Although modern neoliberalism was born at the "Colloque Walter Lippmann" in 1938, it only came into its own with the founding of the Mont Pelerin Society, a partisan "thought collective," in Vevey, Switzerland, in 1947. Its original membership was made up of transnational economists and intellectuals, including Friedrich Hayek, Milton Friedman, George Stigler, Karl Popper, Michael Polanyi, and Luigi Einaudi. From this small beginning, their ideas spread throughout the world, fostering, among other things, the political platforms of Margaret Thatcher and Ronald Reagan and the Washington Consensus. The Road from Mont Pelerin presents the key debates and conflicts that occurred among neoliberal scholars and their political and corporate allies regarding trade unions, development economics, antitrust policies, and the influence of philanthropy. The book captures the depth and complexity of the neoliberal "thought collective" while examining the numerous ways that neoliberal discourse has come to shape the global economy. "The Road from Mont Pelerin is indispensable for anyone wishing to gain an understanding of neoliberalism, whether as an end in itself or as a means for constructing alternative, non-neoliberal futures." -Daniel Kinderman, Critical Policy Studies "If you work on post-war history of economics, there is almost no reason not to read this book." -Ross B. Emmett, Journal of the History of Economic Thought

Originally published over two decades ago, this classic text within the philosophy of economics is a tour de force against revealed preference. It critically examines the research programme carried out by the Nobel Prize winner Paul Samuelson on the revealed preference approach to the theory of consumer behaviour. It also challenges two essential premises:

* that the programme has been completed
* that the various contributions of Samuelson are mutually consistent.

This text contains a new preface by Wong, in which he provides a detailed insight into the origins of his pioneering text, and a new introduction from Philip Mirowski, analyzing the impact The Foundation of Paul Samuelson's Revealed Preference Theory has had on the discipline of economics as well as explaining why it remains core reading for economists today.

The defining statement of economic method, this book will be of interest to economists everywhere.

Series Information:
Routledge INEM Advances in Economic Methodology

A leading scholar of the history and philosophy of economic thought, Philip Mirowski argues that there has been a top-to-bottom transformation in how scientific research is organized and funded in Western countries over the past two decades and that these changes necessitate a reexamination of the ways that science and economics interact. Mirowski insists on the need to bring together the insights of economics, science studies, and the philosophy of science in order to understand how and why particular research programs get stabilized through interdisciplinary appropriation, controlled attributions of error, and funding restrictions. Mirowski contends that neoclassical economists have persistently presumed and advanced an "effortless economy of science," a misleading model of a self-sufficient and conceptually self-referential social structure that transcends market operations in pursuit of absolute truth. In the stunning essays collected here, he presents a radical critique of the ways that neoclassical economics is used to support, explain, and legitimate the current social practices underlying the funding and selection of "successful" science projects. He questions a host of theories, including the portraits of science put forth by Karl Popper, Michael Polanyi, and Thomas Kuhn. Among the many topics he examines are the social stabilization of quantitative measurement, the repressed history of econometrics, and the social construction of the laws of supply and demand and their putative opposite, the gift economy. In The Effortless Economy of Science? Mirowski moves beyond grand abstractions about science, truth, and democracy in order to begin to talk about the way science is lived and practiced today.

Thornton's writings are central to the history of the "Laws of Supply and Demand" and seminal in understanding the rise of neoclassical economics. Thornton has been cast as a minor player in John Stuart Mill's recantation of the wages fund doctrine. This text should show how he played a major role.

Thornton's writings are central to the history of the "Laws of Supply and Demand" and seminal in understanding the rise of neoclassical economics. Thornton has been cast as a minor player in John Stuart Mill's recantation of the wages fund doctrine. This text should show how he played a major role.

Thornton's writings are central to the history of the "Laws of Supply and Demand" and seminal in understanding the rise of neoclassical economics. Thornton has been cast as a minor player in John Stuart Mill's recantation of the wages fund doctrine. This text should show how he played a major role.

Thornton's writings are central to the history of the "Laws of Supply and Demand" and seminal in understanding the rise of neoclassical economics. Thornton has been cast as a minor player in John Stuart Mill's recantation of the wages fund doctrine. This text should show how he played a major role.

Thornton's writings are central to the history of the "Laws of Supply and Demand" and seminal in understanding the rise of neoclassical economics. Thornton has been cast as a minor player in John Stuart Mill's recantation of the wages fund doctrine. This text should show how he played a major role.

The writings of William Thornton are central to the history of the Laws of Supply and Demand and seminal in understanding the rise of neoclassical economics. Thornton has previously been cast as a minor player in John Stuart Mill's recantation of the wages fund doctrine. This event is discussed by Schumpeter in A History of Economic Analysis and Samuel Hollander in The Economics of John Stuart Mill.

