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Persistent link: https://www.econbiz.de/10003499567
estimate financial returns to collecting the works of ten eminent political economists and develop a price index for this …
Persistent link: https://www.econbiz.de/10012437910
We describe and compare the experiences of academic exclusion of Alexander Del Mar, J.A. Hobson, and Gordon Tullock. While aspects of the circumstances differed, a common element was academic exclusion because of challenges to mainstream views. Alexander Del Mar, J.A. Hobson, and Gordon Tullock...
Persistent link: https://www.econbiz.de/10011481205
Friedrich Hayek's The Road to Serfdom is an influential book more than seventy years after its publication. This paper examines his arguments and finds that they come up short in many ways and suggests that we have taken "another road to serfdom". Hayek's mind was completely closed to the...
Persistent link: https://www.econbiz.de/10011497774
The paper analyses the evolvement and effects of central bank crisis management since the mid 1980s based on a Hayek-Mises-Wicksell overinvestment framework. It is shown that, given that the traditional transmission mechanism between monetary policy and consumer price inflation has collapsed,...
Persistent link: https://www.econbiz.de/10011561161
Persistent link: https://www.econbiz.de/10003624695
This paper explores the possibility of international technology transfer in lieu of trade in a model with absolute and … partner against a fee and both the countries might gain. Thus, gains from trade might be dominated by gains from technology … transfer depending on the extent of comparative and absolute advantages. We provide detailed conditions under which free trade …
Persistent link: https://www.econbiz.de/10012584221
Macroeconomic theory has developed into increasingly sophisticated mathematical models. In the words of Mankiw, macroeconomics has developed from engineering into science. The Global Financial Crisis (GFC) revealed that the empirical relevance and the usefulness of these models is debatable. Why...
Persistent link: https://www.econbiz.de/10012211109
Marx made significant contributions to macroeconomics, laying the grounds for both Keynes's theory of aggregate demand and Schumpeter's theory of creative destruction. His law of the tendency of the rate of profit to fall parallels Alvin Hansen's theory of secular stagnation which has recently...
Persistent link: https://www.econbiz.de/10011653595
Updating the study by Seiler and Wohlrabe (2013) we use archetypoid analysis to classify top economists. The approach … from 776 top economists we identify four archetypoids. These types represent solid, low, top and diligent performer. Each …
Persistent link: https://www.econbiz.de/10012599140