Business Cycles in Economic Thought underlines how, over the time span of two centuries, economic thought interacted with cycles in a continuous renewal of theories and rethinking of policies, whilst economic actions embedded themselves into past economic thought. This book argues that studying crises and periods of growth in different European countries will help to understand how different national, political and cultural traditions influenced the complex interaction of economic cycles and economic theorizing. The editors of this great volume bring together expert contributors consisting of economists, historians of economic thought and historians of economics, to analyse crises and theories of the nineteenth and the twentieth century. This is alongside a comprehensive outlook on the most relevant advances of economic theory in France, Germany and Italy, as well as coverage of non-European countries, such as the United States. Several of the highly prestigious Villa Vigoni Trilateral Conferences formed the background for the discussions in this book. This volume is of great interest to students and academics who study history of economic thought, political economy and macroeconomics.

This is the opus magnum of one of the world's most renowned experts on the history of economic thought, Bertram Schefold. It contains commentaries from the series Klassiker der Nationaloekonomie (Classics of Economics), which have been translated into English for the first time. Schefold's choices of authors for this series, which he has edited since 1991, and his comments on the various re-edited works, are proof of his highly original and thought-provoking interpretation of the history of economic thought. Together with a companion volume, Great Economic Thinkers from Antiquity to the Historical School: Translations from the series Klassiker der Nationaloekonomie, this book is a collection of English translations with introductions by Bertram Schefold. The emphasis of this volume is on the theoretical debates, from the theory of value to imperfect completion; from money to the institutional framework of society; and from the history of economic thought to pioneering works in mathematical economics. This volume is an important contribution to the history of economic thought, not only because it delivers original and fresh insights about well-known figures, such as Marx, Stackelberg, Sraffa, Samuelson, Tooke, Hilferding, Schmoller and Chayanov, but also because it deals with ideas and authors who have been forgotten or neglected in previous literature. This volume is of great interest to those who study the history of economic thought, economic theory and philosophy, as well as those who enjoyed the author's previous volume, Great Economic Thinkers from Antiquity to the Historical School.

The Impact of Keynes on Economics in the 20th Century reconsiders the nature and significance of Keynes's theories and economic policies. It provides important contrasting interpretations of Keynesian thought, and illustrates the diversity of Keynesianism in different European countries throughout the century. The book provides a blend of theoretical and historical discussions to evaluate the contents and implications of Keynesianism. It includes reappraisals of modern interpretations of Keynes's thought, the extent to which Keynesian ideas were anticipated in different European countries and the reactions to the Keynesian revolution. In addition the authors consider the impact of Keynesian thought on institutions which embraced, rejected or developed alternatives to this school of thought. The book is divided into three main parts. The first addresses Keynesian theory. The second part presents an overall picture of Keynesian-type policies and theories throughout Europe; many of these were not necessarily stimulated by Keynes but were the outcome of national traditions and on-going debates. The third part is devoted to how Keynesian policy has been used by government and non-governmental organizations in an attempt to deal with unemployment and deflation during the twentieth century. The Impact of Keynes on Economics in the 20th Century will be welcomed by historians of economic thought, economic historians and those interested in Keynesian and post-Keynesian developments in Europe during this century.

The Western literature on the history of Chinese economic thought is sparse, and comparisons with the history of Western economic thought even more so. This pioneering book brings together Western and Chinese scholars to reflect on the historical evolution of economic thought in Europe and China. The international panel of contributors cover key topics such as currency, usury, land tenure, the granary system, welfare, and government, and special attention is given to monetary institutions and policies. The problem of "good government" emerges as the unifying thread of a complex analysis that includes both theoretical issues and applied economics. Chinese lines of evolution include the problem of the agency of the State, its ideological justification, the financing of public expenditure, the role played by the public administration, and the provision of credit. The early radical condemnation of usury in the Near East and in the West gives way to theoretical justifications of interest-taking in early capitalist Europe; they, in turn, lead to advances in mathematics and business administration and represent one of the origins of modern economic theory. Other uniting themes include the relationship between metallic and paper money in Chinese and European experiences and the cross-fertilization of economic practices and ideas in the course of their pluri-millennial interactions. Differences emerge; the approach to the organization of economic life was, and still is, more State-centred in China. The editors bring together these analytical threads in a final chapter, opening wider horizons for this new line of comparative economic research which is important for the understanding of modern ideological turns. This volume provides valuable reading for scholars in the history of economic thought, economic history and Chinese studies.