This collection of interdisciplinary essays is the first to investigate how images in the history of the natural and physical sciences have been used to shape the history of economic thought. It documents the extent to which scholars have drawn on physical and natural science to ground economic ideas and evaluate the role and importance of metaphors in the structure and content of economic thought. These range from Aristotle's discussion of the division of labor, to Marshall's evocation of population biology, to Hayek's dependence upon evolutionary concepts, and more recently to neoclassical economists' invocation of chaos theory.

This is the first cross-over book in the history of science written by an historian of economics, combining a number of disciplinary and stylistic orientations. In it Philip Mirowshki shows how what is conventionally thought to be "history of technology" can be integrated with the history of economic ideas. His analysis combines Cold War history with the history of the postwar economics profession in America and later elsewhere, revealing that the Pax Americana had much to do with the content of such abstruse and formal doctrines such as linear programming and game theory. He links the literature on "cyborg science" found in science studies to economics, an element missing in the literature to date. Mirowski further calls into question the idea that economics has been immune to postmodern currents found in the larger culture, arguing that neoclassical economics has surreptitiously participated in the desconstruction of the integral "Self." Finally, he argues for a different style of economics, an alliance of computational and institutional themes, and challenges the widespread impression that there is nothing else besides American neoclassical economic theory left standing after the demise of Marxism. Philip Mirowski is Carl Koch Professor of Economics and the History and Philosophy of Science, University of Notre Dame. He teaches in both the economics and science studies communities and has written frequently for academic journals. He is also the author of More Heat than Light (Cambridge, 1992) and editor of Natural Images in Economics (Cambridge, 1994) and Science Bought and Sold (University of Chicago, 2001).

Latin American Constitutions provides a comprehensive historical study of constitutionalism in Latin America from the independence period to the present, focusing on the Constitution of Cadiz, a foundational document in Latin American constitutionalism. Although drafted in Spain, it was applied in many regions of Latin America, and deputies from America formed a significant part of the drafting body. The politicization of constitutionalism reflected in Latin America's first moments proved to be a lasting legacy evident in the legal and constitutional world of the region today: many of Latin America's present challenges to establishing effective constitutionalism can be traced to the debates, ideas, structures, and assumptions of this text. This book explores the region's attempts to create effective constitutional texts and regimes in light of an established practice of linking constitutions to political goals and places important constitutional thinkers and regional constitutions, such as the Mexican Constitution of 1917, into their legal and historical context.

Over the past forty years, economists associated with the University of Chicago have won more than one-third of the Nobel prizes awarded in their discipline and have been major influences on American public policy. Building Chicago Economics presents the first collective attempt by social science historians to chart the rise and development of the Chicago School during the decades that followed the Second World War. Drawing on new research in published and archival sources, contributors examine the people, institutions and ideas that established the foundations for the success of Chicago economics and thereby positioned it as a powerful and controversial force in American political and intellectual life.

Over the past forty years, economists associated with the University of Chicago have won more than one-third of the Nobel prizes awarded in their discipline and have been major influences on American public policy. Building Chicago Economics presents the first collective attempt by social science historians to chart the rise and development of the Chicago School during the decades that followed the Second World War. Drawing on new research in published and archival sources, contributors examine the people, institutions, and ideas that established the foundations for the success of Chicago economics and thereby positioned it as a powerful and controversial force in American political and intellectual life.

This collection of interdisciplinary essays is the first to investigate how images in the history of the natural and physical sciences have been used to shape the history of economic thought. It documents the extent to which scholars have drawn on physical and natural science to ground economic ideas and evaluate the role and importance of metaphors in the structure and content of economic thought. These range from Aristotle's discussion of the division of labor, to Marshall's evocation of population biology, to Hayek's dependence upon evolutionary concepts, and more recently to neoclassical economists' invocation of chaos theory.

This is a history of how physics has drawn some inspiration from economics and how economics has sought to emulate physics, especially with regard to the theory of value. The author traces the development of the energy concept in Western physics and its subsequent effect on the invention and promulgation of neoclassical economics, the modern orthodox theory.

