The aim of this paper is to provide an outline of the development of the theory of exchange, concentrating on the less well-known development of the formal model which culminated in the contribution of Edgeworth. The importance of exchange, viewed as the central economic problem for the early...

This paper tells you everything you need to know in order to impress your friends with your knowledge of the most famous people and the useful past of the subject of economics. However, it is recommended that this paper should not be read in the company of anyone who reads dusty old books, and...

This paper outlines the conditions under which the stationary probability distribution function (PDF) of an autonomous Ito process stochastic diffirential equation (SDE) belongs to the generalized exponential family (GEF) of densities and the interaction between economic equilibria and...

There is now a large and complex literature on optimal income taxation, within the context of second-best welfare economics. This paper considers the potential role of this analysis in the practical design of direct tax and transfer structures. It is stressed that few results are robust, even in...

In this paper I look in some detail at one specific aspect of macro distribution theories, namely Keynes's Macro theory of profits.

This paper critically analyses Bateman's interpretation of Keynes's thought as presented in his 1996 book, Keynes's Uncertain Revolution. The book has two main aims. One is to present a 'thick' history of the evolution of Keynes's thinking on probability and uncertainty, by which is meant a...

Should someone who is regarded as a good writer also be a clear writer, especially in subjects such as economics, philosophy and politics? This paper examines the interaction between certain of Keynes's characteristics as a writer and the clarity of his writings. Its central thesis is that lack...

George Stigler, as much if not more than his colleague Milton Friedman, greatly shaped the direction of economics in the post-war era. Part of his ability to do so lay in his critical responses to views that opposed his own fiercely held framework. This paper attempts to supply a consistent...

This paper examines Keynes's thoughts on the economic causes of war. Though an issue upon which the classical economists and their popularisers wrote much, the links between economics and war has become, beyond an unthinking acceptance of the pacific qualities of free trade, an issue largely...