Neoclassical economic theory, with its roots (partly) in the marginal revolution of the Nineteenth Century, has been the dominant paradigm for economic thought throughout most of the Twentieth Century?up to the present day. However, for the past several decades economists have been deeply...

Socioeconomic stability with receding international conflict is closer at hand due to two modern developments: (1) A general recognition and acceptance of the permanent nuclear détente between major powers, allowing international cooperation for the common good; and (2) The deepening of...

In his pivotal contributions during the marginal revolution, Leon Walras along with W.S. Jevons assigned subjective utility directly to commodities (goods and services) as, in effect, a simplifying assumption — an assumption destined to become the keystone of neoclassical economics. But this...

A prominent quality of the natural sciences is the integration of formerly separate or distinct branches of investigative learning, and a similar unification is now underway in the human sciences. Socialism and capitalism may also be united, on the same foundation: While the canonical Gossen...

The significant difference in saving rates between the United States (near-zero) and the developing nations (exceeding 30%) is a contributing explanation for the record U.S. current-account deficit, now almost 700 billion USD per year. Analytic support for this conclusion is provided herein by...

The emotive (Gossen) equation in conjunction with its expectational constraints, comprising a formulation or model of the individual's expectational plan, is applied to elementary cases in economics and social psychology thereby uniting psychology, social psychology, and economics within one...

It is, of course, true of science that deeper theory opens new vistas, and economics may now justifiably advance to a more essential paradigm. The basis for this deeper theory is empirical (cardinal and measurable) instant utility (feeling state, Dolan [2002]) - the time derivative of utility...

One of the hallmarks of a distressed economy is the spread between the nation's government bond yield and the yield of comparable U.S. Treasuries It is understood that this spread can be symptomatic of an important level of economic distress in the developing nations. Many believe that this...

Justice and well-being are of course necessary conditions for a peaceful world order, and we move closer to this goal as our understanding of social and economic behavior becomes more complete. Here it is certainly true that our knowledge of capital-function in mainstream economics is...