by Sylvia Nasar
Keynes on, 240–42, 327–30
post–World War I, 218–19, 227–28, 231–32, 262, 281–86, 300
post–World War II, 387
standard, 157–64, 169, 284–86
supply, 167, 170, 367–69
value of, 240–41, 283–85, 304
See also Banking; Credit; Federal Reserve; Gold standard; specific currencies
Monopolies, 33, 156, 324, 347, 350
Monroe Doctrine, 150
Mont Pelerin Society, 403–404
Moore, G. E., 343
Principia Ethica, 239
Moral Sciences Tripos, 67, 68–69
Morgan, J. P., 182
Morgan, Junius, 92
Morgenstern, Oskar, 276
Morgenthau, Henry, 362, 369, 371, 391, 395, 406, 415
Morgenthau Plan, 406
Mosley, Oswald, 294–95
Muggeridge, Malcolm, 340
Multiculturalism, 447
Musil, Robert, 216
Muslims, 450, 457
Mussolini, Benito, 340, 346
Myrdal, Gunnar, 387–88, 394, 408
N
Napoleonic Wars, 4
Napoléon III, 28
National Agricultural Laborers’ Union, 69–72
National Bureau of Economic Research, 366
National Conservation Commission, 165
National Farmers Union, 363
National Gallery, London, 199, 200
National income accounts, 365–66
Nationalization, 214, 216, 228
National Planning Association, 363
National Resources Planning Board, 363, 365, 409, 411, 419
Nazism, 299, 331, 335, 336, 360, 375, 387, 395, 396, 400
Nehru, Jawaharlal, 449, 454, 459
New Deal, 325, 326, 331, 336, 337, 363, 365, 385, 397, 415, 416, 419
opponents, 400
New Republic, 283, 288, 289, 411, 437
New Statesman, 127, 197, 283
Newsweek, 400, 403
Newton, Isaac, 447
New York Federal Reserve Bank, 322
New York Telephone, 302
New York Times, 44, 110, 158, 184, 261, 274, 305, 312, 314, 325, 326, 339, 400, 410
New York Tribune, 43
New York University, 278, 364, 399
Nicholson, Harold, 237, 250, 251
Nightingale, Florence, 49
Nixon, Richard, 425
Nineteenth Century, The, 105, 118
Northumberland, HMS, 44
Norton, Charles Eliot, 74
Noyes, Alexander, 183
Nuclear weapons, 419, 426, 447
O
Office of Price Administration, 363, 368
Oppenheimer, Francis, 207, 230–31, 235
Orlando, Vittorio, 251
Orr, Lord Boyd, 428, 436, 444
Orwell, George, 394, 399
1984, 388
Ottoman Turks, 185, 209, 248
Overend bank collapse, 44–46
Owen, Robert, 74
Oxford University, 55, 56, 155
P
Pabst, Georg, 265
Paley, Tom, 67, 68
Paley, William, 67
Pall Mall Gazette, 50, 103, 111, 118, 139
“The Bitter Cry of Outcast London,” 103–104
Panic of 1893, 86, 154
Panic of 1907, 137, 183–85
Pareto, Vilfredo, 155, 457
Paris Peace Conference, 231–32, 236–38, 245–61, 395
reparations debate, 244–61, 290
Parry, Jack, 430–31
Paul, Ludwig, 223–24
Pearl Harbor, 361, 394, 420
Pearson, Karl, 190
Peel, Robert, 4
Perceval, Spencer, 341
Perkin, Harold, 21
Pétain, Marshal, 357
Picasso, Pablo, 282, 437
Pigou, Arthur, 242, 343, 344, 351, 437
Platts-Mills, John, 433
Poincaré, Henri, 155, 176
Poland, 222, 224, 402, 433
Political economy, 14, 15, 23–28, 50, 57–62, 63, 116, 150, 151
change and, 65
of 1860s–70s, 40–47, 50, 57–62, 63–86
of 1880s–90s, 86–90, 100–138
Marshall on, 63–65, 71–90
Marx and Engels on, 14–18, 22–28, 34–47
Mayhew on, 28–32
Mill on, 32–34, 38, 60–62
See also Economics; specific economists
Pollitt, Harry, 433
Ponzi, Charles, 413–14
Poor Laws, 6–7, 13, 132, 133
Popper, Karl, 403
Population, 5–6, 24, 192
growth, 18, 188, 439
London, 18, 21, 25, 29, 30
Malthus’s law on, 4–7, 33, 38
post–World War II, 438–39
Potter, Laurencina, 96–97, 100, 107
