2024-03-29T12:26:46Z
https://mpra.ub.uni-muenchen.de/cgi/oai2
oai:mpra.ub.uni-muenchen.de:482
2019-10-04T06:15:40Z
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7375626A656374733D4F:4F31:4F3130
7375626A656374733D42:4235:423530
7375626A656374733D42:4230:423030
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/482/
The poverty of nations
Freeman, Alan
O10 - General
B50 - General
B00 - General
Why, despite unceasing technical advance, do most people live in growing poverty, and why has the inequality between nations increased apparently without limit throughout the history of the world market? Thes two deeply-related (though distinct) problem reduce to the following: how is it that technical progress, which for the first time makes it physically possible to liberate human beings from subjection to Nature, not only maintains but produces and reproduces social regression, deprivation and division?
Answers to this question divide, simply, into two: theories which treat polarisation and poverty as exogenous to the market and those which attempt to show they are an endogenous product of the market. For the first group of theories, which recognise the theoretical coherence of mainstream accounts of trade such as the Samuelson Factor-Price theorem, the natural tendency of the market is not only to optimise but also to equalise. Equalisation, whilst it does not follow with necessary logic from the fundamental theorems of microeconomic equilibriam such as Pareto optimality, does so follow on the basis of simple additional assumptions which appear not to be violated in the world today, and the fact that it occurs is in consequence counterfactual to existing theory. If the fundamentals of general equilibrium economic theory are to be maintained in the face of the evidence of long-term trends in world inequality, polarisation must be explained as an outcome of institutional or other factors outside of the market: history, governance, accident, or culture.
Other authors, such as the dependency theorists (of which Gunder-Frank's 'Development of Underdevelopment' is perhaps the most emphatic example), assert that it is the market itself that produces polarisation. This body of work, notwithstanding, has failed to generate an explanation which is both coherent, general, and rigorous, of how the market can do this.
The purpose of this article is to demonstrate that there are mechanisms intrinsic to the market and indissociable from it, which necessarily generate polarisation. These mechanisms however cannot be explained on the basis of the assumptions of general equilibrium or any theory based upon it. They arise from technological rent, once known as super-profit or surplus-profit, the differential profit earned by the owners of superior means of production. Any theory rooted in the assumption of equilibrium necessarily ignores (in fac, suppresses) the effect of differential rent which, notwithstanding, creates positive feedback creating an effective monopoly of innovation in the hands of those countries in which the most advanced means of production are to be found, as has been noted - but not explained - by writers such as Khor.
The article details a value-theoretic concept of the mechanisms of long-term polarisation and demonstrates that such an explanation requires the abandonment of the assumption of general economic equibrium and the adoption of a temporal methodology.
1996-07
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/482/1/MPRA_paper_482.pdf
Freeman, Alan (1996): The poverty of nations. Published in: LINKS No. July-October 1996 (July 1996): pp. 35-58.
en
oai:mpra.ub.uni-muenchen.de:1290
2019-09-26T15:16:14Z
7374617475733D707562
7375626A656374733D45:4533:453332
7375626A656374733D42:4234:423430
7375626A656374733D42:4235:423530
7375626A656374733D42:4232:423234
7375626A656374733D42:4230:423030
7375626A656374733D42:4235:423531
7375626A656374733D42:4231:423134
7375626A656374733D42:4231:423132
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/1290/
Price, value and profit – a continuous, general, treatment
Freeman, Alan
E32 - Business Fluctuations ; Cycles
B40 - General
B50 - General
B24 - Socialist ; Marxist ; Sraffian
B00 - General
B51 - Socialist ; Marxian ; Sraffian
B14 - Socialist ; Marxist
B12 - Classical (includes Adam Smith)
This text comprises chapter 13 of Marx and non-equilibrium Economics[1]. It provides a general mathematical specification of a non-equilibrium interpretation of Marx’s theory of value. It refutes the Okishio theorem and solves the transformation problem. It is a foundation work of scholarship within the TSSI (temporal single-system interpretation) of Marx.
It specifies temporal values within a continuous-time framework as opposed to a discrete-time framework, and shows how to pass from discrete or serial time (difference equation, sequential) formalisations to continuous (differential equation, temporal) formalisations of the conservation of value.
[1] Freeman, A. and Carchedi, G. (eds) (1996), Marx and Non-Equilibrium Economics, pp1-29. Cheltenham: Edward Elgar. ISBN 1 85898 268 5.
1996-04
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/1290/1/MPRA_paper_1290.pdf
Freeman, Alan (1996): Price, value and profit – a continuous, general, treatment. Published in: Marx and Non-Equilibrium Economics (book) (April 1996): pp. 180-233.
en
oai:mpra.ub.uni-muenchen.de:1291
2019-09-28T06:41:36Z
7374617475733D756E707562
7375626A656374733D42:4230:423030
7375626A656374733D42:4235:423533
7375626A656374733D42:4234:423431
7375626A656374733D42:4232:423234
7375626A656374733D42:4231:423136
7375626A656374733D42:4231:423134
7375626A656374733D42:4231:423132
7375626A656374733D42:4235:423530
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/1291/
Mr Marx and the neoclassics
Freeman, Alan
B00 - General
B53 - Austrian
B41 - Economic Methodology
B24 - Socialist ; Marxist ; Sraffian
B16 - Quantitative and Mathematical
B14 - Socialist ; Marxist
B12 - Classical (includes Adam Smith)
B50 - General
This article, presented to the Annual Conference of the History of Economics Society, Vancouver July 1996, gives a historical analysis of the origins of the general equilibrium or comparative static approach and demonstrates that economic thought as a whole is divided, in each of its schools of thought, between the equilibrium paradigm and its alternative, the temporal paradigm. This applies across the board with, for example, the divergence between Post-Keynesian or Kaleckian economics, between Austrian economics and Walrasian general equilibrium, and in many other contexts.
The article demonstrates the difference between the equilibrium and temporal approach using a demonstration of ‘adjustment’ effects in a simple corn-cycle model. It goes on to analyse the reasons why, in the history of thought, adjustment or dynamic effects have been considered as ignorable when in fact they are not.
It suggests that the traditional division of the succession of ideas in economic thought – physiocracy, the classics, Marx, marginalism – needs to be reviewed in this light, and argues for a reconsideration of the contribution of Marx to economics, placing him as the first and in many ways the most consistent in a suppressed non-equilibrium tradition in economic thought.
It suggests that in this light, Marx has more in common with Austrian and Post-Keynesian thinking than with Ricardo and Smith, among whose ranks he is normally and commonly grouped.
1996-07
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/1291/1/MPRA_paper_1291.pdf
Freeman, Alan (1996): Mr Marx and the neoclassics.
en
oai:mpra.ub.uni-muenchen.de:1539
2019-09-27T03:51:02Z
7374617475733D707562
7375626A656374733D42:4235:423530
7375626A656374733D42:4231:423134
7375626A656374733D42:4235
7375626A656374733D42:4231:423132
7375626A656374733D42:4232:423234
7375626A656374733D42:4235:423531
7375626A656374733D42:4231:423133
7375626A656374733D42:4234
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/1539/
The Psychopathology of Walrasian Marxism
Freeman, Alan
B50 - General
B14 - Socialist ; Marxist
B5 - Current Heterodox Approaches
B12 - Classical (includes Adam Smith)
B24 - Socialist ; Marxist ; Sraffian
B51 - Socialist ; Marxian ; Sraffian
B13 - Neoclassical through 1925 (Austrian, Marshallian, Walrasian, Stockholm School)
B4 - Economic Methodology
This text comprises chapter 1 of Marx and non-equilibrium Economics[1]. It specifies a non-equilibrium (temporal) interpretation of Marx’s theory of value which demonstrates a fully consistent transformation of values into prices and reproduces Marx’s tendential law of the falling profit rate. It seeks to explain why this approach to value is inaccessible to consciousness under present social relations, and why resistance to its acceptance has been particularly strong among Marxists.
[1] Freeman, A. (1996b) ‘The psychopathology of Walrasian Marxism’, in Freeman, A.. and Carchedi, G. (eds) (1996), Marx and Non-Equilibrium Economics, pp1-29. Cheltenham: Edward Elgar. ISBN 1 85898 268 5.
1996
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/1539/1/MPRA_paper_1539.pdf
Freeman, Alan (1996): The Psychopathology of Walrasian Marxism. Published in: Freeman, A. and Guglielmo Carchedi 'Marx and non-equilibrium economics', Aldershot: Edward Elgar (1996): pp. 1-29.
en
oai:mpra.ub.uni-muenchen.de:1998
2019-09-26T13:49:38Z
7374617475733D707562
7375626A656374733D42:4235:423530
7375626A656374733D4F:4F33:4F3330
7375626A656374733D4F:4F31:4F3130
7375626A656374733D42:4234:423431
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7375626A656374733D4F:4F33:4F3331
7375626A656374733D42:4232:423230
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/1998/
A general refutation of Okishio’s theorem and a proof of the falling rate of profit
Freeman, Alan
B50 - General
O30 - General
O10 - General
B41 - Economic Methodology
B24 - Socialist ; Marxist ; Sraffian
B51 - Socialist ; Marxian ; Sraffian
O31 - Innovation and Invention: Processes and Incentives
B20 - General
This is the first published general refutation of the Okishio theorem. An earlier refutation based on a specific example was published by Kliman and McGlone in 1988.
Okishio’s theorem, published in 1961, asserts that if real wages stay constant, the rate of profit necessarily rises in consequence of any cost-reducing technical change. It proves this within a simultaneous equation (general equlibrium) framework.
This paper establishes that this proposition is false within a differential equation (temporal) approach. In such a framework the denominator of the rate of profit rises continuously, regardless of whether or not there is technical change, unless capitalist consumption exceeds profit, as occurs in a slump.
Okishio himself asserts that his theorem is ‘contrary to Marx’s Gesetz des Tendentiellen Falls der Profitrate’ – contrary to Marx’s law of the tendency of the rate of profit to fall. This assertion is, within the literature, universally taken to be the substantive content of the ‘Okishio Theorem’. Thus, if Marx’s approach to value is in fact temporal, and not simultaneist, this assertion by Okishio is false, since it applies not to Marx’s own theory, but to the interpretation of that theory subsequently attributed to Marx by a specific school of thought represented principally by Bortkiewicz, Sweezy, Morishima, Seton, and Steedman.
The subsequent accumulation of hermeneutic evidence strongly supports the thesis that Marx’s theory is temporalist and not simultaneist.
Since the Okishio theorem makes the general assertion that the rate of profit must necessarily rise if there are cost-saving technical changes, and since Kliman and McGlone demonstrate a particular case in which cost-saving technical change leads to a fall in the profit rate, the Kliman-McGlone paper is the first published refutation of the Okishio theorem. The present paper is a generalisation of this refutation which establishes the precise conditions under which the profit rate rise or falls, and establishes the general result that the profit rate necessarily falls as a consequence of capitalist accumulation with a constant real wage, until and unless accumulation ceases in value terms.
Consequently the mathematical findings set out in this paper, refute the Okishio Theorem.
1998
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/1998/1/MPRA_paper_1998.pdf
Freeman, Alan (1998): A general refutation of Okishio’s theorem and a proof of the falling rate of profit. Published in: Bellofiore, R (ed) Marxian Economics: a Reappraisal, Volume 2, pp139-162. Basingstoke: McMillan. ISBN 0 333 64411 5 (1998): pp. 139-162.
en
oai:mpra.ub.uni-muenchen.de:2303
2019-09-29T23:07:23Z
7374617475733D756E707562
7375626A656374733D42:4232:423230
7375626A656374733D42:4232:423234
7375626A656374733D42:4235:423531
7375626A656374733D42:4234:423431
7375626A656374733D42:4235:423530
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/2303/
What happens in crashes? a non-equilibrium, value-theoretic approach to liquidity preference
Freeman, Alan
B20 - General
B24 - Socialist ; Marxist ; Sraffian
B51 - Socialist ; Marxian ; Sraffian
B41 - Economic Methodology
B50 - General
This paper, presented at the 1998 conference of the European Association for Evolutionary Political Economy in Lisbon, shows how variations in the value of money, and in the exchange rate between different moneys of account, lead to transfers of value on the one hand between national or continental monetary blocs and on the other, between the financial and productive sectors of a single national economy.
It discusses how these transfers may serve as the mechanism underlying the business cycle and suggests that they may also account for the phenomenon of liquidity preference. It suggests that the concept of liquidity preference constitutes a potential common ground between value-theoretic and post-Keynesian schools of thought.
It is set against the background of the 1997 Asian crisis and reflects on the role and reliability of the economics profession.
1998-11
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/2303/1/MPRA_paper_2303.pdf
Freeman, Alan (1998): What happens in crashes? a non-equilibrium, value-theoretic approach to liquidity preference.
en
oai:mpra.ub.uni-muenchen.de:2573
2019-09-27T06:53:39Z
7374617475733D756E707562
7375626A656374733D42:4235:423530
7375626A656374733D42:4231:423133
7375626A656374733D42:4235:423531
7375626A656374733D42:4235
7375626A656374733D42:4232:423234
7375626A656374733D42:4231:423134
7375626A656374733D42:4234
7375626A656374733D42:4231:423132
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/2573/
A dialogue concerning the two chief systems of value
Freeman, Alan
B50 - General
B13 - Neoclassical through 1925 (Austrian, Marshallian, Walrasian, Stockholm School)
B51 - Socialist ; Marxian ; Sraffian
B5 - Current Heterodox Approaches
B24 - Socialist ; Marxist ; Sraffian
B14 - Socialist ; Marxist
B4 - Economic Methodology
B12 - Classical (includes Adam Smith)
This paper was presented to the Brasilian Society for Political Economy at its 1998 conference. It presents the principal differences between the temporal and the simultaneist approach to the theory of value. It was the first paper to present a formal conceptual analogy between the temporal approach in economics, and the Galilean approach in astronomy. At that time, the problem which I sought to address was, how is retrogression possible in economic thought? This same question is at the centre of my response to Laibman in 'The new value controversy in economics'.
Keywords: Temporalism; TSSI; Value; Marx; rate of profit; transformation; non-equilibrium; Walras;
1998-06
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/2573/1/MPRA_paper_2573.pdf
Freeman, Alan (1998): A dialogue concerning the two chief systems of value.
en
oai:mpra.ub.uni-muenchen.de:2575
2019-10-01T18:09:08Z
7374617475733D756E707562
7375626A656374733D42:4235:423530
7375626A656374733D42:4230:423030
7375626A656374733D4F:4F31
7375626A656374733D4F:4F31:4F3130
7375626A656374733D4F:4F33
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/2575/
Die Armut von Nationen
Freeman, Alan
B50 - General
B00 - General
O1 - Economic Development
O10 - General
O3 - Innovation ; Research and Development ; Technological Change ; Intellectual Property Rights
This paper is an updated german translation of Freeman (1996) ‘The Poverty of Nations’, LINKS, July-October 1996 pp35-58. ISSN 1321-795X. It was presented to a 1999 seminar at the Freie University of Berlin and distributed to delegates attending the 1999 conference of INKRIT in Potsdam, Berlin. A supplementary paper provides updated charts dealing with the growth of world poverty.
Keywords: Inequality, globalisation, poverty, Marx, unequal exchange, imperialism, value, TSSI, temporalism
1996-07
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/2575/1/MPRA_paper_2575.pdf
Freeman, Alan (1996): Die Armut von Nationen.
de
oai:mpra.ub.uni-muenchen.de:2588
2019-09-28T01:06:59Z
7374617475733D756E707562
7375626A656374733D45:4533:453332
7375626A656374733D42:4234:423430
7375626A656374733D42:4231:423134
7375626A656374733D42:4231:423132
7375626A656374733D42:4230:423030
7375626A656374733D42:4232:423234
7375626A656374733D42:4235:423531
7375626A656374733D42:4235:423530
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/2588/
Marxian debates on the falling rate of profit
Freeman, Alan
E32 - Business Fluctuations ; Cycles
B40 - General
B14 - Socialist ; Marxist
B12 - Classical (includes Adam Smith)
B00 - General
B24 - Socialist ; Marxist ; Sraffian
B51 - Socialist ; Marxian ; Sraffian
B50 - General
The purpose of this paper is to examine the discussion among marxists about the rate of profit. This is done by the method of symptomatic reading, hence in a different way from what has become standard. Beginning from the fact that Marx and his critics draw diametrically opposite conclusions from the same premises – continuously rising productivity as a defining element of accumulation – I enquire into the presuppositions and necessary conclusions of the two opposed interpretations in order to lay bare the logical world-view which underlies them.
I show that the opposed conclusions which are drawn by scholars from the two main paradigms arise not from errors of logic but from their opposed value concepts. My aim is, without presupposing which is right, to investigate what each concept actually is.
This paper is non-mathematical but contains many numerical examples and a detailed textual exigesis. It is a good starting point for the new student of temporal approaches to value and their difference from the simultaneist (equilibrium) standpoint.
It contains a more or less complete non-mathematical exposition of the temporal calculation of the profit rate, and demonstrates that the simultaneist approach leads to the creation of value without labour.
Keywords: value, TSSI, temporalism, rate of profit, Marx, MELT, Okishio
2000-06-26
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/2588/1/MPRA_paper_2588.pdf
Freeman, Alan (2000): Marxian debates on the falling rate of profit.
en
oai:mpra.ub.uni-muenchen.de:2618
2019-10-04T04:37:53Z
7374617475733D707562
7375626A656374733D42:4231:423134
7375626A656374733D42:4232:423234
7375626A656374733D42:4235:423531
7375626A656374733D42:4234:423430
7375626A656374733D41:4131
7375626A656374733D42:4231:423132
7375626A656374733D42:4230:423030
7375626A656374733D42:4235:423530
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/2618/
Value and Marx: why it matters
Freeman, Alan
B14 - Socialist ; Marxist
B24 - Socialist ; Marxist ; Sraffian
B51 - Socialist ; Marxian ; Sraffian
B40 - General
A1 - General Economics
B12 - Classical (includes Adam Smith)
B00 - General
B50 - General
This is the English version of ‘Valore e Marx: Perche sono importanti’ which appeared in Vasopollo, L (2002) (ed) ‘Un Vecchio Falso Problema: La Transformazione dei valori in prezzi nel Capital di Marx’, Roma: Laboratoria per la critica sociale.
It was presented at the May 2002 conference organised by the Laboratorio per la critica sociale in Rome.
It summarises the debate to this point on the temporal and simultaneous approaches to value and on the alleged inconsistencies in Marx’s approach.
