1 John Maynard Keynes, The General Theory of Employment, Interest and Money（London，1936），Chapter 24.
2 T. S.Kuhn, The Structure of Scientific Resolutions，2nd edn（Chicago, IL，1970）.
3 Charles Whitworth, ed.，The Political and Commercial Works of that celebrated writer Charles Davenant（5 vols, London，1771），vol. I, p.98.
第一章1 Adam Smith, Lectures on Jurisprudence, ed. R.L.Meek, D.D.Raphael and P.G.Stein[1762-3]（Oxford，1978），p.105；Adam Smith, Correspondence of Adam Smith, ed.E.C.Mossner and I.S.Ross, Glasgow Edition of the Works and Correspondence of Adam Smith（Oxford，1987），p.245.
2 Adam Smith, An Inquiry into the Nature and Causes of the Wealth of Nations[1776]，ed. William B.Todd（Oxford，1975），p.648.
3 Ibid.，p. 493.
4 Smith, Correspondence, p. 192.
5 Mark Blaug, Economic Theory in Retrospect，4th edn（Cambridge，1982），p. 35.
6 David Gauthier, Morals by Agreement（Oxford，1986），p. 13（quote）；George Stigler，‘Economics or Ethics?'，in Tanner Lectures on Human Values, ed.S.McMurrin（Salt Lake City, UT，1981），vol.II, p.188.
7 Jerry Evensky，‘“Chicago Smith”versus“Kirkcaldy Smith”'，History of Political Economy, XXXVII/2（2005），pp. 197-203.
8 Jacob Viner，‘Adam Smith and Laissez Faire'，in Adam Smith，1776-1926，ed. J.M.Clark et al.（New York，1928），pp.116-20.
9 George Stigler，‘Smith's Travels on the Ship of State'，History of Political Economy, III（1971），p. 265.
10 Smith, The Wealth of Nations, p. 28.
11 Smith, Correspondence, p. 68.
12 Adam Smith, The Theory of Moral Sentiments[1759]，ed. A.L.Macfie and D.D.Ra-phael（Indianapolis, IN，1984），p.22.
13 Ibid.，p. 117.
14 Francis Hutcheson, An Essay on the Nature and Conduct of the Passions and Affections, with Illustrations on the Moral Sense[1728]，ed. Aaron Garrett（Indianapolis, IN，2002），p.17.
15 Smith, Theory of Moral Sentiments, p. 305.
16 Ibid.，pp.126-7.
17 Ibid.，p. 309.
18 Ibid.，p. 129.
19 Ibid.，p. 84.
20 Ibid.，p. 92.
21 Ibid.，p. 110.
22 Ibid.，p. 234.
23 See Steven L. Kaplan, Bread, Politics and Political Economy in the Reign of Louis XV（The Hague，1976）.
24 Smith, The Wealth of Nations, pp. 14-15.
25 Ibid.，p.25.
26 Ibid.，pp. 26-7.
27 Ibid.，p. 37.
28 Ibid.，p. 44.
29 Ibid.，p. 48.
30 Ibid.，p. 82.
31 Ibid.，p. 73.
32 Ibid.，p. 98.
33 Ibid.，pp. 111-13.
34 Blaug, Economic Theory, pp. 39-49.
35 James Tobin，‘The Invisible Hand in Modern Macroeconomics'，in Adam Smith's Leg-acy：His Place in the Development of Modern Economics, ed. Michael Fry（London，1992），pp.122-4.
36 Lawrence E. Klein，‘Smith's Use of Data'，in Adam Smith's Legacy, ed.Fry, pp.15-28.
37 Smith, The Wealth of Nations, p. 321.
38 Ibid.，pp.324，308-9.
39 Ibid.，p. 324.
40 Ibid.，p. 380.
41 Ibid.，p. 415.
42 Ibid.，pp. 418-19.
43 Ibid.，pp. 421，422.
44 Ibid.，p. 456.
45 Emma Rothschild, Economic Sentiments：Adam Smith, Condorcet, and the Enlighten-ment（Cambridge, MA，2001），pp. 135（ironic），137（trinket）.
46 Smith, Theory of Moral Sentiments, p. 87.
47 Ibid.，pp. 183-4.
48 Karl Marx, Economic and Philosophic Manuscripts of 1844，trans. Martin Mulligan（Moscow，1959），p.63.
49 Smith, The Wealth of Nations, pp. 781-2.
50 Ibid.，p. 785.
51 Patricia Werhane, Adam Smith and His Legacy for Modern Capitalism（Oxford，1991），pp. 134-6.
52 Smith, Theory of Moral Sentiments, p. 213.
53 Ibid.，p. 216.
54 Jean Jacques Rousseau, The Social Contract and Discourses[1762]，trans. G.D.H.Cole（London，1973），p.116.
55 Smith, Theory of Moral Sentiments, p. 216.
56 Ibid.，pp. 86-7.
第二章1 Richard F. Teichgraeber III，‘“Less abused than I had reason to expect”：The Reception of The Wealth of Nations in Britain'，Historical Journal, XXX/2（1987），p.351.
2 David Ricardo, On the Principles of Political Economy and Taxation[1817]（London，1911）.
3 D. P.O'Brien, The Classical Economists（Oxford，1978），p.xii.
4 Accominotti and Flandreau counsel that Ricardo would have opposed bilateral treaties. Olivier Accominotti and Marc Flandreau，‘Bilateral Treaties and the Most-Favored Nation Clause：The Myth of Trade Liberalization in the Nineteenth Century'，World Politics, LX/2（2008），pp.147-88.
5 Adam Smith, The Wealth of Nations, Books I-III[1776]（London，1986），pp. 109-17.
6 ‘It is not from the benevolence of the butcher, the brewer, or the baker that we expect our dinner, but from their regard to their own interest，'ibid.，p. 119.
7 Ricardo, Principles, p. 125.
8 Eric Roll, A History of Economic Thought，5th edn（London and Boston，1992），p. 131.
9 Ricardo, Principles, pp. 126-33.
10 Perhaps it is not a coincidence that Ricardo chose Portugal and England given his family history.
11 The famous economist Paul Samuelson was once asked to name one proposition in the social sciences that was both true and non trivial. He named Ricardo's theory of comparative advantage.Costinot and Donaldson note that the theory may be mathe-matically true, but that it may not be empirically valid.See Arnaud Costinot and Dave Donaldson，‘Ricardo's Theory of Comparative Advantage：Old Idea, New Evidence'，American Economic Review, CII/3（2012），pp.453-8.
12 John Maynard Keynes is the subject of a later chapter. His concept of a demand-deficient economy would fit this situation.
13 David Ricardo, Essay on the Funding System（London，1820）.
14 More recently, Robert J. Barro attempted to build a more formal model using the assumption of rational expectations.His work reinvigorated the debate surrounding Ricardian equivalence.See Robert J.Barro，‘Are Government Bonds Net Wealth?'，Journal of Political Economy, LXXXII/6，pp.1095-117.
15 Hansard，‘Agricultural Distress, House of Commons Debate 30 May 1820，vol. 1 CC.635-93'，www.hansard.millbanksystems.com, accessed 15 August 2016.
16 Hansard，‘Agricultural Distress'，p. 675.
17 Ibid.
18 David Ricardo, The Works and Correspondence of David Ricardo, vol. I：On the Principles of Political Economy and Taxation, ed.Piero Sraffa with the collaboration of M.H.Dobb（Cambridge，1951），p.67.
19 Jacob H. Hollander, Centenary Estimate（New York，1968），p.13.
20 For instance, The Wealth of Nations was a course text for a political economy course at the College of William and Mary from 1784 onwards. On average only 23 students per year attended the college in the last decades of the eighteenth century.Teichgrae-ber，‘Reception'，p.344.
21 Teichgraeber，‘Reception'，pp. 350-51.
22 Hollander, Centenary Estimate, p. 20.
23 Terry Peach, Interpreting Ricardo（Cambridge，1993）.
24 Ibid.
25 Malthus, although an Anglican, was sent to undertake some of his education within a‘Dissenting Academy'. Patricia James, Population Malthus：His Life and Times（Oxford，2006），p.19.The Dissenters or non Conformists were Protestants who would not conform to the teaching of the established Church of England.Quakers were non Conformists so both Malthus and Ricardo had links to non Conformism.I am indebted to Emma Clery for her knowledge of Malthus's educational background.
26 J. R.McCulloch, The Works of David Ricardo with a Notice of his Life and Writings of the Author（London，1871），p.xvii.
27 David Ricardo, The Works and Correspondence of David Ricardo, vol. VI：Letters，1810-1815，ed.Piero Sraffa with the collaboration of M.H.Dobb（Cambridge，1951），p.340.
28 At this time, many normative arguments proceeded from ideas about the correct so-cial order as ordained by the Almighty. Notably, theological arguments and biblical quotations could be used to condemn the financial sector, but also to support the institution of slavery.For arguments about the financial sector see Roll, History of Economic Thought, pp.31-41.For an example of Christian support for slavery, see Travis Glasson，‘“Baptism does not bestow Freedom”：Missionary Anglicanism, Slav-ery, and the Yorke Talbot Opinion，1701-30’，William and Mary Quarterly, LXVII/2（2010），pp.304-7.It cites George Berkeley, philosopher and bishop, and his views on the requirement of slaves to remain obedient to the existing order.Berkeley apparent-ly believed that‘the laws of God and nature must be obeyed.’
29 O'Brien, Classical Economists, p. 69.
30 Ibid.，pp. 37-8.Notably, Peach has argued against the‘Corn Model'approach to Ri-cardo's work.See Peach, Interpreting Ricardo, pp.1-6.Sraffa had argued that Ricar-do had‘formulated a literal corn model, with corn comprising the inputs and outputs in the agricultural sector, implying the determination of the rate of profit as a ratio of corn quantities’.Andrew Glyn，‘The Corn Model, Gluts and Surplus Value’，Univer-sity of Oxford Department of Economic Discussion Paper, CXCIV（Oxford，2004），pp.1-3.
31 O'Brien, Classical Economists, p. 41.
32 Ricardo, Letters, pp. 212-36.
33 Ibid.，p. xiii.
34 Ricardo, Principles, p. x.
35 Ricardo, Letters, p. xvii.
36 Ibid.，pp. xxi-xxii.
37 McCulloch, Works of David Ricardo.
38 Ibid.，p. v.
39 Roll, History of Economic Thought, p. 155.
40 Quoted ibid.
41 Quoted ibid.
42 Ricardo, Letters, pp. xiii-xli.
43 Terry Peach，‘Ricardo, David（1772-1823）'，www. oxforddnb.com，16 August 2016.
44 Hollander, Centenary Estimate, p. 28.
45 Ibid.，p. 29.
46 Ibid.，p. 32.Garraway's was situated in Exchange Alley（now known as Change Al-ley）where much share trading took place.A carved stone sign marks its position to-day.The sign also incorporates Thomas Gresham's symbol of a grasshopper.Gresham founded the Royal Exchange where Abraham was a broker.
47 Peach, Interpreting Ricardo.
48 Hollander, Centenary Estimate, p. 34.
49 Abraham Gilam，‘A Reconsideration of the Politics of Assimilation'，Journal of Mod-ern History, L/1（1978），p. 103.
50 Ibid.，p. 104.
51 Quakers were often conflated with other groups, including Cromwell’s Puritans, who were seen to be disloyal to the monarch and the state.The‘Friends’themselves had sometimes disrupted Anglican church services or been openly critical of the elite.Richard L.Greaves，‘Seditious Sectaries or“Sober and Useful Inhabitants”?Chang-ing Conceptions of the Quakers in Early Modern Britain’，Albion, XXXIII/1（2001），pp.24-50.
52 Gilam，‘Reconsideration of the Politics of Assimilation'，p. 105.
53 ‘The struggle for civil rights for English Jews took place during the years 1830-60 and generated a substantial public debate'. Ibid.，p.104.
54 Heinz D. Kurz and Neri Salvadori, The Elgar Companion to David Ricardo（London，2015），p.222.
55 Ibid.
56 Hansard，‘Bank of England-Resumption of Cash Payments, House of Commons Debate 25 May 1819，vol. 40 cc.750-800'，www.hansard.millbanksystems.com, ac-cessed 16 August 2016.
57 Brian Cathcart, The News from Waterloo：The Race to Tell Britain of Wellington's Vic-tory（London，2015）.
58 Brian Cathcart，‘Nathan Rothschild and the Battle of Waterloo，'Rothschild Archive Review of the Year（2013），pp. 11-18.
59 ‘Schumpeter'，‘Conflicts of Interest’，www.economist.com，27 January 2011.
60 Waterloo teeth were dentures made from the teeth of men who had fallen at Waterloo. Their teeth were hacked out by battlefield scavengers and sold to dentists.Gareth Glover, Waterloo：Myth and Reality（Barnsley，2014），p.202.
61 In other words, he was helping the government to finance the war.
62 Cathcart, News from Waterloo. Eagles were military standards.
63 Gatcombe Park is now owned by the Queen's only daughter, Princess Anne. The spelling seems to have originally been Gatcomb.
64 Ricardo's will states that he was resident in Grosvenor Square and Gatcomb（or Gat-combe）Park. National Archives, PROB 11/1676/151.1823.
65 Joseph A. Schumpeter, History of Economic Analysis（New York，1954），p.472.The health resort in question was Bath.
66 Hollander, Centenary Estimate, p. 12.
67 Ricardo, Principles, p. 7.
68 Ibid.，pp. 7-13.
69 Say's law is known to undergraduate economists by the simplification that‘supply creates its own demand’.Producers of a good will sell it and then use their income to buy other goods elsewhere.Say supported a laissez faire approach to the market as the‘law’states that general oversupply or gluts cannot occur.The details are a little more complicated in Say’s own writings, but this is the basic idea.
