This paper describes the history of the national accounts starting from the incidental estimates by Petty, King and Davenant in the seventeenth century. The period 1930-1950 was a revolution in terms of the roles and uses of the national accounts, e.g. the discovery of input-output analysis,...

This is an essay on the concept of causality in economics, both in an ontological and in a gnoseological sense. That is both as a 'causa essendi' and as a 'causa cognoscendi'.

The paper seeks to integrate the theoretical developments in the field of imperfect competition and monopoly, and operation of the firm in such conditions, with the theories of income distribution, particularly among the macroeconomic aggregates of capital and labor. And formulating a working...

This volume – Predicting Crisis: Five Essays on the Mathematic Prediction of Economic and Social Crises – is the first of three sets of essays. In this first set the economic and social history of the United States is shown to be a “system of movement,” i.e. a logical and mathematic...

This book contains twelve essays on some important Italian economists whose works were mostly published in the 20th century. The essays are written mostlty by non-Italian authors and deal with Vilfredo Pareto (by A. Kirman), Maffeo Pantaleoni (Peter Groenewegen), Enrico Barone (P. C. Dooley),...

Abstract: Recent heterodox economic literature makes reference to Hilferding’s “Finance Capital” and Lenin’s “Imperialism” as early insights on the phenomenon of Financialization of capital. In this regard ideas which became dominant in the left during the first decades of the...

Why would social science need the help from quantum mechanics? First, there are many unanswerable questions in social science. Are financial markets predictable? How to predict the financial markets? These important questions are not answerable in the existing framework of finance or economics....

Resource misallocation can lower aggregate total factor productivity (TFP).We use microdata on manufacturing establishments to quantify the potential extent of misallocation in China and India versus the United States. We measure sizable gaps in marginal products of labor and capital across...

This paper aims to relate the principles of Ronald Coase Theorem with negative impacts of biotechnology, taking cases of specific research groups and medium-sized companies in biotechnology. We consider an application of economic theory on transaction costs (TEC) provides a good foundation for...