Edwin Cannan
Encyclopedia
Edwin Cannan was a British economist and historian of economic thought. He was a professor at the London School of Economics
from 1895 to 1926.
As a partisan of Jevonianism
, Edwin Cannan is perhaps best known for his logical dissection and destruction of Classical theory
in his famous 1898 tract History of the Theories of Production and Distribution. Although Cannan had personal and professional difficulties with Alfred Marshall
, he was still "Marshall's man" at the LSE from 1895 to 1926. During that time, particularly during his long stretch as chairman after 1907, Edwin Cannan shepherded the LSE away from its roots in Fabian socialism into tentative Marshallianism. This period was only to last, however, until his protege, Lionel Robbins
, took over with his more "Continental" ideas.
Though Cannan, in his early years as an economist, was a critic of classical economics and an ally of interventionists, he moved sharply to the side of classical liberalism
in the early 20th century. He favored a simplicity, clarity, and common sense in the exposition of economics. According to Geoffrey M. Hodgson, Cannan "emphasised the institutional foundation of economic systems".
London School of Economics
The London School of Economics and Political Science is a public research university specialised in the social sciences located in London, United Kingdom, and a constituent college of the federal University of London...
from 1895 to 1926.
As a partisan of Jevonianism
William Stanley Jevons
William Stanley Jevons was a British economist and logician.Irving Fisher described his book The Theory of Political Economy as beginning the mathematical method in economics. It made the case that economics as a science concerned with quantities is necessarily mathematical...
, Edwin Cannan is perhaps best known for his logical dissection and destruction of Classical theory
Classical economics
Classical economics is widely regarded as the first modern school of economic thought. Its major developers include Adam Smith, Jean-Baptiste Say, David Ricardo, Thomas Malthus and John Stuart Mill....
in his famous 1898 tract History of the Theories of Production and Distribution. Although Cannan had personal and professional difficulties with Alfred Marshall
Alfred Marshall
Alfred Marshall was an Englishman and one of the most influential economists of his time. His book, Principles of Economics , was the dominant economic textbook in England for many years...
, he was still "Marshall's man" at the LSE from 1895 to 1926. During that time, particularly during his long stretch as chairman after 1907, Edwin Cannan shepherded the LSE away from its roots in Fabian socialism into tentative Marshallianism. This period was only to last, however, until his protege, Lionel Robbins
Lionel Robbins
Lionel Charles Robbins, Baron Robbins, FBA was a British economist and head of the economics department at the London School of Economics...
, took over with his more "Continental" ideas.
Though Cannan, in his early years as an economist, was a critic of classical economics and an ally of interventionists, he moved sharply to the side of classical liberalism
Classical liberalism
Classical liberalism is the philosophy committed to the ideal of limited government, constitutionalism, rule of law, due process, and liberty of individuals including freedom of religion, speech, press, assembly, and free markets....
in the early 20th century. He favored a simplicity, clarity, and common sense in the exposition of economics. According to Geoffrey M. Hodgson, Cannan "emphasised the institutional foundation of economic systems".
Major works
- Elementary Political Economy, 1888.
- The Origin of the Law of Diminishing Returns, 1813-15, 1892, EJ.
- Ricardo in Parliament, 1894, EJ.
- A History of the Theories of Production and Distribution in English Political Economy from 1776 to 1848, 1898.
- Preface and Introduction to Adam Smith's "Wealth of Nations", 1904.
- The Economic Outlook, 1912.
- Wealth,http://mises.org/books/wealth_cannan.pdf 1914.
- Early History of the term "Capital", 1921, QJE.
- An Application of the Theoretical Apparatus of Supply and Demand to Units of Currency, 1921, EJ.
- Money: Its connexion with rising and falling prices,http://mises.org/books/money_cannan.pdf 1923.
- Monetary Reform, with J.M. Keynes, Addis and Milner, 1924, EJ
- An Economist's Protest, 1927
- A Review of Economic Theory, 1929
- Modern Currency and the Regulation of Its Value, London: D.S. King and Son, 1932.
- Collected Works of Edwin Cannan (1998, 8 volumes), edited by Alan Ebenstein (London & New York: Routledge/Thoemmes Press)
External links
- Edwin Cannan at cepa.newschool.edu
- Cannan index at socserv2.socsci.mcmaster.ca
- Catalogue of Edwin Cannan papers at London School of Economics (LSE) Archives
- Edwin Cannan's Library at LSE Archives