RESEARCH IN THE HISTORY OF ECONOMIC THOUGHT AND METHODOLOGY

RESEARCH IN THE HISTORY OF ECONOMIC THOUGHT AND METHODOLOGY

Founding Editor: Warren J. Samuels (1933–2011)

Series Editors: Luca Fiorito, Scott Scheall, and Carlos Eduardo Suprinyak

Recent Volumes:

Volume 35A:Research in the History of Economic Thought and Methodology: Including a Symposium on the Historical Epistemology of Economics; 2017
Volume 35B:Research in the History of Economic Thought and Methodology: Including a Symposium on New Directions in Sraffa Scholarship; 2017
Volume 36A:Research in the History of Economic Thought and Methodology: Including a Symposium on Bruce Caldwell’s Beyond Positivism after 35 Years; 2018
Volume 36B:Research in the History of Economic Thought and Methodology: Including a Symposium on the Work of Mary Morgan: Curiosity, Imagination, and Surprise; 2018
Volume 36C:Research in the History of Economic Thought and Methodology: Including a Symposium on Latin American Monetary Thought: Two Centuries in Search of Originality; 2018
Volume 37A:Research in the History of Economic Thought and Methodology: Including a Symposium on 50 Years of the Union for Radical Political Economics; 2019
Volume 37B:Research in the History of Economic Thought and Methodology: Including a Symposium on Ludwig Lachmann; 2019
Volume 37C:Research in the History of Economic Thought and Methodology: Including a Symposium on Robert Heilbroner at 100; 2019
Volume 38A:Research in the History of Economic Thought and Methodology: Including a Symposium on Public Finance in the History of Economic Thought; 2020
Volume 38B:Research in the History of Economic Thought and Methodology: Including a Symposium on Economists and Authoritarian Regimes in the 20th Century; 2020
Volume 38C:Research in the History of Economic Thought and Methodology: Including a Symposium on Sir James Steuart: The Political Economy of Money and Trade; 2020
Volume 39A:Including a Selection of Papers Presented at the 2019 ALAHPE Conference; 2021

EDITORIAL BOARD

  • Michele Alacevich

    University of Bologna, Italy

  • Rebeca Gomez Betancourt

    University of Lumière Lyon 2, France

  • John Davis

    Marquette University, USA; University of Amsterdam, The Netherlands

  • Till Düppe

    Université du Québec à Montréal, Canada

  • Ross Emmett

    Arizona State University, USA

  • Andrew Farrant

    Dickinson College, USA

  • Nicola Giocoli

    University of Pisa, Italy

  • Harald Hagemann

    University of Hohenheim, Germany

  • Tiago Mata

    University College, London, UK

  • Steven Medema

    University of Colorado Denver, USA

  • Gary Mongiovi

    St. John’s University, USA

  • Mary Morgan

    London School of Economics, UK

  • Maria Pia Paganelli

    Trinity University, USA

  • Gerardo Serra

    University of Manchester, UK

RESEARCH IN THE HISTORY OF ECONOMIC THOUGHT AND METHODOLOGY Volume 39B

RESEARCH IN THE HISTORY OF ECONOMIC THOUGHT AND METHODOLOGY: INCLUDING A SYMPOSIUM ON CARL MENGER AT THE CENTENARY OF HIS DEATH

EDITED BY

LUCA FIORITO

University of Palermo, Italy

SCOTT SCHEALL

Arizona State University, USA

AND

CARLOS EDUARDO SUPRINYAK

Federal University of Minas Gerais (UFMG), Brazil

United Kingdom – North America – Japan – India – Malaysia – China

Emerald Publishing Limited

Howard House, Wagon Lane, Bingley BD16 1WA, UK

First edition 2021

Copyright © 2021 Emerald Publishing Limited

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No part of this book may be reproduced, stored in a retrieval system, transmitted in any form or by any means electronic, mechanical, photocopying, recording or otherwise without either the prior written permission of the publisher or a licence permitting restricted copying issued in the UK by The Copyright Licensing Agency and in the USA by The Copyright Clearance Center. Any opinions expressed in the chapters are those of the authors. Whilst Emerald makes every effort to ensure the quality and accuracy of its content, Emerald makes no representation implied or otherwise, as to the chapters’ suitability and application and disclaims any warranties, express or implied, to their use.

