Nobody downloaded yet

The Victorian World and the Underworld of Economics - Essay Example

Comments (0) Cite this document
Summary
Robert Heilbroner in this chapter “The Victorian World and the Underworld of Economics” argues that most of the early economic thinker’s works went underworld of economics due to its irrelevance or lack of attention at the time. Some of the thinkers whose work was…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER97% of users find it useful
The Victorian World and the Underworld of Economics
Read TextPreview

Extract of sample
"The Victorian World and the Underworld of Economics"

Download file to see previous pages Marx predicted the immiseration of the working class and eventual collapse of capitalism but this did not happen. Instead, wages kept increasing during Victorian Age and the working hours shortened thus transforming proletariat into petty bourgeoisies (p. 170). Malthus went underworld due to arithmetical absurdity of his idea of ‘general glut’ while the utopians were deemed to be talking nonsense which was not “economics” (p. 177-178). Edgeworth (1845-1926) introduced the concept of quantities and applied mathematics to economics but his work was rejected as it ignored the human factor thus it went underworld. Bastiat on the other hand, added humor to economics and was a defender of free trade but still went underworld.
Henry George (1839-1897) was a very popular economist in England and the U.S especially due to his book Progress and Poverty (1879) which indicated that the true cause of poverty and industrial depression was land rent (Heilbroner, 1999, p. 187). He argued that rent brought about not only hardships for capitalists but also workingmen hence was an injustice. He believed rent was a social extortion that led to speculation in land values hence economic depression or “paroxysms” (p. 187). The only solution to the problem of depression was a single massive tax on land equal to its rent. This would eliminate all other taxes hence raise wages and capital earnings. It would also “abolish poverty, lead to remunerative employment for all, purify government and afford free scope to human power” (p 187-188). He also advocated taking away land from owners even if it meant war as, “there was never a holier cause” (p.189). Though his work was a worthy successor to Adam Smith’s Wealth of Nations it went into underworld of economics due to lack of logic; industrial depression cannot be blamed on land speculation as evidence shows severe depressions do occur in countries where land values are not inflated.
John Hobson was concerned ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“The Victorian World and the Underworld of Economics Essay - 1”, n.d.)
Retrieved from https://studentshare.org/history/1651273-the-victorian-world-and-the-underworld-of-economics
(The Victorian World and the Underworld of Economics Essay - 1)
https://studentshare.org/history/1651273-the-victorian-world-and-the-underworld-of-economics.
“The Victorian World and the Underworld of Economics Essay - 1”, n.d. https://studentshare.org/history/1651273-the-victorian-world-and-the-underworld-of-economics.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document
CHECK THESE SAMPLES - THEY ALSO FIT YOUR TOPIC
Victorian literature
...be identified: 1. Literature of this epoch tends to move closer to the everyday life of the common people which reveals its realistic issues and concern. It turns out to be an authoritative tool for human development economically and socially. Industrialism was on the increasing point and a variety of reform movements like child labor, emancipation, evolution and women’s rights. 2. The works of this era contained a moral purpose. The Victorian writing appears to diverge from "art for art's sake" and emphasizes its moral rationale. Browning, Tennyson, Ruskin Carlyle all was the educators of England with the trust in their ethical message to educate the world. 3. Idealism was a noted...
15 Pages(3750 words)Essay
Managerial Economics - Disney World
...Mickey Mouse Monopoly: Disney Walt Disney or commonly known as Disney World is a major recreational source having four main theme parks. Other than these, it contains water parks, golf courses, sports complex and a race track. It started on October 1, 1971 with a mission to capture the market in a whole more specifically, to recover the lose in market due to other theme parks like Six Flags etc. Back to history, Disneyland was the first theme park located in Anaheim, California. Being the unique in market it played the role as monopolistic business with attendance of around 134,300. But, in this world of competition no one remains alone to grasp. Soon, competition came up and Disneyland started to lose...
2 Pages(500 words)Case Study
Victorian fashion
...attest to her knowledge of modern techniques of constructing a fashionable body, and the importance she gave to maintaining an up-to-date appearance. Women's "spontaneous consent" to wearing these garments was an ongoing and contested process which served fashion industry needs for continual purchase. Innovations in dress which supported women's desires for comfort would continue because industrialists sought not to end women's desires for fashion change, but to contain them. (http://www.corsetheaven.com/corsets/articles/corsetless.asp) Chapter 2 The impact of the corset upon the Victorian woman's body and mind Susan Brownmiller noted that 'no discussion of the feminine body in the western world can...
24 Pages(6000 words)Essay
Victorian America