This is the opus magnum of one of the world's most renowned experts on the history of economic thought, Bertram Schefold. It contains commentaries from the series Klassiker der Nationaloekonomie (Classics of Economics), which have been translated into English for the first time. Schefold's choices of authors for this series, which he has edited since 1991, and his comments on the various re-edited works, are proof of his highly original and thought-provoking interpretation of the history of economic thought. Together with a companion volume, Great Economic Thinkers from Antiquity to the Historical School: Translations from the series Klassiker der Nationaloekonomie, this book is a collection of English translations with introductions by Bertram Schefold. The emphasis of this volume is on the theoretical debates, from the theory of value to imperfect completion; from money to the institutional framework of society; and from the history of economic thought to pioneering works in mathematical economics. This volume is an important contribution to the history of economic thought, not only because it delivers original and fresh insights about well-known figures, such as Marx, Stackelberg, Sraffa, Samuelson, Tooke, Hilferding, Schmoller and Chayanov, but also because it deals with ideas and authors who have been forgotten or neglected in previous literature. This volume is of great interest to those who study the history of economic thought, economic theory and philosophy, as well as those who enjoyed the author's previous volume, Great Economic Thinkers from Antiquity to the Historical School.

The papers collected in this book, first published in 1990, represent the edited proceedings of a conference held to celebrate the 25th anniversary of the publication of Piero Sraffa's Production of Commodities by Means of Commodities. In arranging the conference, and subsequently during the editing of the papers, great care has been taken to invite scholars of different schools of thought to contribute. The result of this collection of ideas has resulted in a most promising critique and provides an extensive alternative to modern Neo-Classical theory, of interest to all students of economic thought.

An attempt to provide a formal analysis of joint production, the text of which was originally the author's PhD thesis. The work is designed to lead from the most abstract and general concepts of the theory of value to applications in the areas of the measurement of capital and growth, of international trade, and of natural resources.

This collection brings together significant new contributions to the Sraffa--based theories of production and distribution, from post-Keynesian arguments concerning monetary and macro economics to the history of thought and methodology. All of the authors are well established authorities in their field, and in this book they add stimulating and original pieces of analysis to the contemporary literature.

Production, Distribution and Trade is divided into three parts. The first explores analytical issues in production and exchange theory, the second examines Postkeynesian Macroeconomics and the final part includes essays on the history of economic thought and methodology. This collection has been written in honour of Sergio Parrinello and is a fitting tribute to his untiring efforts to stimulate discussion among Classicists, Marxists, Postkeynesians, and Evolutionists.

The book is a clear and convincing attempt to prove that an alternative paradigm to mainstream economics is alive and thriving and to argue that these perspectives shed better light on current economic problems, both as diagnosis and in terms of policy conclusions. The book will be of interest to Economics postgraduate students and researchers working in the Classical and Postkeynesian tradition.

The papers collected in this book, first published in 1990, represent the edited proceedings of a conference held to celebrate the 25th anniversary of the publication of Piero Sraffa's Production of Commodities by Means of Commodities. In arranging the conference, and subsequently during the editing of the papers, great care has been taken to invite scholars of different schools of thought to contribute. The result of this collection of ideas has resulted in a most promising critique and provides an extensive alternative to modern Neo-Classical theory, of interest to all students of economic thought.

This book contains commentaries from the series "Klassiker der Nationaloekonomie" (classics of economics), which have been translated into English for the first time. This selection focuses on neglected, but notable writers in a deserted sub-discipline, localising the beginning of economic science not with Adam Smith, but with the moral question of usury and the good life in Antiquity. Bertram Schefold's choice of authors for the "Klassiker" series, which he has edited since 1991, and his comments on the various re-edited works are proof of his highly original and thought-provoking interpretation of the history of economic thought (HET). This volume is an important contribution to HET not only because it delivers original and fresh insights about such well-known figures as Aristotle, Jevons or Wicksell, but also because it deals with authors and ideas who have been forgotten or neglected in the previous literature. In this regard Schefold's book could prove to be seminal for the field of the history of economic thought, for in the age of globalisation our usual restriction to the thinkers of Western Europe and the USA might eventually be overcome. This book will give the reader a far broader view of economics compared to that of the latest research. This volume is suitable for those who are interested in and study history of economic thought as well as economic theory and philosophy.

