Index of Names

Aftalion, A., ‘La Realite des Surproductions generales’ (1908-09) 243

Agassi, J., institutional individualism 393

Aghion and Howitt, endogenous growth and 437

Agrippa, M.

‘The Market for Lemons’ (1970) 402 Alchian, A. ‘Uncertainty, Evolution and Economic Theory’ (1950) 421 Alchian and Demsetz,

‘Production, Information Costs and Economic Organization’ (1972) 481-2

‘Property Rights Paradigm,

The’ (1972) 482

Allais, M. 389

A la recherche d'une discipline economique: Premiere partie: L'Economie pure (1943) 382

Economie et interet (1947) 382

stability of the tatonnement process and 385

Allen, R. 226, 284-6, 292

Anderson, J. 1, 83, 93

Andrews, P.W.S. 280

Manufacturing Business (1949) 361 Aquinas, Thomas 19, 21, 30-1 Aristotle 19, 29-30, 189, 514 Arrow, Block and Hurwicz, ‘On the

Stability of Competitive Equilibrium II’ 385

Arrow and Debreu, existence problem and 386

Arrow and Hahn, General Competitive Analysis (1971) 383, 394

Arrow and Hurwicz, ‘On the Stability of Competitive Equilibrium I’ (1958) 385

Arrow, K. 279, 298, 386, 388, 394,

402, 435, 438

impossibility theorem 405, 465

no social-choice function capable of satisfying requirements of coherence and morality 406

ordinalist choice 406-7 work on learning by doing 436 works,

‘An Extension of the Basic Theorems of Classical Welfare Economics’ 381 Collective Choice and Individual

Values 404

Social Choice and Individual Values 397

Arthur, B. 492, 495

Atkinson, A. Economic Consequences of Rolling Back the Welfare State (1999) 410

Aumann and Kurz, ‘Power and Taxes’ (1977) 432

Axelrod, R.,

prisoner’s dilemma and 435

works,

Complexity of Cooperation (1997) 434 Evolution of Cooperation (1984) 431 Ayres, C.E. 304-5, 488

Bacon, Roger 29, 31, 45

Bailey, S.

Bain, J. 360

Barriers to New Competition (1956) 417

Baran, P.A 298, 446, 448

Theory of economic surplus, tendency of potential surplus to grow 447 work, Political Economy of Growth

(1957) 447

Baran and Sweezy, Monopoly Capital (1966) 447

Barone, E 187, 197, 205, 227-8 Mathematical element in 229 works,

collaborated with Pantaleoni and

Pareto on Giornale degli

Economisti 227

‘Il ministro della produzione nello stato collettivista’ (1908) 227

Bastiat, F. 2, 166, 168, 176

social harmony (1850s and 1860s) and 12, 112

Baumol, W. 326, 331, 494

Business Behaviour, Value and Growth (1959) 418

Beccaria, C. 1, 59, 62-3, 83, 166

Bentham, J. 63, 75, 77, 173, 188, 191, 208, 480

utilitarianism and 83-5, 114, 166, 224, 226 value in use value rather than cost of production 85

welfare economics and theory of voting and 404-5

work, Introduction to the Principles of Morals and Legislation (1789) 84 Bergson, A. 405

‘Reformulation of Certain Aspects of Welfare Economics’ (1937-8) 397 Binmore, K. 404

evolutionary games and 433

‘Modeling Rational Players’ (1987) 431 Blaug, Economic Theory in Retrospect 6 Bohm-Bawerk, E. 2, 164, 171, 190, 197, 214-15

theory of capital and interest 219, 248 works,

Geschichte und Kritik der Kapitalzinstheorie (1884) 215, 219

Positive Theorie des Kapitales (1889) 215

Zum Abschluss des Marxischen

Systems 215

Boisguillebert, P. de Le Pesant 44, 50,

57, 168

sketch of tableau economic 51

work, Dissertation sur la nature des richesses, de !argent, et des tributs (1712) 49

Bordiga, A., Struttura economica e sociale della Russia d'oggi (1957) 449 Bortkiewicz, L. von 309-11, 437

problem of transformation 315-16 Botero, G. 36, 82

Boulding, K. 351, 485, 489

‘widow’s cruse’ parable 489 Bowles and Gintis, cautious sympathy

and critical detachment to

Marxism 507

Braverman, H., Labour and Monopoly Capital (1974) 451

Buchanan, J. 476

Limits of Liberty: Between Anarchy and Leviathan (1975) 479

Buchanan and Tullock, public choice School and 478

Buchanan and Tullock, Calculus of Consent (1962) 479

Buridan, Jean, value of goods at what they really are 31-2

Cairnes, J.

Cannan, E. 32, 100

Cantillon, R. 40-1, 44-5, 50-1, 82

Essai sur la nature du commerce en general (1755) 39, 44

Cassel, G. 3, 164, 223, 240, 311

Theoretische Sozialoekonomie (1918) 223, 240-1

Chamberlin, E. 280

difficulties with his model 274

dilemma posed by decreasing costs 274 equilibrium of single firm and the sector 273

imperfect competition 279 works,

‘Capitalism and Monopolistic Competition’ (1950) 276

Theory of Monopolistic Competition (1933) 273, 275

Champernowne, D. 440-1

Chandler, A., The Visible hand: The managerial Revolution in the American Economy (1977) 417

Charasoff, Georg von 437 reformulation of Critique of Political

Economy 310

Charles III of Bourbon (1734-59), civil economy theoretical system 59

Chayanov, A. V. 311, 314

Child, J., worried about demographical problem and wages 37-8

Clark, J. B. 2, 197

capital should not be confused with capital goods 212

marginal-productivity theory 205, 209-12, 220 principle of efficiency and principle of equity 211

rents the returns on existing capital goods including land 212

state intervention to reduce power of industrialists 210

works,

Distribution of Wealth, The 165,211

PhilosophyofWealth, The (1886) 210

Cliff, T. 449

State Capitalism in Russia 450

Clower, R. W. 346-8

Coase, R. H. 81

initial allocation of ownership rights irrelevant for efficiency 404

‘Nature of the Firm’ (1937) 415, 480 ‘Problem of Social Cost’ (1960) 403

Cohen, G. A., exploitation and socialism presuppose self-ownership axiom 504

Karl Marx's Theory of History: A Defence (1978) 504

Self-Ownership, Freedom and Equality (1995) 503

Colbert, J. B. 35, 42

Commons, J. R. 304, 484, 488

emphasized positive aspects of American economy 307

laws and customs are working rules’ 307 ‘rationing transactions’ 306-7 works,

Institutional Economics (1934) 306

Legal Foundations of Capitalism (1924) 306

Condillac, E.B. 1, 58, 86

Condorcet 405-6

Cooper, R., economic theory of interdependence 457

Copernicus, N.

