DOCSLIB.ORG

In Economics: Scitovsky and Hawtrey

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
In Economics: Scitovsky and Hawtrey logo_ESHET2014_2.indd 1 01.04.14 10:47 BOOK OF ABSTRACTS 1 Table of contents Amanar Akhabbar – The Methodology of Samuelson's Non-Substitution Theorem ..................... 10 Alain Alcouffe and Fanny Coulomb – Pacifism of the French liberals in the late 19th and early 20th centuries / Frédéric Passy and Léon Walras, candidates for the Nobel Peace Prize ............. 11 Angela Ambrosino – The Role of Agents’ Propensity toward Conformity and Independence in the Process of Institutional Change: Links between Veblen and Hayek .............................................. 12 Oleg Ananyin – Equilibrium Theorizing in Statu Nascendi: Cantillon's Lessons ......................... 13 David Andrews – Adam Smith’s natural prices, the gravitation metaphor, and the purposes of nature ................................................................................................................................................ 14 Richard Arena – The role of technical and social factors in the distinction between necessities and surplus: Sraffa on and after classical economics ....................................................................... 15 Arie Arnon – A Re-Examination of Hayek’s Disputes and Agreements with Keynes Concerning “Interventions” in the Economy: 1924 to 1946 versus the 1970's ..................................................... 16 Tony Aspromourgos – Keynes, Lerner and the Question of Public Debt ....................................... 17 Michaël Assous and Paul Fourchard – Kalecki: a figure at the intersection of Marx, Wicksell and Frisch ................................................................................................................................................ 18 Marianna Astore – Controlling exchange rate during WWI: Liberalism versus State Intervention in the Italian case ............................................................................................................................. 19 Vladimir Avtonomov – A model of man for economic liberalism .................................................. 20 Caroline Bauer – Responsibility as a factor of performance in the duty of lieutenancy- an interpretation of the motivation for work according to John Calvin ................................................ 21 Antoinette Baujard – A utility reading for the history of welfare economics .................................. 22 Michele Bee – Rethinking self-love. Beyond selfishness and approbation of others in Adam Smith thought ............................................................................................................................................ 23 Nesrine Bentemessek Kahia and Jérôme de Boyer des Roches – Financial Institutions and Liquidity of Public Debt in England [1694 – 1720] ......................................................................... 24 Daniele Besomi – The commercial pendulum, tradequakes and financial tempests. Metaphors for crises in the 19th century ................................................................................................................. 25 Victor Bianchini – Social Comparisons and Individual Welfare: Back to James Mill .................... 26 Joerg Bibow – On Keynes’ vision for the international monetary order and global finance in light of his theories of effective demand and liquidity preference .......................................................... 27 Fabrizio Bientinesi – Was international trade theory a wertfrei one? Three different approaches: Sismondi, Ferrara and Pareto .......................................................................................................... 28 Olav Bjerkholt – The first European Econometric Society Meeting, September 1931, Lausanne . 29 Alfredo Blanco – Some considerations on the influence of economic liberalism in the May Revolution of 1810 ............................................................................................................................ 30 Roxana Bobulescu and Ina Chong – Analogy, metaphor and direct integration in Nicholas Georgescu-Roegen's bioeconomics ................................................................................................. 31 Mauro Boianovsky – Before macroeconomics: Pareto and the dynamics of the economic aggregate ......................................................................................................................................... 32 Olga Borokh – Liberal economic thought in Republican China in the 1930s ................................ 33 Céline Bouillot – John Locke and an economic state of nature: mercantilist or liberal? ............... 34 2 Dirk Brantl – Mandeville vs. Smith: Luxury, Opulence, Market Growth, and the Wealth of a Nation .............................................................................................................................................. 35 Lucy Brillant – Limits of arbitrage and interest rates: A Debate between Hawtrey, Hicks and Keynes .............................................................................................................................................. 36 Andrea Cabello – The Firm: the Role of Hierarchy and Market in Coasean and Marxist Tradition ......................................................................................................................................................... 37 Gilles Campagnolo – LIberalism In Between Europe And China: an economic dilemma ........... 38 Gilles Campagnolo – Liberalism In Between Europe And China (introduction and generalities) 39 Jose Luis Cardoso and Michalis Psalidopoulos – The German Historical School, protectionism and liberalism ................................................................................................................................. 