To answer the question "How to be an Ecological Economist", we must start by defining the field of Ecological Economics. Mainstream Economics altogether lacks the concepts required to deal adequately with nature, justice and time. It was the absence of these three concepts in this otherwise...

Economic behavior strives for efficiency. Therefore, also evolving network structures should be a result of such a goal-oriented behavior. Traditionally, networks were assumed to be only temporary phenomena, since the prevailing organizational forms that comply with the efficiency postulate are...

Die Diskussion um Karl Marx ist lange Zeit nur ideologisch positionell geführt worden. Wer sich nicht als Gegner oder Befürworter der Marxschen Lehre erklärte, hatte es schwer, in dieser Diskussion Gehör zu finden. Im letzten Viertel des vorigen Jahrhunderts hat jedoch sowohl in...

Formal analysis, in which maximizing agents use today's "true" model of the economy to form expectation upon which they then base their behaviour, trivializes the role of the future in economic life and ignores the possibility that the past's models, which helped generate the data against which...

Adam Smith, John Stuart Mill and Alfred Marshall shared a concern over excessive inequality of wealth and income, along with an attachment to individual choice, free markets and a minimal economic role of government. In this paper, I address the question of the size distribution of income, or...

Lynn Stout's paper on Risk, Speculation, and OTC Derivatives: An Inaugural Essay for Convivium develops an insightful legal-economic analysis of speculative trading. From one hand, the paper discusses the legal-economic framework of speculation and its recent transformation, making reference to...

This chapter surveys the classificatory approaches of business cycles and crises theories found in dictionary articles. These are found to belong to a surprisingly small number of types. At first, dictionary writers only cited the theories they wanted to disprove. Then (especially in Germany in...

In this paper we show that under double constraint the goods derived from secondary materials could be Giffen. The example is given of paper derived from waste recycling. We show that if the policy maker misunderstands the type of goods, because he incorrectly considers a Giffen good to be...

Traditional portfolio optimization models specify placement of capital as rather irrevocably and fully at risk through investment horizon(s) or continuously. Under this constraint, asset class allocation typically serves as primary mode of diversification, pursuing risk moderation by seeking to...

This paper presents the different utilitarian approaches to ethics. It stresses the influence of utilitarianism in economics in general and in welfare economics in particular. The key idea of the paper to explain the evolution from classical utilitarianism to preferences utilitarianism and...