Cournot, A. 1, 102, 104, 166, 168, 170, 187, 223

loi du debit 105-6

notion of marginal revenue 275 theory of perfectly competitive equilibrium 200

work, Recherches sur les principes mathematiques de la theorie des richesses (1838) 105

Cyert, R and March, J., Behavioural Theory of the Firm (1963) 420

Dantzig, G. B. 313

Programming in a Linear Structure (1948) 438

Dasgupta, P. 6, 404

‘Positive Freedom, Markets and the Welfare State (1986) 399

Davanzati, B. 10, 38, 42, 60

David, P. 492-3

Debreu, G. 208, 281, 389, 470

‘Bourbaki’ group and general-equilibrium model 389

‘Coefficient of Resource Utilization’ 381 model 382-3

notion of ‘regular economy’ 387 uncertainty 383-4

work, Theory of Value (1959) 381-2, 386

Demsetz, H., Economic, legal and Political Dimensions of Competition (1982) 481-2

Deneckere and Judd, chaos and 495

Descartes, R. 29, 55, 389, 498

Diggers of Everard and Winstanley 135 Dillard, D. 485

institutionalist school of Maryland 488

Dmitriev, V. K. 437 focused attention on Ricardo 309 work, Economic Essays on Value, Competition and Utility 309

Dobb, M. H. 298

Political Economy and Capitalism (1937) 315, 448

Studies in the Development of Capitalism (1946) 448

Domar, E. D., appreciated Feldman’s work 315 work, Essays in the Theory of Economic Growth (1957) 243

Doni, A.F., ‘wise and mad world’ 135

Dreze, J.H.J.M.E. 348-9

Dubey and Shubik, ‘Theory of Money and Financial Institutions’ (1987) 432

Duesenberry, J.S. 326 ‘relative income’ hypothesis developed by 329

Dunayevskaya, R.,

focused on labour exploitation in Soviet Union 449

Marxist-Humanist Theory of State-Capitalism (1992) 449

Dupuit, J. 1, 102, 168, 170

De l'utilite et sa mesure (1844) 106-7

Edgeworth, F. Y. 2, 164, 187, 197, 207 analysis of indifference curves 286 egoism 463, 465

Eichner, A. S. 360

Megacorp and Oligopoly (1976) 417

Elster, J. 503 rational choice and 506 works, making Sense of Marx (1985) 505 ‘Marxism, Functionalism and Game Theory’ (1982) 504-5

Empoli, F.

Engels, F. 137, 142

Erasmus of Rotterdam 24

Fawcett, H. 2, 112

Fechner, G. T. 209, 224

Feldman, G.A., anticipated some aspects of Harrod-Domar model of warranted growth 315

Ferrara, F. 10, 112-13, 168, 229 Filangeri, G. 59, 62 Fisher, F. M. 347

Disequilibrium Foundations of Equilibrium Economics (1983) 395

Fisher, I. 2, 197, 209, 236, 260-1, 359 alternative explanation of Great Depression 214 15

capital and 213 inter-temporal choice and quantity theory of money 212-15

inventor of index numbers and pioneer of econometrics 212

level of prices and equation of exchanges 234 5

marginal productivity of waiting 219 theory of ‘debt deflation’ 214 theory of general equilibrium 213 theory of individual savings 214 works,

Appreciation of Interest (1896) 213 Mathematical Investigations in the Theory of Value and Prices 213, 225 Nature of Capital and Income (1906) 213 Purchasing Power of Money, The 214 Rate of Interest, The (1907) 213 Theory of Interest, The (1930) 213 Foster, J. F. 484-7

Fourier, F.-M.-C. 2, 134, 136

Nouveau monde amoureux, Le 137

Friedman, M. 214, 335, 420 arguments against Keynesian neoclassical system caused heated debates 339 ‘monetary multiplier’ 336 natural rate of unemployment 341 rate of variation of money supply occurs in cycles similar to those of income 358 role played by expectations in the frustration of economic policy 340 works,

Capitalism and Freedom 412 Optimum Quantity of Money (1969) 336

‘Quantity Theory of Money: A Restatement’(1956) 336

‘Role of Monetary Policy’ (1968) 337 Theory of Consumption Function (1957) 330

Friedman and Meiselman, ‘Relative Stability of Monetary Velocity and the Investment Multiplier in the United States (1897-1958)’ (1963) 336

Friedman and Schwartz, Monetary History of the United States (1861-1960) (1963) 337

Frisch, R. 216, 310, 380, 382

Galbraith, J. K. 307, 485, 490

Works,

Affluent Society, The (1958) 485 American Capitalism (1961) 485 Anatomy of Power (1983) 486 Economic and Public Purpose (1973) 486 Nature of Mass Poverty (1979) 486 New Industrial State, The (1967) 485 Galiani, G.

Della Moneta (1751) 59

Dialogues sur le commerce des bleds (1768) 59, 61

Galilei, G. 29, 42

Gardiner, J., socialist feminism 510

Garegnani, P.,

‘Heterogeneous Capital, the production Function and the Theory of Distribution’ (1970) 441

Il capitale nelle teorie della distribuzione (1960) 441

‘Note su consumi, investimenti e domanda effettiva’ (1965-5) 352

Geanakoplos and Polemarchakis, Existence, Regularity and Constrained Suboptimality of Competitive Allocations when Asset market is Incomplete 478

Genovesi, A. 1, 59

treatise Lezioni di eonomia civile (Lectures on Civil Economy) 59

Gentz, 109-10

Georgescu-Roegen, N. 438, 466, 469-71, 490 ‘fourth law of thermodynamics’ 471 non-substitution theorem 471

‘ordinalist fallacy’ in neoclassical consumer theory 470

works,

Analytical Economics: Issues and Problems 471

Choice, Expectations and Measurability’ (1954) 469-70

Energy and Economic Myths (1976) 471

Entropy Law and the Economic Process, The (1917) 471

introduction to Gossen’s famous book (1983) 471

‘Pure Theory of Consumer Behaviour, The’ (1936) 469-70

‘Relaxation Phenomena in Linear Dynamic Models (1951) 471

Gibbs, G. W. 212-13

Godwin, W. 82

Enquiry Concerning Political Justice (1793) 139

Goethe, Faust story 498-9

Goodwin, R. M. 466, 473-5

used Volterra’s equations to formalize Marx’s cycle theory 474 works

‘Dynamical Coupling with Special Reference to Markets having Production Lags’ (1947) 474 ‘Economia matematica: Una visione personale’ (1988) 232

