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Wicksell, secular stagnation and the negative natural rate of interest

Boianovsky, Mauro - 2016

Knut Wicksell's concept of the natural (or neutral) rate of interest, introduced between the end of the 19th and beginning of the 20th centuries, has played an important role in modern monetary macroeconomics, especially after the development of inflation targeting policy in the 1990s. More...

Persistent link: https://www.econbiz.de/10011613807

Austerity and repressive politics: Italian economists in the early years of the fascist government

Mattei, Clara Elisabetta - 2015

The historical forerunners of contemporary austerity are still largely unexplored. This essay considers the "liberal phase" of Fascist Italy (1922-1925) as a case study to explain austerity as a full-blown rationality, that is intrinsically, and simultaneously, theory and practice, encompassing...

Persistent link: https://www.econbiz.de/10011335949

An unexpected discovery: Johann Heinrich von Thuenen and the tragedy of the commons

Nellinger, Ludwig - 2014

William Forster Lloyd's 1833 sketch about poor cattle on the commons and the well-fed animals on the adjacent enclosures published in his 'Two lectures on the checks to population' has hitherto been assessed as one starting point of the economics of renewable resources. In the 20th century the...

Persistent link: https://www.econbiz.de/10010333113

Economic Growth in the very Long Run. On the Multiple-Phase Interaction of Population, Technology, and Social Infrastructure

Day, Richard H.; Walter, Jean-Luc - 1988

Economic growth in the very long run is described by a multiple-phase, dynamic process with potentially complex dynamics during transitions between regimes. Technology is assumed to rest on a managerial-administrative infrastructure which influences natality, mortality and the productivity of...

Persistent link: https://www.econbiz.de/10010334887

Orthodoxer Mainstream und Heterodoxe Alternativen: Eine Analyse der ökonomischen Wissenschaftslandschaft

Quaas, Friedrun - 2014

Die moderne Volkswirtschaftslehre als wissenschaftliche Disziplin ist einerseits durch große Uneinheitlichkeit geprägt, die andererseits selbst in Zeiten der Krise der Theorie anscheinend nicht nachhaltig in ein öffentliches Bewusstsein vordringen konnte. Nach wie vor wird die Ökonomik...

Persistent link: https://www.econbiz.de/10010352773

Is equilibrium enough and was Stigler wrong? Value theory in the Böhm-Bawerk / Fisher controversies

Cohen, Avi J. - 2011

The interest-rate controversies between Böhm-Bawerk and Fisher have attracted little attention and, in the opinion of … most commentators, justifiably so. Böhm-Bawerk and Fisher argue over what appear to be two minor issues – Böhm … cases. Subsequent commentators, including Stigler, have taken Fisher's side, arguing that Böhm-Bawerk "fails to understand …

Persistent link: https://www.econbiz.de/10011592184

The Origin of the Sylos Postulate: Modigliani's and Sylos Labini's Contributions to Oligopoly Theory

Rancan, Antonella - 2012

Paolo Sylos Labini's Oligopoly Theory and Technical Progress (1957) is considered one of the major contributions to entry-prevention models, especially after Franco Modigliani's famous formalization. Nonetheless, Modigliani neglected Sylos Labini's major aim when reviewing his work (1958),...

Persistent link: https://www.econbiz.de/10011592197

First principles, fallibilism, and economics

Hoover, Kevin D. - 2017

The role of first principles in economics is examined through the lens of dominant methodological approaches of the classical and neoclassical periods. First principles are most clearly displayed in pure deductive systems. The tension between first principles as the basis for deductivist...

Persistent link: https://www.econbiz.de/10011613817

Reincorporating Friedrich von Wieser and the concept of power into the Austrian research program

Kolev, Stefan - 2017

This paper constitutes the start of a project dedicated to Austrian economist and economic sociologist Friedrich von Wieser (1851-1926). Its central claim is that especially in recent decades, Wieser has become a disproportionately underresearched scholar, and the paper provides a set of...

Persistent link: https://www.econbiz.de/10011613822

Social nudging with condorcet juries and its strategic implications for a paternalistic implementation of LED bulbs

Kalmbach, Bettina - 2016

In the light of irrational behaviour and decision biases leading people to commit systematic blunders, Thaler and Sunstein (2003) presented in their approach of libertarian paternalism the concept of choice architecture, to face the problem of wrong decisionmaking and resulting welfare losses by...

Persistent link: https://www.econbiz.de/10011617354

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