Planned economic contraction: the emerging
... expenditure in the market is an expression of the value consumers place on the goods and services they consume. An increase in income, therefore, should mean that consumers (including governments) ...
... expenditure in the market is an expression of the value consumers place on the goods and services they consume. An increase in income, therefore, should mean that consumers (including governments) ...
A sociology of profit - American Economic Association
... for capital flows into the more profitable sectors and out of less profitable, which according to Marx and in contrast to classical surplus theorists, cannot simply be assumed to converge into an equilibrium, since ‘productive powers’ which describes the materiality and organization of production a ...
... for capital flows into the more profitable sectors and out of less profitable, which according to Marx and in contrast to classical surplus theorists, cannot simply be assumed to converge into an equilibrium, since ‘productive powers’ which describes the materiality and organization of production a ...
Economic Science and Evolution of Economic Agents` Expectations
... socio-economic system of society itself, together going through stability stages and periods of revolutionary transformations and crises. In course of time, the change of economic order, shifts in productive forces and production relations development, formation of markets and new economic system, f ...
... socio-economic system of society itself, together going through stability stages and periods of revolutionary transformations and crises. In course of time, the change of economic order, shifts in productive forces and production relations development, formation of markets and new economic system, f ...
The Industrial Revolution in Theory and in History
... systems granting innovators property in the knowledge they created, these systems still give less reward to investment in knowledge than its social benefits. First new techniques generate some consumer surplus which the producers cannot appropriate even if they had absolute control of the knowledge ...
... systems granting innovators property in the knowledge they created, these systems still give less reward to investment in knowledge than its social benefits. First new techniques generate some consumer surplus which the producers cannot appropriate even if they had absolute control of the knowledge ...
Institutional Marxian Political Economy: A Conceptual Marriage
... become a “pure” capitalist economy by eventually eliminating the pre-capitalist residue and commodifying labour with the creation of a relative surplus population through cyclical crises. Marx was quite successful in abstracting a “pure” capitalist economy from tendencies capital exhibited in his t ...
... become a “pure” capitalist economy by eventually eliminating the pre-capitalist residue and commodifying labour with the creation of a relative surplus population through cyclical crises. Marx was quite successful in abstracting a “pure” capitalist economy from tendencies capital exhibited in his t ...
Dictatorship, Interest Groups and Government Predation: The Case
... combined with electoral malpractice and human rights violations to cause an unprecedented socio-economic meltdown (Robinson and Torvik 2009, Makina 2010). After Mugabe and his allies seized and redistributed commercial and financial institutions in 2002, investment ceased and capital and labour fled ...
... combined with electoral malpractice and human rights violations to cause an unprecedented socio-economic meltdown (Robinson and Torvik 2009, Makina 2010). After Mugabe and his allies seized and redistributed commercial and financial institutions in 2002, investment ceased and capital and labour fled ...
Technical change in a two-sector model of optimal growth
... 2 show, this analysis is crucial in understanding the growth pattern that prevailed in the USA at least for the last thirty years. This paper is an attempt to partially bridge this gap. We analyze the consequences of technical shocks on the two-sector golden rule steady state. We presume this method ...
... 2 show, this analysis is crucial in understanding the growth pattern that prevailed in the USA at least for the last thirty years. This paper is an attempt to partially bridge this gap. We analyze the consequences of technical shocks on the two-sector golden rule steady state. We presume this method ...
Technological competition
... in a series of analyses of differences in cross-country growth performance over the long run, emphasizing in particular the scope for catch-up and the various “ capabilities” that latecomers needed to generate in order to avoid “falling behind”. A similar argument, emphasizing in particular the cruc ...
... in a series of analyses of differences in cross-country growth performance over the long run, emphasizing in particular the scope for catch-up and the various “ capabilities” that latecomers needed to generate in order to avoid “falling behind”. A similar argument, emphasizing in particular the cruc ...
Chaotic Hysteresis and Systemic Economic Transformation
... tend to tilt rather strongly in one direction or the other. But the former CPEs, especially those with more deeply entrenched hysteresis or systemic memory, such as the former Soviet Union (FSU), have entered into this intermediate zone where they are neither fish nor fowl. Indeed they do not even g ...
