Economics · A History of Economic Thought by V Lokanathan
Chapter 32 : MAURICE DOBB (1900-1976)
Table of contents19 sections
- 1.MAURICE DOBB (1900-1976)
- 2.Introduction
- 3.Key Terms
- 4.📌 Exam Tidbits
- 5.His Works
- 6.Key Terms
- 7.📌 Exam Tidbits
- 8.Economic Thought
- 9.Critique of Neoclassical and Market Socialist Models
- 10.Three Major Advantages of Planned Economies
- 11.Theories of Crisis and Monopoly Capital
- 12.Soviet Economic Development and Economic History
- 13.Defence of Classical and Marxian Political Economy
- 14.Key Terms
- 15.📌 Exam Tidbits
- 16.Conclusion
- 17.Key Terms
- 18.📌 Exam Tidbits
- 19.Quick-Recall Box
Chapter preview
MAURICE DOBB (1900-1976)
Introduction
- Maurice Dobb was a pre-eminent British Marxian economist of the 20th century based at Cambridge University.
- Early Life & Education:
- Born on July 24, 1900 in London.
- Early education at Charterhouse school in Surrey.
- Studied economics at Pembroke College, Cambridge, gaining firsts in both parts of the economics tripos in 1921 and 1922.
- Completed graduate studies at the London School of Economics (LSE), earning his Ph.D. in 1924.
- Academic Career & Politics:
- Returned to Cambridge as a university lecturer, securing the job with the assistance of J.M. Keynes.
- Joined the Communist Party in 1920 and played a key role in strengthening the communist movement at the university. He was politically active and open about his strong belief in communism to his students.
- Elected as a Fellow of Trinity College, Cambridge in 1948.
- Core Focus: Dobb focused on the vulnerability of the capitalist system to economic crisis (e.g., business cycles with alternating periods of depression and prosperity).
- Example provided: He cited the United States of America as an example of capitalist money allocation:
| Capitalist Money Allocation (USA Example) | Target |
|---|---|
| Assisted | Military agendas |
| Instead of | Public works |
- Major Collaboration: Jointly with Piero Sraffa, Dobb assembled the selected works and letters of David Ricardo, publishing them in eleven volumes.
Key Terms
| Concept | Definition |
|---|---|
| Depression | A period marked by unemployment and bad trade (occurring within business cycles alongside alternating periods of prosperity). |
📌 Exam Tidbits
- J.M. Keynes assisted Dobb in securing his university lecturer position at Cambridge.
- Piero Sraffa & Maurice Dobb jointly assembled and published David Ricardo's works and letters in 11 volumes.
- Dobb joined the Communist Party in 1920 and earned his Ph.D. in 1924.
- USA Example: Dobb specifically used the USA to illustrate capitalist funds being diverted to military agendas rather than public works.
His Works
- Dobb was a prolific writer, publishing twelve academic books, more than twenty-four pamphlets, and a large number of articles for the general public.
- Core Themes: He frequently wrote on political economy, describing the connection between the social context and problems…
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