Kenneth J. Arrow's 1962 article “The Economic Implications of Learning by Doing” is considered as a seminal contribution in endogenous growth theory. However, no history of its origins has been written yet. We aim to fill this gap by studying the genesis of Arrow's article, showing how its...

Challenging the dominant view, we claim that Hayek's monetary views did not significantly change over his lifetime. The prevalent perception of early Hayek as a money stream stabilizer and late Hayek as a price level stabilizer is attributable to an unjustified normative interpretation of...

It is widely accepted that the importance of Friedman's Presidential Address to the American Economic Association lies in its criticism of policy based on the Phillips curve. However, it is argued that a reading of the text does not support such a view, and this and other considerations suggest...

The neoclassical synthesis has been defined as a bridge between Keynesian theory and Walrasian general equilibrium theory. The aim of this article is to show that founders of the neoclassical synthesis were not homogenous in their appraisal of the importance of Walrasian theory. To do so, we...

This article addresses the question of whether sanctions constitute violence in the broad sense of that term, and whether, and under what conditions, sanctions can be justified. The sanctions imposed against Iraq and Cuba are discussed as case studies and several ethical theories are applied to...

Frederic Bastiat (1801-1850) was a French economist and journalist. One of his classic works is The Candlemakers' Petition, which uses the reductio ad absurdum philosophical technique to dismantle the arguments the French protectionists put forth to protect French industry in the mid-nineteenth...