568.001.0001
- Subject:
- Economics and Finance, Public and Welfare
Economists alter the course of economic affairs and thereby affect the life chances of current and future generations. They do this through their scholarship and teaching, and through their ...
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Economists alter the course of economic affairs and thereby affect the life chances of current and future generations. They do this through their scholarship and teaching, and through their leadership of and staff-level positions in important government and multilateral agencies, consulting firms, investment banks and other economic institutions. And yet, the economics profession consistently has refused to explore the ethical aspects of its work. There is no field of professional economic ethics. As a consequence, economists are largely unprepared for the ethical challenges they face in their work. This book challenges the economic orthodoxy on the matter of professional ethics. It builds the case for professional economic ethics step by step—first by rebutting the economist’s arguments against and then by presenting an escalating positive case for professional economic ethics. The book surveys what economists do and demonstrates that this work is ethically fraught. It explores the principles, questions and debates that inform professional ethics in other fields, and identifies the lessons that economics can take from the best established bodies of professional ethics. The book demonstrates that in the absence of professional ethics, well-meaning economists have committed basic, preventable ethical errors that have caused severe harm for societies across the globe. The book investigates the reforms in economic education that would be necessary were the profession to recognize its professional ethical obligations; and it concludes with the Economist’s Oath that draws on the book’s central insights and highlights the virtues that are required of the “ethical economist.”Less
Economists alter the course of economic affairs and thereby affect the life chances of current and future generations. They do this through their scholarship and teaching, and through their leadership of and staff-level positions in important government and multilateral agencies, consulting firms, investment banks and other economic institutions. And yet, the economics profession consistently has refused to explore the ethical aspects of its work. There is no field of professional economic ethics. As a consequence, economists are largely unprepared for the ethical challenges they face in their work. This book challenges the economic orthodoxy on the matter of professional ethics. It builds the case for professional economic ethics step by step—first by rebutting the economist’s arguments against and then by presenting an escalating positive case for professional economic ethics. The book surveys what economists do and demonstrates that this work is ethically fraught. It explores the principles, questions and debates that inform professional ethics in other fields, and identifies the lessons that economics can take from the best established bodies of professional ethics. The book demonstrates that in the absence of professional ethics, well-meaning economists have committed basic, preventable ethical errors that have caused severe harm for societies across the globe. The book investigates the reforms in economic education that would be necessary were the profession to recognize its professional ethical obligations; and it concludes with the Economist’s Oath that draws on the book’s central insights and highlights the virtues that are required of the “ethical economist.”
ERIK GRIMMER-SOLEM
- Published in print:
- 2003
- Published Online:
- January 2010
- ISBN:
- 9780199260416
- eISBN:
- 9780191717369
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199260416.003.0006
- Subject:
- History, Social History, Economic History
This chapter evaluates the involvement of Schmoller and his colleagues in the rise of an organized social reform movement. It analyzes the dynamics that gave rise to Verein für Sozialpolitk, the ...
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This chapter evaluates the involvement of Schmoller and his colleagues in the rise of an organized social reform movement. It analyzes the dynamics that gave rise to Verein für Sozialpolitk, the place of historical economists in this organization, what disputes and controversies this sparked, and how Schmoller and his colleagues responded to these challenges.Less
This chapter evaluates the involvement of Schmoller and his colleagues in the rise of an organized social reform movement. It analyzes the dynamics that gave rise to Verein für Sozialpolitk, the place of historical economists in this organization, what disputes and controversies this sparked, and how Schmoller and his colleagues responded to these challenges.
ERIK GRIMMER-SOLEM
- Published in print:
- 2003
- Published Online:
- January 2010
- ISBN:
- 9780199260416
- eISBN:
- 9780191717369
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199260416.003.0007
- Subject:
- History, Social History, Economic History
This chapter addresses the historical economists' reaction to and impact upon the social and economic policy by evaluating their role in the social insurance legislation of the 1880s, as well as in ...
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This chapter addresses the historical economists' reaction to and impact upon the social and economic policy by evaluating their role in the social insurance legislation of the 1880s, as well as in agricultural and industrial policy up to the mid-1890s.Less
This chapter addresses the historical economists' reaction to and impact upon the social and economic policy by evaluating their role in the social insurance legislation of the 1880s, as well as in agricultural and industrial policy up to the mid-1890s.
