As one of the most famous economists of the twentieth century, Paul Anthony Samuelson revolutionized many branches of economic theory. As a diligent student of his predecessors, he reconstructed their economic analyses in the mathematical idiom he pioneered. Out of Samuelson's more than eighty articles, essays, and memoirs, the editors of this collection have selected seventeen. Twelve are mathematical reconstructions of some of the most famous work in the history of economic thought - work by David Hume, François Quesnay, Adam Smith, Karl Marx, and others. One is a methodological essay defending the Whig history that he was sometimes accused of promulgating; two deal with the achievements of Joseph Schumpeter and Denis Robertson; and two review theoretical developments of his own time: Keynesian economics and monopolistic competition. The collection provides readers with a sense of the depth and breadth of Samuelson's contributions to the study of the history of economics.
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'This book's editors begin with the observation that 'perhaps 20 percent' of Paul Samuelson's scholarly publications 'are clearly identifiable as studies of the history of economic thought' (HET). As a tribute to this intellectual bequest, they have, with Samuelson's animated collaboration, republished 17 of his HET papers and provided an exhaustive bibliography.' William Coleman, Economic Record
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This collection of writings by Paul Samuelson illustrates the depth and breadth of his contribution to the history of economics.
| Acknowledgments |
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ix | |
| Introduction |
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1 | (22) |
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23 | (14) |
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"Out of the Closet: A Program for the Whig History of Economic Science." History of Economics Society Bulletin 9 No. 1 (1987): 51--60 |
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25 | (12) |
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37 | (50) |
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"A Corrected Version of Hume's Equilibrating Mechanisms for International Trade." In John S. Chipman and Charles P. Kindleburger, eds., Flexible Exchange Rates and the Balance of Payments: Essays in Memory of Egon Sohmen. Amsterdam: North-Holland, 1980, pp. 141--158 |
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39 | (20) |
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"Quesnay's 'Tableau Economique' as a Theorist would Formulate it Today." In Ian Bradley and Michael Howard, eds., Classical and Marxian Political Economy: Essays in Honor of Ronald L. Meek. New York: St. Martin's Press, 1982, pp. 45--78 |
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59 | (28) |
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III Wealth of Nations and the "Canonical Classical Model" |
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87 | (46) |
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"The Canonical Classical Model of Political Economy." Journal of Economic Literature 16 (December 1978): 1415--1434 |
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89 | (28) |
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"A Modern Theorist's Vindication of Adam Smith." American Economic Review 67 (February 1977): 42--49 |
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117 | (16) |
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IV David Ricardo 131 "A Modern Treatment of the Ricardian Economy: I. The Pricing of Goods and of Labor and Land Services." Quarterly Journal of Economics 73 (February 1959): 1--35 |
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133 | (60) |
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"A Modern Treatment of the Ricardian Economy: II. Capital and Interest Aspects of the Pricing Process." Quarterly Journal of Economics 73 (May 1959): 217--231 |
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168 | (15) |
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"Mathematical Vindication of Ricardo on Machinery." Journal of Political Economy 96 (April 1988): 274--282 |
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183 | (10) |
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V Johann Heinrich von Thunen |
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193 | (34) |
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"Thunen at Two Hundred." Journal of Economic Literature 21 (December 1983): 1468--1488 |
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195 | (32) |
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227 | (76) |
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"Wages and Interest: A Modern Dissection of Marxian Economic Models." American Economic Review 47 (December 1957): 884--912 |
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229 | (31) |
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"Marx as Mathematical Economist: Steady-State and Exponential Growth Equilibrium." In George Horwich and Paul A. Samuelson, eds., Trade, Stability and Macroeconomics: Essays in Honor of Lloyd A. Metzler. New York: Academic Press, 1974, pp. 269--307 |
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260 | (43) |
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VII Post-"Classical" Political Economy |
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303 | (42) |
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"What Classical and Neoclassical Monetary Theory Really Was." Canadian Journal of Economics 1 (February 1968): 1--15 |
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305 | (19) |
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"A Modern Post-Mortem on Bohm's Capital Theory: Its Vital Normative Flaw Shared by Pre-Sraman Mainstream Capital Theory." Journal of the History of Economic Thought 23 (September 2001): 301--317 |
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324 | (21) |
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VIII Retrospectives on Early Modern Economists |
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345 | (50) |
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"Schumpeter as an Economic Theorist." In Helmut Frisch, ed., Schumpeterian Economics. London: Praeger, 1982, pp. 1--27 |
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347 | (28) |
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"D. H. Robertson (1890--1963)." 77 (November 1963): 517--536 |
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375 | (20) |
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IX Revolutions in Twentieth-Century Economics |
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395 | (52) |
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"Lord Keynes and the General Theory." Econometrica 14 (July 1946): 187--200 |
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397 | (15) |
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"The Monopolistic Competition Revolution." In R. E. Kuenne, ed., Monopolistic Competition Theory: Studies in Impact. Essays in Honor of Edward H. Chamberlin. New York: John Wiley, 1967, pp. 105--138 |
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412 | (35) |
| Samuelson's Publications in the History of Economic Thought |
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447 | (10) |
| Index |
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457 | |
Steven G. Medema is Distinguished Professor of Economics and the director of the University Honors and Leadership Program at the University of Colorado, Denver. The author of more than 100 books and articles, his latest book, The Hesitant Hand: Taming Self-Interest in the History of Economic Ideas (2009), was awarded the 2010 ESHET Book Prize. His articles have appeared in journals such as the Journal of the History of Economic Thought, History of Political Economy, the Journal of Economic Perspectives, and Economica. Dr Medema was elected president of the History of Economics Society for the 200910 term and served on its executive committee from 1999 to 2012. He also served on the scientific council of the European Society for the History of Economic Thought (ESHET) and is currently a member of the ESHET executive committee. Dr Medema teaches courses in price theory and the history of economic thought and in 2008 was designated a University of Colorado President's Teaching Scholar. He is currently working on a book project tentatively titled, Legal Fiction: An Intellectual History of the Coase Theorem. Anthony M. C. Waterman is a Fellow of St John's College, Winnipeg, and Professor Emeritus of Economics at the University of Manitoba. He read economics at the University of Cambridge (BA, 1954), studied theology at St John's College, Winnipeg (BTh, 1962), and earned a PhD in economics at the Australian National University (1968). Waterman has held visiting appointments at the University of Oxford, the University of Sussex, the University of Cambridge, the Australian National University, and Boston College. He has published many articles, book chapters, and encyclopedia entries since 1965 on economics, theology, the relation between the two, the history of economic thought, and intellectual history. He is the author of nine previous books, including Revolution, Economics and Religion (Cambridge, 1991), for which he was awarded the Forkosch Prize for Intellectual History in 1992, and Political Economy and Christian Theology since the Enlightenment. Waterman was elected Distinguished Fellow of the History of Economics Society in 2007. He is currently working on papal social doctrine as economic thought.
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