Influence Of Classical Economics Research Articles

The Classical Limits to Police Power: Adam Smith and the Economic Foundations of the Slaughterhouse Dissents

The paper examines the influence of classical economics on an important episode in the American 19th-century jurisprudence on business regulation, the Slaughterhouse Cases of 1873. Law historians know well that the dissents penned in that occasion by Supreme Court Justices Field and Bradley lay down the fundamental doctrines of the later Lochner era of laissez faire constitutionalism. The paper argues that these dissents were inspired by Adam Smith’s system of natural liberty and, in particular, by his views about the regulation of negative externalities and the undesirability of government-granted monopolies. The Smithian influence emerges even more clearly when the outstanding briefs presented by counsel for the plaintiffs John A. Campbell are also taken into account.

Religion and Commerce

Religion and Commerce Linda M. Scott Ever under the influence of classical economics, contemporary observers in the West tend to think of religion and commerce as two domains that are—or at least should be—tightly sealed off from each other. However, the longer human record shows the persistent influence of religion on commercial practices, while commerce has always "tainted" the space of the sacred. Today, as throughout human history, the touchpoints between religion and economics are frequent. And, given the geopolitical turmoil between the Christian and Muslim world, we are perhaps becoming a bit more aware of the way religious beliefs influence commercial practices and funnel economic choices. So, I am pleased to be able to offer this issue's theme, Religion and Commerce. The first article, "Service Provider Use of Christian Religious Messages in Yellow Pages Advertising" by Diane Halstead, Paula Haynes, and Valerie Taylor, documents the motivations behind small business owners' use of Christian symbolism in their yellow pages advertising. I believe readers will find it illuminating to compare the findings from this article with those of second piece "Bargaining with God: Religion, Advertising, and Commercia Success in Keyna" by Catherine Dolan and Mary Johnstone-Louis, which investigates the thinking behind the religious names given small businesses by their owners in Kenya. The differences between the two cultures on the role of religion in the conduct of commerce are striking and provocative. In many world studies of religious attitudes, such as those conducted by the Pew organization, the United Kingdom ranks near the bottom among nations on religiosity. Yet, in spite of the secularism so typical of this society, Pauline Maclaran and I have found a treasure trove of spiritual imagery in the New Age "Mecca" that Glastonbury has become. I hope that readers will enjoy this photoessay, which features the names, product offerings, and events that typify this small English town's spiritual economy. Finally, I am grateful to have a short essay on Islamic branding from Paul Temporal, one of the leading brand consultants in Asia. Paul has worked in marketing in Malaysia, a Muslim majority country, for many years and has some very large corporate and government clients. His thoughts on the emergence of the Islamic brand will surprise many and may stimulate some readers to consider research in this emerging arena. Copyright © 2009 The Advertising Educational Foundation, Inc.

The Institutionalists and on the Origin of Species: A Case of Mistaken Identity

In 1898, when Thorstein Veblen raised question, Why is economics not an evolutionary science? [29, 56-81] he sparked a controversy among American academic economists which, while far less intense than in years past, remains today a basis for criticism against economic orthodoxy [9, x-xi]. The critics have been loosely identified under rubric of institutional economists. While it is beyond present intent to explain many and varied forms of institutional economics, it is important to observe that in its Veblenian version it claimed to be under influence of Charles Darwin [13]. My approach here is to raise Veblen's question again, to probe reasons why economics has not become an evolutionary science. The arguments advanced are not supportive of institutional economics. If anything they are strengthening to conventional economic theory. The major point to be advanced is that Veblenian form of institutionalism rests upon a seriously flawed understanding of roots of Darwinian methodology. Support for this argument rests on a recent and rather extraordinary body of literature, which may be characterized as the origin of 'The Origin'. Biologists and historians of science have over past few years penetratingly explored Darwin's intellectual links to political economy, and in so doing they have without intent revealed structural flaw in use institutional economists made of Darwinian thought. Moreover, for present day economists, new literature has greatly expanded largely unknown influence of classical economics as scaffolding for evolutionary biology. The paper is organized as follows. The first section documents reliance Veblenian institutionalists placed upon work of Darwin. The reliance is traced through Veblen and through one of his major disciples, C. E. Ayres, who certainly was for second and third quarters of twentieth century one of more prominent and prolific exponents of institutional economics.' In section two linkages between Darwin and classical economists are established. The final section discusses consequences which new evidence on Darwin's intellectual development poses for institutionalists. The implications new literature poses for historians of economic thought is also set forth.

Political Economists and the English Poor Laws: A Historical Study of the Influence of Classical Economics on the Formation of Social Welfare Policy

<i>Political Economists and the English Poor Laws: A Historical Study of the Influence of Classical Economics on the Formation of Social Welfare Policy</i>

Raymond G. Cowherd. Political Economists and the English Poor Laws: A Historical Study of the Influence of Classical Economics on the Formation of Social Welfare Policy. Athens: Ohio University Press. 1977. Pp. xvii, 300. $15.00

Raymond G. Cowherd. <italic>Political Economists and the English Poor Laws: A Historical Study of the Influence of Classical Economics on the Formation of Social Welfare Policy</italic>. Athens: Ohio University Press. 1977. Pp. xvii, 300. $15.00