Editing J. A. Hobson (section)

==Life==
===Early life===
Hobson was born in [[Derby]] in [[Derbyshire]],<ref>John A. Hobson: Critical assessment of leading Economists. Edited by Robert D. and John C. Wood. 2003 Taylor and Francis. {{ISBN|0-415-31066-0}} p. 137</ref> the son of William Hobson, "a rather prosperous newspaper proprietor",<ref>Hobson, Lenin and anti-Imperialism, presented by [[Tristram Hunt]], BBC Radio 3, 6 March 2011</ref> and Josephine Atkinson. He was the brother of the mathematician [[E. W. Hobson|Ernest William Hobson]].

===Early career===
When Hobson relocated to London in 1887, England was in the midst of a major economic depression. While classical economics was at a loss to explain the vicious business cycles, London had many societies that proposed alternatives. While living in London, Hobson was exposed to the [[Social democracy|Social Democrats]] and [[Henry Hyndman|H.M. Hyndman]], [[Christian Socialists]], and [[Henry George]]'s [[Georgism|Single-tax]] system. He befriended several of the prominent [[Fabians]] who would found the [[London School of Economics]], some of whom he had known at [[Oxford]].<ref name="coats">{{cite book |last1=Coats |first1=Alfred William |author-link1=A.W. (Bob) Coats |title=The sociology and professionalization of economics |chapter-url=https://books.google.com/books?id=scZzGUjvLxIC&q=%22j+a+hobson%22+%22london+school+of+economics%22&pg=PA195 |access-date=5 October 2010 |volume=2 |year=1993 |orig-year=1967 |publisher=[[Routledge]] |page=195 |chapter=Alfred Marshall and the Early Development of the London School of Economics|isbn=9780203982648 }}</ref> However, none of these groups proved persuasive enough for Hobson; rather it was his collaboration with a friend, the businessman and mountain climber [[Albert F. Mummery]], that would produce Hobson's contribution to economics: [[Underconsumption|the theory of underconsumption]]. First described by Mummery and Hobson in the book ''Physiology of Industry'' (1889), underconsumption was a scathing criticism of [[Say's law]] and [[classical economics]]' emphasis on [[frugality|thrift]]. The forwardness of the book's conclusions discredited Hobson among the professional economics community. Ultimately he was excluded from the academic community.

During the very late 19th century, his works included ''Problems of Poverty'' (1891), ''Evolution of Modern Capitalism ''(1894), ''Problem of the Unemployed'' (1896) and ''John Ruskin: Social Reformer'' (1898). They developed Hobson's critique of the [[economic rent|classical theory of rent]] and his proposed generalization anticipated the Neoclassical "[[marginal productivity]]" theory of [[Income distribution|distribution]].<ref>The Latin Library. (n.d.). Notes on Hobson’s Imperialism. Retrieved December 28, 2024, from https://www.thelatinlibrary.com/imperialism/notes/hobson.html</ref>

===Boer War and imperialism===
Soon after this period Hobson was recruited by the editor of the newspaper ''The Manchester Guardian'' to be their South African correspondent. During his coverage of the Second Boer War, Hobson began to form the idea that [[imperialism]] was the direct result of the expanding forces of modern [[capitalism]]. He believed the mine owners, led by [[Cecil Rhodes]], wanted control of the [[South African Republic|Transvaal]]. Accordingly, he believed they manipulated the British into fighting the Boers so that they could maximize their profits from mining.<ref>Hobson, Lenin and anti-Imperialism, Radio 3, 6 March 2011</ref> His return to England was marked by his strong condemnation of the conflict.

His publications during the next few years demonstrated an exploration of the associations between imperialism and international conflict. These works included ''War in South Africa'' (1900) and ''Psychology of Jingoism'' (1901). In what is arguably his magnum opus, ''[[Imperialism (Hobson)|Imperialism]]'' (1902), he espoused the opinion that imperial expansion is driven by a search for new markets and investment opportunities overseas. ''Imperialism'' gained Hobson an international reputation, and influenced such notable thinkers as [[Vladimir Lenin]] and [[Leon Trotsky]], and [[Hannah Arendt]]'s ''[[The Origins of Totalitarianism]]'' (1951).<ref>Imperial & Global Forum. (2015, January 12). Why should we still study J. A. Hobson’s *Imperialism*? Retrieved December 28, 2024, from https://imperialglobalexeter.com/2015/01/12/why-should-we-still-study-j-a-hobsons-imperialism/</ref>

In a 1902 ''Political Science Quarterly'' article, Hobson challenged numerous moral justifications for imperialism, including the notion that "less efficient" races benefitted from subordination to "more efficient" races.<ref>{{Cite journal|last=Hobson|first=J. A.|date=1902|title=The Scientific Basis of Imperialism|url=https://www.jstor.org/stable/2140538|journal=Political Science Quarterly|volume=17|issue=3|pages=460–489|doi=10.2307/2140538|jstor=2140538 |issn=0032-3195}}</ref>

Hobson wrote for several other journals before writing his next major work, ''The Industrial System'' (1909). In this tract he argued that maldistribution of income resulted, through oversaving and [[underconsumption]], in unemployment and that the remedy was in eradicating the "surplus" by the [[redistribution of income]] by taxation and the nationalization of monopolies.

===First World War and later career===
Hobson's opposition to the [[World War I|First World War]] caused him to join the [[Union of Democratic Control]]. His advocacy for the formation of a world political body to prevent wars can be found in his piece ''Towards International Government'' (1914). However, he became staunchly opposed to the [[League of Nations]].

In 1919, Hobson joined the [[Independent Labour Party]]. This was soon followed by writings for socialist publications such as the ''New Leader'', the ''Socialist Review'' and the ''[[New Statesman]]''. During this period it became clear that Hobson favoured capitalist reformation over communist revolution. He was critical of the [[Labour Government 1929–1931|Labour Government elected in 1929]].

Hobson's autobiography ''Confessions of an Economic Heretic'' was published in 1938.