With debates surrounding the decriminalisation of certain illegal drugs raging in many countries around the world, this new book is a timely and sober reflection on one of the biggest social problems facing the world at large. Of interest not only to economists, but also to criminologists and those involved in policy-making, The Economics of Illegal Drugs is an accessible, comprehensive and international review of the topic and the usefulness of applying microeconomic analysis to drug production and distribution.

This volume covers the period 1787-1795 and contains The Defence of Usury, the Manual of Political Economy in its authentic form and two financial treatises which reflect Bentham's work to find a way in which govenment could be carried on without taxation.

Large public projects represent major complex investment and whilst there has been much written about how to develop, manage and deliver such projects, practice still does not match up with expectations. In this book, researchers from the Norwegian Concept Research Programme explore the paradoxes between theory and practice in collaboration with experts in the field of project governance. This book delves into the reality of large public projects, to show how they can be managed effectively and efficiently, recognising the realities of their context. It offers a range of practical conclusions as to the paradoxes of the governance and management of public projects. The international spectrum of authors draw their examples from the UK, Norway, Canada, France, Australia and the Netherlands. Bridging the gap between research, theory and practice, this book will benefit academics and researchers in the field of project management and corporate governance as well as those in the practice of public project governance, civil servants and industry practitioners.

The income velocity of money-an inverse measure of the demand for money balances-is the ratio of the money value of income to the average money stock that the public (excluding banks) holds in a given period. Why the magnitude of that ratio has changed over time is the subject of Michael D. Bordo and Lars Jonung's classic study, originally published as The Long-Run Behavior of the Velocity of Circulation. Supported by statistical data, econometric estimation techniques, and meticulous historical analysis, this work describes, in an international setting, how slow-moving economic, social, and political forces interact with the decisions households and firms make about how much money to hold.

Annual time series of velocity for several countries from the late nineteenth century to the late twentieth century display a U-shaped pattern. Existing theories can explain each section of the velocity curve-the falling, flat, and rising parts-but the overall pattern is not consistent with any one theory. Here the authors put forth a comprehensive explanation for this behavior over time. Their theory is largely an extension of the approach of Knut Wicksell, the Swedish economist who stressed the role of substitution between monetary assets. This approach, which emphasizes institutional variables, is incorporated into the arguments for the traditional long-run money demand (velocity) function. Four types of empirical evidence strongly support the authors' theory: econometric studies of the long-run velocity function for several countries; a cross section study of approximately eighty countries in the postwar period; a case study of the Swedish monetization process in the fifty years before World War I; and an examination of the time series properties of velocity.

Demand for Money suggests that institutional factors, as opposed to real income, play a greater role in velocity than previously thought. And these institutional factors have a major impact on monetary policy. This is a book that will prove of great value to economists, monetary strategists, and policymakers.

