Bernard Shaw and the making of Fabian economics

Abstract

In its origins, economic science was marked by an intense dialogue with other areas
of knowledge. As it developed, however, the so-called “scientific” model of economics
came to predominate, whose scope was characterised by a formalist methodological perspective,
which restricted the audience for discussion in economics. To reach the majority of the
population, economics had to adapt its methodological format, giving up its analytical refinement.
The “popular” model of economics thus emerged. The aim of this article is to analyse a
point of intersection between these two models in the economic formulations of the first generation
of the Fabian Society, in particular, the contributions of George Bernard Shaw. Known
mainly for his literary texts, Shaw also wrote the articles on economics in the influential book
Fabian Essays in Socialism. The article is divided into three sections: an introduction; an exposition of Bernard Shaw’s formulations on economics in the Essays and a conclusion. The
main conclusion of the paper is that, in seeking an intersection between the scientific and popular
models of economics, Shaw ended up developing an eclectic formulation of economics,
sometimes juxtaposing elements of both neoclassical and Marxist economics.

JEL Classification: B13; B14.