Tinbergen`s business cycle analysis
... reciprocal influence that often became apparent. Theoretical deduction and empirical induction cohabited in some harmony under the aegis of a positivist view of historical events. This tradition is rooted in the 19th century. From 1862, Clément Juglar undertook an empirical identification of busines ...
... reciprocal influence that often became apparent. Theoretical deduction and empirical induction cohabited in some harmony under the aegis of a positivist view of historical events. This tradition is rooted in the 19th century. From 1862, Clément Juglar undertook an empirical identification of busines ...
Artificial Scarcity, Power, and the Italian Mafia - Hal-SHS
... due to scarcity: they try to satisfy their personal needs and maximize their utility by expending the fewest possible resources. According to this theory, two individuals with identical budget constraints and identical preferences will make the same consumption/exchange choices and will have the sam ...
... due to scarcity: they try to satisfy their personal needs and maximize their utility by expending the fewest possible resources. According to this theory, two individuals with identical budget constraints and identical preferences will make the same consumption/exchange choices and will have the sam ...
Economics (ECON) - Northeastern University
... Presents an overview of the economics of government and the role of public policy. Develops guidelines to determine which economic activities are best performed by government and which are not. Also examines the impact of tax policies on efficiency, economic growth, and equity. Topics include market ...
... Presents an overview of the economics of government and the role of public policy. Develops guidelines to determine which economic activities are best performed by government and which are not. Also examines the impact of tax policies on efficiency, economic growth, and equity. Topics include market ...
The Entrepreneur: Real and Imagined
... of Mises as the source of the notion of a purely non-owning entrepreneur. In the later piece, Rothbard made this point with great emphasis: [T]here is an uncharacteristic lack of clarity in Mises's discussion of entrepreneurship. While Mises basically links the capitalist and the entrepreneur togeth ...
... of Mises as the source of the notion of a purely non-owning entrepreneur. In the later piece, Rothbard made this point with great emphasis: [T]here is an uncharacteristic lack of clarity in Mises's discussion of entrepreneurship. While Mises basically links the capitalist and the entrepreneur togeth ...
The Institution, the Economy and the Market: Karl Polanyi`s
... of social relations and in shared rules and beliefs, which reveal continuity and impose constraints on individuals while at the same time opening up opportunities to them. ‘Institutions,’ he writes, ‘are embodiments of human meaning and purpose . . . On the institutional level, regulation both exten ...
... of social relations and in shared rules and beliefs, which reveal continuity and impose constraints on individuals while at the same time opening up opportunities to them. ‘Institutions,’ he writes, ‘are embodiments of human meaning and purpose . . . On the institutional level, regulation both exten ...
Economy as Religion
... least. All of the concepts involved can mean several different things, and it is of great importance to clarify what is meant by each of them. The quotes I have used in the introduction all have different meanings implied, and can be interpreted for example in the following manner: First, the South ...
... least. All of the concepts involved can mean several different things, and it is of great importance to clarify what is meant by each of them. The quotes I have used in the introduction all have different meanings implied, and can be interpreted for example in the following manner: First, the South ...
The Commodity Nature of Labor-Power
... 59). On this basis, these authors subsequently obtain the “monetary expression of labor” (MEL) as the ratio between the total price of the net product and the total hours worked. The MEL thereby allows them to transform money-prices into “labor-values.” In the case of labor-power, its “value” expres ...
... 59). On this basis, these authors subsequently obtain the “monetary expression of labor” (MEL) as the ratio between the total price of the net product and the total hours worked. The MEL thereby allows them to transform money-prices into “labor-values.” In the case of labor-power, its “value” expres ...
The commodity nature of labour-power
... 59). On this basis, these authors subsequently obtain the “monetary expression of labor” (MEL) as the ratio between the total price of the net product and the total hours worked. The MEL thereby allows them to transform money-prices into “labor-values.” In the case of labor-power, its “value” expres ...
... 59). On this basis, these authors subsequently obtain the “monetary expression of labor” (MEL) as the ratio between the total price of the net product and the total hours worked. The MEL thereby allows them to transform money-prices into “labor-values.” In the case of labor-power, its “value” expres ...
full paper
... This paper takes as its point of departure a seeming contradiction in the work of Robert Heilbroner with regards to his views on ideology. When we look at the writings of Heilbroner closely, it appears that he does not always take a negative view of ideology. In fact, he has argued for the legitima ...