Keywords: TSSI, MELT, value, Marx, price, profit rate, Okishio, non-equilibrium, equilibrium, money, sraffa
2002-05
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/2618/1/MPRA_paper_2618.pdf
Freeman, Alan (2002): Value and Marx: why it matters. Published in: Proteo No. 2001-2 (2002): pp. 52-61.
en
oai:mpra.ub.uni-muenchen.de:2619
2019-09-26T13:19:39Z
7374617475733D756E707562
7375626A656374733D42:4231:423134
7375626A656374733D42:4235
7375626A656374733D42:4231:423132
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7375626A656374733D42:4232:423234
7375626A656374733D42:4235:423531
7375626A656374733D42:4235:423530
7375626A656374733D42:4231:423133
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/2619/
Marx After Marx After Sraffa
Freeman, Alan
B14 - Socialist ; Marxist
B5 - Current Heterodox Approaches
B12 - Classical (includes Adam Smith)
B4 - Economic Methodology
B24 - Socialist ; Marxist ; Sraffian
B51 - Socialist ; Marxian ; Sraffian
B50 - General
B13 - Neoclassical through 1925 (Austrian, Marshallian, Walrasian, Stockholm School)
This paper was originally presented at a conference on value organized by the Laboratory for Social Change in Rome, which staged a debate on value theory involving Andrew Kliman, Alan Freeman, Mino Carchedi, Gary Mongiovi, Fabio Petri, Duncan Foley, and Ernesto Screpanti.
The paper was a contribution to this discussion. The most complete version was presented to the 2002 conference of the Middle East Technical University (METU) in Ankara, September 2002. This version was presented to the annual conference of the Association for Heterodox Economics (AHE) in July 2002.
The article contains an initial response to Gary Mongiovi’s critique of the TSSI presented at the Eastern Economic Association and subsequently printed in the Review of Radical Political Economy [Mongiovi, G (2002), Vulgar Economy in Marxian Garb: A Critique of Temporal Single System Marxism, paper to the 2002 conference of the Eastern Economic Association; Mongiovi, Gary. 2002. Vulgar Economy in Marxian Garb: A critique of temporal single-system Marxism, Review of Radical Political Economics 34:4, 393–416.]
Keywords: Value, Marx, Price, Money, Sraffa, Transformation, rate of profit, Okishio, TSSI, MELT, Temporal, Non-equilibrium, History of Economic Thought.
2002
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/2619/1/MPRA_paper_2619.pdf
Freeman, Alan (2002): Marx After Marx After Sraffa.
en
oai:mpra.ub.uni-muenchen.de:4010
2019-09-28T08:22:32Z
7374617475733D696E7072657373
7375626A656374733D42:4235:423530
7375626A656374733D44:4430:443031
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/4010/
Decision-Making: A Neuroeconomic Perspective
Hardy-Vallee, Benoit
B50 - General
D01 - Microeconomic Behavior: Underlying Principles
This article introduces and discusses from a philosophical point of view the nascent field of neuroeconomics, which is the study of neural mechanisms involved in decision-making and their economic significance. Following a survey of the ways in which decision-making is usually construed in philosophy, economics and psychology, I review many important findings in neuroeconomics to show that they suggest a revised picture of decision-making and ourselves as choosing agents. Finally, I outline a neuroeconomic account of irrationality.
2007-07
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/4010/1/MPRA_paper_4010.pdf
Hardy-Vallee, Benoit (2007): Decision-Making: A Neuroeconomic Perspective. Forthcoming in: Philosophy Compass
en
oai:mpra.ub.uni-muenchen.de:4665
2019-10-07T02:58:47Z
oai:mpra.ub.uni-muenchen.de:4828
2019-10-07T06:35:39Z
7374617475733D707562
7375626A656374733D46:4634:463430
7375626A656374733D42:4235:423530
7375626A656374733D4F:4F35:4F3533
7375626A656374733D43:4338:433832
7375626A656374733D42:4234:423430
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/4828/
Forensic Accounting: Hidden balance of payments of the Philippines
Beja, Edsel Jr.
F40 - General
B50 - General
O53 - Asia including Middle East
C82 - Methodology for Collecting, Estimating, and Organizing Macroeconomic Data ; Data Access
B40 - General
An examination of the available data between 1990 and 2005 reveals that the balance of payments of the Philippines does not record large amounts of international transactions. Unrecorded international transactions for the 16-year period amount to US$ 192 billion (in 1995 prices). The results suggest a serious problem in the government’s macroeconomic management of the Philippines, and expose a weak or weakening capacity in the governance of international transactions.
2006-11-25
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/4828/1/MPRA_paper_4828.pdf
Beja, Edsel Jr. (2006): Forensic Accounting: Hidden balance of payments of the Philippines. Published in: Loyola Schools Review , Vol. 6, (2007): pp. 1-14.
en
oai:mpra.ub.uni-muenchen.de:4830
2019-10-01T05:39:27Z
7374617475733D707562
7375626A656374733D46:4632:463230
7375626A656374733D42:4235:423530
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/4830/
Capital Flight and the Hollowing Out of the Philippine Economy in the Neoliberal Regime
Beja, Edsel Jr.
F20 - General
B50 - General
Capital flight is the movement of capital from a resource-scarce developing country to avoid social controls, and measured as net unrecorded capital outflow. Capital flight from the Philippines was $16 billion in the 1970s, $36 billion in the 1980s, and $43 billion in the 1990s. Indeed these figures are significant amounts of lost resources that could have been utilized in the country to generate additional output and jobs. Capital flight from the Philippines followed a revolving door process – that is, capital inflows were used to finance the capital outflows. This process became more pronounced with financial liberalization in the 1990s. With these results, we argue that capital flight resulted in the hollowing out of the Philippine economy and, more important, neoliberal policies underpinned the process.
2006-05
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/4830/1/MPRA_paper_4830.pdf
Beja, Edsel Jr. (2006): Capital Flight and the Hollowing Out of the Philippine Economy in the Neoliberal Regime. Published in: Kasarinlan , Vol. 1, No. 21 (May 2006): pp. 55-74.
en
oai:mpra.ub.uni-muenchen.de:5585
2019-09-30T17:57:35Z
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7375626A656374733D42:4235:423530
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7375626A656374733D42:4231:423132
7375626A656374733D41:4131
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/5585/
Valore e Marx: Perche sono importanti
Freeman, Alan
B50 - General
B00 - General
B14 - Socialist ; Marxist
B24 - Socialist ; Marxist ; Sraffian
B51 - Socialist ; Marxian ; Sraffian
B40 - General
B12 - Classical (includes Adam Smith)
A1 - General Economics
This is the Italian version of ‘Value and Marx: why it matters’ which appeared in Vasopollo, L (2002) (ed) ‘Un Vecchio Falso Problema: La Transformazione dei valori in prezzi nel Capital di Marx’, Roma: Laboratoria per la critica sociale.
It was presented at the May 2002 conference organised by the Laboratorio per la critica sociale in Rome.
It summarises the debate to this point on the temporal and simultaneous approaches to value and on the alleged inconsistencies in Marx’s approach.
Keywords: TSSI, MELT, value, Marx, price, profit rate, Okishio, non-equilibrium, equilibrium, money, sraffa
2002-05
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/5585/1/MPRA_paper_5585.pdf
Freeman, Alan (2002): Valore e Marx: Perche sono importanti. Published in: Proteo No. 2001-2 (2002): pp. 52-61.
it
oai:mpra.ub.uni-muenchen.de:5586
2019-09-27T10:23:46Z
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7375626A656374733D42:4235:423530
7375626A656374733D42:4230:423030
7375626A656374733D4F:4F31:4F3130
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/5586/
When Things Go Wrong: the Political Economy of Market Breakdown
Freeman, Alan
B50 - General
B00 - General
O10 - General
Prepublication version of ‘When things go wrong: the Political Economy of Market Breakdown’ in Westra; R and Alan Zuege (Eds) (2003) Value and the World Economy Today: Production; Finance and Globalization; pp91-118. London:MacMillan; ISBN: 1 40390 002 7
This paper constructs a theoretical framework for understanding what happens when markets break down. It argues that when this happens; the ‘invisible hand becomes visible’ and conscious agencies (classes; states; governments; etc) intervene in the economy. ‘External Intervention’ into the market is thus not an imposition on the market but a product of the market.
The paper grapples with what is arguably the most basic question in economics: are breakdown and recovery endogenous or exogenous? Do markets fall or are they pushed? Conversely; do they mend themselves; or does someone have to stick them back together?
The primary ‘finding’ of all dominant economic theories is that the market works: that breakdown is exogenous and recovery is endogenous.
I show that this finding arises from the shared starting point of these theories; the equilibrium or comparative static paradigm. This is equivalent to assuming that; the market works so perfectly that nothing needs to change.
It then becomes impossible to deduce endogenous market failure. This why is one of the primary shortcomings of mainstream economic theory is its inability to two-way causal links between political institutions and the market.
2003
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/5586/1/MPRA_paper_5586.pdf
Freeman, Alan (2003): When Things Go Wrong: the Political Economy of Market Breakdown. Published in: Westra; R and Alan Zuege (Eds) (2003) Value and the World Economy Today: Production; Finance and Globalization (2003): pp. 81-118.
en
oai:mpra.ub.uni-muenchen.de:5588
2019-09-28T07:05:30Z
7374617475733D756E707562
7375626A656374733D42:4235:423530
7375626A656374733D42:4230:423030
7375626A656374733D4F:4F31:4F3130
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/5588/
The Age of War: From World Market to World Conquest (English language version)
Freeman, Alan
B50 - General
B00 - General
O10 - General
This paper, presented at the Laboratori per la Critica Sociale organised by the
Centro Studi Transformazione Economico-Sociali (CESTES-PROTEO), is the
English language version of ‘The age of war: From world market to world conquest’, presented at the Forum on the Theoretical analysis of the Imperialism of the XXI Century, organised by the Laboratorio per la Critica Sociale del Centro Studi Trasformazioni Economico-Sociali (CESTES-PROTEO), Rome University La Sapienza, 12 April 2003.
It was also presented to the 5th Annual Conference of the Association for Heterodox Economics, Nottingham Trent University, 8-10 July, 2003.
The Italian version was entitled ‘L’età della guerra: dal mercato mondiale alla conquista del mondo’,
The paper argues that the world is entering a new age of war, a political consequence of Globalisation.
A supplementary file contains slides that accompanied a subsequent presentation of this paper at the University of Umea, Sweden, also in July 2003
2003-07
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/5588/1/MPRA_paper_5588.pdf
Freeman, Alan (2003): The Age of War: From World Market to World Conquest (English language version).
en
oai:mpra.ub.uni-muenchen.de:5589
2019-09-27T16:13:18Z
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7375626A656374733D42:4235:423530
7375626A656374733D42:4230:423030
7375626A656374733D4F:4F31:4F3130
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/5589/
The Inequality of Nations
Freeman, Alan
B50 - General
B00 - General
O10 - General
This is a prepublication version of an analysis of the world economy which appeared in ‘The Inequality of Nations’ in Freeman, A, and Boris Kagarlitsky (eds) (2004) The Politics of Empire: Globalisation in crisis. London: Pluto Press. ISBN: 0 74532 183 6.
It develops and presents rigorously much of the analysis of ‘The New world order and the failure of globalisation’ presented to the annual conference of the British International Studies Association in 2002. To this it adds a substantial analysis of inequality within the main continental blocs in the economy today.
It uses data published by the IMF’s World Economic Outlook team to assess the progress of inequality and grown since ‘globalisation’, understood as the period of intense financial deregulation and the creation of a world market in capital.
It establishes that over the period of globalisation world inequality, measured as the ratio of income per capita in the global south as a whole and the global north as a whole, has more than doubled, whilst growth has been largely static.
Inequality between the nations making up the ‘global south’ has however decreased rather than increased; thus the world economy retains, in a remarkably stable manner, the same characteristics it has possessed since 1914. It contains a bloc of rich nations containing about one fifth the population of the world, and the remainder, containing four-fifth the population, with inequality between the two blocs rising secularly in the long run.
The article argues that competition between advanced nations now takes place on a continental scale, a process driving European responses to the crisis of US hegemony, and that responses from within the global south can be expected to acquire also a continental dimension.
Documents containing charts and slides used to present the material to a seminar organised by the Norway Social Forum in Oslo, June 2003 may be obtained from the author
2004
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/5589/1/MPRA_paper_5589.pdf
Freeman, Alan (2004): The Inequality of Nations. Published in: Freeman, A, and Boris Kagarlitsky (eds) (2004) The Politics of Empire: Globalisation in crisis. London: Pluto Press. ISBN: 0 74532 183 6. No. 2004 (2004)
en
oai:mpra.ub.uni-muenchen.de:5590
2019-09-28T16:31:23Z
7374617475733D756E707562
7375626A656374733D42:4235:423530
7375626A656374733D42:4230:423030
7375626A656374733D42:4231:423134
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7375626A656374733D45:4533:453332
7375626A656374733D42:4232:423234
7375626A656374733D42:4231:423132
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https://mpra.ub.uni-muenchen.de/5590/
Confronting the Evidence: Marx's Historians on the Falling Profit Rate
Freeman, Alan
B50 - General
B00 - General
B14 - Socialist ; Marxist
B40 - General
E32 - Business Fluctuations ; Cycles
B24 - Socialist ; Marxist ; Sraffian
B12 - Classical (includes Adam Smith)
B51 - Socialist ; Marxian ; Sraffian
This article presents a detailed textual analysis of Marx’s actual account of the tendency of the rate of profit to fall and attempts to recover the initial logic of the analysis
It sets this against early discussion on Marx’s value theory and shows, in a non-mathematical manner, how a purely physical conception of the profit rate was substituted for the value profit rate, as a consequence of the interpretation of Marx’s value theory within a general equilibrium framework, introduced by Bortkiewicz and subsequently adopted by academic Marxism.
It demonstrates how the consistency of Marx’s logic emerges on the basis of a temporal interpretation of Marx’s value theory.
Presented to the 7th annual conference of the Association for Heterodox Economics, London, sessions on ‘Whig History in Economics and (re) interpretation of theory. City University, July 15-17 2005.
2004-07-15
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/5590/1/MPRA_paper_5590.pdf
Freeman, Alan (2004): Confronting the Evidence: Marx's Historians on the Falling Profit Rate.
en
oai:mpra.ub.uni-muenchen.de:6713
2019-09-29T00:59:53Z
7374617475733D707562
7375626A656374733D42:4235:423531
7375626A656374733D42:4234:423430
7375626A656374733D42:4231:423132
7375626A656374733D42:4230
7375626A656374733D42:4231:423134
7375626A656374733D41:4131
7375626A656374733D42:4235:423530
7375626A656374733D42:4232:423234
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/6713/
Between Two World Systems: A Response to David Laibman
Freeman, Alan
B51 - Socialist ; Marxian ; Sraffian
B40 - General
B12 - Classical (includes Adam Smith)
B0 - General
B14 - Socialist ; Marxist
A1 - General Economics
B50 - General
B24 - Socialist ; Marxist ; Sraffian
Prepublication version of article that appeared as Zarembka, P (ed) Economic Theory of Capitalism and its Crises, Research in Political Economy 17, pp241-48. Stanford, CT: JAI Press.
http://www.elsevier.com/wps/find/bookdescription.cws_home/621298/description#description
This article formed part of a four-way exchange on the rate of profit which appeared in Research in Political Economy in 1999 and 2000, between David Laibman, Duncan Foley, Andrew Kliman and Alan Freeman. This piece constituted Freeman’s response to an initial critique by Laibman of the Temporal Single System Interpretation (TSSI) of Marx’s value theory. Applying an alternative valuation to the TSSI, he shows that a rising rate of profit can be deduced where the TSSI finds a falling one; and concludes that temporalism cannot be responsible for TSS results. This is of course true: a falling value profit rate arises from the specific combination of temporalism and valuation by the magnitude of labour time. However Laibman accepts the most important conclusion of TSSI research, namely, it refutes Okishio’s theorem, according to which under no circumstances can the rate of profit fall with cost-saving technical change. Since SSI results exhibit such a circumstance, the theorem is false.
My response goes further to establish the precise conditions under which the value rate of profit falls: The maximum profit rate falls if the value invested, as a proportion of the value of accumulated capital, is greater than the rate of increase in living labour. The response also demonstrates that simultaneous valuation results in a violation of the principle that value can arise only from production, a principle preserved in the TSSI derivation of value.
1999-04
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/6713/1/MPRA_paper_6713.pdf
Freeman, Alan (1999): Between Two World Systems: A Response to David Laibman. Published in: Research in Political Economy No. 17 (April 1999): pp. 241-248.
en
oai:mpra.ub.uni-muenchen.de:6715
2019-09-26T22:05:50Z
7374617475733D707562
7375626A656374733D42:4235:423531
7375626A656374733D42:4234:423430
7375626A656374733D42:4231:423132
7375626A656374733D42:4230
7375626A656374733D42:4231:423134
7375626A656374733D41:4131
7375626A656374733D42:4235:423530
7375626A656374733D42:4232:423234
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/6715/
Two Concepts of Value, Two Rates of Profit, Two Laws of Motion
Freeman, Alan
Kliman, Andrew
B51 - Socialist ; Marxian ; Sraffian
B40 - General
B12 - Classical (includes Adam Smith)
B0 - General
B14 - Socialist ; Marxist
A1 - General Economics
B50 - General
B24 - Socialist ; Marxist ; Sraffian
Article that appeared as Zarembka, P (ed) Economic Theory of Capitalism and its Crises, Research in Political Economy 18, pp241-48. Stanford, CT: JAI Press.
(http://www.elsevier.com/wps/find/bookdescription.cws_home/621298/description#description)
Responds to debate initiated in Research in Political Economy 17
(http://www.elsevier.com/wps/find/bookdescription.cws_home/621907/description#description)
This article formed part of a four-way exchange on the rate of profit which appeared in Research in Political Economy 17 and 18 in 1999 and 2000, between David Laibman, Duncan Foley, Andrew Kliman and Alan Freeman. This piece constituted Freeman and Kliman’s response to the contributions of Foley and Laibman, themselves a response to our reactions to Laibman’s initial critique of the Temporal Single System Interpretation (TSSI) of Marx’s value theory.
Our response establishes that both Laibman and Foley concede the fundamental point in the debate: there exist circumstances under which the rate of profit falls under cost-saving technical change, refuting Okishio’s theorem which states that the rate of profit cannot fall on these presuppositions in any circumstances.
Our response assesses the reasons that, although Okishio’s theorem has been disproved, Marxist authors are unable or unwilling to acknowledge this fact. We dissect the faulty mathematical reasoning that lies behind the following notion: ‘the temporal rate of profit may fall, but it may also rise. Since it does not inevitably fall, Okishio’s theorem holds’. In fact, Okishio’s theorem asserts that the rate of profit may never fall. Therefore, mathematically, if a case is exhibited in which, under Okishio’s assumptions, the rate of profit does fall, the theorem is thereby disproved.
Our response then establishes the general conditions under which the rate of profit does, or does not, fall.
Keywords: TSSI, MELT, value, Marx, price, profit rate, Okishio, non-equilibrium, equilibrium, money
2000-04
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/6715/1/MPRA_paper_6715.pdf
Freeman, Alan and Kliman, Andrew (2000): Two Concepts of Value, Two Rates of Profit, Two Laws of Motion. Published in: Research in Political Economy No. 18 (April 2000): pp. 243-267.
en
oai:mpra.ub.uni-muenchen.de:6717
2019-09-28T09:26:37Z
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7375626A656374733D42:4235:423531
7375626A656374733D42:4234:423430
7375626A656374733D42:4231:423132
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7375626A656374733D42:4235:423530
7375626A656374733D42:4232:423234
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/6717/
Rejoinder to Duncan Foley and David Laibman
Kliman, Andrew
Freeman, Alan
B51 - Socialist ; Marxian ; Sraffian
B40 - General
B12 - Classical (includes Adam Smith)
B0 - General
B14 - Socialist ; Marxist
A1 - General Economics
B50 - General
B24 - Socialist ; Marxist ; Sraffian
Article that appeared as Zarembka, P (ed) Economic Theory of Capitalism and its Crises, Research in Political Economy 18, pp285-93. Stanford, CT: JAI Press.
