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Is Mainstream Economics a Science Bubble?
Davis, John B. - 2017
This paper uses George Soros' theory of boom--bust cycles to argue that mainstream economics, as built on Samuelson … positive feedback pattern was associated with the “misconception” that when economics is framed as a natural science as per … recognition that this was a “misconception” and the emergence of mainstream economics' performative ambition – the idea that …
Persistent link: https://www.econbiz.de/10012946337
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How to make a super-model : professional incentives and the birth of contemporary macroeconomics
Oddný Helgadóttir - In: Review of international political economy 30 (2023) 1, pp. 252-280
Persistent link: https://www.econbiz.de/10014226493
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From nationalism to neoliberalism : conflict and consensus in the history of Mexican economics
Babb, Sarah - In: Economists in the Americas, (pp. 227-252). 2009
Persistent link: https://www.econbiz.de/10003957988
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Population as a GDP proxy in Adam Smith
Paganelli, Maria Pia - 2021
How do we measure economic growth? In the 18th century, well before the birth of Gross Domestic Product commonly used today, looking at the sign of the balance of trade was a way to take the pulse of a nation’s economy. Adam Smith rejects this measure and instead suggests that we should look...
Persistent link: https://www.econbiz.de/10013233493
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Why Is the Cobb-Douglas Production Function so Popular?
Balk, Bert M. - 2022
It is well known that, in continuous time, the Cobb-Douglas function can be derived from the underlying, data governing, accounting identity under some reasonable assumptions (factor shares are constant, and the weighted growth of the labour input price and the capital input price is constant)....
Persistent link: https://www.econbiz.de/10014080585
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The Thermodynamics of the Economy
Huang, Feng; Zhang, Bohui; Zhao, Xiaofeng - 2023
Anthropogenic production and operating activities give off heat and emit thermal infrared radiation (TIR) as a fundamental result of the laws of thermodynamics. This study examines whether the strength of TIR measures the dynamics of economic activities and development. Using satellite data on...
Persistent link: https://www.econbiz.de/10014351415
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The dismal state of macroeconomics and the opportunity for a new beginning
Wray, L. Randall - 2011
postwar period - from the "Age of Keynes" through the Friedmanian era and the return of Neoclassical economics in a … Markets Hypothesis ; Keynesian Economics ; Orthodoxy ; Heterodox Economics ; Minsky ; Uncertainty ; Rational Expectations …
Persistent link: https://www.econbiz.de/10008906589
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Theories of financial crises : an overview
Detzer, Daniel; Herr, Hansjörg - 2014
This paper analyses financial crises from a theoretical point of view. For this it reviews what different schools of economic thought have to say about financial crises. It examines first the approaches that regard financial crises as a disturbing factor of a generally stable real economy...
Persistent link: https://www.econbiz.de/10010242872
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The socialization of investment, from Keynes to Minsky and beyond
Bellofiore, Riccardo - 2014
An understanding of, and an intervention into, the present capitalist reality requires that we put together the insights of Karl Marx on labor, as well as those of Hyman Minsky on finance. The best way to do this is within a longer-term perspective, looking at the different stages through which...
Persistent link: https://www.econbiz.de/10010457216
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The Dismal State of Macroeconomics and the Opportunity for a New Beginning
Wray, L. Randall - 2011
postwar period - from the Age of Keynes, through the Friedmanian era and the return of Neoclassical economics in a …
Persistent link: https://www.econbiz.de/10013129005