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Baumol, William J. - In: Journal of Economic Perspectives 13 (1999) 1, pp. 195-204

What is perhaps most curious about 'Say's law' is the continuing disagreement on its substance and to whom it should be credited. John Maynard Keynes summarized the law as 'supply creates its own demand' but it is now generally agreed that Keynes did not get it quite right. The author has been...

Persistent link: https://www.econbiz.de/10005820021

Ronald Coase and Methodology

Posner, Richard A. - In: Journal of Economic Perspectives 7 (1993) 4, pp. 195-210

Ronald Coase wrote two great theoretical articles that earned him the Nobel Prize: "The Nature of the Firm" in 1937 and "The Problem of Social Cost" in 1960. He also wrote many articles dealing with the methodology of economics, often in the setting of a discussion of a particular economist,...

Persistent link: https://www.econbiz.de/10005560946

Was Schumpeter Right after All?

Heilbroner, Robert - In: Journal of Economic Perspectives 7 (1993) 3, pp. 87-96

In Capitalism, Socialism, and Democracy (1947) Schumpeter asks "Can capitalism survive?" He answers: "No. I do not think it can." In an essay I wrote in 1981 entitled "Was Schumpeter Right?" I began with the words: "No. I do not think he was." Now, over a decade later, I wish to reconsider the...

Persistent link: https://www.econbiz.de/10005563128

Retrospectives: Hume on Money, Commerce, and the Science of Economics

Schabas, Margaret; Wennerlind, Carl - In: Journal of Economic Perspectives 25 (2011) 3, pp. 217-30

Monetarist persuasions. In this essay, we begin by discussing Hume's monetary economics, and then spell out his theory of …

Persistent link: https://www.econbiz.de/10009251369

The Ethology of Homo Economicus

Persky, Joseph - In: Journal of Economic Perspectives 9 (1995) 2, pp. 221-231

Early critics of John Stuart Mill attacked him for creating a monomaniacal economic man concerned only with the accumulation of money. In fact, Mill's construct possessed a considerably richer psychology including desires for leisure, luxury, and sexual relations. This psychology played a...

Persistent link: https://www.econbiz.de/10005820037

Retrospectives: Classical Family Values: Ending the Poor Laws as They Knew Them

Persky, Joseph - In: Journal of Economic Perspectives 11 (1997) 1, pp. 179-189

Poor law reform in the early 1830s provides a key example of the deep conflicts between classical liberal principles of self-reliance and the realities of dependency. Eminent economists, such as Nassau Senior and Thomas Malthus, argued that the dependency of women and children calls forth and...

Persistent link: https://www.econbiz.de/10005563059

Matthew Gentzkow, Winner of the 2014 Clark Medal

Shleifer, Andrei - In: Journal of Economic Perspectives 29 (2015) 1, pp. 181-92

number of significant contributions to empirical industrial organization more broadly, as well as to applied economic theory …

Persistent link: https://www.econbiz.de/10011156816

Retrospectives: John Maynard Keynes, Investment Innovator

Chambers, David; Dimson, Elroy - In: Journal of Economic Perspectives 27 (2013) 3, pp. 213-28

John Maynard Keynes made a major contribution to the development of professional investment management. Based on detailed archival research at King's College, Cambridge, we describe Keynes' investment philosophy, his investment performance, and the evolution of his investment approach as the...

Persistent link: https://www.econbiz.de/10010815761

Jonathan Levin: 2011 John Bates Clark Medalist

Einav, Liran; Tadelis, Steve - In: Journal of Economic Perspectives 26 (2012) 2, pp. 207-18

himself as a leader in the fields of industrial organization and microeconomic theory. Jon has made important contributions in … distinct areas such as economic theory and econometric methods to applied work that seamlessly integrates theory with data. In …

Persistent link: https://www.econbiz.de/10010815779

Retrospectives: The Introduction of the Cobb-Douglas Regression

Biddle, Jeff - In: Journal of Economic Perspectives 26 (2012) 2, pp. 223-36

At the 1927 meetings of the American Economic Association, Paul Douglas presented a paper entitled "A Theory of … theory and policy. This essay provides an account of the introduction of the Cobb-Douglas regression: its roots in Douglas … Douglas's 1934 book The Theory of Wages, and the early reactions of economists to this new empirical tool. …

Persistent link: https://www.econbiz.de/10010815803

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