This paper examines the position of Thomas Tooke (1774-1858) on the issues at the centre of the Bullionist controversies, which occurred during the restriction of cash payments by the Bank of England in the period 1797-1821. It shows that Tooke was a strong supporter of resumption and the gold...

The paper discusses Sraffa's consecutive attempts in the late 1920s and early 1940s to tackle a problem which endangered his objectivist, surplus-based approach to the theory of value and distribution aimed at reviving the standpoint of the classical economists. Whilst with circulating capital...

Among other innovative and important contributions to the formation of political economy, William Petty is the originator of the concept of an economic or social surplus, a vital element in the formation of classical economics. It therefore is a natural and intriguing question, how Petty came to...

The article deals with the development and reception of the so-called theory of internal goods, which is to be considered as one of the most fascinating contributions of Russian intellectual history to economic thought. The theory of internal goods investigates the connections between cultural...

This paper examines the method of analysis and theoretical approach Thomas Tooke (1774-1858) employed in his empirical study of English prices. It is shown that Tooke adopted the “long period method” formulated by Adam Smith to analyse a capitalist society. It is shown that like most...

The paper argues that economics is not a perfect selection mechanism that preserves each and every economic idea that is valid and useful and jettisons all ideas that are not. The teleological view of the subject cannot be sustained. Therefore the task of the history of economic thought cannot...

This paper outlines Marshall's use of Smith's writings in his own published work as an aspect of Marshall's citation practice and to demonstrate Marshall's great admiration for Smith as economist. Section 2 reviews the Smith citations in Marshall's Principles of Economics', section 3 those in...

This paper discusses the roots of input-output analysis in 'classical' economics. The authors considered include Petty and Cantillon; Quesnay, the physiocrats and their critic Isnard; Smith, Ricardo, Torrens and Dmitriev; Marx, von Bortkiewicz and von Charasoff; Leontief; and Remak. It is argued...

Concept of rationality is crucial in economics. Different notions of rationality have accompanied its long journey, from that implied in classical economics to those proposed by neoclassical theory since 1870s. The paper also discusses the meaning of rationality in rational choice theory, the...