TAILIEUCHUNG - A Companion to the History of Economic Thought - Chapter 9

C H A P T E R N I N E Post-Ricardian British Economics, 1830–1870 Ours is a story that begins with hegemony, and continues with attack, defense, and defeat. The intellectual composition of classical economics by 1830 is complex, and it is not our intention to minimize substantive differences amongst | CHAPTER NINE Post-Ricardian British Economics 1830-1870 Sandra J. Peart and David M. Levy Introduction Ours is a story that begins with hegemony and continues with attack defense and defeat. The intellectual composition of classical economics by 1830 is complex and it is not our intention to minimize substantive differences amongst Adam Smith Thomas Robert Malthus David Ricardo Nassau William Senior John Stuart Mill or less well-known but nonetheless important contributors. Some of these will become apparent in what follows. Yet differences notwithstanding by 1830 the analytics of classical growth distribution and value theories were well-developed reflecting a preoccupation with land scarcity and diminishing returns and formulated with the problem of population growth in mind. We choose to focus on what united the economists of the time to help clarify what separated them from their critics. Between 1830 and 1870 classical analytic machinery its methodological underpinning abstraction and the policy recommendations that flowed from the analytics came under fire from many directions the literary community the anthropological and biological sciences that produced eugenics and within the economics community itself. To a large extent the controversy surrounding post-Ricardian economics occurred over the presumption of equal competence or homogeneity. On the side of homogeneity we locate the great classical economists who presumed that economic agents are all equipped with a capacity for language and trade and observed outcomes are explained by incentives luck and history. In opposition we find many progressives Thomas Carlyle John Ruskin Charles Dickens Post-Ricardian British Economics 1830-1870 131 and Charles Kingsley whose explanation for the observed heterogeneity of custom and behavior was race. In our period the notion of race is rather ill defined but the argument played out both in terms of the Irish and the former slaves in Jamaica Curtis 1997 . In .

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