This is now the fifth course reading list I have posted from the valuable collection of University of Chicago lecture notes taken by the economist Norman Kaplan. The other four syllabi are from courses taught by Douglas, Friedman, Lange, and Mints. Today we have the “Working Bibliography” that Frank Knight provided students taking his graduate course on the history of economic thought. I have managed to add a good number of links to the items he cited just as I have for the analogous course offered at Harvard by Joseph Schumpeter in 1940.
Incidentally, the distinguished economic historian Stanley Engerman is the person to whom we all owe an enormous debt of gratitude. Professor Engerman was a colleague and friend of Norman Kaplan at the University of Rochester. After Kaplan’s death Engerman helped sort through the papers left in his deceased colleague’s office, spotted the extraordinary collection of extensive student notes for Kaplan’s years at the University of Chicago and then had the notes shipped to the University of Chicago Archives.
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[Course Announcement]
[Economics] 302. History of Economic Thought. Brief survey of the whole field of economic thought and a more intensive study of the “classical school” of British economists, whose doctrines are studied in relation to the problems and discussions of today. Prereq: Econ 301 or equiv. Win: TuThu 3:30-5; Knight.
Source: University of Chicago, Announcements–The College and the Divisions, Sessions of 1945-1946, p. 216.
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ECONOMICS 302
HISTORY OF ECONOMIC THOUGHT
Winter 1946
Working Bibliography
General Character of the Course: A very brief survey of economic thought prior to the “classical school,” with chief attention devoted to the latter, especially to the price and distribution theory of Smith, Ricardo, Senior and Mill. Limited reference to Historical or Socialistic Schools. Matter outside the classical doctrine to be obtained chiefly from reading.
General Works (“Manuals”)
Ferguson, John M., Landmarks of Economic Thought.
Gray, Alexander, The Development of Economic Doctrine.
Two recent books very readable, and excellent within their scope. Gray has nothing on the historical schools. Neither is adequate on the classical writers.
Roll, Erich, History of Economic Thought. Somewhat Marxist slant.
Haney, L. H., History of Economic Thought. The fullest book covering the field; table of contents gives a fairly good arrangement of authors into groups or tendencies.
[1920 edition]
Ingram, J. K., A History of Political Economy. Briefer than Haney, and usable.
Spann, O., History of Economics. Translated from the German. Valuable for its intense opposition to the viewpoint of the classical school in favor of an organismic or universalistic standpoint. [Original: Othmar Spann, Die Haupttheorien der Volkswirtschaftslehre, 17th ed. 1928.]
Schumpeter, Joseph, Epochen der Dogmen- und Methodengeschichte, contained in Grundriss der Sozialökonomik Vol. I. [English translation]
Oncken, A. Geschichte der National Ökonomie. (Down to Adam Smith).
Gide, C., and Rist, C., History of Economic Doctrines (in French, or Translated from the French). (Begins with the Physiocrats). A competent but uninspired book. Emphasis on French work and on the socialistic schools.
Scott, William A., The Development of Economics. Covers modern period, beginning with background of classical economics. Excellent summaries, notable omissions (esp. Mathematical economists).
Whittaker, Edmund, A History of Economic Ideas. The best book in the field in content but massive, confusing, and repetitious through organization on the topical principle. First half deals with institutional and intellectual history rather than analytical economic thought. [Cf. his Schools and Streams of Economic Thought. Chicago: Rand McNally, 1960.]
Heimann, Eduard, History of Economic Doctrines. An Introduction to Economic Theory. Oxford University Press, 1945. Pp. ix, 263 (245). More introduction than history.
Salin, Edgar, Geschichte der Volkswirtschaftslehre. Covers the field briefly in an interpretive, historical-philosophical manner.
Encyclopedias; esp. Palgrave, Dictionary of Political Economy. (Ed. Henry Higgs 1926) and the Encyclopedia of the Social Sciences; on men and movements, and especially, Bibliographies. [Palgrave, 1912-1915. Vol I (A-E), Vol II (F-M), Vol III (N-Z)]
See Bibliographical Notes in Haney (above) 3d Revised Edition, 1936, pp. 803-809.
On the Whole Period before the Classical School
Monroe, A. E. Early Economic Thought. Lengthy excerpts from some twenty important writers.
Oncken, A. See under General Works.
Sewall, H. R. The Theory of Value before Adam Smith, Publications of the American Economic Association, 1901.
Dunning, W. A., History of Political Theories, Ancient and Modern; also ibid. From Luther to Montesquieu. (Pre-classical economic thought being essentially political thought.)
