Bernard Lonergan's economic writings span forty years and contain ideas that differ radically from those of his contemporaries. His theory of macroeconomic dynamics was developed through the 1930s and 1940s, culminating in the composition of For a New Political Economy (1942) and An Essay in Circulation Analysis (1944). In Lonergan's Discovery of the Science of Economics, Michael Shute uses archival material in order to examine the influence of Lonergan's early work in methodology, social philosophy, and theology on the development of his economic theory. Shute traces the development of Lonergan's economic ideas from the late 1920s to the publication of his significant economic works in the 1940s. Together with its companion volume, Lonergan's Early Economic Research, this volume outlines the process behind one of the great intellectual discoveries of the twentieth century and uncovers Lonergan's framework for a genuine science of economics.
Michael Shute is an associate professor in the Department of Religious Studies at Memorial University of Newfoundland.
Contents Abbreviations / vii Preface / ix Introduction: Lonergan's Interest in Economics 1 Lonergan's Interest in Economics 2 Context of the Present Work 3 Hypothesis on the Sequence of Development in the Texts 1 The Initial Viewpoint 1 Methodology 2 Lonergan's Introduction to the Scientific Revolution 3 History and the Crisis in the West 4 Catholic Ethics and Economics 5 Lonergan's Early Research In Economics 6 Initial Viewpoint 2 Economics in the Context of Catholic Action: The Quest for a Practical Theory of History 1 A Theory of Catholic Action, 1933-1936 2 Towards the Integration of All Things 3 Reach and Attainment in Lonergan's Quest for a Practical Theory of History 3 Real Analysis and the Analytic Concept of History 1 The Advance to the Analytic Concept 2 Dialectic and the Differentials of History 3 The Developing Viewpoint 4 Interlude: Grace, History, and the World Order of Emergent Probability 1 Dissertation on Operative Grace in Thomas Aquinas 2 'Finality, Love, Marriage' and the World Order of Emergent Probability 3 The Developing Viewpoint 5 The Breakthrough to Economic Science: The Production Process 1 'For a New Political Economy' 2 The Economic and Cultural Problem 3 The Method of Analysis 4 The Universal Rhythms of Production 5 Two Distinct Circuits 6 Phases of the Production Process 6 The Breakthrough to Economic Science: The Structure of Exchange 1 The Function of Money and Finance 2 Introduction to Monetary Circulation 3 Fundamental Economic Variables (The Diagram) 4 Economic Expansion and The Phases of the Pure Cycle 5 The Financial Problem 6 The Trade or Business Cycle 7 The Possibility of Economic Recovery 8 The Emerging Viewpoint 7 Developments after For a New Political Economy 1 The Transition to 'An Essay in Circulation Analysis' 2 'An Essay on Circulation Analysis' 3 The Achievement 4 The Scientific Revolution in Economics 8 Further Contexts Bibliography