Contents:
Volume I
Section 1: John A. Hobson: Life and Times
1. G. D. Cole, 'J. A. Hobson, 1858-1940', Economic Journal, 50, 1940, pp.351-360.
2. C. E. M. Joad, 'On J. A. Hobson', Monthly Record of the South Place Ethical Society, May 1940, pp.5-6.
3. J. M. Clark, 'John A. Hobson: Heretic and Pioneer (1858-1940)', Journal of Social Philosophy, 5, July 1940, pp.356-359.
4. Nicholas Merkowich, 'The Economics of John A. Hobson', Indian Journal of Economics, 23, 1942, pp.175-185.
5. H. N. Brailsford, The Life Work of J. A. Hobson, (London: Oxford University Press, 1948), pp.3-29.
6. S. K. Ratcliffe and K. M. Ratcliffe, 'John A. Hobson, 1858-1940', Monthly Record, 63, 1958, pp.6-7.
7. Harvey Mitchell, 'Hobson Revisited', Journal of the History of Ideas, 26, 1965, pp.397-416.
8. Michael Freeden, 'J. A. Hobson as a New Liberal Theorist: Some Aspects of His Social Thought Until 1914', Journal of the History of Ideas, 34, 3, 1973, pp.421-443.
9. W. H. Richmond, 'John A. Hobson: Economic Heretic', American Journal of Economics and Sociology, 37, 3, July 1978, pp.283-294.
10. P. J. Cain, 'International Trade and Economic Development in the Work of J. A. Hobson before 1914', History of Political Economy, II, 3, 1979, pp.406-424.
11. Anver Offer, 'Empire and Social Reform: British Overseas Investment and Domestic Politics, 1908-1914', The Historical Journal, 26, 1, 1983, pp.119-138.
12. Peter F. Clarke, 'Hobson, John Atkinson (1858-1940)', in John Eatwell, Murray Milgate and Peter Newman, eds., The New Palgrave: A Dictionary of Economics, (London: Macmillan, 1987), pp.664-666.
13. Jules Townshend, 'J.A. Hobson: Philosopher of Liberal Socialism', Modern History Review, 3, 3, 1992, pp.26-28.
14. Peter Cain, 'Introduction to J. A. Hobson's Work and Wealth: A Human Valuation (1914)', in J. A. Hobson: A Collection of Economic Works, Volume 5, (London, Routledge/Thoemmes Press, 1992), pp.v-xiv.
15. Roger Backhouse, 'Introduction to J. A. Hobson's Writings on Distribution and Welfare Economics (1890-1937)', in J. A. Hobson: A Collection of Economic Works, Volume 3, (London: Routledge/Thoemmes Press, 1992), pp.v-xv.
16. Peter Cain, 'Introduction to J. A. Hobson's The Industrial System (1910)', in J. A. Hobson, A Collection of Economic Works, Volume 4, (London: Routledge/Thoemmes Press, 1992), pp.v-x.
17. Peter Cain, 'Introduction to J. A. Hobson's Writings on Imperialism and Internationalism (1891-1930)', in J. A. Hobson, A Collection of Economic Works, Volume 6, (London: Routledge/Thoemmes Press, 1992), pp.v-xiii.
18. Roger Backhouse, 'Introduction to J. A. Hobson's The Physiology of Industry (1889)', in J. A. Hobson, A Collection of Economic Works, Volume 1, (London: Routledge/Thoemmes Press, 1992), pp.v-xiii.
Volume II
Section 2: Hobson's Imperialism
19. T. Veblen, 'Review of J.A. Hobson's Imperialism', Journal of Political Economy, 12, 1903, pp.311-314.
20. William L. Langer, 'A Critique of Imperialism', Foreign Affairs, 14, 1935, pp.102-119.
21. Hans Kohn, 'Review of Hobson's Imperialism: A Study', American Sociological Review, 4, 1939, pp.434-435.
22. Richard Koebner, 'The Concept of Economic Imperialism', The Economic History Review, 2nd series, II, 1, 1949, pp.1-29.
23. Daniel H. Kruger, 'Hobson, Lenin and Schumpeter on Imperialism', Journal of the History of Ideas, 16, 1955, pp.252-259.
24. L. G. Churchward, 'Towards the Understanding of Lenin's Imperialism', Australian Journal of Politics and History, V, 1, May 1959, pp.76-83.
25. Mark Blaug, 'Economic Imperialism Revisited', Yale Review, 1961, pp.335-349.
26. D. K. Fieldhouse, 'Imperialism: An Historiographical Revision', The Economic History Review, 2nd series, XIV, 2, 1961, pp.187-209.
27. David S. Landes, 'Some Thoughts on the Nature of Economic Imperialism', The Journal of Economic History, XXI, 1961, pp.496-512.
28. Gordon Tulloch, 'Hobson's Imperialism', Modern Age, 7, 1963, pp.157-161.
29. S. A. Shah, 'Review of Hobson's Imperialism: A Study', Science and Society, 32, 1968, pp.100-104.
30. Eric Stokes, 'Late Nineteenth Century Colonial Expansion and the Attack on the Theory of Economic Imperialism: A Case of Mistaken Identity?', The Historical Journal, XII, 2, 1969, pp.285-301.