70 The Physiocrats were French economic thinkers writing before Adam Smith. Roll, History of Economic Thought, pp.111-20.
71 Ibid.，pp. 114-15.
72 Ibid.，pp. 158-62.
73 Ricardo, Principles, p. 11.
74 G. S.L.Tucker，‘Ricardo and Marx'，Economica, XXVIII/111（1961），pp.252-3.
75 George J. Stigler，‘Ricardo and the 93%Labor Theory of Value'，American Economic Review, XLVIII/3（1958），p.357.
76 Christian Gehrke，‘The Ricardo Effect：Its Meaning and Validity'，Economica, LII/277（2003），p. 143.
77 Hansard，‘Resumption of Cash Payments'.
78 Roll, History of Economic Thought, pp. 175-7.
79 Thomas Robert Malthus, An Essay on the Principle of Population（London，2001），p. 54.
80 Sheilagh Ogilvie，‘“Whatever is, is right”?Economic Institutions in Pre industrial Eu-rope'，Economic History Review, LX/4（2007），pp. 649-84.Ogilvie noted that this is an‘urban myth'and that Carlyle was in fact arguing in favour of the reintroduction of slavery（which is truly dismal）.
81 Malthus, Essay on the Principle of Population, p. 87.
82 Ibid.，p. 18.
83 Ricardo, Letters, pp. 118-20.Ricardo wrote to Malthus in 1811 that he‘had a bed always at your disposal'.Ricardo had sent Malthus a man uscript with a request that‘should you be so engaged that you cannot devote your attention to it……use no ceremony with me, but return the MS[manuscript]by the coach.'Ricardo, Letters, pp.60-61.There are other pleasing instances of the closeness between the two.For example, Malthus ends one letter with‘The bell rings I must finish Ever truly Yours T R Malthus’and another with‘I am interrupted by the Postman and must conclude.’Ricardo, Letters, pp.223-5.
84 Ibid.，p. 90.
85 Ibid.，p. 178.
86 Ibid.，p. 179.
87 Ricardo, Principles, p. 23.
88 Gary M. Anderson, David M.Levy and Robert D.Tollison，‘The Half Life of Dead Economists'，Canadian Journal of Economics, XXII/1（1989），p.177.
89 Royal Economic Society，‘Current Topics：Ricardo Bicentenary'，Economic Journal, LXXXII/372（1972），pp. 1019-20.
90 Ibid.
91 There were of course handbooks regarding how to trade in stocks. See, for instance, Thomas Mortimer, Every Man His Own Broker, or, A Guide to Exchange-Alley（Lon-don，1761）.Ricardo was attempting something much greater than a mere instructional manual for budding investors.
92 David Ricardo, The Works and Correspondence of David Ricardo（11 vols），ed. Piero Sraffa with the collaboration of M.H.Dobb（Cambridge，1951-73）.
93 A. Heertje, D.Weatherall and R.W.Polak，‘An Unpublished Letter of David Ri-cardo to Francis Finch，24 February 1823'，Economic Journal, XCV/380（1985），pp.1091-2.
94 S. G.Checkland，‘Essays in Bibliography and Criticism：xix.David Ricardo'，Eco-nomic History Review, IV/3（1952），p.372.
95 ‘Memoranda of Convictions, General'held at Gloucestershire Archives Q/PC/2/48/A/36.
96 Ricardo, Letters, p. 340.
97 Ibid.，p. 312.
第三章1 On Smith and Ricardo, see chapters in this volume. Jeremy Bentham（1748-1832）was the highly eccentric English founder of British utilitarianism.The Anglican Rev-erend Thomas Robert Malthus（1766-1834）was the famous author of An Essay on the Principle of Population.On James Mill, see below.
2 For a more extensive exploration of both the roots and intellectual offspring of Mill's political economy of progress, see Joseph Persky, The Political Economy of Progress：John Stuart Mill and Modern Radicalism（New York，2016）. For a broad treatment of Mill as a political economist, see Samuel Hollander, John Stuart Mill：Political Econ-omist（Singapore，2015）.
3 First and foremost by Mill himself in his Autobiography（1871），which ranks as one of the most riveting examples of the genre：Mill, Autobiography, in The Collected Works of John Stuart Mill, ed. John Robson and Jack Stillinger（Toronto，1981），vol.I.For a good recent biography, see Richard Reeves, John Stuart Mill：Victorian Fire-brand（London，2007）.Bruce Mazlish, in James and John Stuart Mill：Father and Son in the Nineteenth Century（New York，1975），puts forward an interesting psy-chohistory of Mill and his father.While somewhat speculative, it is suggestive in its attempts to link Mill's economics to his childhood and early adult experiences.
4 Mazlish, James and John Stuart Mill, p. 353.
5 Mill, Autobiography, p. 7.
6 Mill, Early Draft[of his autobiography]，in The Collected Works of John Stuart Mill, ed. John Robson and Jack Stillinger（Toronto，1981），p.6.
7 Mill, Autobiography, p. 53.
8 Mill, Early Draft, p. 52.
9 Ibid.，p. 612.
10 One possible explanation is offered by Robson. Mill wrote much of the Autobiogra-phy after he had married Harriet Taylor, a marriage his mother and the rest of his fam-ily found difficulty with.Robson, The Collected Works, p.xvii.
11 Mill, Autobiography, p. 9.
12 Ibid.，pp. 23，25.
13 Ibid.，p. 33.
14 Ibid.，p. 35.
15 Ibid.，p. 37.Mill is honest enough to admit that‘various persons'thought him‘greatly and disagreeably self conceited'（p.37）.In his early draft he also noted that his mother‘taxed'him with not showing proper respect to his elders, but‘for her remonstrances I never had the slightest regard'.Mill, Early Draft, p.36.
16 Or again：‘Think（he used to say）of a being who would make a Hell-who would create the human race with the infallible foreknowledge, and therefore with the intention, that the great majority of them were to be consigned to horrible and everlasting torment.'Mill, Autobiography, p. 43.
17 Ibid.，p. 83.
18 On this incident see Dudley Miles, Francis Place：The Life of a Remarkable Radical，1771-1854（New York，1988），p. 149.
19 Mill, Autobiography, p. 137.
20 Ibid.，pp. 137-9.
21 Mazlish goes a good deal further, seeing Mill's existential crisis as an intense Oedipal crisis. Mazlish, James and John Stuart Mill, pp.206-10.
22 Mill, Autobiography，166-7.
23 For an excellent discussion of Mill's approach to autonomy and self development, see Wendy Donner, The Liberal Self：John Stuart Mill's Moral and Political Philosophy（Ithaca, NY，1991）.
24 Mill comments that during his depressive periods（they did not end with his first crisis, but apparently abated）‘the doctrine of what is called Philosophical Necessity weighed on my existence like an incubus'. Mill concludes that‘we have real power over the formation of our own character；that our will by influencing some of our cir-cumstances can modify our future habits or capabilities of willing’.Mill, Autobiogra-phy, p.169.
25 For a highly readable treatment of Mill's relation to Harriet Taylor（as well as chapters on several other eccentric Victorian couples）see Phyllis Rose, Parallel Lives：Five Victorian Marriages（New York，1983）. Surprisingly, the Mill-Taylor relationship is also the subject of a major work by Friedrich Hayek, John Stuart Mill and Harriet Taylor（Chicago, IL，1951）.
26 According to Rose‘it seems to have been a sincere interest in women's rights that brought Mrs. Taylor and Mill together.'Rose, Parallel Lives, p.291.Throughout the 1830s and'40s Harriet's husband tolerated and even financially supported the relationship, which she maintained was non sexual.
27 Mill, Autobiography, p. 257.
28 Ibid.，p. 254.
29 Ibid.，p. 255.
30 Peter Nicholson，‘The Reception and Early Reputation of Mill's Political Thought'，in The Cambridge Companion to Mill, ed. John Skorupski（Cambridge，1998）.
31 Ibid.
32 Persky, Political Economy of Progress, pp. 169-71.
33 For example, consider Robert Owen, the Welsh socialist pioneer and founder of co-operatives, on the topic of competition. He held that competition produced‘waste of capital and labour'.But these were‘small evils compared to the extent of injurious feeling, violent passions, vices, and miseries unavoidably attendant on a system of individual competition'.Robert Owen, Manifesto of Robert Owen，6th edn（London，1840），p.47.
34 Mill, Principles, p. 794.
35 Ibid.，p. 201.In this speculation, Mill fully anticipates the position of the radical‘luck egalitarians'.See Joseph Persky，‘Utilitarianism and Luck'，History of Political Econ-omy, XLV/2（2013），pp.287-309.
36 Mill, Principles, p. 208.
37 Ibid.，p. 207.
38 Ibid.，p. 707.
39 Adam Smith, An Inquiry into the Nature and Causes of the Wealth of Nations[1776]（New York，1937），Book 2，Chapter Three.
40 Notice that this definition shares with Smith a‘material fallacy’.By contrast, Marx argues that any labour on which a capitalist can make a profit should be considered productive：see discussion in Helen Boss, Theories of Surplus and Transfer（Boston, MA，1990），pp.83-6 and 92-6.Thus a musical troupe putting on performances for profit are viewed as productive by Marx, but not by Mill and Smith.In the mid-nineteenth century the difference between these two definitions would not have been quantitatively significant.
41 Mill, Principles, p. 411.Mill, here, fully anticipates Marx's division of the working day-a point Marx never acknowledges.Indeed, Marx maintained a deep hostility to-wards Mill.Early in the twentieth century, the Russian Ladislaus Bortkiewicz argued，‘one will not go wrong if one connects the ill will which Marx display towards Mill, with the circum stance that Mill had basically anticipated Marx's theory of surplus value.'Quoted in Samuel Hollander, The Economics of John Stuart Mill（Toronto，1985），pp.341-2.
42 Mill, Principles, p. 740.
43 Ibid.，p. 757.
44 John Stuart Mill, The Subjection of Women[1869]，in The Collected Works of John Stuart Mill-Essays on Economics and Society Part II, ed. John M.Robson（Toronto，1984），vol.XXI, p.298.
45 Mill, Principles, p. 740.
46 Ibid.，p. 736.
47 Ibid.，p. 738.
48 Again, the parallels to Marx are very strong. Marx, too, had a list of‘counteracting tendencies'to the tendency for the profit rate to fall.That list very much resembled Mill’s.See Bernice Shoul，‘Similarities in the Work of John Stuart Mill and Karl Marx’，Science and Society, XXIX/3（1965），pp.270-95.
49 Jean Charles Leonard de Sismondi（1773-1842）was a Swiss economist（and histori-an）who, although not a socialist, pioneered the theory of overproduction.
50 Mill, Principles, p. 741.
51 Ibid.，p. 743.
52 Ibid.，p. 746.
53 Ibid.，p. 752.
54 Ibid.，p. 754.
55 Ibid.，p. 762.
56 Ibid.
57 Ibid.，p. 767.
58 Ibid.，p. 768.
59 Ibid.
60 Ibid.，p. 763.
61 Ibid.，p. 766.
62 Ibid.，p. 769.
63 Charles Babbage, On the Economy of Machinery and Manufacturing[1835]，4th edn（New York，1963），p. 251.
64 For a discussion of late nineteenth century support for profit sharing and an associat-ed reluctance to endorse Mill’s broader schemes of cooperation, see Joseph Persky，‘Producer Co operatives in Nineteenth century British Economic Thought’，European Journal of the History of Economic Thought, XXIV/2（2017），pp.319-40.
65 Mill, Principles, p. 775.
66 In a sense, Mill here anticipates Keynes's prediction of the‘euthanasia of the rentiers'as interest rates fall towards minimal levels. John Maynard Keynes, The General The-ory of Employment, Interest and Money（New York，1936），chapter 24.
67 Mill, Principles, p. 792.
68 Ibid.
69 Ibid.，pp. 793-4.
70 For a discussion of Schumpeter's position that argues he may have overstated Mill's contribution see Michael Bradley，‘John Stuart Mill's Demand Curves'，History of Political Economy, vol. XXI/1.
71 John Chipman，‘A Survey of the Theory of International Trade：Part 1，The Classical Theory'，Econometrica, XXXIII/3（1965），p. 486.Again, the extent of Mill's origi-nality is questioned by some.See Andrea Maneschi，‘John Stuart Mill's Equilibrium Terms of Trade：A Special Case of William Whewell's 1850 Formula'，History of Po-litical Economy, XXXIII/3（2001），pp.609-25.
72 Thomas Sowell, On Classical Economics（New Haven, ct，2006），p. 32；J.Bradford DeLong，‘This Time, It Is Not Different：The Persistent Concerns of Financial Mac-roeconomics'，in Rethinking the Financial Crisis, ed.Alan Blinder, Andrew Loh and Robert Solow（New York，2012），p.17.
73 David Levy, How the Dismal Science Got Its Name：Classical Economics and the Ur-Text of Racial Politics（Ann Arbor, MI，2001）. But note that Mill comes in for serious criticism for his role in British imperialism in India.For a cautious defence of Mill's role in India see Mark Tunick，‘Tolerant Imperialism：John Stuart Mill's Defense of British Rule in India'，Review of Politics, LXVIII/4（2006），pp.586-611.
