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Pareto On Classical Political Economy: ‘Per La Verità’

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  • Michael McLure

    (Economics Department, Business School, The University of Western Australia)

Abstract

In this essay, I investigate Pareto’s understanding of classical political economy as a science, with particular emphasis on the themes of surplus, value and the cost of production. For those themes, this study reveals that Pareto considered substantive economic knowledge to have developed asymptotically. In reaching that view, and in emphasising the substantive continuity in the progress of economics from classical political economy to the economics of the Lausanne school, I attempt to clarify why Francesco Ferrara’s critical assessment of, and positive contribution to, classical political economy was important for Pareto’s appreciation of the classical approach.

Suggested Citation

  • Michael McLure, 2022. "Pareto On Classical Political Economy: ‘Per La Verità’," Economics Discussion / Working Papers 22-13, The University of Western Australia, Department of Economics.
    • Handle: RePEc:uwa:wpaper:22-13
    Note: MD5 = 80d5ab9fe2472ad68955b7a1c705f49a
    as

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    File URL: https://ecompapers.biz.uwa.edu.au/paper/PDF%20of%20Discussion%20Papers/2022/DP%2022.13_McLure.pdf
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    References listed on IDEAS

    as
    1. Antonio Guccione, 1993. "Ferrara's Theory of Value and the Cost of Reproduction Principle," History of Political Economy, Duke University Press, vol. 25(4), pages 677-696, Winter.
    2. Michael V. White, 2002. "Doctoring Adam Smith: The Fable of the Diamonds and Water Paradox," History of Political Economy, Duke University Press, vol. 34(4), pages 659-683, Winter.
    3. Manuela Mosca, 2005. "De Viti de Marco, historian of economic analysis," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 12(2), pages 241-259.
    4. Tarascio, Vincent J, 1976. "Pareto: A View of the Present through the Past," Journal of Political Economy, University of Chicago Press, vol. 84(1), pages 109-122, February.
    5. Minelli, Enrico & Guidi, Marco E. L. & Guccione, Antonio, 2004. "A Note on Francesco Ferrara's Cost of Reproduction," Journal of the History of Economic Thought, Cambridge University Press, vol. 26(1), pages 107-114, March.
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