The property of robustness is defined in connection with macroeconomic models. Models involving saddle-point dynamics are shown not to have this property, raising serious methodological difficulties. Examples from economic growth theory and the theory of inflation are discussed. The proposed...

The concept of quality measurement is revived and given new meaning in this innovative new book. Steven Payson argues that quality measurement is an important issue in the study of price indices and in the additional areas of product innovation and evolutionary change. The user-value definition...

Economists need to understand some fundamental aspects of science in order to measure and analyse the process of technological change. This book explores the interrelationships between economics, science and technology in order to find ways of improving economists' approaches to technical...

The quality of output is of great concern to firms, consumers and regulators and yet firms' decisions concerning quality receive far less attention from economists than quantity or pricing decisions. There is a substantial management literature on product quality which, to some extent, discusses...

The paper discusses the ideological basis of self-management. It considers whether self-management, as an economic system, is consistent with ideologies of Marxism, Anarchism, and Democracy. It goes on to consider the political question as to which groups are likely to oppose and which to...

Academic and applied researchers in economics have, in the last 10 years, become increasingly interested in the topic of chaotic dynamics. In this paper we undertake non-linear dynamical analysis of one representative time series taken from financial markets, namely the Standard and Poor's (S&P)...