(http://www.elsevier.com/wps/find/bookdescription.cws_home/621298/description#description)
Responds to debate initiated in Research in Political Economy 17
(http://www.elsevier.com/wps/find/bookdescription.cws_home/621907/description#description)
This article formed the final part of a four-way exchange on the rate of profit which appeared in Research in Political Economy 17 and 18 in 1999 and 2000, between David Laibman, Duncan Foley, Andrew Kliman and Alan Freeman. This piece constituted Kliman and Freeman’s final response to the debate around Laibman’s initial critique of the Temporal Single System Interpretation (TSSI) of Marx’s value theory.
Keywords: TSSI, MELT, value, Marx, price, profit rate, Okishio, non-equilibrium, equilibrium, money
2000-04
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/6717/1/MPRA_paper_6717.pdf
Kliman, Andrew and Freeman, Alan (2000): Rejoinder to Duncan Foley and David Laibman. Published in: Research in Political Economy No. 18 (April 2000): pp. 285-293.
en
oai:mpra.ub.uni-muenchen.de:6722
2019-09-26T09:26:07Z
7374617475733D707562
7375626A656374733D42:4235:423530
7375626A656374733D42:4230:423030
7375626A656374733D42:4231:423134
7375626A656374733D42:4232:423234
7375626A656374733D42:4235:423531
7375626A656374733D42:4234:423430
7375626A656374733D42:4231:423132
7375626A656374733D41:4131
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/6722/
Geld (Money)
Freeman, Alan
B50 - General
B00 - General
B14 - Socialist ; Marxist
B24 - Socialist ; Marxist ; Sraffian
B51 - Socialist ; Marxian ; Sraffian
B40 - General
B12 - Classical (includes Adam Smith)
A1 - General Economics
This is the English language version of the entry on ‘Money’ (‘Geld’) in the ‘Historisch Kritisch Wörterbuch des Marxismus’, a comprehensive dictionary of Marxist terminology being produced as an accompaniment to the Marx-Engels-Gesamt-Arbeite (Marx-Engels collected works), a comprehensive critical edition of the works of Marx and Engels
The German-language version is available separately on this site
‘Geld’, entry in Historisch Kritisch Wörterbuch des Marxismus, Band 5: Gegenöffentlichkeit–Hegemonialapparat. Hamburg: Argument-Verlag, ISBN 3-88619-435-3
2004-05
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/6722/1/MPRA_paper_6722.pdf
Freeman, Alan (2004): Geld (Money). Published in: Historisch Kritisch Wörterbuch des Marxismus, Band 5: Gegenöffentlichkeit–Hegemonialapparat. No. Band 5 (May 2004)
en
oai:mpra.ub.uni-muenchen.de:6724
2019-09-28T04:32:29Z
7374617475733D707562
7375626A656374733D42:4235:423530
7375626A656374733D42:4230:423030
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7375626A656374733D42:4231:423132
7375626A656374733D41:4131
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/6724/
Geld
Freeman, Alan
B50 - General
B00 - General
B14 - Socialist ; Marxist
B24 - Socialist ; Marxist ; Sraffian
B51 - Socialist ; Marxian ; Sraffian
B40 - General
B12 - Classical (includes Adam Smith)
A1 - General Economics
This is a prepublication version of the German language version of the entry on ‘Money’ (‘Geld’) in the ‘Historisch Kritisch Wörterbuch des Marxismus’, a comprehensive dictionary of Marxist terminology being produced as an accompaniment to the Marx-Engels-Gesamt-Arbeite (Marx-Engels collected works), a comprehensive critical edition of the works of Marx and Engels
The English-language version is available separately on this site
‘Geld’, entry in Historisch Kritisch Wörterbuch des Marxismus, Band 5: Gegenöffentlichkeit–Hegemonialapparat. Hamburg: Argument-Verlag, ISBN 3-88619-435-3
2004-05
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/6724/1/MPRA_paper_6724.pdf
Freeman, Alan (2004): Geld. Published in: Historisch Kritisch Wörterbuch des Marxismus, Band 5: Gegenöffentlichkeit–Hegemonialapparat. No. Band 5 (May 2004)
de
oai:mpra.ub.uni-muenchen.de:6743
2019-09-27T11:14:02Z
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7375626A656374733D42:4235:423531
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7375626A656374733D42:4235:423530
7375626A656374733D42:4232:423234
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https://mpra.ub.uni-muenchen.de/6743/
Value, Price of Production and Market Price
Freeman, Alan
B51 - Socialist ; Marxian ; Sraffian
B40 - General
B12 - Classical (includes Adam Smith)
B0 - General
B14 - Socialist ; Marxist
A1 - General Economics
B50 - General
B24 - Socialist ; Marxist ; Sraffian
This entry, submitted to Philip O’Hara’s Encyclopedia of Political Economy but not included in it, contrasts the temporal and simultaneist approaches to the formation of price and its relation to value.
Keywords: price, value, transformation, Marx, TSSI, non-equilibrium, history of economic thought
2000-04
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/6743/1/MPRA_paper_6743.pdf
Freeman, Alan (2000): Value, Price of Production and Market Price.
en
oai:mpra.ub.uni-muenchen.de:6959
2019-09-28T06:06:35Z
7374617475733D707562
7375626A656374733D44:4431:443131
7375626A656374733D5A:5A31:5A3130
7375626A656374733D42:4235:423530
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https://mpra.ub.uni-muenchen.de/6959/
Book Review to Tibor Scitovsky - "The Joyless Economy" (1976)
Reggiani, Tommaso
D11 - Consumer Economics: Theory
Z10 - General
B50 - General
B00 - General
Y30 - Book Reviews (unclassified)
Tibor Scitovsky has struggled over the years to give us a precise definition of "quality", but it has generally been related to "joy" in consumption. His book THE JOYLESS ECONOMY (1976), remains a major critique of modern and especially economic values. Based on "Happiness Paradox", in this essay, the author advised that we should spend our money on things that we will not adapt to ("stimulation good" or "relational good" , such a beautiful scenery or meeting good friends - things that can continually fascinate us and provide a degree of fulfillment) rather than wasting our time and money buying things which we get adapted to ("comfort good", such as a newer and fancier-looking sofa, etc. - the pleasure of which is temporary and fades with time). Certain types of consumption, he argues in this essay, are "joyless", others "joyful" and the difference between them is a composite of several things of which challenge, risk and a sense of accomplishment would be major factors. Scitovsky has extended his ideas into social critique: specialization has taken much of the joy out of work, he has argued, and consumption in "American way-of-life" society (more than any other) has placed far too great a stress on comfort and safety in consumption and living, thereby depriving consumption activities of their challenging, risky and difficult elements, i.e. "joy". The "cure" for a joyless society, Scitovsky maintains, is to "educate" our consumption so as to infuse it with those joyful elements. While Scitovsky's arguments may seem daring, he stands in good company: Thorstein Veblen, John Kenneth Galbraith and Robert Frank are but a handful of the many other prominent economists who stress the need to think carefully about the "qualitative" aspects of economic progress.
2008-01-01
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/6959/1/MPRA_paper_6959.pdf
Reggiani, Tommaso (2008): Book Review to Tibor Scitovsky - "The Joyless Economy" (1976). Published in: Aggiornamenti Sociali, vol. 01/2008 , Vol. Aggior, No. January (1 January 2008): pp. 69-71.
it
oai:mpra.ub.uni-muenchen.de:6965
2019-09-28T09:49:06Z
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7375626A656374733D42:4230:423030
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/6965/
John Maynard Keynes and Ludwig von Mises on Probability
van den Hauwe, Ludwig
B50 - General
B53 - Austrian
B40 - General
B49 - Other
C00 - General
B00 - General
The economic paradigms of Ludwig von Mises on the one hand and of John Maynard Keynes on the other have been correctly recognized as antithetical at the theoretical level, and as antagonistic with respect to their practical and public policy implications. Characteristically they have also been vindicated by opposing sides of the political spectrum. Nevertheless the respective views of these authors with respect to the meaning and interpretation of probability exhibit a closer conceptual affinity than has been acknowledged in the literature. In particular it is argued that in some relevant respects Ludwig von Mises´ interpretation of the concept of probability exhibits a closer affinity with the interpretation of probability developed by his opponent John Maynard Keynes than with the views on probability espoused by his brother Richard von Mises. Nevertheless there also exist significant differences between the views of Ludwig von Mises and those of John Maynard Keynes with respect to probability. One of these is highlighted more particularly: where John Maynard Keynes advocated a monist view of probability, Ludwig von Mises embraced a dualist view of probability, according to which the concept of probability has two different meanings each of which is valid in a particular area or context. It is concluded that both John Maynard Keynes and Ludwig von Mises presented highly nuanced views with respect to the meaning and interpretation of probability.
2007-03-12
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/6965/1/MPRA_paper_6965.pdf
van den Hauwe, Ludwig (2007): John Maynard Keynes and Ludwig von Mises on Probability.
en
oai:mpra.ub.uni-muenchen.de:7429
2019-09-26T19:31:05Z
7374617475733D756E707562
7375626A656374733D42:4235:423530
7375626A656374733D42:4235:423533
7375626A656374733D42:4234:423430
7375626A656374733D42:4234:423439
7375626A656374733D43:4330:433030
7375626A656374733D42:4230:423030
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/7429/
John Maynard Keynes and Ludwig von Mises on Probability
van den Hauwe, Ludwig
B50 - General
B53 - Austrian
B40 - General
B49 - Other
C00 - General
B00 - General
The economic paradigms of Ludwig von Mises on the one hand and of John Maynard Keynes on the other have been correctly recognized as antithetical at the theoretical level, and as antagonistic with respect to their practical and public policy implications. Characteristically they have also been vindicated by opposing sides of the political spectrum. Nevertheless the respective views of these authors with respect to the meaning and interpretation of probability exhibit a closer conceptual affinity than has been acknowledged in the literature. In particular it is argued that in some relevant respects Ludwig von Mises´ interpretation of the concept of probability exhibits a closer affinity with the interpretation of probability developed by his opponent John Maynard Keynes than with the views on probability espoused by his brother Richard von Mises. Nevertheless there also exist significant differences between the views of Ludwig von Mises and those of John Maynard Keynes with respect to probability. One of these is highlighted more particularly: where John Maynard Keynes advocated a monist view of probability, Ludwig von Mises embraced a dualist view of probability, according to which the concept of probability has two different meanings each of which is valid in a particular area or context. It is concluded that both John Maynard Keynes and Ludwig von Mises presented highly nuanced views with respect to the meaning and interpretation of probability.
2007-03-12
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/7429/1/MPRA_paper_7429.pdf
van den Hauwe, Ludwig (2007): John Maynard Keynes and Ludwig von Mises on Probability.
en
oai:mpra.ub.uni-muenchen.de:9816
2019-09-26T22:38:11Z
7374617475733D707562
7375626A656374733D41:4131:413133
7375626A656374733D42:4235:423530
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/9816/
Towards a new paradigm for economics
Zaman, Asad
A13 - Relation of Economics to Social Values
B50 - General
Current economic theory is mainly concerned with the factors which affect the wealth of nations. Issues of income distribution and elimination of poverty and deprivation are secondary. We suggest an alternative formulation which would make hunger and homelessness, and poverty in general, the central concern of economics and economists.
2005
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/9816/1/MPRA_paper_9816.pdf
Zaman, Asad (2005): Towards a new paradigm for economics. Published in: Journal of King Abdul Aziz University: Islamic Economics , Vol. 18, No. 2 (2005): pp. 49-59.
en
oai:mpra.ub.uni-muenchen.de:12802
2019-09-27T16:45:39Z
7374617475733D756E707562
7375626A656374733D46:4634:463430
7375626A656374733D46:4630:463030
7375626A656374733D46:4632:463230
7375626A656374733D46:4631:463130
7375626A656374733D4F:4F31:4F3130
7375626A656374733D42:4235:423530
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/12802/
Things are different when you open up: Economic openness, domestic economy, and income
Beja, Edsel
F40 - General
F00 - General
F20 - General
F10 - General
O10 - General
B50 - General
“Does economic openness increase income?” is retested using quantity measures of trade, finance, and domestic economic size, and the short answer is: “It de-pends”. The results show that Africa and the Americas lose from both trade and financial openness, while Asia gains from trade openness but loses from financial openness. The industrialized region benefits from both trade and financial open-ness. In all regions, the domestic base compensates for any adverse effects of economic openness. The overall experience of economies with openness can be enhanced with healthier external and domestic engagements. The case study on the Philippines finds that the country gains from trade and financial openness but not from the domestic base. In this case, economic progress is difficult because the gains from external engagement are wiped out by the losses from domestic economy disengagement.
2009-01-15
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/12802/1/MPRA_paper_12802.pdf
Beja, Edsel (2009): Things are different when you open up: Economic openness, domestic economy, and income.
en
oai:mpra.ub.uni-muenchen.de:14410
2019-09-29T03:06:01Z
7374617475733D756E707562
7375626A656374733D42:4235:423530
7375626A656374733D42:4230:423030
7375626A656374733D4F:4F31:4F3130
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/14410/
The present stage of globalisation
Freeman, Alan
B50 - General
B00 - General
O10 - General
This interview is a prepublication version of an article that appeared in the Turkish journal Praxis in September 2002. The article published answers to questions posed by the journal editors to Alan Freeman, Riccardo Bellofiore and Hugo Radice. In this article I have assembled my own responses, taken from the original transcript, to provide an article summarising my views on the stage of evolution of the world economy in 2002
2002
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/14410/1/MPRA_paper_14410.pdf
Freeman, Alan (2002): The present stage of globalisation.
en
oai:mpra.ub.uni-muenchen.de:14974
2019-10-03T06:44:52Z
7374617475733D707562
7375626A656374733D4D:4D31:4D3134
7375626A656374733D41:4131:413133
7375626A656374733D44:4436:443634
7375626A656374733D42:4235:423530
7375626A656374733D41:4131:413131
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/14974/
Recensione a Muhammad Yunus - "Un mondo senza povertà" (2008)
Reggiani, Tommaso
M14 - Corporate Culture ; Diversity ; Social Responsibility
A13 - Relation of Economics to Social Values
D64 - Altruism ; Philanthropy
B50 - General
A11 - Role of Economics ; Role of Economists ; Market for Economists
In the last two decades, free markets have swept the globe, bringing with them enormous potential for positive change. But traditional capitalism cannot solve problems like inequality and poverty, because it is hampered by a narrow view of human nature in which people are one-dimensional beings concerned only with profit.
In fact, human beings have many other drives and passions, including the spiritual, the social, and the altruistic. Welcome to the world of social business, where the creative vision of the entrepreneur is applied to today's most serious problems: feeding the poor, housing the homeless, healing the sick, and protecting the planet.
Creating a World Without Poverty tells the stories of some of the earliest examples of social businesses, including Yunus's own Grameen Bank. It reveals the next phase in a hopeful economic and social revolution that is already under way—and in the worldwide effort to eliminate poverty by unleashing the productive energy of every human being.
2009-04-01
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/14974/1/MPRA_paper_14974.pdf
Reggiani, Tommaso (2009): Recensione a Muhammad Yunus - "Un mondo senza povertà" (2008). Published in: ARETE' - Agenzia per le ONLUS No. vol. 1/2009 (1 April 2009): pp. 85-89.
it
oai:mpra.ub.uni-muenchen.de:15009
2019-09-30T16:34:56Z
7374617475733D707562
7375626A656374733D52:5231:523130
7375626A656374733D5A:5A31
7375626A656374733D4E:4E39:4E3930
7375626A656374733D42:4235:423530
7375626A656374733D4E:4E30:4E3030
7375626A656374733D52:5235:523530
7375626A656374733D48:4837:483730
7375626A656374733D4C:4C33:4C3338
7375626A656374733D42:4235:423532
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/15009/
Territorial development reconsidered
Sucháček, Jan
R10 - General
Z1 - Cultural Economics ; Economic Sociology ; Economic Anthropology
N90 - General, International, or Comparative
B50 - General
N00 - General
R50 - General
H70 - General
L38 - Public Policy
B52 - Institutional ; Evolutionary
Lamentations on societal and environmental developments become increasingly audible in our times. Currently, we can hear almost every day about reaching the balance in a very sensitive triangle economic sustainability-social sustainability-environmental sustainability. It is largely omitted that concepts of self-governance and self-government constitute one of greatest challenges and opportunities for truly sustainable development in our common future.
2008-12
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/15009/1/MPRA_paper_15009.pdf
Sucháček, Jan (2008): Territorial development reconsidered. Published in: (December 2008)
en
oai:mpra.ub.uni-muenchen.de:15157
2019-09-30T16:38:31Z
7374617475733D756E707562
7375626A656374733D44:4431:443131
7375626A656374733D42:4235:423530
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/15157/
Existence, continuity and utility representation of strictly monotonic preferences on continuum of goods commodity spaces
Hervés-Beloso, Carlos
Monteiro, Paulo Klinger
D11 - Consumer Economics: Theory
B50 - General
It is an easy task for most commodity spaces, to find examples of strictly monotonic preference relations. For example, in the space of bounded sequences of real numbers.. However, it is not easy for spaces like the space of bounded functions defined in the real interval [0, 1]. In this note we investigate the roots of this difficulty. We show that strictly monotonic preferences on the space of bounded function on any set K always exist. However, if K is uncountable no such preference is continuous and none of them have a utility representation.
2009-03-14
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/15157/1/MPRA_paper_15157.pdf
Hervés-Beloso, Carlos and Monteiro, Paulo Klinger (2009): Existence, continuity and utility representation of strictly monotonic preferences on continuum of goods commodity spaces.
en
oai:mpra.ub.uni-muenchen.de:16240
2019-09-29T00:11:01Z
7374617475733D756E707562
7375626A656374733D42:4235:423530
7375626A656374733D42:4235:423534
7375626A656374733D45:4536:453630
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/16240/
Employer of Last Resort Policy and Feminist Economics: Social Provisioning and Socialization of Investment
Zdravka, Todorova
B50 - General
B54 - Feminist Economics
E60 - General
The paper discusses the Employment of Last Resort (ELR) policy proposal that has emerged from Post Keynesian theory as an embodiment of what Keynes called “socialization of investment,” as well as an avenue for a social provisioning approach towards socialization of unpaid care labor. Intersections between Post Keynesian and feminist economics are delineated. The paper proposes avenues for input from feminist economics into formulation of an ELR policy, and raises questions about transformation of gender relations.
