After the publication of Keynes' "General Theory," economics was frequently described as schizophrenia: (neo-) classical at the micro-level, but Keynesian at the macro-level. In actuality, Keynes' revolution was, to a substantial part, based on the behavioral micro-foundations of the world we...

Keynes' General Theory (GT) ist in zweierlei Hinsicht umfassender als das (neo-) klassische Modell: (1) sie schließt das Vollbeschäftigungsgleichgewicht als Sonderfall ein und (2) sie basiert auf realistischem mikroökonomischem Verhalten, dessen sozial isolierter, den Eigennutz maximierender...

This paper compares the interconnections between dominant economic thought and processes of policy-making in the area of labour market reforms in Germany in the late 1960s and the early 2000s. The transition in labour market policies in this period could be described as a change from an active...

This paper is an exploration of the genesis of Paul Samuelson's Foundations of Economic Analysis (1947) from the perspective of his commitment to Edwin B. Wilson's mathematics. The paper sheds new lights on Samuelson's Foundations at two levels. First, Wilson's foundational ideas, embodied in...

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 impacts of fluctuations of exchange rates of foreign hard currencies are well documented in economics literature. There are measures taken over by countries to absorb their impacts on income, employment and national economies ability to function and produce. However, distortions are observed...

In countries where tools of economic control are immature and disabled due to totalitarian systems, macroeconomic analyses for aggregate quantities and relationships, such as total consumption, investment, and government expenditures represents a difficult task. The practice of aggregation...

It is not an exaggeration to surmise that agriculture as an economic activity in Sudan is facing demise. The agricultural sector of Sudan has been facing by many problems for the past two decades. In the irrigated schemes, the government who officially owns most of them there were entrenched...

Banking is expanded to the ultimate level so that many State and Central Government departments can be integrated in the banking system to cut the present government size and non plan expenditure to 1/3 level.Purpose of this new banking structure* To establish a bank branch at every village or...

The thesis put forward in this paper is that Herbert A. Simon was a distinctive theoretician of decentralized decisional systems alternative to the market, from planning to organizations. This issue emerges from the convergence of four perspectives, each with a different role and influence on...