Reconciling the invisible hand and innovation Eduardo Pol
... Progress in economics is cumulative and based on the great economic thinkers of past times, as well as the lesser scholars and practitioners. Previous economic knowledge accumulates and feeds into the generation of modified and new conceptual frameworks. Sometimes knowledge is made obsolete by the e ...
... Progress in economics is cumulative and based on the great economic thinkers of past times, as well as the lesser scholars and practitioners. Previous economic knowledge accumulates and feeds into the generation of modified and new conceptual frameworks. Sometimes knowledge is made obsolete by the e ...
Natural Law and Modern Economic Theory
... theories of ethics, political obligation, and jurisprudence.5 Few have therefore developed or investigated a connection between natural-law premises and economic theory.6 Further, there is an inherent ambiguity within natural law as to whether its foundations are religious.7 As such, advocates of mo ...
... theories of ethics, political obligation, and jurisprudence.5 Few have therefore developed or investigated a connection between natural-law premises and economic theory.6 Further, there is an inherent ambiguity within natural law as to whether its foundations are religious.7 As such, advocates of mo ...
The Steady-State Economy: The only path to a sustainable
... government, in order to reduce material and energy throughput. Finally a distributionist institution ought to secure social justice by introducing minimum and also maximum income limits. Obviously this is a very controversial concept and has been mostly ignored by fellow scientists or rejected as ut ...
... government, in order to reduce material and energy throughput. Finally a distributionist institution ought to secure social justice by introducing minimum and also maximum income limits. Obviously this is a very controversial concept and has been mostly ignored by fellow scientists or rejected as ut ...
The Cambridge Contribution to the Revival of Classical
... development of Cambridge economics. Thomas Robert Malthus, who was seen at some point by John Maynard Keynes (1933[1973]) as “the first of the Cambridge economists”, claimed he was recovering Adam Smith’s approach, against David Ricardo’s development of it which had, according to Malthus, led to a d ...
... development of Cambridge economics. Thomas Robert Malthus, who was seen at some point by John Maynard Keynes (1933[1973]) as “the first of the Cambridge economists”, claimed he was recovering Adam Smith’s approach, against David Ricardo’s development of it which had, according to Malthus, led to a d ...
Bioeconomy as a Complex Adaptive System of
... the EU economy. The data shown for 2012 indicate that the EU bio-based economy turnover reached about 2.4 billion euro, with almost 22 million persons employed (Table 1). As the concept of bioeconomy evolved into use not only of primary sources of biomass, such as wood or agricultural crops and resi ...
... the EU economy. The data shown for 2012 indicate that the EU bio-based economy turnover reached about 2.4 billion euro, with almost 22 million persons employed (Table 1). As the concept of bioeconomy evolved into use not only of primary sources of biomass, such as wood or agricultural crops and resi ...
Taking evolution seriously: what difference does it
... force or mechanism similar to natural selection, competitive or market selection, is working in competitive markets. This force favours firms that happen to make positive profits over those that fail to do so. As a consequence, they argued, only those firms that behave approximately as the neoclassi ...
... force or mechanism similar to natural selection, competitive or market selection, is working in competitive markets. This force favours firms that happen to make positive profits over those that fail to do so. As a consequence, they argued, only those firms that behave approximately as the neoclassi ...
Werkraum Bregenzerwald
... too much public support (in most cases politically justified) projects mainly done by communities (innovation cannot be “ordered” – the need of innovation has to emerge and recognized. This happens on a larger scale in companies …) ...
... too much public support (in most cases politically justified) projects mainly done by communities (innovation cannot be “ordered” – the need of innovation has to emerge and recognized. This happens on a larger scale in companies …) ...
The Theory of Economic Development
... relating to the fundamental conditions of development - and, although it would be wrong to claim that even now the theory of the subject is complete, there is a substantial body of generalisations which seem to have some bearing both on present problems and past experience. At any rate, it is this f ...
... relating to the fundamental conditions of development - and, although it would be wrong to claim that even now the theory of the subject is complete, there is a substantial body of generalisations which seem to have some bearing both on present problems and past experience. At any rate, it is this f ...
The Socialist Calculation Debate moving forward: What hap
... i.e., accept the prices given to them by the Central Planning Board, choose the combination of factors of production to minimize Average Cost, and produce an output where Marginal Cost equals Price. Precisely what neoclassical price theory prescribes is how markets reach equilibrium. Since there is ...
... i.e., accept the prices given to them by the Central Planning Board, choose the combination of factors of production to minimize Average Cost, and produce an output where Marginal Cost equals Price. Precisely what neoclassical price theory prescribes is how markets reach equilibrium. Since there is ...
Chapter 6 How Institutions of Liberty Promote Entrepreneurship and Growth Introduction
... understanding of how entrepreneurship and economic growth are linked. For example, most research has focused on firms just starting up although established firms are perfectly capable of exercising entrepreneurship (Foss and Klein, 2012). As a parallel development in the same time period, economists ...
... understanding of how entrepreneurship and economic growth are linked. For example, most research has focused on firms just starting up although established firms are perfectly capable of exercising entrepreneurship (Foss and Klein, 2012). As a parallel development in the same time period, economists ...
Managers and Market Capitalism
... Electronic copy available at: http://ssrn.com/abstract=2231526 ...
... Electronic copy available at: http://ssrn.com/abstract=2231526 ...
On the theory of non capitalist systems
... example, that of wages. Even if out c all the possible economic systems lacking this category we choose one in which exchange and credit (and thus the categories of price and capital) are present (for example, the system of peasant and artisan family labor units held together economically by monetar ...
... example, that of wages. Even if out c all the possible economic systems lacking this category we choose one in which exchange and credit (and thus the categories of price and capital) are present (for example, the system of peasant and artisan family labor units held together economically by monetar ...