Essays in Linear Economics (1983) 473 ‘Growth Cycle’ (1967) 474 ‘Innovation and Irregularity of

Economic Cycles’ (1946) 474 ‘Multiplier as a Matrix’ (1949) 474 ‘Non Linear Accelerator and the

Persistence of the Business Cycle’ (1951) 473

preface to Essays in Economic Dynamics 473

‘Static and Dynamic General Equilibrium Models’ (1953) 474 Gordon, D. F. 4, 368

Gorman, W. M., paradox of compensation tests 295, 470

Gossen, H. H. 75, 102, 108, 166, 168 Entwicklung der Gesetze des menschlichen Verkehrs, und der daraus fliessenden Regeln fur menschliches Handeln (1854) 107, 172

First Law, law of decreasing marginal 224, 287

Grandmont, J.-M. 348, 392

use of Hicks’s temporary-equilibrium 395 work, ‘Temporary General Equilibrium’ (1977) 394

Gray, J. 140, 366

Graziani, A. Theory of Monetary Circuit, The (1989) 501

Greenwald, B. C. 370, 373

Gresham, Thomas,

discovery (1857) 33-4 formulated law in letter to Queen Elizabeth I 34

Grossman and Hart, ‘Takeover Bids, the Free-Rider Problem and the Theory of the Corporation’ (1980) 419

Gruchy, A. 301, 307, 485, 487

favoured social-democratic planning as in Scandinavia 487

Hahn, F. 347, 383, 385, 388, 394, 415

Equilibrium and Macroeconomics (1985) 395

money, Growth and Stability (1985) 395

Hale, R. L., new discipline of law and economics 304 5, 488

Hall and Hitch,

prices determined tend to remain stable 416

serious criticism of marginalism 415, 421 work, Price Theory and Business Behaviour (1939) 361, 414

Hamilton, W. H. 207, 304-5, 485 critic of laisser faire 306 institutionalism and American Economic

Association 306

The New Deal and 484

Work, Institutional Approach to Economic Theory (1918) 484

Hardin, G. ‘The Tragedy of the Commons’ (1968) 401

Harding, Sandra 511

Harris, Joseph 40

Harrod, R. F. 274, 405, 415

Works,

Essay on Dynamic Theory, An 243 Foundations of Inductive Logic (1956) 244-5

‘Utilitarianism Revised’ (1936) 396

Harsanyi, J. 407

Bayesian games’ 430

‘Games of Incomplete Information Played by Bayesian Players’ (1967-8) 429

Rational Behaviour and Bargaining Equilibrium (1977) 396

‘Tracing Procedure’ (1975) 429

Harsanyi, J and Selten, R., General Theory of Equilibrium Selection in Games (1988) 433

Hawtrey, R. 242

CriticismofKeynes 251

Good and Bad Trade 247

version of Treasury view 247-8

Hayek, F. A. von 217, 227, 236, 248, 285, 476 foundation of ‘Mont Peierin Society’ (1947) 498

general-equilibrium model to dynamic analysis of cyclical fluctuations 284 inter-temporal equilibrium 238 market as a spontaneous order 497 rejected ‘rationalist constructivism’ 498 reproposed article written by von Mises (1920) 296

theory of procedural justice 411, 499 works,

Constitution of Liberty (1960) 412 ‘Economics and Knowledge’ (1937) 299, 496

Law, Legislation and Liberty (1973-9) 497

Prices and Production (1931) 284-5

Pure Theory of Capital, The (1941) 216-17

Road to Serfdom, The (1944) 496 ‘Socialist Calculation: The Competitive Solution’ (1940) 298

Studies in Philosophy, Politics and Economics (1967) 499

Hicks and Allen,

Occam’s razor, marginal utility replaced by marginal rate of substitution 293

‘A Reconsideration of the Theory of Value’ (1934) 286-7

Hicks, J. 226, 237, 284, 331, 415, 441 compensation tests 293 dynamic theory in which ‘each variable must be dated’ 288

fix-price model laid basis of new Keynesian macroeconomics of (1980s) 363 fundamental ingredients that allowed him to stop counting equations 287 ordinalism and 292

reduced Keynes General Theory to four equations 289-91

temporary equilibria 288, 394

warning to student about proofs of existence (1969) 391

welfare economics and 397

works,

Capital and Growth (1965) 363

Capital and Time (1973) 216, 363

Crisis in Keynesian Economics

(1974) 363

Market Theory of Money (1989) 363 ‘Mr Keynes and the Classics’

(1937) 289, 325

Revision of Demand Theory (1956) 286 Theory of Wages (1932) 363 Value and Capital (1939) 223, 285,

286-7, 289, 380

Hildebrand, B. 110, 190, 392 Hilferding, R.,

fundamental structure in capitalism

of belle epoque 314 DasFinanzkapital (1910) 313 Hirschman, A. O. 401, 466, 472-3 works

‘Against Parsimony: Three Easy Ways of Complicating Some Categories of Economic Discourse’ (1984) 473

Bias for Hope: Essays in Development and

Latin America (1971) 472 Essays in Trespassing: Economics to

PoliticsandBeyond (1981) 473

Exit, Voice and Loyalty: Responses to Decline in Firms, Organizations and States (1970) 473

Journey toward progress (1963) 472 National Power and the Structure of

Foreign Trade (1945) 472

Passions and the Interests, The

(1977) 472

Shifting Involvements (1982) 473

Strategy of Economic Development

(1958) 472

Hobbes, T. 66, 411

Leviathan 67

Hobsbawn, E., ‘Age of Capital’

(1850-1870) 111-12

Hobson, J. A. 9, 239, 250

Economics of Unemployment,

The (1922) 239

Hodgskin, T. 1, 140-1, 150-1 Hodgson, G. M. 491, 487

Hume, D. 1, 41, 63-4, 67, 74 theory of price-specie-flow mechanism

and 122, 128

Political Discourses (1752) 40, 63 Hurwicz, L. 298, 385

Design of Mechanisms for Resource

Allocations 478

Hutcheson, 67, 74

Jannaccone, P. ‘Il “paretaio” 229 Jennings, Anne J., analysis and critique,

Veblen’s ‘pecuniary culture’ 512

Jensen and Meckling., ‘Theory of the Firm: managerial Behaviour, Agency Costs and ownership Structure’ (1976) 419

Jevons, W. S. 2, 75, 168-72, 187, 198, 207, 213, 229

anti-Ricardian tradition and 171 attitude to trade unions 175-6 defeated Ricardo 10

