Bentham's pioneering contribution in the field of Law & Economics and in the economic analysis of politics has sometimes been stressed by commentators. This paper aims to highlight the economic dimension that was present in Bentham's legal and political writings. Accordingly, the paper examines...

Adam Smith was not a single-minded advocate of a laissez-faire market in which the minimal State had no more than a protective function. Rather, he was a pragmatic social thinker who in each case selected the tool that was the best suited to his meta-objective of rapid economic growth....

The paper unravels the subversive nature of Schumpeter’s proposition that entrepreneurs carry out innovations (the micro level), that swarms of followers imitate them (meso) and that, as a consequence, 'creative destruction’ leads to economic development 'from within’...

It is one of the assumptions of this paper that what is usually considered as a single hedonistic tradition was in fact the result of very different approaches to the analysis of individual decisions. Some of the differences between these approaches were also discussed by authors who aimed at...

Part of a Symposium entitled, "Say's Law Revisited," this note is dedicated to showing that both Say's and Ricardo's concerns about unemployment were deeper than even the Kates article (in this symposium) suggests, that this concern even led Say to advocate a clear Keynesian remedy for...

When the Classical economists asserted the "impossibility of general overproduction," or what we now call Say's Law of Markets, they had in mind not periodic crises or business cycles but secular stagnation. Could the capitalist system absorb the constant increases in output without breakdown...

This paper analyzes Adam Smith's theory of charity toward the poor. Two sources of private charity market failure are identified which lend support to the view that Smith's writings justify government intervention on behalf of the poor. First, the poor tend to conceal their condition out of...

Article that appeared as Zarembka, P (ed) Economic Theory of Capitalism and its Crises, Research in Political Economy 18, pp285-93. Stanford, CT: JAI Press. (http://www.elsevier.com/wps/find/bookdescription.cws_home/621298/description#description) Responds to debate initiated in Research in...

This text comprises chapter 13 of Marx and non-equilibrium Economics[1]. It provides a general mathematical specification of a non-equilibrium interpretation of Marx’s theory of value. It refutes the Okishio theorem and solves the transformation problem. It is a foundation work of scholarship...