Explores the life of Paul A. Samuelson, of whom it is said, that he is the ‘last generalist in economics’, from his early days in the USA. Gives great detail from his lecture, particularly for his provision of a rich, unknown source of new problems in economic science.
To assess not how Samuelson's individual models contributed to human knowledge but the very true foundation on which they rest, namely, sound theory, facts, and philosophy.
This article has placed Samuelson as a philosopher seeking the truth, and as a theoretical contributor to the many sub‐disciplines of economics.
Shows that his truths bear the evidence of reality, and that his theoretical contributions are not different in kind from the logical theorists. Demonstrates how easily one could formulate a Samuelsonian impossibility theorem that places his thought on the level of the mathematical research started by Hilbert and concluded by Kurt Godel.
The literature that has assessed his contributions in this regard is fragmented, and myopically sparse, leaving gaps to be filled in by a paper such as this.
Alvin Hansen and John Williams’ Fiscal Policy Seminar at Harvard University is widely regarded as a key mechanism for the spread of Keynesianism in the United States. An…
Alvin Hansen and John Williams’ Fiscal Policy Seminar at Harvard University is widely regarded as a key mechanism for the spread of Keynesianism in the United States. An original and regular participant, Richard A. Musgrave was invited to prepare remarks for the fiftieth anniversary of the seminar in 1988. These were never published, though a copy was filed with Musgrave’s papers at Princeton University. Their reproduction here is important for several reasons. First, it is one of the last reminiscences of the original participants. Second, the remarks make an important contribution to our understanding of the Harvard School of macro-fiscal policy. Third, the remarks provide interesting insights into Musgrave’s views on national economic policymaking as well as the intersection between theory and practice. The reminiscence demonstrates the importance of the seminar in shifting Musgrave’s research focus and moving him to a more pragmatic approach to public finance.
A collection of essays by a social economist seeking to balanceeconomics as a science of means with the values deemed necessary toman′s finding the good life and society…
A collection of essays by a social economist seeking to balance economics as a science of means with the values deemed necessary to man′s finding the good life and society enduring as a civilized instrumentality. Looks for authority to great men of the past and to today′s moral philosopher: man is an ethical animal. The 13 essays are: 1. Evolutionary Economics: The End of It All? which challenges the view that Darwinism destroyed belief in a universe of purpose and design; 2. Schmoller′s Political Economy: Its Psychic, Moral and Legal Foundations, which centres on the belief that time‐honoured ethical values prevail in an economy formed by ties of common sentiment, ideas, customs and laws; 3. Adam Smith by Gustav von Schmoller – Schmoller rejects Smith′s natural law and sees him as simply spreading the message of Calvinism; 4. Pierre‐Joseph Proudhon, Socialist – Karl Marx, Communist: A Comparison; 5. Marxism and the Instauration of Man, which raises the question for Marx: is the flowering of the new man in Communist society the ultimate end to the dialectical movement of history?; 6. Ethical Progress and Economic Growth in Western Civilization; 7. Ethical Principles in American Society: An Appraisal; 8. The Ugent Need for a Consensus on Moral Values, which focuses on the real dangers inherent in there being no consensus on moral values; 9. Human Resources and the Good Society – man is not to be treated as an economic resource; man′s moral and material wellbeing is the goal; 10. The Social Economist on the Modern Dilemma: Ethical Dwarfs and Nuclear Giants, which argues that it is imperative to distinguish good from evil and to act accordingly: existentialism, situation ethics and evolutionary ethics savour of nihilism; 11. Ethical Principles: The Economist′s Quandary, which is the difficulty of balancing the claims of disinterested science and of the urge to better the human condition; 12. The Role of Government in the Advancement of Cultural Values, which discusses censorship and the funding of art against the background of the US Helms Amendment; 13. Man at the Crossroads draws earlier themes together; the author makes the case for rejecting determinism and the “operant conditioning” of the Skinner school in favour of the moral progress of autonomous man through adherence to traditional ethical values.
Resurgent interest in the life and work of the Italian Cambridge economist Piero Sraffa is leading to New Directions in Sraffa Scholarship. This chapter introduces readers to some of these developments. First and perhaps foremost is the fact that as of September 2016 Sraffa’s archival material has been uploaded onto the website of the Wren Library, Trinity College, Cambridge University, as digital colour images; this chapter introduces readers to the history of these events. This history provides sharp relief on the extant debates over the role of the archival material in leading to the final publication of Production of Commodities by Means of Commodities, and readers are provided a brief sketch of these matters. The varied nature of Sraffa scholarship is demonstrated by the different aspects of Sraffa’s intellectual legacy which are developed and discussed in the various entries of our Symposium. The conclusion is reached that we are on the cusp of an exciting phase change of tremendous potential in Sraffa scholarship.
Discussion of scientific progress in science philosophy textssuggests that aggressiveness and selfishness on the part of scientistsis associated with high productivity. It…
Discussion of scientific progress in science philosophy texts suggests that aggressiveness and selfishness on the part of scientists is associated with high productivity. It is argued that the behaviour that appears to be the most improper actually facilitates the manifest goals of science. This article shows that the making of the 1930s generation of a sample of eminent economists was shaped by a high sense of co‐operation; continuing collaborative contact in the form of dual authorships of books and articles, joint teaching assignments, and review and support of each other′s writings, but very little of the intensive, relentless competition one finds among natural scientists. The difference stems not so much from the fact that economics is a soft science, but rather from the degree of maturity of the discipline. The 1930s generation of economists was fortunate to enter the field at a time when it was ready for its take off.
This chapter explores a number of relatively unknown aspects of the controversy over Milton Friedman’s March 1975 visit to Chile through the analytical framework provided…
This chapter explores a number of relatively unknown aspects of the controversy over Milton Friedman’s March 1975 visit to Chile through the analytical framework provided by James M. Buchanan’s late 1950s assessment of the economist-physician analogy. The chapter draws upon a range of archival and neglected primary sources to show that the topics which generally rear their head in any contemporary discussion of Friedman’s visit to Chile – for example, whether it is appropriate to provide policy advice to a dictator – were aired in a largely private mid-1970s exchange between Friedman and a number of professional associates. In particular, the controversy over Friedman and Chile began several months before Friedman arrived in Santiago.