Marshall on Progress and People's Welfare
Journal title HISTORY OF ECONOMIC THOUGHT AND POLICY
Author/s Tamotsu Nishizawa
Publishing Year 2012 Issue 2012/1
Language English Pages 18 P. 21-38 File size 101 KB
DOI 10.3280/SPE2012-001003
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The paper focuses on Marshall’s ideas of the economic and socio-ethical progress, of the development of man’s higher faculties, and of people’s welfare and improvement of their quality of life. The studies on economic and social progress with prospects for the elimination of human poverty and the higher development of human faculties, were ‘the high theme’ and the crucial ideas of his whole economics writings of Marshall. For him ‘the solution of economic problems was not an application of the hedonistic calculus, but a prior condition of the exercise of man’s higher faculties’. The paper stresses a nonutilitarian perspective. The first section examines the man’s economic conditions and human character, work and life, economic and ethical progress. Then the second section discusses about the ideas moralizing capitalism and citizenship, which is followed by the section on education and strength of the people; and supported by the discussions on the cumulative effects of people’s wages in the final section.
Keywords: Economic progress, ethical progress, work and life, moralizing capitalism, strength of the people, cumulative effects of wages, Alfred Marshall
Jel codes: B1, B13, N3
Tamotsu Nishizawa, Marshall on Progress and People's Welfare in "HISTORY OF ECONOMIC THOUGHT AND POLICY" 1/2012, pp 21-38, DOI: 10.3280/SPE2012-001003