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The belief that equality of demand and supply determines price and clears the market is universal. Shockingly, this belief is unfounded. It contradicts macro’s claim that equality of demand and supply determines output. It contradicts (new) monetary theory, which claims that equality of demand...
Persistent link: https://www.econbiz.de/10005413280
This article contributes to the explanation of the methodological differences between Cournot and Walras when these … authors apply mathematics to economics. Our article explains the reasons behind Cournot’s refusal when Walras required him to … specific way of considering mathematics in economics. This way differs from the Walras’ one in several aspects. …
Persistent link: https://www.econbiz.de/10009003042
by two emblematic authors, Ricardo and Walras. Divergences between the two theories arise less from their ideological and …
Persistent link: https://www.econbiz.de/10008831601
This paper proposes a textual analysis of Marshall’s theory of firm pricing behavior under competitive conditions. It … considers to what extent average cost and marginal cost pricing rules characterize Marshall’s competitive partial equilibrium …
Persistent link: https://www.econbiz.de/10005622047
Jevons, Menger, Walras and, especially, Böhm-Bawerk. Gustav Cassel was inspired especially by Walras, but preferred Marshall …Alfred Marshall was by no means ignored, but his influence on Swedish economic thought at the end of the 19th and … to Böhm-Bawerk. There are not many references to Marshall in Heckscher's writings, but there may have been an indirect …
Persistent link: https://www.econbiz.de/10005651727
Marshall's theory of capital was designed to serve two main purposes: an integration of the theory of income … Marshall's theory of capital was the establishment of a functional link between the theory of value and the theory of money. As … a quantity-theorist, Marshall held a "real" theory of the long-period determination of the rate of interest, in the …
Persistent link: https://www.econbiz.de/10011111391
The paper examines the development over time of Marshall's theoretical position, with the purpose of assessing its … place in the history of economic thought. Marshall's work, concerned with the theoretical implications of structural changes … of its original historical context. Both the innovative character of Marshall's early theoretical work and the inner …
Persistent link: https://www.econbiz.de/10011112147
problemática se aborda a través de un análisis comparativo del pensamiento de Jeremy Bentham y de Leon Walras en tres áreas …
Persistent link: https://www.econbiz.de/10009404542
In developing their pure-exchange equilibrium models, Jevons [1871], Walras [1874–77], and Edgeworth [1881] make use of … carry its effects through. In this paper, after reconstructing Jevons’s, Walras’s, and Edgeworth’s respective positions, we … critically discuss Negishi’s critique of Edgeworth’s stance on Jevons’s law of indifference, Walras’s equilibrium, and the role …
Persistent link: https://www.econbiz.de/10010604147
This paper was presented to the Brasilian Society for Political Economy at its 1998 conference. It presents the principal differences between the temporal and the simultaneist approach to the theory of value. It was the first paper to present a formal conceptual analogy between the temporal...
Persistent link: https://www.econbiz.de/10005837170