Analyses why we have a globalised economy that is so volatile and vulnerable, at the same time as it increases the gap between rich and poor, as well as producing such huge negative impacts on the environment. Also proposes a comprehensive plan for creating the right sort of globalised economy

This paper uses the theory of complex systems as a conceptual lens through which to compare the work of Friedrich Hayek and Vincent and Elinor Ostrom. It is well known that, from the 1950s onwards, Hayek conceptualised the market as a complex adaptive system. It is argued in this paper that,...

Financial economics and mathematical finance are the two traditional scientific disciplines that constitute modern financial theory. Although they still largely dominate modern financial theory, in the past few years a new “player” has increasingly been making itself felt and could lead to a...

This paper is the introduction to a special issue of the Cambridge Journal of Economics on the topic of ontology and the history of economic thought. It explains what is meant by social ontology and why ontological issues should be taken seriously by historians of economic thought. It then goes...

Neoclassical economic theory is often criticized for neglecting some essential elements in models of economic decision making. These criticisms can be categorized into external and internal ones. This paper summarizes a number of incoherence built into the models of neoclassical economic theory....

This paper develops a response to some of the criticisms that have been made of G.L.S. Shackle's analysis of human decision-making because of its reliance on a Cartesian account of the mind. It is argued that the basis for a response can be found in the work on theoretical psychology developed...

Sidney Weintraub (1914-1983) was an American economist who spent most of his career at the University of Pennsylvania. A distinguished economic theorist (and the author's father), he was a co-founder of the Journal of Post Keynesian Economics, and the leading figure in the US in the early years...

Sidney Weintraub (1914-1983) was an American economist who spent most of his career at the University of Pennsylvania. A distinguished economic theorist (and the author's father), he was a co-founder of the Journal of Post Keynesian Economics, and the leading figure in the US in the early years...

Over the past two decades there has been a revival of Georg Friedrich Knapp's “state money” approach, also known as chartalism. The modern version has come to be called Modern Money Theory. Much of the recent research has delved into three main areas: mining previous work, applying the...

This paper is a review essay of the latest volume of The Collected Works of F.A. Hayek, entitled 'The Market and other Orders.' The paper examines the development of Hayeks' ideas about order, as manifested in the essays collected in this volume. Issues examined include: Hayek's accounts of the...