by the Sandwichman
Starting this coming Monday, November 3, Sandwichman will be posting a 14-part serialization of "Missing: the strange dissappearance of S. J. Chapman's theory of the hours of labour" to celebrate the upcoming centenary of that penetrating but neglected contribution to neoclassical economic analysis.
Chapman's theory, published in 1909 in The Economic Journal, was acknowledged as authoritative by the leading economists of the day. It provided important insights into the prospects for market rationality with respect to work-time arrangements and hinted at a profound immanent critique of economists' excessive concern with external wealth.
Chapman's theory was consigned to obscurity by mathematical analyses that reverted heedlessly to outdated and naïve assumptions about the connection between hours and output. You can also download the full article in PDF format.