Book contents
- Frontmatter
- Series preface
- Contents
- Introduction
- 1 Origins of modern economics
- 2 Adam Smith's theory of value
- 3 Origins of modern growth theory
- 4 Classical monetary theory
- 5 Ricardo on value, distribution and growth
- 6 Scope and methodology of classical political economy
- 7 The marginal revolution and the neo-classical triumph
- 8 The neo-classical theory of value
- 9 The Marxian alternative
- 10 Neo-classical orthodoxy in the inter-war period
- 11 Monetary theory in the neo-classical era
- 12 The Keynesian revolution
- 13 Twentieth-century growth theory
- 14 Methodological divisions in economics since Keynes
- Index of names
- Subject index
7 - The marginal revolution and the neo-classical triumph
Published online by Cambridge University Press: 05 June 2012
- Frontmatter
- Series preface
- Contents
- Introduction
- 1 Origins of modern economics
- 2 Adam Smith's theory of value
- 3 Origins of modern growth theory
- 4 Classical monetary theory
- 5 Ricardo on value, distribution and growth
- 6 Scope and methodology of classical political economy
- 7 The marginal revolution and the neo-classical triumph
- 8 The neo-classical theory of value
- 9 The Marxian alternative
- 10 Neo-classical orthodoxy in the inter-war period
- 11 Monetary theory in the neo-classical era
- 12 The Keynesian revolution
- 13 Twentieth-century growth theory
- 14 Methodological divisions in economics since Keynes
- Index of names
- Subject index
Summary
It is generally accepted that the British classical economists of the first half of the nineteenth century constituted an identifiable school of economic thought. They shared a distinctive framework of economic ideas, shaped by a particular set of axioms and theories and generally characterised by a strong bias towards economic policies favouring economic individualism and laissezfaire. Whether this school of thought constituted a ‘scientific community’ in the sense that T. S. Kuhn uses the term in his analysis of the structure of scientific revolutions or whether it is better described as a ‘pre-paradigm school’ may be open to question. In Kuhn's view a scientific community consists of the practitioners of a scientific specialty who share a common paradigm. ‘To an extent unparalleled in most other fields they have undergone similar educations and professional initiations; in the process they have absorbed the same technical literature and drawn many of the same lessons from it. Usually the boundaries of that standard literature mark the limit of a scientific subject matter.’
Certainly nineteenth-century economists drew their basic assumptions and techniques from the same textual sources – Adam Smith, David Ricardo, Nassau Senior and John Stuart Mill being the main links in a clearly perceptible continuity of thought – though there was as yet no formally recognised education as an economist. The doubt, however, is not whether the nineteenth century community of economists shared ‘similar educations and professional initiations’ but whether they were the practitioners of a scientific specialty.
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- Information
- The Evolution of Economic Ideas , pp. 93 - 114Publisher: Cambridge University PressPrint publication year: 1978