40 Carvajalino Juan – E. B. Wilson and the establishment of the first course of advanced mathematical economics at Harvard in the mid-1930s: a story that intertwines mathematics, social sciences and economics ......................................................................................................... 41 Edward Castleton – Sismondi’s reception among nineteenth-century French socialists, 1840-1850 ......................................................................................................................................................... 42 Mario Aldo Cedrini and Anna Maria Carabelli – Not Beautiful, Not Just, Not Virtuous; 'And It Doesn't Deliver the Goods'. Capitalism and Fear of Goods in Keynes's Thought ........................ 43 Guenther Chaloupek – Karl Pribram‘s liberalism of compromise .................................................. 44 Irina Chaplygina – Liberalism as a principle of coordination for “extended order” ..................... 45 Cléo Chassonnery-Zaïgouche – Milton Friedman on Racial Discrimination: a Historical Perspective on Chicago liberalism .................................................................................................. 46 Francis Clavé – Comparative study of Lippmann’s and Hayek‘s liberalism (or neoliberalism) .... 47 Alain Clément and Riccardo Soliani – From Gide to Desroche: cooperation and utopia .............. 48 Stefano Condorelli – John Law as a liberal economist and policymaker ....................................... 49 Clément Coste and Marie Lauricella – Getting together to produce: from the need of reform to the justification by History. Comparative study of Buchez's and Pecqueur's social economy from 1830s to 1848's turning point ............................................................................................................ 50 Annie Lou Cot – On Irving Fisher’s use of medical metaphors ...................................................... 51 Alexandre Cunha – An unnoticed “Swiss connection” in the dissemination of cameralist ideas during the second half of the 18th century ...................................................................................... 52 federico d'onofrio – A few notes on the concept of ‘felicitas publica’ in 18th century Political Economy .......................................................................................................................................... 53 Francesca Dal Degan – The magic lantern of Coppet: commerce and “reciprocal” independence ......................................................................................................................................................... 54 Muriel Dal Pont Legrand and Harald Hagemann – The actuality of Schumpeter’s program of research: from 1911 to Neo-Schumpeterian Growth Theory ........................................................... 55 Elena Danescu – Pierre Werner A Visionary European and Consensus Builder .......................... 56 John Davis – Reflexive economic agents and consciousness: The SLAM approach ..................... 57 Jérôme de Boyer des Roches – Money and Foreign Trade in Ricardo (1809-1811) and in Ricardo (1817) ................................................................................................................................................ 58 michel de vroey – Conceptualizing unemployment: a hard, long and unfinished journeytitle ..... 59 Pierrick Dechaux – Conceptualizing the formation and role of expectations before 1950: George Katona's thought ............................................................................................................................. 60 3 Ghislain Deleplace – An unorthodox genealogy on the relation between the markets for foreign exchange
Load more

Recommended publications
  • Shana Vijayan Thesis.Pdf
    Performance Anxiety: The nature of performance management in the NHS under New Labour Shana Vijayan Thesis submitted for the degree of Doctor of Philosophy Department of Science and Technology Studies University College London 0 Declaration I, Shana Vijayan, confirm that the work presented in this thesis is my own. Where information has been derived from other sources, I confirm that this has been indicated in the thesis. 1 Abstract This thesis explores both the proliferation and prominence of ‘performance’ in the NHS, focusing on the New Labour years from 1997-2010. The research’s main objective was to understand how performance policy impacts the work-place experience: to understand the nature of work undertaken by performance managers, the tools used and the effect of these techniques. The secondary objective was to understand the goals of performance management. The introduction and rise of performance saw a change in expert authority. A new set of professionals had arrived in the NHS: regulators, auditors and performance managers. This thesis looks at the performance managers’ body of expertise, drawing upon several forms of qualitative research. The primary research tool used was institutional ethnography, which included focused interviews, a case study and experiences and notes gathered during a period based as a participant in NHS organisations. Documentary analysis carried out in the first phase of this thesis revealed that the principal rhetoric employed by politicians concerned the function of performance management in reducing risk and harm to patients. However, further research based on interviews and ethnography suggests that performance was experienced as a process of rationalisation and stigma, with risk rarely mentioned in the same way as in policy documents.
