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The History of Economic Policy in the Context of a History of Economic Thought

Prof. Erik Reinert
Date: 04 from 08, august 2003


1ª session: introduction. Methodology and Toolboxes: Types of Economics and Theories of History. Strategies, Learning, Technological Change and Economic Development.

Readings: The Other Canon, “Two Different Ways of Understanding the Economic World and The Wealth and Poverty of Nations (3 pages),

Bruce Henderson: Boston Consulting Group, Perspectives on Strategy (1998): “Business Thinking”, BC, pp.260-263.

Erik Reinert: ‘Karl Bücher and the Geographical Dimensions of Techno-Economic Change: Production-Based Economic Theory and the Stages of Economic Development.

2ª session: The Renaissance, Mercantilism, Cameralism and Colbertism. Statecrafting and Nation-Building. Economic Growth as Activity-Specific. The Dutch Republic and Spain as examples of ‘Good’ and ‘Bad’ Foreign Trade. The Role of Cities and Diversity, Scale and Synergies.

Readings: Reinert & Daastol: “Exploring the Genesis of Economic Innovations: The Religious Gestalt-Swich and the Duty to invent as Preconditions for Economic Growth”, pp. 1-24 (= 122-264).

Gustav Schmoller: “The Mercantile System and is Historical Significance”, particularly pp. 1-17, 29-36, 49-80. (NB pp. 50-51),

Daniel Defoe: ‘A Plan of English Commerce’(1730) pp. 126-135,

Philipp von Hornick: ‘Nine Principal Rules of National Economy’, from ‘Austria Over All if She Only Will (1684), (Monroe pp. 223-227).

 


3ª session: From Bernard Mandeville’s Revolution (1714) to Friedrich List (1841) / The Economic Policies of the 19th Century. Physiocracy, anti-physiocracy and Adam Smith. List & USA vs. English Theory and English Practice.

Readings: Alexander Hamilton: ‘Report on the Manufactures”,

Friedrich List: ‘Introduction to the National Systems of Political Economy’.

Optional: Reinert: ‘Raw Materials in the History of Economic Policy, or, why List (the Proctecionist) and Cobden:(the Free Trader) Both Agreed on Free Trade in Corn’

4a session: The Economic Effects of 1948: Marx. Nietzsche, Schumpeter & Creative Destruction / Taming US Capitalism: Veblen and American Institutionalism. Marx, the Kathedersozialisten and the Verein für Sozialpolitik, The German Historical School.

Reading: Reinert & Reinert: ‘Creative Destruction in Economics: Nietzsche, Sombart, Schumpeter’,

Robert Heibroner: ‘The Savage Society of Thorstein Veblen’,

Reinert: ‘The Role of Technology in the Creation of Rich and Poor Nations: Underdevelopment in a Schumpeterian System’ – (Rich Nations – Poor Nations)

5ª session: The Short 20th Century: Fordism and Keynesianism to Globalisation and Marginalisation /Technological Change and Financial Crises. The Strategies of Ireland, Finland & The United States vs, a ‘Morgenthau Plan’ for Parts of the Second and Third Worlds.

Readings: Carlota Perez: “Technological Change and Financial Crises”, particularly pages 1-15 & 38-70. Perspectives on Strategy from the Boston Consulting Group”, pp. 9-24, 35-37,

Reinert: ‘Free Trade as a Morgenthau Plan: a Case Study of Mongolia in the 1990’s. (on www.othecanon.org),

Optional text for the week: Reinert: ‘The Role of the State in Economic Growth’, on www.otecanon.org.


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