2009-04
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/16240/1/MPRA_paper_16240.pdf
Zdravka, Todorova (2009): Employer of Last Resort Policy and Feminist Economics: Social Provisioning and Socialization of Investment.
en
oai:mpra.ub.uni-muenchen.de:16550
2019-10-01T22:32:56Z
7374617475733D756E707562
7375626A656374733D46:4634:463430
7375626A656374733D46:4630:463030
7375626A656374733D46:4632:463230
7375626A656374733D46:4631:463130
7375626A656374733D4F:4F31:4F3130
7375626A656374733D42:4235:423530
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/16550/
Things are different when you open up: Economic openness, domestic economy, and income
Beja, Edsel Jr.
F40 - General
F00 - General
F20 - General
F10 - General
O10 - General
B50 - General
“Does economic openness increase income?” is retested using quantity measures of trade, finance, and domestic economic size, and the short answer is: “It de-pends”. The results show that Africa and the Americas lose from both trade and financial openness, while Asia gains from trade openness but loses from financial openness. The industrialized region benefits from both trade and financial open-ness. In all regions, the domestic base compensates for any adverse effects of economic openness. The overall experience of economies with openness can be enhanced with healthier external and domestic engagements. The case study on the Philippines finds that the country gains from trade and financial openness but not from the domestic base. In this case, economic progress is difficult because the gains from external engagement are wiped out by the losses from domestic economy disengagement.
2009-01-15
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/16550/1/MPRA_paper_16550.pdf
Beja, Edsel Jr. (2009): Things are different when you open up: Economic openness, domestic economy, and income.
en
oai:mpra.ub.uni-muenchen.de:16552
2019-09-27T16:49:48Z
7374617475733D756E707562
7375626A656374733D46:4634:463430
7375626A656374733D46:4630:463030
7375626A656374733D42:4235:423530
7375626A656374733D4F:4F35:4F3530
7375626A656374733D45:4531:453130
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/16552/
Things are different when you open up: Economic openness, domestic economy, and income
Beja, Edsel Jr.
F40 - General
F00 - General
B50 - General
O50 - General
E10 - General
“What is the contribution of economic openness and the domestic economy to income?” is tested using quantity measures of trade, finance, and domestic economic base. The short answer is: “It depends”. Africa and the Americas lose from both trade and financial openness. Asia gains from trade openness but not from financial openness. The industrialized region benefits from both trade and financial openness. In all regions, the domestic economic base compensates for any adverse effects of economic openness. The overall experience with openness could still be enhanced with healthier external and domestic engagements, especially with the latter increasing its relative role in economies. The case study on the Philippines finds that its economy gains from trade and financial openness but not from its domestic economic base. In this case, economic progress is difficult because the gains from external engagement are wiped out by the losses from domestic economy disengagement.
2009-08-01
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/16552/1/MPRA_paper_16552.pdf
Beja, Edsel Jr. (2009): Things are different when you open up: Economic openness, domestic economy, and income.
en
oai:mpra.ub.uni-muenchen.de:16553
2019-09-29T06:48:20Z
7374617475733D756E707562
7375626A656374733D46:4633:463334
7375626A656374733D4F:4F35:4F3533
7375626A656374733D4F:4F31:4F3130
7375626A656374733D48:4836:483630
7375626A656374733D42:4235:423530
7375626A656374733D4F:4F32:4F3230
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/16553/
The Philippines on debt row
Beja, Jr., Edsel
F34 - International Lending and Debt Problems
O53 - Asia including Middle East
O10 - General
H60 - General
B50 - General
O20 - General
Heavy indebtedness and debt service payments, indicated by debt magnitudes and shares to national budgets, revenues, or outputs, mean that spending for public infrastructure and basic services is crowded out, even as they entail more borrowings in order to timely meet debt obligations. The failure to reduce indebtedness, improve national revenues, and raise incomes has contributed to the economic decrepitude of the Philippines. Debt relief is neces-sary to pull the country out of such a state of affairs.
2009-08-01
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/16553/1/MPRA_paper_16553.pdf
Beja, Jr., Edsel (2009): The Philippines on debt row.
en
oai:mpra.ub.uni-muenchen.de:19169
2019-09-27T00:20:41Z
7374617475733D756E707562
7375626A656374733D4F:4F31:4F3130
7375626A656374733D42:4235:423530
7375626A656374733D47:4730:473031
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/19169/
Financial crises and cyclic development according to the approach of Paolo Sylos Labini
Corsi, Marcella
Guarini, Giulio
O10 - General
B50 - General
G01 - Financial Crises
In his “Le prospettive dell’economia mondiale” (“Prospects for the world economy”) of 2003 Paolo Sylos Labini analyses the real and financial factors of the American economy and expresses pessimistic forebodings on the future economic trends in the USA and other parts of the world which, in the light of the events occurring as from 2007, can now be seen to have been justified. The aim of this paper is to provide his ideas with a place in the present debate on the American financial crisis and, to this end, the paper is divided into three parts. To begin with we will delineate the approach taken by Paolo Sylos Labini in examining the links between the financial system and economic system, highlighting the classical, Schumpeterian and Keynesian elements contained in it. We will then turn the focus on the four key elements of financial crisis according to Sylos: income distribution, innovation, market forms and debt sustainability. Finally, we will recall some considerations by Sylos on the three themes central to the present debate on the American crisis, namely the rate of interest in monetary policy, the role of the managers, and expectations.
2009-09-20
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/19169/1/MPRA_paper_19169.pdf
Corsi, Marcella and Guarini, Giulio (2009): Financial crises and cyclic development according to the approach of Paolo Sylos Labini.
en
oai:mpra.ub.uni-muenchen.de:19431
2019-09-26T19:00:16Z
7374617475733D756E707562
7375626A656374733D4F:4F34:4F3433
7375626A656374733D42:4235:423530
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/19431/
Growth and institutions in Paolo Sylos Labini's thought
Corsi, Marcella
Guarini, Giulio
O43 - Institutions and Growth
B50 - General
According to Paolo Sylos Labini (1920-2005), it is vital for an economist to be acutely conscious of the responsibility to study society for the sake of promoting progress—the economic, social and civil progress of society—and not for personal interest. In his last book, Ahi serva Italia (2006), Sylos Labini spoke as a civic-minded economist to all those Italians who refuse to understand that respect for the rules is an absolute requirement for a market economy, and, in particular, that a market economy needs rules to defend the community against the unbridled expansion of positions of power. Within this analytical framework, our paper aims to discuss the role of institutions along different lines: the role of the market in the process of economic growth, public intervention in the economy and the process of institutional innovations.
2009-12-17
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/19431/2/MPRA_paper_19431.pdf
Corsi, Marcella and Guarini, Giulio (2009): Growth and institutions in Paolo Sylos Labini's thought.
en
oai:mpra.ub.uni-muenchen.de:19730
2019-09-26T11:46:29Z
7374617475733D707562
7375626A656374733D42:4235:423531
7375626A656374733D42:4235:423530
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/19730/
The French Regulation Approach and its Theory of Consumption
Mavroudeas, Stavros
B51 - Socialist ; Marxian ; Sraffian
B50 - General
This study criticises Regulation’s Consumption theory. First, it pinpoints the significance of consumption for Regulation. Then, it criticises it:
(a) its Value theory, by arguing that the regulationist conception of the value of labour-power and its theory of wage is theoretically and empirically unsound.
(b) Aglietta’s (1979) macroeconomic model of the relations between the two departments of production
(c) Regulation’s analysis of the 1929 crisis as underconsumptionist.
Additionally, it is shown that RA’s Consumption theory is instrumental for its trajectory towards post-modernism and the related abandonment of class analysis.
2003
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/19730/1/MPRA_paper_19730.pdf
Mavroudeas, Stavros (2003): The French Regulation Approach and its Theory of Consumption. Published in: Storia del Pensiero Economico No. 43 (2003)
en
oai:mpra.ub.uni-muenchen.de:19731
2019-10-09T16:40:57Z
7374617475733D707562
7375626A656374733D42:4235:423530
7375626A656374733D48:4830:483030
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/19731/
Comments on Ben Fine's paper 'Privatisation: Theory with Lessons from the UK'
Mavroudeas, Stavros
Tsoulfidis, Lefteris
B50 - General
H00 - General
Comments on a paper by B.Fine on the subject of Privatisation
1999
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/19731/1/MPRA_paper_19731.pdf
Mavroudeas, Stavros and Tsoulfidis, Lefteris (1999): Comments on Ben Fine's paper 'Privatisation: Theory with Lessons from the UK'. Published in: Contemporary Economic Theory (1999)
en
oai:mpra.ub.uni-muenchen.de:22171
2019-10-02T16:47:38Z
7374617475733D756E707562
7375626A656374733D41:4131
7375626A656374733D47:4733
7375626A656374733D47:4733:473333
7375626A656374733D44:4438:443834
7375626A656374733D44:4437:443730
7375626A656374733D44:4438
7375626A656374733D43:4337:433732
7375626A656374733D42:4235
7375626A656374733D44:4438:443831
7375626A656374733D42:4235:423530
7375626A656374733D44:4438:443832
7375626A656374733D43:4337:433730
7375626A656374733D43:4337
7375626A656374733D47:4730:473031
7375626A656374733D44:4430
7375626A656374733D44:4430:443033
7375626A656374733D44:4437
7375626A656374733D41:4131:413133
7375626A656374733D41:4131:413132
7375626A656374733D47:4730
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/22171/
Fragments on black swan: money, credit and finance in The Arcades Project of Walter Benjamin
Estrada, Fernando
A1 - General Economics
G3 - Corporate Finance and Governance
G33 - Bankruptcy ; Liquidation
D84 - Expectations ; Speculations
D70 - General
D8 - Information, Knowledge, and Uncertainty
C72 - Noncooperative Games
B5 - Current Heterodox Approaches
D81 - Criteria for Decision-Making under Risk and Uncertainty
B50 - General
D82 - Asymmetric and Private Information ; Mechanism Design
C70 - General
C7 - Game Theory and Bargaining Theory
G01 - Financial Crises
D0 - General
D03 - Behavioral Microeconomics: Underlying Principles
D7 - Analysis of Collective Decision-Making
A13 - Relation of Economics to Social Values
A12 - Relation of Economics to Other Disciplines
G0 - General
The main objective of this paper is to present a reading of The Arcades Project by Walter Benjamin in the context of the financial crisis, in particular, reflect from a few fragments of Benjamin's work appear to lie around a Black Swan. The recovery of the fragments of The Arcades seems appropriate at a time when the financial crisis should be taught as a deeper crisis. Walter Benjamin is placed beyond its time, with a powerful sense of observation worthy of emulation analytical.
2010-04
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/22171/1/MPRA_paper_22171.pdf
Estrada, Fernando (2010): Fragments on black swan: money, credit and finance in The Arcades Project of Walter Benjamin.
en
oai:mpra.ub.uni-muenchen.de:22182
2019-09-27T02:47:14Z
7374617475733D756E707562
7375626A656374733D41:4131
7375626A656374733D47:4733
7375626A656374733D47:4733:473333
7375626A656374733D44:4438:443834
7375626A656374733D44:4437:443730
7375626A656374733D44:4438
7375626A656374733D43:4337:433732
7375626A656374733D42:4235
7375626A656374733D44:4438:443831
7375626A656374733D42:4235:423530
7375626A656374733D44:4438:443832
7375626A656374733D43:4337:433730
7375626A656374733D43:4337
7375626A656374733D47:4730:473031
7375626A656374733D44:4430
7375626A656374733D44:4430:443033
7375626A656374733D44:4437
7375626A656374733D41:4131:413133
7375626A656374733D41:4131:413132
7375626A656374733D47:4730
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/22182/
Fragments on the black swan: money, credit and finance in The Arcades Project of Walter Benjamin
Estrada, Fernando
A1 - General Economics
G3 - Corporate Finance and Governance
G33 - Bankruptcy ; Liquidation
D84 - Expectations ; Speculations
D70 - General
D8 - Information, Knowledge, and Uncertainty
C72 - Noncooperative Games
B5 - Current Heterodox Approaches
D81 - Criteria for Decision-Making under Risk and Uncertainty
B50 - General
D82 - Asymmetric and Private Information ; Mechanism Design
C70 - General
C7 - Game Theory and Bargaining Theory
G01 - Financial Crises
D0 - General
D03 - Behavioral Microeconomics: Underlying Principles
D7 - Analysis of Collective Decision-Making
A13 - Relation of Economics to Social Values
A12 - Relation of Economics to Other Disciplines
G0 - General
The main objective of this paper is to present a reading of The Arcades Project by Walter Benjamin in the context of the financial crisis, in particular, reflect from a few fragments of Benjamin's work appear to lie around a Black Swan. The recovery of the fragments of The Arcades seems appropriate at a time when the financial crisis should be taught as a deeper crisis. Walter Benjamin is placed beyond its time, with a powerful sense of observation worthy of emulation analytical.
2010-04
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/22182/1/MPRA_paper_22182.pdf
Estrada, Fernando (2010): Fragments on the black swan: money, credit and finance in The Arcades Project of Walter Benjamin.
en
oai:mpra.ub.uni-muenchen.de:23231
2019-10-02T19:18:04Z
7374617475733D756E707562
7375626A656374733D46:4632:463230
7375626A656374733D43:4338:433832
7375626A656374733D4F:4F35:4F3533
7375626A656374733D42:4235:423530
7375626A656374733D4F:4F35:4F3537
7375626A656374733D45:4530:453031
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/23231/
Balance of payments consistent unreported flows
Beja, Edsel Jr.
F20 - General
C82 - Methodology for Collecting, Estimating, and Organizing Macroeconomic Data ; Data Access
O53 - Asia including Middle East
B50 - General
O57 - Comparative Studies of Countries
E01 - Measurement and Data on National Income and Product Accounts and Wealth ; Environmental Accounts
The paper develops a Balance of Payments (BOP)-consistent procedure for estimating unreported flows. Using data between 1990 and 2007, total unreported flows of selected Asian countries is estimated at $4.7 trillion, or more than 80% of the countries’ 2007 total gross domestic product. Results reveal that unreported flows increase with reported and accumulated unreported flows. Financial depth and governance of the real sector decrease unreported flows, whereas economic growth and weakness in the governance of reported flows increase unreported flows. Results also reveal that unbalanced financial and real sector development contributes to the unreported flows. Lastly, the paper argues that there is an opportunity to reverse the situation through a judicious application of capital flow and trade flow management techniques and development and improvement in capacity, including governance, to internalize resources and converting them into desired outcomes.
2010-03-27
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/23231/1/MPRA_paper_23231.pdf
Beja, Edsel Jr. (2010): Balance of payments consistent unreported flows.
en
oai:mpra.ub.uni-muenchen.de:25080
2019-09-28T05:27:56Z
7374617475733D756E707562
7375626A656374733D46:4630:463030
7375626A656374733D42:4231:423134
7375626A656374733D42:4235:423530
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/25080/
Greece and the EU: capitalist crisis and imperialist rivalries
Mavroudeas, Stavros
F00 - General
B14 - Socialist ; Marxist
B50 - General
This paper studies the relationship between Greek capitalism and the European Union in the light of the recent developments (i.e. the current global crisis and the fiscal and debt crisis of Greece). The first part analyses the turbulent historical course of Greek capitalism and its passage from phases of development to crises and waves of capitalist restructuring. In particular, it pinpoints its status as a second-generation middle-range capitalism with limited imperialist abilities. The second part analyses the position of Greek capitalism within the European imperialist bloc and the advantages but also the dangers stemming from its participation in it. It focuses especially on the waves of capitalist restructuring inaugurated after the 1973 crisis and their concomitant results and problems. The third part focuses on the current global crisis and how it has been expressed in Greece. It is depicted as a twin crisis, i.e. a combination of (a) the current global crisis (a crisis of overaccumulation of capital caused by the falling tendency of the rate of profit), with (b) particular Greek structural problems (most of them derived from its participation in the European imperialist bloc). The last part concludes with the proposal for a radical alternative to the policies of the EU and the Greek bourgeoisie. The main pillar of this proposal is the disengagement from the European imperialist integration process and the radical restructuring of the Greek economy towards a process of socialist transition.
2010-09-10
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/25080/1/MPRA_paper_25080.pdf
Mavroudeas, Stavros (2010): Greece and the EU: capitalist crisis and imperialist rivalries.
en
oai:mpra.ub.uni-muenchen.de:27615
2019-10-02T10:31:35Z
7374617475733D756E707562
7375626A656374733D42:4235:423530
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/27615/
On the Nature of Knowledge: An evolutionary perspective
Hanappi, Hardy
B50 - General
Knowledge comes in two opposed forms – as structural property and as a process. Their interaction - in the time dimension as well as along a logical dimension - characterizes the evolution of knowledge.
Knowledge only works, i.e. evolutes, via its presence in carrier media; be it books, hard disks or human brains. Embedding specifications and development of carrier media in an understanding of knowledge evolution is a pivotal step towards an understanding of what could be considered as progress in human societies. Indeed the impact of the ICT revolution of the last decades is now just only surfacing; it will show how important scientific advance in this field is.
Knowledge comes in pieces, in units of something that could be called language (in a wider sense). As an over boarding science of linguistics points out these pieces are organized, they form an evolutionary network. The opposing network element types, nodes and (directed) links, reflect the above mentioned opposed forms. In a sense language still is a natural phenomenon, one that provides knowledge about nature. Nature as process as well as natural structure comes into perspective as knowledge.
The paper discusses these three aspects and will position them relative to major scientific contributions from various disciplines. In a final conclusion the consequences for the methodology of evolutionary economics will be drawn.
2008-06-30
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/27615/1/MPRA_paper_27615.pdf
Hanappi, Hardy (2008): On the Nature of Knowledge: An evolutionary perspective.
en
oai:mpra.ub.uni-muenchen.de:27636
2019-09-28T15:30:11Z
7374617475733D756E707562
7375626A656374733D42:4235:423531
7375626A656374733D42:4235:423530
7375626A656374733D42:4235
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/27636/
Social surplus approach and heterodox economics
Lee, Frederic
Jo, Tae-Hee
B51 - Socialist ; Marxian ; Sraffian
B50 - General
B5 - Current Heterodox Approaches
Given the emphasis on social provisioning in heterodox economics, two of its central theoretical organizing principles are the concepts of the total social product and the social surplus. This appears to link heterodox economics to the social surplus approach associated with the classical economists and currently with Sraffian economists. However, heterodox economics connects agency with the social surplus and the social product, which the Sraffians reject as they take the level and composition of the social product as given. Therefore the different theoretical approach regarding the social surplus taken in heterodox economics may generate a different but similar way of theorizing about a capitalist economy. To explore this difference is the aim of the paper. Thus the paper is divided into four parts and a conclusion. In the first section social provisioning and the social surplus is introduced. In the second section, the Sraffian social surplus approach is delineated while in the third section the heterodox social surplus approach is delineated. In the fourth section of the paper, some of the implications emerging from the differences between the two approaches are discussed. The paper is concluded in the final section.
