Titlebook: J. A. Hobson; Michael Schneider Book 1996 Michael Schneider 1996 economics.international economics.John Maynard Keynes.Keynes.welfare

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,Hobson’s Life and Times,radigm; in the realm of ideas, he was a revolutionary. This was not because he was adversarial by nature. It was rather because he believed that there were important aspects of the workings of an economy which orthodox economic theory either explained incorrectly or did not explain at all.

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Income Distribution and Prices,ng’ (1899), provide the basis of .. Before examining the arguments developed in these works, however, we look briefly at Hobson’s explanation of changes in the distribution of income between occupational categories.

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Trade, Capital Flows and Imperialism,cies, concluding that it is not the former but the latter that is responsible. As a prelude to the exposition of this theory of imperialism we look at Hobson’s analyses of these two aspects of economic activity.

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Money and Credit,ting of . was prompted by the rise in prices experienced in industrialised countries from 1896 onwards, which Hobson regretted, mainly because he saw it as leading to greater inequality in the distribution of income.

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Underconsumption,es Maitland, Eighth Earl of Lauderdale, Thomas Robert Malthus, J.-C.-L. Simonde de Sismondi and Johann Karl Rodbertus, among others. These predecessors, however, were practitioners of what J. A. Schumpeter termed ‘advance economics’, by contrast with ‘synchronisation economics’: