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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.
Being Happy is something everybody would like to experience as part
of their everyday life. But for many, happiness is difficult to
find and even harder to hold on to. There are many reasons why we
might feel low, unhappy or depressed and the thought of being happy
every day seems beyond our reach. But this book can change that.
Inside you will find explanations of why you may be feeling down
and then quick and easy ways to stop these negative feelings and
replace them with more positive ones. Your whole outlook on life
can change in only a couple of hours. Happiness is within the grasp
of every one of us. It is not magic. Understand what is behind your
feelings and then use the simple exercises to change them into new
more positive ways of leading your life. Our life is special. It is
only right that we should be able to enjoy every moment of it.
This is a book about secret London churches. That is to say that
their locations are not secret and each of them in this book has
directions to the nearest Tube station if you wish to visit them.
But they are not the famous London Cathedrals. Within these pages
you will not find St. Paul's Cathedral, Westminster Abbey,
Southwark Cathedral, Westminster Cathedral and others. But you will
find a wealth of smaller and larger churches around Central London
and in particular, the City of London. Each of them has something
interesting to tell us, whether it is some unusual piece of history
attached to it or the final resting place of someone famous. There
are also photographs illustrating each of the churches featured
here. London has a colourful history stretching back over two
thousand years and our stories will cover the Roman occupation, the
Saxons, the Great Fire of London, the Great Plague and the Blitz.
Throughout all these periods these churches were not only places of
worship but were also witness to events and to the people who lived
during these times. They were baptised, married and buried at these
sites. Churches are constant witnesses to our history. We walk by
them without much more than a glance. I hope that by the end of
this book you will appreciate the secrets they are only too willing
to give up if we only take the time to look. Fully illustrated.
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