"Reading Legitimation Crisis during the Meltdown." Keynote
... Let us leave Habermas for awhile. We'll come back to him. Let us now take a closer look at where we are today. We're in an economic crisis. Why? Let's begin with the standard story: the subprime mortgage debacle has caused a general liquidity crisis, which, in turn, has provoked a recession But what ...
... Let us leave Habermas for awhile. We'll come back to him. Let us now take a closer look at where we are today. We're in an economic crisis. Why? Let's begin with the standard story: the subprime mortgage debacle has caused a general liquidity crisis, which, in turn, has provoked a recession But what ...
Choice, Change, Challenge, and Opportunity
... Two common fallacies that economists try to avoid are: The fallacy of composition, which is the false statement that what is true for the parts is true for the whole or what is true for the whole is true for the parts. The post hoc fallacy from the Latin term “post hoc, ergo propter hoc”—means “afte ...
... Two common fallacies that economists try to avoid are: The fallacy of composition, which is the false statement that what is true for the parts is true for the whole or what is true for the whole is true for the parts. The post hoc fallacy from the Latin term “post hoc, ergo propter hoc”—means “afte ...
The Rise and Fall of Radical Political Economy in the United States
... The Association for Economic and Social Analysis was founded in the late ‘70s and is best known for its journal Rethinking Marxism, launched in 1988. The group promotes a (broadly defined) line of postmodern Marxism (see e.g. Gibson-Graham et. al., 2001), and the journal focuses on debates in Marxi ...
... The Association for Economic and Social Analysis was founded in the late ‘70s and is best known for its journal Rethinking Marxism, launched in 1988. The group promotes a (broadly defined) line of postmodern Marxism (see e.g. Gibson-Graham et. al., 2001), and the journal focuses on debates in Marxi ...
An Emerging Global Monetary-Trade Social Structure of
... obvious enough, and emanate from visions linking the works of Karl Marx, Thorstein Veblen, Joseph Schumpeter, John Maynard Keynes, and Karl Polanyi. It is necessary to, firstly, look into the general contradictions of capitalism and then to see how they manifest and become modified through time. The ...
... obvious enough, and emanate from visions linking the works of Karl Marx, Thorstein Veblen, Joseph Schumpeter, John Maynard Keynes, and Karl Polanyi. It is necessary to, firstly, look into the general contradictions of capitalism and then to see how they manifest and become modified through time. The ...
Fall 2015 Syllabus - Henry George School of Social Science
... theory of real competition to the determination of relative prices, profits, output, interest rates, stock market prices, exchange rates, and international trade. In all cases, the classical approaches will be compared to neoclassical and Keynesian/Post Keynesian ones, and to the relevant empirical ...
... theory of real competition to the determination of relative prices, profits, output, interest rates, stock market prices, exchange rates, and international trade. In all cases, the classical approaches will be compared to neoclassical and Keynesian/Post Keynesian ones, and to the relevant empirical ...
Economic History - The Bleyzer Foundation
... worth". "Usefulness" is not quite a characteristic of a good itself but rather lies in the relationship between goods and people. Aristotle had argued that people's needs were different and thus the degree of usefulness varied and many of the Scholastics adopted this. This might justify why goods sh ...
... worth". "Usefulness" is not quite a characteristic of a good itself but rather lies in the relationship between goods and people. Aristotle had argued that people's needs were different and thus the degree of usefulness varied and many of the Scholastics adopted this. This might justify why goods sh ...
Efeitos da política econômica sobre o setor industrial: uma
... achieve the expected result of these interventions'. Thus, Mises (1977, 2010a) defines intervention as "...a restrictive rule imposed by the government agency, which forces the owners of the means of production and entrepreneurs to employ these means in a different manner as will normally be employe ...
... achieve the expected result of these interventions'. Thus, Mises (1977, 2010a) defines intervention as "...a restrictive rule imposed by the government agency, which forces the owners of the means of production and entrepreneurs to employ these means in a different manner as will normally be employe ...
You Can`t Get There from Here: Reflections on the
... equality and democracy. It holds this form to be the next stage beyond capitalism. Of course any real-world instantiation of such a socialism would exhibit a complex structure, but its basic institutions are simple enough to specify, as are the basic institutions of capitalism. The essential structu ...
... equality and democracy. It holds this form to be the next stage beyond capitalism. Of course any real-world instantiation of such a socialism would exhibit a complex structure, but its basic institutions are simple enough to specify, as are the basic institutions of capitalism. The essential structu ...
