TY - JOUR A1 - Panhans, Matthew T. A1 - Schumacher, Reinhard T1 - Theory in closer contact with industrial life BT - American institutional economists on competition theory and policy JF - Journal of institutional economics N2 - This paper investigates the views on competition theory and policy of the American institutional economists during the first half of the 20th century. These perspectives contrasted with those of contemporary neoclassical and later mainstream economic approaches. We identify three distinct dimensions to an institutionalist perspective on competition. First, institutionalist approaches focused on describing industry details, so as to bring theory into closer contact with reality. Second, institutionalists emphasized that while competition was sometimes beneficial, it could also be disruptive. Third, institutionalists had a broad view of the objectives of competition policy that extended beyond effects on consumer welfare. Consequently, institutionalists advocated for a wide range of policies to enhance competition, including industrial self-regulation, broad stakeholder representation within corporations, and direct governmental regulations. Their experimental attitude implied that policy would always be evolving, and antitrust enforcement might be only one stage in the development toward a regime of industrial regulation. KW - Competition KW - economic thought KW - industrial organization KW - institutional KW - economics KW - institutionalism KW - public policy Y1 - 2021 U6 - https://doi.org/10.1017/S1744137421000357 SN - 1744-1374 SN - 1744-1382 VL - 17 IS - 5 SP - 781 EP - 798 PB - Cambridge Univ. Press CY - Cambridge ER - TY - JOUR A1 - Schumacher, Reinhard T1 - Altering the pattern of trade in the wealth of nations BT - Adam Smith and the historiography of international trade theory JF - Journal of the history of economic thought N2 - There are three different interpretations of Adam Smith's trade theory in modern literature: first, the neoclassical theory of absolute advantage; second, an interpretation based on increasing returns; third, an interpretation of uneven development. These interpretations come to widely different conclusions, especially considering the development of the pattern of trade in Smith's theory. I discuss how these three interpretations emerged. They do not stem from a more detailed analysis of Smith's works itself but reflect changes within international trade theory. They all result from the fact that economists have imposed nineteenth- and twentieth-century modes of thoughts on Smith's theory, forcing his writings into later-developed theoretical frameworks. In contrast to classical economists in the nineteenth century, these subsequent interpretations misrepresent Smith's trade theory in order to portray him as a forerunner of later theories. The differing interpretations can thus be explained only against the backdrop of the development of international trade theory. Y1 - 2020 U6 - https://doi.org/10.1017/S1053837219000130 SN - 1053-8372 SN - 1469-9656 VL - 42 IS - 1 SP - 19 EP - 42 PB - Cambridge University Press CY - New York ER - TY - JOUR A1 - Lange, Jerome A1 - Schumacher, Reinhard A1 - Svorencik, Andrej T1 - From antiquity to modern macro BT - an overview of contemporary scholarship in the history of economic thought journals, 2015-2016 JF - History of economic ideas N2 - This survey provides an overview of topics related to the history of economics that have been discussed within the last two years in journal articles. The survey format has been started by History of Economic Ideas last year with the survey by Giulia Bianchi (2016) and is aimed to increase the visibility of research in the history of economics. The emphasis of our survey is on the big three journals in the history of economics: the European Journal of the History of Economic Thought, the Journal of the History of Economic Thought and History of Political Economy. We also included additional journals that frequently publish articles related to the history of economics. These include, in alphabetical order, the Cambridge Journal of Economics, Contributions to Political Economy, Economic Thought, the Erasmus Journal for Philosophy and Economics, History of Economic Thought and Policy, the History of Economics Review, the Journal of Economic Literature, the Journal of Economic Methodology, the Journal of Economic Perspectives, OE conomia, Oxford Economic Papers and Research in the History of Economic Thought and Methodology. KW - History of economics KW - survey of literature KW - preclassical economics KW - classical economics KW - 20th-century economics Y1 - 2017 UR - http://digital.casalini.it/10.19272/201706102007 U6 - https://doi.org/10.19272/201706102007 SN - 1122-8792 SN - 1724-2169 VL - 25 IS - 2 SP - 171 EP - 205 PB - Fabrizio Serra Editore CY - Pisa ER - TY - JOUR A1 - Paganelli, Maria Pia A1 - Schumacher, Reinhard T1 - The vigorous and doux soldier BT - David Hume’s military defence of commerce