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The Old Generation Of Economists And The New: An Intellectual Historian’S Approach To A Significant Transition

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  • WINCH, DONALD

Abstract

The article contrasts an intellectual history perspective on the transition from classical to neo-classical economics with doctrinal accounts of the marginal revolution. Marshall’s opinions on the mixture of theoretical, methodological, and moral and political elements involved in the generational divide shows that more was at stake than accounts in which theory alone is stressed suggest. It is also argued that in other respects less was at stake: drawing a sharp dividing line between pre- and post-marginal treatments of policy issues does not do justice to underlying continuities in the empirical utilitarian tradition. The article is dedicated to the memory of R. D. C. (Bob) Black, whose work on Jevons illustrates the benefits of an intellectual historian’s approach to this significant transition in economic thinking.

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  • Winch, Donald, 2010. "The Old Generation Of Economists And The New: An Intellectual Historian’S Approach To A Significant Transition," Journal of the History of Economic Thought, Cambridge University Press, vol. 32(01), pages 23-37, March.
  • Handle: RePEc:cup:jhisec:v:32:y:2010:i:01:p:23-37_99
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    3. Colander, David, 2003. "The Aging of an Economist," Journal of the History of Economic Thought, Cambridge University Press, pages 157-176.
    4. O'Brien, Denis P, 1988. "Lionel Charles Robbins, 1898-1984," Economic Journal, Royal Economic Society, vol. 98(389), pages 104-125, March.
    5. Robbins, Lionel [Lord], 1981. "Economics and Political Economy," American Economic Review, American Economic Association, vol. 71(2), pages 1-10, May.
    6. Keynes, John Neville, 1890. "The Scope and Method of Political Economy," History of Economic Thought Books, McMaster University Archive for the History of Economic Thought, edition 4, number keynes1890.
    7. Colander, David, 1993. "The Lost Art of Economics: Response," Journal of Economic Perspectives, American Economic Association, vol. 7(3), pages 213-215, Summer.
    8. Daniel T. Slesnick, 1998. "Empirical Approaches to the Measurement of Welfare," Journal of Economic Literature, American Economic Association, vol. 36(4), pages 2108-2165, December.
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