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The Institutionalist Reaction to Keynesian Economics
Journal of the History of Economic Thought, Volume 30, Number 1, March 2008 THE INSTITUTIONALIST REACTION TO KEYNESIAN ECONOMICS BY MALCOLM RUTHERFORD AND C. TYLER DESROCHES I. INTRODUCTION It is a common argument that one of the factors contributing to the decline of institutionalism as a movement within American economics was the arrival of Keynesian ideas and policies. In the past, this was frequently presented as a matter of Keynesian economics being ‘‘welcomed with open arms by a younger generation of American economists desperate to understand the Great Depression, an event which inherited wisdom was utterly unable to explain, and for which it was equally unable to prescribe a cure’’ (Laidler 1999, p. 211).1 As work by William Barber (1985) and David Laidler (1999) has made clear, there is something very wrong with this story. In the 1920s there was, as Laidler puts it, ‘‘a vigorous, diverse, and dis- tinctly American literature dealing with monetary economics and the business cycle,’’ a literature that had a central concern with the operation of the monetary system, gave great attention to the accelerator relationship, and contained ‘‘widespread faith in the stabilizing powers of counter-cyclical public-works expenditures’’ (Laidler 1999, pp. 211-12). Contributions by institutionalists such as Wesley C. Mitchell, J. M. Clark, and others were an important part of this literature. The experience of the Great Depression led some institutionalists to place a greater emphasis on expenditure policies. As early as 1933, Mordecai Ezekiel was estimating that about twelve million people out of the forty million previously employed in the University of Victoria and Erasmus University. -
Proquest Dissertations
A REFORMULATION OF THE ADMINISTERED PRICE INFLATION HYPOTHESIS AND ITS EMPIRICAL VERIFICATION IN A CANADIAN CONTEXT By Richard Lesage Thesis presented to the School of Graduate Studies as partial fulfillment of the requirements for the de<g£g^e. of Master of Arts in E-conomics, ^ &•- UNIVERSITY OF OTTAWA Ottawa, Canada, 1972, Richard Lesage, Ottawa, 1972. UMI Number: EC55942 INFORMATION TO USERS The quality of this reproduction is dependent upon the quality of the copy submitted. Broken or indistinct print, colored or poor quality illustrations and photographs, print bleed-through, substandard margins, and improper alignment can adversely affect reproduction. In the unlikely event that the author did not send a complete manuscript and there are missing pages, these will be noted. Also, if unauthorized copyright material had to be removed, a note will indicate the deletion. UMI® UMI Microform EC55942 Copyright 2011 by ProQuest LLC All rights reserved. This microform edition is protected against unauthorized copying under Title 17, United States Code. ProQuest LLC 789 East Eisenhower Parkway P.O. Box 1346 Ann Arbor, Ml 48106-1346 ACKNOWLEDGEMENTS This thesis was prepared under the supervision of Professor Willy Sellekaerts, Ph.D. His continuous interest in this thesis has substantially improved the final product, his contribution was especially significant in chapter II where he did most the model building. The writer is also indebted to the University of Ottawa, for unlimited use of its computer and other research facilities, to Mr. John Kuiper, Chairman of the Department of Economics for the use of his computer program, to Mr. Donald A. McFetridge, Economist at the Prices and Incomes Commission, for a draft of a paper on Administered Pricing in Canada and to Professor William Baldwin of Darmouth College for his useful comments on a draft presentation of the results. -
Complexity and the Theory of the Firm
Innovation, Creative Destruction and Price Theory By Harry Bloch (Curtin University, Perth Australia) and Stan Metcalfe (University of Manchester, Manchester UK) Revised April 2017 Corresponding author: Prof. Harry Bloch, Email: [email protected] Mail: School of Economics and Finance, Curtin University, GPO Box U1987, Perth WA 6845, Australia Prof. Stan Metcalfe Email: [email protected] Mail: Manchester Institute of Innovation Research, University of Manchester, Manchester, UK 1 Innovation, Creative Destruction and Price Theory Abstract Our purpose in this paper is to consider developments in price theory required to facilitate the evolutionary analysis of economic change. Evolution is always a matter of change and, although its driving force is innovation, the price mechanism is central to how innovations are resolved into economic development. That is Schumpeter’s great theme but he said relatively little about who sets prices or how and why prices are changed. We focus particularly on price determination in markets disrupted by innovations, where firms are necessarily heterogeneous. We contrast the evolutionary paths followed by prices and market structure when prices are determined by market clearing to the paths when prices are determined through the application by firms of administered rules and routines to achieve their strategic objectives. This links the analysis to theories of administered prices and post-Keynesian price theories more broadly. Interaction of innovators with their customers and with established competitors create the context for the evolution of pricing rules along with differential firm growth, which together generates structural change in the industry and the economy. We show that analysing how the introduction and diffusion of innovations impact on the rules and routines provides the foundation for a broadly applicable evolutionary price theory. -