    [Show full text]
  • Royal Statistical Scandal
    Royal Statistical Scandal False and misleading claims by the Royal Statistical Society Including on human poverty and UN global goals Documentary evidence Matt Berkley Draft 27 June 2019 1 "The Code also requires us to be competent. ... We must also know our limits and not go beyond what we know.... John Pullinger RSS President" https://www.statslife.org.uk/news/3338-rss-publishes-revised-code-of- conduct "If the Royal Statistical Society cannot provide reasonable evidence on inflation faced by poor people, changing needs, assets or debts from 2008 to 2018, I propose that it retract the honour and that the President makes a statement while he holds office." Matt Berkley 27 Dec 2018 2 "a recent World Bank study showed that nearly half of low-and middle- income countries had insufficient data to monitor poverty rates (2002- 2011)." Royal Statistical Society news item 2015 1 "Max Roser from Oxford points out that newspapers could have legitimately run the headline ' Number of people in extreme poverty fell by 137,000 since yesterday' every single day for the past 25 years... Careless statistical reporting could cost lives." President of the Royal Statistical Society Lecture to the Independent Press Standards Organisation April 2018 2 1 https://www.statslife.org.uk/news/2495-global-partnership-for- sustainable-development-data-launches-at-un-summit 2 https://www.statslife.org.uk/features/3790-risk-statistics-and-the-media 3 "Mistaken or malicious misinformation can change your world... When the government is wrong about you it will hurt you too but you may never know how.
    [Show full text]
  • New Working Papers Series, Entitled “Working Papers in Technology Governance and Economic Dynamics”
    Working Papers in Technology Governance and Economic Dynamics no. 74 the other canon foundation, Norway Tallinn University of Technology, Tallinn Ragnar Nurkse Department of Innovation and Governance CONTACT: Rainer Kattel, [email protected]; Wolfgang Drechsler, [email protected]; Erik S. Reinert, [email protected] 80 Economic Bestsellers before 1850: A Fresh Look at the History of Economic Thought Erik S. Reinert, Kenneth Carpenter, Fernanda A. Reinert, Sophus A. Reinert* MAY 2017 * E. Reinert, Tallinn University of Technology & The Other Canon Foundation, Norway; K. Car- penter, former librarian, Harvard University; F. Reinert, The Other Canon Foundation, Norway; S. Reinert, Harvard Business School. The authors are grateful to Dr. Debra Wallace, Managing Director, Baker Library Services and, Laura Linard, Director of Baker Library Special Collections, at Harvard Business School, where the Historical Collection now houses what was once the Kress Library, for their cooperation in this venture. Above all our thanks go to Olga Mikheeva at Tallinn University of Technology for her very efficient research assistance. Antiquarian book dealers often have more information on economics books than do academics, and our thanks go to Wilhelm Hohmann in Stuttgart, Robert H. Rubin in Brookline MA, Elvira Tasbach in Berlin, and, above all, to Ian Smith in London. We are also grateful for advice from Richard van den Berg, Francesco Boldizzoni, Patrick O’Brien, Alexandre Mendes Cunha, Bertram Schefold and Arild Sæther. Corresponding author [email protected] The core and backbone of this publication consists of the meticulous work of Kenneth Carpenter, librarian of the Kress Library at Harvard Busi- ness School starting in 1968 and later Assistant Director for Research Resources in the Harvard University Library and the Harvard College 1 Library.
