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The Classical Economists Revisited
D. P. O'Brien

Book Description | Reviews
Chapter 1 [HTML] or [PDF format]

TABLE OF CONTENTS:

Preface to the Second Edition xi
Preface to the Original Edition xiii
Introduction xv

Chapter One: The Classical Economic Stage 1
I. The Period of Classical Economics 1
II. The Personnel of Classical Economics 3
III. The Backgrounds of the Classical Economists 9
IV. A Scientific Community? 12
V. The Economic History of the Classical Age 17
Further Reading 19

Chapter Two: The Roots of Classical Economics 26
I. Introduction 26
II. The Intellectual Environment 26
III. Adam Smith 35
IV. David Ricardo 44
V. The Later Classical Economists 52
Further Reading 56

Chapter Three: The Characteristics and Preconceptions of Classical Economics 63
I. The Focus of Classical Economics 63
II. Population 66
III. The Method of Classical Economics 79
Further Reading 87

Chapter Four: Classical Value Theory 91
I. Adam Smith 91
II. David Ricardo 98
III. "Cost-of-Production" Theories of Value after Ricardo 106
IV. The Subjective Value Theorists 114
1. J. B. Say 114
2. N. W. Senior 116
3. M. Longfield 119
4. W. F. Lloyd 122
5. Other Writers 122
V. Conclusion 123
Further Reading 124

Chapter Five: The Classical Theory of Distribution 127
I. Wages 127
II. Profits 137
III. Rent 145
IV. Relative Shares 153
V. Conclusion 161
Further Reading 161

Chapter Six: Classical Monetary Theory 165
I. The Historical Background 165
II. The Nature of Money 166
III. The Basic Theory 169
IV. The Bullion Debate 175
V. Monetary Control: The Bank Charter Debate 181
VI. A Fundamental Flaw? 191
VII. Inflation 194
VIII. Conclusion 198
Further Reading 198

Chapter Seven: International Trade 205
I. Absolute Advantage: Trade and Growth 205
II. Comparative Advantage 208
III. Reciprocal Demand 219
IV. The Terms of Trade 227
V. Trade Policy 228
1. Robert Torrens and the Cuba Case 230
2. Torrens and His Critics 233
3. Further Problems 238
VI. Customs Unions 239
VII. The Transfer Problem 239
1. Transfer Mechanisms 240
2. Classical Transfers 242
VIII. Conclusion 243
Further Reading 244

Chapter Eight: The Classical Theory of Growth and Development 248
I. The Smithian Growth Process 249
II. The Classical Vision of Growth after Smith 259
1. T. R. Malthus 259
2. J. R. McCulloch 260
3. J. S. Mill 263
III. Machinery and Gluts 269
1. The Machinery Question 269
2. Capital Accumulation and Gluts 274
IV. Productive and Unproductive Labor 278
V. Conclusion 281
Further Reading 282

Chapter Nine: Classical Public Finance 288
I. General Principles of Public Finance 288
II. Tax Finance 294
1. Direct Taxes 296
2. Indirect Taxes 308
III. National Debt 312
IV. Conclusion 319
Appendix: Net Present Value Taxation 320
Further Reading 322

Chapter Ten: The Policy Prescriptions of Classical Economics 327
I. The Legitimate Role of Government 327
II. Detailed Treatments of Intervention: The Domestic Economy 334
1. The Factory Acts 334
2. Mechanization 336
3. Pauperism 337
4. Education 339
5. Trade Unions 341
III. Policy for Ireland 342
IV. Colonies and Colonial Policy 345
V. Conclusion 349
Further Reading 350

Chapter Eleven: Classical Economics: A Retrospect 356
Notes 363
Index 405

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File created: 11/11/2014

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