2010-10
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/27636/1/MPRA_paper_27636.pdf
Lee, Frederic and Jo, Tae-Hee (2010): Social surplus approach and heterodox economics.
en
oai:mpra.ub.uni-muenchen.de:27807
2019-09-30T16:51:40Z
7374617475733D756E707562
7375626A656374733D44:4430:443033
7375626A656374733D42:4235:423530
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/27807/
An Experimental Investigation on Learning and Context Effects
Novarese, Marco
Chelini, Chiara
Spada, Anna
Ambrosino, Angela
Trigona, Carla
D03 - Behavioral Microeconomics: Underlying Principles
B50 - General
This paper revisited Gregory Bateson’s theory of hierarchical learning through an experiment testing the existence of context effect and learning spill-over in two following games: a coordination game and a two-step battle-of-the sexes. The first part of the experiment is seen as a kind of training period. The different treatments of the coordination game are, in fact, designed so to reinforce different representations of the games, requiring to look at different aspects of a series of images shown in the screen. The second game allows testing if differences in training determine different behaviors in a same situation. Our experiment suggests that the preliminary training influences how the second game is perceived. While the incentive structure of the battle-of-the sexes is not identical to the coordination game, the presence of an image determines a different kind of context similarity with the previous one.
2010-12-27
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/27807/1/MPRA_paper_27807.pdf
Novarese, Marco and Chelini, Chiara and Spada, Anna and Ambrosino, Angela and Trigona, Carla (2010): An Experimental Investigation on Learning and Context Effects.
en
oai:mpra.ub.uni-muenchen.de:27905
2019-09-28T21:12:45Z
7374617475733D707562
7375626A656374733D42:4230
7375626A656374733D42:4235:423530
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/27905/
From outer circle to center stage: The maturation of heterodox economics
Goodwin, Neva
Harvey (eds), John
Garnett (eds), Rob
B0 - General
B50 - General
This is chapter 2 of the book "Future Directions in Heterodox Economics" by John T. Harvey and Robert F. Garnett, Jr., Editors.
The inner circle of neoclassical economics has limited its horizons, increasing the scope for heterodox economists to claim ever more of the most important issues. Two values contend for primacy: being scientific, and being relevant. These need not—and should not—be in conflict; an important goal for economics in the future is to bring them into better harmony.
2008
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/27905/1/MPRA_paper_27905.pdf
Goodwin, Neva and Harvey (eds), John and Garnett (eds), Rob (2008): From outer circle to center stage: The maturation of heterodox economics. Published in: (2008): pp. 27-52.
en
oai:mpra.ub.uni-muenchen.de:28012
2019-09-27T00:14:28Z
7374617475733D707562
7375626A656374733D45:4531:453132
7375626A656374733D50:5031:503137
7375626A656374733D42:4235:423530
7375626A656374733D45:4532:453230
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/28012/
A model of Cognitive Capitalism: a preliminary analysis
Fumagalli, Andrea
Lucarelli, Stefano
E12 - Keynes ; Keynesian ; Post-Keynesian
P17 - Performance and Prospects
B50 - General
E20 - General
The aim of this paper is to present a first theoretical macro-modelling of cognitive capitalism, by utilizing the French regulation theory approach. With regard to the supply side analysis, we shall emphasize the role played by productivity dynamics: it is mainly affected by two types of dynamics: scale economics, based on learning processes and network activity. Turning to demand-side aspects, aggregate demand takes in account also the role played by distribution effects of financial markets, which operates as a distorsive income multiplier. As, on the one side, it depends upon the trade-off between learning processes diffusion and intellectual property rights and, on the other, upon income polarization (due to precariousness and limited access to capital gains) and demand growth stability. The stability of the system cannot be guaranteed. The need for new rules concerning income distribution process (i.e. basic income policy) will be taken in consideration.
2007
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/28012/1/MPRA_paper_28012.pdf
Fumagalli, Andrea and Lucarelli, Stefano (2007): A model of Cognitive Capitalism: a preliminary analysis. Published in: European Journal of Economic and Social Systems , Vol. 20, No. 1 (2007): pp. 117-133.
en
oai:mpra.ub.uni-muenchen.de:28224
2019-09-26T21:11:04Z
7374617475733D756E707562
7375626A656374733D45:4536:453632
7375626A656374733D42:4235:423530
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/28224/
Wake up economists! - Currency-issuing central governments have no budget constraint
Lawn, Philip
E62 - Fiscal Policy
B50 - General
Abstract: Despite what mainstream economists preach, currency-issuing central governments have no budget constraint. It is therefore incumbent upon them to use their unique spending and taxing powers to achieve the broader goal of sustainable development. Their failure to do so has meant that nations have fallen well short of realising their full potential. Rather than accept the neo-liberal myth that ‘small government is best’, the citizens of a nation should welcome the central-government’s responsible use of their unique spending and taxing powers to provide sufficient public goods and critical infrastructure, achieve and maintain full employment, resolve critical social and environmental concerns, and meet the requirements of an aging population. Should central governments fail in their responsibility to prudently use their unique powers, public disapproval is best registered through the ballot box, not through degenerative debates that distort the facts about the operation of a modern, fiat-currency economy.
2011-01-05
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/28224/1/MPRA_paper_28224.pdf
Lawn, Philip (2011): Wake up economists! - Currency-issuing central governments have no budget constraint.
en
oai:mpra.ub.uni-muenchen.de:28366
2019-09-26T09:15:01Z
7374617475733D756E707562
7375626A656374733D45:4536:453632
7375626A656374733D45:4534:453432
7375626A656374733D45:4535:453538
7375626A656374733D42:4235:423530
7375626A656374733D42:4232:423235
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/28366/
Money creation and control from Islamic perspective
Hasan, Zubair
E62 - Fiscal Policy
E42 - Monetary Systems ; Standards ; Regimes ; Government and the Monetary System ; Payment Systems
E58 - Central Banks and Their Policies
B50 - General
B25 - Historical ; Institutional ; Evolutionary ; Austrian
This paper deals with familiar facts in monetary economics from an unfamiliar angle. It argues that it is not factual to regard the legal tender money and bank credit as of different genus: they work in tandem to the same ends in an economy, conventional or Islamic. Also, it does not matter what serves as money – solid gold or flimsy paper – for keeping its value stable; only the blind would argue that staff is indispensable for walking. Money is just an instrument: it was never nor can ever be classified into Islamic and non-Islamic. What it does – good or bad – depends on how we use it. Money does not generate crises; its mismanagement does. It follows that the refuge the world is searching today from recurring financial crises does not lie in money substance: history testifies that national economies could not remain turmoil-free during the centuries of the yellow metal sway over the monetary scene. The paper concludes that it is the human factor that has been the source of good or evil for mankind including money matters. And the quality of human factor true religion can alone improve: morality without faith is rudderless.
2011-01-23
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/28366/1/MPRA_paper_28366.pdf
Hasan, Zubair (2011): Money creation and control from Islamic perspective.
en
oai:mpra.ub.uni-muenchen.de:28498
2019-09-26T18:57:45Z
7374617475733D756E707562
7375626A656374733D45:4533:453332
7375626A656374733D45:4531:453132
7375626A656374733D42:4235:423530
7375626A656374733D45:4534:453434
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/28498/
Systemic financial fragility and the monetary circuit: a stock-flow consistent approach
Marco, Passarella
E32 - Business Fluctuations ; Cycles
E12 - Keynes ; Keynesian ; Post-Keynesian
B50 - General
E44 - Financial Markets and the Macroeconomy
In the last few years, a number of scholars has referred to the crop of contributions of Hyman P. Minsky as required readings to understanding the tendency of the capitalist economies to fall into recurring crises. The so-called ‘financial instability hypothesis’ of Minsky relies, however, on very disputed assumptions. Moreover, Minsky’s analysis of capitalism must be updated on the basis of the deep changes which, during the last three decades, have concerned the world economy. In order to overcome these theoretical difficulties, section 2 of the paper deals with the analytical structure of the financial instability theory, showing why this latter cannot be regarded as a general theory of the business cycle. Sections 3, 4 and 5 deal with a simplified, but consistent, re-formulation of some of the most disputed aspects of Minsky’s theory by cross-breeding it with inputs from the ‘Circuitist’ approach and the current Post Keynesian literature. In sections 6 and 7 we analyze the impact of both capital-asset inflation and consumer credit on the financial ‘soundness’ of the economy, within a simplified stock-flow consistent monetary circuit model. Some concluding remarks are provided in the last part of the paper (section 8).
2011-01-28
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/28498/1/MPRA_paper_28498.pdf
Marco, Passarella (2011): Systemic financial fragility and the monetary circuit: a stock-flow consistent approach.
en
oai:mpra.ub.uni-muenchen.de:28499
2019-09-27T12:51:27Z
7374617475733D756E707562
7375626A656374733D45:4533:453332
7375626A656374733D45:4531:453132
7375626A656374733D42:4235:423530
7375626A656374733D45:4534:453434
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/28499/
A simplified stock-flow consistent dynamic model of the systemic financial fragility in the 'New Capitalism'
Marco, Passarella
E32 - Business Fluctuations ; Cycles
E12 - Keynes ; Keynesian ; Post-Keynesian
B50 - General
E44 - Financial Markets and the Macroeconomy
In the last few years, many financial analysts and heterodox economists (but even some ‘dissenters’ among orthodox economists) have referred to the contribution of Hyman P. Minsky as fundamental to understanding the current crisis. However, it is well-known that the traditional formulation of Minsky’s ‘financial instability hypothesis’ shows serious internal logical problems. Furthermore, Minsky’s analysis of capitalism must be updated on the basis of the deep changes which, during the last three decades, have concerned the world economy. In order to overcome these theoretical and empirical troubles, this paper, first, introduces the reader to the ‘mechanics’ of the financial instability theory, according to the formulation of the traditional Minskian literature (section 2). Second, it shows ‘why’ Minsky’s theory cannot be regarded as a general theory of the business cycle (section 3). Third, the paper attempts to supply a simplified, but consistent, re-formulation of Minsky’s theory by inter-breeding it with inputs coming from the ‘New Cambridge’ theories and the current ‘formal Minskian literature’. The aim of this is to analyze the impact of both capital-asset inflation and consumer credit on the financial ‘soundness’ of the non-financial business sector (sections 4-7). Some concluding remarks are provided in the last part of the paper (section 8).
2011-01-19
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/28499/1/MPRA_paper_28499.pdf
Marco, Passarella (2011): A simplified stock-flow consistent dynamic model of the systemic financial fragility in the 'New Capitalism'.
en
oai:mpra.ub.uni-muenchen.de:28862
2019-09-27T08:46:33Z
7374617475733D756E707562
7375626A656374733D42:4231:423130
7375626A656374733D44:4435:443533
7375626A656374733D42:4233:423331
7375626A656374733D41:4132:413230
7375626A656374733D42:4235:423530
7375626A656374733D42:4232:423232
7375626A656374733D41:4131:413130
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/28862/
Money and Keynesian Uncertainty
Lucarelli, B.
B10 - General
D53 - Financial Markets
B31 - Individuals
A20 - General
B50 - General
B22 - Macroeconomics
A10 - General
Keynes’s theory of a monetary economy and his liquidity preference theory of investment will be examined in order to highlight the essential properties of money under the conditions of uncertainty, which inevitably prefigures the existence of involuntary unemployment and could – within a laissez faire, deregulated financial system – induce phases of endemic financial instability and crises.
2010-06-26
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/28862/1/MPRA_paper_28862.pdf
Lucarelli, B. (2010): Money and Keynesian Uncertainty.
en
oai:mpra.ub.uni-muenchen.de:28888
2019-09-28T20:30:52Z
7374617475733D756E707562
7375626A656374733D42:4235:423531
7375626A656374733D42:4230
7375626A656374733D42:4231
7375626A656374733D42:4235:423530
7375626A656374733D42:4231:423135
7375626A656374733D41:4131:413131
7375626A656374733D41:4131:413132
7375626A656374733D42:4235:423533
7375626A656374733D41:4131:413134
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/28888/
The Making of a Good Society: Economic Freedom, Instrumentalism, and Government Control
Murray, Michael/ M J
B51 - Socialist ; Marxian ; Sraffian
B0 - General
B1 - History of Economic Thought through 1925
B50 - General
B15 - Historical ; Institutional ; Evolutionary
A11 - Role of Economics ; Role of Economists ; Market for Economists
A12 - Relation of Economics to Other Disciplines
B53 - Austrian
A14 - Sociology of Economics
The article discusses the incompatibility of promoting individual interests of capitalists and workers with the promotion of macroeconomic goals of society. The article implements the ``instrumental method'' developed by Adolph Lowe, and articulates the separation of microeconomic goals with macroeconomic objectives. Using full employment as a case study, the article articulates the proper role for government in achieving and maintaining full employment in a capitalist society. Further it is seen that such an approach also promotes the self interests of capitalists. The approach taken in this article offers an alternative to the failed policies of neoliberalism.
2011-02-14
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/28888/1/MPRA_paper_28888.pdf
Murray, Michael/ M J (2011): The Making of a Good Society: Economic Freedom, Instrumentalism, and Government Control.
en
oai:mpra.ub.uni-muenchen.de:29422
2019-09-28T21:14:59Z
7374617475733D756E707562
7375626A656374733D4A:4A30:4A3038
7375626A656374733D42:4235:423530
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/29422/
The UK Future Jobs Fund: Labour’s adoption of the job guarantee principle
Ali, Tanweer
J08 - Labor Economics Policies
B50 - General
This paper examines the development of employment policy in the United Kingdom leading to the creation of the Young Person’s Guarantee and its main component, the Future Jobs Fund. Past public-sector direct employment schemes, including those associated with the workfare model, had been discredited as ineffective across the OECD. In numerous countries, however, newer job creation schemes were implemented from the 1990s, aimed at addressing some of the shortcomings of earlier projects, and utilizing the growth of smaller community-based projects – the Intermediate Labour Markets, or ILMs. Whilst there was no strategic policy commitment to demand-led active labour market policy in the UK until recent years, a network of ILMs came into existence, and much of the funding for these small-scale local projects came from the government. With the onset of the current economic downturn, and the substantial rise in cyclical unemployment, policy-makers more closely examined options for a demand-led strategy. Although ILMs had not been created with a view to forming part of an ‘employer of last resort’ policy, and were generally directed at very specific groups, the potential of these schemes to form part of a wider national strategy was clearly seen. In 2009 the government announced a job guarantee for all young people, primarily through the Future Jobs Fund. This initiative was inspired by ‘employer of last resort’ (or ‘job guarantee’) concept and the work of Hyman Minsky, and the intention was to extend it over time. Although the Future Jobs Fund was scrapped in May 2010 following a change of government in the UK, it incorporates the lessons of past policy failures, representing a bold step in active labour market policy – and may form a model for reviving demand-led employment policy.
2011-01-10
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/29422/1/MPRA_paper_29422.pdf
Ali, Tanweer (2011): The UK Future Jobs Fund: Labour’s adoption of the job guarantee principle.
en
oai:mpra.ub.uni-muenchen.de:29424
2019-09-28T15:42:29Z
7374617475733D756E707562
7375626A656374733D42:4235:423530
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/29424/
The Survival of the Fattest. Evolution of needs, lust and social value in a long-run perspective
Hanappi, Hardy
B50 - General
As recent data on average weight of human individuals in OECD countries vividly documents the primary metabolism of human individuals, e.g. physical reproduction, already produces deteriorating results. The concept of needs in the sense of desires for primary reproduction necessities has to be re-conceptualized.
What has been substituted for the power of needs was the desire for lust: Consumers are offered objects for which they subjectively should develop a substitute of an objective need, namely lust to consume. While the former concept (needs) has a physiologically rather limited range of extension, the latter one enables an evolutionary expanding dynamic with no evident limitation in sight. It is this contradiction that inspired the question posed in the title of this paper. To formulate it less metaphorical: If the demand side of the evolutionary development of modern societies is concentrating more and more on the emergence of goods and services that are independent of the primary metabolism of humans, will there be a feedback on this primary metabolism that endangers its further processing?
In hindsight the history of economic thought can be interpreted as providing answers to this type of questions in the form of theories of social values. A common denominator of these theories – perhaps the smallest one – is the contention that a model of the mentioned contradiction has to incorporate a systemic valuation system. Activities of members of societies should be regulated by a superimposed and commonly understood mechanism. While early contributions favored control by a set of direct behavioral rules, a command list, authors since Adam Smith in one or the other way refer to indirect regulation of economic activity via price structures. Note that Smith’s argument concerning ‘private vices becoming public benefits’ already related a non-metabolic motive, the lust for profit, with the metabolic notion of social welfare. Smith preaches this contradiction as moral philosophy. Karl Marx puts Smith’s observation in historical perspective; the productivity increasing capitalist system will be a necessary but finite episode in human history. And he adds an important dimension: The contradiction between private motives and welfare will work only temporarily and will produce another social contradiction, the one between exploiters and exploited. This new amendment explains the central role of Marx’ labor theory of value as a regulation device for the emergence of new contradictions. After Marx two strands of economic theory stand out as cornerstones of theories of social value: Jevon’s price theory and Schumpeter’s price-breakers theory. The former managed to establish itself as mainstream economics till today; the latter – in a self-referential way – seems to re-appear again and again as subversive swarming of theory innovators.
2004-11-01
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/29424/1/MPRA_paper_29424.pdf
Hanappi, Hardy (2004): The Survival of the Fattest. Evolution of needs, lust and social value in a long-run perspective.
en
oai:mpra.ub.uni-muenchen.de:29642
2019-09-26T15:05:56Z
7374617475733D707562
7375626A656374733D4E:4E34:4E3435
7375626A656374733D4F:4F35:4F3533
7375626A656374733D41:4131:413132
7375626A656374733D42:4235:423530
7375626A656374733D50:5035:503530
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/29642/
Neoliberalism as Liberation: The Statehood Program and the Remaking of the Palestinian National Movement
Khalidi, Raja J.
Samour, Sobhi
N45 - Asia including Middle East
O53 - Asia including Middle East
A12 - Relation of Economics to Other Disciplines
B50 - General
P50 - General
The Palestinian statehood-by-2011 program, framed through neoliberal institution building, redefines and diverts the Palestinian liberation struggle. Focusing on its economic aspects, and in particular the underlying neoliberal thought that goes beyond narrow economic policy applications, this essay argues that the program cannot succeed either as the midwife of independence or as a strategy for Palestinian economic development. Its weaknesses, the authors contend, derive not only from
neoliberalism’s inability to deliver sustainable and equitable economic growth worldwide, but also because neoliberal “governance” under occupation, however “good,” cannot substitute for the broader struggle for national rights nor ensure the Palestinian right to development.
2010-11-30
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/29642/1/MPRA_paper_29642.pdf
Khalidi, Raja J. and Samour, Sobhi (2010): Neoliberalism as Liberation: The Statehood Program and the Remaking of the Palestinian National Movement. Published in: Journal of Palestine Studies , Vol. XL, No. No. 2 (Winter 2011) (February 2011): pp. 6-25.
en
oai:mpra.ub.uni-muenchen.de:29718
2019-09-26T16:28:41Z
7374617475733D756E707562
7375626A656374733D42:4235:423530
7375626A656374733D41:4131:413130
7375626A656374733D51:5135:513534
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/29718/
Economic Doctrines and Approaches to Climate Change Policy
Atkinson, Robert D.
