The Physiology of Industry
E786325
The Physiology of Industry is an influential late-19th-century economic treatise co-authored by J. A. Hobson that critiques classical economics and explores the causes and consequences of underconsumption and industrial overproduction.
Statements (43)
| Predicate | Object |
|---|---|
| instanceOf |
book
ⓘ
economic treatise ⓘ |
| argues |
industrial overproduction results from inadequate effective demand
ⓘ
maldistribution of income leads to insufficient demand ⓘ over-saving by the wealthy can cause economic stagnation ⓘ systematic underconsumption can occur in capitalist economies ⓘ |
| associatedWith | J. A. Hobson's early economic thought ⓘ |
| author |
A. F. Mummery
NERFINISHED
ⓘ
J. A. Hobson NERFINISHED ⓘ |
| coAuthor |
A. F. Mummery
NERFINISHED
ⓘ
J. A. Hobson NERFINISHED ⓘ |
| countryOfOrigin | United Kingdom ⓘ |
| critiques |
Say's Law
NERFINISHED
ⓘ
classical economics ⓘ |
| genre |
economics
ⓘ
political economy ⓘ |
| hasForm | monograph ⓘ |
| historicalContext |
Victorian era
NERFINISHED
ⓘ
industrial capitalism in Britain ⓘ |
| impact |
challenged orthodox classical economic assumptions
ⓘ
contributed to heterodox economic traditions ⓘ |
| influenced |
later critiques of laissez-faire economics
ⓘ
underconsumptionist theories ⓘ |
| language | English ⓘ |
| mainTopic |
critique of classical economics
ⓘ
distribution of income ⓘ economic cycles ⓘ industrial overproduction ⓘ underconsumption ⓘ unemployment ⓘ |
| positionInLiterature | early systematic statement of underconsumption theory ⓘ |
| publicationCentury | 19th century ⓘ |
| publicationPeriod | late 19th century ⓘ |
| publicationYear | 1889 ⓘ |
| relatedConcept |
effective demand
ⓘ
maldistribution of wealth ⓘ overproduction crisis ⓘ saving and investment imbalance ⓘ |
| relatedField |
development of Keynesian ideas (historical precursor)
ⓘ
macroeconomics ⓘ |
| targetAudience |
economists
ⓘ
policy makers ⓘ students of political economy ⓘ |
Referenced by (2)
Full triples — surface form annotated when it differs from this entity's canonical label.