The Practical Economics of Walter Bagehot

Bibliographic Data

ID5849876
AuthorsGregory C G Moore (corresponding author)
Year1996
Volume18
Issue2
Pages229-249
Publication date1996-01-01
Peer ReviewedYes
Open AccessYes
TypeARTICLE
VenueJournal of the History of Economic Thought (JOURNAL)
Journal identifiersISSN: 1053-8372 • E-ISSN: 1469-9656
PublisherCambridge University Press (CUP) (PUBLISHER)
DOI10.1017/s1053837200003254
OpenAlexW2076928688
LanguageEN
Citations received2
References cited17

Walter Bagehot is an excellent example of the mid-Victorian polymath. He was a banker, journalist, editor, biographer, literary critic, economist and political analyst. The educated reader of today remembers him as the author of The English Constitution , which, though published in 1867, remains one of the best introductions to the workings of the Westminster political system. Economists, on the other hand, vaguely recall him as the monetary commentator who wrote Lombard Street (1873b) and edited The Economist (1861-1877). Only a few historians of economic thought cite Bagehot for his participation in the English Methodenstreit . He played a significant role in this largely forgotten Victorian debate between the historical and orthodox economists. He was one of the first orthodox economists to respond to the historicist challenge, and, in doing so, he articulated a highly controversial relativist interpretation of the orthodox doctrines. Specifically, in response to the historicist claims that recent evidence gathered from custom-bound societies falsified the orthodox

Historicism · Economic Theory and Institutions · Economic Theory and Policy · Political Economy and Marxism

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