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Thrift was not the cause of the Industrial Revolution or its astonishing follow on. For one thing, every human society must practice thrift, and pre-industrial Europe, with its low yield-seed ratios, did so on a big scale. British thrift during the Industrial Revolution, for another, was rather...
Persistent link: https://www.econbiz.de/10008574606
The “machinery question” was developed by the economist David Ricardo (1772–1823) in the chapter “On Machinery” added … the “influence of machinery on the interests of the different classes of society” and particularly to the “opinion … entertained by the labouring class, that the employment of machinery is frequently detrimental to their interests”. Ricardo …
Persistent link: https://www.econbiz.de/10008561134
Indonesia is one of the world important suppliers of young trainees in Japan. We present a preliminary study’s result on Indonesian trainees in Japanese SMEs and their potential to develop micro-small business in Indonesia. This paper utilizes three step approaches. First, an online survey of...
Persistent link: https://www.econbiz.de/10005835848
The present study analysed time series data of 37 developed and less developed countries over the period 1976-2002. It shows that in the majority of cases (including France, UK and USA) the stock market turnover ratio - an important indicator of stock market development- has no positive...
Persistent link: https://www.econbiz.de/10005837413
In our view, the causes of the crisis are tied to the political change towards a Neoliberal phase from the 1970s on: a wide process of “deregulation” – from the labour market to the globalisation of production, from the national to the international finance – has allowed a partial...
Persistent link: https://www.econbiz.de/10011258120
From Adam Smith’s perspective, the most prominent macroeconomic happening of the post-World War II period was not the Great Moderation, nor was it the recent Great Recession. Instead, it was the secular deceleration in economic growth occurring in the U.S., or the Great Deceleration. Smith’s...
Persistent link: https://www.econbiz.de/10011258534
In this paper we introduce investment specific technical progress into Pasinetti’s model of structural change. Our aim is to assess effects of embodied technical progress on structural change. Our findings suggest that despite the fact that this type of technical progress increases the...
Persistent link: https://www.econbiz.de/10011258787
In this paper we introduce investment specific technical progress into Pasinetti’s model of structural change. Our aim is to assess effects of embodied technical progress on structural change. Our findings suggest that despite the fact that this type of technical progress increases the...
Persistent link: https://www.econbiz.de/10011259711
This paper deals with the long cycles that characterize the evolution of capitalist economies. It begins with a discussion of epochs of expansion and contraction in the level of economic activity and makes an effort to move towards a meaningful periodization of economic history. The claim that...
Persistent link: https://www.econbiz.de/10011261049
The analytical framework of this paper makes use of a hexa-variate panel vector autoregressive (PVAR) approach on balanced annual panel data from 30 sampled import-dependent developing economies for the period, 1970-2006. The variables included in the empirical PVAR model are inflation, capital...
Persistent link: https://www.econbiz.de/10008876892