Potter, Richard, 92, 95–99, 107, 109, 111, 113, 120, 124, 298
Pounds, 162, 28, 240, 245, 282, 285, 286, 316, 393
Poverty, xii, xiii, 148, 169–70, 189, 205, 462
Dickens on, 3–10
1840s–50s British, 5–10, 12–32, 33, 42–43
1860s–70s British, 48–52, 63–65
1880s–90s British, 97, 100–101, 103–105, 110–18, 129, 130–38
Mayhew’s “Labour and the Poor” series, 28–34, 38
modern welfare state and, 131–38
post–World War II, 437–38, 446–51, 455, 456, 459
twentieth-century British, 293, 385
See also specific countries
Pre-Raphaelites, 68, 116
Presidency College, 451, 456
Princeton University, 194, 204, 364
Pritt, D. N., 433
Private property, 16, 23, 37, 63, 86–87, 191, 206
Productivity, 64, 81, 90, 132, 166, 169, 170, 188, 189, 272, 304, 336, 386, 423, 462
American, 74–76, 89–90, 140–44, 155, 363
competition and, 84–90
low, 64, 88
Marshall on, 64–65, 80–85, 86–90
World War II, 362–63
Prohibition, 312
Proletariat, 15, 16, 27, 52
Property rights, 16, 23, 33, 37, 63, 86–87, 191, 192, 206
Marshall on, 63, 86–90
of women, 33, 94
Prostitution, 104, 125, 265
Proudhon, Pierre-Joseph, 37
Proust, Marcel, 237, 275
Swann’s Way, 177
Punch, 31
Purchasing Power of Money index, 303
Q
Quine, Willard van Orman, 417
“Quit India” movement, 449
R
Radicals, 3–4, 60, 64, 67, 86, 95, 104, 119
Radio, 296, 297, 319
Roosevelt’s fireside chats, 360, 383
Rae, John, 166
Railroads, 19, 33, 40, 179, 296
American, 75, 76, 141, 153, 155, 156, 413
Austrian, 173, 174
British, 19, 22, 30, 43, 45, 51, 61, 95, 137
Egyptian, 183
Ramsey, Frank, 202–203, 343, 344
Rawls, John, 455
A Theory of Justice, 457
RCA, 296
Reader’s Digest, The, 399
Recessions, 272–73, 308, 310, 322–23
Great Depression, see Great Depression
of 1950s, 424
post–World War I, 208–213, 264–265, 296, 300–301, 312, 319, 342
of 2008–2009, 463
Reform Act of 1867, 57–58
Relief. See Welfare
Religion, 4, 5 6, 12, 17, 51, 99, 145
Marx on, 16, 17
missionaries, 51
New England Evangelicalism, 145
Remington Rand, 302, 304, 305, 312, 314
Renner, Karl, 214, 217, 224, 228, 231, 233, 263, 276
Rheinische Zeitung, 12, 15, 36
Rhodes, Cecil, 179, 182
Ricarde-Seaver, Gladys, 171, 178–79
, 183, 185, 186, 193, 200, 228, 270
Ricardo, David, 14, 32–34, 37, 60, 63, 73, 112, 116, 150, 436
iron law of wages, 32–33, 34, 71
On the Principles of Political Economy and Taxation, 32
Riddell, Lord, 249
Robbins, Lionel, 280, 332–34, 375, 390, 391, 404
The Great Depression, 334
Robertson, Dennis, 348
Robinson, Austin, 255, 341, 342, 344–49, 353, 406, 407, 436
Robinson, Joan, 332, 342–53, 402, 426–45
The Accumulation of Capital, 442–43
at Cambridge, 341–46
China and, 436, 441–44, 446
Communism and, 351–52, 429–45
Conference Sketchbook, 428, 429
death of, 455
on economic growth, 437–43
Economic Philosophy, 445
on economics, 347–53, 431–45
The Economics of Imperfect Competition, 350, 438
Kahn collaboration, 347–51, 353, 354, 442
Keynes and, 341, 344, 348–51, 431–32, 435, 443
marriage of, 344–46, 353
Sen and, 454–55
Soviet Union and, 351, 426–36
as trophy intellectual, 429
Rockefeller, John D., 182
Rolodex, 302
Roosevelt, Franklin Delano, 319, 323–26, 409
Brain Trust of, 323–26
Bretton Woods conference, 390–98
death of, 402
Depression-era policy, 324–27, 331, 332, 400
fireside chats, 360, 383
gold standard abandoned by, 325–26
Hayek and, 400
Keynes and, 325, 326–27, 362
