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Toward this end, Samuelson applied welfare economics to international trade theory, thereby modifying David Ricardo's (1817) comparative advantage, formulated for the limited purpose of Marginalism, a utility theory of value, attempted to prove that labor, contrary to the account of the labor theory of value (LTV), gets its proportionate share of income distribution from the national product.
It differed from naturalism, utilitarianism and historicism in that it compared units of want and feeling instead of things.
Gail and Hans also made constructive remarks, and raised relevant questions, that Norman Waitzman and Dalmas Nelson accepted to join the embattled committee at two critical junctures, each literally saving the dissertation, and with it the degree, from oblivion.
Further, Dalmas close reading of the work, and his several discussions with me, each extending for many hours, were most helpful: They qualified some of my wordings; saved me from many linguistic traps and errors; and impelled me to provide more clarifications, and stylistic modifications.
And Norms open praise of the dissertation, during my defense, disarmed the lingering resistance. However, bringing this unduly protracted episode to a close, in my judgment, could not have come from within the economics and political science departments only.
I therefore gratefully thank any anonymous university member who might have intervened to bring about that end. I like, however, to recognize Dan Lee, Sadaf Rahimi, Randy Silverman, Kristeen Arnold, Juli Hinz, and Sarah Michalak. I gratefully thank Christine Pickett, the Thesis Editor, for her keen reading, and conscientious and timely editing of this work.
It inquires into, analyzes and elaborates upon socioeconomic transformation theories.
Using political economy monographs, it excavates, reconstructs, and intelligibly taxonomizes mechanisms with the potential to engender transformation.
If I have to enumerate only a few, nonetheless, I like to acknowledge Janet Abu Lughod, Eric Jones, Gunnar Myrdal, John Hobson, Samir Amin, Warren Samuels, Hans Morgenthau, Roy Bhaskar, Maurice Dobb, Karl Polanyi, Diana Hunt, Raul Prebisch, Henry Kissinger, Immanuel Wallerstein, Hans Singer, Mark Blaug, John Maynard Keynes, Adam Smith, Rondo Cameron, Joan Robinson, Andr Gunder Frank, Karl Marx, and 'Abdul-Rahman Ibn Khaldun.
It attempted to refine the objective view of the Utilitarians by a subjective one, the source of value taken to be found in people and not in materials.
This reckoning of everything, of prices and incomes, of wealth and of capital, by differentials and margins pseudo-psychologically measured, is the quintessence of Marginalism. Society, however, is not simply a sum of single individuals.
Foresight, vitality and willpower, including discipline and order, are the ingredients.
By clinging to willpower, one is to shoulder the burden of lonely decisions.