    [Show full text]
  • Cantillon and the Rise of Anti-Mercantilism
    CANTILLON AND THE RISE OF ANTI-MERCANTILISM MARK THORNTON* Resumen: En este trabajo se pretende demostrar que Cantillon formó parte tanto del pensamiento como del movimiento antimercantilista de su época, influyendo en gran medida en el cambio de opinión en contra del mercantilismo que se fue fraguando de 1720 a 1734. Clasificación JEL: B110, B31, N010. Abstract: This article places Cantillon at the center of anti-mercantilist thought and the anti-mercantilist movements in London and Paris between the time of the Bubbles of 1720 and his murder in 1734 and it places his ideas at the turning point between the eras of mercantilism and antimercantilism. JEL classification: B110, B31, N010. «It seems to me that there is a connection between physiocracy and anti-mercantilism, or at any rate between Boisguilbert (1646-1714) and Quesnay (1694-1774), though it is not easy to say just what this connection was.» Martin Wolfe1 «In itself Cantillon’s (168?-1734?) was a contribution of real significance, and it would be difficult to find a more incisive prophet of nineteenth-century liberalism.» Robert B. Ekelund, Jr. and Robert F. Hébert2 * Dr. Mark Thorntorn, Senior Fellow, Ludwig von Mises Institute, [email protected] 1 Martin Wolfe, «French Views on Wealth and Taxes from the Middle Ages to the Old Regime,» Journal of Economic History 26 (1966): 466-483. 2 Robert B. Ekelund, Jr. and Robert F. Hébert. A History of Economic Theory and Method (New York: McGraw-Hill, 1975): 44. Procesos de Mercado: Revista Europea de Economía Política Vol. VI, n.º 1, Primavera 2009, pp.
    [Show full text]
  • Università Degli Studi Di Siena Quaderni Del Dipartimento
    UNIVERSITÀ DEGLI STUDI DI SIENA QUADERNI DEL DIPARTIMENTO DI ECONOMIA POLITICA E STATISTICA Luca Fiorito The influence of American economists on the Clayton and Federal Trade Commission Acts n. 623 – Ottobre 2011 Abstract - The aim of this paper is to analyze American economists’ influence in the passing of the Clayton and Federal Trade Commission Acts (1914). Specifically, it is argued and documented that American economists were important in this process in two ways. Many economists exercised an “indirect” influence by discussing in academic journals and books problems concerning trusts, combinations, and the necessary measures to preserve the working of competitive markets. At least as importantly, if not more so, some economists took an active role in the reform movement both contributing to draft proposals for the amendment of existing antitrust legislation and providing help and advice during the Congressional debates which led to the passing of the FTC and Clayton Acts. Among these, we will focus primarily, albeit not exclusively, on the contribution of John Bates Clark. Jel Classification: B13; B14; B15; K21; L41; L42 This essay is dedicated to the Memory of Warren Samuels (1933--‐2011), who was of guidance and support to the writer and a continuous source of inspiration to the entire community of historians of economic thought. Luca Fiorito, University of Palermo: [email protected]. 1 The influence of American economists on the Clayton and Federal Trade Commission Acts Luca Fiorito1 In our warship of the survival of the fit under free natural selection we are sometimes in danger of forgetting that the conditions of the struggle fix the kind of fitness that shall come out of it; that survival in the prize ring means fitness for pugilism; not for bricklaying nor philanthropy; that survival in predatory competition is likely to mean something else than fitness for good and efficient production; and that only from a strife with the right kind of rules can the right kind of fitness emerge (Clark and Clark 1912, 200).
