History of Economic Analysis part 52. At the time of his death in 1950, Joseph Schumpeter-one of the major figures in economics during the first half of the 20th century-was working on his monumental History of Economic Analysis. A complete history of humankind's theoretical efforts to understand economic phenomena from ancient Greece to the present, this book is an important contribution to the history of ideas as well as to economics. | History of economic analysis 472 But then he tried to show by a numerical example how the competitive struggle leads to deadlock and what his figures actually show is exactly the contrary they display the mechanism by which the hitch will in general be avoided. In the chair at the Collège de France 14 Say was succeeded by the Italian Rossi Rossi by Chevalier 15 whose tenure extended to 1879 and Chevalier in turn by his son-in-law Paul Leroy-Beaulieu whose career covers practically the whole of the next period. This academic succession should be noticed because it was also a succession in spirit and doctrine. In the high heavens Say s true successor was indeed the great Walras. But on a less exalted level and as to applied economics attitudes in economic policy systematic arrangement and also as to the lower ranges of economic theory these men Rossi less than the other two may be considered as followers of Say and as the core of a school which if we date it from 1803 the year of the publication of Say s Traité boasts of a history of about a century. We shall consider it in the next Part. For the present besides noting that interesting fact itself we confine ourselves to the following comments. First so far as nonsocialist economics is concerned this group was not to meet significant opposition until the next period. During the period under discussion and a little beyond it ruled supreme controlling in particular the professional journals and institutions and also the Société d Économie Politique which was founded like the Journal des économistes in 1842. Second the school and all its members were partly as has been mentioned before owing to the presence until 1848 of a strong socialist menace to bourgeois society strongly liberal in the laissez-faire sense and This naturally accounts for the hostility of modern critics that also reflects upon Say himself but it should be unnecessary to point out that their derogatory judgments are unhistorical. .