74 Robert Ekelund Jr and Douglas Walker，‘J. S.Mill on the Income Tax Exemption and Inheritance Taxes：The Evidence Reconsidered'，History of Political Economy, XXVIII/4（1996），pp.559-81.
75 Hayek traced Taylor's influence to the character of Mill’s own education.In an essay Hayek chose not to publish, he engages in a bit of psychological speculation as to the source of Taylor’s influence：‘Probably by the education given him by his father in his early youth Mill’s character was so formed that he stood in need of someone whom he could adore and to whom he could ascribe all possible perfection.Behind the hard shell of complete self control and strictly rational behaviour there was a core of a very soft and almost feminine sensitiv ity, a craving for a strong person on whom he could lean, and on whom he could concentrate all his affection and admiration.’Quot-ed in Bruce Caldwell，‘Hayek on Mill’，History of Political Economy, XL/4（2008），p.699.（Notice Hayek’s characterization of Mill’s personality as‘almost feminine’echoes the widespread nineteenth century caricature of a feminized Mill.）Caldwell presents a balanced discussion of Hayek’s views of Mill and Taylor.
第四章1 Francis Wheen, Karl Marx：A Life（New York，1999），p. 1.
2 Ibid.，p. 13.
3 Ibid.，pp. 16-17.
4 Karl Marx，‘Afterword to the Second German Edition'，in Capital：A Critique of Po-litical Economy, volume I[1887]（Moscow，1977），p. 28.
5 Karl Marx，‘Economic Manuscripts of 1857-58[Grundrisse]'，in Karl Marx Freder-ick Engels Collected Works, vol. XXVIII：Marx：1857-1861（Moscow，1986），p.38.
6 Marx，‘Afterword to the Second German Edition'，p. 28.
7 Tatyana Vasilyeva，‘Preface'，in Karl Marx Frederick Engels Collected Works, vol. XXVIII：Marx：1857-1861，p.xi.
8 Marx，‘Economic Manuscripts of 1857-58[Grundrisse]'，p. 37.
9 Ibid.，p. 40.
10 Ibid.，pp. 43-4.
11 Ibid.，p. 40.
12 David McLellan, Karl Marx：His Life and Thought（New York，1973），pp. 56，59.
13 Frederick Engels，‘The Condition of the Working Class in England：From Personal Observation and Authentic Sources'，in Karl Marx Frederick Engels Collected Works, vol. IV：Marx and Engels：1844-1845[1845]（Moscow，1975），p.331.
14 McLellan, Karl Marx, p. 63.
15 Ibid.，p. 98.
16 Ibid.，pp. 105-6.
17 Velta Pospelova，‘Preface'，in Karl Marx Frederick Engels Collected Works, vol. III：Marx and Engels：1843-1844（Moscow，1975），p.xvi.
18 István Mészáros, Marx’s Theory of Alienation（London，1970），p.217.
19 Marx，‘Eco-nomic and Philosophic Manuscripts of 1844’[1844]，in Karl Marx Frederick Engels Collected Works, vol.III：Marx and Engels：1843-1844，pp.276-7.
20 Lawrence Krader, The Ethnological Notebooks of Karl Marx（Assen，1974）；Marx, Capital：A Critique of Political Economy, volume III[1894]，in Karl Marx Frederick Engels Collected Works（New York，1998），vol. XXXVII, p.818.
21 Engels，‘Dialectics of Nature'[1882]，in Karl Marx Frederick Engels Collected Works, Frederick Engels：Anti-Dühring, Dialectics of Nature（Moscow，1987），vol.XXV, pp.452-9；ibid.，p.458.
22 Marx，‘A Contribution to the Critique of Political Economy'[1859]，in Karl Marx Frederick Engels Collected Works, vol. XXIX：Marx：1857-1861（Moscow，1987），p.275.
23 Marx，‘Economic and Philosophic Manuscripts of 1844'，p. 271.
24 Ibid.，p. 275，italics in original；ibid.，p.277，italics in original.
25 Ibid.，p. 272，italics in original.
26 Ibid.，p. 273.
27 Marx, Capital：A Critique of Political Economy, volume I[1887]（Moscow，1977），p. 77.
28 Ibid.，p. 76.
29 Marx，‘Economic and Philosophic Manuscripts of 1844'，pp. 274-5.
30 Ibid.，p. 277.
31 Ibid.，p. 278.
32 Ibid.，p. 279，italics in original.
33 Peter Dickens, Society and Nature：Towards a Green Social Theory（Philadelphia，1992）；István Mészáros, Marx’s Theory of Alienation（London，1970）；Bertell Ollman, Alienation：Marx’s Conception of Man in Capitalist Society（London，1976）；Sean Sayers, Marx and Alienation：Essays on Hegelian Themes（New York，2011）；Dan Swain, Alienation：An Introduction to Marx’s Theory（London，2012）.
34 Al Gini, My Job, My Self：Work and the Creation of the Modern Individual（New York，2000），p. 55.
35 Marx，‘Economic and Philosophic Manuscripts of 1844'，p. 278，italics in original.
36 Ibid.，p. 273，italics in original.
37 Vasilyeva，‘Preface'，pp. xii, xiv.
38 Marx，‘Afterword to the Second German Edition'，pp. 22-3.
39 Engels，‘Preface to the Third German Edition'，in Capital：A Critique of Political Economy, volume I[1887]（Moscow，1977），p. 32.
40 Marx, Capital：A Critique of Political Economy, volume I, p. 44.
41 Ibid.，p. 46；ibid.，p.48.
42 Ibid.，pp. 44-5，46.
43 Ibid.，p. 46.
44 Ibid.，p. 66.
45 Ibid.
46 Ibid.，pp. 66-7.
47 David Ricardo，‘On the Principles of Political Economy and Taxation'[1821]，in The Works and Correspondence of David Ricardo, ed. Piero Sraffa and M.H.Dobb（Lon-don，1962），p.275.
48 Marx, Capital：A Critique of Political Economy, volume I, pp. 106-8.
49 Ibid.，p. 146.
50 Ibid.，p. 149.
51 Ibid.，p. 558.
52 Ibid.，p. 151.
53 Ibid.，pp. 85f.
54 Engels，‘Preface'，in Karl Marx Frederick Engels Collected Works, Karl Marx：Capi-tal：A Critique of Political Economy, volume III[1894]（New York，1998），vol. XXX-VII, pp.12-13；Karl Marx, Capital：A Critique of Political Economy, volume I, pp.156，159.
55 Adam Smith, An Inquiry into the Nature and Causes of the Wealth of Nations, ed. William B.Todd（Oxford，1975），p.83.
56 Marx, Capital：A Critique of Political Economy, volume I, pp. 164-6.
57 Ibid.，pp. 167-8.
58 Ibid.，p. 208.
59 Ibid.，p. 209.
60 Ibid.
61 Ibid.，p. 222.
62 Marx, Capital：A Critique of Political Economy, volume III, p. 230.
63 Marx, Capital：A Critique of Political Economy, volume I, pp. 225，232-3.
64 Ibid.，pp. 252-3.
65 Ibid.，pp. 256-7.
66 Jill Andresky Fraser, White-Collar Sweatshop：The Deterioration of Work and Its Re-wards in Corporate America（New York，2001），p. 20.
67 Ibid.，p. 24.
68 Ibid.，p. 42.
69 Ibid.，pp. 18-19.
70 Marx，‘Theses on Feuerbach'[1844]，in Karl Marx Frederick Engels Collected Works, vol. V：Marx and Engels：1845-18477（New York，1976），p.5，italics in original.
71 McLellan, Karl Marx：His Life and Thought, pp. 154，172.
72 Ibid.，p. 177.
73 Marx and Engels，‘Manifesto of the Communist Party'，p. 487.
74 Marx, Capital：A Critique of Political Economy, volume I, p. 585；Marx and Engels，‘Manifesto of the Communist Party'，p.488.
75 Ibid.，pp. 516，714.
76 Marx and Engels，‘Manifesto of the Communist Party'，p. 519.
77 Marx, Capital：A Critique of Political Economy, volume I, p. 715.
78 Marx and Engels，‘Preface to the 1872 German Edition of the Manifesto of the Com-munist Party'[1872]，in Karl Marx Frederick Engels Collected Works, vol. XXIII：Marx and Engels：1871-1874（Moscow，1988），pp.174-5.
79 McLellan, Karl Marx：His Life and Thought, p. 188.
80 Ibid.，pp. 190，194.
81 Ibid.，p. 198.
82 Ibid.，p. 221.
83 Ibid.，p. 225.
84 Marx，‘The Eighteenth Brumaire of Louis Bonaparte'[1852]，in Karl Marx Frederick Engels Collected Works, vol. XI：Marx and Engels：1851-1853（Moscow，1979），p.103.
85 Ibid.，p. 128.
86 Marx，‘Inaugural Address of the Working Men's International Association'[1864]，in Karl Marx Frederick Engels Collected Works, vol. XX：Marx and Engels：1864-1868（Moscow，1985），p.12.
87 Marx and Engels，‘Manifesto of the Communist Party'，p. 505.
88 Marx，‘Economic and Philosophic Manuscripts of 1844'，p. 295.
89 Marx，‘Critique of the Gotha Program'[1875]，in Karl Marx Frederick Engels Col-lected Works, vol. XXIV：Marx and Engels：1874-1883（Moscow，1989），p.87.
90 Marx，‘Economic and Philosophic Manuscripts of 1844'，p. 313.
91 McLellan, Karl Marx：His Life and Thought, pp. 264-5.
92 Ibid.，pp. 330-31.
93 Ibid.，pp. 284-5.
94 Ibid.，pp. 242，280，282.
95 Ibid.，p. 360.
96 Paul Thomas, Karl Marx and the Anarchists（Boston, MA，1980），pp. 256，260-61.
97 McLellan, Karl Marx：His Life and Thought, p. 341.
98 Paul Baran and Paul Sweezy, Monopoly Capital：An Essay on the American Economic and Social Order（New York，1966）；Immanuel Wallerstein, The Modern World-Sys-tem I：Capitalist Agriculture and the Origins of the European World-Economy in the Sixteenth Century（New York，1974）.
99 Samir Amin, Capitalism in the Age of Globalization（London，1997），pp. 95-7.
100 Joseph Stiglitz, Globalization and Its Discontents（New York，2002），p. 217.
101 Ibid.
102 Marx, Capital：A Critique of Political Economy, volume I, p. 50.
103 Ibid.，p. 173.
104 Ibid.，pp. 474-5.
105 Marx, Capital：A Critique of Political Economy, volume III, p. 103.
106 Ibid.，p. 799.
107 John Bellamy Foster, Brett Clark and Richard York, The Ecological Rift：Capitalism's War on the Earth（New York，2010）.
108 Nicholas Georgescu Roegen, The Entropy Law and the Economic Process（Cambridge, MA，1971），p. 283.
109 Ibid.，p. 304.
110 Paul Prew，‘The 21st Century World Ecosystem：Dissipation, Chaos, or Transition?'，in Emerging Issues in the 21st Century World-System：New Theoretical Directions for the 21st Century World-System, ed. Wilma A.Dunaway（Westport, ct，2003），vol.II, pp.203-19；Robert Biel, The Entropy of Capitalism（Boston, MA，2012）.
111 Marx, Capital：A Critique of Political Economy, volume III, p. 871.
第五章1 Beatrice Webb, My Apprenticeship, p. 415.Alfred never gained great popularity in his college and at the university because of‘his authoritarian streak in dealing with colleagues particularly when he himself was in a position of authority；his vanity；his false modesty and egoistical self centredness'.Peter Groenewegen, A Soaring Eagle：Alfred Marshall，1842-1924（Aldershot，1995），p.766.He was substantially misog-ynistic and particularly ruthless with some of them（as Harriet Martineau, Beatrice Potter and Helen Bosanquet）but a careful, effective and stimulating teacher with his students, especially those who, for him, were one step ahead.
2 Alfred Marshall to J. N.Keynes，4 August 1892，quoted in Groenewegen, Soaring Eagle, p.2.
3 Nineteenth century British philosophy, following the Scottish tradition, was largely focused on mental philosophy（or psychology），considered‘the queen of sciences'. W.Hamilton, Lectures on Metaphysics and Logic 1870-4，ed.H.L.Mansel and J.Veitch（Edinburgh，1877），vol.I, p.19.The Grote Club was a Cambridge philosophy dis-cussion group, founded by John Grote, Professor of Moral Philosophy at Cambridge University and Fellow of Trinity College.
4 These annotations are still preserved in the archive of the Marshall Library of Economics in Cambridge；on these subjects Marshall published some early writings on economics：‘Review of Jevons'Theory of Political Economy'，Academy, April 1872；‘Mr Mill's Theory of Value'，Fortnightly Review（1876）；The Pure Theory of Foreign Trade and Domestic Value（for private circulation，1879）. J.Whitaker, The Early Economic Writings of Alfred Marshall，2 vols（London，1975）.
5 John K. Whitaker, The Correspondence of Alfred Marshall, Economist（Cambridge，1996），vol.II, p.285.
6 For instance, Charles Booth, Thomas Brassey, Edwin Chadwick, Henry Fawcett, Be-atrice Potter, George Bernard Shaw, Sydney Webb and others.
7 John M. Keynes, Official Papers by Alfred Marshall（London，1926），p.205.Marshall was deeply involved with the Poor Law reform participating in the Royal Commis-sion on the aged poor and several interventions on issues of poverty.
8 Alfred Marshall，‘Where to House the London Poor'[1884]，in Arthur Pigou, ed.，Me-morials of Alfred Marshall（London，1925），pp. 144-5.
