Most late 19th-century US economists gave a rather cool welcome to the Sherman Act (1890) and, though less harshly, to the Clayton and FTC Acts (1914). A large literature has identified several explanations for this surprising attitude, calling into play the relation between big business and...

Professor Narmadeshwar Jha was a noted scholar on History of Economic Thought that took its shape under the influence of Alfred Marshall. His widely referred book - The Age of Marshall: Aspects of British Economic Thought, 1890-1915 – was written under the supervision of Professor A.J. Brown...

Wage Dispersion and Efficiency. It is often assumed that markets generate efficient allocations, but these are not necessarily fair. The widening of wage differentials that is currently observed is interpreted in this manner: Skill-biased technological progress increases demand for skilled work...

Customs and institutions affect and are affected by economic relations and processes. The two-way interaction is particularly important in studying history where the scale of the temporal canvas ensures that very few variables can be treated as parametric. This paper assesses the methodology...

This is Chapter 6 from Social Economics: An Alternative Theory (St. Martin's Press, 1991) There were issues of complexity, time and change which Alfred Marshall recognized as essential aspects of his subject but which were not readily dealt with by the 'scientific' techniques which he was...

This is Chapter 7 from Social Economics: An Alternative Theory (St. Martin's Press, 1991) Since Alfred Marshall's time, it has become ever more difficult to draw attention to the need for something besides technique to bridge the gap between the world that (presumably) exists outside our heads...