"Schefold's book provides a mathematical goldmine of theorems, as well as presenting those interested in Sraffian and Marxian economics with a basic source book and, indeed, inspiration for work in this field. It strides across many boundaries which currently divide our subject."--John Eatwell, University of Cambridge
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This collection brings together significant new contributions to the Sraffa--based theories of production and distribution, from post-Keynesian arguments concerning monetary and macro economics to the history of thought and methodology. All of the authors are well established authorities in their field, and in this book they add stimulating and original pieces of analysis to the contemporary literature. Production, Distribution and Trade is divided into three parts. The first explores analytical issues in production and exchange theory, the second examines Postkeynesian Macroeconomics and the final part includes essays on the history of economic thought and methodology. This collection has been written in honour of Sergio Parrinello and is a fitting tribute to his untiring efforts to stimulate discussion among Classicists, Marxists, Postkeynesians, and Evolutionists. The book is a clear and convincing attempt to prove that an alternative paradigm to mainstream economics is alive and thriving and to argue that these perspectives shed better light on current economic problems, both as diagnosis and in terms of policy conclusions. The book will be of interest to Economics postgraduate students and researchers working in the Classical and Postkeynesian tradition.

Business Cycles in Economic Thought underlines how, over the time span of two centuries, economic thought interacted with cycles in a continuous renewal of theories and rethinking of policies, whilst economic actions embedded themselves into past economic thought. This book argues that studying crises and periods of growth in different European countries will help to understand how different national, political and cultural traditions influenced the complex interaction of economic cycles and economic theorizing. The editors of this great volume bring together expert contributors consisting of economists, historians of economic thought and historians of economics, to analyse crises and theories of the nineteenth and the twentieth century. This is alongside a comprehensive outlook on the most relevant advances of economic theory in France, Germany and Italy, as well as coverage of non-European countries, such as the United States. Several of the highly prestigious Villa Vigoni Trilateral Conferences formed the background for the discussions in this book. This volume is of great interest to students and academics who study history of economic thought, political economy and macroeconomics.

This book contains commentaries from the series "Klassiker der Nationaloekonomie" (classics of economics), which have been translated into English for the first time. This selection focuses on neglected, but notable writers in a deserted sub-discipline, localising the beginning of economic science not with Adam Smith, but with the moral question of usury and the good life in Antiquity. Bertram Schefold's choice of authors for the "Klassiker" series, which he has edited since 1991, and his comments on the various re-edited works are proof of his highly original and thought-provoking interpretation of the history of economic thought (HET). This volume is an important contribution to HET not only because it delivers original and fresh insights about such well-known figures as Aristotle, Jevons or Wicksell, but also because it deals with authors and ideas who have been forgotten or neglected in the previous literature. In this regard Schefold's book could prove to be seminal for the field of the history of economic thought, for in the age of globalisation our usual restriction to the thinkers of Western Europe and the USA might eventually be overcome. This book will give the reader a far broader view of economics compared to that of the latest research. This volume is suitable for those who are interested in and study history of economic thought as well as economic theory and philosophy.

In this volume, continuities and discontinuities between Historical School of Economics and Old Institutional Economics are examined with regard to common research objectives and methods. Similarly, those between these two economic movements and New Institutional Economics as well as new economic sociology are discussed. The following questions functioned as a guideline for the contributing economists, sociologists, historians, and philosophers: Can we meaningfully speak of the Historical School of Economics (HSE) as an economic research program? What are the commonalities between the HSE and American old economic institutionalism? Does the HSE represent a part of the "lost anteroom" of New Institutional Economics and new economic sociology? How and why should the HSE matter to how we do economic and social theory today?

In this volume, continuities and discontinuities between Historical School of Economics and Old Institutional Economics are examined with regard to common research objectives and methods. Similarly, those between these two economic movements and New Institutional Economics as well as new economic sociology are discussed. The following questions functioned as a guideline for the contributing economists, sociologists, historians, and philosophers: Can we meaningfully speak of the Historical School of Economics (HSE) as an economic research program? What are the commonalities between the HSE and American old economic institutionalism? Does the HSE represent a part of the "lost anteroom" of New Institutional Economics and new economic sociology? How and why should the HSE matter to how we do economic and social theory today?

