Keynes's essay "Relative Movements of Real Wages and Output" is widely believed to be an important amendment to his General Theory because, in this essay, Keynes relaxed his core assumption of decreasing marginal returns to labour. Non-decreasing marginal returns, however, do not sit comfortably...

Scitovsky is known as a forerunner of behavioural economics simply because he drew heavily on psychology and claimed that people's choices may be "joyless" (Scitovsky, The joyless economy, 1976). However, a careful reformulation of his analysis shows that he anticipated a number of insights...

The paper suggests a consistent interpretation for the much debated Z-footnote on pp. 55-56 of the General Theory and discards claims recently made in the literature concerning the importance of output heterogeneity for Keynes's macroeconomic approach. -- Keynes ; aggregate supply function ;...

The grant element is the “gift portion” of a financial transaction. The mathematical technique for arriving at a precise grant element percentage was first proposed by John Pincus of the RAND Corporation in 1963, and developed mathematically by Göran Ohlin of the Development Centre in 1966....

The paper is a brief account of Georges-Théodule Guilbaud?s (1912-2006) contributions to contemporary aggregative theories. An unnoticed precursor, Guilbaud anticipated on the algebraic conception of aggregation and on the more recent judgment aggregation theory, which generalizes social...

The article investigates Wicksell's change of mind about the machinery question between 1890 and 1900/1901. Wicksell at first sided with the so-called “compensation theory” that workers are not harmed by the introduction of machinery. In his lecture notes of April 1900, made available here...

Die Soziale Marktwirtschaft setzt in ihrer Ausgestaltung zum aktivierenden Sozialstaat auf Buergerschaftliches Engagement, das seit einigen Jahren verstaerkt von der Politik gefoerdert wird. Die Zivilgesellschaft uebernimmt und gestaltet dadurch u.a. Bereiche, die einst hoheitlich vom Staat...

Mit der Verwendung des Buergerbegriffs fuer Konsumenten und Unternehmen erfolgt eine Verschraenkung von Wirtschaftssphaere und politischer Arena, die in einem Spannungsverhaeltnis zu bestehenden Entwuerfen von (Staats-)Buergerschaft steht. Gegenstand des Beitrags ist es, diese Neukonfigurationen...

Interest in the «district» form arose, in Italy, in the context of the debate on the role of small businesses in the Italian and international economy, and intensified during the decade from the mid-1960s to the mid-1970s, when the increasing efficiency of new types of industrialization began...

In his work Arbeit und Boden (Labor and Land) (1889) Otto Effertz outlined the foundations of a "Ponophysiocracy". This book which in its final, strongly modified version Les Antagonismes économiques was published in 1906, had a stronger impact on Adolphe Landry, who praises as well as...