...Victorian America and the ‘feminisation of American culture’ Introduction Although Queen Victoria ruled Great Britain from 1837 until her death in 1901, her influence during what has been labeled the Victorian Age stretched across the ocean to touch the lands of America, albeit a little delayed. Therefore, the American Victorian Age is typically considered to have taken place roughly between the years of 1876 as Reconstruction following the Civil War was winding down and 1914 when the first World War, then known as the Great War, began.1 This was a time full of rapid change in America, in which every aspect of society was affected. The country gained 12 new states, doubling its geographical area, voted on 10 new amendments... ...
18 Pages(4500 words)Essay
Victorian life
...Task: Victorian life Victoria’s case, it became habitual for families to observe intricate rites to venerate their deceased.These practices included dressing in mourning attire, holding an expensive interment, restraining social behavioural patterns within a span of time and the erection of an elaborate headstone on the grave (McCaffrey). Moreover, mourning attire was the family’s superficial embodiment of their sombre mood and emotions. The intricate stipulations for what to dress in and for what time were in past popular journals or home handbooks such as the Cassell’s, which were extremely popular with Victorian housewives (Angelpig). In occasions with profound mourning, all attire was to be black, a...
2 Pages(500 words)Research Paper
Economics in the World
...Economics in the Gulf Cooperation Council (GCC) Executive Summary This paper is a review of the key structural characteristics of the economies of the Gulf Cooperation Council (GCC), which is composed of six member states. This paper also focuses on the macroeconomic developments that have been taking place in the GCC countries over recent years. Through this report, certain policy issues which are faced by decision- makers in the GCC are critically evaluated. Dynamics in innovation have continued to be influenced by emerging successful innovators. The increase in oil reserves in the GCC states has led to a significant increase in trade. Between 2003 and 2006, trade in goods within these countries doubled. GCC states’...
13 Pages(3250 words)Essay
Victorian Era
...A Discussion on the Victorian Era The apartment was a French residence necessary now to meet the demands of the growing middle Ans. False 2. The reign of Queen Anne in England led to prosperity and aided in the rise of the Victorian Era. Ans. False 3. The hip roof popularized by the French architect, Francois Mansart, was called “Mansard” roof and used often in French revival architecture. Ans. True 4. The Industrial Revolution has a positive impact on the economy in both France and England. Ans. True 5. In both the French and English revival styles, designers looked to the past and embraced many different styles. Ans. True 6. In French apartment buildings the window height was placed taller to smaller...
3 Pages(750 words)Assignment
Victorian Literature
...Victorian Literature Introduction The Victorian literature was marked by the Victorian era when Queen Victoria was ruling from 1837 to 1901. The poetry that was written during this era was thus called the Victorian poetry (literature). This paper aims at analyzing this era in the poetic context and also in the faith, religion, and contemporary sources of the period. The Mid-Victorian Fait During the mid-Victorian era, poetry addressed the then issues like religious faith, sexuality, racial reforms, and social reforms that often lead to series of devastating debate (Cronin & Harrison, 2008). More importantly, the poets at the time like...
1 Pages(250 words)Essay
Victorian Literature
... Task: Victorian Literature Monologue as a literary technique has proved effective in different works of literature. Robert Browning and Alfred Lord Tennyson are considered masters in dramatic monologues based on different works. Despite variety in themes, fear strikes out to be a major idea in both of their works. In my last Duchess by Browning, the relativity of life with reference to sympathy and judgment depicts fear. The amazing sense of morality makes it easy to identify the fear to exploit life because of the egregious support for historical generalization. In essence, Browning monologue plunges readers into a world without trustworthy and moral judgement. Company of ruined questers has an interesting feature in the logic... apparent...
1 Pages(250 words)Essay
Hades and the Underworld
...the underworld were figurative of the feeling life in Hades. The rivers were vastly hidden beneath the surface of the perceptible physical world and bear lifeless souls. These rivers represent the Underworld water channels that divide the visible world from the Underworld and indicate the influence of the reticent feeling life. Inside the cave was a gate that led to a neutral zone, where crying and melancholic souls could be heard. The area was called the Fields of Mourning that also acted as a waiting area where the spirits of the souls of the prematurely dead stopped to be permitted into Hell. These spirits included children, suicides, massacre...
10 Pages(2500 words)Essay
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Let us find you another Essay on topic The Victorian World and the Underworld of Economics for FREE!
logo footer
Contact us:
+16312120006
Contact Us Now
FREE Mobile Apps:
  • StudentShare App Store
  • StudentShare Google play
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • Miscellaneous
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us