    [Show full text]
  • Let One Hundered Flowers Bloom, One Hundred Schools Contend: Debating Rule of Law in China
    Michigan Journal of International Law Volume 23 Issue 3 2002 Let One Hundered Flowers Bloom, One Hundred Schools Contend: Debating Rule of Law in China Randall Peerenboom University of California, Los Angeles Follow this and additional works at: https://repository.law.umich.edu/mjil Part of the Comparative and Foreign Law Commons, and the Rule of Law Commons Recommended Citation Randall Peerenboom, Let One Hundered Flowers Bloom, One Hundred Schools Contend: Debating Rule of Law in China, 23 MICH. J. INT'L L. 471 (2002). Available at: https://repository.law.umich.edu/mjil/vol23/iss3/1 This Article is brought to you for free and open access by the Michigan Journal of International Law at University of Michigan Law School Scholarship Repository. It has been accepted for inclusion in Michigan Journal of International Law by an authorized editor of University of Michigan Law School Scholarship Repository. For more information, please contact [email protected]. LET ONE HUNDRED FLOWERS BLOOM, ONE HUNDRED SCHOOLS CONTEND: DEBATING RULE OF LAW IN CHINAt Randall Peerenboom* I. THIN VERSIONS OF RULE OF LAW ................................................ 477 A. Advantages of Thin Theories................................................ 480 B. Normative Concerns About Thin Theories and the Relation Between Thin and Thick Theories .................... 482 II. FOUR IDEAL TYPES: STATIST SOCIALIST, NEO-AUTHORITARIAN, COMMUNITARIAN, LIBERAL DEMOCRATIC .................................... 486 A . The Economic Regim e .........................................................
    [Show full text]
  • Professor Jeremiah Jenks of Cornell University and the 1903 Chinese Monetary Reform
    Hitotsubashi Journal of Economics 50 (2009), pp.35-46. Ⓒ Hitotsubashi University PROFESSOR JEREMIAH JENKS OF CORNELL UNIVERSITY AND THE 1903 CHINESE MONETARY REFORM ＊ CHENG-CHUNG LAI Department of Economics, National Tsing Hua University Sinchu 30013, Taiwan [email protected] JOSHUA JR-SHIANG GAU Directorate-General of Budget, Accounting and Statistics Taipei 10065, Taiwan [email protected] TAI-KUANG HO Department of Economics, National Chung Cheng University Chiayi 62102, Taiwan [email protected] Received February 2008; Accepted October 2008 Abstract The Boxer uprising in China (1900) killed quite a number of foreigners and missionaries, which induced the armies of eight Western powers to invade China and they imposed an indemnity of 400 million silver taels. The international silver price around the 1900s was slumping, and these indemnity-treaty powers (e.g. France, UK, Germany, and Belgium) strongly wished China to establish a silver monetary system that would be maintained at parity with gold. Professor Jeremiah Jenks (1856-1929) of Cornell University was mandated to establish a gold-exchange standard for China. This paper begins with Jenksʼs life and work and the background of his mission to China. Section 2 presents the basic principle of this reform project and its specific designs. Section 3 assesses reactions and criticisms on Jenksʼs proposal. Possible arbitrage activities between gold and silver are analyzed in Sections 4 in order to evaluate the sustainability of Jenksʼs system. We conclude that: (1) Jenksʼs new systemmight have been stable in 1904-16 and 1928-30; (2) technically speaking, this was a remarkable design. Keywords: Professor Jeremiah Jenks (1856-1929), Chinese monetary reform of 1903, gold- exchange standard, silver standard.
    [Show full text]
  • THE EVOLUTIONARY GLOBAL VISION of CHINESE POLITICAL PHILOSOPHY; China's Socio-Economic Transformation in the 21St Century
    The University of San Francisco USF Scholarship: a digital repository @ Gleeson Library | Geschke Center Master's Projects and Capstones Theses, Dissertations, Capstones and Projects Fall 12-20-2020 THE EVOLUTIONARY GLOBAL VISION of CHINESE POLITICAL PHILOSOPHY; China's Socio-Economic Transformation in The 21st Century Meryem Gurel University of San Francisco, [email protected] Follow this and additional works at: https://repository.usfca.edu/capstone Part of the Asian Studies Commons, International Economics Commons, International Relations Commons, Other Philosophy Commons, Other Political Science Commons, Political Economy Commons, and the Regional Economics Commons Recommended Citation Gurel, Meryem, "THE EVOLUTIONARY GLOBAL VISION of CHINESE POLITICAL PHILOSOPHY; China's Socio-Economic Transformation in The 21st Century" (2020). Master's Projects and Capstones. 1069. https://repository.usfca.edu/capstone/1069 This Project/Capstone is brought to you for free and open access by the Theses, Dissertations, Capstones and Projects at USF Scholarship: a digital repository @ Gleeson Library | Geschke Center. It has been accepted for inclusion in Master's Projects and Capstones by an authorized administrator of USF Scholarship: a digital repository @ Gleeson Library | Geschke Center. For more information, please contact [email protected]. THE EVOLUTIONARY GLOBAL VISION OF CHINESE POLITICAL PHILOSOPHY China’s Socio-Economic Transformation in the 21st Century Meryem Gurel APS 650 Capstone Project July 16, 2020 2 Abstract Evolving relations of East Asia due to trade liberalization raised the search for financial stability for institutional development. It also increased the importance of China integrating the global economy into renewing its political philosophy in the new century. This capstone project aims to examine why China has transformed its socio-economic structure by generating outward investments and how it has affected international political relations in terms of the role of the economic institution Asian Infrastructure Investment Bank (AIIB).
