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This essay reviews new histories of the role of game theory and rational decision-making in shaping the social sciences, economics among them, in the post war period. The recent books The World the Game Theorists Made by Paul Erickson and How Reason Almost Lost Its Mind by Paul Erickson, Judy...
Persistent link: https://www.econbiz.de/10011592253
In October 1956, the RAND Corporation establis hed the Logistics Systems Laboratory (LSL) with the goal of using simulation to translate the broad findings of normative microeconomics into detailed, implementable pr ocedures for US Air Force oper ations. The laboratory was housed in the training...
Persistent link: https://www.econbiz.de/10011592243
The paper investigates Evsey's Domar's introduction of the rate of growth as a variable in economics in the 1940s and 1950s . Domar investigated the nature of what he called the "moving equilibrium" of ec onomic processes with infinite duration. Reactions to Domar' s approach at the time brought...
Persistent link: https://www.econbiz.de/10011592244
In a paper delivered at the December 1955 meeting of the Econometric Society, Paul Samuelson noted that though economists had done "work of high quality and great quantity in the field of taxation," the theory of public expenditure had been "relatively neglected" (1958, 332). Anglo-American...
Persistent link: https://www.econbiz.de/10013412954
R obert W. Clower's article "The Keynesian Counter - Revolution: A Theoretical Appraisal" (1965) deeply influenced the course of Keynesian macroeconomics by contributing to the transition from IS/LM macroeconomics to fix - price theories. Des pite this influence, no scholar proposed to explain...
Persistent link: https://www.econbiz.de/10011592247
In this review essay of Medema's and Waterman's collection of some of Samuelson's writings in the history of economics, the author argues that Samuelson's claim to have written "Whig History" is spurious. Moreover the author argues that Samuelson's own writings on modern economics are , whether...
Persistent link: https://www.econbiz.de/10011592248
Robert W. Clower's article "A Reconsideration of the Microfoundations of Monetary Theory" (1967) deeply influenced the course of modern monetary economics. On the one hand, it revealed the deadlocks of Don Patinkin's project to integrate monetary and Walrasian value theory. On the other hand, it...
Persistent link: https://www.econbiz.de/10011613806
The interest-rate controversies between Böhm-Bawerk and Fisher have attracted little attention and, in the opinion of most commentators, justifiably so. Böhm-Bawerk and Fisher argue over what appear to be two minor issues – Böhm-Bawerk's claims that his third cause of interest (productivity...
Persistent link: https://www.econbiz.de/10011592184
In the paper I offer some vignettes on my relationship, both professional and personal, with Mark Blaug, and by way of example reflect on his impact on the history of economics.
Persistent link: https://www.econbiz.de/10011592195
The rhetoric of positivism had a profound effect on the worldview and practice of economists in the middle of the last century. Though this influence has greatly diminished, it still may be found in the attitude of many economists towards the history of their discipline. This paper traces the...
Persistent link: https://www.econbiz.de/10011592198