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Henry George's Thought in Relation to Modern Economics
Author(s) -
Dwyer Terence M.
Publication year - 1982
Publication title -
american journal of economics and sociology
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.199
H-Index - 38
eISSN - 1536-7150
pISSN - 0002-9246
DOI - 10.1111/j.1536-7150.1982.tb03042.x
Subject(s) - george (robot) , economics , neoclassical economics , capital (architecture) , commons , debt , history of economic thought , economic thought , classical economics , positive economics , law , political science , history , macroeconomics , art history , archaeology
A bstract .Henry George's influence on economic thought has been neglected although his readers included Clark, Marshall, Hobson, Commons, Lerner and Böhm‐Bawerk and his ideas provoked thought and discussion, Clark made clear that George stimulated him to develop his marginal productivity theory. But the 19th century American theorist affected or touched upon the neoclassical concept of capital , the theory of externality , the neoclassical versus the classical concept of monopoly ; the entitlements approach to distributive justice ; the burden of debt and other transfer incomes and capital formation and the theory of expectations. George's influence is wider than generally recognized. The last of the classical economists , he wrote in high Victorian prose about some very modern problems.