JF - History of European ideas N2 - If war is an inevitable condition of human nature, as David Hume suggests, then what type of societies can best protect us from defeat and conquest? For David Hume, commerce decreases the relative cost of war and promotes technological military advances as well as martial spirit. Commerce therefore makes a country militarily stronger and better equipped to protect itself against attacks than any other kind of society. Hume does not assume commerce would yield a peaceful world nor that commercial societies would be militarily weak, as many contemporary scholars have argued. On the contrary, for him, military might is a beneficial consequence of commerce. KW - Trade and conflict KW - commercial peace KW - David Hume KW - doux commerce KW - cost of war KW - martial spirit Y1 - 2018 U6 - https://doi.org/10.1080/01916599.2018.1509225 SN - 0191-6599 SN - 1873-541X VL - 44 IS - 8 SP - 1141 EP - 1152 PB - Routledge, Taylor & Francis Group CY - Abingdon ER - TY - JOUR A1 - Schumacher, Reinhard T1 - Rezension zu: Dale, Gareth: Karl Polanyi: a life on the left. - New York: Columbia University Press, 2016. - xii, 381 S. - ISBN: 978-0-231-17608-8 JF - Journal of the history of economic thought Y1 - 2018 U6 - https://doi.org/10.1017/S1053837217000220 SN - 1053-8372 SN - 1469-9656 VL - 40 IS - 2 SP - 296 EP - 298 PB - Cambridge Univ. Press CY - New York ER - TY - JOUR A1 - Scheall, Scott A1 - Schumacher, Reinhard T1 - Karl Menger as Son of Carl Menger JF - History of political economy N2 - Relatively little is known about the relationship between Carl Menger, founder of the Austrian school of economics, and his son, Karl Menger, the mathematician, geometer, logician, and philosopher of science, whose mathematical colloquium at the University of Vienna was essential for the development of mathematical economics. Based on Karl Menger’s diaries and correspondence, the present paper considers the development and struggles of the young Karl Menger, focusing on the years 1919–23, when Vienna was a vanquished city. We discuss the various relations within the Menger family and their significance for Karl Menger’s intellectual development. Additionally, we consider his acquaintances with economists such as Knut Wicksell, David Davidson, and Eli Heckscher as well as the younger Menger’s work in economics. We shed new light on his editorship of the second edition of his father’s Grundsätze der Volkswirtschaftslehre. Y1 - 2018 U6 - https://doi.org/10.1215/00182702-7202512 SN - 0018-2702 SN - 1527-1919 VL - 50 IS - 4 SP - 649 EP - 678 PB - Duke Univ. Press CY - Durham ER - TY - JOUR A1 - Paganelli, Maria Pia A1 - Schumacher, Reinhard T1 - Do not take peace for granted BT - Adam Smith’s warning on the relation between commerce and war JF - Cambridge journal of economics N2 - Is trade a promoter of peace? Adam Smith, one of the earliest defenders of trade, worries that commerce may instigate some perverse incentives, encouraging wars. The wealth that commerce generates decreases the relative cost of wars, increases the ability to finance wars through debts, which decreases their perceived cost, and increases the willingness of commercial interests to use wars to extend their markets, increasing the number and prolonging the length of wars. Smith, therefore, cannot assume that trade would yield a peaceful world. While defending and promoting trade, Smith warns us not to take peace for granted. KW - Commercial peace KW - Adam Smith KW - Doux commerce KW - Perceived cost versus actual cost of war KW - Special interests Y1 - 2018 U6 - https://doi.org/10.1093/cje/bey040 SN - 0309-166X SN - 1464-3545 VL - 43 IS - 3 SP - 785 EP - 797 PB - Oxford Univ. Press CY - Oxford ER - TY - JOUR A1 - Schumacher, Reinhard T1 - Rezension: Shigeyoshi Senga, Masatomi Fujimoto, Taichi Tabuchi (Eds.).: Ricardo and International Trade. - London: Routledge, 2017. - x, 276 S. - ISBN: 978-1-138-12245-1 JF - Journal of the History of Economic Thought Y1 - 2019 U6 - https://doi.org/10.1017/S1053837218000317 SN - 1053-8372 SN - 1469-9656 VL - 41 IS - 3 SP - 435 EP - 438 PB - Cambridge Univ. Press CY - New York ER - TY - JOUR A1 - Schumacher, Reinhard T1 - Propriety and Prosperity: New Studies on the Philosophy of Adam Smith, Archival Insights Into the Evolution of Economics JF - Journal of behavioral and experimental economics Y1 - 2016 U6 - https://doi.org/10.1016/j.socec.2016.02.002 SN - 2214-8043 SN - 2214-8051 VL - 62 SP - 51 EP - 52 PB - Elsevier CY - New York ER - TY - JOUR A1 - Schumacher, Reinhard T1 - Adam Smith and the "rich country-poor country" debate: eighteenth-century views on economic progress and international trade JF - The European journal of the history of economic thought KW - "rich country-poor country debate" KW - Adam Smith KW - Josiah Tucker KW - David Hume KW - economic progress Y1 - 2016 U6 - https://doi.org/10.1080/09672567.2015.1050046 SN - 0967-2567 SN - 1469-5936 VL - 23 SP - 764 EP - 793 PB - Elsevier CY - Abingdon ER -