A science and its history -- Before Adam Smith -- Adam Smith -- The classical school : Thomas Robert Malthus and David Ricardo -- Consolidation and innovation : John Stuart Mill -- Karl Marx as an economic theorist -- The forerunners of marginalism -- The marginalist revolution I : William...

This paper discusses the role that the economics of uncertainty has played in the theory of public finance. From being mostly concerned with its choice-theoretic foundations in the 1950s and ‘60s, the theory of expected utility maximization and risk averse behaviour has contributed decisively...

In the late 1940s, Ragnar Frisch published two articles in Norwegian that constitute a pioneering attempt to apply welfare economics to a problem of economic policy. The main contention of the articles is that there exists a fundamental externality in the labour market because the marginal...