This article analyzes the role of the asymmetry hypothesis in Marx’s reproduction schemes. We assume a propensity of capitalists for endogenous and uniform saving, and study its effect on the result found by Marx. Afterward, the dynamic relationship between the organic composition of capital...

In his book, the Political Economy of Growth (1957), and in an article he wrote several years earlier (1953), the economist Paul A. Baran noted how in an economic system characterized by a hierarchy of classes and where economic and political power are concentrated in the top class of such a...

Purpose This paper is a response to the doctrine that capital is incompatible with public ownership. The fundamental characteristics of modern productivity determine the co-existence of the market economy and capital relations. Design/methodology/approach Socialism can neither bypass the market...

F.A Hayek is one of the most important and influential advocates of liberalism in the 20th century. His theory is famously based on the concept of spontaneous order, an order emerging from the interaction of individuals without central control and appears critical of every form of...

Adam Smith hat in seinem Bild des Menschen der Rolle der Imagination einen so großen Stellenwert eingeräumt, dass es berechtigt ist, ihn als Bildanthropologen zu bezeichnen. Der Aspekt des Bildvermögens von Menschen geriet im Laufe des 19. Jahrhunderts in der Geschichte der Wirtschaftstheorie...

Entangled Political Economy, the idea that the economy and the polity are a nexus of interrelations often with unplanned outcomes, is close to the concept of economics that Adam Smith presents, a concept which was not shaped by strict discipline barriers. I show that Adam Smith analyzes the...

In the 1950s, Jacques Rueff’s references to social order seem pretty clear: it is not a spontaneous phenomena. Although Rueff is generally seen as a liberal economist, this has prompted commentators to see in his approach something more artificial than Hayek’s own ideas on social order....