Die Begriffe Wohlfahrt und Wohlstand werden in ihrem dogmenhistorischen Entstehungskontext untersucht. Dabei wird zum einen der Schwerpunkt auf die von den Physiokraten, aber auch von John Stuart Mill, W. Stanley Jevons und sogar von deutschen Ordoliberalen thematisierten Wachstumsgrenzen gelegt...

Formal analysis, in which maximizing agents use today's "true" model of the economy to form expectation upon which they then base their behaviour, trivializes the role of the future in economic life and ignores the possibility that the past's models, which helped generate the data against which...

This chapter surveys the classificatory approaches of business cycles and crises theories found in dictionary articles. These are found to belong to a surprisingly small number of types. At first, dictionary writers only cited the theories they wanted to disprove. Then (especially in Germany in...

A. Hansen's gross error concerning J M Keynes's analysis in chapter 14 on pp. 180-181 of the General Theory in his A Guide to Keynes changed the course of economic thought and economic history for the worse due to the millions of economics students who, instead of reading the General Theory,...

In den Wirtschaftswissenschaften lassen sich zwei Theorietypen unterscheiden: Die "idealistische Ökonomie" geht von einem Idealzustand aus und untersucht die Bedingungen, unter denen dieser erreicht werden kann wie die Eigenschaften des "homo oeconomicus". Die "realistische Ökonomie" geht vom...

This paper is a short history of the Indian economy since 1968. India today is a changed country from what it was half a century ago, when Myrdal published his Asian Drama. The stranglehold of low growth has been broken, its population below the poverty line has fallen markedly, and India has...

Robert Triffin became famous with his trenchant analyses of the vulnerabilities of the Bretton Woods system. These are still at the center of many discussions today. This paper argues that there is a remarkable continuity in Triffin's work. From his earliest writings, Triffin developed a vision...

The positions of British and German economists on public debt in the long 19th century differed substantially from each other. While British classical economists regarded any public debt as ruinous for the country, German economists promoted debt accumulation for productivity-enhancing public...

Our forthcoming book, Welfare Theory, Public Action and Ethical Values challenges the belief that, until modern welfare economics introduced issues such as justice, freedom and equality, economists adopted what Amartya Sen called “welfarism.” This is the belief that the welfare of society...