English historical economics 179-80 law of decreasing returns 174-5, 177 logical calculus in economics 173-6 theory of capital 120 theory of exchange in 174 theory of labour supply 176-7 ‘toil and trouble’ of labour 75 utility theory of value 166, 174, 219 wages and labour, interest and capital 176-9

works

Methods of Social Reform (1883) 175 Principles of Science (1874) 173 State in Relation to Labour (1882) 175 Theory of Political Economy (1871) 164, 169, 176, 178

Johannsen, Nicolaus A. L. J., ‘Multiplizirende 'Prinzip^, 242

Jones, R. 1, 115, 141-2, 180

criticized Ricardo for deductive and a prior reasoning 142

Joplin, T. 125

Kahn, R. F. 218, 242, 251, 276, 351, 361 ‘Problem of Duopoly’ (1937) 415 ‘Relation of Home Investment to

Unemployment, The’ 242

Kaldor, N. 284-5, 293, 351, 435, 490 argument on ‘The Equilibrium of the Firm’ 416

constant capital-out ratio 356 increasing returns and technical progress 492

preferred Keynesian version of widow’s cruse theorem 355 technical-progress function invented by 357

welfare economics 397 works

‘Alternative Theories of Distribution’

(1956) 355

‘New Model of Economic Growth’

(1962) with Mirlees, J.A. 355

‘New Monetarism’ (1970) 359 Kalecki, M. 233, 361

‘degree of monopoly and 260 hypothesis of ‘increasing risk’ 261, 359 indebtedness increases risk of

bankruptcy 370

inflation determined by the distributive conflict 362

level of income and its distribution 258-60 principle of adjustment of the capital stock 261

theory of effective demand 258, 260

three hypotheses to determine profit share 259-60

the trade cycle 260-2

widow’s cruse theorem and 259, 354 works,

Essays in the Theory of Economic Fluctuations (1939) 258

‘Political Aspects of full Employment’ (1943) 262

‘Proba teorji Konjunktury’ (1933) 258

Selected Essays on the Dynamics of the Capitalist Economy (1933-1970) 258, 262

Kant, I 188, 499

Kantorovic, L.V., Mathematical Methods of the Planning and the Organization of Production (1939) 313, 438

Keynes, J. M. 9, 39-40, 49, 63, 160, 218, 233, 236, 248

‘administered market’ 257-8

became sceptical about effectiveness of monetary policy (1930s) 255-7

conditions for Second World War and 232 consumption function 328

criticized theories of under­

consumption 239 distinction between ‘debtor risk’ or risk of

entrepreneur 359

dynamics of economy as disequilibrium phenomenon 250

endogenous nature of the money supply 358

English debates on economic policy 245-9 equilibrium approach 251

Gold Standard and unemployment 249 how he became Keynesian 249-51 inflation depends on excess of aggregate expenditure over real output 332

Keynes, J. M. (cont.)

liquidity preference theory 235 ‘marginal efficiency of capital’ 213 opposed welfare economics 291 real wages tend to be pro-cyclical 367 role of speculation in determination of interest rate 256

savings adjust to investments through variations in income 254-5

speculative ‘bubbles’, catastrophic crashes 344

State should take on role of ‘concerted and deliberate management’ 249

works,

Can Lloyd George Do It? (1929) 242 ‘Does Unemployment need a Drastic Remedy?’ (1924) 249

End of Laissez-Faire (1926) 249, 251, 257 General Theory (1936) see separate entry How to Pay for the War (1940) 332 Tract on Monetary Reform (1923) 236, 249

Treatise on Money (1930) 219, 240-2, 250-1, 332, 354

Kirman, A. P. 386

‘Intrinsic Limits of Modern Economic Theory: The Emperor has No Clothes’ (1989) 393

Kirzner, I. 218, 496

Competition and Entrepreneurship

(1973) 499

Discovery and the Capitalist Process

(1985) 500

Knies, K. 110, 190, 210

Knight, F. 4, 307 Kondratiev, N. D.,

cycles ( fifty to sixty years) 266 long waves (or major cycles) 314 ‘third wave’- innovations in automobile and chemicals 302

Koopmans, T. C., Activity Analysis of Production and Allocation (1951) 438

Kreps and Wilson, notion of ‘sequential equilibrium 430

Kuhn, H. W.,

n-person perfect-information game, equilibrium in pure strategy 429 theory of structure of scientific revolutions 5-6

Kuznets, S. 329

Uses of National Income in Peace and War (1942) 328

Kydland and Prescott,

‘new growth theory’ 435

‘Time to Build and Aggregate Fluctuations’ (1982) 342

Lachman, L. 216, 218, 496

market as an Economic Process,

The (1986) 500

Lange and Lerner, trial-and-error procedure 296-7

Lange, Oscar 187, 296

market a calculator to solve system of simultaneous equations 298

prices and 299

two alternative models 297 welfare economics 397

Leibenstein, J. Economic Backwardness and Economic Growth (1957) 369

Leijonhufvud, A. 346-8

Lenin, V. I. 314

Der Imperialismus (1816) 313

Leontief, W. 310-12, 357, 380

Input-Output Economics (1966) 312, 437-9

Structure of the American Economy (1919-29) 312

Studies in the Structure of the American Economy (1953) 312

Lerner, A. 284-5, 296, 397

Lindahl, E. R. 221, 236

hypothesis of perfect foresight 237

optimality and public goods 402

‘period’ method 288

Public Choice school and 479

‘temporary equilibrium’ 238, 288 works,

Dynamic Approach to Economic Theory (1939) 238

Interest Rate and the Price Level The (1929) 237

Lippi, M., Value and Naturalism in

Marx (1979) 451

List, G. F., Das nationale System der politischen Oekonomie (1841) 109

Litosenko, L. N. 311-12

Lloyd, W. F. Lecture on the Notion of Value (1834) 103

Locke, J. 39, 41, 44, 45, 48, 57, 63, 67, 115, 477

Godwin criticized his justification of private property 139

justice and 411

justification of private property by labour theory of value 47, 136

labour theory of value 99 per cent 46, 75 source of value is labour 140

theory of surplus and 74 theory of value and ownership propositions 149-50

Longfield, S. M. 1, 103-4, 170

Lotz, J. F. 85, 102, 107, 168

Louis-Philippe, ‘the bourgeois king’ 133 Lucas, Robert E. Jr. 340

model similar to Romer’s (1986) version (1988) 436

‘rational-expectations’ hypothesis 341, 496

Luce and Raiffa,

prisoner’s dilemma and 431 work, Games and Decisions (1957) 428

Lundberg, E. 221, 236, 238

Luther, Martin, preaching against sale of indulgences (1517) 29

Luxemburg, R.,

imperialistic drive due to lack of effective demand generated in internal markets 314

work, Die Akkumulation des Kapital (1913) 313

Lyotard, F., ‘post-modern’ and 461

McCullock, J.R. 101, 116

Machiavelli, Niccolo,

became a science at the Renaissance 29, 66, 72

The Prince (1513) 24 5

Machlup, F. 217, 495

‘Marginal Analysis and Empirical Research’ (1946) 421

‘Theories of the Firm:Marginalist, Behavioural, Managerial’ (1976) 421 Malinvaud, E. 348, 389

