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aspects of Schumpeter's business cycle theory to which Labini draws attention. In the last section, I present Sylos Labini …'s business cycle theory, an interesting mix of Schumpeterian, Keynesian and Marxian elements …
Persistent link: https://www.econbiz.de/10013015537
When economists turned to applied benefit-cost analysis in the 1930s and 1940s, they adopted prices as indicators of benefits. This was consistent with both neoclassical economics (in which prices are marginal values) and institutional economics (which favored a plausible market mechanism to...
Persistent link: https://www.econbiz.de/10013000174
The economics profession has traditionally viewed rational choice theory as a positive scientific theory. Normative … paper argues that the profession is changing in this regard. Increasingly rational choice theory is viewed as a normative … theory of rationality: what economic agents ought to do in order to be rational. It is argued that the change initiated from …
Persistent link: https://www.econbiz.de/10013038338
In this paper I review the theory of financial intermediation in order to explain the existence of banks. In the … complete there is no need for intermediaries. But banks have existed for many centuries. The theory of financial intermediation …
Persistent link: https://www.econbiz.de/10013112703
bounded rationality approach, economic theory, and the epistemology of complex systems. Notwithstanding the changes over time …
Persistent link: https://www.econbiz.de/10013153058
republican than liberal in its social theory, and was never very comfortable with mainstream neoclassical economics. While …
Persistent link: https://www.econbiz.de/10013159823
The modern approach to the market as a place with autonomy depends on a certain view of money. According to that view, money is a neutral technology that expresses individual choices made about real goods and services. But the controversies over money that regularly arise in political...
Persistent link: https://www.econbiz.de/10012839160
The analytical tension in post-Keynesian thought between the theory of endogenous (credit) money and the theory of …'” which established post-war orthodoxy, and also to the challenge offered by so-called Modern Money Theory …
Persistent link: https://www.econbiz.de/10012839903
the General Theory of Employment, Interest and Money advanced by Roy Harrod, John Hicks and James Meade, as well as the …
Persistent link: https://www.econbiz.de/10012777621
Was 1986 Nobel Laureate James Buchanan an intellectual heir of South Carolina slavery apologist and political thinker John C. Calhoun? Further, was Buchanan's worldview shaped by segregationist Nashville Agrarian poet Donald Davidson? These are claims made by historian Nancy MacLean in her 2017...
Persistent link: https://www.econbiz.de/10012951165