The archaeology of economic thought
... nothing except his rationality. In an ideal market he has perfect knowledge of prices, which form the only medium for his interaction with society.5 The hedonistic conception of man is that of a lightning calculator of pleasures and pains, who oscillates like a homogenous globule of desire of happin ...
... nothing except his rationality. In an ideal market he has perfect knowledge of prices, which form the only medium for his interaction with society.5 The hedonistic conception of man is that of a lightning calculator of pleasures and pains, who oscillates like a homogenous globule of desire of happin ...
Marxism, Crisis Theory and the Crisis of the Early 21st Century
... of the capitalist process." But this is to ignore his dialectical method. It is true that nowhere does Marx present a single crisis theory. He offers different explanations in different contexts. This should not be surprising, for Marx's science is not a deterministic one but a dialectical approach ...
... of the capitalist process." But this is to ignore his dialectical method. It is true that nowhere does Marx present a single crisis theory. He offers different explanations in different contexts. This should not be surprising, for Marx's science is not a deterministic one but a dialectical approach ...
Review of - Emiliano Brancaccio
... correspond as closely as possible to the actual operation of market economies. The ‘imperfectionist’ approach can be regarded as the new mainstream in the neoclassical sphere. It claims to establish a compromise between pure neo-Walrasian theory and the most recent macroeconomic applications, some ...
... correspond as closely as possible to the actual operation of market economies. The ‘imperfectionist’ approach can be regarded as the new mainstream in the neoclassical sphere. It claims to establish a compromise between pure neo-Walrasian theory and the most recent macroeconomic applications, some ...
quaderni del dipartimento di economia politica e statistica
... problem, however: we are reasoning in circle. To know the price of goods we must first know the profit rate;6 but, as just seen, we cannot calculate it if we do not know prices first – since they are necessary to measure P, N and C in value. The reader will recognize that this measurement problem is ...
... problem, however: we are reasoning in circle. To know the price of goods we must first know the profit rate;6 but, as just seen, we cannot calculate it if we do not know prices first – since they are necessary to measure P, N and C in value. The reader will recognize that this measurement problem is ...
Socialism: the 20th Century and the 21st Century Dr. Minqi Li
... Thirdly, the 20th century socialist economies clearly demonstrated the ability to conduct innovation on a large scale and in a systematic manner, and to deliver rising labor productivity over time. In some areas, the socialist states even managed to match or surpass the achievements of the advanced ...
... Thirdly, the 20th century socialist economies clearly demonstrated the ability to conduct innovation on a large scale and in a systematic manner, and to deliver rising labor productivity over time. In some areas, the socialist states even managed to match or surpass the achievements of the advanced ...
History of economic thought
... backing the Quantity Theory of Money. Thomas Mun (1571–1641) describes early mercantilist policy in his book England's Treasure by Foreign Trade. According to Mun, trade was the only way to increase England's treasure (national wealth), and in pursuit of this end he suggested several courses of acti ...
... backing the Quantity Theory of Money. Thomas Mun (1571–1641) describes early mercantilist policy in his book England's Treasure by Foreign Trade. According to Mun, trade was the only way to increase England's treasure (national wealth), and in pursuit of this end he suggested several courses of acti ...
Chapter 3 - Higher Education | Kendall Hunt Publishing
... would interact and they would freely determine the price at which goods and services would be bought and sold, as well as the quantity of a particular good or service that would be demanded and supplied. A free market, in its purest form, would have absolutely no government ownership or regulation. ...
... would interact and they would freely determine the price at which goods and services would be bought and sold, as well as the quantity of a particular good or service that would be demanded and supplied. A free market, in its purest form, would have absolutely no government ownership or regulation. ...
chapter one
... ___1. Economics is the scientific study of how people and institutions in society make choices and how these choices determine the use of society’s scarce resources. ___2. Economics is considered one of the social sciences. ___3. Economics has many universal, ironclad laws that make it a science. __ ...
... ___1. Economics is the scientific study of how people and institutions in society make choices and how these choices determine the use of society’s scarce resources. ___2. Economics is considered one of the social sciences. ___3. Economics has many universal, ironclad laws that make it a science. __ ...