‘Capital Accumulation and Efficient Allocation of Resources’ (1953) 382 Malthus, T. R. 1, 62, 107, 123, 176

accepted Smith’s theory of price as sum of incomes and 97

Corn laws and 96

cum grano salis 168 defeat by Ricardo 9 letter to Ricardo 97 opposed Ricardo over Corn Laws 92 works,

Essay on the Principle of Population (1798) 82

Principles of Political Economy

(1820) 92, 97

Malynes, G. de 34, 39-40

Mandel, E.,

Late Capitalism (1975) 450

Long Waves of Capitalist Development (1980) 450

Traite d'economie marxiste (1962) 450 Mandeville, B. de 44, 48

Fable of the Bees, or private Vices, Public Benefits (1714) 48-9

Markowitz, H., Portfolio Selection (1959) 331 Marris, R.,

Economic Theory of Managerial Capitalism (1964) 418

‘Managerialism, Macroeconomics, Efficiency and Equality’ (1989) 413 Marshall, Alfred 2, 10, 60, 120, 128, 164, 168-70, 198-200, 222, 359

authentic school of thought 197

‘Cambridge Equation’ 235 competition and equilibrium 200-2, 250 concepts of ‘industry’ and ‘representative firm’ 198

‘consumer surplus or rent’ 199

criticized Pigou (1912) 204

Darwin and 199, 201

demand price and supply price 201-2

did not accept Jevons’s attack on

Ricardo 200

externalities and irreversibilities of supply curves 492

‘irreversible’ supply curve 301

justice and 409

law of the struggle for existence 203

market behaviour and normal

behaviour 201

periodical crises 235

profit maximization and total cost and revenue curves 275-6

quasi-rents 212

short- and long-run equilibrium theories 314

social philosophy 202-3

welfare economics 203

works,

Economics of industry (1879) 170

Money, CreditandCommerce (1923) 235 Present Position of Economics lecture (1885-6) 202

PrinciplesofEconomics (1890) 165, 187, 199-200, 203-5, 270

Marx and Engles,

labour theory of value 171

works,

German Ideology 144

Manifesto of the Communist Party (1848) 137,

Marx, K. 9, 13,40,76, 116, 120, 166,239,264 capitalist system and 167

classical economists and Ricardo in particular 142-3

considered himself critic of Ricardo and Smith 445

‘critique of political economy’ 142 economic growth 165 economic theory

classical economists and 142-6 equilibrium, Say’s Law and crises 154-5 exploitation in the production process 146-8 monetary aspects of cycle and crisis 159-61, 501

transformation of values into prices 151-4 wages, trade cycle and ‘laws of movement’ of capitalist economy 155-9 economic theory exploitation and value 148-51, 507

English monetary debates and sided with banking school 159

falling profit rate, march of capitalism

to destruction 447

founded modern socialism 138

‘from each according to his ability, to each according to his needs’ 135

goods exchanged at ‘production prices’ 151 identified classical theoretical system 168 Locke’s propositions and 150-1 long-term movements in rate of interest and 161

marginalists revolution against his classical economics 169

multiplier process in 242 optimism of models of stagnation and breakdown 502

predictions seemed to be turning out to be true 233

‘quantity of labour’ and 75

‘reproduction schemes’ 239 reproduction schemes 389

Ricardian socialists and 141, 151

Say’s Law and 155 socialism incompatible with the market 295 ‘squaring of the circle’ 100

theory of cycle, fundamental hypotheses 155 Thornton’s liquidity preference and 159-60 unaware of difficulties in labour value 452 value is a social phenonomenon 445 wage theory differed from classical economists 156

works,

Das Kapital (1867) 142, 147-8, 152-3, 155, 171, 295, 313, 445-6

Grundrisse 142, 154, 159

Theorien Uber den Mehrwert 142

Theories on Surplus Value 86, 142, 242

Kalecki and 260-1

Mazzola, U.,

Public Choice school 479

Work, I dati scientifici della finanza pubblica (1890) 229

Menger, Carl 2, 170, 172, 179, 187, 197, 215, 229

birth of Austrian School and the Methodenstreit 189-92, 495

centrality of theory of marginal utility and 192-3

critique of classical economics 192 distinction between moral values and science 187-8

distributive shares in terms of marginal productivity 205

exchanges pertain to order of means 193 marginal utility cost of phenomenon and conditions of supply 193 methodology and 189-90

pure science always wertfrei (value-free) 191 reaction to German Historical School was harsh 191

utility theory of value 166, 192, 219 works,

Grundsatze der Volkwirtschaftslehre (1871) 164, 189, 218-19

Principles 190

Untersuchungenuber die Methode der Sozialwissen-schaften und der poitischen Oekonomie insbesondere (1983) 191

Menger, Karl (son of Carl) 217 mathematisches Kolloquium seminars 280, 311, 437

Metcalfe and Steedman, ‘Reswitching and Primary Input Use’ (1972) 444

Mill, J., supporter of Ricardo 101, 168

Mill, J. S. 2, 10, 113-15, 168, 171,

176, 202

abstinence theory to explain profit 119 banking school in currency crisis (1825) 125 cunctator socialism and 121

member of Utilitarian Society 114, 409 on population growth 118

rate of profit inevitable tendency to fall in long run 120-1

rate of return of real capital 161 tackled some of the problems of Ricardian theory of value 118-19

works,

Autobiography (1861) 114

Essays on Some Unsettled Questions in Political Economy 118

Principles of Political Economy (1848) 113, 115, 119, 199, 209

System of Logic (1843) 173 Utilitarianism (1863) essay 114

Minsky, H. P. 351, 360

Can ‘It' Happen Again? Essays on Instability and Finance (1982) 359 Misselden, E. 34, 39

Mitchell, W. C. 6, 304

Modigliani and Brumberg, ‘Utility Analysis and the Consumption Function: An Interpretation of Cross-Section Data’ (1954) 329

Modigliani, F., ‘Liquidity Preference and the Theory of Interest and Money’ (1944) 326