A Survey on Modeling Economic Growth
... arises and why it grows. In contrast to the physiocrates, he points out that the labor performed by the nation is the source of wealth and not the agricultural, primary production. The efficiency of labor depends on the division of labor, and the division of labor needs functioning markets. Smith’s ...
... arises and why it grows. In contrast to the physiocrates, he points out that the labor performed by the nation is the source of wealth and not the agricultural, primary production. The efficiency of labor depends on the division of labor, and the division of labor needs functioning markets. Smith’s ...
Economic Globalization, Mercantilism and Economic
... theoretical models were developed. From 1960s to the present, some mathematical models on mercantilism have been constructed. In the framework of Keynesian economics, Samuelson (1964) put forward the …rst mathematical model of mercantilism. He argued that “with employment less than full and net nati ...
... theoretical models were developed. From 1960s to the present, some mathematical models on mercantilism have been constructed. In the framework of Keynesian economics, Samuelson (1964) put forward the …rst mathematical model of mercantilism. He argued that “with employment less than full and net nati ...
1 Hume`s specie-flow mechanism and the 16 century price
... This is an idealization, but when Adam Smith (1776), Book IV, chapter III, points out that what is relevant is not a wrong balance of trade, even if a nation imports more than it exports for half a century, and contracts increasing debts with other nations –as long as its wealth increases in greater ...
... This is an idealization, but when Adam Smith (1776), Book IV, chapter III, points out that what is relevant is not a wrong balance of trade, even if a nation imports more than it exports for half a century, and contracts increasing debts with other nations –as long as its wealth increases in greater ...
Role of Human Capital in Economic Development: An Empirical
... capital formation is excluded. Their model explains nearly 80 percent of the crosscountry variation in per capita income, which is about 30 percent larger than when human capital is excluded. For the categories of countries, (low-income, intermediate and OECD countries), investment in human capital ...
... capital formation is excluded. Their model explains nearly 80 percent of the crosscountry variation in per capita income, which is about 30 percent larger than when human capital is excluded. For the categories of countries, (low-income, intermediate and OECD countries), investment in human capital ...
Economic sociology - SAGE Publications
... world that predispose them to exchange under a certain set of social rules and not another. In this sense, the state, culture, and politics are contained in every market act; they do not variably exert their influence on some kinds of markets more than others’ (Krippner, 2001: 785). Moreover, Krippn ...
... world that predispose them to exchange under a certain set of social rules and not another. In this sense, the state, culture, and politics are contained in every market act; they do not variably exert their influence on some kinds of markets more than others’ (Krippner, 2001: 785). Moreover, Krippn ...
chapter 1
... So we will learn different models for studying different issues (e.g., unemployment, inflation, long-run growth). ...
... So we will learn different models for studying different issues (e.g., unemployment, inflation, long-run growth). ...
The Role of Seaports in the Process of Economic Growth
... attain this objective the empirical study of an econometric model called Cobb-Douglas production function is used. The results show that public investments of seaports generate positive contributions to Tunisian economic growth; first, by direct contribution via its added value; and second, by indir ...
... attain this objective the empirical study of an econometric model called Cobb-Douglas production function is used. The results show that public investments of seaports generate positive contributions to Tunisian economic growth; first, by direct contribution via its added value; and second, by indir ...
Keynes as a Conservative - Intercollegiate Studies Institute
... Consequently, Keynes’s conservatism very much reflected the attitudes of his class, which was the British upper class. Roy Harrod, his biographer, details these conservative attitudes in Keynes: He valued institutions which had historic roots in the country; he was a great upholder of the virtues of ...
... Consequently, Keynes’s conservatism very much reflected the attitudes of his class, which was the British upper class. Roy Harrod, his biographer, details these conservative attitudes in Keynes: He valued institutions which had historic roots in the country; he was a great upholder of the virtues of ...
Mankiw 6e PowerPoints
... So we will learn different models for studying different issues (e.g., unemployment, inflation, long-run growth). ...
... So we will learn different models for studying different issues (e.g., unemployment, inflation, long-run growth). ...
Mankiw 6e PowerPoints
... So we will learn different models for studying different issues (e.g., unemployment, inflation, long-run growth). ...
... So we will learn different models for studying different issues (e.g., unemployment, inflation, long-run growth). ...
LATIN AMERICAN ECONOMIC HISTORY
... model, which occurred in the interwar period, had a catalyzing effect on the development of economic history. Two main history writing traditions -often complementary- contributed to our knowledge of the economic past during what we can call the pre-history of economic history: a traditional nation ...
... model, which occurred in the interwar period, had a catalyzing effect on the development of economic history. Two main history writing traditions -often complementary- contributed to our knowledge of the economic past during what we can call the pre-history of economic history: a traditional nation ...
Perceptions of Fairness and Allocation Systems
... what he/she believes is half of the cake and the chooser on the other hand might obtain in his view more than half of it. Similar to this game, distribution justice has also been analysed in experiments. Güth et al. (1982) first introduced the ultimatum bargaining game and argue that “subjects often ...
... what he/she believes is half of the cake and the chooser on the other hand might obtain in his view more than half of it. Similar to this game, distribution justice has also been analysed in experiments. Güth et al. (1982) first introduced the ultimatum bargaining game and argue that “subjects often ...
Lecture 1
... economy’s behavior depends partly on whether prices are sticky or flexible: If prices are sticky, then demand won’t always equal supply. This helps explain • unemployment (excess supply of labor) • why firms cannot always sell all the goods ...
... economy’s behavior depends partly on whether prices are sticky or flexible: If prices are sticky, then demand won’t always equal supply. This helps explain • unemployment (excess supply of labor) • why firms cannot always sell all the goods ...