9 Whitaker, Correspondence, p. 399.
10 Marshall‘Lectures to Women'[1873]，in Lectures to Women, ed. Raffaelli Tiziano, Rita MacWilliams Tullberg and Eugenio Biagini（Aldershot，1995），p.106；Alfred Marshall，‘Social Possibilities of Economic Chivalry'[1907]，in Pigou, Memorials of Alfred Marshall, pp.323-46.
11 Alfred Marshall，‘Lectures to Women'，p. 106.
12 Ibid.，p. 119.
13 Alfred Marshall，‘The Future of the Working Classes'[1873]，in Pigou, Memorials of Alfred Marshall, pp. 103 and 107.
14 Alfred Marshall，‘fragment'[1922]，in Pigou, Memorials of Alfred Marshall, p. 367.
15 Rita McWilliams Tullberg，‘Marshall's“tendency to socialism”'，History of Political Economy, VII/17（1975），pp. 75-111.
16 Marshall，‘Social Possibilities of Economic Chivalry'，p. 334.
17 Alfred Marshall, Industry and Trade（London，1919），p. vii.
18 Notes of these lectures taken by Mary Paley and revised by Marshall are included in Lectures to Women.
19 Alfred Marshall, Principles of Economics[1890]，8th edn（London，1920），p. 1.
20 Ibid.，pp. 26-7.
21 Ibid.，p. 14.
22 Ibid.
23 Thorstein B. Veblen，‘The Preconceptions of Economic Science III'，Quarterly Jour-nal of Economics, XIV（1900），pp.240-69.
24 Marshall, Principles of Economics（London，1920），p. v.
25 Alfred Marshall，‘The Present Position of Economics'[1885]，in Pigou, Memorials of Alfred Marshall, p. 153.
26 Moreover，‘they did not see that the poverty of the poor is the chief cause of the weakness and inefficiency which are the causes of their poverty.’Marshall, Principles of Economics, pp.762-3.
27 Marshall to Ludwig Darmstädter，27 October 1910，in Whitaker, Correspondence, vol.III, p.269.
28 Marshall to William A. S.Hewins，29 May 1900，in Whitaker, Correspondence, vol.II, p.280.
29 Claude Guillebaud, Alfred Marshall Principles of Economics, Ninth（Variorum）Edition，（London，1961），vol. II, p.768；Marshall，‘The Present Position of Economics'，p.166.
30 Marshall, Principles of Economics, p. 781.
31 Ibid.，p. 850.
32 Ibid.，p. 366.
33 Ibid.
34 Ibid.
35 Whitaker, Early Economic Writings of Alfred Marshall, vol. II.
36 Ibid.，p. vii.
37 Ibid.，p. vi.
38 Ibid.
39 In the preface, Marshall writes：‘[This book]is an attempt to construct on the lines laid down in Mill's Political Economy a theory of Value, Wages and Profits.’
40 John Maynard Keynes，‘Alfred Marshall'，in Essays in Biography（London，1924），p. 201.
41 Neil Hart, Equilibrium and Evolution：Alfred Marshall and the Marshallians（London，2012），p. 86.
42 Marshall, Principles of Economics, pp. 315-16，367.
43 Neil Hart, Equilibrium, p. 90.
44 Marshall, Principles of Economics, p. 807.
45 Marshall to Charles W. Eliot，3 September 1895，in Whitaker, Correspondence, vol.II, p.129.
46 Marshall, Principles, p. xii.
47 Schumpeter，‘Alfred Marshall's Principles：A Semi centennial Appraisal'，American Economic Review, XXXI/2（1941），pp. 237-8.
48 Joan V. Robinson notes：‘When I came up to Cambridge, in 1922，and started reading economics, Marshall's Principles was the Bible, and we knew little beyond it.Jevons, Cournot, even Ricardo, were figures in the footnotes.’Robinson, Collected Economic Papers（Oxford，1951），vol.I, p.vii.
49 Paul Samuelson，‘Monopolistic Competition Revolution'，in Monopolistic Competition Theory：Studies in Impact. Essays in Honor of Edward H.Chamberlin, ed.R.E.Kuenne（New York，1967），p.112.
50 Alfred Marshall，‘Distribution and Exchange'，Economic Journal, VIII[1898]，p. 52.
51 Marshall, Industry and Trade, p. 6.
52 Groenewegen, Soaring Eagle, p. 715；Keynes, Essays in Biography, p.230.
53 Alfred Marshall, Money, Credit and Commerce（London，1923），p. vi.
54 Groenewegen, Soaring Eagle, pp. 193-203；Whitaker, Early Economic Writings of Alfred Marshall, sec.3.4 and vol.III；also Whitaker, Correspondence, vol.II, pp.36-84.
55 Marshall to Alfred W. Flux，8 March 1898，in Whitaker, Correspondence, vol.II, pp.227-8.
56 Tiziano Raffaelli, Marshall's Evolutionary Economics（London，2003），p. 49.
57 Marshall, Principles of Economics, p. 43.
58 Brian Loasby, Knowledge, Institutions and Evolution in Economics（London，1999）.
59 Katia Caldari，‘Alfred Marshall's Critical Analysis of Scientific Management’，Euro-pean Journal of the History of Economic Thought, XIV/1（2007），pp.55-78.
60 Marco Dardi，‘Alfred Marshall's Partial Equilibrium：Dynamics in Disguise'，in The Economics of Alfred Marshall. Revisiting Marshall's Legacy, ed.Richard Arena and Michel Quéré（London，2003），pp.84-112；Katia Caldari，‘Marshall and Complexity：A Necessary Balance between Process and Order’，Cambridge Journal of Economics, XXXIX/4（2015），pp.1071-85.
61 Marshall, Principles of Economics, p. 139.
62 Ibid.，p. 461.
63 Marshall，‘The Present Position of Economics'，p. 154；Marshall，‘Distribution and Exchange'，p.42.
64 Marshall, Principles of Economics, pp. XIV and 772.
65 Marshall，‘Distribution and Exchange'，p. 43.
66 Marshall refers to the important contributions given to biological perspective by Auguste Comte, Charles Darwin and particularly Herbert Spencer：Marshall, Principles of Economics, p. ix and app.C, and Whitaker, Early Economic Writings, vol.II, p.385；Marshall，‘Distribution and Exchange'，p.42.
67 Marshall, Principles of Economics, p. 249.
68 Ibid.
69 Ibid.，p. 173.
70 Katia Caldari，‘Alfred Marshall's Idea of Progress and Sustainable Development'，Journal of the History of Economic Thought, XXVI/4（2004），pp. 519-36.
71 J. M.Keynes, Official Papers of Alfred Marshall（London，1926），p.358.
72 Marshall，‘Social Possibilities of Economic Chivalry'，p. 333.
73 Ibid.，p. 336.
74 Ibid.，p. 338.
75 Alfred Marshall's archive, Folder 5. 26.
76 Ibid.，Folder 5. 37.
77 Ibid.
78 Ibid.，Folder 5. 36.
79 Groenewegen，‘Marshall on Taxation'，in Alfred Marshall in Retrospect, ed. R.McWilliams Tullberg（Aldershot，1990），p.91.
80 Ibid.
81 Keynes, Official Papers, p.338.
82 Alfred Marshall，‘National Taxation after the War'，in After-War Problems, ed. W.H.Dawson（New York，1917），p.319.
83 Ibid.，p. 322.
84 Ibid.，p. 326.
85 Marshall to Eli Filip Heckscher，28 January 1916，in Whitaker, Correspondence, vol. III, p.328.
86 Keynes, Official Papers, p.361；Marshall to the editor of The Times，13 November 1909，in Whitaker, Correspondence, vol.III, pp.235-6.
87 Groenewegen, Soaring Eagle, pp. 557-8.
第六章1 Joseph A. Schumpeter，‘Theoretical Problems of Economic Growth'[1947]，in Essays on Entrepreneurs, Innovations, Business Cycles, and the Evolution of Capitalism, ed.Richard V.Clemence（New Brunswick, NJ，1989），pp.238-9.
2 Joseph A. Schumpeter, Preface to the Japanese edition of Theorie der wirtschaftlichen Entwicklung[1937]，in Essays, p.166.
3 Joseph A. Schumpeter，‘The Creative Response in Economic History'[1947]，in Es-says, p.222.
4 Joseph A. Schumpeter，‘The Instability of Capitalism'[1928]，in Essays, p.72.
5 For Schumpeter's biography see Esben Sloth Andersen, Joseph A. Schumpeter：A Theory of Social and Economic Evolution（Basingstoke，2011）and Richard Swed-berg, Joseph A.Schumpeter：His Life and Work（Cambridge，1991），on which I draw.
6 Joseph A. Schumpeter, Das Wesen und der Hauptinhalt der theoretischen Nation-alökonomie（Leipzig，1908）.
7 Joseph A. Schumpeter, Theorie der wirtschaftlichen Entwicklung（Leipzig，1912）.
8 Joseph A. Schumpeter，‘Epochen der Dogmen und Methodengeschichte'[1914]，trans.by R.Aris as Economic Doctrine and Method：An Historical Sketch（London，1954）.
9 Joseph A. Schumpeter，‘Das Sozialprodukt und die Rechenpfennige：Glossen und Beiträge zur Geldtheorie von heute’[1917]，trans.as‘Money and the Social Product’，International Economic Papers, VI（1956），pp.148-211；Schumpeter, Die Krise des Steuerstaates[1918]，trans.as‘The Crisis of the Tax State’，reprinted in The Eco-nomics and Sociology of Capitalism, ed.Richard Swedberg（Princeton, NJ，1991），pp.99-140；Schumpeter，‘Zur Soziologie der Imperialismen’[1919]，trans.as‘The Sociology of Imperialisms’，reprinted in Economics and Sociology, pp.141-219；Schumpeter，‘Sozialistische Möglichkeiten von heute’，Archiv für Sozialwissenschaft und Sozialpolitik, XLVIII（1920），pp.305-60；Schumpeter，‘Die sozialen Klassen im ethnisch homogenen Milieu’[1927]，trans.as‘Social Classes in an Ethnically Homo-geneous Environment’，reprinted in Economics and Sociology, pp.230-83；Schum-peter，‘Gustav v.Schmoller und die Probleme von heute’，Schmollers Jahrbuch für Gesetzgebung, Verwaltung und Volkswirtschaft, L（1926），pp.337-88；Schumpeter, The Theory of Economic Development：An Inquiry into Profits, Capital, Credit, Inter-est, and the Business Cycle（Cambridge, MA，1934）.
10 Joseph A. Schumpeter, Business Cycles：A Theoretical, Historical, and Statistical Analysis of the Capitalist Process（New York，1939）；Schumpeter, Capitalism, Social-ism and Democracy（New York，1942）；Schumpeter, History of Economic Analysis（London，1954）.
11 See especially Richard R. Nelson and Sidney G.Winter, An Evolutionary Theory of Economic Change（Cambridge, MA，1982）.
12 Schumpeter, Wesen und Hauptinhalt, p. 7.
13 See Yuichi Shionoya, Schumpeter and the Idea of Social Science：A Metatheoretical Study（Cambridge，1997），pp. 91-123.
14 Schumpeter, Wesen und Hauptinhalt, p. 86.
15 See Esben Sloth Andersen, Schumpeter's Evolutionary Economics：A Theoretical, Historical and Statistical Analysis of the Engine of Capitalism（London，2009），pp. 3-4.
16 See Mário Graça Moura，‘Schumpeter’s Conceptions of Process and Order，’Cam-bridge Journal of Economics, XXXIX（2015），pp.1137-8.
17 Schumpeter, The Theory, pp. 80，33.
18 Ibid.，p. 76.
19 Joseph A. Schumpeter，‘Economic Theory and Entrepreneurial History'[1949]，in Essays, p.258；Schumpeter，‘The Creative Response'，p.223.
20 Schumpeter, The Theory, p. 64，n.1，emphasis removed.
21 Schumpeter, Cycles, p. 103.
22 Schumpeter，‘The Creative Response'，p. 224.
23 Schumpeter, The Theory, pp. 85，84-5，80.
24 Ibid.，pp. 69-73，116.
25 Schumpeter, Cycles, p. 117.
26 Ibid.，p. 129.
27 Ibid.，p. 125.
28 Ibid.，p. 98.
29 Joseph A. Schumpeter，‘The Analysis of Economic Change'[1935]，in Essays, p.139.
30 Schumpeter, The Theory, p. 66.
31 Schumpeter, Cycles, pp. 131，135.
32 Ibid.，p. 137.
33 Schumpeter, The Theory, p. 245.
34 Schumpeter, Cycles, p. 146.
35 Ibid.，p. 145.
36 Ibid.，p. 147 n.1.
37 Ibid.，p. 149.
38 Ibid.，p. 155.
39 Ibid.，p. 173.
40 Joseph A. Schumpeter，‘The Explanation of the Business Cycle'[1927]，in Essays, p.41.
41 See Alan W. Dyer，‘Schumpeter as an Economic Radical：An Economic Sociology Assessed'，History of Political Economy, XX（1988），pp.27-41.See also Graça Mou-ra，‘Schumpeter’s Conceptions’，pp.1133-6，on which I draw extensively.
