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.
Nobody downloaded yet

The Victorian World and the Underworld of Economics - Essay Example

Comments (0)
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 paper
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
Comments (0)
Click to create a comment
Victorian literature
The process approximately consists of the period starting from 1830 to 1900, although there is plenty of disparity concerning even this trivial matter. Victorian literature implies the body of the fictional work that used to be written throughout the period of influence of Queen Victoria on the United Kingdom, since 1837 till her demise during 1901.
15 Pages(3750 words)Essay
China in the World Economics
As a successful trading nation and a partner in world trading system, China also poses hope for offering more opportunities to business and developmental potential within her ever-expanding economic space. With issues like WTO compliance, Human Rights, Intellectual Property rights and business and international labour or other services sector that pose veritable concern for European and American partners, China's hope towards the "China's Century" goal is quite undiminished.
12 Pages(3000 words)Essay
Managerial Economics - Disney World
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.
2 Pages(500 words)Case Study
Victorian fashion
Critics contend that corsets constricted women's bodies and women's lives. Corsets stressed a woman's sexiness, exaggerating hips and bust by contrast with a tiny waist. Women's ball gowns bared the shoulders and tops of the breasts. The tight-fitting jersey dresses of the 1880s may have covered the body, but they left little to the imagination.
24 Pages(6000 words)Essay
Victorian internet
expression is, actually, a title to Tom Standage’s 1998 book in which he describes how the telegraph technology changed the way people communicated; how it revolutionized business, and made way for new levels of contact and communication, be it romance, crime or
2 Pages(500 words)Essay
Economics in the World
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
13 Pages(3250 words)Essay
THE VICTORIAN AGES: discuss Charles dicken's representatiion of the natural world in the book GREAT EXPECTATIONS
The story is written during Victorian era that is considered to be a changing period for Great Britain. This is the time of dilatation worldwide and becoming strong and powerful country. With the
3 Pages(750 words)Essay
Victorian Literature
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,
1 Pages(250 words)Essay
Victorian Literature
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,
1 Pages(250 words)Essay
Hades and the Underworld

This research will begin with the statement that the word myth comes from the Greek word mythos, which means “story” or “speech.” The myth is often the term used to describe a story that explains events or objects that occur in nature. These may include the creation of plants or animals, the location of deserts or oceans, and even the origin and cycle of the seasons.

10 Pages(2500 words)Essay
Let us find you another Essay on topic The Victorian World and the Underworld of Economics for FREE!
Contact us:
Contact Us Now
FREE Mobile Apps:
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us