The New Palgrave Dictionary of Economics

2018 Edition
| Editors: Macmillan Publishers Ltd

English School of Political Economy

  • A. M. C. Waterman
Reference work entry


The ‘English School’ of political economy describes the tradition of economic thought that began with Malthus, and included Henry Thornton, Chalmers, James Mill, Torrens, West, Ricardo, and Thomas Tooke in the first generation; Whately, Senior, McCulloch and J.S. Mill in the second; and the Fawcetts, Cairnes, Jevons, Bagehot, Foxwell, Sidgwick, J.N. Keynes and Nicholson in the third. J.-B. Say was an honorary member. Karl Marx identified his own work with that school. Its most important production was J.S. Mill’s Principles of Political Economy, which continued to be used as a textbook until the mid-20th century.


American economic association Anderson, J. Bagehot, W. Bentham, J. Böhm- Bawerk, E. von Boisguilbert, P. de Brougham, H. Bullion committee Cairnes, J. E. Cassel, G. Chadwick, E. Chalmers, T. Christian political economy Clark, J. B. Classical economics Cliffe Leslie, T. E. Comparative advantage Condillac, E. B. de Diminishing returns Edgeworth, F. Y. English school of political economy Factor substitution Fawcett, H. Fawcett, M. G. Fisher, I. Foxwell, H. S. Free trade Harrod, R. F. Horner, F. Hume, D. Increasing returns to scale Jeffrey, F. Jevons, W. S. Jones, R. Keynes, J. N. Labour theory of value Lauderdale, eighth earl of Lloyd, W. F. Longfield, M. Malthus, T. R. Mandeville, B. Marginal revolution Marginal utility Marshall, A. Marx, K. H. Mathematics and economics Mayerne- Turquet, L. de McCulloch, J. R. Menger, C. Mercantilism Mill, J. Mill, J. S. Montchrétien, A. de Natural price Neutrality of money Nicholson, J. S. Norman, G. W. Pareto, V. Pigou, A. C. Political economy Political economy club Poor law Productive and unproductive labour Quesnay, F. Ricardo, D. Robbins, L. C. Say, J.-B. Say’s identity Say’s law Scrope, G. P. Senior, N. W. Sidgwick, H. Smith, A. Smith, S. Sraffa, P. Stationary state Steuart, J. Stewart, D. Sumner, J. B. Surplus Thornton, H. Thornton, W. T. Thünen, J. H. von Tooke, T. Torrens, R. Turgot, A. R. J. Utilitarianism Walker, F. A. Walras, L. Wayland, F. Weiser West, E. Whately, R. Whewell, W. Wicksell, J. G. K. Wicksteed, P. H. Young, A. A. 

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Authors and Affiliations

  • A. M. C. Waterman
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