History and Political Economy: Essays in Honour of P.D. by Aspromourgos

By Aspromourgos

Outstanding and authoritative, this crucial ebook brings jointly a suite of essays in honour of Peter Groenewegen, essentially the most unusual historians of monetary considered a new release. His paintings on a variety of monetary theorists similar to Adam Smith, Fran?ois Quesnay and Alfred Marshall techniques a degree of close to insuperability.

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He summed up the dispute as a ‘long, and in the end, rather unproductive conflict’ that produced unwelcome turmoil in the economics department of the University with which he was for so long associated (Groenewegen 1997:14). Post-Retirement Now, in his ‘senior’ years, Peter Groenewegen will find other roles to fill. Perhaps only historians can fully appreciate the contingencies in human affairs, which can be the difference between great success and heart-breaking failure. The notion that human quality always gets its reward in the end is a fable suitable only for the comforting of children.

To this question we can give an answer that actually shows the coherence of the philosopher. And this answer is illuminating for our problem. The self-sufficiency that Aristotle talks about does not exclude human relations in general. , economic relations. These relations exist when man is not self-sufficient and therefore lacks autonomy. In fact only the self-sufficient man is truly autonomous and can establish free social relations. Therefore non-economic social relations are autonomous. In contrast, economic relations, being utilitarian, are not autonomous.

10 In Ross’s translation, ‘need’ and ‘demand’ appear strictly connected. Aristotle’s reasoning is expressed this way: ‘That demand holds things together as a single unit is shown by the fact that when men do not need one another…they do not exchange’. Thus demand, which expresses need, is the unit of measurement shared by the goods exchanged, while money exactly reflects this measurement. It is therefore demand that equates, for instance, five beds with one house (Nic. Ethics, 1133a, 25–30:381a; 1133b, 19–30:381b).

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