We identify the origin of the contradicting perspectives on credit creation offered by Austrian, Mainstream and Post Keynesian economists as the neglect of the primacy of such assets as goods, properties and securities, which always pre-exist any transaction and loan. We develop a unified...

In responding to the extremely weak global economy after the financial crisis in 2008, many industrial nations have been considering or have already implemented negative nominal interest rate policy. This situation raises two important questions for monetary theories: (i) Given the widely held...

The present study identifies and analyzes, critically evaluating, the contributions and shortcomings of the following theories, approaches and models, which are attempting to explain post factum the creation of international joint ventures in the practice: transaction costs theory and its...

This paper examines the revival of political economy in various forms in the last decades. The first part is dedicated to the evolution of the definition of the economic science to lay the foundation of a better understanding of the current use of the term “political economy”. The second...

This essay is a comment on “Sen on Freedom and Gender Justice,” by Mozaffar Qizilbash, which appeared in Feminist Economics Volume 11, Number 3, November 2005. Building on the 2003 double special issue of Feminist Economics entitled “Amartya Sen's Work and Ideas,” this paper responds to...

The individual, economic agent has antecedents and consequences that shape her perceptions of the world, in other words, form the individual’s mental models. Furthermore, the individual is a totality of mental models, which shape perception and influence the selection of relevant models...

Translated from the Italian by Antoine Godin. The article gives an appraisal of Augusto Graziani's thought as a heterodox structural Keynesian. Graziani has always challenged the basic assumptions of orthodox theory by rejecting the initial definition of the economic and social world as being...

This article provides a thick description (Geertz, 1973) of sustainability economics. Baumgärtner and Quaas (2010a, b) have proposed as an alternative to ecological economics the new field of sustainability economics, which has triggered various replies. The purpose here is to order and to...

İlgi alanının sınırlarının dışıyla ilgisini kesmiş neoklasik iktisadın iktisadi düşünce üzerindeki belirleyiciliğini göz önüne aldığımızda iktisadi düşünceye dair yeni düşünceler geliştirme yolunda komşu sosyal bilim disiplinlerinin kaynaşmasının ne denli...

This study presents a variant for synthesis of the essential categories utility and value on the level of society. The labour theory of value and the theory of marginal utility are the starting base. Worth (as distinct from value) is the integrating category. That is why the synthesis can be...