Our contribution in this chapter is to address the argument made by philosopher Samuel Freeman (2001) that libertarianism is not a liberal view. Freeman’s argument is based on the claim that full alienability of property rights is antithetical to liberal political institutions. We address...

This paper examines the marginal utility as a theory of value in comparison with the theories which preceded it. It compares in detail the utility theory with the predominant theory of value of classical economics, a cost theory which saw labor as the ultimate source of value. By introducing a...

John Rae has recently been rediscovered as a precursor of the endogenous growth theory. This study argues that Rae needs to be rediscovered a second time for his original contribution to clarify the role of the innovation and technical change within the economic systems. The aim of this paper is...

This paper traces the different attempts to explain the role and the effects of public debt on national economies from the late 17th century to the postwar period of the 20th century. Its main emphasis lies in the treatment of public debt in the mercantilist, classical and post-classical period...

A system of thought allowed for the free market price of land to cyclically go down to zero. This is the economics of Moses. The economics of Jesus is a restatement of the economics of Moses. The first was applied during Biblical times and the latter, united with Aristotle’s thought and...

This study suggests that the origins of the economics of technical change go back to many years before Schumpeter’s contributions. The Scottish philosopher John Rae with his book Statement of Some New Principles on the Subject of Political Economy, issued in 1834, put forward the basis of the...

The monetary economy has properties that cannot be analyzed using the tools of today's dynamic general equilibrium analysis. Keynes's economics, far from being an aberration in the otherwise orderly evolution of modern macroeconomics from Adam Smith's ideas about the invisible hand, was a major...

The monetary economy has properties that cannot be analyzed using the tools of today's dynamic general equilibrium analysis. Keynes's economics, far from being an aberration in the otherwise orderly evolution of modern macroeconomics from Adam Smith's ideas about the "invisible hand", was a...