This book investigates the economic organization of ancient societies from a comparative perspective. By pursuing an interdisciplinary approach, including contributions by archaeologists, historians of antiquity, economic historians as well as historians of economic thought, it studies various aspects of ancient economies, such as the material living conditions including production technologies, etc.; economic institutions such as markets and coinage; as well as the economic thinking of the time. In the process, it also explores the comparability of economic thought, economic institutions and economic systems in ancient history. Focusing on the Ancient Near East as well as the Mediterranean, including Greece and Rome, this comparative perspective makes it possible to identify historical permanencies, but also diverse forms of social and political organization and cultural systems. These institutions are then evaluated in terms of their capacity to solve economic problems, such as the efficient use of resources or political stability. The first part of the book introduces readers to the methodological context of the comparative approach, including an evaluation of the related historiographical tradition. Subsequent parts discuss a range of development models, elements of economic thinking in ancient societies, the role of trade and globalization, and the use of monetary and financial instruments, as well as political aspects.

A re-examination of the George Circle in the cultural and political contexts of Wilhelmine, Weimar, and Nazi Germany. Stefan George (1868-1933) was one of the most important figures in modern German culture. His poetry, in its originality and impact, has been ranked with that of Goethe and Hoelderlin. Yet George's reach extended beyond the sphereof literature. In the early 1900s, he gathered around himself a circle of disciples who subscribed to his vision of comprehensive cultural-spiritual renewal and sought to turn it into reality. The ideas of the George Circle profoundly affected Germany's educated middle class, especially in the aftermath of the First World War, when their critique of bourgeois liberalism, materialism, and scholarship (Wissenschaft) as well as their call for new formsof leadership (Herrschaft) and a new Reich found wider resonance. The essays collected in the present volume critically re-examine these ideas, their contexts, and their influence. They provide new perspectives on the intersection of culture and politics in the works of the George Circle, not least its ambivalent relationship to National Socialism. Contributors: Adam Bisno, Richard Faber, Rudiger Goerner, Peter Hoffmann, Thomas Karlauf, Melissa S. Lane, Robert E. Lerner, David Midgley, Robert E. Norton, Ray Ockenden, Ute Oelmann, Martin A. Ruehl, Bertram Schefold. Melissa S. Lane is Professor of Politics at Princeton University. Martin A. Ruehl is Lecturerin German Thought and Fellow of Trinity Hall, University of Cambridge.

Die Analyse okonomischer Fragestellungen insbesondere wirtschaftspolitischer Probleme mit Hilfe eines geeigneten theoretischen Instrumentariums, die "angewandte Wirtschaftsforschung", wird in diesem Band behandelt. Ziel ist es dabei, die Vielseitigkeit der Forschungen Gottfried Bombachs in der Vielseitigkeit der Interessen seiner Schuler zu spiegeln. Die Leistungsfahigkeit der modernen Theorie wird dokumentiert, das Verstandnis okonomischer Zusammenhange und ihrer Anwendungen auf die Entwicklung wirtschaftspolitischer Strategien werden gefordert.

The influence of political developments on the evolution of economic thought is the main theme behind this book. As the authors reveal throughout the book, history has shown many times that political events can trigger the formulation of new economic conceptions that in turn influence the future economic development of a country. The papers are arranged into five main areas of interest: monetary theory and policy economic crisis in France and the emergence of the physiocratic school the co-evolution of political ideas and economic thought in different countries and periods in Europe continuity and discontinuity in Russian economic thought attempted economic solutions to the problems posed by the Great Depression and the associated political transformation. Political Events and Economic Ideas will hold great appeal and interest for researchers and scholars of political thought, as well as historians of economic thought worldwide.