31. Gaston G. Leduc, 'The Economic Balance Sheet of Colonialism', Contemporary History, 1969, pp.37-50.
32. Trevor A. Lloyd, 'Africa and Hobson's Imperialism', Past and Present, 55, 1972, pp.130-153.
33. P. J. Cain, 'J. A. Hobson, Cobdenism, and the Radical Theory of Economic Imperialism, 1898-1914', Economic History Review, 31, 1978, pp.565-584.
34. P. F. Clarke, 'Hobson, Free Trade, and Imperialism', Economic History Review, 34, 1981, pp.308-312.
35. P. J. Cain, 'Hobson's Developing Theory of Imperialism', Economic History Review, 34, 1981, pp.313-316.
36. Norman Etherington, 'Reconsidering Theories of Imperialism', History and Theory, 21, 1, 1982, pp.1-36.
37. Norman Etherington, 'The Capitalist Theory of Capitalist Imperialism', History of Political Economy, 15, 1, 1983, pp.38-62.
38. Eileen P. Sullivan, 'Liberalism and Imperialism: J. S. Mill's Defense of the British Empire', Journal of the History of Ideas, 44, 4, 1983, pp.599-617.
39. John Cunninham Wood, 'J. A. Hobson and British Imperialism', American Journal of Economies and Sociology, 42, 4, Oct 1983, pp.483-500.
40. Peter Cain, 'J. A. Hobson, Financial Capitalism and Imperialism in Late Victorian and Edwardian England', Journal of Imperial and Commonwealth History, 13, 3, 1985, pp.1-27.
41. Peter J. Cain, 'Hobson, Wilshire, and the Capitalist Theory of Capitalist Imperialism', History of Political Economy, 17, 3, 1985, pp.455-460.
42. Robert Vicat Turrell, ' Finance . . . The Governor of the Imperial Engine': Hobson and the Case of Rothschild and Rhodes', Journal of South Africa Studies, 13, 3, 1987, pp.417-442.
43. D. K. Fieldhouse, ' Imperialism'. An Historiographical Revision, South African Journal of Economic History, 7, 1, 1992, pp.45-72.
44. Stephen Edgell and Jules Townshend, 'John Hobson, Thorstein Veblen and the Phenomenon of Imperialism: Finance Capital, Patriotism and War', American Journal of Economics and Sociology, 51, 4, Oct 1992, pp.401-420.
45. Paul Crook, 'Historical Monkey Business: The Myth of a Darwinized British Imperial Discourse', History, 84, 276, 1999, pp.633-657.
Volume III
Section 3: Hobson's Economic, Social and Political Thought
46. J. L. Laughlin, 'Hobson's Theory of Distribution', Journal of Political Economy, 12, 1904, pp.305-326.
47. D. J. Coppock, 'A Reconsideration of Hobson's Theory of Unemployment', The Manchester School, XXI, 1953, pp.1-21.
48. David Hamilton, 'Hobson with a Keynesian Twist', The American Journal of Economics and Sociology, 1953/1954, pp.271-282.
49. Horace B. Davis, 'Hobson and Human Welfare', Science and Society, 21, 1957, pp.291-318.
50. W. B. Michinton, 'Hobson, Veblen and America', Bulletin of the British Association for American Studies, 8, 1959, pp.29-34.
51. W. P. Culbertson, Jr and R. B. Ekelund, Jr, 'John A. Hobson and the Theory of Discriminating Monopoly', History of Political Economy, 9, 2, 1977, pp.273-282.
52. Claire Hirshfield, The British Left and the 'Jewish Conspiracy' : A Case Study of Modern Antisemitism', Jewish Social Studies, 43, 2, 1981, pp.95-112.
53. John Allet, New Liberalism, Old Prejudices: J. A. Hobson and the 'Jewish Question', Jewish Social Studies, 49, 2, 1987, pp.99-114.
54. Stephen Edgell and Rick Tilman, 'The Intellectual Antecedents of Thorstein Veblen: A Reappraisal', Journal of Economic Issues, XXIII, 4, Dec 1989, pp.1003-1026.
55. J. Meadowcroft and M. W. Taylor, 'Liberalism and the Referendum in British Political Thought', Twentieth Century British History, 1, 1, 1990, pp.35-57.
56. David Long, 'J. A. Hobson and Idealism in International Relations', Review of International Studies, 17, 3, 1991, pp.285-304.
57. Jim Rossman, Hobson's 'surplus income' and its Distribution', Journal of Economic Issues, 25, 1991, pp.199-207.
58. Noel Thompson, 'Hobson and the Fabians: Two Roads to Socialism in the 1920's', History of Political Economy, 26, 2, 1994, pp.203-220.
59. Ray Petridis, 'Brassey's Law and the Economy of High Wages in Nineteenth-Century Economics', History of Political Economy, 28, 1996, pp.583-606.
60. Sandra Den Otter, ' Thinking in Communities' : Late Nineteenth-Century Liberals, Idealists and the Retrieval of Community, Parliamentary History, 16, 1, 1997, pp.67-84.
Section 4: Review of Hobson's Books
