The dismal science down under: responses to Thomas Carlyle amongst Australasian Economists, c. 1880–1920

Abstract

Thomas Carlyle is commonly remembered as the arch-nemesis of economics. However, Carlyle’s ideas in fact had a considerable influence among economists in Australia and New Zealand. Indeed, an array of Australasian economists cited Carlyle in criticising self-interest, laissez-faire, and materialism, in suggesting that economic science ought to accord greater importance to ethical factors, and in urging the “Captains of Industry” and the State to exercise paternal guidance over the working classes. In short, Carlyle’s writings shaped Australasian economists’ understanding, portrayal, and critique of the previous generation of so-called “old” economists, as well as their self-understanding as self-professed “new” economists.