An Essay on the Nature and Significance of Economic Science, by Lionel Robbins (1932, 1945)–full text online (pdf). Next year is the 75th anniversary of its publication. It will be the topic of a panel at the ASC 2007.
I should like, however, once more to acknowledge my especial indebtedness to the works of Professor Ludwig von Mises and to the Commonsense of Political Economy of the late Philip
Wicksteed. The considerable extent to which I have cited these sources is yet a very inadequate reflection of the general assistance which I have derived from their use.
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Many props to the Institute for putting this
important essay online.
Is this available in print? Because there’s no way I will read that on line, as much as I’m interested.
Angelo,
Download it. Print it.
Lionel Robbins emerges very attractively from a new book in which he figures prominently, as a vigorous advocate of free trade (and critic of economic nationalism as a threat to peace) when Keynes was tempted by protectionism in the early 1930s, and as an ally of Keynes during World War II in seeking to create an open post-war international economic order. It’s Donald Markwell, John Maynard Keynes and International Relations: Economic Paths to War and Peace, published by Oxford.
Despite his disagreements with Keynes on trade, Robbins makes a couple of friendly-enough references to him in his Essay on the Nature & Significance of Economic Science, which it is great to have so accessible in this form.
One thing has long been mystery for me; Why is Robbinsian economics which is based on individual choice theoretic foundation said to be different from Austrian econ. I have seen sometimes said that it’s more like “Mises light” – version of Austrianism.
John Hicks wrote a famous book titled Capital and Value, where this Robbinsian system can be clearly seen. It’s micro side contains so much Austrian themes.
Separation between micro and macro in modern mainstream economics is main reason why concepts of Austrian origin are not so dominant anymore.
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