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L'école française contre Walras, économiste hétérodoxe
... 76 The francophone free banking school of the time was grouped around the Journal des Économistes (Frédéric Bastiat, Michel Chevalier, Yves Guyot and Gustave de Molinari). For Walras's positions with regards to the école française, see, e.g., Gallois (2011). 77 With regards to the question of "ideal" and "real" (Éléments, Section 30) types and the incompatibility between Walras's pure and applied economics, his monetary theory clearly bridges any gap. ...
This dissertation examines the role of monetary trust in monetary theory and policy and its implications for an empirical study on central bank communications. The first part critically examines the role monetary trust has played in economic theory in order to distinguish between two schools of thought. In the first school, monetary trust is defined as a horizontal relation between individuals, an approach to monetary trust that was developed by the neoclassical tradition and that continues to influence monetary theory and policy to this day. In the second approach, monetary trust is viewed from a vertical perspective, focusing on the institutional context and social embeddedness of trust relationships. The conclusion that monetary trust is fundamentally hierarchical drawn from this analysis, motivates the empirical study of the second part. This part analyzes whether German and French central bankers are able to efficiently manage the communicative challenge of pandering to the different demands of their three distinct target audiences—the markets, the state, and the public at large. The empirical methodology for this analysis builds on the growing literature analyzing central bank communications to better understand the political and financial implications of monetary policy. I hope to contribute to this field of research by 1) creating a new database of 21 years of speeches and interviews of the Banque de France, the Bundesbank and the ECB (1999-2019), 2) devising a new method for analyzing communications that takes into account different audiences and 3) providing empirical evidence for the observation that monetary policy is not neutral, i.e., that communications are biased in favor of some economic groups over others. The results of this analysis show that French and German central bankers communicate differently at home and at the European level, and deliver a preliminary confirmation of the hypothesis that central bank communications distinguish between audience groups according to the hypothesized hierarchical taxonomy.
Since the publication in 1973 of Dorothy Thomson’s seminal book Adam Smith’s Daughters, the literature on women’s contribution to the economic thought has grown exponentially. Despite these recent publications, the specificities of the French context and the historical contributions of female thinkers to French economic thought have been rarely studied. The aim of this paper is to analyze the contribution of Flora Tristan, Julie-Victoire Daubié and Clémence Royer to economic debates in nineteenth-century France. These three case studies offer insight into the neglect of female thinkers in the history of economic thought. In line with previous publications, we explore the border of the definition of economics by focusing on the nineteenth-century French context. We then propose some explanations for their exclusion from the field of economics.
Les récentes disputes qui ont animé la communauté des économistes français depuis les années 2010 ont progressivement polarisé la discipline. Le présent article a pour ambition d’objectiver les différents univers de croyances épistémologiques, à partir d’un questionnaire adressé aux membres de deux associations académiques. La classification statistique opérée a permis de qualifier les postures de quatre groupes d’économistes. Ces résultats permettent de discuter les caractéristiques des différents groupes (articulation théorie-empirie), ainsi que les termes identitaires de la recomposition du paysage académique : hétérogénéité de l’économie standard et rapports différenciés entre les différents groupes d’économistes.Classification JEL : A11, A14, B50, I20.
What is the purpose of economic science? Is it about discovering general laws of economic behaviour? Is it about policy-making? And how do those objectives tie in with political views and normative preferences? In 1882–1883 a debate about the existence of economic laws arose between the French Liberal School and Émile de Laveleye, who had just published his Éléments d’économie politique. The debate concerned the form and meaning of economic science and it was bound up with the political views of both sides. A third party to this debate, Léon Walras, was having great difficulty in finding institutional and political support. Although he was closer to the French Liberals in terms of method, he was more inclined to Laveleye’s views concerning the purpose of political economy and in his political outlook. Based on unpublished letters, we will trace the imbroglio between method and purpose of political economy in the triangle formed by Émile de Laveleye, Léon Walras and the “orthodox” French Liberal School.
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