61. H. L. Smith, 'Review of Hobson's Problem of Poverty: An Inquiry into the Industrial Condition of the Poor', Economic Journal, 1, 1891, pp.583-586.
62. George Gunton, 'Review of Hobson's The Evolution of Modern Capitalism', Political Science Quarterly, 10, 1895, pp.324-8.
63. Edwin Cannan, 'Review of J. A. Hobson's The Problem of the Unemployed: An Enquiry and an Economic Policy', Economic Journal, 7, 1897, pp.87-89.
64. John Graham Brooks, 'Review of Hobson's John Ruskin, Social Reformer', Political Science Quarterly, 14, 1899, pp.553-4.
65. A. W. Flux, 'Review of Hobson's The Economics of Distribution', Economic Journal, 10, 1900, pp.380-385.
66. John R. Commons, 'Review of Hobson's The Economics of Distribution', Annals of the American Academy, 16, 1900, pp.133-137.
67. N. B. Hammond, 'Review of Hobson's The Economics of Distribution', Gunton's Magazine, 20, 1900, pp.279-282.
68. J. H. Bridges, 'Review of Hobson's The Social Problem', Positivist Review, 1901, pp.213-216.
69. T. N. Carver, 'Review of Hobson's The Social Problem: Life and Work', Political Science Quarterly, 16, 1901, pp.731-733.
70. S. H. Swinny, 'Review of Hobson's The Psychology of Jingoism', Positivist Review, May 1901, pp.106-108.
71. S. H. Swinny, 'An Indictment of Imperialism Positivist Review, Dec 1902, pp.234-238.
72. C. F. Bastable, 'Review of Hobson's International Trade', Economic Journal, 14, 1904, pp.609-612.
73. T. N. Carver, 'Review of Hobson's The Industrial System', The Economic Bulletin, 2, 1909, pp.349-350.
74. Alvin S. Johnson, 'Review of Hobson's The Industrial System', Journal of Political Economy, 17, 1990, pp.644-647.
75. E. J. Urwick, 'Review of Hobson's The Industrial System', Economic Journal, 19, 1909, pp.441-4.
76. W. A. C., 'Review of Hobson's The International Revolution: An Inquiry into Earned and Unearned Income', Fabian News, Dec 1909, pp.92.
77. E. R. P., 'Review of Hobson's The Crisis of Liberalism: New Issues of Democracy', Fabian News, May 1910, pp.47.
78. C. A. Beard, 'Review of Hobson's The Crisis of Liberalism', Political Science Quarterly, 25, 1910, pp.529-531.
79. Alvin S. Johnson, 'Review of Hobson's The Science of Wealth', American Economic Review, 2, 1912, pp.605-606.
80. J. M. Keynes, 'Review of Hobson's Gold, Prices, and Wages', Economic Journal, 23, 1913, pp.393-398.
81. D. H. Macgregor, 'Review of Hobson's Work and Wealth: A Human Valuation', Economic Journal, 24, 1914, pp.560-563.
82. J. M. Clark, 'Review of Hobson's Work and Wealth', Quarterly Journal of Economics, 29, 1, Nov 1914, pp.177-180.
83. Max Sylvius Handiman, 'Review of Hobson's Work and Wealth. A Human Valuation', American Economic Review, 5, 1915, pp.314-315.
84. Hugh Dalton, 'Review of Hobson's Work and Wealth: A Human Valuation', International Journal of Ethics, 25, 1915, pp.265-268.
85. R. Newman, 'A Human Valuation of Economies (A Review of Hobson's Work and Wealth)', Positivist Review, 1 March 1915, pp.67-71.
86. Edwin Cannan, 'Review of Hobson's The New Protectionism', Economic Journal, 26, 1916, pp.365-368.
87. S. Webb, 'Review of Hobson's The New Protectionism', Fabian News, Nov 1916, p.48.
88. John Bruce McPherson, 'Review of Hobson's The New Protectionism', American Economic Review, 7, 1917, pp.885-888.
89. E. M. Patterson, 'Review of Hobson's Democracy After the War', Annals of the American Academy of Political and Social Sciences, 77, 1918, pp.188-189.
90. Edwin Cannan, 'Review of Hobson's Democracy After the War', Economic Journal, 28, 1918, pp.92-94.
91. Bruno Lasker, 'Review of Hobson's Democracy After the War', The Survey, 39, Feb 1918, p.574.
92. W. Paul, 'Mr Hobson on Socialism: A Review of Democracy After the War', The Plebs Magazine, 10, March 1918, pp.25-30.
93. C. Delisle Burns, 'Review of Hobson's Democracy after the War', Hibbert Journal, 17, 1919, pp.336-338.
94. H. G. Moulton, 'A Review of Democracy After the War', American Economic Review, 9, 1919, pp.91-93.
95. J. R. Macdonald, 'Richard Cobden: A Review of Mr. J. A. Hobson's Book', The Labour Leader, 20 February, 1919, p.8.
96. Sir George Paish, 'The Problem of Future Taxation: Review of Hobson's Taxation in the New State', International Review, Oct 1919, pp.183-185.
