Preprint by A. Galeev

The work "Methodology of Classical Political Economy: Interpretation from 19th Century Russia" was published as a preprint of the Fundamental Research Program in the "Economics" series.

Abstract:

The paper discusses Yuli Zhukovsky’s 1864 article “Smithian Direction and Positivism in Economics”, one of the first research in methodology of political economy in Russia. Zhukovsky contrasts the abstract theorising of classical economists like Adam Smith and David Ricardo with the empiricism of his contemporaries like Henry Macleod. Zhukovsky advocates for a deductive, universal approach in economic theory, emphasising the importance of abstract models to explain economic phenomena. His interpretation of Smith aligns with modern views on classical political economy, focusing on the formation of theoretical systems from empirical facts.

 

The full text of the work is available on the preprint series website.