Showing 111 - 120 of 192
Neoclassical economic theory presents marginal productivity (MP) theory using the scalar notion of marginal products, and takes pains, in one way or another, to argue that competitive equilibrium satisfies the supposedly ethical principle: "To each what he and the instruments he owns produces."...
Persistent link: https://www.econbiz.de/10013009909
Double-entry bookkeeping (DEB) implicitly uses a specific mathematical construction, the group of differences using pairs of unsigned numbers ("T-accounts"). That construction was only formulated abstractly in mathematics in the 19th century — even though DEB had been used in the business...
Persistent link: https://www.econbiz.de/10013051301
This paper shows that implicit assumptions about the numeraire good in the Kaldor-Hicks efficiency-equity analysis involve a "same-yardstick" fallacy (a fallacy pointed out by Paul Samuelson in another context). These results have negative implications for cost-benefit analysis, the...
Persistent link: https://www.econbiz.de/10013056669
Instead of the half-century old foundational feud between set theory and category theory, this paper argues that they are theories about two different complementary types of universals. The set-theoretic antinomies forced naïve set theory to be reformulated using some iterative notion of a set...
Persistent link: https://www.econbiz.de/10012985370
After Marx, dissenting economics almost always used 'the labor theory' as a theory of value. This paper develops a modern treatment of the alternative labor theory of property that is essentially the property theoretic application of the juridical principle of responsibility: impute legal...
Persistent link: https://www.econbiz.de/10012993752
The purpose of this paper is to go back to the first principles of democracy and private property, and to show that they are violated by the conventional firms based on the employment relations and are satisfied by the legal form of a worker cooperative. The conventional bundle of rights in a...
Persistent link: https://www.econbiz.de/10012934637
This paper surveys and generalizes the main valuation formulas used in real estate appraisal and presents unified proofs. The results are otherwise scattered in obscure journals and books while the proofs are rarely available to researchers in the field. The few benefits and many pitfalls of...
Persistent link: https://www.econbiz.de/10012705916
Introduction to the Jurisprudence of Property and Contract -- Mathematical Introduction to the Jurisprudence of Property and Contract -- The Property Fallacy in Capital Theory and Corporate Finance Theory -- The Arrow-Debreu Model -- Marginal Productivity Theory -- Marxism as the Ultimate...
Persistent link: https://www.econbiz.de/10012585245
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