In a paper delivered at the December 1955 meeting of the Econometric Society, Paul Samuelson noted that though economists had done "work of high quality and great quantity in the field of taxation," the theory of public expenditure had been "relatively neglected" (1958, 332). Anglo-American...

This paper deals with the rift between the nominal economy and the evolution of the real economy, which represented the main structural cause for the international crisis (since 2007/2008), followed by a prolonged recession and a stagnant growth rate. Analysing the causality and implications of...

From Walras to Debreu, the history of general equilibrium analysis went through three major episodes, each linked to a different place. In Lausanne, Walras builds the first general equilibrium equations as an element of a global social science. In Vienna, in the early 1930s, Wald is the first to...

Why would social science need the help from quantum mechanics? First, there are many unanswerable questions in social science. Are financial markets predictable? How to predict the financial markets? These important questions are not answerable in the existing framework of finance or economics....