Hackler, Darrene
B50 - General
A10 - General
Q54 - Climate ; Natural Disasters and Their Management ; Global Warming
In climate change, as in all policy issues, economic philosophy has a significant influence on how people view both the problems and the solutions. For the first time, ITIF surveys four dominant schools of economic thought and analyzes how adherents approach policy options for climate change and energy policy. With climate change and major energy legislation stalled, maybe it is time to put aside fixed philosophical notions and take a practical look on ways to address climate change in an economically feasible way. The report reviews the principles and goals of each economic doctrine, and offers a critique of the advantages and limitations of each doctrine's contribution to addressing the challenge of climate change.
2010-10
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/29718/1/MPRA_paper_29718.pdf
Atkinson, Robert D. and Hackler, Darrene (2010): Economic Doctrines and Approaches to Climate Change Policy.
en
oai:mpra.ub.uni-muenchen.de:29719
2019-09-27T05:01:06Z
7374617475733D707562
7375626A656374733D43:4336:433638
7375626A656374733D46:4631:463134
7375626A656374733D42:4235:423530
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/29719/
The Palestinian economy and its trade pattern: Stylised facts and alternative modelling strategies
Botta, Alberto
C68 - Computable General Equilibrium Models
F14 - Empirical Studies of Trade
B50 - General
The World Bank (WB) Computational General Equilibrium model (CGE) by Claus Astrup and Sebastian Dessus (2001) is a cornerstone study on Palestine. It adopts a strictly neoclassical perspective, in which price-driven adjustments and the Armington/Constant-Elasticity-of-Transformation (CET) apparatus describe the functioning of the Palestinian economy and its foreign trade relations. This paper argues that certain empirical and factual inconsistencies prevent such a “pure” neoclassical approach from representing the Palestinian reality. We firstly argue that quantity-driven adjustments better describe economic adjustments within the Palestinian economy than price-driven adjustments do. Secondly, we stress the prevailing inter-industry nature of Palestinian foreign trade and the relevance of real income variables to explain expenditure allocation between domestic and imported goods. These aspects are hardly caught by the Armington/CET apparatus and require an alternative formalizing strategy. The final section of the paper describes a heterodox/structuralist perspective on Palestine.
2010-10
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/29719/1/MPRA_paper_29719.pdf
Botta, Alberto (2010): The Palestinian economy and its trade pattern: Stylised facts and alternative modelling strategies. Published in: The Palestinian economy: Theoretical and practical challenges (October 2010): pp. 194-231.
en
oai:mpra.ub.uni-muenchen.de:29733
2019-09-26T12:10:50Z
7374617475733D756E707562
7375626A656374733D50:5034:503430
7375626A656374733D4F:4F31:4F3130
7375626A656374733D4F:4F35:4F3534
7375626A656374733D42:4235:423530
7375626A656374733D50:5034:503438
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/29733/
Elected Oligarchy and Economic Underdevelopment: The Case of Guyana
Khemraj, Tarron
Hinova, Diana
P40 - General
O10 - General
O54 - Latin America ; Caribbean
B50 - General
P48 - Political Economy ; Legal Institutions ; Property Rights ; Natural Resources ; Energy ; Environment ; Regional Studies
This study proposes the idea that Guyana’s present government can be categorized as an elected oligarchy. It highlights the existence of several binding constraints (or structural bottlenecks) and demonstrates how these constraints are exacerbated by the elected oligarchy to impair the economic development of the country. Using stylized data on economic trends, the paper illustrates the direct and indirect channels through which the elected oligarchy stifles the private sector and consequently economic progress. As such, the paper presents the elected oligarchy as an alternative channel through which private investments are crowded out by the political strategy of the state.
2011-03
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/29733/1/MPRA_paper_29733.pdf
Khemraj, Tarron and Hinova, Diana (2011): Elected Oligarchy and Economic Underdevelopment: The Case of Guyana.
en
oai:mpra.ub.uni-muenchen.de:29769
2019-10-02T04:45:54Z
7374617475733D756E707562
7375626A656374733D42:4235:423530
7375626A656374733D42:4235:423534
7375626A656374733D45:4536:453630
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/29769/
Employer of Last Resort Policy and Feminist Economics: Social Provisioning and Socialization of Investment
Zdravka, Todorova
B50 - General
B54 - Feminist Economics
E60 - General
The paper discusses the Employment of Last Resort (ELR) policy proposal that has emerged from Post Keynesian theory as an embodiment of what Keynes called “socialization of investment,” as well as an avenue for a social provisioning approach towards socialization of unpaid care labor. Intersections between Post Keynesian and feminist economics are delineated. The paper proposes avenues for input from feminist economics into formulation of an ELR policy, and raises questions about transformation of gender relations.
2009-04
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/29769/1/MPRA_paper_29769.pdf
Zdravka, Todorova (2009): Employer of Last Resort Policy and Feminist Economics: Social Provisioning and Socialization of Investment.
en
oai:mpra.ub.uni-muenchen.de:30827
2019-09-27T16:32:39Z
7374617475733D707562
7375626A656374733D51:5133:513332
7375626A656374733D44:4435:443537
7375626A656374733D42:4235:423530
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/30827/
Exhaustible natural resources, normal prices and intertemporal equilibrium
Parrinello, Sergio
Q32 - Exhaustible Resources and Economic Development
D57 - Input-Output Tables and Analysis
B50 - General
This paper proposes an extension of the classical theory of normal prices to an n-commodity economy with exhaustible natural resources. The central idea is developed by two analytical steps. Firstly, it is assumed that a given flow of an exhaustible resource in short supply is combined with the coexistence of two methods of production using that resource. Sraffa’s equations are reinterpreted by adopting the concept of effectual supply of natural resources and avoiding the assumption of perfect foresight. Secondly, in force of the Hotelling rule, some limitations are imposed to the dynamics of normal prices and, by implication, to technical and structural change. A comparison, between such approach and the notion of intertemporal equilibrium with natural resources, introduces the central argument. The final part of the paper presents a critical assessment of recent works in this area. The conclusions are focused on methodological issues. Final version of this working paper: S. Parrinello, “The Notion of Effectual Supply and the Theory of Normal Prices with Exhaustible Natural Resources”, Economic Systems Research, Vol. 16, No. 3, September 2004.
2003-06
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/30827/1/MPRA_paper_30827.pdf
Parrinello, Sergio (2003): Exhaustible natural resources, normal prices and intertemporal equilibrium. Published in: Working Paper Dipartimento di Economia Pubblica , Vol. 57, (June 2003): pp. 1-25.
en
oai:mpra.ub.uni-muenchen.de:30907
2019-09-28T06:17:14Z
7374617475733D756E707562
7375626A656374733D42:4235:423530
7375626A656374733D44:4430:443030
7375626A656374733D42:4234:423431
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/30907/
The making of heterodox microeconomics
Lee, Frederic
B50 - General
D00 - General
B41 - Economic Methodology
This paper constitutes the first chapter in my work-in-progress manuscript, Microeconomic Theory: A Heterodox Approach. Because many heterodox feel that the only micro theory is mainstream micro, the paper starts with a brief rejection of mainstream theory. It then proceeds to give an overview of heterodox economic theory. The third section defines heterodox microeconomic theory and relates it to heterodox value theory. Since heterodox economic theory and particularly microeconomic theory is not already formed, it has to be created. Thus the fourth section of the paper delineates the heterodox methodology of theory creation, which includes critical realism and the method of grounded theory, and discusses various methodological issues such as data, case studies, mathematics and modeling, and econometrics. The following section deals with the historical character of heterodox economic theories; and the paper ends with a discussion about the making of heterodox microeconomic theory that will take place in the subsequent chapters of the book.
2011-05-12
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/30907/1/MPRA_paper_30907.pdf
Lee, Frederic (2011): The making of heterodox microeconomics.
en
oai:mpra.ub.uni-muenchen.de:31177
2019-09-27T20:59:45Z
7374617475733D756E707562
7375626A656374733D45:4531:453132
7375626A656374733D45:4532:453235
7375626A656374733D42:4232:423232
7375626A656374733D42:4235:423530
7375626A656374733D42:4234:423431
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/31177/
What is wrong with heterodox economics? Kalecki’s profit theory as an example
Kakarot-Handtke, Egmont
E12 - Keynes ; Keynesian ; Post-Keynesian
E25 - Aggregate Factor Income Distribution
B22 - Macroeconomics
B50 - General
B41 - Economic Methodology
Kalecki’s profit theory has always been popular among heterodox economist
as an alternative approach to solve the paradox of monetary profits. In the
present paper his formula ‘The workers spend what they get, the capitalists
get what they spend’ is scrutinized for its logical and factual implications. The
analysis shows that Kalecki’s alternative approach points in the right direction
but unfortunately shares a crucial conceptual error with standard economics.
2011-05-18
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/31177/1/MPRA_paper_31177.pdf
Kakarot-Handtke, Egmont (2011): What is wrong with heterodox economics? Kalecki’s profit theory as an example.
en
oai:mpra.ub.uni-muenchen.de:31472
2019-09-29T20:44:59Z
7374617475733D707562
7375626A656374733D46:4631:463135
7375626A656374733D46:4630:463031
7375626A656374733D42:4235:423530
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/31472/
The "institutional factor" in the theory of international trade: new vs. old trade theories
Parrinello, Sergio
F15 - Economic Integration
F01 - Global Outlook
B50 - General
Abstract
The New Trade Theory presents novel perspectives compared to the Old Theories of international trade. Increasing returns and different institutional arrangements can explain the international specialization and trade flows even between countries which are identical in terms of factor endowments, technology and preferences for private goods. In this context the pattern of trade cannot be determined by a price/cost comparison of isolated countries. Comparative advantages can be affected by historical accidents and become a solution to a general political-economic equilibrium system. As a consequence, the institutional factor appears as a crucial element in a non purely verbal distinction between theories of interregional trade and theories of international trade. This distinction is acknowledged in the non analytical discourse of the Old Trade Theories, but it is seldom revealed in the formal models by which such theories are formulated. The New Trade Theory has the merit of dealing with this hidden factor explicitly. This paper presents 1) a reappraisal of some ideas of Smith, Ricardo and Ohlin which anticipate the role assigned to the institutional factor in the New Theory; 2) a critical assessment of how this factor is modeled in the New Trade Theory 3) an evaluation of the progress brought about by the New Trade Theory; 4) an indication of how the same factor can be treated in the light of the Old Trade Theories.
2000
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/31472/1/MPRA_paper_31472.pdf
Parrinello, Sergio (2000): The "institutional factor" in the theory of international trade: new vs. old trade theories. Published in: Edward Elgar Publ. (2002): pp. 256-272.
en
oai:mpra.ub.uni-muenchen.de:32033
2019-10-04T03:57:57Z
7374617475733D756E707562
7375626A656374733D45:4533:453332
7375626A656374733D45:4531:453132
7375626A656374733D42:4235:423530
7375626A656374733D45:4534:453434
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/32033/
The two-price model revisited. A Minskian-Kaleckian reading of the process of 'financialization'
Passarella, Marco
E32 - Business Fluctuations ; Cycles
E12 - Keynes ; Keynesian ; Post-Keynesian
B50 - General
E44 - Financial Markets and the Macroeconomy
In Passarella (2011B) a kind of up-grading of Minsky’s economic thought was proposed, in which his ‘financial instability hypothesis’ was inter-bred with inputs from the current heterodox literature. This up-grading was done within a one-good model where capital goods were regarded as a mere portion of firms’ homogeneous output. This simplifying hypothesis did not permit us to include explicitly the ratio of the (demand) price of capital assets to the supply price of capital goods – i.e. the key analytical concept in Minsky’s theory. This paper aims to improve the simplified model provided in Passarella (2011B) by considering explicitly an artificial, pure credit, closed capitalist economy in which production firms are split into two different sectors. The result is a new, although paradoxical, monetary circuit model which allows us to retrieve some of the most disputed results of Minsky’s analysis of economic instability.
2011-07-11
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/32033/1/MPRA_paper_32033.pdf
Passarella, Marco (2011): The two-price model revisited. A Minskian-Kaleckian reading of the process of 'financialization'.
en
oai:mpra.ub.uni-muenchen.de:32549
2019-09-29T19:14:02Z
7374617475733D756E707562
7375626A656374733D45:4531:453132
7375626A656374733D45:4532:453235
7375626A656374733D42:4232:423232
7375626A656374733D42:4235:423530
7375626A656374733D42:4234:423431
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/32549/
What is wrong with heterodox economics? Kalecki’s profit theory as an example
Kakarot-Handtke, Egmont
E12 - Keynes ; Keynesian ; Post-Keynesian
E25 - Aggregate Factor Income Distribution
B22 - Macroeconomics
B50 - General
B41 - Economic Methodology
Kalecki’s profit theory has always been popular among heterodox economist as an alternative approach to solve the paradox of monetary profits. In the present paper his formula ‘The workers spend what they get, the capitalists get what they spend’ is scrutinized for its logical and factual implications. The analysis shows that Kalecki’s alternative approach points in the right direction but unfortunately shares a crucial conceptual error with standard economics.
2011-05-18
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/32549/1/MPRA_paper_32549.pdf
Kakarot-Handtke, Egmont (2011): What is wrong with heterodox economics? Kalecki’s profit theory as an example.
en
oai:mpra.ub.uni-muenchen.de:33800
2019-09-27T07:28:19Z
7374617475733D756E707562
7375626A656374733D45:4531:453132
7375626A656374733D45:4532:453234
7375626A656374733D42:4235:423530
7375626A656374733D4F:4F33:4F3333
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/33800/
Technology, structural change and BOP constrained growth: A structuralist toolbox
Cimoli, Mario
Porcile, Gabriel
E12 - Keynes ; Keynesian ; Post-Keynesian
E24 - Employment ; Unemployment ; Wages ; Intergenerational Income Distribution ; Aggregate Human Capital ; Aggregate Labor Productivity
B50 - General
O33 - Technological Change: Choices and Consequences ; Diffusion Processes
The Latin American Structuralism (LAS) is a significant part of the heterodox tradition in the theory of long run growth, with a focus on the problems of developing economies which started their industrialization process when other regions had already accumulated substantial technological capabilities. The emergence of a centre-periphery system posed specific problems to growth and distribution in laggard economies which LAS discusses in a systematic way. In this paper we presented a simple model which,firstly, captures key insights of the LAS school, such as the persistency of technological asymmetries and structural heterogeneity; secondly, it can be used to analyze the impacts of shocks and policies based on how they affect supply-side and demand side parameters of the model; thirdly, it links more closely (Post-) Keynesian
macroeconomics based on the BOP constraint with the evolutionary microeconomics concerned with the dynamics of learning; lastly, it can be used as a toolbox and a teachable model in the analysis of the interactions between structural change, technological catching up and long run growth.
2011
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/33800/1/MPRA_paper_33800.pdf
Cimoli, Mario and Porcile, Gabriel (2011): Technology, structural change and BOP constrained growth: A structuralist toolbox.
en
oai:mpra.ub.uni-muenchen.de:34255
2019-09-26T17:23:11Z
7374617475733D756E707562
7375626A656374733D42:4232:423231
7375626A656374733D42:4235:423530
7375626A656374733D42:4231:423136
7375626A656374733D42:4235:423533
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/34255/
A critical perspective on heterodox production modeling
Murray, Michael/ M J
B21 - Microeconomics
B50 - General
B16 - Quantitative and Mathematical
B53 - Austrian
Production and distribution needs a proper place in heterodox economics. It has recently been suggested that the construction of production models needs to be empirically grounded. Also it has been stated that empirically grounded production models must be circular production models. This argument then marginalizes the contributions of important economists in heterodox thought. The paper will argue that heterodox production models need not be perfectly circular to make important contributions for heterodox production theory. Furthermore, it will be argued that models which consist of elements of hierarchial structures of production put emphasis on out of equilibrium traverse processes and historical time.
2011-10-21
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/34255/1/MPRA_paper_34255.pdf
Murray, Michael/ M J (2011): A critical perspective on heterodox production modeling.
en
oai:mpra.ub.uni-muenchen.de:34490
2019-10-01T22:36:44Z
7374617475733D756E707562
7375626A656374733D44:4433
7375626A656374733D45:4535:453531
7375626A656374733D42:4232:423232
7375626A656374733D42:4235:423530
7375626A656374733D44:4432:443230
7375626A656374733D41:4131:413130
7375626A656374733D44:4433:443331
7375626A656374733D42:4231:423139
7375626A656374733D45:4535:453538
7375626A656374733D41:4131:413133
7375626A656374733D45:4535:453532
7375626A656374733D45:4535:453530
7375626A656374733D41:4131:413134
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/34490/
Banks' Reserves' Restrictions and Economic Performance in Sudan (2007-2009)
Mohamed, Issam A.W.
D3 - Distribution
E51 - Money Supply ; Credit ; Money Multipliers
B22 - Macroeconomics
B50 - General
D20 - General
A10 - General
D31 - Personal Income, Wealth, and Their Distributions
B19 - Other
E58 - Central Banks and Their Policies
A13 - Relation of Economics to Social Values
E52 - Monetary Policy
E50 - General
A14 - Sociology of Economics
The paper analyzes the impacts of Islamic and conventional Banks reserves' restrictions in Sudan. Comprehensively, those restrictions are necessary for health banks, performance and the viability of the macroeconomic performance in any country. The selected period of the analysis (2007-2009) is vital to study impacts of the Global Financial Crisis on the Sudanese economy. The paper introduces available data on banks institutions, macroeconomic policies and the central Bank of Sudan considering its part on controlling money supply and demand besides drawing policies for banks behaviors. It is conceivable from my conclusions here that there are conflicts between conventional and Islamic banks in reserves restrictions that impede normalized bank rules and the Central Sudan Bank's limitations during feasible financial and economic crisis. Thus, the slow and ineffective responses to the Global Financial crisis, in fact the failure can be due to those conflicts between the two banking regimes. Compared with other Islamic banking institutions that complied to recommended responses to the crisis that Sudanese case reveals differently. The Islamic banks could not respond effectively due to the so imposed interest rates on the required monetary subsidy from the Sudan Central Bank. Moreover, the deprivation of the oil revenues to the latter limited its abilities to support both the conventional and Islamic banks of the country. The results were manifested in their limited ability to cater for the required financing to the real productive economic sectors of Sudan. The consequent crisis of the year 2011 is a direct result of that lamed ability to finance the production sectors and their collapse in contributing to the stricken Sudanese economy.
2010-08-17
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/34490/1/MPRA_paper_34490.pdf
Mohamed, Issam A.W. (2010): Banks' Reserves' Restrictions and Economic Performance in Sudan (2007-2009).
ar
oai:mpra.ub.uni-muenchen.de:35367
2019-10-02T11:51:12Z
7374617475733D756E707562
7375626A656374733D44:4432:443231
7375626A656374733D42:4235:423530
7375626A656374733D44:4436:443630
7375626A656374733D47:4733:473330
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/35367/
Heterodox Critiques of Corporate Social Responsibility
Jo, Tae-Hee
D21 - Firm Behavior: Theory
B50 - General
D60 - General
G30 - General
Corporate social responsibility (CSR) is in vogue in recent times. It has been widely received by socially concerned people in business, academia, and NGOs that CSR would lend support to the improvement in social welfare and the protection of environment. However, the question that whether corporations are socially responsible or corporations should behave responsibly is beside the point from the heterodox economic perspective. The proper question to pose is how corporations manipulate the social by means of CSR. Drawing upon the heterodox theory of the business enterprise along with the social provisioning perspective, I argue that the business corporation has always acted in a socially responsible manner by generating ethical-political-cultural values, norms, and beliefs that legitimize whatever the business corporation does is socially responsible. In this respect, CSR is a market-based means to control the social provisioning process by way of creating an illusionary image of corporations and, thereby, hiding the ruthless acquisitive drive and the exploitation of human beings and nature.
