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Marshall: Just how Interested in Doing Good was he?

Published online by Cambridge University Press:  11 June 2009

Rhead S. Bowman
Rhead S. Bowman
Affiliation:
School of Business, Southern Utah University, 351 West Center St., Cedar City, UT 84720, USA.
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Extract

This paper critiques the way Alfred Marshall is presented in many histories of economic thought, in particular, the typical neglect of the relation of his economic theory and method to his public policy proposals and views on economic evolution. A good example is the textbook of Stanley L. Brue, The Evolution of Economic Thought, which is specifically policy oriented. He notes in his remarks on Marshall's life and method: “Marshall's thinking left room for cautious reform, that is, modest departures from laissez-faire” (2000, p. 295). But the only illustration of this is Marshall's discussion of the welfare effects of industry taxes and subsidies. However, even here Brue concludes (2000, p. 316) with a quote from Marshall: “These conclusions, it will be observed, do not by themselves afford a valid ground for government interference.”

Type
Research Article
Information
Journal of the History of Economic Thought , Volume 26 , Issue 4 , December 2004 , pp. 493 - 518
Copyright
Copyright © The History of Economics Society 2004

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