97. Clyde I. King, 'Review of Hobson's Taxation in the New State', Annals of the American Academy of Political and Social Science, 90, 1920, pp.172-173.
98. R. I. Schuyler, 'Review of Hobson's Richard Cobden, The International Man', Political Science Quarterly, 34, 1920, pp.323-325.
99. C. Lowes Dickinson, 'Review of J.A. Hobson's Problems of a New World', The Sociological Review, 13, 1921, pp.111-112.
100. William Orion, 'Review of Hobson's Incentives in the New Industrial Order', American Economic Review, 13, 1923, pp.289.
101. Rudolph M. Binder, 'Will Equalized Incomes End Unemployment?: Review of Hobson's The Economics of Unemployment', Management and Administration, 6, 1923, p.241.
102. John R. Commons, 'Hobson's Economics of Unemployment', American Economic Review, 13, 1923, pp.638-647.
103. V. I. Lenin, 'Review of Hobson's The Evolution of Modern Capitalism', Economica, 5, 1925, pp.362-364.
104. G. E. G. Catlin, 'Review of Hobson's Free Thought in the Social Sciences', Political Science Quarterly, 41, 1926, pp.619-622.
105. P. Geddes, 'Review of Hobson's Free Thought in the Social Sciences', Sociological Review, 18, 1926, pp.256-257.
106. D. H. Robertson, 'Review of Hobson's Free Thought in the Social Sciences', Economic Journal, 36, pp.451-455.
107. H. J. Laski, 'Review of Hobson's Free Thought in the Social Sciences', in Saturday Review of Literature, Volume 2, September 1926, pp.645-646.
108. A. D. Lindsay, 'Review of Hobson's Free Thought in the Social Sciences', Journal of Philosophical Studies, 2, 1927, pp.259-61.
109. H. Sanderson Furness, 'Review of Hobson's The Conditions of Industrial Peace', Economic Journal, 37, 1927, pp.625-6.
110. Henry W. Macrosty, 'Review of Hobson's Wealth and Life: A Study in Values', Economic Journal, 40, 1930, pp.275-278.
111. T. V. Smith, 'Review of Hobson's Economics and Ethics', American Journal of Sociology, 35, 1930, pp.849.
112. R. H. Tawney, 'Review of Hobson's Wealth and Life', Political Quarterly, 1, 1930, pp.276-278.
113. Henry Raymond Mussey, 'Review of Hobson's Economics and Ethics', The Nation, 130, 5, March 1930, pp.273-274.
114. A. B. Wolfe, 'On the Context of Welfare: (Review of Hobson's Economics and Ethics: A Study in Social Values)', The American Economic Review, 21, June 1931, pp.207-221.
115. Miles H. Krumbine, 'Review of Hobson's God and Mammon', Journal of Religion, 12, 1931, pp.304-306.
116. John Laird, 'Review of Hobson's Wealth and Life: A Study in Values', Wiltwirtschaftliches Archiv, 33, 1931, pp.186-188.
117. Allan G. B. Fisher, 'Review of Hobson's Wealth and Life: A Study in Values', Economic Record, 7, 1931, pp.134-136.
118. Beatrice Edgell, 'Review of Hobson's L.T. Hobhouse, His Life and Work', Journal of Philosophical Studies, 6, 1931, pp.512-515.
119. K. E. Barlow, 'Review of Hobson's Life and Wealth', Sociological Review, 23, 1931, pp.47-48.
120. Lord Sanderson, 'Review of Hobson's L.T. Hobhouse, His Life and Work, with Selected Essays and Articles', Economic Journal, 42, 1932, pp 297-299.
121. L. Susan Stebbing, 'Review of Hobson's L.T. Hobhouse: His Life and Work', The Hibbert Journal, 30, 1932, pp.693-696.
122. Gustavus Tuckerman, 'Review of Hobson's Veblen', American Economic Review, 27, 1937, pp.773-775.
123. A. Löwe, 'Review of Hobson's Veblen', Sociological Review, 30, 1938, pp.95-97.
124. Hugh Gaitskell, 'Review of Hobson's Confessions of an Economic Heretic', New Statesman and Nation, 15, 1938, pp.792-793.
125. C.D.B., 'Review of Confessions of an Economic Heretic', Ethics, 48, 1938, pp.566.
126. G .D.H. Cole, 'Review of Hobson's Confessions of an Economic Heretic', Political Quarterly, 9, 1938, pp.439-441.
127. John R. Commons, 'Review of Hobson's Confessions of an Economic Heretic', American Economic Journal, 38, 1938, pp.756-758.
128. T. S. Ashton, 'Mr. J. A. Hobson's Development (Review of Hobson's Confessions of an Economic Heretic)', Manchester Guardian, 5 April 1938, p.7.
129. Henry Hazlitt, 'The Varied Heresies of J. A. Hobson (Review of Hobson's Confessions of an Economic Heretic)', New York Times Book Review, 24 July 1938, p.4 & p.19.
130. Paul M. Sweezy, 'J. A. Hobson's Heresies: Review of Hobson's Confessions of an Economic Heretic', The Nation, 23 August 1938, pp.209-210.