ERIK GRIMMER-SOLEM
- Published in print:
- 2003
- Published Online:
- January 2010
- ISBN:
- 9780199260416
- eISBN:
- 9780191717369
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199260416.003.0008
- Subject:
- History, Social History, Economic History
This chapter investigates how the historical economists' commitment to social reform led to the famous Metodenstreit (dispute over methods) between Schmoller and the Austrian economist Carl Menger. ...
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This chapter investigates how the historical economists' commitment to social reform led to the famous Metodenstreit (dispute over methods) between Schmoller and the Austrian economist Carl Menger. It traces and evaluates their relationship from the early 1870s, placing this dispute within the context of academic professionalization and the rise of social reform in Austria between 1870 and 1894.Less
This chapter investigates how the historical economists' commitment to social reform led to the famous Metodenstreit (dispute over methods) between Schmoller and the Austrian economist Carl Menger. It traces and evaluates their relationship from the early 1870s, placing this dispute within the context of academic professionalization and the rise of social reform in Austria between 1870 and 1894.
E. H. H. GREEN
- Published in print:
- 2002
- Published Online:
- January 2010
- ISBN:
- 9780198205937
- eISBN:
- 9780191717116
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198205937.003.0002
- Subject:
- History, Political History
This chapter examines the political economy of the Edwardian Conservative leader Arthur Balfour, and seeks to open new vistas on the complexities and nuances of the tariff reform versus free trade ...
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This chapter examines the political economy of the Edwardian Conservative leader Arthur Balfour, and seeks to open new vistas on the complexities and nuances of the tariff reform versus free trade debate that dominated Conservative politics in the first decade of the century. It is argued that Balfour developed his own conception of tariff reform, based on his acceptance of the ideas of historical economists and his earlier espousal of bimetallism. He favoured the use of retaliation rather than the full-blown protectionism and imperial preference championed by Joseph Chamberlain that came to dominate Conservative thinking. Balfour's lack of belief in this version of tariff reform resulted in a seeming want of conviction in the debate, which led to persistent criticism of his leadership and his eventual resignation in 1911.Less
This chapter examines the political economy of the Edwardian Conservative leader Arthur Balfour, and seeks to open new vistas on the complexities and nuances of the tariff reform versus free trade debate that dominated Conservative politics in the first decade of the century. It is argued that Balfour developed his own conception of tariff reform, based on his acceptance of the ideas of historical economists and his earlier espousal of bimetallism. He favoured the use of retaliation rather than the full-blown protectionism and imperial preference championed by Joseph Chamberlain that came to dominate Conservative thinking. Balfour's lack of belief in this version of tariff reform resulted in a seeming want of conviction in the debate, which led to persistent criticism of his leadership and his eventual resignation in 1911.
Regina Grafe
- Published in print:
- 2012
- Published Online:
- October 2017
- ISBN:
- 9780691144849
- eISBN:
- 9781400840533
- Item type:
- chapter
- Publisher:
- Princeton University Press
- DOI:
- 10.23943/princeton/9780691144849.003.0002
- Subject:
- Economics and Finance, Economic History
This chapter talks about how historians and economists have distinct working definitions of market integration. On the one hand, historians of the early modern period tend to think about market ...
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This chapter talks about how historians and economists have distinct working definitions of market integration. On the one hand, historians of the early modern period tend to think about market integration as a process in which agriculture and manufacturing directed largely at guaranteeing subsistence were increasingly replaced by specialized production that had to be sold on the market in return for other goods. Hence, market integration was intimately linked to changes not only in the commercialization of agricultural and manufacturing goods but also in their production and consumption patterns. On the other hand, economists tend to define market integration more narrowly through the “law of one price”: if markets are fully integrated between two locations then the price of tradable goods should be identical in both places.Less
This chapter talks about how historians and economists have distinct working definitions of market integration. On the one hand, historians of the early modern period tend to think about market integration as a process in which agriculture and manufacturing directed largely at guaranteeing subsistence were increasingly replaced by specialized production that had to be sold on the market in return for other goods. Hence, market integration was intimately linked to changes not only in the commercialization of agricultural and manufacturing goods but also in their production and consumption patterns. On the other hand, economists tend to define market integration more narrowly through the “law of one price”: if markets are fully integrated between two locations then the price of tradable goods should be identical in both places.
James A. Mirrlees and N. H. Stern
- Published in print:
- 2006
- Published Online:
- October 2011
- ISBN:
- 9780198295211
- eISBN:
- 9780191685095
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198295211.003.0024
- Subject:
- Economics and Finance, Public and Welfare, Development, Growth, and Environmental
This chapter discusses the relative value of different directions for the research of economists. A simple model is shown, as is how much of an increase in welfare might be available if subtle theory ...