Information is a central concept in economics, and The Knowledge We Have Lost in Information explores its treatment in modern economics. The study of information, far from offering enlightenment, resulted in all matter of confusion for economists and the public. Philip Mirowski and Edward Nik-Khah argue that the conventional wisdom suggesting "economic rationality" was the core of modern economics is incomplete. In this trenchant investigation, they demonstrate that the history of modern microeconomics is better organized as a history of the treatment of information. The book begins with a brief primer on information, and then shows how economists have responded over time to successive developments on the concept of information in the natural sciences. Mirowski and Nik-Khah detail various intellectual battles that were fought to define, analyze, and employ information in economics. As these debates developed, economists progressively moved away from pure agent conscious self-awareness as a non-negotiable desideratum of economic models toward a focus on markets and their design as information processors. This has led to a number of policies, foremost among them: auction design of resources like the electromagnetic spectrum crucial to modern communications. The Knowledge We Have Lost in Information provides insight into the interface between disputes within the economics discipline and the increasing role of information in contemporary society. Mirowski and Nik-Shah examine how this intersection contributed to the dominance of neoliberal approaches to economics, politics, and other realms.

This trenchant study analyzes the rise and decline in the quality and format of science in America since World War II. During the Cold War, the U.S. government amply funded basic research in science and medicine. Starting in the 1980s, however, this support began to decline and for-profit corporations became the largest funders of research. Philip Mirowski argues that a powerful neoliberal ideology promoted a radically different view of knowledge and discovery: the fruits of scientific investigation are not a public good that should be freely available to all, but are commodities that could be monetized. Consequently, patent and intellectual property laws were greatly strengthened, universities demanded patents on the discoveries of their faculty, information sharing among researchers was impeded, and the line between universities and corporations began to blur. At the same time, corporations shed their in-house research laboratories, contracting with independent firms both in the States and abroad to supply new products. Among such firms were AT&T and IBM, whose outstanding research laboratories during much of the twentieth century produced Nobel Prize-winning work in chemistry and physics, ranging from the transistor to superconductivity. Science-Mart offers a provocative, learned, and timely critique, of interest to anyone concerned that American science-once the envy of the world-must be more than just another way to make money.

This is the first cross-over book in the history of science written by an historian of economics, combining a number of disciplinary and stylistic orientations. In it Philip Mirowshki shows how what is conventionally thought to be "history of technology" can be integrated with the history of economic ideas. His analysis combines Cold War history with the history of the postwar economics profession in America and later elsewhere, revealing that the Pax Americana had much to do with the content of such abstruse and formal doctrines such as linear programming and game theory. He links the literature on "cyborg science" found in science studies to economics, an element missing in the literature to date. Mirowski further calls into question the idea that economics has been immune to postmodern currents found in the larger culture, arguing that neoclassical economics has surreptitiously participated in the desconstruction of the integral "Self." Finally, he argues for a different style of economics, an alliance of computational and institutional themes, and challenges the widespread impression that there is nothing else besides American neoclassical economic theory left standing after the demise of Marxism. Philip Mirowski is Carl Koch Professor of Economics and the History and Philosophy of Science, University of Notre Dame. He teaches in both the economics and science studies communities and has written frequently for academic journals. He is also the author of More Heat than Light (Cambridge, 1992) and editor of Natural Images in Economics (Cambridge, 1994) and Science Bought and Sold (University of Chicago, 2001).

A media theory of markets Markets abound in media-but a media theory of markets is still emerging. Anthropology offers media archaeologies of markets, and the sociology of markets and finance unravels how contemporary financial markets have witnessed a media technological arms race. Building on such work, this volume brings together key thinkers of economic studies with German media theory, describes the central role of the media specificity of markets in new detail and inflects them in three distinct ways. Nik-Khah and Mirowski show how the denigration of human cognition and the concomitant faith in computation prevalent in contemporary market-design practices rely on neoliberal conceptions of information in markets. Schroeter confronts the asymmetries and abstractions that characterize money as a medium and explores the absence of money in media. Beverungen situates these inflections and gathers further elements for a politically and historically attuned media theory of markets concerned with contemporary phenomena such as high-frequency trading and cryptocurrencies.

At the onset of the Great Recession, as house prices sank and joblessness soared, many commentators thought that neoliberalism itself was in its death throes. And yet it seems that-post-apocalypse-we've awoken into a second nightmare more ghastly than the first: a political class still blaming government intervention, a global drive for austerity, stagflation, and exploding sovereign debt crises. Philip Mirowski argues that, as in classic studies of cognitive dissonance, neoliberal thought has become so pervasive that any countervailing evidence serves only to further convince disciples of its ultimate truth. Once neoliberalism became a Theory of Everything-a revolutionary account of self, knowledge, information, markets, and government-it could no longer be falsified by mere data from the 'real' economy. In this sharp, witty and deeply informed account-taking no prisoners in his pursuit of 'zombie' economists-Mirowski surveys the wreckage of what passes for economic thought, and finally provides the basis for an anti-neoliberal account of the current crisis and our future prospects.