Depression and Protectionism considers the case of the oldest advocate of free trade and its greatest exponent, Britain, and examines the developments that led to the reversal of that policy in the 1930s. It also discusses the consequences of the protectionst policy for the domestic economy. * Discusses the most important debate in international economics * Using an explicit economic framework, the book examines the economic origins of the industrial tariff in Britain.

One of the fundamental economic problems is one of making the best use of limited resources. As a result, mathematical optimisation methods play a crucial role in economic theory. Covering the use of such methods in applied and policy contexts, this book deals not only with the main techniques (linear programming, nonlinear optimisation and dynamic programming), but also emphasizes the art of model-building and discusses fields such as optimisation over time.

This introduction to economic theory concentrates on some of the most important matters with which theory deals. Beginning by developing the general criteria of efficiency in the allocation of resources between alternative uses, the book then illustrates how efficient allocation can be promoted directly, by state planning, or indirectly by private enterprise. An analysis of the working of business competition in both its free and restricted forms follows, and analysis of the determination of the general levels of production employment and prices is also included.

Part One of this book deals with the theory of how money is created and destroyed. Essential principles are illustrated by considering various models of banking systems. Part Two provides an account of the modern theory of income and employment. * Theory backed up with examples of the simplest to the most complicated models, for example: * The model of "a closed economy without a government" to one in which government expenditure and revenue affect the level of national income * The model in which the rate of interest and quantity of money have no effect and the model in which they are variables relevant to the determination of income

