Economic imperialism

Where meanings shift so quickly and so subtly, not only following changes of thought, but often manipulated artificially by political practitioners so as to obscure, expand, or distort, it is idle to demand the same rigour as is expected in the exact sciences.

Economic imperialism

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In fact, the list of forerunners of those later developments runs much farther back, into the quite early nineteenth century. In all it produced or included a large "family" of similar-and-different systems of economic theory, created in different countries and centers by different economists and "schools" or groups of them, as schemes of analysis differing among themselves in many important detailed respects, but all involving, in a broad sense, the same general theoretical vision.

Jevons led the way in England, and the later English theorists whose styles and views most nearly resembled his and who may perhaps be grouped with him or called "Jevonian"—even though these two were in many ways unlike each other and unlike Jevons, and though all three were equally brilliant, original, and independent—were Philip Wicksteed and F.

In the English-speaking world, Walrasian and Paretian economics have only quite recently begun to be really widely studied and appreciated. But we are only halfway through my list of six general "groupings" of the great economic theorists of the last decades of the nineteenth century.

In the Scandinavian countries, two Swedish leaders became most widely known and influential, beyond as well as within those countries: In the United States, the important theorists in the era that I speak of were fairly numerous and diverse and do not all belong in any single "school.

Economic imperialism

Davenport, and others developed systems considerably resembling that of "the Austrian school" and somewhat indebted to it, though each had much originality. Taussig remained, as a theorist, closer than others to the old, classical, Ricardo-Mill tradition, and only half absorbed or accepted the "new" ideas of his generation; but he had great wisdom, produced much good work, and taught and formed a great many younger American economists of outstanding merit.

Irving Fisher stood out as the one great American mathematical economist—on his own, not Walrasian, lines.

Economic imperialism

And now having glanced at all these groups I circle back to England and speak last of Alfred Marshall of Cambridge University and his pupils, admirers, and followers, the "Marshallian" school. As we shall see hereafter, the Marshallian system was in some ways a broad "synthesis," combining elements or features of several of the other "new" ones of this era and of the old Ricardian classical tradition generally, more fully discarded in the other new schools.

Now I shail adopt here a doubtless arbitrary and criticizable, but fairly common and convenient, usage of the terms classical and neo-classical for designating general tvpes of economic theory, and use these terms as follows. And I use the term "neo-classical" in two different senses: All in the broad sense "neo-classical-economic theory had in common with the old Ricardian-classical type or theory, in the first place, the economic-liberal outlook and hence the same general conception of the province or field and over-all task of economic theory as such, i.

Although the latter had not spelled out so well, with full precision and logical rigor," all the implications of its basic insights; it had embodied on the whole a better intuitive grasp of the most important factors and connections in the real processes of the operation and development of the real economy.

Perhaps, however, all these limitations of "neo-classical" eco-nomic theory were or made up only the unavoidable and not excessive "price" of all its new, real, and great achievements, which on the whole outweighed them.

Wot of course the "science" still did not gain enough prestige to make the public willing to accept the recommendations of economists without understanding the analyses behind them.

Economics had to go through this phase of its development, which was of more value for its still later, further progress than for its current usefulness within this era. In a sense all these innovations were mathematical in form, i. And in substance the most important substantive innova-ions were in a sense "psychological," i.

Posted by Zera But the main emphasis was still on theoretical research in economics; and the social-institutional ideals and assumptions or presuppositions of liberal-and-scientific economic theory tended as a rule, in the new development and expositions of the latter, to be more latent than explicit.

The economists or many of them also, in varying degrees, themselves departed from adherence to strict laissez faire in some of the other fields or directions in which the businessmen most strongly insisted on it, and supported many of the reforms most vigorously opposed in the business world.

Thus, all in all, there was already in that time a tendency among the latter to regard the academic economists generally as "subversive radicals. They were adherents of the traditional liberal vision, of the good, "free" society and economy with its limited role for the state and large role for the "free play" of private interests and initiatives, competition, voluntary adjustments among individuals and groups, etc.Following World War II, a German return to dominance in Europe seemed an impossibility.

But the euro crisis has transformed the country into a reluctant hegemon and comparisons with the Nazis have. The Age of Imperialism: An online History. The unit covers United States expansionism around the turn of the century including a lesson plan and test. Neocolonialism labels European countries' continued economic and cultural relationships with their former colonies, African countries that had been liberated in the aftermath of Second World War.

Kwame Nkrumah, former president of Ghana (–66), coined the term, which appeared in the preamble of the Organization of African . Commerce Tacoma, Washington () or toll-free [email protected] Modified: September 14, Economics imperialism. Economics imperialism in contemporary economics refers to economic analysis of seemingly non-economic aspects of life, such as crime, law, the family, prejudice, tastes, irrational behavior, politics, sociology,culture, religion, war, science, and research.

Related usage of the term predates recent decades. Ecological Imperialism: The Biological Expansion of Europe, (Studies in Environment and History) [Alfred W. Crosby] on srmvision.com *FREE* shipping on qualifying offers. People of European descent form the bulk of the population in most of the temperate zones of the world--North America.

What is economic imperialism? (detailed explanation please?)? | Yahoo Answers