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Political Economy And The ‘Modern View’ As Reflected In The History Of Economic Thought


  • Mário Graça Moura

    () (FEP.UP)

  • António Almodovar

    () (FEP.UP)


This paper focuses on the gradual decomposition of classical political economy and its transformation into ‘economics’, a process which was to culminate in the conception of ‘theory’ as a mere engine of analysis. Why exactly did modern ‘economics’ become accepted? What was meant to be achieved – and was it? And why did some writers reject both old political economy and modern economics? We intend to contribute to an understanding of these issues by analysing a set of representative histories of economic ideas from this period: those by Luigi Cossa (1880), John Kells Ingram (1915, originally published in 1888), and Charles Gide and Charles Rist (1915).

Suggested Citation

  • Mário Graça Moura & António Almodovar, 2012. "Political Economy And The ‘Modern View’ As Reflected In The History Of Economic Thought," FEP Working Papers 476, Universidade do Porto, Faculdade de Economia do Porto.
  • Handle: RePEc:por:fepwps:476

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    References listed on IDEAS

    1. Tony Lawson, 2006. "The nature of heterodox economics," Cambridge Journal of Economics, Oxford University Press, vol. 30(4), pages 483-505, July.
    2. John B. Davis, 2008. "The turn in recent economics and return of orthodoxy," Cambridge Journal of Economics, Oxford University Press, vol. 32(3), pages 349-366, May.
    3. Manuela Mosca, 2005. "De Viti de Marco, historian of economic analysis," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 12(2), pages 241-259.
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    More about this item


    : History of Economic Thought; Methodology; Classical Economics.;

    JEL classification:

    • B1 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925
    • B4 - Schools of Economic Thought and Methodology - - Economic Methodology

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