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Michael Schneider
This article disproves the common contention that Thomas Carlyle dubbed economics ‘the dismal science’ in response to the Malthusian theory of population. It demonstrates that Carlyle was instead reacting to what he saw as the constraining effects on human behaviour of the endorsement of the market system by contemporary economists, known at the time as practitioners of political economy. It shows that it was Kenneth Boulding who was mainly responsible for the association of the phrase ‘the dismal science’ with the Malthusian theory of population. Looking at each of the historians of economic thought cited by Dixon (2006) as supporting the association of the phrase ‘the dismal science’ with both the Malthusian theory of population and Carlyle, it finds that none provides any evidence for the view that such an association exists. It concludes with speculation as to what Carlyle would have thought of neoclassical economics.