This volume analyses value and equilibrium. Chapters on the decisions of household and on the theory of the firm (including short and long-term planning and investment) include both static and dynamic analysis. * Based on the enlarged sixth German edition this English edition contains many diagrams and an introduction to linear programming, as well as full treatment of the author's well-known theory of production.

Contents:
Part 1. The Schoolmen and their problems
1. The Beginning of Scholasticism in the British Isles
2. Commerce and Ethics
3. Growth of Trade and Commerce
4. Conflict between Ethics and Economics

Part 2. Alexander of Hales (Alensis)
1. Community and Private Property
2. Trade and Commerce
3. Aristotle and the Schoolmen
4. Usury

Part 3. Richardus de Media Villa
1. Community and Liberty
2. Lawfulness of Trade and Commerce
3. Difference between Gain and Interest

Part 4. John Duns Scotus
1. Remarks on his Life and Work
2. Origin of Property and State
3. Trade and Commerce
4. Usury

Part 5. The Legacy of the Schoolmen
1. Preparing the Way for Modern Times
2. William of Ockham
3. Influence on Modern Views

Part 6. The Age of Mercantilism: General View
1. Definition of Mercantilism
2. Importance of Coin and Bullion
3. The Mechanism of Bullionist Policy
4. The Ethics of the Angevin Trade Legislation
5. The Two Periods of Mercantlism

Part 7. Sixteenth Century Economics
1. Price Revolution and Money Difficulties
2. The 'Dearth' and Debasement of the Coinage
3. John Hales on the Nature of Money
4. Influx of West Indian Treasure
5. Delivering Money by Exchange
6. Gerard Malynes and Thomas Milles against Exchangers
7. Excess of Imports
8. The Prime Cause of the Economic Difficulties
9. The Quantity Theory of Money: John Locke

Part 8. Balance of Trade
1. Mediaeval and Modern Conception of Trading
2. Rise of the term "Balance of Trade"
3. Origin of Some Ideas of the Balance of Trade
4. Thomas Mun and Edward Misselden
5. Influence of the Balance of Trade Doctrine

Part 9. Importance of Manufacture
1. Arts and Crafts as a Source of Treasure
2. Beginning of the Protective System
3. Sir William Petty on Money, Value and International Trade
4. Petty and his Contemporaries on Labour, Population and Wages
5. Conflict between Crown and Merchants

Part 10. Recapitualation
1. Meaning of the Balance of Trade
2. Mercantilism and Foreign Politics

Part 11. Transition to Liberal Economics
1. Introductory Remarks
2. Manufacture, Credit, Banking and Free Trade
3. The Ant-Mercantilists: Child, Barbon, Davenant
4. The Free-Trade Maxims of Dudley North
5. The Economics of the Free-Trade Doctrine
6. Jacob Vanderlint, Matthew Dekker, and Joseph Massie
7. David Hume

Retrospect: British Economies in 1750

Nassau Senior is one of the most significant economists in the classical tradition. This study is based both on his unpublished and published lectures and writings. Part 1 illustrates Senior's outstanding contribution in synthesizing the various developments of Adam Smith's theories that took place during the first part of the 19th century. Part 2 examines Senior's opinions and influence on social and economic policy, in particular his connection with the passing of the Poor Law Amendment Act of 1834.

