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Economists in Parliament in the Liberal Age (1848-1920) PDF

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ECONOMISTS IN PARLIAMENT IN THE LIBERAL AGE (1848-1920) This page intentionally left blank Economists in Parliament in the Liberal Age (1848-1920) Edited by MASSIMO M. AUGELLO MARCO E.L. GUIDI Università di Pisa, Italy First published 2005 by Ashgate Publishing Published 2016 by Routledge 2 Park Square, Milton Park, Abingdon, Oxon OX14 4RN 711 Third Avenue, New York, NY 10017, USA Routledge is an imprint of the Taylor & Francis Group, an informa business Copyright © 2005 Massimo M. Augello and Marco E.L. Guidi Massimo M. Augello and Marco E.L. Guidi have asserted their right under the Copyright, Designs and Patents Act, 1988, to be identified as the editors of this work All rights reserved. No part of this book may be reprinted or reproduced or utilised in any form or by any electronic, mechanical, or other means, now known or hereafter invented, including photocopying and recording, or in any information storage or retrieval system, without permission in writing from the publishers. Notice: Product or corporate names may be trademarks or registered trademarks, and are used only for identification and explanation without intent to infringe. British Library Cataloguing in Publication Data Economists in parliament in the liberal age (1848-1920) 1. Economists - Political activity - History - 19th century 2. Economists - Political activity - History - 20th century 3. Economics - Political aspects - History - 19th century 4. Economics - Political aspects - History - 20th century 5. Legislators - History - 19th century 6. Legislators - History - 20th century 7. Economists - Biography 8. Legislators - Biography I. Augello, Massimo M. II. Guidi, Marco E. L. (Marco Enrico Luigi), 1958- 330'.0922 Library of Congress Control Number: 2005929793 ISBN 9780754639657 (hbk) I SBN 9781138258877 (pbk) Contents List of Contributors vii Foreword xi 1 Economists in Parliament in the Liberal Age: A Comparative Perspective Massimo M. Augello and Marco E.L. Guidi 1 2 Political Economy in Portuguese Parliamentary Debates (1820-1910) António Almodovar and José Luís Cardoso 27 3 Economists in the Belgian Parliament (1831-1918) Guido Erreygers and Bert Mosselmans 49 4 Chair, Tribune and Seat: Spanish Economists in Parliament (1844-1923). An Exploration Salvador Almenar 75 5 Economists in Parliament in Britain (1848-1914) Roger E. Backhouse 103 6 French Economists in Parliament from the Second Republic to the Outbreak of the Great Crisis (1848-1929) Yves Breton 129 7 German Economists in Parliament (1848-1918) Harald Hagemann and Matthias Rösch 163 8 Economists and Political Economy in the Italian Parliament from the Unification to the Rise of the Fascism (1861-1922) Massimo M. Augello and Marco E.L. Guidi 191 9 Economists in the Greek Parliament (1862-1910): The Men and Their Views on Fiscal and Monetary Policy Michalis Psalidopoulos and Adamantios Syrmaloglou 229 10 Economists in the Japanese Diet (1890-1930): The Debate on Adoption of the Gold Standard Jiro Kumagai 259 vi Economists in Parliament in the Liberal Age 11 The American Anomaly: Why were there no Economists in the US Congress? Bradley W. Bateman 289 Index of Names 303 List of Contributors Salvador Almenar, born 1949, is Professor of History of the Economic Thought at the University of Valencia, Spain. He has recently published several works on classical, industrialist and Keynesian economics, and on the history of economet- rics in Spain. He is co-editor and contributor of the important collection on the history of Spanish economic thought entitled Economía y economístas españoles (Galaxia Gutenberg – Funcas, Barcelona 1999-2000), and member of the Advisory Board of The European Journal of the History of Economic Thought. António Almodovar, born 1953, is Professor of History of Economic Thought at the University of Porto, Portugal. He is a specialist of the history of economic thought in Portugal. He has published A Institucionalização da Economia Política Clássica em Portugal (Edições Afrontamento, Porto 1995), co-authored A History of Portuguese Economic Thought (Routledge, London 1998), and edited Estudos sobre o pensamento económico em Portugal (Facultade de Economia, Universida- de do Porto, Porto 1990). He is a member of the Editorial Board of The European Journal of the History of Economic Thought. Massimo M. Augello, born 1949, is Professor of History of Economic Thought at the University of Pisa, Italy. He has published books and articles on the French industrialist school and the Italian economic thought. He is also the author of Joseph Alois Schumpeter. A Reference Guide (Springer, Berlin 1990). He has recently co-edited The Spread of Political Economy and the Professionalisation of Economists (Routledge, London 2001), La scienza economica in Parlamento 1861- 1922 (Angeli, Milan 2002), and Gli economisti in Parlamento 1861-1922 (Angeli, Milan 2003). He is the managing editor of Il pensiero economico italiano and member of the Advisory Board of History of Economic Ideas and Storia del pensiero economico. Roger E. Backhouse, born 1951, is Professor of the History and Philosophy of Economics at the University of Birmingham, England. He has recently published The Penguin History of Economics (Penguin, London 2002, available in the USA as The Ordinary Business of Life, Princeton University Press), and co-edited Toward a History of Applied Economics (Duke University Press, Durham, NC 2000) and Macroeconomics and the Real World (Oxford University Press, New York 2000). He is currently editing (with Bradley Bateman) The Cambridge Companion to Keynes. He has been review editor of the Economic Journal, and editor of the Journal of Economic Methodology, and is associate editor of the Journal of the History of Economic Thought. viii Economists