The book consists of eight chapters divided into three parts. The first part is devoted to the historical back ground of Ricardo’s thought (Hume, Smith, Thornton etc). It serves to bring in relief the originality of Ricardo’s thought in the historical context. The second and central part consists of four chapters discussing the most important aspects of Ricardo’s monetary thought: Ricardo and quantity theory of money, the ideal monetary regime conceived by Ricardo very early in his career and matured till the last moment of his life, plan for the establishment of a national bank. In this part, the relation between the quantity of money and its value in Ricardo’s theory is examined in a new light and Ricardo as a non-quantity theorist. The two chapters in the third and last part discuss the problems raised after Ricardo in relation to his monetary thought.
Tracing Ricardo's economic thought to the early 19th century, this book may provide readers insight to help them understand the present day financial crises through his works.
Lord Robbins (1898-1984) was a remarkably accomplished thinker, writer, and public figure. He made important contributions to economic theory, methodology, and policy analysis, directed the economic section of Winston Churchill's War Cabinet, and served as chairman of the Financial Times. As a historian of economic ideas, he ranks with Joseph Schumpeter and Jacob Viner as one of the foremost scholars of the century. These lectures, delivered at the London School of Economics between 1979 and 1981 and tape-recorded by Robbins's grandson, display his mastery of the intellectual history of economics, his infectious enthusiasm for the subject, and his eloquence and incisive wit. They cover a broad chronological range, beginning with Plato, Aristotle, and Aquinas, focusing extensively on Adam Smith, Thomas Malthus and the classicals, and finishing with a discussion of moderns and marginalists from Marx to Alfred Marshall. Robbins takes a varied and inclusive approach to intellectual history. As he says in his first lecture: "I shall go my own sweet way--sometimes talk about doctrine, sometimes talk about persons, sometimes talk about periods." The lectures are united by Robbins's conviction that it is impossible to understand adequately contemporary institutions and social sciences without understanding the ideas behind their development.
Authoritative yet accessible, combining the immediacy of the spoken word with Robbins's exceptional talent for clear, well-organized exposition, this volume will be welcomed by anyone interested in the intellectual origins of the modern world.
There remains no comprehensive account of Tooke’s contributions that is concerned with showing his lasting and ongoing influence on the development of monetary thought. The book provides an interpretation and analytical study of Tooke’s political economy from the standpoint of the classical tradition. This enables a demonstration of how his constructive contribution throws a new light on monetary thought in this tradition.
The work of the following economists is covered: Locke, Barbon, Vaderlint, Harris, Hume, Smith, Ricardo, Malthus, Bosanquet, Mill, Torrens, Marshall, Haberler, Austin, Stirling, Chevalier, Carines, Jevons, Leslie, Goschen, Bagehot, Wicksell, Sidgwick, Pigou, Viner, Heckscher, Ohlin, Keynes, Taussig, and Pareto.
The volume includes an extensive Bibliography of each period discussed as well as comprehensive indices of subjects and names.