By Roger E. Backhouse, Tamotsu Nishizawa
This publication re-examines early-twentieth-century British welfare economics within the context of the emergence of the welfare country. There are clean perspectives of the well known Cambridge college of Sidgwick, Marshall, Pigou, and Keynes, via Peter Groenewegen, Steven G. Medema, and Martin Daunton. this is often positioned opposed to a much less famous Oxford method of welfare: Yuichi Shionoya explores its foundations within the idealist philosophy of T. H. eco-friendly; Roger E. Backhouse considers the paintings of its best exponent, J. A. Hobson; and Tamotsu Nishizawa discusses the unfold of this technique in Britain. ultimately, the e-book covers welfare economics within the coverage area: Maria Cristina Marcuzzo and Atsushi Komine speak about Keynes and Beveridge, and Richard Toye issues to the prospective impression of H. G. Wells on Churchill and Lloyd George. a considerable advent frames the dialogue, and a postscript relates those rules to the paintings of Robbins and next advancements in welfare economics.
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Additional info for No Wealth but Life: Welfare Economics and the Welfare State in Britain, 1880-1945
Backhouse and Tamotsu Nishizawa discussing British economics, it is essential to remember the wide international influence of the German historical school, the work of which had a very broad influence on countries ranging from the United States to Japan. The Japanese economist Fukuda shows how, within a framework established by the German historical school, it was possible to integrate approaches ranging from Marshall to Hobson, which in Britain were seen as fundamentally different: that, even when discussing British work, it is important to bear in mind the international context.
472–3). More generally, Marshall concluded that the specific direction of consumption and production played a role in determining whether a stable position of equilibrium was one of maximum welfare. Opportunities for the rich to direct their consumption expenditures to commodities and services created by the poor were another example of an exception to this proposition; directing consumption to products from diminishing returns industries and away from those of increasing returns industries likewise had the potential for influencing the welfare of others by detrimentally affecting price and supply, and lowering the real purchasing power of incomes, and hence the degree of satisfaction that could be derived from such incomes, ceteris paribus.
Eds. 2006. The Elgar Companion to Alfred Marshall. Cheltenham: Edward Elgar. Richter, M. 1964. The Politics of Conscience: T. H. Green and His Age. London: Weidenfeld and Nicolson. Robbins, L. C. 1932 . An Essay on the Nature and Signifi cance of Economic Science. London: Macmillan. Ruskin, J. 1994 . Unto This Last: Four Essays on the First Principles of Political Economy. London: Routledge/Thoemmes Press. Rutherford, M. 2007. Institutionalism and Its English Connections. European Journal of the History of Economic Thought 14(2): 291–323.
No Wealth but Life: Welfare Economics and the Welfare State in Britain, 1880-1945 by Roger E. Backhouse, Tamotsu Nishizawa