Der in den Zwanziger Jahren erregt gefuhrte Krisendiskurs erklarte die Gegenwartsprobleme der Weimarer Republik zum Hohepunkt einer Krise der Moderne insgesamt. Aus dieser Perspektive heraus erschien es sinnlos, die Verhaltnisse zu reformieren, ein radikaler Neuentwurf war notig, um die Strukturdefekte der Moderne zu uberwinden. Diese Lage bildet den historischen Hintergrund, vor dem sich die im vorliegenden Band versammelten Beitrage mit den Vorstellungen von Staat und Gemeinschaft im George-Kreis beschaftigen. Den Anhangern des Dichters ging es darum, einer prekaren Gegenwart das Ideal des "schonen Lebens" gegenuberzustellen: als Heilmittel gegen Ordnungsverlust, gesellschaftliche Konflikte und innere Zerrissenheit. Die im George-Kreis entwickelten Gemeinschaftsvorstellungen zielten darauf ab, ausgewahlten Mitgliedern die Moglichkeit zu geben, ihr ganzheitliches Menschsein zu entwickeln und ihre asthetischen und intellektuellen Potentiale unter der Fuhrung eines Meisters, Stefan Georges, zu entfalten. Die Frage, ob daruber hinaus durch das Modell einer solchen Gemeinschaft die Gesellschaft als Ganze verandert und ein "Neues Reich" geschaffen werden konnte, entstand bei einzelnen Mitgliedern des Kreises schon vor dem Ersten Weltkrieg, blieb jedoch heftig umstritten. Die Beitrage des Bandes analysieren auch, auf welche Weise sich die Vorstellungen von Staat und Gemeinschaft im Denken, in der literarischen und wissenschaftlichen Produktion sowie den Lebensentwurfen der Kreismitglieder manifestierten. Im Rahmen des George-Kreises wurde das Idealbild einer guten Ordnung nicht im Bereich des Utopischen belassen, sondern in der Lebens- und Forschungspraxis der Kreismitglieder zu verwirklichen versucht."

Die Begriffe der "Wissens-" und der "Informationsgesellschaft" bezeichnen eine Transformation, nach der die Entstehung und die Verwendung von Wissen in den okonomischen Prozess eingebunden werden sollen und schliesslich konsequent als Teil desselben angesehen werden. Das Wissen ist nicht mehr eine in unbestimmter Weise "produktive Kraft," sondern ein so weit moglich rationaler Berechnung zu unterwerfender Produktionsfaktor, der aber nicht nur die Produktion unterstutzt, sondern selbst hergestellt wird, der also Kapital darstellt, das, so weit es im einzelnen Menschen vorhanden und verfugbar ist, Humankapital genannt wird. In den letzten Jahren wird die Neuausrichtung der europaischen Forschungs- und Innovationspolitik vor der Hintergrundannahme einer aufziehenden "Europaischen Wissensgesellschaft" diskutiert. Im Zentrum des vorliegenden Bandes steht die Frage, inwieweit die Praxis der Forschungs- und Innovationspolitik, insbesondere der Europaischen Union, vom Leitbild einer "Europaischen Wissensgesellschaft" bestimmt wird. Die in diesem Band versammelten Beitrage greifen die mit der Thematik verbundenen Fragen mit einer okonomischen, soziologischen und politisch-praktischen Perspektive auf und tragen dazu bei, den wissenschaftlichen und politischen Diskurs um Wissen, Bildung und Innovation ein Stuck weit von seiner Engfuhrung auf rein technologische Aspekte des sozio-okonomischen Wandels zu losen."

(1) Manche mogen die Aufnahme Marshalls in diese Liste anfech- ten und wUrden Walras' Elements of Pure Economics (Origi- nal: Elements d'economie politique pure, ou theorie de la richesse sociale) als die profundere und logisch konsisten- tere Darstellung der neoklassischen okonomischen Theorie vorziehen. In meinen Augen fUhrte Marshalls Erkenntnis der Grenzen deduktiver Uberlegungen und der Unmoglichkeit, ein auf wenigen grundlegenden Axiomen beruhendes 'reines Mo- dell' zu konstruieren, jedoch zu fruchtbareren Resultaten als die eingleisige Verfolgung einer axiomatischen Wert- theorie. (2) Die hier gewahlte Darstellung des Prinz ips weicht etwas von Keynes' eigener in der General Theory abo (Sie gleicht mehr Keynes' Ansatz im Treatise on Money (deutsch: Vom Gelde) .) Die beiden sind jedoch aquivalent, weil die Investitionen die Ersparnis aus 'Paktoreinkommen' Ubersteigen mUssen, da- mit die Gewinne positiv sind. Keynes' Darstellungsweise in Kapitel 3 der General Theory nahm keinen expliziten Bezug auf die wichtige Rolle, die Gewinne als Anreiz und als Restquelle der Pinanzierung (oder) Ersparnis fUr Investi- tionen spielen. (3) General Theory, Preface, p. viii (4) VgI. Jukka Pekkarinen, On the Generality of Keynesian Economics, Helsinki, 1979, p. 112. (5) Der Cambridger Tradition folgend, schrieb Keynes die Glei- chung so, daB sie die Gleichheit der Nachfrage Geld zu hal- ten mit dem verfUgbaren Angebot zeigt: M = L (PY, r).