Following up on the suggestions of Adolph Lowe, the paper investigates the potential contribution of pragmaticist philosopher Charles Sanders Peirce's concept of "retroduction" (and especially Norwood Hanson's elaborations of that concept), mathematician George Polya's work on heuristics,...

Collecting Nobel Laureate William S. Vickrey's articles on macroeconomic theory and policy written towards the end of his career, this volume demonstrates his enduring commitment to full employment and price stability, and his rejection of conventional macroeconomic theorizing. William Vickrey...

William Vickrey's single-minded commitment to full employment is evident in a series of papers written in the last years of his life. In these works Vickrey formulated an assets-based approach to macroeconomic analysis that has definite implications for budgetary and employment policy. For...

This paper argues that the ideas of Abba Lerner and Adolph Lowe contain overlapping and complementary insights and themes that may contribute to the development of a new approach to macroeconomics, and that have rather specific practical policy implications. Lerner's notions of functional...

Adolph Lowe and his mentor Franz Oppenheimer were founding members of the Editorial Board of the "The American Journal of Economics and Sociology" in 1941. Both this journal's name and its mission were inspired by Lowe's greatly underappreciated 1935 book, "Economics and Sociology". There, Lowe...

The lifework of Adolph Lowe (1893-1995) was greatly motivated by his struggle with the problem of “freedom and order”. This paper explores Lowe's largely overlooked and under-examined writings on education and political philosophy, important components of his “political economics”....

This article is a short introduction to the 5 paper symposium on the European economic and monetary union appearing in this issue.

Full employment is normally associated with structuralrigidities that may result in production bottlenecks and inflationary pressures. Flexibility or elasticity of the production system istherefore a desirable feature of an economic system. Many standardmodels, however, exhibit flexibility...

Following up on suggestions of Adolph Lowe, the paper draws on the work of Peirce, Polya and Michael Polanyi to elaborate the notion of Lowe's instrumental analysis as a policy discovery procedure. It is argued that such an interpretation of Lowe's instrumentalism may contribute to the...