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This book is concerned with the application of economic theory to problems of international economic policy. For most of his life the author has been employed as a national or international official in London and Washington, in makers of economic policy.
How do economists tackle the problems of the economic system and give advice on public policy? Nobel laureate R.H. Coase reflects on some of the most fundamental concerns of economists over the past two centuries. In 15 essays, Coase explore the history and philosophy of economics and evaluates the contributions of a number of outstanding figures.
This paper is concerned primarily with certain methodological problems that arise in constructing the "distinct positive science" that John Neville Keynes called for, in particular, the problem how to decide whether a suggested hypothesis or theory should be tentatively accepted as part of the "body of systematized knowledge concerning what is."
Every Economics textbook today teaches that questions of values and morality lie outside of, are in fact excluded from, the field of Economics and its proper domain of study, "the economy." Yet the dominant cultural and media narrative in response to major economic crisis is almost always one of moral outrage. How do we reconcile this tension or explain this paradox by which Economics seems to have both everything and nothing to do with values? The discipline of modern economics hypostatizes and continually reifies a domain it calls "the economy"; only this epistemic practice makes it possible to falsely separate the question of value from the broader inquiry into the economic. And only if we have first eliminated value from the domain of economics can we then transform stories of financial crisis or massive corporate corruption into simple tales of ethics. But if economic forces establish, transform, and maintain relations of value then it proves impossible to separate economics from questions of value, because value relations only come to be in the world by way of economic logics. This means that the "positive economics" spoken of so fondly in the textbooks is nothing more than a contradiction in terms, and as this book demonstrates, there's no such thing as "the economy." To grasp the basic logic of capital is to bring into view the unbreakable link between economics and value.
Consists of original and rev. versions of papers presented at a conference at Airlie House in Virginia, Mar. 1983. Includes bibliographies and index.
Barrington Moore, Jr., one of the most distinguished thinkers in critical theory and historical sociology, was long concerned with the prospects for freedom and decency in industrial society. The product of decades of reflection on issues of authority, inequality, and injustice, this volume analyzes fluctuating moral beliefs and behavior in political and economic affairs at different points in history, from the early Middle Ages in England to the prospects for liberalism under twentieth-century Soviet socialism. The social sources of antisocial behavior; principles of social inequality; and the origins, enemies, and possibilities of rational discussion in public affairs—these are among the topics Moore considers as he seeks to uncover the historical causes of some accepted forms of morality and to assess their social consequences. The keynote essay examines how moral codes grew out of commercial practices in England from medieval times through the industrial revolution. Moore pays special attention to conceptions of honesty and the temptation to evade that inform the volume as a whole. In the other essays, he considers particular political issues, viewing "political" in its broadest sense as an unequal distribution of power and authority that carries a strong moral charge. Free of preaching and advocacy, his work offers a rare reasonable assessment of the morality of major social institutions over time.
2012 Reprint of 1957 Edition. Exact facsimile of the original edition, not reproduced with Optical Recognition Software. Tjalling Charles Koopmans (1910 - 1985) was the joint winner, with Leonid Kantorovich, of the 1975 Nobel Memorial Prize in Economic Sciences. In 1944 Koopmans joined the Cowles Commission for Research in Economics at the University of Chicago, where he extended his technique to a wide variety of economic problems. When the commission was relocated to Yale University in 1955, Koopmans moved with it, becoming professor of economics at Yale. He wrote a widely read book on the methodology of economic analysis, "Three Essays on the State of Economic Science" in 1957. Essays are: Allocation of Resources and the Price System The Construction of Economic Knowledge The Interaction of Tools and Problems in Economics
Reflections on two centuries of economic history from a Nobel Prize winner in the field: “An accessible collection by a renowned economist.”—Library Journal How do economists decide what questions to address and how to choose their theories? How do they tackle the problems of the economic system and give advice on public policy? With these broad questions, Nobel laureate R. H. Coase, widely recognized for his seminal work on transaction costs, reflects on some of the most fundamental concerns of economists over the past two centuries. In fifteen essays, Coase evaluates the contributions of a number of outstanding figures, including Adam Smith, Alfred Marshall, Arnold Plant, Duncan Black, and George Stigler, as well as economists at the London School of Economics in the 1930s. “Are you looking for a book by an economist who can really write and has insight after insight on free markets vs. government regulation? Would you like it even better if you could get some good laughs from his clever way of putting things? Then Ronald H. Coase’s Essays on Economics and Economists is the book for you.”—Reason