42 Schumpeter，‘Classes'，pp. 273，274.
43 Ibid.，p. 273.
44 Ibid.，pp. 277-8.
45 Ibid.，p. 274.
46 Ibid.，p. 242.
47 Ibid.，p. 253.
48 Schumpeter, Cycles, p. 103.
49 Schumpeter, The Theory, p. 86.
50 Schumpeter，‘The Instability'，p. 70.
51 Schumpeter，‘Entrepreneurial History'，p. 261.
52 Schumpeter，‘The Instability'，p. 71.
53 Schumpeter, Capitalism, pp. 82，83.
54 Ibid.，p. 86.
55 Ibid.，pp. 84-5.
56 Ibid.，p. 87.
57 Ibid.，pp. 91，102.
58 Ibid.，p. 101.
59 Ibid.，p. 134.
60 See Mário Graça Moura，‘Schumpeter and the Meanings of Rationality’，Journal of Evolutionary Economics, XXVII（2017），pp.129-31.
61 Schumpeter, Capitalism, pp. 123，124.
62 Ibid.，p. 127.
63 Ibid.，pp. 124，127.
64 Ibid.，pp. 142，157.
65 Ibid.，p. 143.
66 Ibid.，p. 167.
67 Ibid.，p. 172.
68 Schumpeter, History, pp. 886-7.
69 Ibid.，p. 12.
70 Ibid.，p. 15.
71 Joseph A. Schumpeter，‘Science and Ideology'[1949]，in Essays, pp.272-86.
72 Schumpeter, History, p. 34.
73 Ibid.，p. 38.
74 Ibid.，pp. 42-3.
75 Ibid.，p. 827.
76 Schumpeter, Wesen und Hauptinhalt, pp. 33-4.
77 Schumpeter, History, p. 242.
78 Ibid.，p. 969.
79 Ibid.，p. 242.
80 Ibid.，pp. 472，473，668.
81 Ibid.，p. 754.
第七章1 Quoted in Robert Skidelsky, Keynes：A Very Short Introduction（Oxford，2010），p. 2.
2 Quoted in Angus Burgin, The Great Persuasion（Cambridge, MA，2015），p. 62.
3 Quoted in Skidelsky, Keynes, p. 2.
4 Quoted in Burgin, The Great Persuasion, p. 28.
5 Ibid.
6 Paul A. Samuelson，‘Lord Keynes and the General Theory'，Econometrica, XIV/3（1946），p.187.
7 Lorie Tarshis, student in Cambridge in the 1930s. Quoted in Skidelsky, Keynes, p.2.
8 David Bensusan Butt, economics student in Cambridge in the 1930s. Quoted ibid.
9 A summary of what was happening in global markets during the lifetime of Keynes（as well as before and after）can be found in Victoria N. Bateman, Markets and Growth in Early Modern Europe（London，2011），Chapter One.
10 Timothy J. Hatton and Jeffrey G.Williamson, Migration and the International La-bour Market（London，1994），p.4.
11 Michael Edelstein, Overseas Investment in the Age of High Imperialism：The United Kingdom，1850-1911（New York，1982），p. 3.
12 John Maynard Keynes，‘Proposals for the Reconstruction of Europe'[1919]，reprinted in Collected Writings，30 vols（London，1971-89），vol. IX, p.20.
13 On Keynes and the British economy between the wars, see Nicholas H. Dimsdale，‘Keynes on Interwar Economic Policy'，in Keynes and Economic Policy, ed.Walter A.Eltis and Peter J.N.Sinclair（London，1988）.Also Michael Stewart, Keynes and After（Bungay，1986），Chapters Three to Six.
14 Keynes, Collected Writings, vol. XVII, pp.372-3.
15 Excerpt from Victoria N. Bateman, Markets and Growth in Early Modern Europe（London，2011），Chapter One.
16 Barry Eichengreen, Golden Fetters：The Gold Standard and the Great Depression，1919-1939（Oxford，1992）.
17 A readable and more extensive account of Keynes's theory than can be provided in this chapter, including Keynes's concepts of effective demand and the multiplier, can be found in Stewart, Keynes and After, Chapter Four. For a more technical guide to Keynes's economics, see Roger E.Backhouse and Bradley W.Bateman, The Cam-bridge Companion to Keynes（Cambridge，2006）.Recent scholarly discussion of Keynes can be found in Philip Arestis, Meghnad Desai and Sheila Dow, Money, Mac-roeconomics and Keynes：Essays in honour of Victoria Chick（Oxford，2002），and Steven Kates, ed.，What's Wrong With Keynesian Economic Theory?（Cheltenham，2016）.On Keynes's work in the context of the Global Financial Crisis, see Robert Skidelsky, Keynes：The Return of the Master（London，2009）.
18 John Maynard Keynes, General Theory of Employment, Interest and Money（London，1936），Chapter One, reprinted in Collected Writings, vol. VII.
19 John Maynard Keynes, General Theory of Employment, Interest and Money（London，1936），Chapter Twelve, reprinted in Collected Writings, vol. VII.
20 Irving Fisher，‘The Debt deflation Theory of Great Depressions’，Econometrica, I/4（1933），pp.337-57.
21 Hyman P. Minsky, Stabilizing an Unstable Economy（Yale，1986）.For a recent read-able account of the work of Minsky, see L.Randall Wray, Why Minsky Matters：An Introduction to the Work of a Maverick Economist（Princeton, NJ，2015）.
22 The reasons are briefly discussed in Burgin, The Great Persuasion, p.29.
23 Quoted ibid.
第八章1 ‘The[Austrian]cost ofl iving index, which had risen[from a base of 100 in 1914]to 1，640 by November 1918，and had gone up to 4，922 by January 1920；by January 1921 it had increased to 9，956；in January 1922 it stood at 83，000；and by January 1923 it had shot up to 1，183，600.’Richard Ebeling，‘The Great Austrian Inflation’，www.fee.org，1 April 2006.
2 Erwin Dekker, The Viennese Students of Civilization：The Meaning and Context of Austrian Economics Reconsidered（Cambridge，2016）.
3 Bruce Caldwell, Hayek's Challenge（Chicago, IL，2004），pp. 135-7.
4 Friedrich Hayek, Hayek on Hayek（Chicago, IL，1994），p. 48.
5 Carl Menger, Grundsätze der Volkswirtschaftslehre（Vienna，1871）.
6 Caldwell, Hayek's Challenge, pp. 136-40.
7 In his work on cognitive psychology, Hayek argued that the capacity to form such theories, which need not be explicitly stated or written down, was selected through evolution. Species without this trait are unable to learn from experience and, natural-ly, do not survive long.Hayek, The Sensory Order：An Inquiry into the Foundations of Theoretical Psychology[1952]（Chicago, IL，1999）.
8 Friedrich Hayek, The Counter-revolution of Science：Studies on the Abuse of Reason[1952]（Indianapolis, IN，1979）.
9 Though Carl Menger was the unquestioned father of the Austrian School, Wieser and his brother in law, Böhm Bawerk, did more than even Menger to promote the ideas of the Austrian School to the wider world.
10 Caldwell, Hayek's Challenge, pp. 143-4.
11 Ludwig von Mises，‘Economic Calculation in the Socialist Commonwealth'[1920]，in Collectivist Economic Planning, ed. F.A.Hayek（London，1935），p.92.
12 Ibid.，pp. 97-8，107-9.
13 Friedrich Hayek，‘Ludwig von Mises'[1981]，ed. Peter G.Klein, in The Collected Works of F.A.Hayek, vol.IV：The Fortunes of Liberalism, ed.Stephen Kresge（Chi-cago, IL，1992），p.136.
14 Ibid.，p. 151.
15 Friedrich Hayek, Monetary Theory and the Trade Cycle[1929]，ed. Hansjörg Klausinger, in The Collected Works of F.A.Hayek, vol.VII：Business Cycles, Part I, ed.Bruce Caldwell（Chicago, il，2012），pp.49-165.
16 Bruce Caldwell，‘Introduction'，in The Collected Works of F. A.Hayek, vol.IX：Con-tra Keynes and Cambridge, ed.Bruce Caldwell（Chicago, IL，1995），pp.19-21.
17 Hayek, Monetary Theory and the Trade Cycle, pp. 137-40.
18 Ibid.，p. 131.
19 Ibid.，p. 143.
20 Caldwell，‘Introduction'，p. 21.
21 The debate has re entered the public consciousness in the last decade thanks to the so called‘Great Recession'and a pair of highly entertaining YouTube videos pairing（actors portraying）Hayek against Keynes in a rap battle. See‘Fear the Boom and the Bust'and‘Fight of the Century'，www.econstories.tv.
22 Caldwell，‘Introduction'，pp. 2-3.
23 John Maynard Keynes, A Treatise on Money（London，1930）.
24 Friedrich Hayek，‘The Economics of the 1930s as Seen from London'，in The Collect-ed Works of F. A.Hayek, vol.ix（Chicago, IL，1995），p.60.
25 Friedrich Hayek et al.，Collectivist Economic Planning, ed. F.A.Hayek（London，1935）.
26 Ibid.，p. 233.
27 Ibid.，p. 238.
28 Friedrich Hayek, The Road to Serfdom：Text and Documents-The Definitive Edition, in The Collected Works of F.A.Hayek, vol.II, ed.Bruce Caldwell（Chicago, IL，2007）.
29 Ibid.，pp. 59-60.
30 Ibid.，pp. 134-70.
31 On the circumstances of the composition of The Road to Serfdom and its reception, see Bruce Caldwell，‘Editor's Introduction'，pp. 1-33.
32 Friedrich Hayek，‘Economics and Knowledge'[1936]，in The Collected Works of F. A.Hayek, vol.XV, The Market and Other Orders, ed.Bruce Caldwell（Chicago, IL，2014），pp.57-77.
33 Hayek，‘Economics and Knowledge'，p. 73.
34 Friedrich Hayek，‘The Use of Knowledge in Society'[1945]，in The Collected Works of F. A.Hayek, vol.XV, pp.93-104.In 2011‘The Use of Knowledge in Society'was named among the top 20 articles published in the first 100 years of the American Eco-nomic Review.‘100 Years of the American Economic Review：The Top 20 Articles’，pubs.aeaweb.org, February 2011.
35 Hayek also considered（and rejected）the possible superiority of planning by monopo-lized industries. Hayek，‘The Use of Knowledge in Society'，p.94.
36 Hayek，‘The Use of Knowledge in Society'，pp. 95-6.
37 Ibid.，pp. 99-100.
38 Friedrich Hayek，‘The Meaning of Competition'[1948]，in The Collected Works of F. A.Hayek, vol.XV, pp.105-16.
39 Friedrich Hayek，‘Competition as a Discovery Procedure'[1968]，in ibid.，pp. 304-13.
40 Friedrich Hayek, The Sensory Order：An Inquiry into the Foundations of Theoretical Psychology（Chicago, IL，1999[1952]）.
41 Examples of natural spontaneous orders can be found in the structural features of crystals, biological evolution, ecosystems, the formation of stars, galaxies and per-haps even the universe itself, that is, wherever an undesigned pattern is discovered in nature.
42 Hayek left Chicago for the University of Freiburg in 1962，then left Freiburg for Salz-burg in 1968，only to return to Freiburg for good in 1977.
43 Friedrich Hayek，‘Degrees of Explanation'[1955]，in The Collected Works of F. A.Hayek, vol.XV, pp.195-212.
44 Friedrich Hayek，‘The Theory of Complex Phenomena'[1964]，in The Collected Works of F. A.Hayek, vol.XV, pp.257-77.Other sciences of complex phenomena include cognitive psychology（Hayek, The Sensory Order），‘cybernetics, the theory of automata or machines, general systems theory, and perhaps also communications theory'（Hayek，‘Degrees of Explanation'，p.211），as well as linguistics（Hayek，‘The Theory of Complex Phenomena'，p.270），geology, evolutionary biology and the branches of astrophysics that investigate the formation of stars and galaxies（Friedrich Hayek，‘Notes on the Evolution of Systems of Rules of Conduct'[1967]，in The Col-lected Works of F.A.Hayek, vol.XV, p.287）.
45 Friedrich Hayek，‘Kinds of Rationalism'[1965]，in The Collected Works of F. A.Hayek, vol.XV, pp.39-53.
46 Vernon Smith, Rationality in Economics：Constructivist and Ecological Forms（New York，2008）.
47 Friedrich Hayek，‘The Pretence of Knowledge'[1975]，in The Collected Works of F. A.Hayek, vol.XV, pp.371-2.
48 In a New Yorker article titled‘After Communism'，published in 1990，the socialist economist Robert Heilbronner famously admitted that‘Mises was right'all along about the problems of economic calculation in a planned socialist economy. David Boaz，‘The Man Who Told the Truth'，reason.com，21 January 2005.
49 Hayek，‘Kinds of Rationalism'，p. 49.
50 For example, T. W.Hutchison, The Politics and Philosophy of Economics：Marxians, Keynesians, and Austrians（Oxford，1981），Chapter Seven；B.Caldwell，‘Hayek's Transformation'，History of Political Economy, XX/4（1988），pp.513-41；S.Fleet-wood, Hayek's Political Economy：The Socio-economics of Order（London，2013）；N.J.Foss，‘More on“Hayek's Transformation”'，History of Political Economy, XXVII/2（1995），pp.345-64；J.Friedman，‘Hayek’s Two Epistemologies and the Paradoxes of His Thought’，Critical Review, XXV/3-4（2013），pp.277-304.
51 Friedrich Hayek，‘The Dilemma of Specialization'[1955]，in Studies in Philosophy, Politics, and Economics（Chicago, IL，1967），p. 123.
第九章1 Quoted in The Encyclopedia of Libertarianism, ed. Ronald Hamowy（London，2008），p.197.