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This chapter discusses the relative value of different directions for the research of economists. A simple model is shown, as is how much of an increase in welfare might be available if subtle theory were substituted for crude as the basis for economic policy. Thanks to the simplicity of the model, it is deemed easier for economists to develop their own models.Less
This chapter discusses the relative value of different directions for the research of economists. A simple model is shown, as is how much of an increase in welfare might be available if subtle theory were substituted for crude as the basis for economic policy. Thanks to the simplicity of the model, it is deemed easier for economists to develop their own models.
Robert C. Allen, Tommy Bengtsson, and Martin Dribe
- Published in print:
- 2005
- Published Online:
- July 2005
- ISBN:
- 9780199280681
- eISBN:
- 9780191602467
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/0199280681.003.0001
- Subject:
- Economics and Finance, Economic History
In the introduction, different contributions are brought together in an analysis of pre-industrial living standards in East and West, viewed in the light of the general debate on these issues from ...
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In the introduction, different contributions are brought together in an analysis of pre-industrial living standards in East and West, viewed in the light of the general debate on these issues from the classical economists to present times. The general picture emerging is not one of great divergence, but instead one of considerable similarities. Regional differences within Europe or Asia were often larger than the average differences between them.Less
In the introduction, different contributions are brought together in an analysis of pre-industrial living standards in East and West, viewed in the light of the general debate on these issues from the classical economists to present times. The general picture emerging is not one of great divergence, but instead one of considerable similarities. Regional differences within Europe or Asia were often larger than the average differences between them.
MEGHNAD DESAI
- Published in print:
- 2007
- Published Online:
- January 2012
- ISBN:
- 9780197263938
- eISBN:
- 9780191734236
- Item type:
- chapter
- Publisher:
- British Academy
- DOI:
- 10.5871/bacad/9780197263938.003.0012
- Subject:
- History, Historiography
Michio Morishima was one of the most distinguished economic theorists of his generation. He taught in Japan at Kyoto and Osaka Universities and in the UK at the University of Essex and the London ...
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Michio Morishima was one of the most distinguished economic theorists of his generation. He taught in Japan at Kyoto and Osaka Universities and in the UK at the University of Essex and the London School of Economics, where he spent the last thirty-four years of his very creative life. Morishima was a Visiting Professor at the University of Essex, 1968–9 and the Keynes Visiting Professor there, 1969–70, and Professor of Economics, later the John Hicks Professor of Economics, at the LSE. He was a Senior Visiting Fellow at All Souls College, Oxford, where his friend and mentor Sir John Hicks, FBA was the Drummond Professor of Political Economy. Morishima also held a visiting position at the University of Siena in Italy for nearly thirty years from 1970. He was elected Foreign Honorary Member of the American Academy of Arts and Sciences (1975) and of the American Economic Association (1979).Less
Michio Morishima was one of the most distinguished economic theorists of his generation. He taught in Japan at Kyoto and Osaka Universities and in the UK at the University of Essex and the London School of Economics, where he spent the last thirty-four years of his very creative life. Morishima was a Visiting Professor at the University of Essex, 1968–9 and the Keynes Visiting Professor there, 1969–70, and Professor of Economics, later the John Hicks Professor of Economics, at the LSE. He was a Senior Visiting Fellow at All Souls College, Oxford, where his friend and mentor Sir John Hicks, FBA was the Drummond Professor of Political Economy. Morishima also held a visiting position at the University of Siena in Italy for nearly thirty years from 1970. He was elected Foreign Honorary Member of the American Academy of Arts and Sciences (1975) and of the American Economic Association (1979).
AJIT SINGH
- Published in print:
- 2007
- Published Online:
- January 2012
- ISBN:
- 9780197263938
- eISBN:
- 9780191734236
- Item type:
- chapter
- Publisher:
- British Academy
- DOI:
- 10.5871/bacad/9780197263938.003.0013
- Subject:
- History, Historiography
Professor W. B. Reddaway, invariably known to friends and colleagues as Brian Reddaway, was an exceptional economist who had a huge influence on how economics in Cambridge has been taught and ...
