Using an analogy with ancient Babylonia as its leading motive, this Viewpoint argues that the credit crisis is the symptom of an underlying problem. Fuelled by government policies, unprecedented debt levels were run up in industrialized countries over the last quarter century. Present policies...

For almost a century, the famous C-K paradigm (formally known as Classics – Keynesian Paradigm) has been the apex of economic debate and research. The paradigm represents two schools of thoughts which, somehow, have prevailed till now. Economists who believe in either of the two schools have...

In order to discuss the ‘rational foundation’ of certain aspects of Quesnay´s theory we use a simple formalization of the necessary connections between assumptions about the techniques in use, the distribution of income between the classes and sectors, the system of relative prices. We...

In modern literature, the concept of work effort is used as an additional explanation of involuntary unemployment. In particular, it is assumed that higher wages have a positive effect on work effort and this is the fundamental point of the efficiency wage models of involuntary unemployment....

This paper examines the concept of hegemony and its historical impacts on the Arabic and Islamic countries. It is foreseen that has long path applied by the Western countries as disclosed by trade applications and history of economic thought. Impacts on Arabic and Islamic countries were visible...

The question of the long-run prospects of profitability and its association with the stage of capital accumulation have occupied central importance in the history of economic thought. This paper focuses on Marx and Keynes and argues that Marx’s analysis, despite its incomplete nature, is...

In this paper we incorporate interdisciplinary New Institutional and Transaction Costs Economics (combining Economics, Organization, Law, Sociology, Behavioral and Political Sciences), and suggest a framework for analyzing and improvement of governance of socio-economics dynamic of agriculture....

This is an analysis of the personality of prof. Epicarmo Corbino (1890-1984), centered on his cultural identity, his vision of economic policy, his way of interpreting the relationship between theory and history and his important activity of politician and statesman. The portrait that emerges is...

This is a review-article on a book edited by M. Guidi and L. Michelini on marginalism and socialism in Italy during the liberal age 1870-1925.

The article examines the ideological and political-economic impact of the strategies of the Danish Prime Ministers Anders Fogh Rasmussen and Lars Løkke Rasmussen as leaders of the liberal/conservative coalition governments 2001-2011.