Drakopoulos, Stavros A. (2007): NORMATIVE ISSUES IN MARGINALISM: THE CASE OF P. WICKSTEED.
Download (96kB) | Preview
Phillip Wicksteed’s ideas played an important role in the history of economic methodology. This is because of two reasons: The first was that his views represent the starting point of the deliberate attempt to expel normative issues from marginalist economic analysis. The second reason was that his ideas influenced his disciple L. Robbins, who was one of the first theorists to set the methodological basis for an allegedly value-free economic science. The paper examines Wicksteed’s conception of a positive economic science and the role of normative aspects. In the same context, his views on the nature and the role of economic man, and his analysis of selfish and altruistic behaviour are also discussed. Finally, the work combines the above with Wicksteed’s economic methodology in order to asses his overall role and influence on the development of the trend towards a value-free economic theory.
|Item Type:||MPRA Paper|
|Original Title:||NORMATIVE ISSUES IN MARGINALISM: THE CASE OF P. WICKSTEED|
|Keywords:||Marginalism, Wicksteed, Normative, History of Economic Thought|
|Subjects:||B - History of Economic Thought, Methodology, and Heterodox Approaches > B3 - History of Economic Thought: Individuals
B - History of Economic Thought, Methodology, and Heterodox Approaches > B4 - Economic Methodology
|Depositing User:||Stavros A. Drakopoulos|
|Date Deposited:||12. Jan 2008 14:52|
|Last Modified:||07. Jan 2014 19:40|
Bensusan-Butt, D. (1978) On Economic Man, Canberra: Australian National University Press.
Blaug, M. (1980) The Methodology of Economics, Cambridge: Cambridge University Press.
Bowley, M. (1967) Nassau Senior and Classical Economics, New York: Octagon Books.
Bruni, L. (2000) “Ego facing alter: how economists have depicted human interactions”, Annals of Public and Cooperative Economics, vol. 71, pp.285-313.
Bruni, L. and Sugden, R. (2007) “The road not taken: how psychology was removed from economics, and how it might be brought back” The Economic Journal, vol.117, pp.146-173.
Caldwell, B. (1982) Beyond Positivism: Economic Methodology in the Twentieth Century, London: Allen and Unwin.
Coats, A.W. (1976) “Economics and Psychology: the death and resurrection of a research programme”, in S. Latsis (ed) Method and Appraisal in Economics, Cambridge: Cambridge University Press, pp. 43-64.
Comim, F. (2004) “The Common Sense of Political Economy of Philip Wicksteed”, History of Political Economy, vol. 36, pp.475-495.
Drakopoulos, S. (1991) Values and Economic Theory: The Case of Hedonism, Aldershot: Avebury
Drakopoulos, S. (1994) "Some implications of the new physics for economic methodology", South African Journal of Economics, Vol. 62, No. 4, pp.198-209.
Drakopoulos, S. (1997) “Origins and development of the trend towards value-free economics”, Journal of the History of Economic Thought vol. 19, pp.286-300.
Edgeworth, F. Y. (1881). Mathematical Psychics, London: Kegan Paul.
Flatau, P. (2004) “Jevons’s one great disciple: Wicksteed and the Jevonian revolution in the second generation”, History of Economics Review, vol.40, pp.69-107.
Fisher, I.  (1965) Mathematical Investigations in the Theory of Value and Price, New York: Augustus M. Kelley, 1965.
Fontaine, P. (2000) “Making use of the past: theorists and historians on the economics of altruism”, European Journal of the History of Economic Thought, vol.7, pp.407-422.
Gordon, S. (1977) “Social science and value judgments, Canadian Journal of Economics, vol.10, pp.529-46
Howson, S. (2004) “The origins of Lionel Robbins’s Essay on the Nature and significance of Economic Science”, History of Political Economy, vol.36, pp.413-443.
Jevons, W. S. (1871) The Theory of Political Economy, London: Macmillan
Jevons, W. S. (1905) The Principles of Science, London: Macmillan.
Marshall, A.  (1961) Principles of Economics (9th edition), London: Macmillan.
Mirowski, P. (1989) More Heat Than Light, Cambridge: Cambridge University Press.
O’Brien, D. P. (1990) “Lionel Robbins and the Austrian connection”, History of Political Economy, vol.22, pp.155-84.
Paul, E. F. (1979) Moral Revolution and Economic Science, London: Greenwood Press.
Redman, D. (1993) Economics and the Philosophy of Science, Oxford: Oxford University Press.
Robbins, L. (1932) An Essay on the Nature and Significance of Economic Science, London: Macmillan.
Robbins, L. (1938) “Interpersonal comparisons of utility: A Comment”, The Economic Journal, vol.48, pp.635-641.
Robbins, L. (1970) The Evolution of Modern Economic Theory, London: Macmillan.
Robbins, L. (1971) Autobiography of an Economist, London: Macmillan.
Samuelson, P. (1963) Foundations of Economic Analysis, Cambridge (Mass.): Harvard University Press.
Schabas, M. (1990) A World Ruled by Number. William Stanley Jevons and the Rise of Mathematical Economics, Princeton: Princeton University Press.
Steedman, I. (1989) “Rationality, economic man and altruism in P.H. Wicksteed’s Common Sense of Political Economy” in I Steedman, From Exploitation to Altruism, Oxford: Blackwell.
Walras, L. (1874) Elements of Pure Economics, transl. by W. Jaffe, London: George Allen and Unwin (1965).
Wicksteed, P. (1888) The Alphabet of Economic Science, London: Macmillan.
Wicksteed, P. (1889) “On certain passages in Jevon’s “Theory of political economy””, Quarterly Journal of Economy, 3, pp.193-314, reprinted in Wicksteed, 1933, pp.
Wicksteed, P. (1891) “The battle with materialism”, The Inquirer, August 16, pp.702-4.
Wicksteed, P. (1894a) ‘Dimensions of economic quantities”, Palgrave Dictionary of Political Economy 1, pp.583-5, reprinted in Wicksteed, 1933.
Wicksteed, P. (1894b) ‘Political economy and psychology”, Palgrave Dictionary of Political Economy 1, pp.140-142, reprinted in Wicksteed, 1933
Wicksteed, P. (1895) “The advent of the people”, in A. Reid (ed.), The New Party. Described by Some of its Members, London: Hodder Brothers, pp.36-40.
Wicksteed, P. (1914) “The scope and method of political economy in the light of the ‘marginal’ theory of value and of distribution”, Economic Journal, 24, pp.1-23, reprinted in Wicksteed, 1933
Wicksteed. P. (1906) “Review of Pareto’s Manuale di Economia Politica”, The Economic Journal, vol.16, pp.553-7.
Wicksteed, P.  (1933) The Common Sense of Political Economy and Selected Papers and Reviews on Economic Theory, vols. 1 and 2. Edited with an introduction by L. Robbins, London: Routledge.