.... The problem around which this history is set up is the problem that data observed passively might not display enough variations to reveal the rele- vant causal infl uences or relationships of the mechanisms that lie behind the phenomena. This problem, which I will call here the “problem of pas- sive...

... (a neoclassical two-factor produc- tion function in capital and labour, smooth capital-labour substitution, competitive factor markets and although “it includes several other fea- tures (outside fi at money in the asset menu, money wage infl exibility and We thank Donald Hester and participants at the 2008...

... and remarkably productive period in the fi elds of economic development and economic growth. A rich and prolifi c literature featured some of the most infl uential and well-known contributions in the history of economics. Discussions of economic devel- opment were dominated by “Big Ideas” relating...

...-speaking economists. Both in the Spanish and the French languages in particular there has already been a debate upon the anticipatory nature of Bernácerʼs work and his direct and indirect infl u- ence upon Keynesʼs Treatise on Money and General Theory. There is no disputing the relevance...

...- ble claim that there could be an economy-wide overconsumption con- current with increased investment or “overinvestment” right from the beginning of a credit infl ation. Thus, instead of locating the distribution of an economy’s output (national income or GDP) away from consumption— and toward...

... values of estimates for different items; for example, he compared production with national income, wealth with national income, capital infl ow with production, and so on (referred to in Studenski 1958). These comparisons served to link estimates in different chapters, informing readers...

... the roots of Ely’s methodology, which he learned from German mentors who were greatly infl uenced by German liberal religion. Economists have rarely noticed Ely’s connection with liberal reli- gion, through what might seem the unlikely channel of economics. Ely himself made little of it. Even in his...

... property of the world. Like Keynes, Hawtrey was deeply infl uenced by the philosophy of G. E. Moore’s Principia Ethica (1903).3 Moore claimed that goodness is an objective nonnatural property that exists in the world and that some things are in fact good. Moore’s assertion that goodness...

... place in Latin America, which was experiencing widespread fi nancial instabil- ity, exchange rate depreciation, and worrying signals of mounting infl a- tion. From the South American countries’ point of view, Kemmerer’s inter- vention was intended to help restore monetary orthodoxy and fi nancial...

... would arise, in his 1956 essay Friedman disclaimed any originality and sited his model within an “oral tradition,” to which infl uence he and his colleagues had been exposed at Chicago since the early 1930s. The forefathers of this tra- dition were Henry Simons and Lloyd Mints, with Frank Knight...

... Knight held a particular animosity toward the Catholic Church, and was one of the giants of early-twentieth-century neoclassicism, his infl uence did not deter Vito from the pursuit of an economics that he hoped was consonant with his Catholic beliefs. As we said more than once in this volume’s...

... that are “self-infl ammatory.” He argues that “speculation no doubt plays some part also . . . in self- infl ammatory exchange rates” that move a currency from its long-run equilibrium value (221–22). Notably, he does not use the term specula- 8. Compare McKinnon 1996, 17, which demonstrates...

... of Political Economy 40:4 (2008) John Stuart Mill is an epigone of classical liberalism, and, especially in his later years, under the infl uence of his wife, full of feeble com- promises. He slips slowly into socialism and is the originator of the thoughtless confounding of liberal...

..., and Pigouʼs, welfare economics, differentiating it from that of Vilfredo Pareto. Henry Sidgwick is a minor fi gure in most such accounts. To be sure, his infl uence on the young Alfred Marshall is recognized. John Maynard Keynes, in his memorial to Marshall, quoted the tribute that Marshall made...

... to research and scholarly achievement, and the extreme preparedness to question everything and everyone” (40). And Van Overtveldt mentions a fi fth factor, the university’s geographical isolation on the south side of a city that is itself a long way from other centers of intellectual and political infl...

... from other centers of intellectual and political infl uence, which amplifi ed the effect of the fi rst four. He makes a detailed case that these char- acteristics were there from the outset, personifi ed—apart from that specifi c vision of the nature of economics—in President Harper, whose attitudes...

... from other centers of intellectual and political infl uence, which amplifi ed the effect of the fi rst four. He makes a detailed case that these char- acteristics were there from the outset, personifi ed—apart from that specifi c vision of the nature of economics—in President Harper, whose attitudes...

...]. —Friedrich A. Hayek, “Richard Cantillon,” in The Trend of Economic Thinking: Essays on Political Economists and Economic History (1991) David Hume and Richard Cantillon were among the fi rst to develop a the- oretical approach to economic analysis, and both were also important infl u- ences...

... from other centers of intellectual and political infl uence, which amplifi ed the effect of the fi rst four. He makes a detailed case that these char- acteristics were there from the outset, personifi ed—apart from that specifi c vision of the nature of economics—in President Harper, whose attitudes...

..., 59–61. Klausinger / The Decline of the Austrian School 621 formal position was only that of secretary of the Chamber of Commerce, Mises was a dominant fi gure in theory as well as in policy. His infl uence on Austrian economic policy was indeed considerable, and his self...