2011-12-12
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/35367/2/MPRA_paper_35367.pdf
Jo, Tae-Hee (2011): Heterodox Critiques of Corporate Social Responsibility.
en
oai:mpra.ub.uni-muenchen.de:35376
2019-09-26T09:36:04Z
7374617475733D756E707562
7375626A656374733D42:4230
7375626A656374733D43:4330:433030
7375626A656374733D5A:5A30:5A3030
7375626A656374733D42:4235:423530
7375626A656374733D42:4235:423539
7375626A656374733D42:4230:423030
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/35376/
The Behavioralist Empire and its Enemies: a Comparative Study of Successes and Dissatisfactions in American Political Science
Ponce, Aldo F.
B0 - General
C00 - General
Z00 - General
B50 - General
B59 - Other
B00 - General
This paper sheds light on the reasons that explain the dissatisfactions because of the behavioralist dominance within American political science academia. I show how and why the flaws and failures of the behavioralist analysis have created more room for the emergence of alternative approaches or new ideological movements in the study of politics. These competing paradigms or approaches are mainly post-behavioralism, postmodernism, and the Perestroika movement. Moreover, under a comparative framework, I explain why behavioralism is still the dominant paradigm within American political science academia despite all the efforts of the alternative paradigms to displace it.
2004-12-31
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/35376/1/MPRA_paper_35376.pdf
Ponce, Aldo F. (2004): The Behavioralist Empire and its Enemies: a Comparative Study of Successes and Dissatisfactions in American Political Science.
en
oai:mpra.ub.uni-muenchen.de:35468
2019-10-05T16:35:49Z
7374617475733D756E707562
7375626A656374733D45:4534:453432
7375626A656374733D42:4235:423530
7375626A656374733D50:5031:503130
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/35468/
La coordination en économie: un essai sur la monnaie
ULGEN, Faruk
E42 - Monetary Systems ; Standards ; Regimes ; Government and the Monetary System ; Payment Systems
B50 - General
P10 - General
This article deals with the role and the place of the money in the process of coordination in a decentralized market economy. The equilibrium models assume that the coordination is carried out through market mechanisms. These mechanisms are mainly real and individual mechanisms but they seem to be unable to integrate money into the theoretical construction. We opt then for a noticeably different method by taking the money as the departure point of the economic analysis and we try to understand economic phenomena through the monetary prism. We show why and how a monetary approach could be envisaged as a coherent and plausible alternative theory of a market economy. This conceptual orientation brings to the fore the issues of monetary ambivalence and of permanent conflict between private/decentralized actions and the systematic viability.
2010-12-18
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/35468/1/MPRA_paper_35468.pdf
ULGEN, Faruk (2010): La coordination en économie: un essai sur la monnaie.
fr
oai:mpra.ub.uni-muenchen.de:36956
2019-09-26T12:49:58Z
7374617475733D756E707562
7375626A656374733D44:4430:443033
7375626A656374733D42:4235:423530
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/36956/
An experimental investigation on learning and context effects
Novarese, Marco
Chelini, Chiara
Spada, Anna
Ambrosino, Angela
Trigona, Carla
D03 - Behavioral Microeconomics: Underlying Principles
B50 - General
This paper revisited Gregory Bateson’s theory of hierarchical learning through an experiment testing the existence of context effect and learning spill-over in two following games: a coordination game and a two-step battle-of-the sexes. The first part of the experiment is seen as a kind of training period. The different groups of the coordination game are, in fact, designed so to reinforce different representations of the games, requiring to look at different aspects of a series of images shown in the screen. The second game allows testing if differences in training determine different behaviors in a same situation. Our experiment suggests that the preliminary training influences how the second game is perceived. While the incentive structure of the battle-of-the sexes is not identical to the coordination game, the presence of an image determines a different kind of context similarity with the previous one.
2010-12-27
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/36956/1/MPRA_paper_36956.pdf
Novarese, Marco and Chelini, Chiara and Spada, Anna and Ambrosino, Angela and Trigona, Carla (2010): An experimental investigation on learning and context effects.
en
oai:mpra.ub.uni-muenchen.de:38206
2019-09-29T03:23:26Z
7374617475733D756E707562
7375626A656374733D42:4235:423530
7375626A656374733D45:4536:453630
7375626A656374733D47:4730:473031
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/38206/
Financial crisis - US versus Asian. Factors and policy response F
Gulam Hassan, Mohamed Aslam
B50 - General
E60 - General
G01 - Financial Crises
The financial crisis which erupted in the United States of America in 2007 drove the real economic sector into a crisis that has diminshed the world’s economic growth thereafter. There is no single theory that can explain what has happened in the US. Eventhough there were a few financial crises models, however all the models are “meaningless”. Traditional macroeconomic policies were used to restore the distress economy but the policies seemed to be ineffective. In this regards, heterodox economic perspectives may provide some answers in dealing with such economic crisis that have been experienced by the US. The financial crisis experienced in Asia in 1997-98 could provide some ideas for economic crisis solutions. The aim of this paper is (a) to discuss the financial crisis in the US and East Asia 1997/1998, and (b) to look at unorthodox economic policies that could possibly be considered in dealing with the financial crisis.
2012-01-10
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/38206/1/MPRA_paper_38206.pdf
Gulam Hassan, Mohamed Aslam (2012): Financial crisis - US versus Asian. Factors and policy response F.
en
oai:mpra.ub.uni-muenchen.de:38851
2019-10-02T02:32:47Z
7374617475733D756E707562
7375626A656374733D44:4437:443730
7375626A656374733D49:4933:493331
7375626A656374733D42:4235:423530
7375626A656374733D44:4430:443030
7375626A656374733D45:4536:453630
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/38851/
What do happy people choose: rapid economic growth or stable economy?
Beja Jr., Edsel L.
D70 - General
I31 - General Welfare, Well-Being
B50 - General
D00 - General
E60 - General
How SWB affects individual states, outcomes, or decisions is well established in the literature, but how it affects macroeconomic states, outcomes, or decisions remains an open empirical question. This paper focuses on the public policy issue of economic progress defined as either rapid economic growth or stable economy. Results indicate a negative relationship between high SWB and choice for rapid economic growth or stable economy. This conclusion holds for people in the upper-income and middle-income countries, but not so for people in the low-income countries. In fact, results suggest that people in the low-income countries attend less to either rapid economic growth or stable economy regardless of their SWB.
2012-05-17
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/38851/1/MPRA_paper_38851.pdf
Beja Jr., Edsel L. (2012): What do happy people choose: rapid economic growth or stable economy?
en
oai:mpra.ub.uni-muenchen.de:39450
2019-09-28T04:39:52Z
7374617475733D756E707562
7375626A656374733D44:4432:443231
7375626A656374733D42:4235:423530
7375626A656374733D47:4733:473330
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/39450/
Financing investment under fundamental uncertainty and instability: A heterodox microeconomic view
Jo, Tae-Hee
D21 - Firm Behavior: Theory
B50 - General
G30 - General
The business enterprise in the real world wrestles with fundamental uncertainty and instability. Key enterprise decisions such as pricing, financing, and investment are thus made strategically rather than optimally. Heterodox economists are, however, divided in the account of business enterprise's financing behavior; macroeconomists put an emphasis on external financing, whereas microeconomists on internal financing. Moreover, they often stop short of establishing a link between the two. Drawing upon the social provisioning perspective, this essay aims at providing a new light on financing focusing on strategic enterprise decision-making mechanisms.
2012-06-13
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/39450/1/MPRA_paper_39450.pdf
Jo, Tae-Hee (2012): Financing investment under fundamental uncertainty and instability: A heterodox microeconomic view.
en
oai:mpra.ub.uni-muenchen.de:39570
2019-09-26T09:12:16Z
7374617475733D756E707562
7375626A656374733D42:4235:423531
7375626A656374733D42:4230
7375626A656374733D42:4231
7375626A656374733D42:4235:423530
7375626A656374733D42:4231:423135
7375626A656374733D41:4131:413131
7375626A656374733D41:4131:413132
7375626A656374733D42:4235:423533
7375626A656374733D41:4131:413134
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/39570/
The Making of a Good Society: Lowe’s Instrumental Method and the Pursuit of Full Employment
Murray, Michael/ M J
B51 - Socialist ; Marxian ; Sraffian
B0 - General
B1 - History of Economic Thought through 1925
B50 - General
B15 - Historical ; Institutional ; Evolutionary
A11 - Role of Economics ; Role of Economists ; Market for Economists
A12 - Relation of Economics to Other Disciplines
B53 - Austrian
A14 - Sociology of Economics
The article discusses the incompatibility of promoting individual interests of capitalists and workers with the promotion of macroeconomic goals of society. The article implements the ``instrumental method'' developed by Adolph Lowe, and articulates the separation of microeconomic goals with macroeconomic objectives. Using full employment as a case study, the article articulates the proper role for government in achieving and maintaining full employment in a capitalist society. Further it is seen that such an approach also promotes the self interests of capitalists. The approach taken in this article offers an alternative to the failed policies of neoliberalism.
2011-02-14
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/39570/2/MPRA_paper_39570.pdf
Murray, Michael/ M J (2011): The Making of a Good Society: Lowe’s Instrumental Method and the Pursuit of Full Employment.
en
oai:mpra.ub.uni-muenchen.de:39582
2019-09-28T01:24:28Z
7374617475733D756E707562
7375626A656374733D44:4432:443231
7375626A656374733D42:4235:423530
7375626A656374733D47:4733:473330
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/39582/
Financing investment under fundamental uncertainty and instability: A heterodox microeconomic view
Jo, Tae-Hee
D21 - Firm Behavior: Theory
B50 - General
G30 - General
The business enterprise in the real world wrestles with fundamental uncertainty and instability. Key enterprise decisions such as pricing, financing, and investment are thus made strategically rather than optimally. Heterodox economists are, however, divided in the account of business enterprise's financing behavior; macroeconomists put an emphasis on external financing, whereas microeconomists on internal financing. Moreover, they often stop short of establishing a link between the two. Drawing upon the social provisioning perspective, this essay aims at providing a new light on financing focusing on strategic enterprise decision-making mechanisms.
2012-06-13
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/39582/1/MPRA_paper_39582.pdf
Jo, Tae-Hee (2012): Financing investment under fundamental uncertainty and instability: A heterodox microeconomic view.
en
oai:mpra.ub.uni-muenchen.de:39796
2019-09-28T02:57:08Z
7374617475733D707562
7375626A656374733D45:4536:453632
7375626A656374733D45:4534:453432
7375626A656374733D45:4535:453538
7375626A656374733D42:4235:423530
7375626A656374733D42:4232:423235
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/39796/
Money creation and control from Islamic perspective
Hasan, Zubair
E62 - Fiscal Policy
E42 - Monetary Systems ; Standards ; Regimes ; Government and the Monetary System ; Payment Systems
E58 - Central Banks and Their Policies
B50 - General
B25 - Historical ; Institutional ; Evolutionary ; Austrian
This paper deals with familiar facts in monetary economics from an unfamiliar angle. It argues that it is not factual to regard the legal tender money and bank credit as of different genus: they work in tandem to the same ends in an economy, conventional or Islamic. Also, it does not matter what serves as money – solid gold or flimsy paper – for keeping its value stable; only the blind would argue that staff is indispensable for walking. Money is just an instrument: it was never nor can ever be classified into Islamic and non-Islamic. What it does – good or bad – depends on how we use it. Money does not generate crises; its mismanagement does. It follows that the refuge the world is searching today from recurring financial crises does not lie in money substance: history testifies that national economies could not remain turmoil-free during the centuries of the yellow metal sway over the monetary scene. The paper concludes that it is the human factor that has been the source of good or evil for mankind including money matters. And the quality of human factor true religion can alone improve: morality without faith is rudderless.
2011-01-23
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/39796/1/MPRA_paper_39796.pdf
Hasan, Zubair (2011): Money creation and control from Islamic perspective. Published in: Review of Islamic economics , Vol. 15, No. 1 : pp. 93-111.
en
oai:mpra.ub.uni-muenchen.de:39960
2019-09-29T05:52:50Z
7374617475733D756E707562
7375626A656374733D42:4235:423530
7375626A656374733D44:4435:443531
7375626A656374733D44:4430:443031
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/39960/
Material needs and aggregate demand
Kemp-Benedict, Eric
B50 - General
D51 - Exchange and Production Economies
D01 - Microeconomic Behavior: Underlying Principles
A central conclusion of the standard theory of consumption is that consumers' preferences can be taken as theoretical primitives. Special categories of consumption, such as "basic needs", or of goods, such as "subsistence goods" are seen as extra theoretical baggage that add few, if any, insights. This theoretical orientation has been absorbed into the theory of aggregate demand, but the aggregate theory has a serious problem that is not shared by the individual-level theory: no matter how well-behaved the individual-level demand functions may be, the aggregate-level function can take on almost any form. This result follows from the SMD theorem, named after Sonnenschein, Mantel, and Debreu, who developed the theory; Kirman and Koch strengthened the results, and the SMD-KK theorem poses a fundamental challenge to models linking micro and macroeconomics. A standard response to the aggregation problem is to introduce a representative agent, but this merely sidesteps the problem. We argue that the aggregation problem arises, in part, because of the exclusion of needs from the theory. Specifically, we argue that material needs--such as basic needs for energy, water, food, and shelter--must be included as theoretical primitives because both the needs and the satisfiers of those needs are universal. We construct a microeconomic model with material needs and show that the form of the aggregate excess demand function is not completely arbitrary, so the SMD-KK theorem does not apply. We discuss the implications of this result.
2012-07-07
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/39960/1/MPRA_paper_39960.pdf
Kemp-Benedict, Eric (2012): Material needs and aggregate demand.
en
oai:mpra.ub.uni-muenchen.de:40349
2019-10-01T18:04:10Z
7374617475733D707562
7375626A656374733D48:4831:483131
7375626A656374733D42:4235:423530
7375626A656374733D45:4536:453631
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/40349/
Dismantling a weak state: The crisis as a pretext for even more neoliberalism in the Romanian economic policies
Cărămidariu, Dan
H11 - Structure, Scope, and Performance of Government
B50 - General
E61 - Policy Objectives ; Policy Designs and Consistency ; Policy Coordination
The paper presents the evolution of Romanian economic policies shortly before and during the financial and economic crisis. It starts by pointing out key data on the Romanian economy in 2008 and focuses on the different action plans the Romanian governement has drawn and put into practice in 2009 and 2010. The paper analysizes especially the general cut-off of wages in the public sector, the raise of taxes (2010) and their influence on consumers' demand and the evolution of Romanian GDP in 2010 and 2011. At the same time, it focuses on the evolution of governement investments in 2010 and 2011, the tool officially proclaimed as Romania's magical key for getting out of the recession. The paper shows that although such a raise in public investments was a dominant element in the governement's economic discourse, in fact public investments decreased in 2011. Based on the fact that the austerity measures, combined with the raise of public investments, were - according to mainstream economists - the best possible policy mix for fighting the crisis, the paper comes to the conclusion that this policy mix has more negative than positive effects for the unreformed Romanian economy, as long as a true raise of public investments cannot be revealed. It shows that the crisis was used as a pretext for implementing Neoliberal principles in Romanian economic thought and policy as well, for pushing forward the dismantling process of the Romanian state.
2012
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/40349/1/MPRA_paper_40349.pdf
Cărămidariu, Dan (2012): Dismantling a weak state: The crisis as a pretext for even more neoliberalism in the Romanian economic policies. Published in: Crisis Aftermath: Economic policy changes in the EU and its Member States, Conference Proceedings, Szeged, University of Szeged , Vol. ISBN 9, (2012): pp. 196-206.
en
oai:mpra.ub.uni-muenchen.de:41842
2019-09-27T01:06:17Z
7374617475733D756E707562
7375626A656374733D42:4235:423530
7375626A656374733D41:4131:413134
7375626A656374733D41:4131:413131
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/41842/
The UK research assessment exercise and the narrowing of UK economics
Lee, Frederic
Pham, Xuan
Gu, Gyun
B50 - General
A14 - Sociology of Economics
A11 - Role of Economics ; Role of Economists ; Market for Economists
The aim of this paper is to delineate an empirically grounded, structure-causal going concern recursive model of UK economics that, in the context of the RAE and local department decision-making, explains the progressive elimination of heterodox economics, the progressive homogenization of mainstream economics from 1992 to the present, and the continued rise to dominance of a select group of departments, and indicates whether these ‘regularities’ will continue under the Research Excellence Framework selectivity exercise in 2014.
2012-10
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/41842/1/MPRA_paper_41842.pdf
Lee, Frederic and Pham, Xuan and Gu, Gyun (2012): The UK research assessment exercise and the narrowing of UK economics.
en
oai:mpra.ub.uni-muenchen.de:41926
2019-09-26T21:58:48Z
7374617475733D707562
7375626A656374733D43:4330:433030
7375626A656374733D49:4933:493331
7375626A656374733D42:4235:423530
7375626A656374733D41:4131:413130
7375626A656374733D43:4338:433830
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/41926/
World Database of happiness: Example of a focused ‘Findings Archive’
Veenhoven, Ruut
C00 - General
I31 - General Welfare, Well-Being
B50 - General
A10 - General
C80 - General
Social scientists are producing an ever growing stream of research findings, which is ever more difficult to oversee. As a result, capitalization on earlier investment declines
and accumulation of knowledge stagnates. This situation calls for more research synthesis and interest in synthetic techniques is on the rise.
To date attention has been focused on techniques for meta-analysis, with little attention paid to the preliminary step of bringing the available research findings together. What we need is 1) techniques for describing research findings in a comparable way, 2) a system for storing such descriptions in an easily accessible archive, 3) to which research findings can be added on a continuous basis.
The World Database of Happiness is an example of such a tool. The archive is tailored to meet the requirements of assembling research findings on happiness; both
distributional findings (how happy people are) and correlational findings (what things go together with happiness).
With its focus on 'findings' the system differs from data-archives that store 'investigations' and from bibliographies that store 'publications'. As yet there is no established term to describe this tool for research synthesis. I call it a 'focused findings archive'. In this paper I describe how that works and discusses the strengths and weaknesses of this approach.