... tend to tilt rather strongly in one direction or the other. But the former CPEs, especially those with more deeply entrenched hysteresis or systemic memory, such as the former Soviet Union (FSU), have entered into this intermediate zone where they are neither fish nor fowl. Indeed they do not even g ...
The economic problem of a community - FEP
... of intermediate products and potentialities of production” (1920: 103). According to Mises, then, in an economy in which complex economic problems are constantly being solved – more or less satisfactorily – there must exist an economically meaningful process of intellectual division of labour 1. ...
... of intermediate products and potentialities of production” (1920: 103). According to Mises, then, in an economy in which complex economic problems are constantly being solved – more or less satisfactorily – there must exist an economically meaningful process of intellectual division of labour 1. ...
`Limits to growth` and
... confuse the issue of how consumption should be spread over time, which is the growth issue, with that of how resources should be used at any moment of time. The fact that resources are misallocated at any moment of time on account of failure to correct for externalities does not necessarily mean tha ...
... confuse the issue of how consumption should be spread over time, which is the growth issue, with that of how resources should be used at any moment of time. The fact that resources are misallocated at any moment of time on account of failure to correct for externalities does not necessarily mean tha ...
Sustainable Development of Natural Resource Capital
... PRINCIPLES OF SUSTAINABLE DEVELOPMENT – Vol. I – Sustainable Development of Natural Resource Capital - Sylvie Faucheux ...
... PRINCIPLES OF SUSTAINABLE DEVELOPMENT – Vol. I – Sustainable Development of Natural Resource Capital - Sylvie Faucheux ...
A Marx for the Left Today: Interview with Marcello
... forget the two parts of the equation. We always have to recall that Marx wanted to complete his Herculean work. Incompleteness and fragmentariness are characteristic of Marx’s oeuvre because the subject matter for the critical examination of his writings was, very often, so vast that it would have t ...
... forget the two parts of the equation. We always have to recall that Marx wanted to complete his Herculean work. Incompleteness and fragmentariness are characteristic of Marx’s oeuvre because the subject matter for the critical examination of his writings was, very often, so vast that it would have t ...
Università della Svizzera italiana, Lugano Facoltà di Scienze
... Development theories may either be claiming universal validity or be particular in the sense of not accepting the universal character of the theories belonging to the first branch, the universal theories. These are based on the concept of a development process which is unique meaning it does not ac ...
... Development theories may either be claiming universal validity or be particular in the sense of not accepting the universal character of the theories belonging to the first branch, the universal theories. These are based on the concept of a development process which is unique meaning it does not ac ...
Hypercapitalism: A political economy of informational
... world had ever seen: World War II. Hitler, Roosevelt, and Churchill used the radio to equal effect. At the same time, research into public opinion, a ‘child of America in the 1930s’, turned knowledge about public opinion into the most valuable of all commodities (Hobsbawm 1994: 142-5; cf. also Innis ...
... world had ever seen: World War II. Hitler, Roosevelt, and Churchill used the radio to equal effect. At the same time, research into public opinion, a ‘child of America in the 1930s’, turned knowledge about public opinion into the most valuable of all commodities (Hobsbawm 1994: 142-5; cf. also Innis ...
IOSR Journal of Economics and Finance (IOSR-JEF)
... developing economies, shortage of capital has always been identified as a crucial limiting factor in the process of development. While the development may not be a singular function of capital, yet other factors can be made available by increase in capital stock. Development usually necessitates lar ...
... developing economies, shortage of capital has always been identified as a crucial limiting factor in the process of development. While the development may not be a singular function of capital, yet other factors can be made available by increase in capital stock. Development usually necessitates lar ...
ECONOMIC AGENDA OF THECOMMUNIST PARTIES OF NEPAL A
... words Marxism and Leninism are inseparable from the origin and development of Marxist principles. After Lenin, various thoughts and experiments have been developed within the framework of Marxist-Leninist philosophy but any other isms cannot be found to be added with Marxism-Leninism. It is a disput ...
... words Marxism and Leninism are inseparable from the origin and development of Marxist principles. After Lenin, various thoughts and experiments have been developed within the framework of Marxist-Leninist philosophy but any other isms cannot be found to be added with Marxism-Leninism. It is a disput ...
