Joseph Lowe (economist)

Joseph Lowe (died 1831) was a Scottish journalist and political economist. He is now known for his pioneer treatment of indexation, and Maurice Kendall called him the generally recognised "father of index numbers".

In the debate on the Corn Laws in 1839, Sir Robert Peel cited the views of Lowe and Thomas Tooke, to argue against imposing a low fixed rate of import duty on corn.

From Brechin, Lowe attended the University of St Andrews and University of Edinburgh. He then went into business, spending time in the Netherlands from 1792, and then London.

Lowe spent a period at Caen in France, from June 1814. From September 1815 he was tutor there to Edward Deas Thomson and his elder brother; Thomson later kept in touch and discussed technology with Lowe. He also employed Nathaniel Morren and others as writers.James Mill was a friend of Lowe from school days, and his son John Stuart Mill visited Lowe in France for some weeks in 1821.

Lowe was appointed lecturer in Commerce at King's College, London, around 1830, at the end of his life. According to Mill's biographer Alexander Bain, Lowe was partly dependent on Mill, and was unable to retain his position.

The Present State of England in Regard to Agriculture, Trade and Finance (1822) was Lowe's major work, now noted mostly for its Chapter IX, Fluctuation in the Value of Money or in the Price of Commodities, which influenced George Poulett Scrope.Otto Neurath later praised this book as an attempt at a comprehensive sketch of a war economy. Lowe's general conclusions were rather buoyant, allowing the British economy good prospects and the moderation of the culture being promising for the future. He supported free trade and opposed the views of Robert Malthus.

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