IDEAS home Printed from https://ideas.repec.org/p/osf/osfxxx/kznuj_v1.html
   My bibliography  Save this paper

The “Social Value” Debate: An Early Chapter in the History of American Marginalism

Author

Listed:
  • Fiorito, Luca

Abstract

This paper provides a reconstruction of the debate on “social value” among early marginalists in the US. This will be done in three steps. The first section analyses John B. Clark’s approach to social value as presented in his Distribution of Wealth; the second section deals with other influential contemporaries who adopted a similar social value perspective, with a main focus on Edwin R. A. Seligman; the third section discusses those critics who, with due differences in emphasis and style, animated the debate over social value, reviewing (among others) the contributions of Herbert J. Davenport, Joseph Schumpeter, Benjamin Anderson, John Maurice Clark, and George P. Watkins, the final section presents some conclusions.

Suggested Citation

  • Fiorito, Luca, 2022. "The “Social Value” Debate: An Early Chapter in the History of American Marginalism," OSF Preprints kznuj_v1, Center for Open Science.
    • Handle: RePEc:osf:osfxxx:kznuj_v1
    DOI: 10.31219/osf.io/kznuj_v1
    as

    Download full text from publisher

    File URL: https://osf.io/download/6251a8f5840dd7148d5c8159/
    Download Restriction: no
    File URL: https://libkey.io/10.31219/osf.io/kznuj_v1?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Thomas C. Leonard, 2016. "Illiberal Reformers: Race, Eugenics, and American Economics in the Progressive Era," Economics Books, Princeton University Press, edition 1, number 10572.
    2. Charles A. Tuttle, 1901. "The Fundamental Economic Principle," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 15(2), pages 218-253.
    3. E. Böhm-Bawerk, 1907. "Capital and Interest Once More: II. A Relapse to the Productivity Theory," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 21(2), pages 247-282.
    4. Hugo Bilgram, 1915. "The Equivalent Concept of Value," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 30(1), pages 194-200.
    5. Lewis H. Haney, 1913. "The Social Point of View in Economics. I," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 28(1), pages 115-139.
    6. Ivan Moscati, 2007. "History of consumer demand theory 1871 - 1971: A Neo-Kantian rational reconstruction," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 14(1), pages 119-156.
    7. Edwin R. A. Seligman & F. W. Taussig, 1906. "Seligman's Principles of Economics: A Reply and a Rejoinder," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 21(1), pages 151-165.
    8. Luca Fiorito & Massimiliano Vatiero, 2018. "Positional goods and social welfare: a note on George Pendleton Watkins’ neglected contribution," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 25(3), pages 460-472, May.
    9. John Ise, 1932. "Recent Textbooks on Economics and their Trend," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 46(2), pages 385-397.
    10. Charles E. Persons, 1913. "Marginal Utility and Marginal Disutility as Ultimate Standards of Value," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 27(4), pages 547-578.
    11. Paul T. Homan, 1927. "John Bates Clark: Earlier and Later Phases of His Work," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 42(1), pages 39-69.
    12. Ralph Barton Perry, 1916. "Economic Value and Moral Value," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 30(3), pages 443-485.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Fiorito, Luca, 2022. "The “Social Value” Debate: An Early Chapter in the History of American Marginalism," OSF Preprints kznuj, Center for Open Science.
    2. McCloskey Deirdre Nansen, 2018. "The Two Movements in Economic Thought, 1700–2000: Empty Economic Boxes Revisited," Man and the Economy, De Gruyter, vol. 5(2), pages 1-20, December.
    3. Jack High, 2011. "Dr. Anderson and the Austrians: Price formation as a cumulative process," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 24(2), pages 199-211, June.
    4. Carlana, Michela & Tabellini, Marco, 2018. "Happily Ever After: Immigration, Natives' Marriage, and Fertility," Working Paper Series rwp18-035, Harvard University, John F. Kennedy School of Government.
    5. Deirdre Nansen McCloskey, 2019. "Lachmann practiced humanomics, beyond the dogma of behaviorism," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 32(1), pages 47-61, March.
    6. Curott, Nicholas A. & Snow, Nicholas A., 2022. "Nudging To Prohibition? A Reassessment of Irving Firsher’s Economics of Prohibition in Light of Modern Behavioral Economics," OSF Preprints dv97k_v1, Center for Open Science.
    7. Giocoli, Nicola, 2011. "From Wald to Savage: homo economicus becomes a Bayesian statistician," MPRA Paper 34117, University Library of Munich, Germany.
    8. Cruz-e-Silva, Victor & Almeida, Felipe, 2024. "Correa Moylan Walsh Beyond Index Numbers: From The “Battle Of The Standards” To The Science Of Money," Journal of the History of Economic Thought, Cambridge University Press, vol. 46(1), pages 69-91, March.
    9. Jacques-Laurent Ravix, 1999. "Nature et mesure du capital dans la théorie du capital productif de Böhm-Bawerk," Cahiers d'Économie Politique, Programme National Persée, vol. 35(1), pages 37-61.
    10. Phillip W. Magness, 2018. "The Progressive Legacy Rolls On: A Critique of Steinbaum and Weisberger on Illiberal Reformers," Econ Journal Watch, Econ Journal Watch, vol. 15(1), pages 1-20–34, January.
    11. Hoover, Kevin D. & Young, Warren, 2013. "Rational Expectations: Retrospect And Prospect," Macroeconomic Dynamics, Cambridge University Press, vol. 17(5), pages 1169-1192, July.
    12. Sunna, Claudia & Ricciardo, Traci M., 2023. "Before Brain Drain: Italian Economists On The Calculus Of The Value Of Men," SocArXiv nw8qz_v1, Center for Open Science.
    13. Brînduşa Mihaela RADU, 2021. "Green Energy Production In Romania," Internal Auditing and Risk Management, Athenaeum University of Bucharest, vol. 62(2), pages 19-29, June.
    14. Sunna, Claudia & Ricciardo, Traci M., 2023. "Before Brain Drain: Italian Economists On The Calculus Of The Value Of Men," Journal of the History of Economic Thought, Cambridge University Press, vol. 45(4), pages 603-624, December.
    15. Fiorito, Luca & Erasmo, Valentina, 2023. "Franklin H. Giddings on Race and Eugenics: A Note," SocArXiv gd7af_v1, Center for Open Science.
    16. Richard S. J. Tol, 2022. "Rise of the Kniesians: the professor-student network of Nobel laureates in economics," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 29(4), pages 680-703, July.
    17. Néstor Garza & Gisell Pugliese, 2009. "Elección teórica en economía: el caso de las teorías de crecimiento de Solow, Romer y Ramsey," Revista Cuadernos de Economia, Universidad Nacional de Colombia, FCE, CID, June.
    18. Pirgmaier, Elke, 2021. "The value of value theory for ecological economics," Ecological Economics, Elsevier, vol. 179(C).
    19. Frasser, Cristian & Guzmán, Gabriel, 2024. "The Plurality of Economic Classifications: Toward a New Strategy for Their Investigation," MPRA Paper 121166, University Library of Munich, Germany.
    20. Robert J. Shiller & Virginia M. Shiller, 2011. "Economists as Worldly Philosophers," American Economic Review, American Economic Association, vol. 101(3), pages 171-175, May.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:osf:osfxxx:kznuj_v1. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: OSF (email available below). General contact details of provider: https://osf.io/preprints/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.