2 Beatrice Cherrier，‘The Lucky Consistency of Milton Friedman's Science and Politics，1933-1963'，in Building Chicago Economics, ed. Robert Van Horn, Philip Mirowski and Thomas A.Stapleford（Cambridge，2011），p.341.
3 Lenny Ebenstein, Milton Friedman：A Biography（New York，2007），pp. 6-7.
4 Cherrier，‘The Lucky Consistency'，p. 341.
5 Milton Friedman，‘Preface，1982'，in Capitalism and Freedom（Chicago，1982），p. ix.
6 Joel Mokyr, A Culture of Growth（Princeton, NJ，2016）.
7 Deirdre McCloskey, The Rhetoric of Economics（Madison, WI，1985）.
8 An alternative hypothesis suggests that Friedman was an‘intellectual for hire'，be-coming increasingly laissez faire in response to monetary incentives. See Rob Van Horn and Philip Mirowski，‘The Rise of the Chicago School of Economics and the Birth of Neoliberalism'，in The Road from Mont Pelerin：The Making of the Neolib-eral Thought Collective, ed.Philip Mirowski and Dieter Plehwe（Cambridge, MA，2009），pp.139-78.However, Bruce Caldwell disagrees.See Bruce Caldwell，‘The Chicago School, Hayek, and Neoliberalism'，in Building Chicago Economics, pp.301-34.
9 In Milton Friedman, Essays in Positive Economics（Chicago，1953），pp. 3-43；this was a method in which one would not have to concern oneself with the realism of assumptions：all that mattered was the accuracy of the predictions of a model, some-thing that could be validated with data.
10 For a recent discussion, see Uskali Maki, The Methodology of Positive Economics（Cambridge，2009）. Also Victoria Bateman，‘Classical Liberalism：The Foundation for a New Economics'，Critical Review, XXVIII（2016），pp.450-54.
11 Friedman did, however, acknowledge that there was always going to be a fly in the ointment.Statistically, one can never‘prove’a hypothesis, only‘reject’it, whilst economic evidence can often be ambiguous or somewhat difficult to interpret.This means that the choice between rival theories will inevitably require something oth-er than evidence, which, as Valeria Mosini discusses, marks‘a dis analogy with the natural sciences’.Valeria Mosini, Reassessing the Paradigm in Economics（Oxford，2012），p.22.
12 Quoted from Maki, The Methodology of Positive Economics（back cover）. For a dis-cussion of the associated controversy, see Mosini, Reassessing the Paradigm in Eco-nomics, pp.19，37.Also, J.Cunningham Wood and R.N.Wood, eds, Milton Fried-man：Critical Assessments（London，1990）.
13 John Stuart Mill，‘On the Definition of Political Economy；and on the Method of Investigation Proper to it'，in J. S.Mill, Essays on Some Unsettled Questions of Po-litical Economy（London，1844）；Gunnar Myrdal, Value in Social Theory：A Selection of Essays on Methodology（New York，1958）；Max Weber，‘The Meaning of‘ethical neutrality'in Sociology and Economics'[1949]，in Methodology of Social Sciences, ed.and trans.Edward A.Shils and Henry A.Finch（New Brunswick, NJ，2011），pp.1-47；Joseph A.Schumpeter, History of Economic Analysis（Oxford，1954）；John Neville Keynes, The Scope and Method of Political Economy（London，1891）.The fact that Friedman did not seem to acknowledge or engage with this long and estab-lished literature did not work in his favour.Also see the more recent work of the Crit-ical Realism School.
14 Gunnar Myrdal, Objectivity in Social Research（New York，1969），p. 51.
15 Cherrier，‘The Lucky Consistency'，pp. 343-5，354，362.Cherrier also notes that Friedman ascribed‘the survival of his parents, poor Jewish emigrants……to the Ameri-can free enterprise system'，p.341.In Reassessing the Paradigm in Economics, Mosi-ni considers both the internal and external validity of Friedman's‘positive economics'claim.Internally, she notes a lack of logical consistency-that Friedman's conclu-sions often were not arrived at in the rigorous manner that he suggested and were not always amenable to testing.As we will see in regard to his monetary economics, Friedman faced numerous empirical criticisms.
16 John R. Commons，‘Institutional Economics'，in American Economic Review, XXI（1931），p.648.Quoted and further discussed in Bo Sandelin, Hans Michael Trautwein and Richard Wundrak, A Short History of Economic Thought（Oxford，2014），pp.73-6.
17 Victoria Bateman, The Sex Factor（Cambridge，2019）.
18 Avner Offer，‘Selfi nterest, Sympathy and the Invisible Hand：From Adam Smith to Market Liberalism’，Economic Thought, I/2（2012），pp.1-14.
19 Mosini, Reassessing the Paradigm in Economics, p. 74.
20 On the question of where Hayek positioned himself relative to other liberals, see Caldwell，‘The Chicago School, Hayek, and Neoliberalism'，in Building Chicago Economics, p. 316.
21 Ibid.，p. 315.
22 Friedman，‘Preface，1982'，Capitalism and Freedom.
23 John Maynard Keynes, The General Theory of Employment, Interest and Money（London，1936），Chapter 24.
24 Victoria Bateman，‘Economists get too much Credit-and Blame'，Bloomberg View，23 February 2017；Victoria Bateman，‘Free Trade's Critics were once its Champions'，Bloomberg View，6 October 2016，www. bloomberg.com/view/articles.
25 Milton Friedman，‘Lange on Price Flexibility and Employment：A Methodological Criticism'，American Economic Review, XXXVI/4（1946），p. 618.
26 Milton Friedman，‘Have Monetary Policies Failed?'，American Economic Review, LXII/2，（1972），pp. 11-18.On the two very different economic responses to the notion that the economy is very complicated（the‘cloud makers'versus the‘over-simplifiers’）see Thomas Mayer，‘The Structure of Monetarism’，in A Macroeconomic Reader, ed.Brian Snowdon and Howard Vane（London，1997），p.204.
27 For other predecessors to Friedman's monetarism, see Sandelin et al.，A Short History of Economic Thought, pp. 86-7.By the time he set to work on monetary matters in the middle of the twentieth century, Friedman was also joined by leading monetary theorists Karl Brunner（who himself coined the term‘monetarism'）and Allan Melzer and, later, by Harry Johnson and David Laidler.
28 In the textbook is-lm Model, Keynesians can be thought of as emphasizing the insta-bility of the is curve whilst monetarists emphasized the instability of the lm curve.
29 Milton Friedman，‘The Quantity Theory：A Restatement'，in Studies in the Quantity Theory of Money, ed. Milton Friedman（Chicago, IL，1956）.
30 Milton Friedman and Anna Schwartz, A Monetary History of the United States（Princ-eton, NJ，1963）. Economic historian Nuno Palma analyses the effect of money on the economy for a longer time span than did Friedman, and finds significant effects：Nuno Palma，‘Money and Modernization：Liquidity, Specialization, and Structural Change in Early Modern England’，European University Institute Working Paper, XI（2016）；Nuno Palma，‘The Existence and Persistence of Liquidity Effects：Evidence from a Large scale Historical Natural Experiment’，GGDC Research Memorandum, CLVIII（2016）.
31 Barry Eichengreen, Golden Fetters（Oxford，1995），also provides an explanation of the Great Depression based on monetary tightness, but within a much more global context and conditioned by the fixed exchange regime of the time, the Gold Standard.Numerous competing explanations of boom and bust abounded during Friedman’s lifetime.In response to the Great Depression, the League of Nations had initi ated a project that tasked researchers with investigating all possible causes of the business cycle, leading to the publication of Gottfried Haberler, Prosperity and Depression（Geneva，1937）.Theories considered included monetary causes, over investment, psychology, the harvest, maladjustment and under consumption.Friedman’s‘Perma-nent Income Hypothesis’，which provides an alternative to Keynes’s Consumption Function and distinguished between permanent and transitory income, was used by Friedman to help‘defeat’both the notion that the economy could settle into an under-consumption equilibrium and that fiscal expansion would have a significant multiplier effect, Cherrier，‘The Lucky Consistency’，p.347.According to Friedman, this was his‘best purely scientific contribution’.However, recent evidence has turned against the Permanent Income Hypothesis, providing greater room for Keynes.See Noah Smith，‘Economists Give Up on Milton Friedman’s Biggest Idea’，Bloomberg View, www.bloomberg.com，26 July 2016.
32 Milton Friedman，‘Statement on Monetary Theory and Policy'，in Employment, Growth and Price Levels, Hearings Before the Joint Economic Committee，1st ses-sion，25-28 May 1959（Washington, dc，1959），pp. 144-5.Quoted in Brian Hillier, The Macroeconomic Debate（Oxford，1991），p.59.
33 According to Friedman, an expansion of the money supply could boost the economy in the short run, but only as a result of workers overestimating the‘real'value of their wages as prices and wages start to increase in the economy in response to the in-creasing money supply：workers observe that their money wages have increased, but have not yet factored in that the prices of the good they purchase have also increased, meaning that they are incentivized to work longer and harder, generating the extra output that creates boom time conditions. Hence the notion that workers are‘fooled'by monetary stimulus, but that this cannot last indefinitely, meaning that in the longer run, monetary stimulus cannot result in higher levels of output and lower levels of unemployment.The Phillips Curve trade off is only a short run phenomenon.
34 This vein of thinking later developed into a debate on‘rules versus discretion'，albeit with roots that go back to James Angell many years earlier. By having their hands tied, economists came to believe that policymakers would be able to achieve a more favourable result.This was one case in which less choice was better than more.
35 Friedman also questioned the power of fiscal policy by employing his Permanent Income Hypothesis. See Noah Smith，‘Milton Friedman's Cherished Theory is Laid to Rest'，Bloomberg View, bloomberg.com，12 January 2017.The theory of Ricardian Equivalence has also been employed to reject the effectiveness of fiscal policy.
36 Robert Lucas and Thomas Sargent，‘After Keynesian Macroeconomics'，in After the Phillips Curve：Persistence of High Inflation and High Unemployment（Boston, MA，1978），p.49.
37 See Mosini, Reassessing the Paradigm of Economics, who suggests that the problems of the 1970s can be seen not as a failure of Keynesian economics but of departure from Keynes's ideas；Yanis Varoufakis notes that the Bretton Woods system was a compromise which, as a result, lacked Keynes's automatic recycling of surpluses, leading to its ultimate undoing. Yanis Varoufakis, And The Weak Suffer What They Must（London，2016）.
38 Named after the then Chairman of the Federal Reserve, Paul Volcker, who raised in-terest rates to around 20 per cent in an effort to tackle inflation.
39 See Daniel J. Hammond, Theory and Measurement（Cambridge，1996），p.211：‘Even though they were widely credited with revitalising monetary economics……Friedman and Schwartz laboured from the beginning to the end of their collaboration under a cloud of profes sional doubt.The doubt was concerning the scientific credibility of their techniques, and thus of their results……They were charged with treating money as the cause when it was in fact the effect and of treating it as the sole cause when it was at most one of many causes.’Peter Temin also questions whether Friedman was free from initial bias, noting in regard to his monetary view of the Great Depression that Friedman and Schwartz’s A Monetary History‘assumes the conclusion and describes the Depression in terms of it；it does not test it or prove it at all’.Peter Temin, Did Monetary Forces Cause the Great Depression?（New York，1976），pp.15-16.Given Friedman’s emphasis on method（see Section I），this is particularly unsatisfying.
40 Hyman Minsky，‘A Theory of Systematic Fragility'，in Financial Crises：Institutions and Markets in a Fragile Environment, ed. E.I.Altman and A.W.Sametz（New York，1977），p.152.Minsky was particularly concerned with the way in which a shift towards a Friedman style monetary policy based on controlling money by controlling reserves, acting through open market operations, reduced the Central Bank's traditional ability to examine and supervise the loan books of commer cial banks-loan books that they were previously forced to‘open up'if they wanted to borrow reserves at the discount window.In the words of L.Randall Wray，‘if the Fed had been watching bank balance sheets closely in the early to mid 2000s, it would have seen all the trashy assets they were accumulating.'Randall L.Wray, Why Minsky Matters：An Introduction to the Work of a Maverick Economist（Princeton, NJ，2016）.
41 This eradicated the systematic error that plagued Friedman's adaptive expectation for-mation process.
42 Robert Leeson and Warren Young，‘Mythical Expectations'，in The Anti-Keynesian Tradition, ed. R.Leeson（New York，2008），pp.101，106.
43 Keynes, A Treatise on Money（New York，1930）. Though by contrast with Friedman, Keynes adopted a Wicksellian（not Fisherite）approach.
44 Keynes, General Theory, Chapter Twelve.
45 Gianni Vaggi and Peter Groenewegen, A Concise History of Economic Thought（New York，2003）. On the technical difference between Friedman and Keynes in regard to liquidity preference see D.E.Laidler，‘Monetarism：An Interpretation and Assess-ment'，Economic Journal, XCI/361（1981），pp.1-28.
46 Whilst Classical economists supposed that the interest rate adjusted to equilibrate saving and investment, hermetically sealing the economy at the natural rate, Keynes argued that the interest rate was instead equilibrating money supply and money de-mand, where the latter involves a demand for liquidity（‘liquidity preference'）. See Sandelin et al.，A Short History of Economic Thought, pp.88-9，for more detail.
