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Mengerian causality: the case of the entrepreneur
D. Simpson, Barry; Kjar, Scott A. - In: New perspectives on political economy : NPPE ; a … 5 (2009) 1, pp. 9-16
Modern economics is filled with models using simultaneous equations to explain economic behavior. One common model, the circular flow diagram, is found in many principles-level textbooks, and is offered as the basic way in which economies function. The entrepreneur, if included at all, is...
Persistent link: https://www.econbiz.de/10003935346
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Über die Natur und das Wesen des Geldes : Johann Heinrich von Thünens unveröffentlichter Beitrag zur Geldtheorie
Nellinger, Ludwig - 2009
formula. He anticipates the famous Newcomb-Fisher equation but with one difference: in Thünen’s opinion the product of …
Persistent link: https://www.econbiz.de/10003941218
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Orthodoxer Mainstream und Heterodoxe Alternativen : eine Analyse der ökonomischen Wissenschaftslandschaft
Quaas, Friedrun - 2014
Die moderne Volkswirtschaftslehre als wissenschaftliche Disziplin ist einerseits durch große Uneinheitlichkeit geprägt, die andererseits selbst in Zeiten der Krise der Theorie anscheinend nicht nachhaltig in ein öffentliches Bewusstsein vordringen konnte. Nach wie vor wird "die Ökonomik"...
Persistent link: https://www.econbiz.de/10010348348
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An unexpected discovery : Johann Heinrich von Thuenen and the tragedy of the commons
Nellinger, Ludwig - 2014
William Forster Lloyd's 1833 sketch about poor cattle on the commons and the well-fed animals on the adjacent enclosures published in his "Two lectures on the checks to population" has hitherto been assessed as one starting point of the economics of renewable resources. In the 20th century the...
Persistent link: https://www.econbiz.de/10010252203
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Zur Herleitung der Thünen'schen Grabsteinformel
Nellinger, Ludwig - 2011
In Abhandlungen von Dorfman und Samuelson 1986 und van Suntum 1988 wird Thünen's berühmte Grabsteinformel unter Berücksichtigung seiner spezifischen Annahmen bestätigt. Allerdings wird Thüenen's Vorgehen zur Erzielung dieses Ergebnisses bis heute kontrovers diskutiert. Mit diesem Papier...
Persistent link: https://www.econbiz.de/10009231927
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Frank H. Knight on the 'Entrepreneur Function' in Modern Enterprise
Emmett, Ross B. - 2011
Frank Knight's theory of the entrepreneurial function in modern enterprise is explored in two contexts. The first is the dismissal of the neoclassical theory of business enterprise by Berle and Means in The Modern Corporation and Private Property, and their subsequent call for measures that...
Persistent link: https://www.econbiz.de/10013132632
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Fisher and Wicksell on Money : A Reconstructed Conversation
Boianovsky, Mauro - 2012
The paper offers a reconstruction of the “conversation” between Irving Fisher and Knut Wicksell on money as shown by …'s approaches into their own respective frameworks. This was followed by Wicksell's extended criticism of Fisher's compensated …, especially after Wicksell's death, Fisher came to support a significant part of Wicksell's monetary policy proposals …
Persistent link: https://www.econbiz.de/10013113954
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Reflection about the Agent Representation in Evolutional Economic Theory : Controversy between the Orthodox and Heterodox Perspectives
Castro Fernández, Juan - 2012
This document makes an analysis of the neoclassical framework in relation to the way how the agents choose, emphasizing that the assumptions reward the formalization, despising its power of representation of the model. According to studies made by authors like Kahneman & Tversky (1973, 1979,...
Persistent link: https://www.econbiz.de/10013103169
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Jeremy Bentham’s Utilitarianism : Foundation of the Theory of Leonwalras?
Rivera, Aida - 2012
This text challenges assumptions about the foundations of the Leon Walras' marginalist theory in the utilitarianism of Jeremy Bentham. The problematic is approached through a comparative study between Bentham's and Walras' ideas on three focus areas: 1. their views of society and the social...
Persistent link: https://www.econbiz.de/10013103287
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Constant Returns to Scale : Can the Market Economy Exist?
Alam, M. Shahid - 2013
This note argues that the competitive paradigm of neoclassical economics breaks down in the presence of constant returns to scale (CRS). With CRS, all goods can be produced at identical costs by all economic agents, making self-production a feasible alternative to market production. In the...
Persistent link: https://www.econbiz.de/10013085435