David Bourget (Western Ontario)
David Chalmers (ANU, NYU)
Rafael De Clercq
Jack Alan Reynolds
Learn more about PhilPapers
Foundations of Science 13 (3-4):265-280 (2008)
This paper reviews Aristotle’s problematic relationship with modern economic theory. It argues that in terms of value and income distribution theory, Aristotle should probably be seen as a precursor to neither classical nor neoclassical economic thought. Indeed, there are strong arguments to be made that Aristotle’s views are completely at odds with all modern economic theory, since, among other things, he was not necessarily concerned with flexible market prices, opposed the use of money to acquire more money, and did not think that the unintended consequences of human activity were generally beneficial. The paper argues however, that this interpretation goes too far. The Benthamite neoclassical theory of choice can be seen as a dumbing down of Aristotle’s theory, applicable to animals, not humans. Adam Smith and Karl Marx were deeply influenced by Aristotle’s work and both started their main economic works with Aristotle: Smith ultimately rejecting, and Marx ultimately developing Aristotle’s views of the use of money to acquire more money. Possibilities for the future development of a new Aristotelian Economics are explored
|Keywords||Aristotle Economic theory Adam Smith Karl Marx Jeremy Bentham|
|Categories||categorize this paper)|
|Through your library||Configure|
Similar books and articles
Frank Vorhies (1989). Marx on Money and Crises. Critical Review 3 (3-4):531-541.
Milan Zafirovski (2000). The Rational Choice Generalization of Neoclassical Economics Reconsidered: Any Theoretical Legitimation for Economic Imperialism? Sociological Theory 18 (3):448-471.
P. X. Monaghan (2010). A Novel Interpretation of Plato's Theory of Forms. Metaphysica 11 (1):63-78.
Adelino Zanini (2008). Economic Philosophy: Economic Foundations and Political Categories. Peter Lang.
Anne Newstead (2001). Aristotle and Modern Mathematical Theories of the Continuum. In Demetra Sfendoni-Mentzou & James Brown (eds.), Aristotle and Contemporary Philosophy of Science. Peter Lang.
Ricardo Crespo (2008). 'The Economic' According to Aristotle: Ethical, Political and Epistemological Implications. [REVIEW] Foundations of Science 13 (3-4):281-294.
Todd S. Mei (2009). The Preeminence of Use: Reevaluating the Relation Between Use and Exchange in Aristotle's Economic Thought. Journal of the History of Philosophy 47 (4):pp. 523-548.
Scott Meikle (1997). Aristotle's Economic Thought. Clarendon Press.
Paolo Crivelli (2004). Aristotle on Truth. Cambridge University Press.
Added to index2009-01-28
Total downloads33 ( #43,567 of 1,014,518 )
Recent downloads (6 months)1 ( #64,884 of 1,014,518 )
How can I increase my downloads?