Lend-Lease policy, 359–62
“Message to Congress on the Concentration of Economic Power,” 400
1932 presidential campaign, 323–35
World War II and, 359–62, 367, 383–89, 395, 398, 420
Roosevelt, Theodore, 142, 165
Rostow, W. W., 179
Roth, Joseph, The Radetzky March, 173
Rothschild, Louis, 217, 226, 227, 228
Rothschild, Nathan Mayer, 19
Rowntree, Seebohm, Poverty: A Study of Town Life, 130
Rupee, 240–41
Ruskin, John, 19, 59, 60, 62, 352
Russell, Bertrand, 128, 203, 206, 238, 275, 340, 343, 444
Principia Mathematica, 202, 417
S
Sackville-West, Vita, 237
St. John’s College, 52, 54, 56–57
Salisbury, Lord, 102, 104
Salten, Felix, 212
Samuelson, Ella Lipton, 412, 414
Samuelson, Frank, 412–14
Samuelson, Marion, 417
Samuelson, Paul, 153, 336, 385–86, 409–425, 442
on economics, 419–24
Economics: An Introductory Analysis, 421–24
Foundations of Economic Analysis, 417–19, 451
at Harvard, 415–19
San Francisco, 72, 75, 144, 184, 324, 396
1906 earthquake, 184
Sanger, Margaret, 299
Sanitation, 26, 70, 174
Santiniketan, 449, 450, 453, 460
Sassoon, Siegfried, 341
Saudi Arabia, 248
Say’s law, 329–30
Schacht, Dr. Hjalmar, 393
Schmoller, Gustav, 175
Schorske, Carl, 172
Schreier, Fritz, 279
Schumpeter, Annie Reisinger, 270, 271, 335
Schumpeter, Johanna, 171, 233, 270, 271, 274, 335
Schumpeter, Joseph Alois, 171–94, 206, 239, 253, 261, 262–74, 276, 278, 282, 293, 329, 330, 332, 334–37, 350, 356, 372–74, 392, 394, 416, 417, 418, 419, 423, 431–32, 439–40, 443, 460, 462
as Austrian finance minister, 216, 217–33
as a banker, 233–34, 267–69
Capitalism, Socialism and Democracy, 373–74, 440
The Crisis of the Tax State, 201, 221
death of his wife, 271–72, 335
on economics, 175–78, 185–94, 201, 220, 270–74, 334–37, 372–74, 386
in Egypt, 171, 179–86
at Harvard, 334–37, 374
lavish lifestyle of, 228–29, 268
The Nature and Essence of Economic Theory, 187
1920s Vienna and, 263–74
“On the Mathematical Method in Theoretical Economics,” 175
political demise, 232–34
postwar Vienna and, 207–234, 253
The Theory of Economic Development, 188–93, 308
theory of economic evolution, 177–78, 186–93, 272–73
in United States, 193–94, 274, 334–37
World War I and, 200–201, 206
World War II and, 372–74
Schutz, Alfred, 279
Schwartz, Anna, 314
Scott, Sir Walter, 68
Second Reform Act, 50, 60, 61
Sen, Amartya, 446–60
The Choice of Techniques, 454
Collective Choice and Social Welfare, 456
on economics, 454–60
illness of, 451–53
“The Impossibility of the Paretian Liberal,” 457
India: Development and Participation, 459
Nobel Prize, 460
Robinson and, 454–55
on social welfare, 454–60
at Trinity College, 453–54
Sen, Kshitimohan, 449
Shakespeare, William, 68
Shaw, George Bernard, 15, 122–23, 124–26, 128, 134, 197, 283, 299, 328
Major Barbara, 130
Mrs. Warren’s Profession, 125
Widowers’ Houses, 124–25
Sheppard, J. T., 241
Sherman Antitrust Act, 144
Shigeto, Tsuru, 416
Sidgwick, Henry, 56–57, 59, 62, 63, 66, 69
Silver standard, 157, 159, 162
Skidelsky, Robert, 242, 257, 283, 294, 306, 310, 330, 356, 395
Slavery, 33, 60, 98
abolition of, 59
Smith, Adam, xiii, 14, 32, 37, 57, 63, 73, 84, 90, 116, 166, 421
The Wealth of Nations, xiii, 32
Smith, James A., 126
Smoot-Hawley tariff, 322, 324
Smuts, Jan, 252, 253, 255
Social Darwinism, 149, 151
