tailieunhanh - History of Economic Analysis part 100

History of Economic Analysis part 100. At the time of his death in 1950, Joseph Schumpeter-one of the major figures in economics during the first half of the 20th century-was working on his monumental History of Economic Analysis. A complete history of humankind's theoretical efforts to understand economic phenomena from ancient Greece to the present, this book is an important contribution to the history of ideas as well as to economics. | History of economic analysis 952 appended to this chapter. Meanwhile I am content to point out that measures of the kind envisaged by Marshall come within the range of any reasonable definition of planning. No doubt he only scratched the surface. But any proposition that avers that a piece of planning can improve upon the working of ideally perfect competition means a breach in an old wall and is therefore of great historical importance. No mere criticism of capitalism on ethical or cultural lines however important in other respects could have accomplished precisely this. Others Edgeworth and Pareto among them were not slow to widen the Of far greater importance was another achievement. Three leaders von Wieser Pareto and Barone who were completely out of sympathy with socialism created what is to all intents and purposes the pure theory of the socialist economy and thus rendered a service to socialist doctrine that socialists themselves had never been able to render. As we know Marx himself had not attempted to describe the modus operandi of the centralist socialism which he envisaged for the future. His theory is an analysis of the capitalist economy that is no doubt geared to the idea that this economy by means of the inevitable breakdown and of the dictatorship of the proletariat resulting from this breakdown will give birth to the socialist economy but there is a full stop after this and no theory of the socialist economy that deserves the name Most of his disciples as we also know evaded the problem instead of meeting it though some Kautsky in particular did display awareness of its existence by pointing out that the socialist regime after the revolution would be able to use the pre-existing capitalist price system as a provisional guide an idea that points in the right direction. Now the Austrians were in the habit of using the model of a Crusoe economy for the purpose of explaining certain fundamental properties of economic standpoint of