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Professor W. B. Reddaway, invariably known to friends and colleagues as Brian Reddaway, was an exceptional economist who had a huge influence on how economics in Cambridge has been taught and researched. He held leadership positions in the Faculty of Economics and Politics at Cambridge for twenty-five years, between 1955 and 1980. For nearly the first fifteen years, Reddaway was Director of the Department of Applied Economics (DAE). In 1969, almost at the end of his tenure as DAE Director, he was elected to succeed James Meade in the Chair of Political Economy, the senior chair in economics in Cambridge. Reddaway held this chair until 1980, when he formally retired. He continued his association with the Faculty for many years after this, doing occasional lecture courses, or one-off lectures: he positively loved lecturing on applied economic subjects and helping younger colleagues with their research.Less
Professor W. B. Reddaway, invariably known to friends and colleagues as Brian Reddaway, was an exceptional economist who had a huge influence on how economics in Cambridge has been taught and researched. He held leadership positions in the Faculty of Economics and Politics at Cambridge for twenty-five years, between 1955 and 1980. For nearly the first fifteen years, Reddaway was Director of the Department of Applied Economics (DAE). In 1969, almost at the end of his tenure as DAE Director, he was elected to succeed James Meade in the Chair of Political Economy, the senior chair in economics in Cambridge. Reddaway held this chair until 1980, when he formally retired. He continued his association with the Faculty for many years after this, doing occasional lecture courses, or one-off lectures: he positively loved lecturing on applied economic subjects and helping younger colleagues with their research.
D. P. O’brien
- Published in print:
- 2011
- Published Online:
- January 2012
- ISBN:
- 9780197264751
- eISBN:
- 9780191734229
- Item type:
- chapter
- Publisher:
- British Academy
- DOI:
- 10.5871/bacad/9780197264751.003.0003
- Subject:
- History, Historiography
Robert Denis Collison Black was internationally recognized as the authority on Jevons, and in particular on the centrally important elements of Benthamite Utilitarianism in Jevons' thought. Jevons' ...
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Robert Denis Collison Black was internationally recognized as the authority on Jevons, and in particular on the centrally important elements of Benthamite Utilitarianism in Jevons' thought. Jevons' Theory Political Economy was, Black argued, a Benthamite exercise, not a systematic treatise on value and distribution. This in turn explained why Jevons' theory of production was essentially classical, and why he had no theory of aggregate distribution. Black's work on Jevons also threw light on the professionalization of economics. Black was the well-merited recipient of many honours. In 1974 he was elected both a Fellow of the British Academy and a Member of the Royal Irish Academy. He became an Honorary Fellow of Trinity College, Dublin in 1982; President of the Statistical and Social Inquiry Society of Ireland over the years 1983 to 1986; acted as President of Section F of the British Association in 1984–5; was elected a Distinguished Fellow of the History of Economics Society in 1987; and in 1988, Queen's University bestowed upon him an Hon. D.Sc. Econ.Less
Robert Denis Collison Black was internationally recognized as the authority on Jevons, and in particular on the centrally important elements of Benthamite Utilitarianism in Jevons' thought. Jevons' Theory Political Economy was, Black argued, a Benthamite exercise, not a systematic treatise on value and distribution. This in turn explained why Jevons' theory of production was essentially classical, and why he had no theory of aggregate distribution. Black's work on Jevons also threw light on the professionalization of economics. Black was the well-merited recipient of many honours. In 1974 he was elected both a Fellow of the British Academy and a Member of the Royal Irish Academy. He became an Honorary Fellow of Trinity College, Dublin in 1982; President of the Statistical and Social Inquiry Society of Ireland over the years 1983 to 1986; acted as President of Section F of the British Association in 1984–5; was elected a Distinguished Fellow of the History of Economics Society in 1987; and in 1988, Queen's University bestowed upon him an Hon. D.Sc. Econ.
M. FG. Scott
- Published in print:
- 2003
- Published Online:
- January 2012
- ISBN:
- 9780197263020
- eISBN:
- 9780191734199
- Item type:
- chapter
- Publisher:
- British Academy
- DOI:
- 10.5871/bacad/9780197263020.003.0023
- Subject:
- History, Historiography
Tom Wilson's long career as an economist took him from Belfast to the London School of Economics, Whitehall (during the Second World War), Oxford, Glasgow, and finally Bristol; and the subjects which ...
