Friday, October 11, 2013

Towards a Theoretical Framework for British and International Economic History by Sudha Raghunath Shenoy

Status: WIP (10.11.2013)


Fix Notes:

Page 68: Footnote 19: Ludwig

19. Lugwig von Mises, Socialism (London: Cape 1950), pp. 295-97. Mutuality, authority: p. 296. “Living organism”, “lifeless machinery”, p. 295. Army unit, horse and cart: p. 295.

Page 70: Footnote 78: Missing closing period.

Page 77: par. 1: Footnote 22 is accidentally in the text as "28"

Page 82: Footnote 60 is on the page twice. The second Footnote 60 towards the bottom of the page should be 61.

Page 97: Footnote 2: Constitution

J.G.A. Pocock, The Ancient Consitution and the Feudal Law [...]

Page 97: Footnote 3, third paragraph in blockquote: comparison

And this Customary Law is the most perfect and most excellent, and without comparision the best, [...]

Page 97: Footnote 3, third paragraph in blockquote: inconvenient

[...] during all which time there did thereby arise no inconvenience: for if it had been found invonvenient at any time, it had been used no longer, but had been interrupted, and consequently it had lost the virtue and force of a Law.”

Page 98: Footnote 8: nascitur

[...] which is to be understood of an artificiall perfection of reason, gotten by long study, observation, and experience, and not of every man’s naturall reason; for Nemo nasci-tar artifex.

Page 101: Footnote 44: Missing comma after "History of the Common Law"

Page 102-3: Footnotes 56, 57, 59, 60, 61, 63, 64: Missing opening quote + ellipsis + closing quotation (to match the look of the others)

Page 103: Footnote 83: "pp. 97, 82." -> "pp. 82, 97."

Page 114: par. 1: Inner quotes should become single quotation marks:

The latter are the “innumerable efforts “of economising individuals ’’pursuing individual interests.”

Page 136: par. 4, right before Footnote 78: Missing ”

The second of these strands is a capability of “being brought into a causal connection” with a human need; the third strand is “human knowledge of this... connection.78

Page 139-141: Footnotes in Chapter 3: They all seem to be missing the period in page numbers:

"p 14" "pp 79-80" "p 80"

Page 145: par. 0: up to

[...]upto 1913. For the first time, he was forced to take liberalism seriously. Mises says it was “further study of economics” that led him to abandon his previous political stance.5

Page 147: second blockquote on the page: aprioristic (fits with the usage in the rest of the book).

“The goal of my analysis is ... to distinguish a prioristic science from history ... and to demonstrate the absurdity of the endeavours of the Historical and Institutionalist Schools to reconcile the logically incompatible.”11

Page 159: last par.: pre-existing

Thus the “historical fact” is that a functioning market order first appeared in the course of history and it was in analysing this pre-exiting historical phenomenon that there developed the systematic study of human action — the discipline of praxeology.

Page 167: Footnote 72 should be Footnote 73.

Page 171: second from the bottom: should be changed to right double quote

Mises reiterates that “action “ means only that “the performer believes.. .the means.. .will produce the desired effect.”

Page 176: There is no Footnote 104 (jumps from 103 to 105 at the bottom of the page).

Page 182: par. 0 last sentence: anti-Property

It will be noted that Mises here adopts the Burkean standard — vide Burke’s observations on the anti-Popery laws 129.

Page 221: Footnote 10: "pp. x111" -> "pp. xiii"

“The purpose...”: Epistemological..., pp. x111-xiv. “the untenability...”; scarcity only in a money economy: p. 7. Marginal utility theory only for a free economy: p. 95.

Page 224: Footnote 79: Ultimate

Ulimate, p. 50;

Page 226: Footnote 125: There is accidentally a '>' at the end of the footnote.

Page 226: Footnote 136: Missing a page number in Human Action.

Page 234: par. 2: utilitarian

Hayek made one criticism of Mises on a number of occasions: that he was a rationalist utiliarian, who pushed the “a priori character of economic theory” too far.

Page 238: par. 2: multi-period

Did Hayek work first with the notion of the average period of production and then abandon it for a multiperiod theory?

Page 287: par. 0: jumps from subsection (? not too sure on the term) "iv." to "vi.". Changed to "v."

Therefore, it is iv. instrumental, enabling unknown people to achieve their ends and hence vi. limited in scope.

