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THE OLD GENERATION OF ECONOMISTS AND THE NEW: AN INTELLECTUAL HISTORIAN’S APPROACH TO A SIGNIFICANT TRANSITION

Published online by Cambridge University Press:  04 February 2010

DONALD WINCH
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Abstract

The article contrasts an intellectual history perspective on the transition from classical to neo-classical economics with doctrinal accounts of the marginal revolution. Marshall’s opinions on the mixture of theoretical, methodological, and moral and political elements involved in the generational divide shows that more was at stake than accounts in which theory alone is stressed suggest. It is also argued that in other respects less was at stake: drawing a sharp dividing line between pre- and post-marginal treatments of policy issues does not do justice to underlying continuities in the empirical utilitarian tradition. The article is dedicated to the memory of R. D. C. (Bob) Black, whose work on Jevons illustrates the benefits of an intellectual historian’s approach to this significant transition in economic thinking.

Type
Research Articles
Information
Journal of the History of Economic Thought , Volume 32 , Issue 1 , March 2010 , pp. 23 - 37
Copyright
Copyright © The History of Economics Society 2010

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