13.1   The labour theory of value

We have seen that, for the latter half of his life, Karl Marx, exiled in Britain far from the political or possible revolutionary fray, spent the last years of his life searching for the mechanism by which the economics of capitalism would inevitably and ineluctably give rise to its own revolutionary overthrow. In short, the mechanism by which the capitalist class would be expropriated by the revolutionary proletariat, which would then proceed to usher in the various stages of communism.

14.1  The French laissez-faire school

14.2  Frédéric Bastiat: the central figure

14.3  The influence of Bastiat in Europe

14.4  Gustave de Molinari, first anarcho-capitalist

14.5  Vilfredo Pareto, pessimistic follower of Molinari

14.6  Academic convert in Germany: Karl Heinrich Rau

14.7  The Scottish maverick; Henry Dunning Macleod

14.8  Plutology: Hearn and Donisthorpe

14.1   The French laissez-faire school

John Stuart Mill’s conquest of British economics by his 1848 treatise, The Principles of Political Economy, succeeded in imposing a miasma upon British economics for at least a quarter-century. In some respects, indeed, the subjectivist (or, in its trivialized label, the ‘marginalist’) revolution against Mill, led abortively by Jevons in the 1870s, never really took hold in Great Britain.

Overall bibliographies

J.B. Say

Jeremy Bentham

James Mill

David Ricardo and the Ricardian system

The anti-Ricardians

The bullionist controversy

Currency and banking schools

John Stuart Mill

In Mill’s shadow: Cairnes and the inductivists

Socialist and Marxist thought

The French laissez-faire school and its influence

As we noted in Volume I, it is impossible for a bibliographical essay in a comprehensive history of economic thought to list, much less to annotate, every source for the history, much less for the important ancillary fields of history of social, political and religious thought, all of which, in addition to economic history proper, impinge on the development and conflicts in economic thought. The best I can do, then, is to describe and annotate those sources, largely secondary ones, which I found most helpful in working on this study.

A  |  B  |  C  |  D  |  E
G  |  H  |  I  |  J  |  K
L  |  M  |  N  |  O  |  P
Q  |  R  |  S  |  T  |  U
V  |  W

A

About, Edmond 444

Abrams, M.H. 358, 367, 495-6

absolute advantage theory 97

ECONOMIC

Controversies

The Ludwig von Mises Institute dedicates this volume to all of its generous donors and wishes to thank these Patrons, in particular:

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Joseph Edward Paul Melville
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Stefano Quadrio Curzio

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Controversies

MURRAY N. ROTHBARD