47 In regard to Knight's distinction between measured risk and uncer tainty, Friedman was certainly clear：‘I do not believe it is valid，'quoted in Mosini, Reassessing the Paradigm of Economics, p. 129；Friedman's conception of the Quantity Theory of Money with a stable money demand function implies a stable demand side for the economy.See Thomas Mayer，‘The Structure of Monetarism'[1975]，reprinted in A Macroeconomic Reader, ed.Snowdon and Vane, pp.180-216（at p.187），who also notes that‘one can be a Keynesian in one's basic theory, and, at the same time, accept the monetarist position that the private sector is……stabler than the private and gov-ernment sectors combined[that is, that government intervention can increase rather than decrease instability].Admittedly, it is much harder to see how a quantity theorist could believe in the instability of the private sector.’
48 Friedman, Capitalism and Freedom, p. 131.
49 Also see Morris M. Kleiner and Alan B.Krueger，‘Analyzing the Extent and Influ-ence of Occupational Licensing on the Labor Market’，Journal of Labor Economics, XXXI/2（2013），pp.s173-s202.
50 Mark Pennington, Robust Political Economy（Cheltenham，2011）；Mark Steckbeck and Peter J. Boetke，‘Turning Lemons into Lemonade：Entrepreneurial Solutions to Adverse Selection Problems in E Commerce'，in Markets, Information and Commu-nication：Austrian Perspectives on the Internet Economy, ed.Jack Birner and Pierre Garrouste（New York，2004）.
51 More recently, tax credits and a‘basic income guarantee'have come to the fore in policy circles and can be seen to follow in the tradition of Friedman.
52 Friedman, Capitalism and Freedom, Chapter One.
53 Friedman and Rose Friedman, Free to Choose（New York，1980）.
54 For a critique of Friedman's work from a left of centre perspective, including for its neglect of power relations, see E. K.Hunt and Mark Lautzenheiser, History of Eco-nomic Thought：A Critical Perspective[1949]（London，2011）.
55 On the former, see Victoria Bateman, Markets and Growth in Early Modern Europe（London，2011）. On the latter, see Darren Acemoglu, Jacob Moscona and James Rob-inson，‘State Capacity and American Technology：Evidence from the 19th Century'，American Economic Review, CVI/5（2016），pp.61-7；Alex Marshall, The Surprising Design of Market Economies（Austin, TX，2012）；Mariana Mazzucato, The Entrepre-neurial State（London，2011）.
56 Acemoglu et al.，‘State Capacity and American Technology'；Matthew Andrews, Lant Pritchett and Michael Woolcock, Building State Capability：Evidence, Analysis and Action（Oxford，2017）；Timothy Besley and Torsten Persson，‘The Origins of State Capacity：Property Rights, Taxation and Politics'，American Economic Review, XCIX/4（2009），pp. 1218-44；Mark Koyama and Noel Johnson，‘States and Econom-ic Growth：Capacity and Constraints'，Explorations in Economic History, LXIV/2（2017），pp.1-20.
57 Robert H. Frank, The Darwin Economy：Liberty, Competition, and the Common Good（Princeton, NJ，2012）；W.Brian Arthur, Increasing Returns and Path Dependence in the Economy（Ann Arbor, MI，1994）；Paul David，‘Clio and the Economics of qw-erty'，American Economic Review, LXXII/2（1985），pp.332-7.
58 George A. Akerlof and Robert J.Shiller, Phishing for Phools：The Economics of Ma-nipulation and Deception（Princeton, NJ，2015）.
59 Avner Offer，‘Why has the Public Sector Grown so Large in Market Societies?'，Uni-versity of Oxford Discussion Papers in Economic and Social History, XLIV（2002），p. 2.
60 Bradford J. Delong，‘A Brief History of Inequality'，www.weforum.org，28 July 2016.
61 Avner Offer，‘A Warrant for Pain：Caveat Emptor vs. the Duty of Care in American Medicine'，University of Oxford Discussion Papers in Economic and Social History, CII（2012），p.15.
62 Victoria Bateman，‘Classical Liberalism：The Foundation for a New Economics'，Critical Review, XXVIII（2016），pp. 440-60；Victoria Bateman，‘We need a Sexual Revolution in Economics'，The Guardian，2 June 2015.
63 This section largely draws on Bateman，‘Classical Liberalism：The Foundation for a New Economics'，pp. 454-6，and Bateman, Economics Has a Sex Problem（2019）；Avner Offer，‘Between the Gift and the Market：The Economy of Regard'，Economic History Review, l/3（1997），pp.450-76；Marilyn Waring, If Women Counted：A New Feminist Economics（New York，1988）.
64 Avner Offer，‘The Economy of Obligation'，University of Oxford Discussion Papers in Economic and Social History, CIII（2012），pp. 4-5.
65 Tine De Moorvand and Jan Luiten Van Zanden，‘Girl Power：The European Marriage Pattern and Labour Markets in the North Sea region in the Late Medieval and Early Modern Period'，Economic History Review, LXIII/1，（2010），pp. 1-33；Bateman, Eco-nomics Has a Sex Problem（2019）.
66 It should, however, be noted that twentieth century welfare states have not always supported women's participation in paid work. See Lynn P.Cooke, Gender-Class Equality in Political Economies（Oxford，2011）；Gosta Esping Anderson, Incomplete Revolution：Adapting Welfare States to Women's New Roles（Cambridge，2009）.
67 On the controversy surrounding Friedman, see Hammond，‘Markets, Politics, and De-mocracy at Chicago：Taking Economics Seriously'，in Building Chicago Economics, ed. Van Horn, Mirowski and Stapleford.
68 Paul Romer，‘Mathiness in the Theory of Economic Growth'，American Economic Review, CV/5（2015），pp. 89-93.
69 Friedman's emphasis on learning lessons from economic history and using empirical evidence was prescient. Even if the lessons he drew were not always the right ones, economics would benefit from a more fruitful interchange between theory and history-albeit one that goes in both directions, rather than running singly from theory to history.In Friedman’s own words, economic history provides‘precisely the kind of evidence that we would like to get by“critical”experiments if we conduct them’.See Milton Friedman，‘Price, Income and Monetary Changes in Three Wartime Periods’，American Economic Review, XLII/2（1952），p.612.
70 Jonathan D. Ostry, Prakash Loungani and Davide Furceri，‘Neoliberalism：Oversold'，Finance and Development, LIII/2（2016），pp.38-41.
71 John A. Allison, The Financial Crisis and the Free Market Cure（New York，2012）.
72 The inadequacies of the post Friedman monetary policymaking approach are becom-ing clear：the general neglect of the money supply in favour of using interest rates， when, behind the scenes, that money supply was ballooning；the way in which the most popular measure of inflation, the consumer price index, neglected the fact that property prices were racing ahead of other prices in the economy, meaning that inflation was not as‘low’as it seemed；the monetary ease that has followed 2008 and its potentially adverse longer run consequences.
第十章1 Sylvia Nasar, A Beautiful Mind：The Life of Mathematical Genius and Nobel Laureate John Nash（New York，1998）. This chapter draws much on Nasar's book.
2 See‘The Medal for the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel'，www. nobelprize.org.
3 John Nash，‘Ideal Money'，Southern Economic Journal, LXIX/1（2002），pp. 4-11.
4 Gonçalo L.Fonseca，‘John F.Nash’，History of Economic Thought, www.hetwebsite.net, accessed 19 February 2018.
5 Johann von Neumann，‘Zur Theorie der Gesellschaftsspiele'，Mathematische Annalen, X（1928），pp. 295-320.Other precursors had been Antoine Augustin Cournot and Er-nest Zermelo.
6 Ibid.，p. 295，trans.Karen Horn.
7 Johann von Neumann and Oskar Morgenstern, Theory of Games and Economic Be-havior（Princeton, NJ，1943）.
8 Nash，‘Non cooperative Games'，dissertation, University of Princeton, NJ，1950.
9 Roger Myerson, Game Theory：Analysis of Conflict（Cambridge, MA，1991），p.105；Roger Myerson，‘Nash Equilibrium and the History of Economic Method’，Journal of Economic Literature, XXXVII（1999），p.1067.
10 Nasar, A Beautiful Mind, p. 32.
11 Eric T. Bell, Men of Mathematics（New York，1937）.
12 Nasar, Beautiful Mind, pp. 61-3.
13 John Milnor，‘The Game of Hex'，in The Essential John Nash, ed. Harold W.Kuhn and Sylvia Nasar（Princeton, NJ，2002），pp.31-3.
14 John Nash，‘The Bargaining Problem'，Econometrica, XVIII/2（1950），pp. 155-62.
15 John F. Nash Sr and John F.Nash Jr，‘Sag and Tension Calculations for Wire Spans Using Catenary Formulas'，Electrical Engineering, LXIV/12（1945），pp.984-7.
16 Neumann and Morgenstern, Theory of Games.
17 Nash，‘Two person Cooperative Games'，Econometrica, XXI/1（1953），pp. 128-40.
18 Luitzen Brouwer，‘Über Abbildungen von Mannigfaltigkeiten’，Mathematische An-nalen, LXXI（1911），pp.97-115；Shizuo Kakutani，‘A Generalization of Brouwer’s Fixed Point Theorem’，Duke Mathematical Journal, VIII/3（1941），pp.457-9.We will spare the reader the intricacies of these mathematical tools.
19 A facsimile has been reproduced in The Essential John Nash, ed. Kuhn and Nasar, pp.53-84.
20 Nash，‘Non cooperative Games'，Annals of Mathematics, LIV（1951），pp. 286-95.
21 Ibid.，p. 286.
22 Myerson，‘Nash Equilibrium'，pp. 1069-70.
23 Albert W. Tucker，‘A Two person Dilemma-The Prisoner's Dilemma'，umap Journal（1950），reprinted in Philipp D.Straffin，‘The Mathematics of Tucker-A Sampler’，Two-year College Mathematics Journal, XIV/3（1983），pp.228-32.
24 See‘Game theory'，www. hetwebsite.net, accessed 19 February 2018.See this site also for an excellent brief summary of the developments and ramifications in game theory.For an easy access didactic introduction with more detail, see Marilu Hurt Mc-Carty, The Nobel Laureates（New York，2001），pp.311-48.
25 R. Duncan Luce and Howard Raiffa, Games and Decisions（New York，1957）.
26 Harold W. Kuhn，‘Extensive Games and the Problem of Information'，in Contributions to the Theory of Games, ed.Harold W.Kuhn and Alfred W.Tucker（Princeton, NJ，1953），pp.193-216.
27 Reinhard Selten，‘Spieltheoretische Behandlung eines Oligopolmodells mit Nachfrag-eträgheit’，Zeitschrift für die gesamte Staatswissenschaft, CXXI（1965），pp.301-24，667-89.
28 Reinhard Selten，‘Reexamination of the Perfectness Concept for Equilibrium Points in Extensive Games'，International Journal of Game Theory, IV（1975），pp. 25-55.
29 John Harsanyi，‘Games with Incomplete Information Played by Bayesian Players'，Management Science, XIV（1967/68），pp. 159-82，320-34，486-502.
30 Adam Smith, An Inquiry into the Nature and Causes of the Wealth of Nations, ed. R.H.Campbell and A.S.Skinner（Oxford，1976）.
31 Myerson，‘Nash Equilibrium'，p. 1078.
32 Nash，‘Real Algebraic Manifolds'，Annals of Mathematics, LVI（1952），pp. 405-21.
33 See‘A Brief History of rand'，www. rand.org, accessed 18 February 2018.
34 Nasar, Beautiful Mind, p. 105.
35 Interview with Kenneth J. Arrow in Karen Horn, Roads to Wisdom, Conversations with Ten Nobel Laureates in Economics（Cheltenham，2009），p.76.
36 Nash，‘C1 isometric Imbeddings'，Annals of Mathematics, LX（1954），pp. 383-96；Nash，‘The Imbedding Problem for Riemannian Manifolds'，Annals of Mathematics, LXIII（1956），pp.20-63.
37 Nash，‘Autobiographical Essay'，in Les Prix Nobel, ed. Nobel Foundation（Stockholm，1994）.
38 See Horn, Roads to Wisdom, pp. 19-25.
39 Neumann and Morgenstern, Theory of Games.
40 See Nasar, Beautiful Mind, pp. 356-73；Avner Offer and Gabriel Söderberg, The No-bel Factor（Princeton, NJ，2016）.
41 Personal communication，20 August 2006.
42 See the website of the Abel Prize, www. abelprize.no.
第十一章1 Tim Adams，‘This Much I Know：Daniel Kahneman'，The Guardian, www. theguard-ian.com，8 July 2012.
2 David Shariatmadari，‘Daniel Kahneman：“What would I eliminate if I had a magic wand?Overconfidence”’，The Guardian, www.theguardian.com，18 July 2015.
3 Adams，‘This Much I Know'.
4 Daniel Kahneman，‘Daniel Kahneman-Biographical'，The Sveriges Riksbanks Prize in Economic Sciences in Memory of Alfred Nobel，2002，www. nobelprize.org.
5 Ibid.
6 Amos Tversky and Daniel Kahneman，‘Belief in the Law of Small Numbers'，Psy-chological Bulletin, LXXVI/2（1971），pp. 105-10.
7 Daniel Kahneman and Amos Tversky，‘On the Reality of Cognitive Illusions'，Psy-chological Review, CIII（1996），pp. 582-91.
8 Kahneman，‘Biographical'，www. nobelprize.org.
9 Ibid.
10 Ibid.
11 D. Kahneman and E.E.Ghiselli，‘Validity and Non linear Heteroscadastic Models'，Personnel Psychology, XV（1962），pp.1-11.
12 D. Kahneman and J.Beatty，‘Pupil Diameter and Load on Memory'，Science, CLIV/3756（1966），pp.1583-5.
13 Kahneman，‘Biographical'，p. 8.
14 Ibid.，pp. 9-10.
15 Amos Tversky and Daniel Kahneman，‘Belief in the Law of Small Numbers'，Psy-chological Bulletin, LXXVI/2（1971），pp. 105-10.
