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The Neoclassicals’ Conundrum : If Adam Smith Is the Father of Economics, It Is a Bastard Child

Valdes Viera, Oscar - 2017

Neoclassical economists of the current era frequently pay lip service to Adam Smith's theories to certify the validity of natural-laws-based, laissez-faire policies. However, neoclassical theories are fundamentally disconnected from Adam Smith's notion of value, his understanding of the economic...

Persistent link: https://www.econbiz.de/10012951067

Lectures on John Maynard Keynes’ General Theory of Employment, Interest and Money (2) : Chapter 2, 'The Postulates of the Classical Economics'

Ferguson, Brian S. - 2013

Chapter 2 is one of the most important chapters in the General Theory. Not only does it set out Keynes' disagreements with key elements of the classical model, it lays out his own model of the working of the labour market, which underlies the analysis in the remainder of the General Theory. The...

Persistent link: https://www.econbiz.de/10013077473

‘Value is Not a Fact’ : Reproduction Cost and the Transition from Classical to Neoclassical Regulation

Giocoli, Nicola - 2016

The paper draws on Siegel (1984) to argue that, while paving the way for constitutionalizing the free market in Lochner v. New York (1905), the reproduction cost method that the Supreme Court established in Smyth v. Ames (1898) as the preferred technique for assessing the “fair value” of a...

Persistent link: https://www.econbiz.de/10012998610

Sraffa on Marshall's theory of value in the Cambridge lectures : achievements in an unfinished criticism

Trezzini, Attilio - In: The European journal of the history of economic thought 28 (2021) 1, pp. 103-125

Persistent link: https://www.econbiz.de/10012484171

Theories of value and ultimate standards in Sraffa's notes of summer 1927

Fratini, Saverio M. - In: Bulletin of political economy 12 (2018) 1/2, pp. 35-53

Persistent link: https://www.econbiz.de/10012167350

The classical roots of the Austrian theory of capital and entrepreneurship

Meacci, Ferdinando; Ferlito, Carmelo - 2018

The paper deals with the continuities and discontinuities between some classical, Austrian and neo-Austrian authors with regard first to the theory of capital and then to the theory of entrepreneurship. Part I focuses on the elements of continuity between the classical and the Austrian theory of...

Persistent link: https://www.econbiz.de/10011895094

The Classical Concept of Saving and the Stockholm School

Arthmar, Rogerio - 2003

This paper explores the connections between the theories of the Stockhom School and the economic orthodoxy of the 1930's. First, we reconstitute the classical, Cambridge and Wicksell's conceptions on saving and its relations with investment. Next, we define the unifying principle behind the...

Persistent link: https://www.econbiz.de/10014075414

(Mis)understanding Classical Economics

Thomas, Alex M. - 2011

In 1936, Keynes published The General Theory of Employment, Interest and Money, one of the most influential books in economics of the twentieth century. With this publication, Keynes has confused and will continue to confuse generations of economists as to what classical economics means. This...

Persistent link: https://www.econbiz.de/10014186273

(Mis)understanding Classical Economics

Thomas, Alex M - Volkswirtschaftliche Fakultät, … - 2011

Persistent link: https://www.econbiz.de/10008839469

The 'Invisible Handout?' Smith, J. S. Mill and Marshall on Inequality and Progress

Bradley, Michael E. - 2011

Adam Smith, John Stuart Mill and Alfred Marshall shared a concern over excessive inequality of wealth and income, along … Marshall's analysis that would reduce inequality of wealth and income in a growing free market economy? I begin with Smith … Victorian, Marshall thought that raising per capita output and income would play a large part of attaining higher living …

Persistent link: https://www.econbiz.de/10013130143

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