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Classical political economy was underpinned by a shared view of the economy as a circular flow. This begged the question of how the value of produce can exceed the value of factor inputs: the ‘Profit Puzzle’. In this paper we advocate an understanding of the Profit Puzzle as a monetary...
Persistent link: https://www.econbiz.de/10008470460
methodology of the analysis of social processes in the conditions of crisis of traditional social philosophy. …
Persistent link: https://www.econbiz.de/10011259500
as well as the precise mechanism that leads the economy to its crisis stage. Keynes’s analysis, although sketchy, has … occupied central importance in the history of economic thought. This paper focuses on Marx and Keynes and argues that Marx … more in common with Marx and Smith than with Ricardo and neoclassical economics. Furthermore, Keynes’s views on effective …
Persistent link: https://www.econbiz.de/10009418516
This paper discusses the relation between law and contingency in the formation of value. It begins from a much-ignored assertion of Marx, repeated throughout his works, that the equality of supply and demand is contingent and their non-equality constitutes their law. This highly complex and...
Persistent link: https://www.econbiz.de/10005789658
exogenous technological change but by repeatedly leapfrogging their competitors through product and process innovation. This … shifts the focus from the mechanical production process to the collaborative innovation process, which requires social …
Persistent link: https://www.econbiz.de/10005619285
Schumpeter’s idea that innovations can be described as new combinations often is understood as a mere metaphor and … proper understanding of these issues would not only enhance our knowledge about observed innovation processes in economic …
Persistent link: https://www.econbiz.de/10008805477
innovation and market structure. The entrepreneur represented by Schumpeter's is strongly creative and innovative to condition to …
Persistent link: https://www.econbiz.de/10009370827
This paper analyses the co-evolution of science, technology and innovation policy and industrial structure in a small … focuses on a particular type of innovation, innovation in resource-based activities, that differs in many respects from the … more commonly studied case of innovation in ‘high-tech’ industries. Third, the paper advances our understanding of the …
Persistent link: https://www.econbiz.de/10008560062
presentation, we use the concept of meme to explore evolution of demand. This study offers an evolutionary model of demand, which … function of quantity. This modification provides an opportunity to see innovation and transformation of consumer preferences in … the demand perspective. Innovation is seen as a change in sequence of memes in economic products, while the transformation …
Persistent link: https://www.econbiz.de/10008548835
The paper discusses the relationship between Arthur Spiethoff and Joseph A. Schumpeter, the men and their works. Had it … not been for Spiethoff Schumpeter would in all probability have forever been lost to scientific work. It was Spiethoff who … Schumpeter's are pointed out. The view of Spiethoff and Schumpeter that cycles are endogenous and cannot possibly be eliminated …
Persistent link: https://www.econbiz.de/10008596371