The British Authors
We have already reviewed the work of H. Lloyd who was among the earliest mathematical economists. For some fifty years, however, while important developments were taking place in other parts of Europe, the appearance of Lloyd’s book was not followed, as far as we know, by any other contribution to mathematical economics from any British author, apart from the contribution of Samuel Gale, who was an American and with whom we deal at the end of this section.
KeywordsPolitical Economy Demand Elasticity Mathematical Economic Cambridge Philosophical Society Paper Money
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- 7.E. R. A. Seligman, ‘On Some Neglected British Economists’, Economic Journal (1903) p. 352, reproduced also in Essays in Economics (1925) by the same author.Google Scholar
- 24.Ibid., p. 21. See also, J.P. Henderson, William Whewell’s Mathematical Statements of Price Flexibility, Demand Elasticity and the Giffen Paradox (The Manchester School of Economic and Social Studies, 1973 ) pp. 329–42Google Scholar
- J.L. Cochrane, William Whewell’s Mathematical Statements (The Manchester School of Economic and Social Studies, 1975 ) pp. 396–400; J.P. Henderson, Rejoinder, ibid., pp. 401–3.Google Scholar
- 25.Whewell, ‘Mathematical Exposition of Some of the Leading Doctrines in Ricardo’s Principles of Political Economy and Taxation’ read in 1831 and published in vol. iv of the Transactions of the Cambridge Philosophical Society (1833) pp. 155–98. Whewell returned to the same subject in vol. ix (1856) of the Transactions (part 1, pp. 128–49 and part ti, pp. 1–7), where he examines questions of demand, supply, price and international exchanges and uses the concept of demand elasticity to identify various classes of goods, including goods like diamonds, whose demand changes in the same direction as their price.On Whewell, see also: R. D. Theocharis, ‘William Whewell’ in International Encyclopedia of the Social Sciences (New York, 1968 ) pp. 531–2Google Scholar
- J.L. Cochrane, The First Mathematical Ricardian Model in History of Political Economy, 1970, pp. 419–31;Google Scholar
- S. Rashid, ‘William Whewell and Early Mathematical Economics’, Manchester School of Economic and Social Studies, 1977, pp. 381–91.Google Scholar
- 30.E. R. A. Seligman, ‘On Some Neglected British Economists’, Economic Journal (1903) p. 352 n.Google Scholar