2011-02
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/41926/1/MPRA_paper_41926.pdf
Veenhoven, Ruut (2011): World Database of happiness: Example of a focused ‘Findings Archive’. Published in: German Data Forum RatSWD No. Working paper nr.169 (February 2011)
en
oai:mpra.ub.uni-muenchen.de:42428
2019-09-27T11:26:41Z
7374617475733D707562
7375626A656374733D43:4333:433332
7375626A656374733D4E:4E31:4E3130
7375626A656374733D45:4533:453331
7375626A656374733D42:4232:423233
7375626A656374733D42:4235:423530
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/42428/
The Greek Hyperinflation Revisited
Alexiou, Constantinos
Tsaliki, Persefoni
Tsoulfidis, Lefteris
C32 - Time-Series Models ; Dynamic Quantile Regressions ; Dynamic Treatment Effect Models ; Diffusion Processes ; State Space Models
N10 - General, International, or Comparative
E31 - Price Level ; Inflation ; Deflation
B23 - Econometrics ; Quantitative and Mathematical Studies
B50 - General
The objective of this paper is to gain an insight into the Greek hyperinflation that occurred during the period 1941-1946. In doing so, a relatively novel data-set in conjunction with the bound testing approach to cointegration and error correction models developed within the autoregressive distributed lag (ARDL) framework, shed additional light on the underlying long-run relationship between money supply and inflation. Granger causality tests between money supply and prices are also conducted in the effort to ascertain the direction of causality between money supply and the (hyper)inflation rate.
2008-02
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/42428/1/MPRA_paper_42428.pdf
Alexiou, Constantinos and Tsaliki, Persefoni and Tsoulfidis, Lefteris (2008): The Greek Hyperinflation Revisited. Published in: Ekonomia , Vol. 11, No. 1 (2008): pp. 19-34.
en
oai:mpra.ub.uni-muenchen.de:42594
2019-09-27T04:47:34Z
7374617475733D756E707562
7375626A656374733D42:4232:423231
7375626A656374733D42:4235:423530
7375626A656374733D44:4434:443433
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/42594/
Denial, Rationalization, and the Administered Price Thesis
Gu, Gyun Cheol
B21 - Microeconomics
B50 - General
D43 - Oligopoly and Other Forms of Market Imperfection
This paper analyzes neoclassical reactions to Gardiner Means's administered price thesis during 1980-2000. It shows that his original idea has been continuously denied by mainstream economists. At the same time, it has been transformed through a multiplicity of rationalization processes into one or another bastardized form. However, their attempts to deny and/or rationalize the thesis are unsuccessful as their sanitized versions of Means’s theory turn out to be self-contradictory in the neoclassical framework.
2012-05-01
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/42594/1/MPRA_paper_42594.pdf
Gu, Gyun Cheol (2012): Denial, Rationalization, and the Administered Price Thesis.
en
oai:mpra.ub.uni-muenchen.de:42802
2019-09-27T04:42:23Z
7374617475733D707562
7375626A656374733D42:4235:423532
7375626A656374733D44:4430:443032
7375626A656374733D42:4235:423530
7375626A656374733D4F:4F33:4F3333
7375626A656374733D42:4232:423235
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/42802/
Facilities of Original Institutional Economics in Research of Institutional Changes
Volchik, Vyacheslav
B52 - Institutional ; Evolutionary
D02 - Institutions: Design, Formation, Operations, and Impact
B50 - General
O33 - Technological Change: Choices and Consequences ; Diffusion Processes
B25 - Historical ; Institutional ; Evolutionary ; Austrian
Institutional changes in the economy have been the research subject of many economists, the majority of studies are carried out within neoinstitutionalism. In this paper the author attempts to analyze current institutional changes in terms of the old or traditional institutionalism. The author focuses, on the one hand, on the study of asynchrony transformation of regulation mechanisms, and institutions, on the other hand. As an important factor the collective action of special interest groups are considered in the analysis of institutional changes.
2011-11
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/42802/1/MPRA_paper_42802.pdf
Volchik, Vyacheslav (2011): Facilities of Original Institutional Economics in Research of Institutional Changes. Published in: JOURNAL OF ECONOMIC REGULATION , Vol. 2, No. 4 (2012): pp. 24-38.
en
oai:mpra.ub.uni-muenchen.de:42843
2019-09-27T04:45:46Z
7374617475733D707562
7375626A656374733D4E:4E31:4E3130
7375626A656374733D4E:4E32:4E3230
7375626A656374733D42:4235:423530
7375626A656374733D48:4836:483633
7375626A656374733D4E:4E34:4E3430
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/42843/
Οι Πτωχεύσεις του Ελληνικού Κράτους
Lefteris, Tsoulfidis
N10 - General, International, or Comparative
N20 - General, International, or Comparative
B50 - General
H63 - Debt ; Debt Management ; Sovereign Debt
N40 - General, International, or Comparative
This article presents and critically evaluates the Greek sovereign defaults and puts them into historical perspective. More specifically, each of the four defaults of the Greek State (1827, 1843, 1893 and 1932) was not an isolated episode in the turbulent economic history of capitalism, but rather it was a manifestation of the respective worldly depressionary periods of 1815-1845, 1873-1896, 1920 - 1940(5). In other words, the depressions increased substantially the likelihood of a default especially for the weaker economies. This by no means implies that the Greek sovereign defaults were to occur as in a natural phenomenon-like way, but rather to show that in each particular default the general economic conditions, in combination with wrong economic policies pursued, in most cases, by inept governments further increased the likelihood of a default, as this can be judged from the Greek experience of the past four defaults. Different economic policies could have postponed or even rescued the country from sovereign defaults and their dire consequences for the vast majority of people. Furthermore, the paper shows that post-default economic life was exceedingly more difficult and it took decades until the return to normalcy.
2012-10-06
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/42843/1/MPRA_paper_42843.pdf
Lefteris, Tsoulfidis (2012): Οι Πτωχεύσεις του Ελληνικού Κράτους. Published in: Ependitis No. November 17, 2012 (17 November 2012): pp. 1-21.
el
oai:mpra.ub.uni-muenchen.de:43484
2019-10-04T04:45:11Z
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74797065733D7061706572
https://mpra.ub.uni-muenchen.de/43484/
Predicting crises: Five essays on the mathematic prediction of economic and social crises
Albers, Scott
B51 - Socialist ; Marxian ; Sraffian
E0 - General
B31 - Individuals
C0 - General
B4 - Economic Methodology
N00 - General
E1 - General Aggregative Models
B52 - Institutional ; Evolutionary
N0 - General
C02 - Mathematical Methods
B24 - Socialist ; Marxist ; Sraffian
B5 - Current Heterodox Approaches
E3 - Prices, Business Fluctuations, and Cycles
B0 - General
K0 - General
C00 - General
C5 - Econometric Modeling
K00 - General
B50 - General
D4 - Market Structure, Pricing, and Design
A10 - General
D0 - General
C53 - Forecasting and Prediction Methods ; Simulation Methods
B40 - General
A13 - Relation of Economics to Social Values
A12 - Relation of Economics to Other Disciplines
B59 - Other
C22 - Time-Series Models ; Dynamic Quantile Regressions ; Dynamic Treatment Effect Models ; Diffusion Processes
D00 - General
B41 - Economic Methodology
This volume – Predicting Crisis: Five Essays on the Mathematic Prediction of Economic and Social Crises – is the first of three sets of essays. In this first set the economic and social history of the United States is shown to be a “system of movement,” i.e. a logical and mathematic progression of events which may be analyzed according to a set formula. The model proposed demonstrates that the citizen’s individual “consciousness” is writ large in the macro-economic statistics of this unique economy and thereby made available for inspection at other levels of reality.
2012-12-29
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/43484/1/MPRA_paper_43484.pdf
Albers, Scott (2012): Predicting crises: Five essays on the mathematic prediction of economic and social crises. Published in: Middle East Studies On-line Journal , Vol. Volume, No. Issue 6 (8 August 2011): pp. 199-253.
en
oai:mpra.ub.uni-muenchen.de:44414
2019-10-03T17:43:17Z
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74797065733D7061706572
https://mpra.ub.uni-muenchen.de/44414/
Foundations of the economic and social history of the United States: Empirical
Albers, Scott
A1 - General Economics
A12 - Relation of Economics to Other Disciplines
B4 - Economic Methodology
B40 - General
B5 - Current Heterodox Approaches
B50 - General
B59 - Other
C0 - General
C6 - Mathematical Methods ; Programming Models ; Mathematical and Simulation Modeling
C69 - Other
D0 - General
D01 - Microeconomic Behavior: Underlying Principles
E0 - General
N0 - General
N00 - General
P5 - Comparative Economic Systems
P50 - General
I argue that a form of consciousness may be found in American economic history, one which is both mathematically demonstrable and important. In this book I present a model of economic and political growth based upon systematic addition.
We begin with a philosophic model of trade (pp. 34-46);
aggregate this model over the course of year to state the real Gross National Product of the United States and its relationship to the rate of employment (pp. 47-62);
aggregate this model over the course of many years to find the growth of the United States stated as a natural “14-year octave” within real GNP data (pp. 63-91);
multiply this octave times two to find the 28-year natural rate of price fluctuation (pp. 92-112); and
multiply this octave times four to find the 56-year natural rate of political change (p. 92-112).
The final model (pp. 113-136) is the larger “fractal” of the model of trade which begins these essays, in essence demonstrating that the United States “trades” values over a period of time in much the same way the individual citizen trades goods and services for money on a personal basis.
2013-02-15
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/44414/1/MPRA_paper_44414.pdf
Albers, Scott (2013): Foundations of the economic and social history of the United States: Empirical.
en
oai:mpra.ub.uni-muenchen.de:44417
2019-10-17T16:52:25Z
7374617475733D756E707562
7375626A656374733D41:4131
7375626A656374733D41:4131:413139
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7375626A656374733D42:4235:423539
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7375626A656374733D43:4330:433032
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7375626A656374733D50:5030:503030
7375626A656374733D50:5031
7375626A656374733D50:5032
7375626A656374733D50:5035
7375626A656374733D59:5938:593830
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/44417/
Foundations of the economic and social history of the United States: Metaphysical
Albers, Scott
A1 - General Economics
A19 - Other
A2 - Economic Education and Teaching of Economics
A29 - Other
B40 - General
B41 - Economic Methodology
B49 - Other
B5 - Current Heterodox Approaches
B50 - General
B59 - Other
C0 - General
C00 - General
C02 - Mathematical Methods
C4 - Econometric and Statistical Methods: Special Topics
C5 - Econometric Modeling
C50 - General
C53 - Forecasting and Prediction Methods ; Simulation Methods
C54 - Quantitative Policy Modeling
P0 - General
P00 - General
P1 - Capitalist Systems
P2 - Socialist Systems and Transitional Economies
P5 - Comparative Economic Systems
Y80 - Related Disciplines
"Oppositional Analysis" - the name I give to the metaphysics presented in this volume - proposes a number of dichotomies through which one may analyze and understand systematically the structure of every level of reality. Macroeconomic theory, as well as social research, are two excellent stages upon which we may search for clues and insights to the interaction of oppositions. This is so particularly in connection with an analysis of the precepts of the "Austrian School" of macroeconomics as presented by Ludwig von Mises in his well-known and highly influential book Human Action.
Based upon the circuit given for a musical note (see the Apologia and the Introduction to Volume 2, as well as the more extensive treatment herein) and the "Circuit of Being" which will be introduced in this final volume, I propose a model of economics which may correlate with a view of the physical universe of five dimensions as suggested by Theodor Kaluza.
I suggest that these dichotomies may underlie the unity created by Kaluza’s work between General Relativity and Maxwell’s equations for electro-magnetism. If this is so, Oppositional Analysis and the economic and social history of the United States may provide a starting point from which we may learn important insights as to the inner workings of these economic and social oppositions as well oppositions of a more physical nature.
2013-02-15
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/44417/1/MPRA_paper_44417.pdf
Albers, Scott (2013): Foundations of the economic and social history of the United States: Metaphysical.
en
oai:mpra.ub.uni-muenchen.de:44656
2019-10-04T19:15:31Z
7374617475733D756E707562
7375626A656374733D42:4234:423431
7375626A656374733D42:4235:423530
7375626A656374733D42:4235:423539
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7375626A656374733D43:4338:433832
7375626A656374733D59:5938:593830
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/44656/
The Caldwellian Methodological Pluralism: Wishful Thoughts and Personal Tendencies
Amavilah, Voxi Heinrich
B41 - Economic Methodology
B50 - General
B59 - Other
C81 - Methodology for Collecting, Estimating, and Organizing Microeconomic Data ; Data Access
C82 - Methodology for Collecting, Estimating, and Organizing Macroeconomic Data ; Data Access
Y80 - Related Disciplines
Economists failed badly both to predict and solve the Great Global Recession of 2008-2010 for two interconnected reasons. The first is that economics has moved too far away from its social foundations. The second reason is that the positivist economic methodology that economics follows has produced both benefits and costs, perhaps even costs than benefits, one may argue. This paper looks at the available evidence (not exhaustively) to argue for a Caldwellian methodological pluralism. It illustrates the advantages of such a methodological approach as well as the disadvantages of its alternatives, especially monolithic positivism.
2012-11-30
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/44656/1/MPRA_paper_44656.pdf
Amavilah, Voxi Heinrich (2012): The Caldwellian Methodological Pluralism: Wishful Thoughts and Personal Tendencies.
en
oai:mpra.ub.uni-muenchen.de:44777
2019-09-27T18:44:47Z
7374617475733D756E707562
7375626A656374733D42:4231:423132
7375626A656374733D42:4235:423530
7375626A656374733D48:4836:483633
7375626A656374733D4E:4E34:4E3433
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/44777/
Public Debt and J.S. Mill’s Conjecture: A Note
Tsoulfidis, Lefteris
B12 - Classical (includes Adam Smith)
B50 - General
H63 - Debt ; Debt Management ; Sovereign Debt
N43 - Europe: Pre-1913
Classical economists mainly Smith, Ricardo and J.S. Mill abhorred public debts because of their interference with capital accumulation. J.S. Mill in particular envisaged that a rising public debt leads to higher interest rates and falling real wages, a combination which may be consistent with a mildly increasing trend in the profit rate.
2011-02-02
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/44777/1/MPRA_paper_44777.pdf
Tsoulfidis, Lefteris (2011): Public Debt and J.S. Mill’s Conjecture: A Note.
en
oai:mpra.ub.uni-muenchen.de:44843
2019-09-27T13:01:49Z
7374617475733D756E707562
7375626A656374733D41:4131:413130
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7375626A656374733D41:4131:413133
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7375626A656374733D43:4331:433139
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7375626A656374733D50:5031:503130
7375626A656374733D50:5031:503136
7375626A656374733D5A:5A30
7375626A656374733D5A:5A30:5A3030
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/44843/
Does “Okun’s Law” state a Pi:1 ratio? Toward a harmonic interpretation of why Okun’s Law works
Albers, Scott
Albers, Andrew L.
A10 - General
A12 - Relation of Economics to Other Disciplines
A13 - Relation of Economics to Social Values
B0 - General
B00 - General
B4 - Economic Methodology
B40 - General
B50 - General
B59 - Other
C0 - General
C00 - General
C01 - Econometrics
C02 - Mathematical Methods
C1 - Econometric and Statistical Methods and Methodology: General
C19 - Other
C5 - Econometric Modeling
C50 - General
C51 - Model Construction and Estimation
C53 - Forecasting and Prediction Methods ; Simulation Methods
D0 - General
D01 - Microeconomic Behavior: Underlying Principles
D03 - Behavioral Microeconomics: Underlying Principles
E0 - General
E00 - General
E1 - General Aggregative Models
E10 - General
E13 - Neoclassical
E19 - Other
E3 - Prices, Business Fluctuations, and Cycles
E32 - Business Fluctuations ; Cycles
P1 - Capitalist Systems
P10 - General
P16 - Political Economy
Z0 - General
Z00 - General
In Albers & Albers (Spring, 2013) we demonstrated that the historic development of U.S. real GNP, 1869-present, may be structured in recurring 14-year periods. A steady-state rate of growth of 3.4969% is thereby calculated, generating an increase in real GNP proportional to the famous “Golden Mean” (1:phi or 1:1.6180) every fourteen years on average.
Building on this foundation we show herein that “Okun’s Law,” a 3:1 proportion between percent growth in real GNP and percent decrease in the rate of unemployment, is actually a pi:1 proportion, created through a form of mathematic / harmonic inverse. The resulting model of economics in the United States is thereby aligned with geometric, harmonic and trigonometric analysis, rather than purely statistical methods.
2013-03-07
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/44843/1/MPRA_paper_44843.pdf
Albers, Scott and Albers, Andrew L. (2013): Does “Okun’s Law” state a Pi:1 ratio? Toward a harmonic interpretation of why Okun’s Law works.
en
oai:mpra.ub.uni-muenchen.de:47166
2019-09-28T04:54:42Z
7374617475733D756E707562
7375626A656374733D42:4235:423530
7375626A656374733D45:4530:453032
7375626A656374733D50:5031:503136
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/47166/
Money, Credit, Capital and the State: On the evolution of money and institutions
Hanappi, Hardy
B50 - General
E02 - Institutions and the Macroeconomy
P16 - Political Economy
This paper combines several important arguments, which have puzzled economic theory for decades, to arrive at a more adequate description of the current global crisis. The main theoretical innovation is to view the long-run economic evolution as a stepwise evolution of money forms. Moreover, as already indicated in the title, this development of money forms is closely linked to the development of social institutions, in particular of state institutions. Capital, the most recent form of money, today has to be understood as an omnipresent algorithm, as a growth imperative implicit in social institutions and internalized models. The task of evolutionary political economy thus will be to provide an adequate theoretical counterpart to mirror these processes. This paper explores how far a careful reconsideration of received economic theory can contribute to this task.
2013-02-11
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/47166/1/MPRA_paper_47166.pdf
Hanappi, Hardy (2013): Money, Credit, Capital and the State: On the evolution of money and institutions.
en
oai:mpra.ub.uni-muenchen.de:48646
2019-09-28T13:04:09Z
7374617475733D707562
7375626A656374733D42:4232:423234
7375626A656374733D42:4233
7375626A656374733D42:4235
7375626A656374733D42:4235:423530
74797065733D7061706572
https://mpra.ub.uni-muenchen.de/48646/
Trends in Value Theory since 1881
Freeman, Alan
B24 - Socialist ; Marxist ; Sraffian
B3 - History of Economic Thought: Individuals
B5 - Current Heterodox Approaches
B50 - General
Abstract:
This is a prepublication version of an article which originally appeared in the World Review of Political Economy. Please cite as Freeman, A. 2010. ‘Trends in Value Theory since 1881’, World Review of Political Economy Volume 1 No. 4, Fall 2010. pp567-605.
The article surveys the key ideas and currents of thinking about Marx’s value theory since he died. It does so by studying their evolution, in their historical context, through the lens of the Temporal Single System Interpretation (TSSI) of Marx’s ideas, an approach to Marx’s theory of value which has secured significant attention in recent years. The article explains the TSSI and highlights the milestones which led to the evolution of its key concepts.
2010-12-07
MPRA Paper
NonPeerReviewed
application/pdf
en
https://mpra.ub.uni-muenchen.de/48646/1/MPRA_paper_48646.pdf
Freeman, Alan (2010): Trends in Value Theory since 1881. Published in: World Review of Political Economy , Vol. 1, No. 4 (30 December 2010): pp. 567-605.
en
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