Review of the History of Economic Thought (First Issue)

Author: Gu Hailiang, Yan Pengfei, Editors
Publisher:
Publish Date: 2006-09-06
Features: Editing and publishing a work dedicated to the study of the history of economic thought has been a long-standing aspiration among academic colleagues. The official publication of Journal of the History of Economic Thought can be seen as a step toward fulfilling this aspiration. The history of economic thought has always been an important component of economic science. In his renowned A History of Economic Analysis, Joseph Schumpeter begins by informing readers of a "commonplace truth": "The distinction between the 'scientific' economist and other people who think about, discuss, and write on economic topics lies in their mastery of techniques or methods, which can be divided into three categories: history, statistics, and 'theory.' Together, these three constitute what we call 'economic analysis.'" The 'history' mentioned here naturally includes economic history and the history of economic thought. Schumpeter argues: "The content of economics is essentially a unique process within the long course of history. If a person does not master historical facts or possess the appropriate historical sense or what is called historical experience, they cannot hope to understand economic phenomena of any era (including the present)." A lack of research into the history of economic thought makes it difficult to understand the theoretical and practical significance of economics. It can be said that in the relationship among the history, theory, and reality of economics, the study of the history of economic thought holds a particularly important significance. The fundamental and also essential purpose of editing and publishing Journal of the History of Economic Thought lies in emphasizing the need to further strengthen the study of the history of economic thought when promoting and developing economics. We can confidently assert: The history of economic thought is not only a relatively independent discipline with a definite object of study and research methods; it is also a prerequisite for the development and innovation of economic theory, practically constituting an important component of economic theoretical research; it is also a crucial foundation for constructing and perfecting the scientific system and methods of economics, being an indispensable part of the broader field of economic science.