Joseph A. Schumpeter`s Social Theory
... machine that fulfills its function of supplying society with the means of its material production and reproduction, regardless of its particular environment. Although this image of the "circular flow" economy may seem quite unrealistic, Schumpeter claimed that it is not entirely fictitious: it prope ...
... machine that fulfills its function of supplying society with the means of its material production and reproduction, regardless of its particular environment. Although this image of the "circular flow" economy may seem quite unrealistic, Schumpeter claimed that it is not entirely fictitious: it prope ...
Property-Owning Democracy or Economic Democracy?
... A careful presentation of such a system has been made by the economist John Roemer.10 Roemer does not call his system a "property-owning democracy." He identifies it as a form of socialism. However, he does not want to identify "socialism" with "public ownership of the means of production" as the so ...
... A careful presentation of such a system has been made by the economist John Roemer.10 Roemer does not call his system a "property-owning democracy." He identifies it as a form of socialism. However, he does not want to identify "socialism" with "public ownership of the means of production" as the so ...
Conservation capital and sustainable economic growth
... environmental degradation associated with economic activity. Underlying this framework is the premise that pollution is caused because inputs are not used effectively in the process of production, that is, inputs are not converted completely (embodied) into useful output. The less effective the use ...
... environmental degradation associated with economic activity. Underlying this framework is the premise that pollution is caused because inputs are not used effectively in the process of production, that is, inputs are not converted completely (embodied) into useful output. The less effective the use ...
PDF
... Lucas type endogenous growth model, and assume that the use of polluting inputs raises the probability that capital stocks are destroyed by natural disasters. In the model, we show that as long as the cost of using polluting inputs is constant, economic growth is not sustainable because the risk of ...
... Lucas type endogenous growth model, and assume that the use of polluting inputs raises the probability that capital stocks are destroyed by natural disasters. In the model, we show that as long as the cost of using polluting inputs is constant, economic growth is not sustainable because the risk of ...
Cities and the Creative Class
... growth has emerged. This theory postulates that people are the motor force behind regional growth. Its proponents thus refer to it as the “human capital” theory of regional development. Economists and geographers have always accepted that economic growth is regional— that it is driven by, and spread ...
... growth has emerged. This theory postulates that people are the motor force behind regional growth. Its proponents thus refer to it as the “human capital” theory of regional development. Economists and geographers have always accepted that economic growth is regional— that it is driven by, and spread ...
Transition Dynamics in Vintage Capital Models: Japan
... experienced by Germany and Japan during both the prewar military build-up and the war itself contributed to the slow diffusion of new technologies. Ohkawa and Rosovsky (1968, p.42) summarize the situation in Japan as follows: The war and its aftermath produced a long interruption of normal Japanese ...
... experienced by Germany and Japan during both the prewar military build-up and the war itself contributed to the slow diffusion of new technologies. Ohkawa and Rosovsky (1968, p.42) summarize the situation in Japan as follows: The war and its aftermath produced a long interruption of normal Japanese ...
Paradigms of Explanation and Varieties of Capitalism
... often people talk past each other – sticking to their chosen measure of performance while declining to lock horns with the performance indicators preferred by others. For there is disagreement abroad not only about which form of capitalism, if any, is to be preferred, but also about how that perform ...
... often people talk past each other – sticking to their chosen measure of performance while declining to lock horns with the performance indicators preferred by others. For there is disagreement abroad not only about which form of capitalism, if any, is to be preferred, but also about how that perform ...
“The Bourgeoisie, Historically, Has Played a Most Revolutionary Part”:
... So far, so good – but the expanded reproduction of capital and thus the reproduction of the capital-labour relation is no smooth and simple matter; on the contrary, it is a profoundly crisis-prone affair. Crises of accumulation can be defined as interruptions in the reproduction process resulting fr ...
... So far, so good – but the expanded reproduction of capital and thus the reproduction of the capital-labour relation is no smooth and simple matter; on the contrary, it is a profoundly crisis-prone affair. Crises of accumulation can be defined as interruptions in the reproduction process resulting fr ...