A new general-equilibrium model that links together rural-to-urban migration, the externality effect of the average level of human capital, and agglomeration economies shows that in developing countries, unrestricted rural-to-urban migration reduces the average income of both rural and urban...

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...

In his Idea of Justice, Amartya Sen compares the two basic approaches to evaluate institutions, transcendental institutionalism and realization-focused comparisons. Referring to Smith's Impartial Spectator, he argues in favour of the latter and proposes the principle of Open Impartiality....

Although decision makers are often reported to have difficulties in making comparisons between multi-dimensional decision outcomes, economic theory assumes a uni-dimensional utility measure. This paper reviews evidence from behavioral and brain sciences to assess whether, and for what reasons,...

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"...

The starting point of our research is Piketty (2014) who follows Marx by asserting that rents are merely one of the forms of profits, therefore they do not require separate conceptual analysis and statistical separation. Speaking of the generation of rents (as a distinctly different mechanism...

After showing different criteria for assessing economic theories and in general terms the growth of (economic) knowledge, the essentials of classical British economic theory (Political Economy) are outlined. Next the scientific career and the genesis of the works of Ricardo are dealt with. The...

Dieser Aufsatz reflektiert das Verständnis von Mensch und Natur, welches dem Denken von Malthus zugrunde liegt und kontrastiert es mit dem völlig anderen Verständnis seines Zeitgenossen William Wordsworth. Wir zeigen, dass die ökonomischen Überlegungen beider entscheidend durch diese...

This article restates the essential link existing between Malthus' theory of prices and distribution, and his theory of effective demand. The first part of the article deals with his theory of prices and distribution, and shows that, although his contribution to this field has been largely...

The present paper analyzes the links that exist between Adam Smith's thought and Amartya Sen's one with the aim of presenting a definition of globalization which shows how global market could be a potential instrument to promote socio-economic development. The definition of globalization here...