A History of the Theories of Production and Distribution in English Political Economy from 1776 to 1848

by Edwin Cannan

This Elibron Classics book is a facsimile reprint of a 1903 edition by P. S. King & Son, London.

450 pages, Paperback

First published January 1, 1898

About the author

Edwin Cannan, the son of artist Jane 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 protégé, 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"