Preface

Summary

This book is a collection of essays on topics in the history of economics which were selected from the point of view of their relation to current mainstream economics. One aim of studying this history of economics is to learn of thoughts and theories quite different from those of mainstream Walrasian economics. Thus we may develop the science further in new directions and new areas. Topics like division of labor, economy of scale, wages, profit, international trade, the market mechanism, and money are considered from the point of view of non-Walrasian economic theories – those of the classical, Marxist, Austrian, Jevonian, and Cambridge schools – as well as from the point of view of Walrasian economic theory. This book is, therefore, a natural sequel to my previous studies of Walrasian economics (General equilibrium theory and international trade, 1972) and non-Walrasian economics (Microeconomic foundations of Keynesian macroeconomics, 1979).

I owe thanks for valuable comments and warm encouragement to my colleagues in the University of Tokyo, members of the Japanese History of Political Economy (HOPE) Association, and participants of seminars where some of the essays were read. Although some of them are mentioned in relevant chapters below, I regret that I cannot mention names of the many other persons to whom I am greatly indebted. My research activities have been supported financially by the Foundation for Promoting Economics of the University of Tokyo.