Jump to ContentJump to Main Navigation
Economics in PerspectiveA Critical History$
Users without a subscription are not able to see the full content.

John Kenneth Galbraith

Print publication date: 2017

Print ISBN-13: 9780691171647

Published to Princeton Scholarship Online: May 2018

DOI: 10.23943/princeton/9780691171647.001.0001

Show Summary Details
Page of

PRINTED FROM PRINCETON SCHOLARSHIP ONLINE (www.princeton.universitypressscholarship.com). (c) Copyright Princeton University Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in PRSO for personal use.date: 16 September 2021

Completion and Criticism

Completion and Criticism

Chapter:
(p.195) Chapter 14 Completion and Criticism
Source:
Economics in Perspective
Author(s):

John Kenneth Galbraith

Publisher:
Princeton University Press
DOI:10.23943/princeton/9780691171647.003.0014

This chapter examines the criticisms hurled against economic ideas associated with the classical tradition in the industrial world during the first decades of the twentieth century. Karl Marx was long gone from the scene, but disturbing ideas would come from his heir, Lenin. One was the notion that the working class of the industrial countries knew no fatherland. As to the classical tradition itself, the instruction of Alfred Marshall, partly through his Principles of Economics, was now without any challenge in England. The chapter first considers money and banking during the period before discussing issues pertaining to monopolies and competition. It also looks at some important developments that influenced economic attitudes and policy during the period, including the October Revolution of 1917 in Russia and the migration of economists from Poland, Hungary, Austria and Romania to the West, where they would dominate economic discussions in the years ahead.

Keywords:   classical tradition, Lenin (Vladimir Ilyich Ulyanov), working class, Alfred Marshall, money, banking, monopolies, competition, October Revolution, economists

Princeton Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs , and if you can't find the answer there, please contact us.