    [Show full text]
  • The Skyscraper Curse Th E Mises Institute Dedicates This Volume to All of Its Generous Donors and Wishes to Thank These Patrons, in Particular
    The Skyscraper Curse Th e Mises Institute dedicates this volume to all of its generous donors and wishes to thank these Patrons, in particular: Benefactor Mr. and Mrs. Gary J. Turpanjian Patrons Anonymous, Andrew S. Cofrin, Conant Family Foundation Christopher Engl, Jason Fane, Larry R. Gies, Jeff rey Harding, Arthur L. Loeb Mr. and Mrs. William Lowndes III, Brian E. Millsap, David B. Stern Donors Anonymous, Dr. John Bartel, Chris Becraft Richard N. Berger, Aaron Book, Edward Bowen, Remy Demarest Karin Domrowski, Jeff ery M. Doty, Peter J. Durfee Dr. Robert B. Ekelund, In Memory of Connie Th ornton Bill Eaton, Mr. and Mrs. John B. Estill, Donna and Willard Fischer Charles F. Hanes, Herbert L. Hansen, Adam W. Hogan Juliana and Hunter Hastings, Allen and Micah Houtz Albert L. Hunecke, Jr., Jim Klingler, Paul Libis Dr. Antonio A. Lloréns-Rivera, Mike and Jana Machaskee Joseph Edward Paul Melville, Matthew Miller David Nolan, Rafael A. Perez-Mera, MD Drs. Th omas W. Phillips and Leonora B. Phillips Margaret P. Reed, In Memory of Th omas S. Reed II, Th omas S. Ross Dr. Murray Sabrin, Henri Etel Skinner Carlton M. Smith, Murry K. Stegelmann, Dirck W. Storm Zachary Tatum, Joe Vierra, Mark Walker Brian J. Wilton, Mr. and Mrs. Walter F. Woodul III The Skyscraper Curse And How Austrian Economists Predicted Every Major Economic Crisis of the Last Century M ARK THORNTON M ISESI NSTITUTE AUBURN, ALABAMA Published 2018 by the Mises Institute. Th is work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivs 4.0 International License. http://creativecommons.org/licenses/by-nc-nd/4.0/ Mises Institute 518 West Magnolia Ave.
    [Show full text]
  • Hayek's the Constitution of Liberty
    Hayek’s The Constitution of Liberty Hayek’s The Constitution of Liberty An Account of Its Argument EUGENE F. MILLER The Institute of Economic Affairs contenTs The author 11 First published in Great Britain in 2010 by Foreword by Steven D. Ealy 12 The Institute of Economic Affairs 2 Lord North Street Summary 17 Westminster Editorial note 22 London sw1p 3lb Author’s preface 23 in association with Profile Books Ltd The mission of the Institute of Economic Affairs is to improve public 1 Hayek’s Introduction 29 understanding of the fundamental institutions of a free society, by analysing Civilisation 31 and expounding the role of markets in solving economic and social problems. Political philosophy 32 Copyright © The Institute of Economic Affairs 2010 The ideal 34 The moral right of the author has been asserted. All rights reserved. Without limiting the rights under copyright reserved above, no part of this publication may be reproduced, stored or introduced into a PART I: THE VALUE OF FREEDOM 37 retrieval system, or transmitted, in any form or by any means (electronic, mechanical, photocopying, recording or otherwise), without the prior written permission of both the copyright owner and the publisher of this book. 2 Individual freedom, coercion and progress A CIP catalogue record for this book is available from the British Library. (Chapters 1–5 and 9) 39 isbn 978 0 255 36637 3 Individual freedom and responsibility 39 The individual and society 42 Many IEA publications are translated into languages other than English or are reprinted. Permission to translate or to reprint should be sought from the Limiting state coercion 44 Director General at the address above.
