Both J M Keynes and Adam Smith used very similar ethical, epistemological, philosophical, and economic approaches in their analysis of the conditions that are necessary to maintain a stable, full employment economic system over time. They also agreed upon the nature of the fundamental problem...

Economists have generally maintained a rigorous separation between positive and normative economics. In the Muslim world, however, concerted attempts have been made to relate moral conduct to economic institutions and practices. Demands for an alternative theory and practice of development to...

Recent literature on Adam Smith and other 18th Scottish thinkers shows an engaged conversation between the Scots and today's scholars in the sciences that deal with humans — social sciences, humanities, as well as neuroscience and evolutionary psychology.We share with the 18th century Scots...

We derive lower and upper bounds for the Value-at-Risk of a portfolio of losses when the marginal distributions are known and independence among (some) subgroups of the marginal components is assumed. We provide several actuarial examples showing that the newly proposed bounds strongly improve...

The aim of this paper is to analyse the way in which the world is divided into different 'legal traditions', in order to understand the actual establishment of a ranking of the various legal systems, as it is used as a powerful device for global governance, directed to mould policy projects of...

The social security system is the main and most important social protection system. It typically covers all citizens of the Republic of Moldova, paying social security contributions and benefits. In addition, the instrument of accumulation and redistribution of financial resources is the State...

This paper delves on the concept of social market economy as an alternative middle-way between the capitalism of the West and the communism of the East. A brief historical analysis is presented to reveal how the concept was born, and how it was introduced as an alternative that had become a...

After reviewing Samuelson's use of the term "neoclassical synthesis" in relation to both Foundations of Economic Analysis, and his introductory textbook, the paper argues that the use of the term changed as it was taken up by heterodox economists seeking a term to represent the orthodoxy against...

This paper explores Samuelson's concept of the neoclassical synthesis. It is argued that his two main books hold out different types of synthesis. Foundations offered a synthesis based on common mathematical structures and presages the attempts to synthesize economics by Don Patinkin and Robert...