British Library Cataloguing in Publication Data

A catalogue record for this book is available from the British Library

ISBN: 978-1-80071-145-7 (Print)

ISBN: 978-1-80071-144-0 (Online)

ISBN: 978-1-80071-146-4 (Epub)

ISSN: 0743-4154 (Series)

About the Editorsix
List of Contributorsxi
Volume Introductionxiii
PART I: A SYMPOSIUM ON CARL MENGER AT THE CENTENARY OF HIS DEATH
Introduction 
Reinhard Schumacher and Scott Scheall3
The “Improvement of Mankind”: William Stanley Jevons and Carl Menger on Decision Making and Learning 
Sandra J. Peart9
Carl Menger’s Different Concepts of the Value of Money – The Enigma of “The Inner Value of Money” 
Günther Chaloupek23
The New Theory of Individual and Collective Needs in the Second Edition of Carl Menger’s Principles of Economics 
Erwin Dekker43
The Modernity of Carl Menger: Austrian Economics and Complexity Economics 
Sandye Gloria57
PART II: ESSAYS
Penrose and the Indifferent Crowd 
Marina Uzunova77
Rationalities and Their Limits: Reconstructing Neurath’s and Mises’s Prerequisites in the Early Socialist Calculation Debates 
Alexander Linsbichler95

Luca Fiorito received his PhD in economics from the New School for Social Research in New York and is currently Professor at the University of Palermo. His main area of interest is the history of American economic thought in the Progressive Era and the interwar years. He has published many works on the contributions of the institutionalists and on the relationship between economics and eugenics.

Scott Scheall is Assistant Professor and Director of Graduate Studies in the Faculty of Social Science in Arizona State University’s College of Integrative Sciences and Arts. He has published extensively on topics related to the history and philosophy of the Austrian School of economics. He is the author of F. A. Hayek and the Epistemology of Politics: The Curious Task of Economics (Routledge, 2020).

Carlos Eduardo Suprinyak is Associate Professor of Economics at the Federal University of Minas Gerais, Brazil. He specializes in the history and methodology of economics, studying the interplay of social, political, and economic ideas in early modern England, and the institutionalization of economics in Brazil during the postwar era. He has published several papers on these and related themes in peer-reviewed scholarly journals, and is also the co-editor of The Political Economy of Latin American Independence (Routledge, 2017).

Günther ChaloupekAustrian Chamber of Labour, Vienna, Austria
Erwin DekkerErasmus University Rotterdam, Rotterdam, Netherlands
Luca FioritoUniversity of Palermo, Palermo, Italy
Sandye GloriaUniversité Côte d’Azur, Gredeg, Nice, France
Alexander LinsbichlerUniversity of Vienna, Vienna, Austria and HOPE Center at Duke University, Durham, NC, USA
Sandra J. PeartUniversity of Richmond, Richmond, VA, USA
Scott ScheallArizona State University Polytechnic Campus, Mesa, AZ, USA
Reinhard SchumacherUniversität Potsdam, Potsdam, Germany
Marina UzunovaJohn Stuart Mill College, VU Amsterdam, Amsterdam, Netherlands

Volume 39B of Research in the History of Economic Thought and Methodology features a symposium marking the centenary of Carl Menger’s death in 1921. The symposium, co-edited by Reinhard Schumacher and our own Scott Scheall, features contributions addressing the significance of Menger’s work for the history of economics and for contemporary practice from Sandra J. Peart, Günther Chaloupek, Erwin Dekker, and Sandye Gloria.

Volume 39B also includes general-research contributions from Marina Uzunova, who considers the significance of Lionel Penrose’s voting power index for domains other than voting, and Alexander Linsbichler, who discusses Otto Neurath’s and Ludwig von Mises’s respective conceptions of rationality and their meaning for Neurath’s and Mises’s arguments in the socialist calculation debate.

The Editors of Research in the History of Economic Thought and Methodology

Luca Fiorito

Scott Scheall

Carlos Eduardo Suprinyak