Showing 1 - 10 of 107
In recent years, comparative economics experienced a revival, with a new focus on comparing capitalist economies. The …
Persistent link: https://www.econbiz.de/10012469090
When asked to name one proposition in the social sciences that is both true and non-trivial, Paul Samuelson famously replied: 'Ricardo's theory of comparative advantage'. Truth, however, in Samuelson's reply refers to the fact that Ricardo's theory of comparative advantage is mathematically...
Persistent link: https://www.econbiz.de/10012460690
Economics is not only a social science, it is a genuine science. Like the physical sciences, economics uses a …, economics stresses three factors that distinguish it from other social sciences. Economists use the construct of rational … have allowed economics to invade intellectual territory that was previously deemed to be outside the discipline's realm …
Persistent link: https://www.econbiz.de/10012471484
This review considers the evolution of economic thinking on the relationship between digital technology and inequality across four decades, encompassing four related but intellectually distinct paradigms, which I refer to as the education race, the task polarization model, the...
Persistent link: https://www.econbiz.de/10013210102
Akerlof and Dickens (1982) suggested that in a model of criminal behavior which considered the effects of cognitive dissonance, increasing the severity of punishment could increase the crime rate. This paper demonstrates that that conjecture was correct. With cognitive dissonance, people may...
Persistent link: https://www.econbiz.de/10012477191
Although many economists, most notably Strotz, have discussed dynamic inconsistency and precommitment, none have dealt directly with the essence of the problem: self-control. This paper attempts to fill that gap by modeling man as an organization. The Strotz model is recast to include the...
Persistent link: https://www.econbiz.de/10012478927
I discuss the role of economic theory in empirical work in development economics with special emphasis on general … main arguments using examples from recent work in development economics and political economy …
Persistent link: https://www.econbiz.de/10012462707
For a long while after the explosion of macroeconomics in the 1970s, the field looked like a battlefield. Over time however, largely because facts do not go away, a largely shared vision both of fluctuations and of methodology has emerged. Not everything is fine. Like all revolutions, this one...
Persistent link: https://www.econbiz.de/10012464389
Neither economics nor political science can explain the process of modern social development. The fact that developed … societies always have developed economies and developed polities suggests that the connection between economics and politics … must be a fundamental part of the development process. This paper develops an integrated theory of economics and politics …
Persistent link: https://www.econbiz.de/10012465864
Theoretical advances in macroeconomics made in the last three decades have had a major influence on macroeconomic policy analysis. Moreover, over the last several decades, the United States and other countries have undertaken a variety of policy changes that are precisely what macroeconomic...
Persistent link: https://www.econbiz.de/10012466188