The concept of 'marginal value' is critical to the emergence of neo-classical economics. This volume is divided into sections on: Book I: Utility (Disutility of labour, Utility and Wants, Direct and Indirect Utility, Utility Equations, Subjective Price) Book II: Value and Market (Objective Price, Markets, Value) Book III: Relations of Subjective Prices (The Distribution of Income and Prices, The Elasticity of Consumption, Differential Rent) Book IV: The Normal Market (Constant, Decreasing and Increasing Return)

The book presents a rigorous reconstruction of Ricardo's contribution to economic theory and a unifying interpretation of the key issues of Ricardo's research. Part One deals primarily with the problems of value and distribution Part Two deals specifically with the issues of distribution and growth. * Contemporary economic literature in the fields of value, distribution and growth is witnessing a renewed interest in the approach of the classical school, notably in the work of David Ricardo.

The connection between productive labour and effective demand has often been ignored and disputed in political economy, even by giants like Ricardo and Marx. This book traces the historical development of theories, concentrating in particularly on those of Malthus, Marx and Keynes. Particular attention is also paid to the Great Depression in the UK and USA.

This book illustrates how the first social science, that of economics, was built. It examines and discusses the work of Josiah Child, Nicholas Barbon, John Collins, William Petty, John Locke and Dudley North and the economic theories of the seventeenth and eighteenth centuries.

Adam Smith's Wealth of Nations has been among the world books for over two hundred years and has gathered a mythology, which does scant justice to the actual book. One reason for this was that the Wealth of Nations was one of a series of studies through which Smith hoped to complete his system of moral, social and natural philosophy. The Individual in Society illustrates this system, especially in relation to Smith's other major work, The Theory of Moral Sentiments and examines its relation to the Wealth of Nations. Included are: * Chapters on the views of important commentators such as Zeyss, Eckstein, Jacob Viner and James Bonar * Discussion of the ethical and sociological background of Smith's work and its influence on the thought of the next century.

Volume One analyses the intellectual sources and evolution of Marx's critique of political economy leading up the writing of the main Capital manuscripts (1844-1860). The volume: * Provides a clear illustration of the contents of the texts in a way that enables readers to understand the intellectual influences on Marx * Clarifies Marx's own view of what he was trying to achieve through his critique of political economy * The themes of value, income distribution and the law of motion of capitalism are traced to their origins.

Volume Two covers the years 1861-1863, when Marx consolidated and refined the arguments of his critique of political economy in his relatively neglected manuscripts Theories of Surplus Value. * Special attention is paid to the nature, scope and limitations of Marx's critique and to the critique of Ricardo's Principles.

This is one of the first complete surveys of McCulloch's work, and it shows his thought to have been far more complex and comprehensive than has previously been realized.

Ricardo is one of the most imposing figures in the history of economic thought, yet at times his writings are among the most obscure. This book traces, simplifies and clarifies Ricardo's ideas on the principal topics on which he wrote. It also provides an analysis of Ricardo's most cryptic passages and explores areas where Ricardo appears to be mistaken. Setting his writings against the context of his contemporaries, the relevance of the Ricardian contribution to subsequent economic thinking is made very clear.

The articles in this volume were written in honour of F. A. Hayek and cover the whole scope of his thought. Many of the essays take as a starting point Hayek's own writings. The list of distinguished contributors include: Jacques Rueff, George Halm, Michael Polyani, Gordon Tullock, Gunter Schmoelders, Friedrich Lutz, Gottfried von Haberler, Frank Paish, Ludwig Lachmann, Peter Bauer, James Buchanan, Fritz Machlup and Karl Popper.

This book discusses the history of economic theories, drawing largely from periodical literature, which is often hard to obtain. The book is divided into sections along linguistic lines (German, Romance and English speaking countries).

Social Economics holds a place in the literature of the Austrian School such as John Stuart Mill's Political Economy holds in the literature of classical theory. It sums up, systematises and extends the doctrines developed by the founder of the school, the author and his fellow workers.

With an impressive array of international contributors from the UK, USA, Sweden and Peru, this book includes chapters on the following: The nature of the multinational enterprise; The theory of the firm; The location of economic activity; Industrial organization; Technology and technological change; the theory of international trade; Monetary policy; The theory of development policy; Wage determination and collective bargaining; Income distribution and welfare considerations and size of firm and size of nation.