The paper tries to clarify the status of the market in Social Choice and Individual Values. It shows how Arrow at first intended to propose a third theorem of welfare economics (Feldman [1991]), which would show that the market achieves not only Pareto-optimality, but also equitable social...

Rapid fall of communism was a surprise to Romanian economists. They lacked any theoretical guide to explain such a historic event and allow them to analyze economic and social processes that followed. Neither political economy of socialism, neither Keynesian nor neoclassical theory have allowed...

In der Ökonomik tritt der zirkuläre “unechte” Fortschritt auf, der sich z.B. vom kumulativen, besonders für die Naturwissenschaften charakteristischen Fortschritt abgrenzt. Die Ideen- bzw. Dogmengeschichte kann somit eine wertvolle Erkenntnisquelle sein. In diesem Papier wird das Konzept...

Many authors, inspired by the so-called ‘post-Keynesian’ theories, focused their attention on the idea of the ‘Harrod’s foreign trade multiplier’ which is different from the traditional open market Keynesian multiplier. This idea, re-discovered by Nicholas Kaldor, is a topical subject...

In Spanish literature on regional economic analysis, is quoted with some profusion the work of Alfred Marshall. In this paper analyzes the reasons that his work was known with some delay in Spain and why are the issues related to territorial policy —especially topics related to industrial...

The paper deals with the contributions by German-speaking economists in the UK during the Nazi period. It first gives an overview on the emigration of economistsfrom Germany and Austria and the subgroup who came to Britain. Adolph Lowe's reflections on contemporary Britain, liberty, and...

This paper deals with the general concept of the Full Employment Budget (FEB) usually associated with Walter W. Heller as its originator and popularizer. Herein, however, an investigation will be made as to its earlier development by Leon H. Keyserling. This paper will be divided into five...

This paper considers the idea of informality in market exchange, as introduced into the economic development literature by Keith Hart in the 1970s. In addition to Hart (1971, 1973) it will discuss three writers who may be considered his intellectual forerunners. Each, to a greater or less...

The paper aims at tracing the connections between the ideas of Keynes, Knight and Mises on uncertainty and probability. It also studies the links between their economic ideas, ethical presuppositions, and practical implications they drew from their respective theories. Both similarities and...

Purpose – This paper examines whether initial levels in GDP growth, GDP per capita growth and inequality adjusted human development matter in the impact of aid on development. In substance its object is to assess if threshold development conditions are necessary for the effectiveness of...