Considerations on the Fundamental Principles of Pure Political Economy
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Considerations on the Fundamental Principles of Pure Political Economy

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Between May 1892 and October 1893 the Giornale degli Economisti published Vilfredo Pareto's Considerazioni sui principi fondamentali dell'economia politica pura in five parts. Viewed in its entirety, the outcome is essentially a classic monograph on the fundamental issues in pure economic theory in the Lausanne tradition.


Pareto's work forms a document of major historical significance which, to date, has only been available to the relatively small number of international economists and historians of economics who read Italian. This first English language edition is a significant landmark in the history of economics.
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Product details

  • Paperback | 162 pages
  • 154.94 x 228.6 x 12.7mm | 317.51g
  • ROUTLEDGE
  • London, United Kingdom
  • English
  • 28 Line drawings, black and white; 2 Tables, black and white; 28 Illustrations, black and white
  • 1138806250
  • 9781138806252

Table of contents

Introduction: Considerations on the Fundamental Principles of Pure Political Economy, Part 1:











Introductory remarks













Difficulty of the topic







Explanation of the ways that have been followed in this work







Various quantitative methods







Various degrees of rationality in the principles assumed as the basis of this science







Use of mathematics in Political Economy







Precautions required by the use of the mathematical method







A priori objections to the new theory













Value



2.1. Object of a theory of value


2.2. The hedonistic theory


2.3. Total utility and final degree of utility


2.4. Fundamental principle of hedonistic calculus






The economics of the individual





3.1. Reasons at play in determining a barter


3.2. Limit of the hedonistic theories





Considerations on the Fundamental Principles of Pure Political Economy, II. (Giornale degli Economisti, June 1892)





1. Fundamental theorem of the transformation of any given number of goods


2. Final degree of utility of instrumental goods


3. Cases where the final degree of utility of money is approximately constant


4. Relationship between the final degree of utility of money and the prosperity of a people


5. The variety of human needs


6. Discontinuity of the phenomenon


7. Final degree of utility of instrumental goods of various orders





Considerations on the Fundamental Principles of Pure Political Economy, III. (Giornale degli Economisti, August 1892)











Supply and Demand







Law of the variation of supply and demand







Law of supply and demand assuming that the final degree of utility of an economic good decreases when the quantity of the latter increases







Determination of the final degree of utility when the laws of demand and supply are known







Need for new phenomena to be considered







Numerical calculation of the final degrees of utility







Usefulness of measuring the final degrees of utility







Necessary qualities that restrict the laws of demand







Fungible economic goods







Average final degrees of utility for more than one person







Total utility








Considerations on the Fundamental Principles of Pure Political Economy, IV. (Giornale degli Economisti, January 1893)











Fundamental property of final degrees of utility







Daniel Bernoulli's Theorem







Final degree of utility of money








Considerations on the Fundamental Principles of Pure Political Economy, V. (Giornale degli Economisti, October 1893)





1. Most general form of the final degrees of utility


2. Some examples of total utility


3. Final degrees of utility corresponding to particular laws of supply and demand





Pareto's Notes


Editors's Notes


Index
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