Marshall and the Marshallian Heritage

Tiziano Raffaelli (Pisa 1950) was a widely esteemed scholar in the field of the history and methodology of economics, who died suddenly in January 2016 while still in the midst of working and of developing projects for new lines of research. He was a philosopher of science by formation and a historian of economic ideas by professional choice, with interests covering a vast area, ranging from the 18th to the 20th century and from Europe to the US. Where he left an indelible mark, however, was in his interpretation of Alfred Marshall's economic theory and its reverberations through Keynes on the one hand, and the Cambridge school of industrial economics on the other. Raffaelli's research in this field offered a completely new view of the core and meaning of Marshall's work and of its relevance for 21st century social scientists. In the process, it stimulated a new and fruitful research program in Marshallian economics.
This volume consists of two parts. The first is devoted to illustrating the above-mentioned changes in the understanding of Marshallian economics and Raffaelli's role in bringing them about. The second part offers a collection of essays documenting some more recent developments in fields related to Marshall and his influence, including welfare economics and industrial organization, Marshall's legacy in Cambridge economics, the Chicago school, and beyond. The contributors to this volume range from leading senior scholars in the field to exceptional young scholars, and their contributions illustrates a myriad of ways in which the new view of Marshall inspired by Raffaelli's work influences our understanding of the history of economics from the late 19th century onward. This book will be of international interest to scholars working in the history of economic thought, and will also appeal to philosophers of science, methodologists, intellectual historians, and those who specialize in industrial organisation.

Presents a historical account of Marshallian economics Addresses recent developments in theory related to Marshall studies, and explores Marshall's influence on other economists Serves as an important contribution to the new wave of Marshall scholarship

Autorentext

Katia Caldari is Associate Professor of Economics at the University of Padova, Italy. Her main research interests and publications focus on some topics of economic theory (equilibrium, expectations, distribution, planning); history of economic thought (particularly Alfred Marshall and François Perroux) and industrial economics (industrial districts).
Marco Dardi is Emeritus Professor of Economics at the University of Florence, Italy. His research interests and publications in journals and edited volumes have covered various fields over the years, ranging from topics in economic theory (labour economics, consumer and decision theory, uncertainty and games, industrial organization) to the history of economic theory.
Steven G. Medema is Research Professor of Economics and Associate Director of the Center for the History of Political Economy at Duke University, USA. Dr. Medema's research focuses on theevolution of economics during twentieth century, with particular attention to economists' views of the economic role of government and the expansion of the boundaries of economics to encompass other social science disciplines.

Inhalt

Foreword.- Part One: Revisiting Marshall's Economics.- 1. Alfred Marshall in the Lower Valdarno.- 2. The organization of knowledge and knowledge as organization.- 3.Raffaelli on historical progress in Smith and in Marshall.- 4. Marshall's external economies. Economic evolution and patterns of development.- 5.Economic, Ethical and Political Aspects of Wellbeing. Marshallian Insights from his Book on Progress.- 6. Jevons and Marshall as Humboldtian scientists.- 7. Utilitarianism, the Moral Sciences, and Political Economy.- Part Two: Marshall's Influence Through the 20th Century.- 8. Destabilizing speculation on organized markets. Early perspectives in the spirit of Marshall.- 9. Industrial leadership, market power and long-term performance. Marshall's and Keynes's appreciation of American trusts.- 10. Between LSE and Cambridge. Accounting for Ronald Coase's fascination with Alfred Marshall.- 11. A great economist and a careful empiricist. Paul Samuelson's attitude towards Alfred Marshall.