“It all adds up! Political Arithmetic captures a great intellectual pioneer at work and shows how he helped make modern economics a tool for transforming not only mankind’s environment but mankind itself.”
Sylvia Nasar, author of Grand Pursuit: The Story of Economic Genius and A Beautiful Mind
Simon Kuznets and the Empirical Tradition in Economics
Robert William Fogel, Enid M. Fogel, Mark Guglielmo, and Nathaniel Grotte
|Publication date: May 15, 2013 ||$32.00/£20.50 |
|International Publication Date: May 15, 2013 ||978-0-226-25661-0 |
The economic performance of a nation is crucial to its future prospects. So it’s hard to imagine a time when that sort of detailed, accurate economic data wasn’t available—when political leaders, with no tools for measuring the performance of the national economy, were essentially flying blind. Yet that was the case as recently as the early decades of the twentieth century, and in Political Arithmetic, Nobel Prize–winning economist Robert Fogel and his collaborators tell the story of how a group of innovative economists, led by Simon Kuznets, spearheaded the creation of GDP and a host of other tools for measuring and analyzing economic performance. Fogel’s account of Kuznets’s breakthrough takes in the upheavals of World War I and the Great Depression, political pressure from Progressive activists, and the coming of age of economics as a discipline, all wrapped up in a fascinating tale of invention, dedication, determination, and the power of applied ideas.
Winner of the 1993 Nobel Prize for Economics, Robert William Fogel is the Charles R. Walgreen Distinguished Service Professor of American Institutions at the Booth School of Business, director of the Center for Population Economics, and a member of the Department of Economics and of the Committee on Social Thought at the University of Chicago. Enid M. Fogel was associate dean of students at the Booth School of Business. Mark Guglielmo is assistant professor of economics at Bentley University. Nathaniel Grotte is associate director of the Center for Population Economics.