Montanari, G. 10, 42, 60

Montchretien, A. de, Traite de l'oeconomie politique (1615) 29

More, T. 134-5

Morgenstern, O. 217-18, 281-2, 380 Morishima, M. 441, 506

‘Fundamental Marxian Theorem’ 506 work, Equilibrium, Stability and Growth (1964) 385

Mortimer, T. 65

game theory should be new language for economics 282

Muller, 109-10

Muth, J. F., ‘Rational Expectations and the Theory of Price Movements’ (1961) 341

Myrdal, K. G. 7, 221, 236, 238 expectations among variables that determine price 237, 288 institutional line of research 308 ‘period’ method 288 problems of underdeveloped countries and 308

‘virtuous and vicious cycles’ 492

work, Monetary Equilibrium (1931) 237, 308

Nash, J.,

‘Equilibrium Points in N-Person Games’ (1950) 380

‘Non-cooperative Games’ (1951) 429 Nelson and Winter, Evolutionary Theory of Economic Change (1982) 422 Newton, I. 29, 65-6

North, D. 44, 47-8, 64, 480

Discourse upon Trade 45, 48

Institutions and Economic theory 480 Nozick, R.,

‘libertarianism’ 503

process-orientated approach rejects consequentialism 411-12

work, Anarchy, State and Utopia

(1974) 411, 477

O’Connor, J., Fiscal Crisis of the State (1973) 451

O’Driscoll, G. 218, 496

Ohlin, B. 221, 236

Okishio, N. 450, 506

reconsidering Shibata’s theory 315, 450 Okun, A. M.,

developed Hick’s distinction between ‘flex-price’ and ‘fix-price’ 365

distinction between ‘auction’ and ‘customer markets’ 366

Equality and Efficiency: The Big Trade-Off (1975) 410

‘Inflation: its mechanics and Welfare Costs’

(1975) 365

Prices and Quantities (1982) 365

Oresme, Nicholas 32, 34

Ortes, G. 1, 59, 62, 82

Owen, R. 2, 139-40

Padova, Marsilio da, constitutional state and 23

Palmieri, M. Della vita civile (On civil life) 24 Pantaleoni, M. 2, 4, 6, 164, 187, 197, 227-9 criticized by Sraffa 272

letter from Pareto to 225

marginalist analysis to problems of public finance 229

Public Choice school 479

Work, Principii di Economia Pura

(1889) 228

Pareto, V. 3, 10, 60, 113, 172, 187, 197, 286 attack against Wicksteed’s conclusion of constant returns to scale 206 criterion and the new welfare economics 226-7, 295, 396-7 from cardinal utility to ordinalism 223-6, 286, 291

general equilibrium theory 223 Law on distribution of income 223, 228 social optimum 226

study of long waves (1913) 314 superiority of perfect competition over monopoly 227

two basic assumptions in theory of monopolistic competition 273

works,

Cours d'economie politique (1896-7) 223-4

Manuale di economia politica (1906) 209, 223, 225, 273, 470

Trattato di Sociologia generale (1916) (The Mind and Society) 223, 225 Pasinetti, L. 351, 441

‘Economics of Effective Demand’ (in Growth and Income Distribution) (1977) 352

‘Rate of Profit and Income Distribution in Relation to Rate of Growth’ (1962) 356

Structural Change and Economic Growth (1981) 357

Patinkin, D. 348 general-equilibrium model 327 Money, Interest and Prices (1956)

326, 346

Penrose, E., Theory of the Growth of the Firm (1959) 418

Petty, W. 41, 45, 47-8, 50, 63, 168 determinants of natural value 46 labour theory of value 75 ‘parity’ between land and labour 50 Political arithmetik (1690) 44-5 Treatise of Taxes and Contribution (1662) 46-7

Phelps, E. S., ‘Phillips Curve: Expectations of Inflation and Optimal Unemployment over Time’ (1967) 337

Phillips, A. W. H., ‘Relationship between Unemployment and the Rate of Change of Money Wage Rate in the United Kingdom (1861-1957)’ (1958) 333

Pierozzi, A. 25, 27, 32

Pigou, A. C. 197, 247

critic of Treasury view 248

distinction between private and social costs 204

on employment 249

industry as collection of firms in static equilibrium 205

maximization of sum of individual utilities 226

social philosophy 275

solution to inefficiencies caused by externalities 401

welfare economics and 203-5, 409 works,

Economics of Welfare (1920) 204, 271 ‘Exchange Value of Legal Tender Money’ (1917) 235

Pitt, William (the younger) 123

Plinius, Natural History, story of mouse 42

Polanyi, K. 296, 466-9

criticism of capitalism 469 self-regulated market and 467-8 work, Great Transformation,

The (1944) 467

Popov, P. I. 311-12 Proudhon, P.-J. 2, 139

Quesnay, F. 1, 67-8, 187, 263

theory of surplus and 74

work, Tableau economique (1758) 49, 55-7, 154, 389

Rawls, Theory of Justice (1971) 411, 477

Read, S., anti-Ricardian research programme 103

Remak, R. 380, 437

Bortkiewicz in contact with 310

Leontief 312

problem of solutions for ‘circular-flow’ model of n equations 311

Ricardo, David 1, 13, 46, 64, 68, 76, 107, 109-10, 115, 120, 168, 176

accepted much in Malthus’s theories 96 assumed aggregate output level as exogenous 352

blamed for crisis because of his monetary theory 125

bullionist approach and 122

capital does not contribute to creation of value 119 deflationist 128 dominated English economic thought (1815-48) 100-1

economic growth 165 general gluts and 141 law of diminishing returns and 174 maintained rents do not enter calculations of prices 98

pamphlet 93 population principle and theory of wages 83, 96

‘quantity of labour’ 75 rate of return of real capital 161 rejected the measure in labour commanded 99

repeal of Corn laws and 92, 95 subsistence wage depended on habits of workers 116

theory of rent 209 theory of value and distribution and 102, 202, 205

use of Say’s Law 97 works,

Notes on Malthus (1820) 96

On the Principles of Political Economy and Taxation (1817) 82, 92-3, 97, 219, 440

Plan for the Establishment of a National Bank (1824) 125

Works and Correspondence 97

Ricardo and Malthus, the Corn Laws 91-2 discussions on value 97-100 profit and wages 95-6 profits and over-production

