This is a history of economic thought from Adam Smith to John Maynard Keynes – but it is a history with a difference. Firstly, it is a history of economic theory, not. This is a history of economic thought from Adam Smith to John Maynard Keynes– but it is a history with a difference. Firstly, it is history of economic theory, not of. value-free nature of economics is either the denial of a proposition in logic. (the distinction between normative and positive) or a denial of the possibility.

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Blaug goes over an incredible amount of economic theory, very expertly summarizing the key thoughts and ideas of most major economists. His prose is not easy to read, but after Account Options Sign in.

Firstly, it is history of economic theory, rtrospect of economic doctrines. Secondly, it includes detailed Reader’s Guides to nine of the major texts of economics in the effort to encourage My library Help Advanced Book Search. Cambridge University Press Amazon.

Economic Theory in Retrospect. This is a history of economic thought from Adam Smith to John Maynard Keynes–but it is a history with a difference.

Economic Theory in Retrospect

Secondly, it includes detailed Reader’s Guides to nine of the major texts of economics in the effort to encourage students to become acquainted at first hand with the writings of all the great economists.

This fifth edition adds new Reader’s Guides to Walras’ Elements of Pure Economics and Keynes’ General Theory of Employment, Interest and Money as well as major additions to the chapters on marginal productivity theory, general equilibrium theory and welfare economics. User Review – Flag as inappropriate please release this book ,I wanted it.

Selected pages Title Page. Division of labour 3 The measure and cause of value.

The great contradiction 4 The transformation problem. Costofproduction theory 5 Supplydetermined prices. Advance economics and synchronisation economics. Wages 7 Profits 8 Relative wages 9 Rent. The rate of growth of the factors of production 8 Socialism. Marginal productivity theory 2 The normative implications 3 Exploitation 4 Is continuous substitution possible? The theory of imputation 6 Linear programming 7 The Hobson objection 8 The highwage economy theory 9 The present status of marginal producti The formal jn of linearly homogeneous production.

The economic meaning of linearly homogeneous production functions. Custom and the laws of distribution. A social unit of accounting 11 The trend of prices. Surplus value and economic surplus. Capital and income 13 Banking. The law of the falling rate of profit 14 A glance at the data. Productive and unproductive labour. An optimum investment pattern 16 Synoptic history.

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Dupuit and the French engineering tradition. The balanceoftrade doctrine 2 The specieflow mechanism.

Mills position on monetary management. Theory of international values. International wage and price levels 22 Humes. The role blau institutional assumptions. Transfer payments 24 The ventforsurplus tehory. The theory of creeping inflation 8 Cantillons essay. The basis of a theory of international trade. Statics and dynamics 27 The falling rate of profit. The stationary state 29 Taxation.

Marxs use of historical material. The incidence of taxes 31 The public debt. The scope of government. Education in classical economics. The classical economists and the Factory Acts. John Stuart Mill exonomic an economist. The turnover of capital 37 The reproduction schema. The greatness of Marshalls contribution. The great contradiction again 39 The transformation problem. The laws of return 40 The law of rent. The law of the falling rate of profit 41 Capitalsaving innovations.

Foreign trade 43 Business cycles 44 Money and econo,ic. The accumulation of capital 44 Cassels theory of social economy. Theory of rent 46 Marx as an economist. Adam Smith as an economist. The population explosion 2 Malthuss analytical schema 3 The empirical content of the theory 4 Automatic checks 5 The optimum theory of populati The economi of diminishing returns 8 Differential rent 9 The alternative cost of land 10 Land as a factor of production 11 Site value taxation.

The theory of wheat profits or the rertospect model. The labour theory of value 3 Capital costs and labour values 4 The Ricardo Effect 5 The invariable measure of value 6 The fundamental theorem of The effect of capital accumulation 8 The trend of relative shares 9 Technical thepry.

The purchasing power parity theory 24 Says Law 25 Pessimism? Sraffa Ricardo in modern dress. The new departure 2 The maximisation principle 3 Value and distribution exonomic The genesis of marginal utility theory 5 A multiple discovery?

The theory of exchange 9 Bilateral and competitive exchange 10 The catena 11 Disutility of labour 12 Negatively or positively sloped labour supply The measurability of utility. Operational measurement of utility. The Bernoulli hypothesis 4 Gambling and insurance 5 The Bernoulli hypothesis and progressive taxation.

Derivation of demand curves. The constancy of the marginal utility of money 8 Restatement 9 The indifferencecurve approach. The revealed preference approach. The short run 2 Quasirents 3 The long run 4 External economies 5 What are external economies?


Introduction 11 Scope substance and method.

Economic Theory in Retrospect – Mark Blaug – Google Books

Wants and activities 13 Marginal utility 14 Consumers demand 15 Consumers surplus 16 The law of diminishing returns 17 The growth of populatio Equilibrium of demand and supply 21 Stability conditions 22 Short run and long.

Joint and jn demand and supply. The meaning of pure profit 19 The entrepreneur as a factor of production. The history of the concept of enterpreneurship. Profit teory a return to uncertainty bearing. Profit as a return to innovations. Profit as a return to arbitrage.

The concept of microproduction functions. Taxonomy 28 The automation bias in retrosepct change. The inducement mechanism 30 The neglect of technical change 31 Marginal productivity once again. Consumer behaviour 33 The content of the maximand 34 Price formation 35 Supply as reverse demand 36 The doctrine of alternative costs.

The productivity of greater roundaboutness. The three reasons for interest 3 The first reason 4 The second reason econmoic The third reason 6 The interaction of the three reasons. Is the average period infinitely long? The demise of the average period of production. Synchronisation of production and consumption.

The average period and the capitaloutput ratio. Willingness and opportunity 20 Rate of return theiry cost 21 Diagrammatic exposition 22 Some uses of the diagram 23 The theory of investment decis The real and the money rate of interest. The real rate in a dynamic economy 26 Real versus monetary theories. Utility and value 33 Welfare economics 34 Imperfect competition 35 Production and distribution 36 Capital 37 The capital structure. The concept of general equilibrium 2 The Walrasian rrtrospect 3 The existence of general equilibrium 4 Stability and determinacy 5 The fall and rise of Preface to the fourth edition 7 Definitions of basic terms 8 Bilateral exchange 9 Multilateral exchange 10 Theory of production 11 Theory of capital The optimum exchange conditions 18 A Pareto optimum retroospect The Scitovsky double criterion 20 Recent welfare economics 21 The marginal conditions.

The optimal characteristics of perfect competition.