Political Arithmetic

Simon Kuznets and the Empirical Tradition in Economics

Robert William Fogel, Enid M. Fogel, Mark Guglielmo , Nathaniel Grotte

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English

Chicago University Press
15 April 2013

Economics & Business; Economic history

Series: National Bureau of Economic Research Series on Long-Term Factors in Economi

We take for granted today that the assessments, measurements, and forecasts of economists are crucial to the decision-making of governments and businesses alike. But less than a century ago that wasn’t the case—economists simply didn’t have the necessary information or statistical tools to understand the ever more complicated modern economy.

With Political Arithmetic, Nobel Prize–winning economist Robert Fogel and his collaborators tell the story of economist Simon Kuznets, the founding of the National Bureau of Economic Research, and the creation of the concept of GNP, which for the first time enabled us to measure the performance of entire economies. The book weaves together the many strands of political and economic thought and historical pressures that together created the demand for more detailed economic thinking—Progressive-era hopes for activist government, the production demands of World War I, Herbert Hoover’s interest in business cycles as President Harding’s commerce secretary, and the catastrophic economic failures of the Great Depression—and shows how, through trial and error, measurement and analysis, economists such as Kuznets rose to the occasion and in the process built a discipline whose knowledge could be put to practical use in everyday decision-making.

The product of a lifetime of studying the workings of economies and skillfully employing the tools of economics, Political Arithmetic is simultaneously a history of a key period of economic thought and a testament to the power of applied ideas.

By: Robert William Fogel, Enid M. Fogel, Mark Guglielmo, Nathaniel Grotte
Imprint: Chicago University Press
Country of Publication: United States
Dimensions: Height: 23mm, Width: 16mm, Spine: 2mm
Weight: 397g
ISBN: 9780226256610
ISBN 10: 0226256618
Series: National Bureau of Economic Research Series on Long-Term Factors in Economi
Pages: 160
Publication Date: 15 April 2013
Audience: College/higher education , Further / Higher Education
Format: Hardback
Publisher's Status: Active

PrefaceIntroduction: The Amazing Twentieth Century1 The Rise of Academic Economists Before World War I2 The Early History of the NBER3 The Emergence of National Income Accounting as a Tool of Economic Policy4 The Use of National Income Accounting to Study Comparative Economic Growth5 The Scientific Methods of Simon Kuznets6 Further Aspects of the Legacy of Simon Kuznets7 The Quarter Century since the Death of Simon KuznetsAcknowledgmentsBibliographyIndex

Winner of the 1993 Nobel Prize in Economics, Robert William Fogel is the Charles R. Walgreen Distinguished Service Professor of American Institutions in the Booth School of Business, director of the Center for Population Economics, and a member of the Department of Economics and of the Committee on Social Thought at the University of Chicago. Enid M. Fogel (1923-2007) was associate dean of students at the Booth School of Business. Mark Guglielmo is assistant professor of economics at Bentley University in Waltham, Massachusetts. Nathaniel Grotte is associate director of the Center for Population Economics.

Reviews for Political Arithmetic: Simon Kuznets and the Empirical Tradition in Economics

It all adds up! Political Arithmetic captures a great intellectual pioneer at work and shows how he helped make modern economics a tool for transforming not only mankind's environment but mankind itself. (Sylvia Nasar, author of Grand Pursuit: The Story of Economic Genius and A Beautiful Mind)