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. . . a very valuable introduction to Aristotle s economics. History of Economic Ideas Spencer Pack is completely at home with the difficult works of Aristotle, Adam Smith and Karl Marx. To walk with him through their writings is to discover that they are surprisingly helpful in understanding the modern world of computers, credit crunches, religious differences, international conflicts, and unemployment due to oversaving in China and undersaving in America. One is left after reading them with growing admiration for the giants of past intellectual history. This is only one lesson that Pack teaches in this illuminating book. Mark Blaug, University of London and University of Buckingham, UK This is an unusually ambitious and unpretentious work. And it is successful. Pack effectively compares the ideas of each of the three great men without forcing those of one upon the others. The topics are exchange value, money, capital, character, government, and change, which the author considers to be the fundamental issues in 21st century political economy. Pack is especially successful in utilizing a wide spectrum of secondary (including contemporary) sources to enrich the analysis of the expected primary sources. Student readers will be exposed to the opportunities and problems of variation in interpretation. The author has studiously avoided insinuating and privileging his own views and naively repeating well-worn and misleading, if not also erroneous, ideology-laden positions. Warren J. Samuels, Michigan State University, US Spencer Pack has written a most illuminating and insightful book. Beginning from Aristotelian foundations, Pack focuses our attention on an essential economic and moral issue: the difference between value in use and value in exchange. From this vantage point, he evaluates the arguments of Smith and Marx, demonstrating how their theories, both drawing on Aristotle, unfold into a general analysis of capitalism. His account forces us to think deeply about the nature of capitalist society. I recommend it highly. John F. Henry, University of Missouri-Kansas City, US Spencer Pack compares and contrasts Aristotle s, Smith s and Marx s theoretical systems on six fundamental issues: exchange value, money, capital, character, government, and change. This book also provides insights on issues concerning the continuing development of world money, saving, managerial capitalism, corrupt governments, and various secular and religious movements for social change.
Is economic liberty necessary for individuals to lead truly flourishing lives? Whether your immediate answer is yes or no, this question is deceptively simple. What do we mean by liberty? What constitutes the flourishing life? How are these related? How is economic liberty related to other goods that affect human flourishing? To answer these questions—and more—this volume brings to bear some of history’s greatest thinkers, interpreted by some of today’s leading scholars of their thought.
This book concentrates upon the historic associations of the marketplace in the work of Aristotle, Adam Smith, Karl Marx, and demonstrates how what markets were imagined to entail for society was critical to each author's understanding of the central social problems of their time.
'This is an important and timely work that addresses the moral crisis of contemporary economics. Alvey not only provides an excellent narrative of classical Greek economics, but his arguments are aimed at restoring the central role that ethics played in the long tradition of economic thought. This is an invaluable scholarly resource for academics and students of political economy as well as the history of political thought.' Benjamin Wong, Nanyang Technological University, Singapore Arising from a disenchantment with mainstream economics a dissatisfaction that is widespread today A Short History of Economics and Ethics sketches the emergence and decline of the ethical tradition of economics and the crisis of modern economics. In doing so, James Alvey focuses on four of the leading ancient Greek thinkers: Socrates, Xenophon, Plato and Aristotle. The author uses insights from Amartya Sen's Capabilities approach as well as other sources to retrieve the ethical tradition of economics. Five aspects of this tradition which seem to lie outside of mainstream economics are identified: an ethical methodology; some notion of a just price; an understanding that ethical motivations are relevant to human action; a rich understanding of human well-being; and some notion of distributive justice related to human well-being. Creating a forum for further debate and research opportunity, this book will appeal to students, scholars and historians of economic thought, as well as to all those interested in the intersection of ethics with economics.
This book addresses the unresolved problem posed by the late economists Joan Robinson and Ian Steedman who criticized Marx's labor theory of value from a Sraffian perspective. Spencer J. Pack makes a major contribution toward resolving the problem by convincingly asserting that it is possible to build upon Marx's work and to produce a Marxian-type analysis without using the labor theory of value.
