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Full Description
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.
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
