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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/10011610133
During their lives and careers, both Marshall and Keynes visited the United States and expressed views on American … capitalism. Marshall visited the US in 1875, before the advent of the trust question, and then followed the development of the … invest in Wall Street on a large scale. In this paper, we argue that there is "a family resemblance" in Marshall’s and Keynes …
Persistent link: https://www.econbiz.de/10012314807
For most economists at Chicago, Marshall was simply an input, the supplier of an approach to economic analysis. For … Ronald Coase, however, Marshall was much more than this - a subject of fascination and, at times, almost a reverence and … toward Marshall was widespread, and a member of the LSE faculty from 1935 until his departure for the United States in 1951 …
Persistent link: https://www.econbiz.de/10012314973
Persistent link: https://www.econbiz.de/10003012943
In Great Britain the seven years following WWI were marked by rigorous austerity policies. From 1918 to 1925 the main objectives were budget cuts and monetary deflation. Certainly, being the central department for financial policies, the British Treasury had decisive authority in setting such...
Persistent link: https://www.econbiz.de/10011420636
Este artículo relaciona las implicaciones de la teoría sobre los costos de transacción de Ronald Coase. La economía de los costos de transacción (ECT) es un marco teórico de primer orden para la comprensión tanto de las limitaciones para el desarrollo de la empresa; y para advertir...
Persistent link: https://www.econbiz.de/10013076514
For most economists at Chicago, Marshall was simply an input, the supplier of an approach to economic analysis. For … Ronald Coase, however, Marshall was much more than this — a subject of fascination and, at times, almost a reverence and … toward Marshall was widespread, and a member of the LSE faculty from 1935 until his departure for the U.S. in 1951, Coase …
Persistent link: https://www.econbiz.de/10012911130
Widespread academic use of the term "neoliberalism" is of surprisingly recent origin, dating to only the late 20th century. The vast and growing literature on this subject has nonetheless settled on an earlier origin story that depicts the term as self-selected moniker from the Walter Lippmann...
Persistent link: https://www.econbiz.de/10012824722
Marshall's idea of 'representative firm' was created to reconcile his dynamic view of individual firms with the static … view of industries. But this idea was somewhat nebulous and did not last very long in the economics literature. Marshall …
Persistent link: https://www.econbiz.de/10012861642
Ronald Coase (1910-2013), who sadly died at the remarkable age of 102, made significant contributions to economics based on common sense and the detailed study of his topics. Coase was awarded the Nobel Prize in Economic Sciences in 1991 “for his discovery and clarification of the significance...
Persistent link: https://www.econbiz.de/10014152719