Greco-Roman Economics
Simey, Miss E., article entitled “Economic Theory among the Greeks and Romans.” Economic Review, 1900. Copies on reserve. Best short account.
Laistner, M. L. W., Greek Economics. Valuable introduction and excerpts.
Calhoun, G. M., Business Life of Ancient Athens. Introduction and text valuable for background.
Medieval
Ashley, W. J. English Economic History and Theory, Vol. 1, pt. I, Chap. 3, and Vol. I, Pt. II, Chap. 6. Best general account.
O’Brien, Geo., An Essay on Medieval Economic Teaching. Highly important, especially because written from a Catholic point of view.
Tawney, R. H., Religion and the Rise of Capitalism. Chapter One, on The Medieval Background
Mercantilism
Heckscher, Eli F., Mercantilism, 2 vols. [Volume One; Volume Two]
Horrocks, J. W., A Short History of Mercantilism.
Schmoller, Gustav, The Mercantile System. Ashley Economic Classics. Invaluable also as a specimen of the German historical economics. Inquire at desk. E11.
Ashley, W. J. The Tory Origin of Free Trade Policy, in the Quarterly Journal of Economics, Vol. 11. Also in Surveys Historical and Economic.
Johnson, E. A. J. The Predecessors of Adam Smith.
Mun, Thomas, England’s Treasure by Forraign Trade. Ashley Economic Classics
Furniss, E. S., The Position of the Laborer in a System of Nationalism.
Viner, J., English Theories of Foreign Trade before Adam Smith, in Journal of Political Economy, Vol. 38, nos. 3 and 4. Reprinted in Studies in the Theory of International Trade, Harpers, 1937.
Physiocrats
(Given very little attention in this course.)
Higgs, Henry, The Physiocrats.
Ware, Norman, article on “The Physiocrats” in American Economic Review, 1931.
Bloomfield, Arthur I., Foreign Trade Doctrines of the Physiocrats. American Economic Review, Volume XXVIII, no. 4, December 1938 (Reprint on Reserve).
Turgot, A. R. J., Formation and Distribution of Riches. (Ashley Economic Classics.)
Classical School
Whitaker, A. C., Labor Theory of Value in English Political Economy. Nearly essential, if obtainable (Purchase).
Bowley, Marian, Nassau Senior and Classical Economics (Purchase, alternative to Whitaker). Better, but more difficult.
Cannan, Edwin, Theories of Production and Distribution. Valuable, but laborious reading.
Cannan, Edwin, Review of Economic Theory. Used selectively, more available than his other book.
Taussig, F. W. Wages and Capital (London School Reprint).
Knight, F. H. The Ricardian Theory of Production and Distribution. Reprint from the Canadian Journal of Economics and Political Science.
Cannan, Edwin, (ed.), Lectures of Adam Smith.
Smith, Adam, Wealth of Nations. Full text, Everyman’s Library (2 vols.) or Modern Library (Reprint of Cannan edition—1 vol.) most available. Abridged edition edited by W. J. Ashley gives portions covered in the course conveniently in one small volume. Cannan edition (2 vols.) the definitive edition, but expensive and bulky for class use.
Ricardo, David, Principles of Political Economy. Available in Everyman’s Library (1 vol.) Gonner edition best. (London, C. Bell and Sons: Bohn’s Libraries). [Sraffa edition]
Senior, N. W., Outline of Political Economy. Reprinted 1938, Allen and Unwin.
Mill, J. S., Principles of Political Economy. Ashley ed., Longmans, 1 vol.
Subjective Value or Marginal Utility School
Smart, Wm., Introduction to the Theory of Value.
Jevons, W. S. Theory of Political Economy.
Wieser, F., Natural Value.
Smart’s prefaces to Böhm-Bawerk’s two main volumes and to Wieser, Natural Value.
Böhm-Bawerk, Capital and Interest and Positive Theory of Capital.
Weinberger, Otto. Die Grenznutzenschule.
Mises, Ludwig, Bemerkungen zum Grundproblem der subjektivistischen Wertlehre, contained in Archiv für Sozialwissenschaft und Sozialpolitik, Band 59, Heft 1.
Historical and Institutional and Socialistic Schools
See articles in Palgrave’s Dictionary of Political Economy and in the Encyclopedia of the Social Sciences.
Source: University of Chicago Archives. Norman Maurice Kaplan Papers. Box 1, Folder 10.
Image Source: University of Chicago Photographic Archive, apf1-03516, Special Collections Research Center, University of Chicago Library.