Cliometrics as Economics Imperialism: Across the Watershed

Book excerpt: In Cliometrics as Economics Imperialism, Ben Fine traces the cliometric revolution, from before its emergence through three phases of the new, the newer and the newest economic history. These phases are shown to correspond to those of “economics imperialism”, the colonisation of topics and fields by mainstream economics, moving successively through as if there were perfectly working markets, as if imperfectly working markets, and these combined plus arbitrary inclusion of other variables. The text draws upon case studies, for example of the putative eighteenth-century consumer revolution, Douglass North, path dependence, and the British coal industry, and through exposing the reduction of economic theory and economic history deployed within them and giving rise to a corresponding reduction in the presence of the social, the historical and political economy.