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Since 1941 the Medal of Honor has been more often awarded to dead
than to living men. Of all the medals issues by the United States
Government, this singular medal has had a particularly solemn glory
attached to its meaning. But a look at its history reveals that,
from its inception, it was steeped in controversy, with threats to
its integrity swirling in from all sides. Author John. J. Pullen,
during the course of research on the 20th Maine, came across an
obscure note indicating that the 27th Maine, a group of nine-month
volunteers from York Country, had been issued 864 Medals of
Honor-one for every member of the regiment-while the 20th main,
having distinguished itself at Little Round Top, garnered only four
such medals. Was this discovery the beginning of an untold story of
extraordinary bravery, or was it an outrageous blunder? Civil War
literature yielded nothing about this wholesale "shower of stars"
that had rained down upon the little-known regiment. And, as Pullen
tracked down its descendants, he f
Discovered in the estate of a distant nephew, and previously unpublished, this book is the second of two volumes comprising a collection of manuscripts by or relating to T.R. Malthus. The texts consist of correspondence, sermons, essays and lecture notes on political economy and history.
This volume comprises a collection of manuscripts by or relating to T.R. Malthus--recently discovered and previously unpublished--consisting of correspondence, sermons, essays and lecture notes on political economy and history. The manuscripts provide insights into Malthus' personal life--especially his relationships with his parents and his tutors, and also suggest hitherto unknown influences on his intellectual development. They represent a remarkable discovery, more than 150 years after Malthus' death.
The views of Thomas Robert Malthus (1766-1834) on population, first
published in his Essay on the Principle of Population, 1798,
continue to be hotly debated, either acclaimed or opposed, as do
his views on macroeconomics. There is a widely held view that his
macroeconomics lacks coherence and is merely a collection of
isolated jottings. This book challenges this view; it presents
textual evidence that Malthus's macroeconomics constitutes a
significant system of thought with considerable academic merit. It
reawakens debate about the relative merits of Malthus and Ricardo
as macroeconomists and contends that Malthus offers important
macroeconomic ideas and policy proposals relevant to modern
economic problems. It presents and analyses Malthus' ideas on
topics such as the determinants of aggregate economic growth; the
causes of general depression; the remedies for mass unemployment;
the balance between laissez-faire and government intervention; the
optimum division of expenditure between consumption, saving, and
investment; the distribution of income between wages, profits, and
rents; and the degree of economic inequality. Particular emphasis
is given to his view that the pattern of distribution of wealth
between the upper, lower, and middle classes is a major determinant
or factor in the production of wealth, and that continued economic
development depends on the growth of a large and affluent middle
class. The radical nature of some of his ideas and policy proposals
on the ownership and distribution of land is highlighted. An
extensive treatment of Say's Law, incorporating aspects of the
correspondence between Say and Malthus, addresses the question of
whether Malthus showed that Say's Law is merely a truism and lacks
any scientific relevance. The book also sheds new light on the
nature of the influence of Malthus on Keynes. This combination of a
search for textual authenticity and a critical assessment of the
views of commentators on Malthus will be of significant interest to
students and scholars of economic theory and the history of
economics.
The views of Thomas Robert Malthus (1766-1834) on population, first
published in his Essay on the Principle of Population, 1798,
continue to be hotly debated, either acclaimed or opposed, as do
his views on macroeconomics. There is a widely held view that his
macroeconomics lacks coherence and is merely a collection of
isolated jottings. This book challenges this view; it presents
textual evidence that Malthus's macroeconomics constitutes a
significant system of thought with considerable academic merit. It
reawakens debate about the relative merits of Malthus and Ricardo
as macroeconomists and contends that Malthus offers important
macroeconomic ideas and policy proposals relevant to modern
economic problems. It presents and analyses Malthus' ideas on
topics such as the determinants of aggregate economic growth; the
causes of general depression; the remedies for mass unemployment;
the balance between laissez-faire and government intervention; the
optimum division of expenditure between consumption, saving, and
investment; the distribution of income between wages, profits, and
rents; and the degree of economic inequality. Particular emphasis
is given to his view that the pattern of distribution of wealth
between the upper, lower, and middle classes is a major determinant
or factor in the production of wealth, and that continued economic
development depends on the growth of a large and affluent middle
class. The radical nature of some of his ideas and policy proposals
on the ownership and distribution of land is highlighted. An
extensive treatment of Say's Law, incorporating aspects of the
correspondence between Say and Malthus, addresses the question of
whether Malthus showed that Say's Law is merely a truism and lacks
any scientific relevance. The book also sheds new light on the
nature of the influence of Malthus on Keynes. This combination of a
search for textual authenticity and a critical assessment of the
views of commentators on Malthus will be of significant interest to
students and scholars of economic theory and the history of
economics.
The Marginal Productivity Theory of Distribution (MPTD) claims
that in a free-market economy the demand for a factor of production
will depend upon its marginal product where "marginal product" is
defined as the change in total product that is caused by, or that
follows, the addition or subtraction of the marginal unit of the
factor used in the production process, with all other inputs held
constant. From its inception in the early nineteenth century the
MPTD has been claimed by some economists to be a solution to the
ethical problem of distributive justice, i.e. to be a means of
determining fairness in wages, profits, interest and rent. Other
economists have rejected this ethical claim, but have seen the MPTD
as a valid demand-side criterion in the determination of
equilibrium and efficiency.
This book argues that the MPTD is valid, neither as a normative
theory of social justice, nor as a positive law of economics. It
suggests that economics is yet to develop a satisfactory theory of
distribution that is scientific in the quantitative or mathematical
sense. Through a survey of the origin and subsequent evolution of
the MPTD in the writings of over 50 contributors over 150 years,
John Pullen presents a critical history of the concept. The book
begins by examining the conceptual tools that have been deployed to
facilitate this analysis of past contributions to the MPTD and then
looks at various economists and their contribution to the debate
including its supporters such as Wicksteed, Marshall, Wicksell and
Stigler, and its critics such as Pareto, Hobson, Edgeworth,
Adriance and Cassel."
The Marginal Productivity Theory of Distribution (MPTD) claims
that in a free-market economy the demand for a factor of production
will depend upon its marginal product ? where "marginal product" is
defined as the change in total product that is caused by, or that
follows, the addition or subtraction of the marginal unit of the
factor used in the production process, with all other inputs held
constant. From its inception in the early nineteenth century the
MPTD has been claimed by some economists to be a solution to the
ethical problem of distributive justice, i.e. to be a means of
determining fairness in wages, profits, interest and rent. Other
economists have rejected this ethical claim, but have seen the MPTD
as a valid demand-side criterion in the determination of
equilibrium and efficiency.
This book argues that the MPTD is valid, neither as a normative
theory of social justice, nor as a positive law of economics. It
suggests that economics is yet to develop a satisfactory theory of
distribution that is scientific in the quantitative or mathematical
sense. Through a survey of the origin and subsequent evolution of
the MPTD in the writings of over 50 contributors over 150 years,
John Pullen presents a critical history of the concept. The book
begins by examining the conceptual tools that have been deployed to
facilitate this analysis of past contributions to the MPTD and then
looks at various economists and their contribution to the debate
including its supporters such as Wicksteed, Marshall, Wicksell and
Stigler, and its critics such as Pareto, Hobson, Edgeworth,
Adriance and Cassel.
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