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Journal Article
History of Political Economy (2020) 52 (1): 171–190.
Published: 01 February 2020
...Terry Peach This article provides a rebuttal of Roy H. Grieve’s critique of Peach 2009, “Adam Smith and the Labor Theory of (Real) Value: A Reconsideration.” It is shown that Grieve cannot represent accurately the position he purports to criticize, that his criticisms are directed at phantom...
Journal Article
History of Political Economy (2019) 51 (3): 579–599.
Published: 01 June 2019
... . Benhabib Jess Farmer Roger E. 1999 . “ Resuscitating Real Business Cycles .” In Handbook of Macroeconomics , vol. 1 , edited by Taylor John B. Woodford Michael , 387 – 448 . Amsterdam : Elsevier . Bernanke Ben S. Parkinson Martin L. 1990 . “ Procyclical Labor...
Journal Article
History of Political Economy (1982) 14 (4): 543–558.
Published: 01 November 1982
... as ‘the measure of value’ indicated neither caprice, inconsistency, ambivalence, nor analytical dichotomy. It constituted, instead, additional evidence of the inherent harmony among the elements in classical doctrine. The real and monetary measures of value were equivalent. They were rationalized...
Journal Article
History of Political Economy (1985) 17 (3): 355–366.
Published: 01 September 1985
... CCC 00 18-2702/85/$1.50 Wicksell on technical change and real wages William Coleman I Will technical progress augment or depress real wages? On a theoretical level this issue over the last 170 years has been tackled by a number of different analytical...
Journal Article
History of Political Economy (1988) 20 (1): 43–63.
Published: 01 March 1988
....’ In D. Laidler, Essays in money and inflation (Chicago). Laidler , D. 1981 . ‘Adam Smith as monetary economist,’ Canadian Journal of Economics 14 ( May ). Laidler , D. 1984 . ‘Misconceptions about the real bills doctrine: a comment on Sargent and Wallace.’ Journal of Political...
Journal Article
History of Political Economy (1989) 21 (1): 77–90.
Published: 01 March 1989
.... Keynes , John M. 1936 . The general theory of employment, interest and money . New York. Laidler , David 1981 . ‘Adam Smith as a monetary economist.’ Canadian Journal of Economics 14 ( May ): 185 -200. Laidler , David 1984 . ‘Misconceptions about the Real Bills doctrine...
Journal Article
History of Political Economy (1992) 24 (4): 867–894.
Published: 01 November 1992
.... In Alternatives to Government Fiat Money , edited by James Dorn. Boston: Kluwer Academic. Green , Roy H. 1987 . Real Bills Doctrine. In New Palgrave: A Dictionary of Economics , edited by J. Eatwell, M. Milgate, and P. Newman. London: Macmillan. Hoover , Kevin. 1988 . Money, Prices and Finance...
Journal Article
History of Political Economy (2011) 43 (2): 295–302.
Published: 01 June 2011
... . Princeton : Princeton University Press . Roundtable Presentation Romantic versus Real-World Art-Making and Valuation Neil De Marchi Early on in his thoughtful reflection on Ruskin, the distinction between cultural and economic value arises, and David Throsby notes that mod- ern economic...
Journal Article
History of Political Economy (2021) 53 (1): 172–177.
Published: 01 February 2021
... for a 21st Century Social Economics, edited by W. Dolfsma, D. W. Hands, and R. McMaster, 17 40. Abington: Routledge. Gold, the Real Bills Doctrine, and the Fed: Sources of Monetary Disorder, 1922 1938. By Thomas M. Humphrey and Richard H. Timberlake. Washington, DC: Cato Institute, 2019. xix; 201 pp. $14.95...
Journal Article
History of Political Economy (2010) 42 (3): 403–424.
Published: 01 September 2010
...Terry Peach Based on an appraisal of Smith's (nonutilitarian) understanding of happiness in The Theory of Moral Sentiments , this article considers the possible origin, meaning, and fate of the “real measure” qua index of social happiness/welfare. It is suggested that the original welfare usage...
Journal Article
History of Political Economy (2009) 41 (2): 383–406.
Published: 01 June 2009
... that the lengths to which he went to obtain an association between the concepts of real price/real value and expended labor, ultimately to the point of abandoning his own declared choice of “real measure,” is compelling evidence of his commitment to an albeit rudimentary labor theory of exchangeable value...
Journal Article
History of Political Economy (2014) 46 (1): 55–83.
Published: 01 March 2014
...Terry Peach This article questions Adam Smith’s commitment to the notion of a beneficent Deity, or “all-perfect Being,” whose purpose is to promote the “real happiness” of humankind. It is argued that Smith conceals his true position in The Theory of Moral Sentiments by emphasizing the deceptive...
Journal Article
History of Political Economy (2020) 52 (1): 135–170.
Published: 01 February 2020
... real-world phenomena that required addressing via “Pigovian” policy instruments. It was only in the late 1950s and 1960s, with the growing social and political concern about large-scale pollution, that externality analysis came to capture the attention of economists, but even this early work...
Journal Article
History of Political Economy (2017) 49 (3): 405–436.
Published: 01 September 2017
... reflected the terms of the debate about A. H. Hansen's stagnation thesis in the 1940s. The real economy was supposed to be stable, although the model itself was not perfectly consistent with that. The estimation of the “Residual” by Solow and others led Domar to rethink aspects of his original model...
Journal Article
History of Political Economy (2019) 51 (2): 297–327.
Published: 01 April 2019
...Judge Glock Histories of the Federal Reserve have argued that up through the Great Depression it adhered to a “real bills” or “Riefler Burgess” conception of monetary policy, which caused it to focus on short-term borrowing as an indicator of the stance of monetary policy. This article argues...
Journal Article
History of Political Economy (2011) 43 (3): 513–536.
Published: 01 September 2011
...Claude d'Aspremont; Rodolphe Dos Santos Ferreira; Louis-André Gérard-Varet The cyclical behavior of wages and prices was a central topic in trade cycle analysis on the eve of the Second World War. Keynes and Harrod independently referred in the same year to the supposed countercyclicality of real...
Journal Article
History of Political Economy (2012) 44 (3): 451–469.
Published: 01 September 2012
... paper was regularly used to make commercial payments. While thinkers of the stature of David Hume and Adam Smith utilized the quantity theory of money or the real bills doctrine to explain the monetary system, Henry Thornton broke new ground by developing a theory that recognized the essential truth...
Journal Article
History of Political Economy (2012) 44 (4): 595–618.
Published: 01 November 2012
...Laurent Le Maux This article builds a “matrix of reflux” of all the channels of reflux of demand debts described by the banking school. It follows that the banking school’s law of reflux in general is different from the antibullionist real bills doctrine and more complete than a description...
Journal Article
History of Political Economy (2010) 42 (1): 21–73.
Published: 01 March 2010
... with the probabilistic nature of the real economic world. One can discern in these documents also that an essential part of Frisch's concept of econometrics as a science was its instrumental role in policy preparation for welfare and improvement of human conditions. Correspondence may be addressed to Olav Bjerkholt...
Journal Article
History of Political Economy (2009) 41 (3): 545–574.
Published: 01 September 2009
...) presents an innovative and consistent anti-Bullionist position. His views differ from those of the Bank of England and other anti-Bullionists; unlike them, he rejected the Real Bills Doctrine and Smith's monetary thinking in general as it applied to both convertible and inconvertible monetary arrangements...