in Parliament in the Liberal Age Bradley W. Bateman, born 1956, is Gertrude B. Austin Professor of Economics at Grinnell College, Iowa, USA. For many years, his research focused on J.M. Keynes. Currently, most of his work focuses on the influence of religion in the formation of professional economics in America. Among his recent publications there are Keynes’s Uncertain Revolution (Un. of Michigan Press, Ann Arbor 1996), ‘Clearing the Ground: The Demise of the Social Gospel Movement and the Rise of Neoclassicism in American Economics’ (History of Political Economy, 1998), ‘Bringing in the State?: The Life and Times of Laissez-Faire in the 19th Century United States’ (History of Political Economy, 2005). Yves Breton, born 1942, is Research Director at CNRS, Centre Auguste et Léon Walras, University of Lyon 2, France. He is a specialist in the history of French economic thought (1800-1940). He co-edited L’économie politique en France au XIXe siècle (Economica, Paris 1991), and La longue stagnation en France. L’autre grande dépression (1873-1897) (Economica, Paris 1997). With Gérard Klotz and other researchers of the École Nationale Supérieure des Ponts et Chaussées, he is working to the critical edition of Jules Dupuit’s works (1804-1866). José Luís Cardoso, born 1956, is Professor of Economics at the Technical Univer- sity of Lisbon, Portugal. He has published several articles and books on the history of economic thought in Portugal: O pensamento económico em Portugal nos finais do seculo XVIII (Estampa, Lisboa 1989); Pensar a economia en Portugal: digressões históricas (Difel, Miraflores 1997). He is co-author of A History of Portuguese Economic Thought (Routledge, London 1998). He is the general editor of the series Classics of Portuguese Economic Thought, and managing editor of The European Journal of the History of Economic Thought. Guido Erreygers, born 1959, is Professor of Economics at the University of Antwerp, Belgium. He obtained his PhD from the Université Paris X - Nanterre. His main fields of research include the history of economic thought, linear produc- tion models, and basic income/basic capital. He widely published on international journals such as The European Journal of the History of Economic Thought, Journal of Economics and The Manchester School. Marco E.L. Guidi, born 1958, is Professor of History of Economic Thought at the University of Pisa, Italy. He has published books and articles on Bentham and classical utilitarianism and the Italian economic thought. He has recently co-edited The Spread of Political Economy and the Professionalisation of Economists (Routledge, London 2001), La scienza economica in Parlamento 1861-1922 (Angeli, Milan 2002), and Gli economisti in Parlamento 1861-1922 (Angeli, Milan 2003). He is chief-editor of Il pensiero economico italiano and member of the Editorial Board of The European Journal of the History of Economic Thought, and of the Advisory Board of Storia del pensiero economico. List of Contributors ix Harald Hagemann, born 1947, is Professor of Economic Theory at the University of Hohenheim, Stuttgart, Germany. He is also a Life Member of Clare Hall, Uni- versity of Cambridge and Research Professor at the German Institute for Economic Research DIW in Berlin. His main areas of research are growth, structural change, new technologies and employment and the history of economic analysis. He is editor of Business Cycle Theory. Selected Texts 1860-1939 (4 vols, Pickering & Chatto, London 2002) and co-editor of Growth Theory and Growth Policy (Routledge, London 2003). He is a member of the Council of the European Society of the History of Economic Thought and of the Editorial Board of The European Journal of the History of Economic Thought. Jiro Kumagai, born 1938, is Professor of Economic History at St Andrews Uni- versity, Osaka, Japan. He has published many works on the economic history and on the history of economic thought in nineteenth-century Japan. He also contrib- uted to S. Sugihara and T. Tanaka (eds), Economic Thought and Modernization in Japan (Elgar, Cheltenham 1998). Bert Mosselmans, born 1969, is Associate Professor of Economics and Philoso- phy at the Roosevelt Academy in Middelburg, the liberal arts and sciences honours college of the University of Utrecht. His main field of research is the history of economic thought. He prepared his PhD on William Stanley Jevons at the Free University of Brussels, published widely in international journals and books and held previous positions at the Universities of Bristol, Antwerp and Utrecht. Michalis Psalidopoulos, born 1950, is Professor of History of Economic Thought at Panteion University of Political and Social Sciences, Athens, Greece. His re- search focuses on national traditions in the history of economics, especially in Greece and the relation between economic thought and economic policy. He co- edited Economic Thought and Policy in Less Developed Europe. The 19th Century (Routledge, London 2003). His most recent article is ‘The Society for the Freedom of Trade in Greece, 1865-67. Rise, Activities, Decline’ (Journal of the History of Economic Thought, 2005). Matthias Rösch, born 1973, is Ph.D. of Economics at the University of Hohen- heim, Stuttgart. His doctoral thesis concerning investment wage and profit sharing schemes was published in 2004. In 2000 he made postgraduate studies at the University of Bologna. Together with Harald Hagemann he contributed an article on ‘The Reception of Italian economic thought in Germany and Austria from 1900 to the Second World War’ to P.F. Asso (ed.), From Economists to Economists. The International Spread of Italian Economic Thought, 1750-1950 (Polistampa, Firenze 2001). Adamantios Syrmaloglou, born 1974, is a Ph.D. candidate at the Department of Sociology, Panteion University of Political and Social Sciences, Athens, Greece.

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