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Manual of Political Economy - A Critical and Variorum Edition (Paperback, 1)
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Manual of Political Economy - A Critical and Variorum Edition (Paperback, 1)
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Vilfredo Pareto's Manual of Political Economy is a 'classic' study
in the history of economic thought for many reasons, the most
noteworthy of which include the setting of general equilibrium
economics within a choice theoretic framework based on the
opposition between tastes and obstacles; the definitive formulation
of economic efficiency, including the surplus approach to
collective welfare; the technically flawed but nonetheless
insightful treatment of path dependence in consumer theory; and the
introduction of non-competitive market analysis to the general
equilibrium economics. In so doing, Pareto's general study of
economic equilibrium not only substantially extended the
contributions to economic theory made by Leon Walras, his
predecessor in the Chair of Political Economy at the University of
Lausanne, it did so in a manner that was often contrary to Walras's
own thinking on the formalisation of economic theory. This English
language 'critical edition' of Pareto's Manual of Political Economy
- a revised and extended translation of the 'Edizione critica'
published in Italian in 2006 - is a very significant book for two
main reasons. First, it is the only variorum translation of the
Italian language Manuale di Economia Politica, originally published
in 1906, and the subsequent French language Manuel d'Economie
Politique, originally published in 1909. Second, it includes
extensive contributions from the editors including annotations, to
clarify particular points in Pareto's text; editors' notes, to
critically reflect on major themes in Pareto's text and to draw
attention to the historical influences that led to their
development and their anticipation of, or influence on, subsequent
ideas that emerged in economics; and notes to the 1909 mathematical
appendix, to highlight the mix of insight and imperfection in
Pareto's mathematical economics.
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