Journal of the History of Economic Thought

Journal Article

“RISE AND FALL” OF THE WALRASIAN PROGRAM IN ECONOMICS: A SOCIAL AND INTELLECTUAL DYNAMICS OF THE GENERAL EQUILIBRIUM THEORY

Kirtchik, Olessia; Boldyrev, Ivan

2024 Journal of the History of Economic Thought

doi:10.1017/S1053837222000712

This paper aims at understanding social practices and institutions that ensured the transnational diffusion, recognition, and renewal of the research program in the General Equilibrium Theory (GET), in spite of multiple critics and apparent theoretical dead ends. First, we trace the main...

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FROM “TIRED MUSCLES” TO “MIGHT-HAVE-BEENS”: A DEBATE ON THE NATURE OF COSTS IN THE LATE NINETEENTH CENTURY

Barbieri, Fabio; Lourenço Filho, Marcelo

2024 Journal of the History of Economic Thought

doi:10.1017/S1053837223000226

This article explores a debate on the theory of cost that occurred in the 1890s between economist Silas MacVane and Austrian economists. MacVane defended the idea of objective “real cost” and the Austrians argued for subjective opportunity cost. Although this debate is rarely mentioned, it...

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THE “SOCIAL VALUE” DEBATE: AN EARLY CHAPTER IN THE HISTORY OF AMERICAN MARGINALISM

Fiorito, Luca

2024 Journal of the History of Economic Thought

doi:10.1017/S1053837221000626

This paper provides a reconstruction of the debate on “social value” among early marginalists in the US. This will be done in three steps. The first step analyzes John B. Clark’s approach to social value as presented in his Distribution of Wealth; the second step deals with other influential...

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CORREA MOYLAN WALSH BEYOND INDEX NUMBERS: FROM THE “BATTLE OF THE STANDARDS” TO THE SCIENCE OF MONEY

Cruz-e-Silva, Victor; Almeida, Felipe

2024 Journal of the History of Economic Thought

doi:10.1017/S1053837223000032

In 1901, Correa Moylan Walsh gained renown for writing a groundbreaking monograph on index numbers. His contributions to monetary economics, however, though neglected, transcend his work on index numbers, which was conceived to serve more foundational concerns of his. Therefore, our aim is...

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ROBERT TRIFFIN, JAPAN, AND THE QUEST FOR ASIAN MONETARY UNION

Maes, Ivo; Pasotti, Ilaria

2024 Journal of the History of Economic Thought

doi:10.1017/S1053837223000044

Especially with the Asian financial crisis of 1997–98, Asian countries have advocated a profound reform of the international financial architecture. Their proposals focused on two main axes: a reform of the global financial system, and stronger regional monetary integration in Asia. There are...

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BUILDING INTEGRATED MODELS IN ENVIRONMENTAL AND NATURAL RESOURCE ECONOMICS: THE CASE OF GORDON’S 1954 FISHERY MODEL

Parent, Baptiste; Mouysset, Lauriane; Missemer, Antoine; Levrel, Harold

2024 Journal of the History of Economic Thought

doi:10.1017/S1053837223000056

Environmental and natural resource economics lies inherently at the interface between economic and natural dynamics (e.g., geological constraints, climate change, biodiversity evolution). Building models in that field often means building integrated models, calling on knowledge and methods from...

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Journal Article

ON HERBERT A. SIMON AND JORGE LUIS BORGES ABOUT FREE WILL

Crespo, Ricardo F.

2024 Journal of the History of Economic Thought

doi:10.1017/S1053837222000736

In 1970 Herbert Simon was invited by the Sociedad Argentina de Organización Industrial to deliver lectures on “Business Management in the Technological Era.” He asked for an audience with Jorge Luis Borges, the director of the Argentine National Library. Simon had read Borges’s stories and was...

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Book Review: Hayek: A Life, 1899–1950

Grudev, Lachezar

2024 Journal of the History of Economic Thought

doi:10.1017/S1053837223000172

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Book Review: A History of Ecological Economic Thought

DesRoches, C. Tyler

2024 Journal of the History of Economic Thought

doi:10.1017/S1053837223000184