The present paper takes the explanatory superiority of the integrated monetary approach for granted. It will be demonstrated that the accounting approach could do even better provided it frees itself from theoretically ill-founded notions like GDP and other artifacts of the equilibrium approach....

This paper on bilateral trade talk between Nigeria and India: a recipe seeks to assess the impact of exogenous factors on bilateral trade flows between the two countries. Gravity model of bilateral trade flow with import and export as regressands were estimated with income, exchange rate and...

The fact that happiness does not increase as income increases (Easterlin Paradox) has puzzled a number of scholars for a number of decades. The latest research on this topic concludes that happiness increases with an increment in income in the short term but it adapts to this income increment in...

The present paper takes it as an indisputable fact that subjective-behavioral thinking leads, for deeper methodological reasons, with inner necessity to inconclusive filibustering about the agents’ economic conduct and therefore has to be replaced by something fundamentally different. The key...

This essay provides a critical Marxist reformulation, internal to the cultural tradition of Western Marxism, of Marx’s theoretical treatment of value and capital. It implies the abandonment of the ‘pure’ labour theory of value of the young Marx in favour of a ‘mixed’ labour-and capital...

This paper deals with an analysis of the effects of education on the income of Czech households from 2006-2010. EU-SILC (European Union Statistics on Income and Living Conditions) review results are the main data source. The paper investigates with the living conditions of households and that is...

This study examines the profile and determinants of poverty in the two largest cities in Vietnam – Hanoi and Ho Chi Minh. Data used in this study are from the 2009 Urban Poverty Survey. Using the poverty line of 12,000 thousand VND/year, the poverty incidence is estimated at 17.4 percent for...

Behavioral assumptions are not solid enough to be eligible as first principles of theoretical economics. Hence all endeavors to lay the formal foundation on a new site and at a deeper level actually need no further vindication. Part (I) of the structural axiomatic analysis submits three...

The Easterlin Paradox—the perceived absence of a relationship between economic progress and happiness—is one of the most important continuing debates in economics. Yet, both sides of the extant debate are anchored on valid mathematical arguments. The preponderance of evidence is therefore...

Economists are fond of the physicists’ powerful tools. As a popular mindset Toolism is as old as economics but the transplants failed to produce the same successes as in their aboriginal environment. Economists therefore looked more and more to the math department for inspiration. Now the tide...