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methods and theory types used by scholars identifies key strengths and weaknesses of each. Different schools of heterodox … [that is, non-neoclassical] economics, as well as neoclassical economics itself, emphasize different sets of theory and … heterodox schools, like neoclassical economics itself, tend to act as if it were thought that their theory and method were …
Persistent link: https://www.econbiz.de/10010885983
Resistance to change is not a new concept in economic literature (Coch and French 1948, Boulding 1956). However, in the last few decades it has acquired specific connotations and meanings that deserve attention. The first aim of the paper is to analyze how the concept has evolved since its...
Persistent link: https://www.econbiz.de/10005835904
approaches to organization of economic affairs. Neoclassical theory is centered around the acquisitive instinct of humans, and … choose between the two; their behavior is not subject to mathematical laws postulated by neoclassical economic theory. The …
Persistent link: https://www.econbiz.de/10005836356
In an institutional framework, intangible Asset Accountancy is a convenient thing for business, but it does not necessarily find a worth theoretical justification. Within perfect information and continuous activity assumptions, it remains demonstrated that the concept of intangible stands for a...
Persistent link: https://www.econbiz.de/10005836926
The main objective of this paper is to discuss the role of evaluative incompleteness in the work of Amartya Sen. In section 2, we consider Sen’s distinction between optimising or perfect choices and maximising or acceptable choices, showing it is based on a restrictive interpretation of...
Persistent link: https://www.econbiz.de/10010678558
The core problem of economics is that the representative economist never managed to keep political and theoretical economics properly apart. The mixture is toxic indeed. As Joan Robinson said about what parades as economics: Scrap the lot and start again. Yet, the question then arises where to...
Persistent link: https://www.econbiz.de/10011145375
Amartya K. Sen’s body of work is an unrelenting project that consistently and coherently re-focuses the attention of economists and economics towards foundational questions. His capabilities framework has offered an expanded space of evaluation to directly judge the well-being of people and...
Persistent link: https://www.econbiz.de/10011148592
empirical evidence shows that individuals are not only selfish and competitive beings as stated in orthodox economic theory, but …
Persistent link: https://www.econbiz.de/10011152900
In the wake of the Financial Crisis and the subsequent Great Recession several commentators have suggested that the analysis of financial instability provided by various strands of heterodox economics got it "right" and that mainstream economics got it "wrong". In this paper two variants of...
Persistent link: https://www.econbiz.de/10011156996
) both approaches adhere to a monetary theory of the business cycle and explain, in their respective ways, the non … approaches an attempt is made to provide the theory of the business cycle with adequate micro-foundations as well as with price …-rate mechanism; (b) the identification of the relevant institutional context; (b) the role of capital and capital theory; (c) the …
Persistent link: https://www.econbiz.de/10011157002