16 Amos Tversky and Daniel Kahneman，‘Judgement under Uncertainty：Heuristics and Biases'，Science, CLXXXV/4157（1974），pp. 1124-31.
17 D. Kahneman, P.Slovic and A.Tversky, Judgement under Uncertainty：Heuristics and Biases（Cambridge，1982）；Daniel Kahneman and Amos Tversky, Choices, Val-ues and Frames（Cambridge，2000）.
18 Daniel Kahneman and Amos Tversky，‘Prospect Theory-An Analysis of Decision under Risk'，Econometrica, XLVII/2（1979），pp. 263-92.
19 Tversky and Kahneman，‘Belief in the Law of Small Numbers'.
20 See Amos Tversky and Daniel Kahneman，‘Loss Aversion in Riskless Choice：A Reference Dependent Model'，Quarterly Journal of Economics, CVII/4（1991），pp. 1039-61.
21 See R. H.Thaler, ed.，Quasi Rational Economics（New York，2000）；R.H.Thaler, ed.，Advances in Behavioural Finance（New York and Princeton, NJ，2005），vol.II.
22 R. H.Thaler, A.Tversky, D.Kahneman and A.Schwartz，‘The Effect of Myopia and Loss Aversion on Risk Taking：An Experimental Test'，Quarterly Journal of Econom-ics, CXII（1997），pp.647-61.
23 See Amos Tversky and Daniel Kahneman，‘Advances in Prospect Theory：Cumula-tive Representation of Uncertainty'，Journal of Risk and Uncertainty, v（1992），pp. 297-323.
24 G. Gigerenzer, Gut Feelings：The Intelligence of the Unconscious（London，2007）.
25 H. A.Simon，‘A Behavioural Model of Rational Choice'，Quarterly Journal of Eco-nomics, LXIX（1955），pp.99-118.
26 Adams，‘This Much I Know'.
27 J. Gots，‘Hire Thine Enemy：Daniel Kahneman on Adversarial Collaboration, The Big Think'，www.bigthink.com, accessed 19 February 2018.
28 See I. Bateman, D.Kahneman, A.Munro, C.Starmer and R.Sugden，‘Is There Loss Aversion in Buying?An Adversarial Collaboration，'Working Paper-Centre for Social and Economic Research on the Global Environment 1（2003），pp.1-39；D.Kahneman and G.Klein，‘Conditions for Intuitive Expertise：A Failure to Disagree'，American Psychologist, lxiv/6（2009），pp.515-26；A.Mellers, R.Hertwig and D.Kahneman，‘Do Frequency Representations Eliminate Conjunction Effects?An Ex-ercise in Adversarial Collaboration'，Psychological Science, XII（2001），pp.269-75；and T.Gilovich, V.H.Medvec and D.Kahneman（1998），‘Varieties of Regret：A De-bate and Partial Resolution'，Psychological Review, CV（1998），pp.602-5.
29 ‘Daniel Kahneman Facts'，www. nobelprize.org.
30 R. H.Thaler，‘Toward a Positive Theory of Consumer Choice, Journal of Economic Behavior and Organisation, XXXIX（1980），pp.36-90.
31 Kahneman，（2002），‘Biographical'，www. nobelprize.org.
32 Adams，‘This Much I Know'.
第十二章1 Amartya Sen, Poverty and Famines（Oxford，1981），pp. 80（quote），58.
2 Ibid.，p. 66.
3 Ibid.，pp. 96，105，139.
4 Ibid.，p. 152.
5 Ibid.，p. 13.
6 Amartya Sen，‘Social Choice Theory：A Re examination'[1975]，in Choice, Welfare and Measurement（Cambridge, MA，1997），pp. 158-200.
7 Amartya Sen, Commodities and Capabilities（Oxford，1999），p. 2.
8 Lionel Robbins，‘Interpersonal Comparisons of Utility：A Comment，'Economic Jour-nal, XLVIII（1938），p. 637.
9 Shatakshee Dhongde and Prasanta K. Pattanaik，‘Preference, Choice, and Rationality：Amartya Sen's Critique of the Theory of Rational Choice in Economics，'in Amartya Sen, ed.Christopher W.Morris（Cambridge，2009），p.21.
10 Amartya Sen，‘Description as Choice'[1979]，in Choice, Welfare, and Measurement, p. 442.
11 Robert Sugden，‘Welfare, Resources, and Capabilities：A Review of Inequality Reex-amined by Amartya Sen，'Journal of Economic Literature, XXXI（1993），p. 1950.
12 Amartya Sen，‘The Impossibility of Being a Paretian Liberal'[1970]，in Choice, Wel-fare and Measurement, pp. 285-90.
13 Amartya Sen, On Economic Inequality, enl. edn（Oxford，1997），p.75.
14 Ibid.，p. 170.
15 Ibid.，p. 76.
16 Amartya Sen，‘Equality of What?'[1980]，in Choice, Welfare and Measurement, p. 366.
17 For Rawls's defence see his‘Social Unity and Primary Goods'，in Utilitarianism and Beyond, ed. Amartya Sen and Bernard Williams（Cambridge，1982），pp.159-85.
18 Jean Drèze and Amartya Sen, India：Economic Development and Social Opportunity（Delhi，1995），p.vii.
19 Ibid.，pp. 64，78.
20 Ibid.，pp. 67，8（quote）.
21 Amartya Sen, Development as Freedom（Oxford，1999），p. 11.
22 Albert O. Hirschman, The Passions and the Interests：Political Arguments for Capi-talism before its Triumph（Princeton, NJ，1977）.
23 Amartya Sen，‘Albert Hirschman'，Moneta e Credito, LXVII（2014），p. 163.
24 Sen, Development as Freedom, p. 294.
25 Ibid.，pp. 6-7.
26 Ibid.，p. 151.
27 Drèze and Sen, India, p.156.
28 Amartya Sen，‘Missing Women，'British Medical Journal, CCCIV（1992）.
29 Sen, Development as Freedom, pp. 197-8.
30 Drèze and Sen, India, p.127.
31 Adam Smith, An Inquiry into the Nature and Causes of the Wealth of Nations[1776]，ed. William B.Todd, in The Glasgow Edition of the Works of Adam Smith, ed.R.H.Campbell and A.S.Skinner（Oxford，1975-87），p.456.
32 Drèze and Sen, India, p.257.
33 Ibid.，pp. 157，159（quote）.
34 Amartya Sen，‘The Possibility of Social Choice'，Nobel Lecture, www. nobelprize.org，8 December 1998.
35 Sen, Development as Freedom, p. 203.
36 Amartya Sen, The Idea of Justice（London，2009），p. xvi.
37 Ibid.，pp. 16（quote），21.
38 Ibid.，p. 105.
39 Ibid.，pp. 70，123，140.
40 Ibid.，p. 141.
41 Sen, Development as Freedom, pp. 96-7.
42 Sugden，‘Welfare, Resources, and Capabilities'，p. 1951.
43 Amartya Sen, Inequality Reexamined（New York，1992），p. 81.
44 Sugden，‘Welfare, Resources, and Capabilities'，p. 1953.
45 Robert Sugden，‘Review of Commodities and Capabilities'，Economic Journal, XCVI（1986），p. 821.For a similar critique, see Emmanuelle Bénicourt，‘Amartya Sen：un bilan critique，’Cahiers d’économie politique, I（2007），pp.65-7.
46 Dan Usher，‘Review of Commodities and Capabilities，'Canadian Journal of Eco-nomics, XX（1987），p. 199.
47 Morris，‘Introduction'，in Amartya Sen, p. 8.
48 Sen, Development as Freedom, p. 8.
49 Adam Smith, The Theory of Moral Sentiments[1759]，ed. A.L.Macfie and D.D.Ra-phael, in Glasgow Edition of the Works, p.82.
第十三章1 He had only worked for the public sector until then. On this matter, one can relate to Steve Sailer's amused commentary，‘“Incentives Matter”，Except to Economists'，www.vdare.com，14 January 2014.
2 Economic Sciences Prize Committee，‘Markets with Asymmetric Information'（Stock-holm，2001），p. 10.
3 Ibid.，p. 9.
4 Joseph Stiglitz，‘Joseph E. Stiglitz-Biographical'，The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel，2001，www.nobelprize.org, accessed 22 February 2018.
5 Ibid.
6 Ibid.
7 Ibid.
8 Ibid.
9 In advanced books, neoclassical theoreticians-including Stiglitz-do not hesitate to talk about centralization or even of‘planners'but that does not prevent them from nurturing the idea（especially in textbooks）that this model represents an ideal market economy.
10 According to the‘floor lamp principle’，in darkness, one looks for a lost object where there is light, since it is vain to try to look for it elsewhere.
11 Economic Sciences Prize Committee，‘Markets with Asymmetric Information'.
12 Ibid.
13 Sometimes, when there are information asymmetries, there is no equilibrium（there are no exchanges）. The aim of the modellist is then to propose measures that can en-able the equilibrium to exist（guarantees and various forms of monitoring, for exam-ple）.
14 Joseph Stiglitz，‘Information and the Change in the Paradigm in Economics'，Nobel Lecture 2001，p. 10，my italics.www.nobelprize.org.
15 Ibid.，p. 8，my italics.
16 Ibid.，pp. 8-9，Stiglitz's italics.
17 Ibid.，p. 10，my italics.
18 Stiglitz，‘Joseph E. Stiglitz-Biographical'.
19 Stiglitz，‘Information and the Change in the Paradigm in Economics'，p. 10.
20 Joseph Stiglitz，‘Incentives and Risk Sharing in Sharecropping'，Review of Economic Studies, XLI（April 1974），pp. 219-55.
21 Stiglitz，‘Information and the Change in the Paradigm in Economics'，pp. 500-501，Stiglitz's italics.
22 C. Shapiro and J.Stiglitz，‘Equilibrium Unemployment as a Worker Discipline De-vice'，American Economic Review, LXXIV/3（1984），pp.433-44.
23 Ibid.，p. 433.
24 Ibid.，p. 435.
25 Ibid.，p. 433.
26 Ibid.，p. 435.
27 Ibid.，p. 437.
28 Ibid.
29 At equilibrium, unemployment is involuntary in the sense that the workers are dis-posed to work at the prevailing wage level, or even at the‘competition'wage level（inferior to the former），but cannot because a promise, even sincere, not to shirk would not be credible. They therefore have to wait until fate changes their situation（with the probability q）.
30 Macroeconomics, whose starting point is empirical relationships rather than axioms, aims at being more directly operational-and less normative, even if one of its objec-tives is to guide collective decisions.
31 Shapiro and Stiglitz，‘Equilibrium Unemployment'，p. 434.
32 Ibid.，p. 441.
33 Ibid.
34 We are in the presence of what economists call‘negative externalities'：when employ-ing workers, a firm affects the situation of other firms, who are constrained to increase their salary to compensate for the decrease of penalty associated with shirking, be-cause of the diminution of unemployment.
35 Improvement that benefited some, if not of all, without penalizing anyone.
36 There is therefore a process of insider trading, which penalizes the person who, in the stock exchange, proceeds to operate on the basis of information that has not yet been made public.
37 Yet, because of its vagueness, the Nobel Prize Committee avoids talking about this. Cautiously, the Prize committee has also awarded the prize to Robert Shiller, who de-nies its validity.B.Guerrien and O.Gün，‘Efficient Market Hypothesis：What are We Talking About?’，Real World Economic Review, lvi（2011），paecon.net.
38 E. Fama，‘Efficient Capital Markets：A Review of Theory and Empirical Work’，Jour-nal of Finance, xxv/2（1970），p.383.
39 S. Grossman and J.Stiglitz，‘On the Impossibility of Informationally Efficient Mar-kets’，American Economic Review, lxvi/2（1980），pp.393-408（at p.393）.
40 They call to mind an‘information market'that their‘pro market'adversaries cannot contest.
41 The theorem is presented as follows：If（θ* ，ε* ，x* ）has a nondegen erate joint normal distribution such that θ* ，ε* and x* are mutually independent, then there exists a solution to γX l （Pγ （θ，x），θ）+（1-γ）X U （Pγ （θ，x）；Pγ * ）=x which has the form Pγ（θ，x）=a 1 +a 2 wγ （θ，x），where a 1 and a 2 are real numbers which may depend on γ，such that a 2 ＞0（if γ=0，the price contains no information about θ）.Grossman and Stiglitz，‘On the Impossibility of Informationally Efficient Markets’，p.397.
42 Fama has admitted that these tests are in fact on two joint hypotheses and that they therefore cannot enable someone to decide between either one.
43 Joseph Stiglitz, Whither Socialism?（Cambridge, ma，1994），p. 16.
44 Arrow and Debreu suppose that there exist goods which are‘conditional'to the real-ization of an infinite number of‘states of nature’，themselves independent of the actions of agents.This weighs heavily in the task of the auctioneer, who has to propose prices and elaborate conditional contracts with agents, without fundamentally modi-fying the model itself.
45 Stiglitz, Whither Socialism?，p. 60（my italics）.
46 Ibid.，p. 27.
47 Stiglitz，‘When markets aren't perfect, governments can help'，cbsnews. com，3 May 2016.
48 Stiglitz, The Great Divide（New York，2015），p. 125.
49 Ibid.