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Types of Economic Theory: From Mercantilism to Institutionalism, Vol. 2
Book by Mitchell, Wesley C.
875 pages, Hardcover
First published June 1, 1969
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August 9, 2014
says std. of living rose w/ind. rev. -how defining std. of living? Since mid. ages, says: but subsistence==food and shelter. lower prices !matter iff !enough $ to buy bread...
Smith was right that given a fair/free choice, each person picking own job ->max good for comm. but mkt -> choice constraint based on what mkt will bear/support (i.e. me as IT person ==just plain wrong!!)
Bentham -Tory ->radical (full suffr, annual parliaments, abol. crown/lords/clerics): saw that upper classes only help themselves, not normal people...; wanted to mk calc. for soc. int. (be Newton for soc.sci) -"felicific calculus"
Malthus vs. Ricardo -both though demand might lag, so producers might need to create a consuming class: prophetic; also argued -landlords lazy vs. wage earners -ignorant, but either is bad for Adam Smith (so there is not a diligent and well-informed Scotsman in all of us...)
Chartists more influential than Ricardo w/workers...
capitalists used Malthusian the. to say workers respons. for own poverty; cap. used Ricardo's ideas & honesty
JS Mill -knowledge -> exp. and regarded (a Benthamite)happiness as a goal, but can't aim for it directly..
(see A System of Logic)
saw econ. as possible help for mankind (via wife's promptings...)
p. 577-578 -bus./$ system 'out of order' exerts ind. influence of its own.
breakdown of fuedal sys. <- inc. use of $; business cyeles based on bus. borrowing/need for credit; Mill missed sig. of $ vs. relationships in a $ soci.
Smith was right that given a fair/free choice, each person picking own job ->max good for comm. but mkt -> choice constraint based on what mkt will bear/support (i.e. me as IT person ==just plain wrong!!)
Bentham -Tory ->radical (full suffr, annual parliaments, abol. crown/lords/clerics): saw that upper classes only help themselves, not normal people...; wanted to mk calc. for soc. int. (be Newton for soc.sci) -"felicific calculus"
Malthus vs. Ricardo -both though demand might lag, so producers might need to create a consuming class: prophetic; also argued -landlords lazy vs. wage earners -ignorant, but either is bad for Adam Smith (so there is not a diligent and well-informed Scotsman in all of us...)
Chartists more influential than Ricardo w/workers...
capitalists used Malthusian the. to say workers respons. for own poverty; cap. used Ricardo's ideas & honesty
JS Mill -knowledge -> exp. and regarded (a Benthamite)happiness as a goal, but can't aim for it directly..
(see A System of Logic)
saw econ. as possible help for mankind (via wife's promptings...)
p. 577-578 -bus./$ system 'out of order' exerts ind. influence of its own.
breakdown of fuedal sys. <- inc. use of $; business cyeles based on bus. borrowing/need for credit; Mill missed sig. of $ vs. relationships in a $ soci.
Displaying 1 of 1 review