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Intellectual Influences on Allyn Young

In: Allyn Abbott Young

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  • Ramesh Chandra

Abstract

This chapter discusses intellectual influences on Young. He was a Ph.D. student of Richard Ely, who in turn was a student of Karl Knies, and Young was influenced by both. He was attracted to Ely’s ‘look and see’ method and commended Knies for not succumbing to the temptation of deciphering universal laws from historical studies. Young was also influenced by Adam Smith’s theory of growth and cast it in terms of cumulative causation. Young used Marshall’s Principles of Economics in class but made his own modifications and additions. He used Marshall’s concept of external economies and Veblen’s concept of cumulative causation in his theory of growth. He commended the English political economy for its method.

Suggested Citation

  • Ramesh Chandra, 2020. "Intellectual Influences on Allyn Young," Great Thinkers in Economics, in: Allyn Abbott Young, chapter 2, pages 33-68, Palgrave Macmillan.
    • Handle: RePEc:pal:gtechp:978-3-030-31981-6_2
    DOI: 10.1007/978-3-030-31981-6_2
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