Page 297: par. 1: patterns

He describes the social sciences as “empirically deductive” — since we obtain the general pattens of social phenomena by drawing out all the implications of people’s actions in the abstract.

Page 306: Footnote 18, subsetion "vi.": Hayek

“Addendum: the early Haye-Keynes correspondence”,

Page 307: par. 0, subsetion "xiv.": progress

Technical progess and excess capacity

Page 314: par. 172: Economic

National Policy for Ecmomic Welfare

Page 330: subsection "v." (bottom half of page): happened

We cannot aim at such an outcome; only after it occurs can we see that this is what happended.

Page 357: par. 3: higher

In Boston in 1547 and in Chester in 1561, beer was significantly cheaper than ale: the best ale cost 15 percent more than the best beer; which also had more strength, while the price of ordinary ale was 50 percent highter than that of single beer.

Page 399: Footnote 64: pp.

Some specific points only: disappearance of old types: ppp. 28-33,39, 42-43; new types that failed:

Page 401: footnote 99: et al

Cunnington, “Costume” in Edwards et cal, [...]

Page ~460, ~519: Missing period after "Vol"

Page 488: par. 1, right before 24: Missing ”

[...] Clay distinguishes such grants from monopolies of “goods in general use” — these monopolies were only a means of raising revenues; they “provided no.. .stimulus to economic activity24.

Page 528: Bibliography: Serfdom

Hayek, F.A., The Road to Serfodom (1944; Chicago: University of Chicago Press, 1976 paperback ed).

Page 541: "economic centralization", under Hayek, Friedrich August changed to "economic centralisation" (match spelling throughout book).


Page 30, 51, 55, 63, 64, 84, 131, 190, 211, 213, 239, 263, 264, 323: I changed "i.", "ii.", "iii.", ... to the "(i.)" format.

Page 74: "Sir Edward Coke" I changed into a heading.

Page 97+: I added blockquotes to the footnotes.

Page 170: bottom of page: There are two footnote 80s.

Page 166 and 167 both have footnote 72.

Page 225+: "HA" changed to "Human Action"

Page 331: This is the only area with an "A. i.", "B. ii." format.

Changed "etc" to "etc."
Changed "fn" to "fn."
Changed "ch " to "ch. "
Changed "chs " to "chs. "
Changed "Bohm Bawerk" to "Bohm Bawerk"


"neoclassical" used 33 times, "neo-classical" used 12 times.

Page 69 Footnote 65: Should this be "358"?

65. Equilibrium: Socialism., pp. 163, 196; Human Action., pp. 250, 356, 3258, 257-58, 613, 710, 711. Pricing is social: pp. 338, 614, 760, 873. Individual in market: p. 331.

Page 138: par. 2, last sentence: This is missing a period, where should the period be placed?

They learn to me goods of second, third, and higher orders” [italics supplied]83

Page 155: par. 2: should be a left single quote... but should this quotation even be covered in extra single quotes?

Thus Menger explained “social phenomena” as the “’unintended outcome ... not deliberately designed or aimed at by specifically individual endeavours of the members of a society.’”

Page 235: par. 1: presidential (?) (This could be either/or)

Hayek made the above statements some 46 years after he first wrote “Economics and Knowledge” (it was his presential address to the London Economic Club on 10 November 1936; published in Economica, 1937).

Page 236: par. 0: Missing page number, what page belongs here?

[...] taken from Theory and History (p._); Mises says there [I omit a couple of sentences not germane here]:

Page 264: par. 1: Missing page number, what page belongs?

As we shall see (below, p._), Hayek appears to have read and assimilated Ferguson by early 1940, since he refers in “Scientism” to social institutions that are not designed but are the results of human action. In the article on “Planning” (mentioned above), he uses Ferguson’s formulation (at the end of the following passage):

Page 306: Footnote 14: Missing page numbers.

Page 308: Footnote 25: Missing a page number in Human Action.

~Page 360: Keeps swapping from "s." and "sh.". I assume both stand for "shillings". In all the other books I have worked on, this has been condensed to the "s." form.

Page 373: ????

Now with the Oxfordshire and Worcestershire inventories just mentioned, the average value of clothing increased about times in absolute terms between the late sixteenth and the late seventeenth century, though the proportion declined, relative to other consumer goods.

Page 401: Footnote 100: Missing a book name.

Page 460: Footnote 1: Missing year on "John Patten, English Towns 1500-1700"

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