Socialism, 27, 28, 32, 34, 37, 57, 62, 65, 81, 89, 120, 165, 201, 213–16, 276, 332, 428, 438
Fabian, 120–24, 275
of Marx and Engels, 11–18, 22–28, 34–47
utopian, 122–23
Social Security, 384
Social Security Act (1935), 331
Social work, 100–101
Sociology, 150–51
Solow, Robert, 442–43, 460, 462
Somary, Felix, 233
Soviet Union, 206, 208, 236, 287, 426–36
agriculture, 288
Cold War, 389, 396, 402, 428, 444
Communism, 206, 214, 222–24, 276, 338, 351, 429–31, 439–40
famine, 339, 340
industry, 288
Keynes in, 287–89
1990 collapse of, 462
post–World War II, 402, 426–36, 460
Robinson and, 351, 426–36
society, 288, 289, 426–27, 429
spies, 351, 396, 397–98, 444
-U.S. relations, 400–402, 428
Webb and, 338–40
World War II, 359, 362, 373, 375, 387–88, 389, 394–96, 401, 403, 440
Spanish-American War, 150
Spanish Civil War, 431
Sparticists, 215, 222
Spears, Edward Louis, 238
Spectator, 356
Spencer, Herbert, 41, 95–99, 100–107, 112–13, 119, 124, 134, 148, 150, 167, 378
The Man Versus the State, 106–107, 112
Principles of Sociology, 150
Social Statics, 106
Synthetic Philosophy, 57
Sprott, Sebastian, 286
Sraffa, Piero, 332, 346–48, 350, 351, 430
, 436
Production of Commodities by Means of Commodities, 442
Stalin, Joseph, 339, 340, 387, 389, 391, 394, 398, 402, 403, 427–36
purges, 434
Standard of living, 62, 132, 141, 169, 189, 258, 271, 336, 383, 423, 439, 462
debate, 62, 86–90
modern welfare state and, 131–38
post–World War I, 257
productivity as engine to raise, 84–85
Soviet, 288, 289
Standard Oil, 141, 182
Stead, William, 139–40
The Americanization of the World, 139
Stedman Jones, Gareth, 29, 30, 43
Steed, Henry Wickham, 257–58, 260–61
Steel, 141, 143–44, 174, 293, 411–12, 413
Stein, Herbert, 329, 366, 371, 417, 424
Stephen, Leslie, 56, 60
Stephens, H. Morse, 139
Stigler, George, 445
Stocks, 267–68, 423
diversified portfolio, 304
Fisher on, 304–305
Great Depression, 307–308, 319–21, 331
indices, 302–304, 312
of 1920s, 268, 304–308
1924 Vienna stock market crash, 268–69
1929 stock market crash, 280, 306–308, 312–13, 346
World War II and, 361
Strachey, John, The Theory and Practice of Socialism, 351
Strachey, Lytton, 240, 241, 243, 260
Eminent Victorians, 260
Straight, Michael, 436
Streissler, Erich, 173
Strikes, labor, 3, 13, 60, 119, 150, 156
dockworkers, 119
1894 Pullman, 156
farmworkers’, 69–72
1926 coal, 289–90, 344
postwar Berlin, 215
Strong, Benjamin, 322
Suez Canal, 95, 180, 181
Suffrage, 3, 28, 33, 50, 57, 59
labor vote, 59
Reform Act of 1867, 57–58
universal male, 101, 108
women’s, 98, 119
Sugar, 20, 156, 174, 181, 189, 210
Sumner, William Graham, 149, 152, 165
The Absurd Effort to Make the World Over, 158
Supply and demand, 31, 32, 33, 60, 71, 152, 161, 169, 178, 329–30
Sweatshops, 30–31, 116–18
T
Tagore, Rabindranath, 449
Tappan, Marjorie, 343–44
Tawney, R. H., 128
Taxes, 6, 33, 57, 61, 83, 86–89, 106, 122, 169, 170, 192, 201, 236, 300, 358, 367, 422
collection, 370–71
consumption, 369
cuts, 330, 366
food, 9, 33
Friedman on, 367–71
Great Depression and, 311, 316, 318–19, 331
income, 369–71
land, 86–89, 108
payroll, 331, 384
post–World War I, 221–22, 236, 244
property, 221, 222
sales, 222, 369
sin, 221
withholding, 370
World War II, 368–71, 384
Taylor, A. J. P., 260
Taylor, Frederick Winslow, 296
Taylor, Harriet, 32, 408
Taylor, Sedley, 71
Technology, 142, 173, 191, 293, 443