The emergence of experimental economics in the last third of the 20th century revisited the long-standing belief that economics is a non-experimental discipline. The history of this new practice reveals this went further than simply introducing the experimental method to economics. Its history...

This paper is the keynote speech delivered by Professor William Baumol at the First World Congress of Environmental Economists that was held in Venice on June 25-27, 1998. It analyses the situation of the environment under different economic regimes: the feudal society, Marxism and capitalism....

The paper presents a review of selected definitional issues, theoretical concepts and most recent empirical evidence related to the phenomenon of immigrant self-employment. Based on the appraisal of gathered material it also points to possible areas of development of future research in the field.

Historians of the social sciences and historians of economics have come to agree that, in the United States, the 1940s transformation of economics from political economy to economic science was associated with economists’ engagements with other disciplines – e.g. mathematics, statistics,...

Sidney Weintraub (1914 - 1983) was an American economist who spent most of his career at the University of Pennsylvania. A distinguished economic theorist (and the author’s father), he was a co‐founder of the Journal of Post Keynesian Economics, and the leading figure in the US in the early...

Before becoming the hallmark of macroeconomics à la Wynne Godley, the 'stock-flow' analysis was already developed in microeconomics and general equilibrium theory. Basically, the goal was to study the formation of economic plans and the determination of market prices when individuals were...

During the 1950s and 1960s, many economists were convinced that externalities were a cause of "market failures" - because individuals are not capable of internalizing the costs their actions impose to others - and therefore that the intervention of the state was necessary to allow an efficient...

The modern concept of labor hoarding emerged in early 1960s, and soon became a standard part of mainstream economists' explanation of the working of labor markets. The concept represents the convergence of three important elements: an empirical finding that labor productivity was procyclical; a...