This paper argues that despite a growing body of scholarly literature on Sir James Steuart, his theory of history and influence on Marxian political economy has been largely ignored. The approach of this paper is motivated, in part, by Marx's sympathetic treatment of Steuart found in the opening...

Neoclassical economists of the current era frequently pay lip service to Adam Smith's theories to certify the validity of natural-laws-based, laissez-faire policies. However, neoclassical theories are fundamentally disconnected from Adam Smith's notion of value, his understanding of the economic...

This paper argues that despite a growing body of scholarly literature on Sir James Steuart, his theory of history and influence on Marxian political economy has been largely ignored. The approach of this paper is motivated, in part, by Marx’s sympathetic treatment of Steuart found in the...

Neoclassical economists of the current era frequently pay lip service to Adam Smith’s theories to certify the validity of natural-laws-based, laissez-faire policies. However, neoclassical theories are fundamentally disconnected from Adam Smith’s notion of value, his understanding of the...

The role of first principles in economics is examined through the lens of dominant methodological approaches of the classical and neoclassical periods. First principles are most clearly displayed in pure deductive systems. The tension between first principles as the basis for deductivist...

Wie selbstverständlich geht die heutige ökonomische Standardlehre davon aus, dass sie Studierenden eine feste und unveränderliche Sicht auf die Welt vermitteln kann. Doch woher kommt diese Annahme? Walter Lippmann, einer der Begründer des Neoliberalismus, gibt hierauf einen ersten Hinweis:...

It has been alleged that J M Keynes, quoting in the General Theory a passage from J S Mill’s Principles, misunderstood the passage in question and was therefore wrong to cite Mill as an upholder of the ‘classical’ proposition that ‘supply creates its own demand’....

Wie selbstverständlich geht die heutige ökonomische Standardlehre davon aus, dass sie Studierenden eine feste und unveränderliche Sicht auf die Welt vermitteln kann. Doch woher kommt diese Annahme? Walter Lippmann, einer der Begründer des Neoliberalismus, gibt hierauf einen ersten Hinweis:...

The role of first principles in economics is examined through the lens of dominant methodological approaches of the classical and neoclassical periods. First principles are most clearly displayed in pure deductive systems. The tension between first principles as the basis for deductivist...