    [Show full text]
  • Indiana Magazine of History
    INDIANA MAGAZINE OF HISTORY ’Volume XLV SEPTEMBER,1949 Number 3 The Heroic Age of the Social Sciences Robert S. Fletcher* History, political theory, and economics were not wholly neglected even in the colonial colleges. But history was chiefly treated as the handmaiden of theology and the Greek and Latin classics, while economic and political matters were dealt with in the courses in moral philosophy and ethics. The American Revolution and the experience of constitu- tion-making gave a great impetus to the study of politics. In 1779, Thomas Jefferson was instrumental in bringing about a notable revision of the curriculum of William and Mary College whereby more emphasis was placed upon political studies; by 1792 a knowIedge of “NationaI Law, Law of Nations, and the general principles of politics” was required for graduation. Other colleges followed this example. In the two succeeding generations the Federalist was listed as a text in many catalogs, and Locke, Rousseau, Montesquieu, and the Declaration of Independence were often included in required reading. New books on moral philosophy appeared with an ex- panded political emphasis. In 1795 a professor at Columbia published a Systematic Treatise on Moral Philosophy: Com- prehending the Law of Nature-Ethics-Natural Jurispru- dence-General Economy-Politics-and the Lnw of Nations which he optimistically hoped would “inflame the American youth with a true love for their country.”’ The first rumblings of the industrial revolution produced a greater emphasis on economics (or political economy, as it wag called). Adam Smith’s famous but wordy and difficult *Robert S. Fletcher is .a member of the history department at Oberlin College, Oberlin Oho.
    [Show full text]
  • Human Action Vs
    Kiel Institute for the World Economy | Kiel, 19 July 2016 Paradigm Debate: “Human Action vs. Phishing for Phools – Two Perspectives of Socio-Economics” Human Action Towards a Coordinationist Paradigm of Economics Stefan Kooths Forecasting Center KOOTHS | Human Action – Towards a Coordinationist Paradigm of Economics 1 Crisis of mainstream economic thinking Reconstruction or revolution of economics? KOOTHS | Human Action – Towards a Coordinationist Paradigm of Economics 2 Reconstruction of economics Coordinationist paradigm of economics inspired by „Austrian Economics“ (Entrepreneurial Economics) methodological backbone Praxeology: Science of Human Action Catallactics: Science of human inter-action via (market) exchange KOOTHS | Human Action – Towards a Coordinationist Paradigm of Economics 3 Fundamental axiom Man acts. KOOTHS | Human Action – Towards a Coordinationist Paradigm of Economics 4 Implications of “human action” (1/2) . Purposeful conduct: Aiming at reducing uneasiness » The human actor “wants to substitute a state of affairs that suits him better for one that suits him less”. (Mises) » Human beings as universal entrepreneurs (explorers, not decision automata) » Action: decision making + search for means . Individuals act … » … but not in isolation (society formed by voluntary interaction) » … groups/aggregates do not (anti-collectivist approach) . Preferences as ranks only » Chosen ends are strictly subjective » Making choices on means (no discussion of ends) » No room for interpersonal comparison of utility (no social planner) KOOTHS | Human Action – Towards a Coordinationist Paradigm of Economics 5 Implications of “human action” (2/2) . Diminishing marginal utility » Follows from praxeological approach (outcome, not an assumption) » Not a psychological/physiological phenomenon . Action in time » Dynamic disequilibrium approach » Evenly rotating economy as a state of non-action (thought experiment only) .
    [Show full text]