Unit01 - Eddie Jackson
... That's a good explanation. What about appealing to people's self-interests versus their humanity? This was a central theme to Adam Smith's statement. For example: would I rather help somebody because it's the right thing to do (using my skillset), or would I rather get paid extremely well and perhap ...
... That's a good explanation. What about appealing to people's self-interests versus their humanity? This was a central theme to Adam Smith's statement. For example: would I rather help somebody because it's the right thing to do (using my skillset), or would I rather get paid extremely well and perhap ...
EconomicTheoriesLecture20 11
... Cayman Island company secretly owned by the majority shareholder who sells the rights to seven cows back to your listed company. The annual report says the company owns eight cows, with an option on one more and this transaction process is upheld by your independent auditor and no Balance Sheet prov ...
... Cayman Island company secretly owned by the majority shareholder who sells the rights to seven cows back to your listed company. The annual report says the company owns eight cows, with an option on one more and this transaction process is upheld by your independent auditor and no Balance Sheet prov ...
30 the journal of economic review
... Differences are most stark when it comes to deciding which factor is the most important. For example, in the Austrian view—often shared by neoclassical and other "free market" economists—the primary factor of production is the time of the entrepreneur, which, when combined with other factors, determ ...
... Differences are most stark when it comes to deciding which factor is the most important. For example, in the Austrian view—often shared by neoclassical and other "free market" economists—the primary factor of production is the time of the entrepreneur, which, when combined with other factors, determ ...
Rethinking the Market Economy - Emerging Issues in Management
... firm depends on results observed over a three to five years period. Businesses need to shoulder greater responsibility which requires a longer time-horizon and mindset It is time to reassess the relationship between shareholder and societal value and reconnect companies with the long term (Barton 20 ...
... firm depends on results observed over a three to five years period. Businesses need to shoulder greater responsibility which requires a longer time-horizon and mindset It is time to reassess the relationship between shareholder and societal value and reconnect companies with the long term (Barton 20 ...
Socialism after Hayek: A Post Keynesian Contribution to Burczak`s
... would not be exploited since they own the output they produce and are the last owners of their labor time. This definition, however, does not recognize that workers in general are exploited by (global) competitive market structures regardless of employers. It also implies that a self-employed individ ...
... would not be exploited since they own the output they produce and are the last owners of their labor time. This definition, however, does not recognize that workers in general are exploited by (global) competitive market structures regardless of employers. It also implies that a self-employed individ ...
Roots of Capitalist Stability and Instability
... wealth. The issue is not whether this wealth-based demand for money exists, but rather how much it actually matters for understanding the operations of capitalism. The monetarists say that this is not a major issue, since the demand for money as a store of wealth is reasonably stable over time. If ...
... wealth. The issue is not whether this wealth-based demand for money exists, but rather how much it actually matters for understanding the operations of capitalism. The monetarists say that this is not a major issue, since the demand for money as a store of wealth is reasonably stable over time. If ...
UNDERSTANDING NEOLIBERALISM
... on the ‘real’ economy, the production of goods and services to meet the needs of households and businesses; through time, financial activities expand to the point where they displace real production as the driving force in capitalist accumulation. A capitalism that is financialised, or ‘finance-led’ ...
... on the ‘real’ economy, the production of goods and services to meet the needs of households and businesses; through time, financial activities expand to the point where they displace real production as the driving force in capitalist accumulation. A capitalism that is financialised, or ‘finance-led’ ...
CITAS DE IRVING FISHER: ECONOMÍA, EL PROBLEMA DE LA
... ownership of wealth; the modes of its accumulation and dissipation; the reasons that some people have so much of it and others so little; and the principles that regulate its exchange and the prices which result from exchange (…) It is worth emphasizing at the outset, that the chief purpose of econo ...
... ownership of wealth; the modes of its accumulation and dissipation; the reasons that some people have so much of it and others so little; and the principles that regulate its exchange and the prices which result from exchange (…) It is worth emphasizing at the outset, that the chief purpose of econo ...
1 János Kornai`s comparative theory and defense of capitalism
... of its « nature ». Believing that its problems could be entirely solved would be naive, but « much can be done to alleviate the detrimental effect of the surplus economy », as for example : procurement and inventory policies, state regulation in view of fair competition, fight against corruption, ev ...
... of its « nature ». Believing that its problems could be entirely solved would be naive, but « much can be done to alleviate the detrimental effect of the surplus economy », as for example : procurement and inventory policies, state regulation in view of fair competition, fight against corruption, ev ...