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The Cobb-Douglas Production Function and Political Economy
Hagendorf, Klaus - 2013
In classical and Marxian political economy economic advancement takes place in stages of development. These stages are characterized by different functional distributions of income. In this paper we show that the Cobb-Douglas Production Function is the only production function which has the...
Persistent link: https://www.econbiz.de/10014198717
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The Great Depression in the Eyes of Bulgaria's Inter-War Economists
Kolev, Stefan - 2016
This paper reconstructs the economic policy debates in Bulgaria during the Great Depression. The goal is twofold. First, it depicts the development of Bulgarian economic thought in the inter-war period and analyzes its intellectual relationships to the evolution of European (especially...
Persistent link: https://www.econbiz.de/10012977134
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From the state theory of money to modern money theory : an alternative to economic orthodoxy
Wray, L. Randall - 2014
This paper explores the intellectual history of the state, or chartalist, approach to money, from the early developers (Georg Friedrich Knapp and A. Mitchell Innes) through Joseph Schumpeter, John Maynard Keynes, and Abba Lerner, and on to modern exponents Hyman Minsky, Charles Goodhart, and...
Persistent link: https://www.econbiz.de/10010252186
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From the State Theory of Money to Modern Money Theory : An Alternative to Economic Orthodoxy
Wray, L. Randall - 2014
This paper explores the intellectual history of the state, or chartalist, approach to money, from the early developers (Georg Friedrich Knapp and A. Mitchell Innes) through Joseph Schumpeter, John Maynard Keynes, and Abba Lerner, and on to modern exponents Hyman Minsky, Charles Goodhart, and...
Persistent link: https://www.econbiz.de/10013057281
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Literature and political economy : an invitation
Bikler, Šimšōn; Nitzan, Jonathan - 2019
Most people think of science and literature as distinct human endeavours. According to received convention, science is mostly about "mind", whereas literature is largely about "heart". Science, goes the argument, is by and large rational, literature primarily emotional. Science is about...
Persistent link: https://www.econbiz.de/10012124836
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Emergence and Entanglement in a Theory of Political Economy
Wagner, Richard E. - 2019
Political economy is a field of study where theorists typically treat polities and markets as separate orders of activity within society. Moreover, the standard mode of analysis treats those entities as existing in states of equilibrium. To the contrary, this essay treats polities and markets as...
Persistent link: https://www.econbiz.de/10012893276
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Still the queens of social sciences? : (post-) crisis power balances of "public economists" in Germany
Pühringer, Stephan - 2016
In spite of the manifold critique about the state of economics in the aftermath of the financial crisis, an even increasing presence of economists and economic experts can be observed in the public sphere during the last years. On the one hand this reflects the still dominant position of...
Persistent link: https://www.econbiz.de/10011889271
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Sir James Steuart on the Origins of the Exchange Economy
Menudo, José Manuel - 2014
This paper examines James Steuart's explanation of the emergence of the exchange economy. An initial hypothesis holds the decisive influence of a plan designed and implemented by merchants. Our proposal evokes the importance, acknowledged by Steuart, of the construction of institutions,...
Persistent link: https://www.econbiz.de/10013046072
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Public Choice and the Virginia Tradition of Political Economy
Wagner, Richard E. - 2014
This is a preliminary draft of the first of what will be eight chapters in a book titled Politics as a Peculiar Business: Public Choice in a System of Entangled Political Economy. This chapter explores some issues regarding the scholarly location of what is often described as the Virginia...
Persistent link: https://www.econbiz.de/10014143721
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The rise of money and class society : the contributions of John F. Henry
Semenova, Alla; Wray, L. Randall - 2015
and consolidation of class society and inequality. Money, class society, and inequality came into being simultaneously, so … harmony and equality, while inequality was growing and solidifying. Rather than "invented" by private traders, money was first … origins of inequality, a well-functioning democratic society has the power to subvert the inequality-inducing characteristic …
Persistent link: https://www.econbiz.de/10010477576