Thomas Tooke and the Monetary Thought of Classical Economics

Thomas Tooke and the Monetary Thought of Classical Economics PDF

Author: Matthew Smith

Publisher: Taylor & Francis

Published: 2011-03-07

Total Pages: 321

ISBN-13: 1136817190

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The purpose of this book is to provide a comprehensive account and reconsideration of the contribution to political economy of Thomas Tooke (1774-1858), classical economist and influential monetary theorist. Its chief purpose is to examine Tooke’s contributions to political economy with the aim of bringing to light its unified nature and its important legacy to contemporary economics. In doing so the book aims to throw new light on monetary analysis within the framework of classical economics. There remains no comprehensive account of Tooke’s contributions that is concerned with showing his lasting and ongoing influence on the development of monetary thought. The book provides an interpretation and analytical study of Tooke’s political economy from the standpoint of the classical tradition. This enables a demonstration of how his constructive contribution throws a new light on monetary thought in this tradition.

On Classical Economics

On Classical Economics PDF

Author: Thomas Sowell

Publisher: Yale University Press

Published: 2007-01-01

Total Pages: 324

ISBN-13: 9780300126068

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A reexamination of classical economic theory and methods, by a senior economist of international stature Thomas Sowell's many writings on the history of economic thought have appeared in a number of scholarly journals and books, and these writings have been praised, reprinted, and translated in various countries around the world. The classical era in the history of economics is an important part of the history of ideas in general, and its implications reach beyond the bounds of the economics profession. On Classical Economics is a book from which students can learn both history and economics. It is not simply a Cook's tour of colorful personalities of the past but a study of how certain economic concepts and tools of analysis arose, and how their implications were revealed during the controversies that followed. In addition to a general understanding of classical macroeconomics and microeconomics, this book offers special insight into the neglected pioneering work of Sismondi--and why it was neglected--and a detailed look at John Stuart Mill's enigmatic role in the development of economics and the mysteries of Marxian economics. Clear, engaging, and very readable, without being either cute or condescending, On Classical Economics can enable a course on the history of economic thought to make a contribution to students' understanding of economics in general--whether in price theory, monetary theory, or international trade. In short, it is a book about analysis as well as history.

The Evolution of Economic Ideas

The Evolution of Economic Ideas PDF

Author: Phyllis Deane

Publisher: Cambridge University Press

Published: 1978-10-05

Total Pages: 260

ISBN-13: 9780521293150

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An introduction to the history of economics for undergraduate students. Puts some of the current theoretical controversies into long-term perspective by tracing their historical antecedents and parallels.

Endogenous Money, Interest and Prices

Endogenous Money, Interest and Prices PDF

Author:

Publisher:

Published: 2010

Total Pages:

ISBN-13:

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In the 1840s Thomas Tooke (1774-1858) developed novel monetary principles which formed the basis of the Banking School position. This article provides a systematic account of Tooke's banking school theory, central to which was his conception of 'endogenous money' and the causal relationship between the rate of interest, spending, and the price level. It is shown that in the context of 19th-century classical economics Tooke's banking school theory is much more coherent than has so far been appreciated in the literature. Indeed, it can be, and is, argued that Tooke's theory was a constructive alternative to the classicals' quantity theory of money.

The Classical Economists Revisited

The Classical Economists Revisited PDF

Author: D. P. O'Brien

Publisher: Princeton University Press

Published: 2017-10-29

Total Pages: 448

ISBN-13: 1400888239

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The Classical Economists Revisited conveys the extent, diversity, and richness of the literature of economics produced in the period extending from David Hume's Essays of 1752 to the final contributions of Fawcett and Cairnes in the 1870s. D. P. O'Brien thoroughly updates, rewrites, and expands the vastly influential work he first published in 1975, The Classical Economists. In particular, he sets out to make clear the shaping of a comprehensive vision of the working of an open economy, building on the great work of Adam Smith in Wealth of Nations, a development that was substantially affected by the contributions of David Ricardo. He shows that the Classical literature was in fact the work of a host of thinkers from a wide range of backgrounds. Covering the intellectual roots of the Classical literature and its methodological approaches, and the developed theories of value, distribution, money, trade, population, economic growth, and public finance, and examining the Classical attitudes toward a rich variety of policy issues, The Classical Economists Revisited considers not only the achievements of the Classical writers but also their legacy to the later development of economics. A seminal contribution to the field, this book will be treasured for many years to come by economists, historians of economics, instructors and their students, and anyone interested in the sweeping breadth and enduring influence of the classical economists.

Ricardo on Money and Finance

Ricardo on Money and Finance PDF

Author: Yuji Sato

Publisher: Routledge

Published: 2013-07-18

Total Pages: 267

ISBN-13: 1135041806

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David Ricardo, one of the major figures in the history of economic thought, particularly in the English classical political economy, deployed his activities as economist just two hundreds of years ago. Since then his economics has been generally estimated as the culminating point of the classical economics, and his name and theory has been exerting an enduring influence up to the present. This book, consisting of articles contributed by historians economic thought on money and finance, intends to reappraise the Ricardo’s monetary and financial thought on the occasion of its bicentenary and to offer historical clues to understanding today’s world wide financial crisis. The book consists of eight chapters divided into three parts. The first part is devoted to the historical back ground of Ricardo’s thought (Hume, Smith, Thornton etc). It serves to bring in relief the originality of Ricardo’s thought in the historical context. The second and central part consists of four chapters discussing the most important aspects of Ricardo’s monetary thought: Ricardo and quantity theory of money, the ideal monetary regime conceived by Ricardo very early in his career and matured till the last moment of his life, plan for the establishment of a national bank. In this part, the relation between the quantity of money and its value in Ricardo’s theory is examined in a new light and Ricardo as a non-quantity theorist. The two chapters in the third and last part discuss the problems raised after Ricardo in relation to his monetary thought. Tracing Ricardo's economic thought to the early 19th century, this book may provide readers insight to help them understand the present day financial crises through his works.

Classical Economics Reconsidered

Classical Economics Reconsidered PDF

Author: Thomas Sowell

Publisher: Princeton University Press

Published: 1994

Total Pages: 174

ISBN-13: 9780691003580

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This reconsideration of the macroeconomics, microeconomics, methodology, and social philosophy of the classical economists has been a small gem on the history of economic thought, written in a way accessible to students, while having much to teach scholars. The reissue of this book twenty years after its original publication is a tribute to the enduring relevance of the questions raised during the formative period of economics and to the skill with which the author analyzes them.

Classical Theories of Money, Output and Inflation

Classical Theories of Money, Output and Inflation PDF

Author: Roy Green

Publisher: Springer

Published: 2016-07-27

Total Pages: 275

ISBN-13: 1349223883

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This book challenges the conventional view that monetarism is a necessary part of classical economics and shows, in an historical account of monetary controversy, that the framework upon which classical analysis is based suggests an alternative account of the inflationary process. A corollary of the argument is that the monetarist approach is a logically necessary component of neoclassical analysis and that any attempt to criticise that approach in a fundamental way must involve an explicit rejection of the conceptual structure of neoclassical economics.

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