History of Economic Thought

D. P. O’Brien
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D. P. O’Brien: University of Durham

Chapter 4 in Lionel Robbins, 1988, pp 41-50 from Palgrave Macmillan

Abstract: Abstract Robbins attached great importance to the history of economic thought as part of the education of those studying economics — a subject which was too narrow on its own. Study of past theory should help us to understand the problems of the past andto appreciate more fully both the strengths and limitations of modern theory. History of economic thought broadened the range of intellectual possibilities under consideration, and it helped to provide a cultural background for courses.1 He argued for compulsory courses in the history of economic thought2 and did much to promote the subject at LSE3 — his Theory of Economic Policyoriginated in his LSE lectures.4 He struggled against the insularity of English economics5 and against the curious narrowing of vision which results from knowing only very recent literature.6 Undoubtedly he felt at some stages that he was fighting a losing battle;7 but he was ultimately successful to a remarkable degree. There seems little doubt that the revival of interest in the subject in Britain in the post-war years owed an enormous debt to his direct influence.8

Keywords: Monetary Policy; Marginal Revenue; Black Reaction; Economic Thought; Love Affair (search for similar items in EconPapers)
Date: 1988
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-09683-1_4

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DOI: 10.1007/978-1-349-09683-1_4

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