This book develops a philosophical analysis of economic reality and economic science from an Aristotelian point of view. It is the result of many years of thinking and philosophical study about these topics. It differs from other philosophy of economics books as it also deals with economic reality (not only the science) and approaches its subject from an Aristotelian perspective. It differs from other Aristotelian studies about economics as it covers the whole of philosophy of the economy. This book argues why Aristotle’s thinking guarantees an appropriate interdisciplinary synthesis.
The essential guide to the life, thought, and legacy of Adam Smith Adam Smith (1723–90) is perhaps best known as one of the first champions of the free market and is widely regarded as the founding father of capitalism. From his ideas about the promise and pitfalls of globalization to his steadfast belief in the preservation of human dignity, his work is as relevant today as it was in the eighteenth century. Here, Ryan Hanley brings together some of the world's finest scholars from across a variety of disciplines to offer new perspectives on Smith's life, thought, and enduring legacy. Contributors provide succinct and accessible discussions of Smith's landmark works and the historical context in which he wrote them, the core concepts of Smith's social vision, and the lasting impact of Smith's ideas in both academia and the broader world. They reveal other sides of Smith beyond the familiar portrayal of him as the author of the invisible hand, emphasizing his deep interests in such fields as rhetoric, ethics, and jurisprudence. Smith emerges not just as a champion of free markets but also as a thinker whose unique perspective encompasses broader commitments to virtue, justice, equality, and freedom. An essential introduction to Adam Smith's life and work, this incisive and thought-provoking book features contributions from leading figures such as Nicholas Phillipson, Amartya Sen, and John C. Bogle. It demonstrates how Smith's timeless insights speak to contemporary concerns such as growth in the developing world and the future of free trade, and how his influence extends to fields ranging from literature and philosophy to religion and law.
Presents an analysis of what justice is, the transcendental theory of justice and its drawbacks, and a persuasive argument for a comparative perspective on justice that can guide us in the choice between alternatives.
This landmark handbook collects in a single volume the current state of cutting-edge research on the capability approach. It includes a comprehensive introduction to the approach as well as new research from leading scholars in this increasingly influential multi-disciplinary field, including the pioneers of capability research, Martha C. Nussbaum and Amartya Sen. Incorporating both approachable introductory chapters and more in-depth analysis relating to the central philosophical, conceptual and theoretical issues of capability research, this handbook also includes analytical and measurement tools, as well as policy approaches which have emerged in the recent literature. The handbook will be an invaluable resource for students approaching the capability approach for the first time as well as for researchers engaged in advanced research in a wide range of disciplines, including development studies, economics, gender studies, political science and political philosophy.
From the ancients to the moderns, questions of economic theory and policy have been an important part of intellectual and public debate, engaging the attention of some of history’s greatest minds. This book brings together readings from more than two thousand years of writings on economic subjects. Through these selections, the reader can see first-hand how the great minds of past grappled with some of the central social and economic issues of their times and, in the process, enhanced our understanding of how economic systems function. This collection of readings covers the major themes that have preoccupied economic thinkers throughout the ages, including price determination and the underpinnings of the market system, monetary theory and policy, international trade and finance, income distribution, and the appropriate role for government within the economic system. These ideas unfold, develop, and change course over time at the hands of scholars such as Aristotle, St. Thomas Aquinas, John Locke, François Quesnay, David Hume, Adam Smith, Thomas Robert Malthus, David Ricardo, John Stuart Mill, Karl Marx, William Stanley Jevons, Alfred Marshall, Irving Fisher, Thorstein Veblen, John Maynard Keynes, Milton Friedman, and Paul Samuelson. Each reading has been selected with a view to both enlightening the reader as to the major contributions of the author in question and to giving the reader a broad view of the development of economic thought and analysis over time. This book will be useful for students, scholars, and lay people with an interest in the history of economic thought and the history of ideas generally.