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The Intellectual Worlds of Henry C. Carey, Part 1: Some Methodological Notes and the Scientific Sources of the American School of Political Economy in the United States November 30, 2014

Posted by Christopher Donohue in History of Economic Thought, History of the Human Sciences.
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Henry C. Carey (December 15, 1793 – October 13, 1879) was an economist from Philadelphia whose The Harmony of Interests: Agricultural, Manufacturing, and Commercial (1851) has attracted considerable attention for his critique of Ricardian and Malthusian economics. Like Daniel Raymond (1786–1849, who was the first sustained critic of Adam Smith, Thomas R. Malthus and David Ricardo), Carey found in particular Malthus and Ricardo’s laissez-faire outlook and quietism concerning class conflicts, and the unequal distribution of wealth between social classes factually incorrect and morally dubious. Instead, according to Jeffrey P. Sklansky in The Soul’s Economy (2002), Carey contended that “capitalist development naturally leads to class harmony rather than strife and that the free growth of market relations would result in the breakdown of class distinctions altogether, whether between master and slave or between employer and employee…” (80).

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Richard Ely on Industrial Civilization and Socialism August 22, 2011

Posted by Christopher Donohue in History of Economic Thought, History of the Human Sciences.
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Almost every economist who wrote from the French Revolution to the interwar period (and perhaps even to today)  defined the principles of their economics or political economy along with a narrative of the development of civilization.  Richard Ely was no exception.

Richard Theodore Ely (1854–1943)

As with Smith and Malthus, in Ely’s economics the reader is treated to several prolonged discussions of why savages made tools, what herdsmen were really like, and how medieval towns came into being. Not only did economists from Adam Smith forward have to address the increasingly complexities of land, labor, and capital, as well as banking and finance, but also the emergence of a new kind of civilization, industrial civilization. Ricardo and Marx’s discussions of technology and machinery alone argue for their continuing relevance.

Ely’s Elementary Principles of Economics (1915), intended for students, began the discussion of the emergence of industrial civilization with the all-too-familiar conceit, the “hunting and fishing stage.”  In this initial stage of development, economic activity is “isolated.”  Ely considered the earliest stages to be “independent economy” with little exchange of goods or coordination among individuals.  Ely also distinguished between two fundamentally differing views towards the natural world in human beings’ march towards civility, namely, “between uncivilized man, who uses what he finds, and civilized man, who makes what he wants.” (more…)

Primer: Agriculture, the Royal Institution, and the Spirit of Improvement April 7, 2011

Posted by Will Thomas in EWP Primer.
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Since my interest in agricultural research focuses on the activities of the 20th-century British state, I didn’t really expect to return to Britain’s original Board of Agriculture (1793-1820).  But then the head of our Centre here at Imperial, Andy Mendelsohn, showed up in my office a couple of weeks ago with Morris Berman’s Social Change and Scientific Organization: The Royal Institution, 1799-1844 (1978), which he thought might interest me.  Not only is there some good agriculture-related material, but it intersects a number of different interests on this blog.  The book is actually in itself an interesting case to study from a historiographical point of view, which will be the subject of a separate post.

In his 1803 will, Edward Goat referred to the Royal Institution as the “New Society of Husbandry &c lately established in Albermarle Street”

Berman shows quite nicely that the foundation of the Royal Institution (RI) in 1799 was part and parcel of the late 18th-century enthusiasm for estate improvement and philanthropy.  As he argues, “It is not customary to see the RI, the SBCP [Society for Bettering the Condition of the Poor, est. 1796], and the Board of Agriculture as a triad, but it was the same set of social and economic developments that brought them into being and gave them a similar, if not common agenda; and it was roughly the same group of men who sat on their governing boards” (2).

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Neglected Connections between the Histories of Science and Economics, Pt. 1 January 17, 2011

Posted by Will Thomas in Uncategorized.
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Although historians of science have not traditionally shown a strong interest in the history of economic thought, developing such an interest would make good professional sense, in particular because epistemological issues in economics and the natural sciences have long been intertwined in less than obvious ways.  Historians would do well to familiarize themselves with historical epistemological debates around economic thought, such as the Methodenstreit of the 1880s, because important ideas like “science”, “objectivity”, and “impersonality” have meanings that, in much of the historical commentary on them, were specifically associated with debates surrounding the validity of social scientific abstraction, and the important distinctions that were made between the goals of theorization and normative practice.

Aside from brushing up on the historical meanings of certain terms, historians of science also have an opportunity to lend additional clarity to the historical connections between thinking about science and thinking about politics, society, and economy.  Intellectual historians and philosophers of economics, and of science more generally, have studied the more explicit historical debates surrounding political economy and its connections to the methods of science, say, in the thought of John Stuart Mill (1806-1873) or Karl Marx (1818-1883).  Additionally, the transfer of metaphors between domains has received good attention, particularly in the area of evolutionary theory: from the economics of Thomas Malthus (1766-1834) to Charles Darwin (1809-1882), or from evolutionary theory back into Herbert Spencer’s (1820-1903) social theory (on this blog, also see Chris Renwick’s discussion of Patrick Geddes).

There is further important work to be done in straight-up intellectual history, but additional opportunities may be found in the history of intellectual practices that provide the context in which ideas make sense. (more…)