UNE Business School Seminar

The UNEBS R&RT Committee cordially invites you to the Seminar of Mr Mathew Frith (UNE Business School)

The session will be held in W39 LT5 EBL Building or  Zoom: (P/word: 670895).

Light food will be offered.

Abstract

Van Buren Denslow (1833-1902) was one of the leading figures of the American Protectionist School during the late 19th century. Despite this, Denslow remains virtually forgotten in the history of economic thought. This article examines one of Denslow's key contributions to economic thought, namely his migratory theory of profits. Through an examination of Denslow’s major writings, particularly his 1888 Principles of the Economic Philosophy of Society, Government, and Industry, this article demonstrates that Denslow developed a distinct and innovative theory of entrepreneurial profit. Not only does Denslow’s theory reflect the American Protectionist’s emphasis on economic diversification, it also challenges the Classical and Marxist assumption that there exists a general tendency for the rate of profit to fall within capitalist economies. Denslow’s view that profit acts as an endogenous and migratory force which steers resources into new industrial pursuits offers important insights into the dynamics of innovation and the trajectory of capitalist economic development.

Mathew Frith is a Lecturer at the UNE Business School. He received his PhD in economics from Federation University Australia in 2024. His dissertation concerned the 19th century American protectionist school of economic thought and was awarded the 2024 Best PhD Dissertation Prize from the History of Economic Thought Society of Australia (HETSA). He is currently transforming his dissertation into a book.