96-7

theory of rent 92-4 thirty years of crisis 90-1

Rizzo, M. 218, 496

Robbins, L.C. 226, 248, 284

‘individual preference’ safer than

‘levels of welfare’ 292

Keynesian criticism of Pigou and 291

ordinalist approach 292, 470 social welfare and 405

work,

Essay on the Nature and Significance of Economic Science 165, 217-18, 286, 291

Robertson, D. H. 247-8, 250

Robinson, J. V. 206, 273, 280, 351

‘bastard Keynesian’ and 325 criticism accepted by Morishima and

Hicks 441

equilibrium of the group 276 equilibrium of single firm and the

sector 273

‘Euler’s Theorem and Problem of

Distribution’ 277

full employment difficult in laissez-faire regime 354-5

imperfect competition 279

Keynesian theory and 277 marginal revenue and 275 works,

Accumulation of Capital (1956) 41 Economics of Imperfect Competition

(1933) 275-6

‘Normal prices’ and ‘A Model of Accumulation’ in Essays in the Theory of Economic Growth' Rodbertus, J.K. 1-2, 139 Roemer, J.E. 503, 506-7

Roll, History of Economic Thought, A 6 Romer, P.,

different kinds of knowledge 436 Increasing Returns and Long-Run Growth

(1986) 435 Roscher, W. 1, 190

Grundriss zu Vorlesungen uber die

Staatswirtschaft nach geschichlich Methode (Compendium of Lectures on Public Economics according to the Historical Method) 110 Rosenberg, N. Inside the Black Box:

Technology and Economics (1982) 422

Ross, S. ‘Economic Theory of

Agency: The principal’s Problem’ (1973) 422

Rothbard, M. 218, 495 Rothschild, K. W., ‘Price Theory and

Oligopoly (1947) 431

Rousseau, J.-J. 136-7, 139, 405, 411

Saari, D. G. 386, 393-4 Saint-Simon, C. H. de Rouvroy 2, 134-5,

137

Du systeme industriel (1820-2) 136 Samuels, W. 485, 488

Samuelson, P. A. 166, 326, 382, 438, 440 compensation tests 293, 295 correspondence principle 384

Samuelson, P. A. (cont.):

cycles by multiplier or accelerator could be dampened or explosive 243 economic problems can be reduced constrained maximization 381

pure theory is a parable 389 solution for inefficiencies caused by externalities 401

studies on theory of distribution and 228 ‘Summing Up’ on neoclassical theory of aggregate capital 441

traditional tatonnement equation and 385 works,

Foundations of Economic Analysis (1947) 228, 380

‘Stability of Equilibrium: Comparative Statics and Dynamics’ (1941) 380

Say, J.-B. 85-6, 102, 109, 168-9, 176 attempt to justify laissez-faire philosophy 86

classical tradition in France and 104 criticized Ricardo over rent for marginal lands 94

cum grano salis 168

utilitarianism and 166

works,

Cours complet dFconomie politique pratique (1828) 87

Traite dTconomie 87

Scarf, H. 208, 213

‘Some Examples of Global Instability of the Competitive Equilibrium’ (1960) 385

Schelling, T., Strategy of Conflict (1960) 428

Schlesinger 281, 311, 380, 437

Schmalensee, R., New Industrial Organization and the Economic Analysis of Modern Markets (1982) 422

Schmoller, G. 110, 179, 189-91

Schotter, A., Economic Theory of Social Institutions, The 479

Schumpeter, J. A. 190, 233, 301, 490, 501 on Cassel 223

competitive process is one of ‘creative destruction’ 264

equilibrium and development 262-5 on Fisher 212-13

innovation and 264-5

Salamanca school and 42-3

the trade cycle and money 265-6 on Walras 186

Walrasian model of general economic equilibrium and 262-3

Works,

Business Cycles (1939) 262

Capitalism, Socialism and Democracy (1942) 262

History of Economic Analysis 1-2, 4, 30, 202, 212

Theorie der Wirtschaftlichen Entwicklung (Theory of Economic Development 1912) 262

Selten, R.,

perfect criterion and sequential equilibrium 432

‘Re-examination of the Perfectness Concept for Equilibrium in Extensive Games’ (1975) 430

Sen, A. 401

attacked the ‘information poverty’ of Arrow’s scheme 406

attempts to extend his work 409 difference between ‘freedom to act’ and

‘freedom to realize’ 412-13 works,

Collective Choice and Social Welfare (1970) 407

Commodities and Capabilities (1985) 412 Development as Freedom (1999) 413 ‘Impossibility of a Paretian Liberal’ (1970) 408, 465

On Economic Inequality (1973) 412

Wealth of Reason (2001) 412

Senior, N. W. 1, 104, 166, 170, 176, 202

Mill referred to on capital 119-20 value depends on condition of supply and demand 103

Shackle, G. L. S. 3, 7, 351

uncertainty at centre of his reinterpretation of Keynes 353

Shubik, M. 208

Strategy and Market Structure (1959) 431

Simon, H.,

‘procedural rationality’ 432

works,

Administrative Behaviour (1957) 419 ‘From Substantive to Procedural

Rationality’ (1976) 420

Sismondi, J. G. L. S. de 1, 138

Skyrms, B., Evolution of Social Contract (1996) 434

Slutsky, E. ‘Sulla teoria del bilancio del consumatore’(1915) 286-7

Smith, Adam 6-7, 10, 41, 55, 63, 67-8, 107, 109-10, 115, 120, 124

accumulation and distribution of income 68-9

accused of a few ‘vulgar notions’ 168 distinction between embodied and commanded labour 151

economic growth 165

idea that money should be used to increase welfare of people 33

as institutionalist 77-82

market and competition 72-3

market exhange and 193

Marx acknowledges he had inkling of nature of profit and capital 145 ‘mechanical clock and the ‘invisible hand’ 65-8

‘minimal State’ 476

problem of wage differentials 76 process of growth cumulative in nature 300

product and unproductive labour 69 rejected idea that exchange value explained by utility of goods 84

subsistence wage depended on habits and customs of workers 116

theorem of the invisible hand 67 see also separate entry

theory of the individualistic competitive equilibrium 390

three classes: landlords, bourgeoisie and proletariat 90

three souls 73-7

traces of wages-fund 115

‘trade or mercantile system’ and 32

value and 69-72

works,

Lectures on Jurisprudence (1762-4) Theory of Moral Sentiments (1759) 77, 81, 409, 472

