Purpose – The purpose of this paper is to explore the view that economic science is invented to support political regimes and not to find solutions to the economic problems of the society. Design/methodology/approach – Without virtue and the sense of justice, science does not serve wisdom,...

The analysis of the standard balanced‐budget multiplier is based on the suppositions that the general price level and interest rates are fixed and that the equal changes in government expenditures and taxes are autonomous. However, no explicit assumption is made about the timing of the dynamic...

Seeks to compare and conjoin three separate revolutionary movements in eighteenth century western society, led respectively by James Watt – technology, Adam Smith ‐economics and Thomas Jefferson – politics. Explores a contemporaneous link for all three and even a social connection in the...