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Tag Archives: History of Economics

David F. Ruccio — Economics and the new history of capitalism

An inconvenient truth — history. However, capitalism, alone or chiefly, cannot be blamed. Historical development is a dialectical process with many inputs and a variety of factors that "could have been different." But they weren't different for a variety of reasons, some economic, some social, and some political , that occurred with bourgeois liberalization. The transition away from monarchy and feudalism influenced historical events not only through individual choices but also shaped it...

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David Harvey — The value of money [excerpt]

Value is a social relation. As such, it is ‘immaterial but objective.’ The ‘phantom-like objectivity’ of value arises because ‘not an atom of matter enters into the objectivity of commodities as values’. Their status as values contrasts with ‘the coarsely sensuous objectivity of commodities as physical objects. We may twist and turn a single commodity as we wish; it remains impossible to grasp it as a thing possessing value.’ The value of commodities is, like many other features of social...

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Lars P. Syll — Galbraith’s History of Economic Thought

Some history if you have time this long Labor Day weekend in the US marking the end of summer and vacation season and the return to business as usual on Tuesday. So expect light posting over the weekend. Video series. Galbraith fully acknowledged the successes of the market system in economics but associated it with instability, inefficiency and social inequity. He advocated government policies and interventions to remedy these perceived faults. In his book Economics and the Public...

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Archives and the history of economic ideas

 For the archives, of course As it maybe be painfully clear by now, posts will remain relatively sparse during the rest of the summer break. I recently attended the History of Economics Society (HES) meetings at Duke University, as I noted here. I attended less sessions that I would have liked, but it was enough to confirm the increasing emphasis that has been accorded to archival research. That is, probably, the result that now, slightly more than a 100 years since the...

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