Wealth of Nations, The 1, 68, 75-7, 81-3, 101, 472, 491

Smith, J. M., Evolution and the Theory of Games 432

Soden, F. 85, 102, 107, 168

Solow, R. 326, 437

efficiency wages 369

interest rate by marginal productivity of capital and 334

‘Contribution to the Theory of Economic Growth’ (1956) 333

Sonnenschein, H.F 280

‘Market Excess Demand Functions’ (1972) 386

Sraffa, P. 10, 13, 258, 276, 444, 465 criticism of Marshallian system 271, 293 difference from neoclassical approach 445 evaluation of work in historical perspective 444

introduction to Ricardo’s Principles 440 ‘Laws of Returns under Competitive Conditions’ 272

standard commodity 389 theoretical attack on marginalism in articles 415

theory of market forms 272 took Marx seriously on value as social phenomenon 446

works,

Prelude to a Critique of Economic Theory (1960) 445-6

Production of Commodities by means of Commodities (1960) 441

‘Sulle relazioni tra costo e quantita prodotta’ (1925) 271

Steuart, J. D. 1, 63, 65

An Inquiry into the Principles of Political Economy (1767) 64

Stigler 4, 274

Stiglitz, J. E. 366, 369, 373, 440, 459

on IMF errors during south-east Asia crisis 460

rigidities in financial markets 370 work, Economic Role of the State, The 478 Swan, T. W. 1488

‘Economic Growth and Capital Accumulation’ (1956) 333

Sweezy, P. M. 447-8

‘Demand under Conditions of Oligopoly’ (1939) 415, 447

Theory of Capitalist Development (1942) 315, 447

Sylos-Labini, P. 360

Ologopolio e progresso tecnico (1957) 417

Taylor, Harriet 115

Taylor, J. B., theory of ‘staggered’ labour contracts 366

Thornton, W. T. 127-9

Bullionist approach and 122, 128 criticism of Mill 118

theory of liquidity preference 159-60 wide definition of money 129

Thornton, W. T. (cont.)

work, Enquiry into the Nature and Effects of the paper Credit of Great Britain (1802) 128

Thiinen, J. H. von 1, 102, 109, 168, 170

Der Isolierte Staat (1826) 108

Tintner, G. 380, 382

Tirole, J. 484

Theory of Industrial Organization

(1988) 422

Tobin, J. 326, 329, 331

works,

‘Commercial Banks as Creators of Money' (1963) 358

‘Dynamic Aggregative Model' (1955) 333

‘General Eqiilibriim Approach to Monetary Theory' (1969) 332 ‘Liqiidity Preference as Behavioir toward Risk' (1958) 331

‘Money and Income: Post Hoc ergo Propter Hoc?' (1970) 359 Tooke, T. 125, 501

Tool, M. R. 485-6

Torrens, R. 1, 83, 92, 96, 101, 116, 119, 123 criticized Ricardo's labour theory of value 101

currency school in (1825) crisis 125 mechanism of credit multiplier 127

Tugan-Baranovskij, M.I. 239, 250 accumulation of real capital leads to exhaustion of loanable capital 240

Industrial Crises in Contemporary England 239-40

Turgot, A. R. J. 1, 58

Uno, K. 449-50

Principles of Political Economy (1950-2) 448-9

Vauban, Sebastian de 49, 57

Veblen, Thorstein 484, 488

criticism of American capitalism 303 economics should be evolutionary science and 303

pessimistic and critical institutionalist 168, 301, 307

radical critique of all orthodox economic theory 302

works,

Economic Theory in the Calculable Future (1925) 303

Theory of Business Enterprise (1904) 303 Theory of the Leisure Class (1899) 303 Why is Economics not an Evolutionary Science? (1898) 303

Verri, P. 1, 59, 62-3

Vico, G. 25, 55

Volterra, V., reviewed Pareto's Manuale 470 von Mises, L. 236, 495

challenge from Polanyi 296 creator of Privatseminar 217-18 economic calculation needed to be guided by prices 298

von Neumann, J. 280-2, 357, 380, 437 consumption determined by ‘necessities of life' 283

minimax theorem 430

model 311

teaching in Berlin (1927-9) 311

took part in Marschak's seminar on general equilibrium 311

‘Uber ein okonomischen Gleichungs- system und eine Verallmeinerung des Bouwerschen Fixpunktsatzes' (Model of General Economic Equilibrium) (1937) 282

von Neumann and Morgenstern, Theory of Games and Economic Behaviour (1944) 282, 380, 428

Wald, A. 281-2, 311, 380, 437

uniqueness and stability using ‘diagonal dominance' 385

Wallerstein, I., Modern World System (1974-80) 451

Walras, Leon 2, 6-7, 169-70, 172, 207, 223, 507

analysis of perfect competition 279 articulation of economic science 187-8 aware of structural differences between his model and real market 185 capitalist system and 167 competition difference with Marshall 201 competitive equilibrium and 208, 226 distinction between moral values and science 187-8

general economic equilibrium 183-7, 198, 201, 213, 219

dei ex machina necessary for 184 letter from Auguste to (6 February 1859) 173

nationalization of natural monopolies and 188

practical usefulness of partial-analysis method 198

simultaneous equations, interaction between consumers and sellers 186 theory of exchange 184

theory of general economic equilibrium 180-1

theory of interest and 171

theory of prices and 184

theory of wages-fund and 171 utility theory of value 166 violently attacked Smith 168 vision of working of economic system 180-3

works,

Elements d’economie politique pure (1874-7) 164-5, 181, 198

Etudes d’economie politique appliquee (1898) 188

Etudes d’economie sociale (1896) 188 West, E. 92, 107

Wicksell, K. 3, 129, 164, 197, 206, 236, 277

cumulative process 248, 250 marginalist theory of distribution 220 ‘natural’ interest rate and 236

New Deal ideology of 222

optimality and public goods 402 origins of Swedish School and 218-3 principle of benefit and contributive ability and taxation 222

Public Choice school and 479

three conditions for monetary equilibrium 221, 250

works,

Finanzteoretische Untersuchungen (1896) 222

Geldzins und Gueterpreise (1898) 218,

221

Wicksteed, P. H. 164, 171, 187,

197, 220

‘exhaustion of the product’ and 205-7 ulitarianism and justice 409 works,

Common Sense of Political Economy 207

Essay on the Co-ordination of the Laws of Distribution (1894) 205

Wieser, F. von 2, 164, 190, 197, 215

Theorie der gesellschaftlichen Wirtschaft (1914) 215

Williamson, O.,

transaction costs in 481

works,

Economic Institutions of Capitalism, The (1985) 480

Managerial Discretion and Business Behaviour (1964) 418

Markets and Hierarchies: A Study in the Economics of Internal Organizations (1975) 480

Wolff, S. de 314, 494

Young, A. 492

wasteful to make a hammer to drive

a single nail 301

‘Increasing Returns and Economic Progress’ (1928) 300

Zermelo, E., ‘Uber eine Anwendung der Mengenlehre auf die Theories des Schachspiels’ (1913)

429