... This paper takes as its point of departure a seeming contradiction in the work of Robert Heilbroner with regards to his views on ideology. When we look at the writings of Heilbroner closely, it appears that he does not always take a negative view of ideology. In fact, he has argued for the legitima ...
Homo Economicus Goes to War - UCLA Division of Social Sciences
... implications of conflict may be influenced by the symmetrical or asymmetrical features of the strategic ‘‘game,’’ e.g., by whether the incumbent powerholder has an ‘‘edge’’ (Mehlum & Moene, 2000). If this tradeoff is the basic premise of models of conflict, then it is necessary to determine the factors ...
... implications of conflict may be influenced by the symmetrical or asymmetrical features of the strategic ‘‘game,’’ e.g., by whether the incumbent powerholder has an ‘‘edge’’ (Mehlum & Moene, 2000). If this tradeoff is the basic premise of models of conflict, then it is necessary to determine the factors ...
No Slide Title
... The opportunity cost of any activity is what we give up when we make a choice.In other words,it is the loss of the opportunity to pursue the most attractive alternative given the same time and resources. A production possibility curve shows the maximum output of two goods or services that can be pro ...
... The opportunity cost of any activity is what we give up when we make a choice.In other words,it is the loss of the opportunity to pursue the most attractive alternative given the same time and resources. A production possibility curve shows the maximum output of two goods or services that can be pro ...
Globalization - Russell Trenholme
... regarding the course economic development should take in various countries. This book is far shorter and far more accessible than the larger work on neoclassical theory that I began several years ago. This is because the theoretical arguments for free trade, and related arguments against protectioni ...
... regarding the course economic development should take in various countries. This book is far shorter and far more accessible than the larger work on neoclassical theory that I began several years ago. This is because the theoretical arguments for free trade, and related arguments against protectioni ...
From Political Economy to Economics
... This book then uncovers the way in which the social and the historical, but also the methodological, have shifted in presence and content within economic theory during the passage from classical political economy to general equilibrium theory. Inevitably, it involves an account of their reduction in ...
... This book then uncovers the way in which the social and the historical, but also the methodological, have shifted in presence and content within economic theory during the passage from classical political economy to general equilibrium theory. Inevitably, it involves an account of their reduction in ...
JEAN-BAPTISTE SAY AND THE LAW OF MARKETS
... Abstract: Sometimes abstract ideas are expressed in such convincing and forceful language that they are picked up by other writers who use them in ways very different from the intentions of their creator. No idea in economics illustrates this better than Say’s Law of Markets, which escaped from Say’ ...
... Abstract: Sometimes abstract ideas are expressed in such convincing and forceful language that they are picked up by other writers who use them in ways very different from the intentions of their creator. No idea in economics illustrates this better than Say’s Law of Markets, which escaped from Say’ ...
Professorial Inaugural - Universiti Tun Abdul Razak
... Muqaddimah of Ibn Khaldun or also known as the Prolegomena is a model of a distinguished and remarkable work of scholarship that defined the socio-historical realities and intellectual progress of its time. History tells us that Adam Smith’s magnum opus, An Inquiry into the Nature and Causes of the ...
... Muqaddimah of Ibn Khaldun or also known as the Prolegomena is a model of a distinguished and remarkable work of scholarship that defined the socio-historical realities and intellectual progress of its time. History tells us that Adam Smith’s magnum opus, An Inquiry into the Nature and Causes of the ...
Beyond the 2008 Financial “Crisis”
... commodity, such as iron, corn…is therefore a use-value, something useful.” The use-value of the commodity “satisfied human wants of some sort of another.” Marx’s economic object arrives after it has achieved use-value, or a “means of subsistence…or a means of production.” But he then inserts a key m ...
... commodity, such as iron, corn…is therefore a use-value, something useful.” The use-value of the commodity “satisfied human wants of some sort of another.” Marx’s economic object arrives after it has achieved use-value, or a “means of subsistence…or a means of production.” But he then inserts a key m ...
Marx`s Theory of the Money Commodity
... theory of money he quickly fell and remained, again partially, under the influence of Tooke. For the first time certain principles of Marx’s final theory are made explicit: money is a commodity, say gold or silver; money is unique amongst ...
