I have read several books now on the history of economic thought and, for the most part, women are conspicuously absent from those books. One obvious exception is Edith Kuiper's A Herstory of Economics (which I reviewed here), and there are a few bits in Steven Medema's The Economics Book (which I reviewed here). The latter brought both Harriet Martineau and Jane Marcet to my attention (and my two class AI tutors, Harriet in ECONS101, and Jane in ECONS102, are named after them).
A surprising omission from both books was brought to my attention by this New York Times article (ungated version here) by Jeanna Smialik: Maria Edgeworth. [*] According to Wikipedia, Maria Edgeworth was a novelist and an aunt of the much more famous 19th Century economist, Francis Ysidro Edgeworth. However, Smialek makes a strong case for the importance of Maria Edgeworth as one of the earliest voices in the developing field of economics, with her economics expressed within her fiction. However, Smialek also spends some efforts to explain why Edgeworth has been largely forgotten as an economist:
As the field professionalized, the second- and third-generation economists distanced themselves from the women and the fiction that had once helped to popularize and explain their ideas. Serious science, after all, could not possibly be for everyone. The economist Alfred Marshall referred to the women who tried to simplify economic doctrine as “parasites” in a footnote to his hugely influential textbook, “Principles of Economics,” first published in 1890 and popular throughout the 1900s...
Her literature was lost partly because of its clunkiness — its economics lessons made it harder to digest as lighter and more naturalistic stories became the style.
Her economics was lost for a different reason. Subsequent influential academics disparaged the ways that the early women of economics had presented the field. They bristled at being simplified, and they dismissed the idea that the women could have contributed something meaningful.
Smialek also notes that Edgeworth provided editorial comments on Jane Marcet's Conversations on Political Economy, arguably the first economics textbook:
Edgeworth was as skilled an editor as she was a writer. She told Marcet that Adam Smith ought to be abridged, because he “needs it much,” whereas the utilitarian philosopher Jeremy Bentham was “absolutely impossible” to put in fewer words, because what he needed was “to be diluted.”
“The more amusing anecdote & illustration you can mix with your solid information the better,” Edgeworth wrote to Marcet. “It should be your object rather to sow seeds than to exhibit full grown plants — Your work should excite curiosity to go further.”
Clearly, there is more for us to learn about the history of economic thought from Maria Edgeworth's life and her writing. And we are in luck! Smialek has a forthcoming book about Edgeworth due to be released next month, titled The Invisible Hand of Maria Edgeworth. I'm definitely looking forward to that one, and you can expect a review of it here in due course (although, with my backlog of reading, that might not be until sometime next year!).
*****
[*] Smialek notes that Maria Edgeworth was brought to her attention by Robert Heilbroner's The Worldly Philosophers (which I reviewed here). Heilbroner's reference to Edgeworth clearly didn't make as great an impression on me, as I don't remember it!
