<title>Abstract</title> In <italic>The Economics of Welfare</italic>, Pigou develops the idea of what will be widely known as ‘Pigouvian tax’. Together with the concept of externality, they constituted two of the most important founding elements of modern welfare economics. Many have suggested that, on the way he treated...

Marshall’s contribution to welfare economics is often summarized in the analytical tools developed in his Principles of Economics. Nonetheless, Marshall’s welfare economics cannot be reduced to the analysis developed in Principles. There are other writings where it is possible to find a more...

Institutionalism did exert a great influence both in the academia and in politics in the interwar period. However, after World War II, it lost ground and was pushed behind the scenes, although some distinguished exponents reached a remarkable success. In the 1970s, a new and very different kind...

The role of expectations and of their disappointment in determining economic fluctuations was first studied by the great economists of the 1930s. Amongst them is Marco Fanno. Fanno’s most popular contributions on this topic are his 1931 article Cicli di produzione, cicli del credito e...

At the end of the Seventies, a new consensus was taking the lead in economic theory on the perfect rationality of agents, the ineffectiveness of economic policies and, therefore, on the possibility to sustain experiments of monetary integration worldwide. Among the few Authors who still believed...

This is a unique and detailed book which surveys the diffusion and reception of Alfred Marshall’s ideas and the ways they have influenced the development of economic science up to the present day.

This unique and original work contends that, despite the differences between Marshallian and Schumpeterian thinking, they both present formidable challenges to a broad type of social science beyond economics, particularly under the influence of the German historical school. In a departure from...

This highly illuminating book marks a significant stage in our growing understanding of how the development of national traditions of economic thought has been affected by both internal and external factors.