... theory of money he quickly fell and remained, again partially, under the influence of Tooke. For the first time certain principles of Marx’s final theory are made explicit: money is a commodity, say gold or silver; money is unique amongst ...
Principles of Economics, Case and Fair,8e
... price is above marginal cost, there is underproduction from society’s point of view—in other words, society could get more for less, but it does not. Second, strategic behavior can lead to outcomes that are not in society’s best interest. Specifically, strategically competitive firms can force thems ...
... price is above marginal cost, there is underproduction from society’s point of view—in other words, society could get more for less, but it does not. Second, strategic behavior can lead to outcomes that are not in society’s best interest. Specifically, strategically competitive firms can force thems ...
DEPARTEMENT D`ECONOMIE
... As argued by McQuillin & Sugden (2012), the recent development of behavioural economics raises some issues in welfare economics concerning the interpretation of the preference-satisfaction criterion as a normative criterion. They argue that this criterion can be interpreted in three conceptually dif ...
... As argued by McQuillin & Sugden (2012), the recent development of behavioural economics raises some issues in welfare economics concerning the interpretation of the preference-satisfaction criterion as a normative criterion. They argue that this criterion can be interpreted in three conceptually dif ...
The Relation between Marxism and Critical
... close attention to the question of where an investigation of capitalist society should begin. See [Car75, p. 89]. Does critical realism share this concern about the starting point? As far as the broad lines of the argument are concerned, the starting point is extremely important for critical realism ...
... close attention to the question of where an investigation of capitalist society should begin. See [Car75, p. 89]. Does critical realism share this concern about the starting point? As far as the broad lines of the argument are concerned, the starting point is extremely important for critical realism ...
PDF
... contrasting the impact of alternative accounting practices on welfare-relevant and sustainability-relevant concepts of income is to imagine the following cases. If some form of pollution exists that is within the long term absorptive capacity of the environment, but causes disamenities now, then it ...
... contrasting the impact of alternative accounting practices on welfare-relevant and sustainability-relevant concepts of income is to imagine the following cases. If some form of pollution exists that is within the long term absorptive capacity of the environment, but causes disamenities now, then it ...
5.1.3 Net Price and User Cost Applications
... contrasting the impact of alternative accounting practices on welfare-relevant and sustainability-relevant concepts of income is to imagine the following cases. If some form of pollution exists that is within the long term absorptive capacity of the environment, but causes disamenities now, then it ...
... contrasting the impact of alternative accounting practices on welfare-relevant and sustainability-relevant concepts of income is to imagine the following cases. If some form of pollution exists that is within the long term absorptive capacity of the environment, but causes disamenities now, then it ...
SR Relationship Between Production and Cost Total
... • In the long run, there are no fixed costs • The long run cost structure of a firm is related to the firm’s long run production process. • The firm’s long run production process is described by the concept of returns to scale. 2003 Prentice Hall Business Publishing ...
... • In the long run, there are no fixed costs • The long run cost structure of a firm is related to the firm’s long run production process. • The firm’s long run production process is described by the concept of returns to scale. 2003 Prentice Hall Business Publishing ...
Knight`s Theories of Socialism and Capital
... needed to determine whether the socialist aims can be achieved through central planning. Nevertheless, their comparison of Knight with the Austrians on socialism contains a significant shortcoming. It fails to consider the full argument as presented in his 1940a article, in which a more thorough con ...
... needed to determine whether the socialist aims can be achieved through central planning. Nevertheless, their comparison of Knight with the Austrians on socialism contains a significant shortcoming. It fails to consider the full argument as presented in his 1940a article, in which a more thorough con ...
emergence and complexity in austrian economics
... that is, methane combined with oxygen yields carbon dioxide and water, a distinct transformation of one pair of entities into two quite different ones. Inspired by Mill’s discussion, the psychologist, George Henry Lewes (1875, p. 412) coined the term “emergent,” from which the modern scientific “eme ...
... that is, methane combined with oxygen yields carbon dioxide and water, a distinct transformation of one pair of entities into two quite different ones. Inspired by Mill’s discussion, the psychologist, George Henry Lewes (1875, p. 412) coined the term “emergent,” from which the modern scientific “eme ...