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Tom Wilson's long career as an economist took him from Belfast to the London School of Economics, Whitehall (during the Second World War), Oxford, Glasgow, and finally Bristol; and the subjects which interested him ranged as widely. His method, however, in addressing them followed a pattern. It was eclectic: the different sides of the argument were fairly set out and criticised. Tom could usually find some virtue in each, and took the trouble to inform himself about them. His economic analysis was not mathematical or econometric, and seldom even diagrammatic. As it was often the policy implications of economic problems which interested him, he could not stop at simplified models of reality which left out some of the relevant variety and complexity of experience. His books on macroeconomics, regional policy, planning, the welfare state, and competition policy, drew on these strengths, and they shine forth most clearly in two written towards the end of his life: on Lord Cherwell's advice to Churchill during the war and on the Ulster tragedy.Less
Tom Wilson's long career as an economist took him from Belfast to the London School of Economics, Whitehall (during the Second World War), Oxford, Glasgow, and finally Bristol; and the subjects which interested him ranged as widely. His method, however, in addressing them followed a pattern. It was eclectic: the different sides of the argument were fairly set out and criticised. Tom could usually find some virtue in each, and took the trouble to inform himself about them. His economic analysis was not mathematical or econometric, and seldom even diagrammatic. As it was often the policy implications of economic problems which interested him, he could not stop at simplified models of reality which left out some of the relevant variety and complexity of experience. His books on macroeconomics, regional policy, planning, the welfare state, and competition policy, drew on these strengths, and they shine forth most clearly in two written towards the end of his life: on Lord Cherwell's advice to Churchill during the war and on the Ulster tragedy.
Daniel Stedman Jones
- Published in print:
- 2014
- Published Online:
- October 2017
- ISBN:
- 9780691161013
- eISBN:
- 9781400851836
- Item type:
- chapter
- Publisher:
- Princeton University Press
- DOI:
- 10.23943/princeton/9780691161013.003.0006
- Subject:
- History, American History: 20th Century
This chapter examines how the neoliberal breakthrough came in the seemingly unlikely realm of technical economic policy. The long postwar boom, often dubbed the Golden Age of capitalism, continued ...
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This chapter examines how the neoliberal breakthrough came in the seemingly unlikely realm of technical economic policy. The long postwar boom, often dubbed the Golden Age of capitalism, continued through the 1950s and 1960s, when politicians and publics alike believed they understood how to effectively manage capitalism using the tools of demand management developed by John Maynard Keynes, and especially as expanded by the next generation of Keynesian economists. Moreover, an important set of ideas emerged from the transatlantic neoliberal network during the 1950s and 1960s that would pave the way for a much larger challenge to the dominance of New Deal liberalism and social democracy. This body of thought centered on the restatement of the quantity theory of money by Milton Friedman.Less
This chapter examines how the neoliberal breakthrough came in the seemingly unlikely realm of technical economic policy. The long postwar boom, often dubbed the Golden Age of capitalism, continued through the 1950s and 1960s, when politicians and publics alike believed they understood how to effectively manage capitalism using the tools of demand management developed by John Maynard Keynes, and especially as expanded by the next generation of Keynesian economists. Moreover, an important set of ideas emerged from the transatlantic neoliberal network during the 1950s and 1960s that would pave the way for a much larger challenge to the dominance of New Deal liberalism and social democracy. This body of thought centered on the restatement of the quantity theory of money by Milton Friedman.
Robert Sugden
- Published in print:
- 2008
- Published Online:
- January 2012
- ISBN:
- 9780197264232
- eISBN:
- 9780191734243
- Item type:
- chapter
- Publisher:
- British Academy
- DOI:
- 10.5871/bacad/9780197264232.003.0014
- Subject:
- History, Historiography
Alan Williams was, by common consent, the leading health economist in Britain. Indeed, it is in large part due to him that there is a community of health economics for anyone to lead. Williams was ...
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Alan Williams was, by common consent, the leading health economist in Britain. Indeed, it is in large part due to him that there is a community of health economics for anyone to lead. Williams was renowned for the logical rigour of his thinking, for his passionate commitment to the principle of universal health care supplied according to need, for his determination to ensure that health-service resources are used to the best effect, and for his evangelical sense of mission in advocating the use of the quality-adjusted life year as a measure of health-service effectiveness. He was also famous for the notice on his desk – later moved to his door so that callers would be forewarned of what to expect – with the injunction: ‘Be reasonable do it my way’. That so many people remember this message shows that it was something more than an office joke.Less
Alan Williams was, by common consent, the leading health economist in Britain. Indeed, it is in large part due to him that there is a community of health economics for anyone to lead. Williams was renowned for the logical rigour of his thinking, for his passionate commitment to the principle of universal health care supplied according to need, for his determination to ensure that health-service resources are used to the best effect, and for his evangelical sense of mission in advocating the use of the quality-adjusted life year as a measure of health-service effectiveness. He was also famous for the notice on his desk – later moved to his door so that callers would be forewarned of what to expect – with the injunction: ‘Be reasonable do it my way’. That so many people remember this message shows that it was something more than an office joke.
