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This volume demonstrates the variety and creativity of American economics and the links between American economic thought and its non- European context. It contains selected papers from the 1996 History of Economics Society Conference.
"Bibliographic notes" at end of each volume. v. 1-2. 1606-1865.--v. 3. 1865-1918.--v. 4-5. 1918-1933.
In this discipline-defining volume, some of the leading international scholars in the history of economic thought re-examine the concepts of 'classical economics' and the 'canon', illuminating the roots and evolution of the contemporary discipline.
Since the latter half of the 20th century, the economics departments of American universities were internationally renowned for providing competitive and advanced levels of education. However, from the 1870s up until the beginning of WWI, German universities held international supremacy when it came to the quality of teaching, the enrollment of foreign students, and scholarly publications. This book examines the role of the German Historical School of Economics (GHSE) in the development of the discipline of economics in the US during this period. The chapters explain that, prior to the influence of the GHSE, political economy was in a dismal state in the US, both as a profession and an academic discipline. As a result, many Americans elected to go to Germany in pursuit of an advanced education in political economy, having been inspired by the unmatched international reputations of theorists of the GHSE. After they returned home, these German-trained Americans challenged the dominant status of classical orthodoxy and revolutionized the discipline of economics in the US by importing the ideas, methods, and approaches of the GHSE. In doing so, they established the first dedicated political economy departments, graduate programs, and chairs at American universities and colleges. Although the precise magnitude and value of the influence of the GHSE is impossible to quantify, there is no doubt that Americans are deeply indebted to this school of thought for its contributions to the early development of the discipline of economics in the US. The chapters also examine what has been lost since: the current mainstream in economics has eliminated many of the features that were once so important to the discipline that it has effectively limited contemporary economics to a small fraction of the complex organism defined by the German Historical School. This situation has facilitated the poverty of the leading economic school of thought, as well as the discipline of economics in general. This book represents a significant contribution to the literature on the history of economic thought and economic education in the US. It will be of particular interest to students and scholars of economics, political science, sociology, and the philosophy of economics.
The 1920s and 30s were key decades for the history of American social science. The success of such quantitative disciplines as economics and psychology during World War I forced social scientists to reexamine their methods and practices and to consider recasting their field as a more objective science separated from its historical foundation in social reform. The debate that ensued, fiercely conducted in books, articles, correspondence, and even presidential addresses, made its way into every aspect of social science thought of the period and is the subject of this book. Mark C. Smith first provides a historical overview of the controversy over the nature and future of the social sciences in early twentieth-century America and, then through a series of intellectual biographies, offers an intensive study of the work and lives of major figures who participated in this debate. Using an extensive range of materials, from published sources to manuscript collections, Smith examines "objectivists"--economist Wesley Mitchell and political scientist Charles Merriam--and the more "purposive thinkers"--historian Charles Beard, sociologist Robert Lynd, and political scientist and neo-Freudian Harold Lasswell. He shows how the debate over objectivity and social purpose was central to their professional and personal lives as well as to an understanding of American social science between the two world wars. These biographies bring to vivid life a contentious moment in American intellectual history and reveal its significance in the shaping of social science in this country.
The history of unemployment and concepts surrounding it remain a mystery to many Americans. Frank Stricker believes we need to understand this essential thread in our shared past. American Unemployment is an introduction for everyone that takes aim at misinformation, willful deceptions, and popular myths to set the record straight: Workers do not normally choose to be unemployed. In our current system, persistent unemployment is not an aberration. It is much more common than full employment, and the outcome of elite policy choices. Labor surpluses propped up by flawed unemployment numbers have helped to keep real wages stagnant for more than forty years. Prior to the New Deal and the era of big government, laissez-faire policies repeatedly led to depressions with heavy, even catastrophic, job losses. Undercounting the unemployed sabotages the creation of government job programs that can lead to more high-paying jobs and full employment. Written for non-economists, American Unemployment is a history and primer on vital economic topics that also provides a roadmap to better jobs and economic security.
Rothbard's posthumous masterpiece is the definitive book on the Progressives. It will soon be the must read study of this dreadful time in our past. — From the Foreword by Judge Andrew P. Napolitano The current relationship between the modern state and the economy has its roots in the Progressive Era. — From the Introduction by Patrick Newman Progressivism brought the triumph of institutionalized racism, the disfranchising of blacks in the South, the cutting off of immigration, the building up of trade unions by the federal government into a tripartite big government, big business, big unions alliance, the glorifying of military virtues and conscription, and a drive for American expansion abroad. In short, the Progressive Era ushered the modern American politico-economic system into being. — From the Preface by Murray N. Rothbard
This is the third and final volume of collected papers of A.W. Bob Coats. Coats began to collect material for this volume in the years following the publication of the second volume in 1993, but sadly died in 2007, before the work was completed. The volume has now been completed under the editorship of Roger Backhouse and Bruce Caldwell. Along with his articles, the compilation of the volume also reflects Coats’ interest in and commitment to book reviews, a selection of which have been chosen for inclusion. The book also includes a comprehensive bibliography. In addition to a preface by Backhouse and Caldwell, the volume also reproduces the obituary that was published in History of Political Economy, a memoir published in 1996, and an interview with Grant Fleming, published the previous year. Together, the introductory materials, articles and reviews serve as a fitting tribute to the body of work of Bob Coats.