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Ramsey equilibrium models with heterogeneous agents and borrowing constraints are shown to yield efficient equilibrium sequences of aggregate capital and consumption. The proof of this result is based on verifying that equilibrium sequences of prices satisfy the Malinvaud criterion for efficiency.
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the philosophy of science and attempted to explicitly integrate logical empiricist thinking, derived in some measure from … his engagement with the work of the philosopher Hans Reichenbach, into his economics. His philosophical commitments are … clearly reflected in this empirical work on monetary economics, his monetarist analysis, and in his critical approach to …
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Hegel und zu der Tradition der Philosophie überhaupt ein konstitutiver Bestandteil der Marxschen Theorie und gerade auch … ergeben. Und schließlich wollen wir erklären, woher bei Marx das notorische Defizit einer politischen Theorie rührt. …
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Historians of the social sciences and historians of economics have come to agree that, in the United States, the 1940s … transformation of economics from political economy to economic science was associated with economists’ engagements with other … disciplines – e.g. mathematics, statistics, operations research, physics, engineering, cybernetics – during and immediately after …
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Historians of the social sciences and historians of economics have come to agree that, in the United States, the 1940s … transformation of economics from political economy to economic science was associated with economists' engagements with other … disciplines - e.g. mathematics, statistics, operations research, physics, engineering, cybernetics - during and immediately after …
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