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John Maurice Clark
The first comprehensive study of the life and works of John Maurice Clark (1884-1963), who continued the work of his father, John Bates Clark (1847-1938) by developing a new dynamic economic theory, often referred to as 'Social Economics'. Although J.M. Clark's contributions anticipated much of Keynes', he went much further: exploring ethics, overhead costs, business cycles, methodology, and social control. Clark argued that costs were not precise terms and new forms of social control were needed in addition to the market.
Classics in Institutional Economics, Part II, Volume 6
By the time of the interwar years the varied approaches often grouped together under the banner of Institutionalism had become firmly established as one of the most influential schools of thought in American economics. This is a collection of writings on the topic.
Cost, Uncertainty and Welfare
First published in 1998. This work contributes to the discussion of Knight by showing that uncertainty broadens the conception of economic welfare, and that a new cost analysis holds the key to unlocking the Knightian corpus. It develops Knight's suggestion that uncertainty-control costs can be reduced - arguing that the large firm enjoys economic rent from utilizing its dominant vantage point in the market. The author demonstrates that while Knight provides the intellectual stimulus which propelled Chamberlin's thesis of monopolistic competition, Chamberlin uses a very abstract form of uncertainty in his analysis.
Three Discourses on Uncertainty
While Knight remains highly significant to economics, this work shows that Knight remains largely misunderstood, largely because Knight has not been placed within a larger philosophical context. Crucially, it can be asserted that the debate over uncertainty is at least as old as the philosophy of Aristotle. Drawing upon this prolonged dispute within philosophy, this work proposes three discourses on uncertainty in economics. Discourse One initiates discussion by observing that uncertainty was a key debate, from the work of Machiavelli through to Locke and Hegel. Discourse Two focuses on the narrow philosophical base of Knight, within the wider philosophical horizon, as sketched in Discourse ...
The Marginal Productivity Theory of Distribution
John Pullen presents a critical history of the concept of the Marginal Profit Theory of Distribution looking at the contributions of its proponents (eg Stigler) and its critics (eg Pareto) and stressing the continuity of the debate.
