This paper intends to present a particular analysis of Thorstein Veblen’s work. In this fashion, we have identified a central idea that commands his oeuvre: the non-teleologism. In addition, as a another central objective, the study pretends to establish a relationship between this hard core...

This paper contains a short history of business cycle theory. It is argued that in the course of time the emphasis shifted from a mainly exogenous to a mainly endogenous explanation of the cycle. After the integration of the two approaches in the so-called impulse and propagation theory, the...

Over 100 years since Marx's value theory of labour was first published, the so-called ``transformation problem'' -- deriving prices from values and providing a theory of profits as arising from surplus value -- has inspired the imagination of economists of all shades of intellectual suasion....

The purpose of this paper is to provide an analysis of the impact the UV-curve had on economic theory and to provide an account of the subsequent radical changes in its place and role over the decades since its first appearance in 1958. The paper traces the historical development of the UV-curve...

Theories of social comparison have a long presence in the social sciences and have provided many useful insights. In economics, the idea of comparison, aspiration or relative income belongs to this theoretical framework. The first systematic usages of this idea can be found in the works of...

Professor Narmadeshwar Jha was a noted scholar on History of Economic Thought that took its shape under the influence of Alfred Marshall. His widely referred book - The Age of Marshall: Aspects of British Economic Thought, 1890-1915 – was written under the supervision of Professor A.J. Brown...

This entry, submitted to Philip O’Hara’s Encyclopedia of Political Economy but not included in it, contrasts the temporal and simultaneist approaches to the formation of price and its relation to value.

It is a commonly accepted view that the parity theory of forward exchange based on the law of one price was first formulated by Keynes (1923). In this article we assess the preliminary shapes of the Interest Parity (IP) relation. After reviewing the early beginnings of the IP relation we...

In this paper I examine A. C. Pigou's views on the unemployment policies, based on the premise that, as he himself acknowledged, his theory of business fluctuations was one integral part of his whole thought about unemployment. In his Industrial Fluctuations (1927), Pigou gave the most extensive...