GEORGE J. STIGLER Graduate School of Business, University of Chicago, 1101 East 58Th Street, Chicago, Ill
THE PROCESS AND PROGRESS OF ECONOMICS Nobel Memorial Lecture, 8 December, 1982 by GEORGE J. STIGLER Graduate School of Business, University of Chicago, 1101 East 58th Street, Chicago, Ill. 60637, USA In the work on the economics of information which I began twenty some years ago, I started with an example: how does one find the seller of automobiles who is offering a given model at the lowest price? Does it pay to search more, the more frequently one purchases an automobile, and does it ever pay to search out a large number of potential sellers? The study of the search for trading partners and prices and qualities has now been deepened and widened by the work of scores of skilled economic theorists. I propose on this occasion to address the same kinds of questions to an entirely different market: the market for new ideas in economic science. Most economists enter this market in new ideas, let me emphasize, in order to obtain ideas and methods for the applications they are making of economics to the thousand problems with which they are occupied: these economists are not the suppliers of new ideas but only demanders. Their problem is comparable to that of the automobile buyer: to find a reliable vehicle. Indeed, they usually end up by buying a used, and therefore tested, idea. Those economists who seek to engage in research on the new ideas of the science - to refute or confirm or develop or displace them - are in a sense both buyers and sellers of new ideas. They seek to develop new ideas and persuade the science to accept them, but they also are following clues and promises and explorations in the current or preceding ideas of the science. -
Mineral Blocks for Ruminants in Malaysia 213
cover.eps 26-11-2007 0:33:0:33:1515 164 164 ISSN 0254-6019 FAO ANIMAL PRODUCTION AND HEALTH C Feed SupplementationBlocks M In facing ever more limited resources and changing market conditions and in the attempt Y to enhance productivity for strengthening livelihoods, many technologies have been used CM to improve feed use and animal performance at the farm level. A particularly successful example, in terms of both geographic range of use and relative simplicity in formulation paper MY and preparation, is the urea-molasses multi-nutrient block technology. This publication CY provides a comprehensive overview of development and use of the block technology in CMY countries around the world and it might be of great practical value to extension workers, K students, researchers and those thinking of using such feed supplementation technology or of starting commercial production. FEED SUPPLEMENTATION BLOCKS Urea-molasses multinutrient blocks: simple and effective feed supplement technology for ruminant agriculture ISBN 978-92-5-105438-3 ISSN 0254-6019 978 9 2 5 1 0 5 4 3 8 3 TC/M/A0242E/1/11.07/1000 FAO Cover photographs: Centre: © Michael W. Davidson and Florida State University Right: M. A. S. Khan 164 FAO ANIMAL PRODUCTION AND HEALTH paper FEED SUPPLEMENTATION BLOCKS Urea-molasses multinutrient blocks: simple and effective feed supplement technology for ruminant agriculture Edited by Harinder P.S. Makkar Joint FAO/IAEA Division of Nuclear Techniques in Food and Agriculture and Manuel Sánchez and Andrew W. Speedy Animal Production and Health -
District Census Handbook, 11 Ahmedabad
CENS:US 1961 GUJARAT DISTRICT CENSUS HANDBOOK 11 AHMEDABAD [)ISTRICT R. K. TRIVEDI Superintendent of Census Operations, Gujarat PRICE 'as. 9.45 nP. DISTRICT AHMEDABAD • M~H'ANA - J' .' :" ." ..... : .•. .... , REFERENCES ., DiSTRICT H Q S TALUKA H Q -- D,STRICT BOUNDARY ..•.••.•• TALUKA BOUNDARY :tmm BROAO GAUGE - METER GAUGE .,e= CANAL _RIVER ® RUT HOUSE ® POLICE STATION o LlNI"HAet~!~ • VILLAGE~ • VILLAGe2ooo~ • VILLAGE _ 50._ e TOWN 1!!!!J MUNICIPALITY -=- NATIONAL HIGHWAY = STATE HIGHWAY ---- LOCAL ROAD PO POST OFFICE P T POST • TELEGRAPH CENSUS OF INDIA 1961 LIST OF PUBLICATIONS CENTRAL GOVERNMENT PUBLICATIONS Census of India, 1961 Volume V-Gujarat is being published in the following parts: I-A General Report I-B Report on Vital Statistics and Fertility Survey I-C Subsidiary Tables II-A General Population Tables II-B (1) General Economic Tables (Tables B-1 to B-IV-C) II-B (2) General Economic Tables (Tables B-V to B-IX) I1-C Cultural and Migration Tables III Household Economic Tables (Tables B-X to B-XVII) IV-A Report on Housing and Establishments IV-B Housing and Establislunent Tables V-A Tables on Scheduled Castes and Scheduled Tribes V-B Ethnographic Notes on Scheduled Castes and Scheduled Tribes (including reprints) VI Village Survey Monographs (25 Monographs) VI I-A Selected Crafts of Gujarat VII-B Fairs and Festivals VIIJ-A Administration Report-Enumeration Not for Sa)"'_: VIII-B Administration Report-Tabulation } -~( IX Atlas Volume X Special Report on Cities STATE GOVERNMENT PUBLICATIONS 17 District Census Handbooks i~ English -
On the Neoclassical Tradition in Labor Economics
On the Neoclassical Tradition in Labor Economics Bruce E. Kaufman Department of Economics Georgia State University Atlanta GA 30303 April 8, 2002 [email protected] The author acknowledges with appreciation the helpful comments received from John Addison, Barry Hirsch, and John Pencavel on an earlier draft of this paper. 1 Abstract In a recent article George Boyer and Robert Smith describe the development of the neoclassical tradition in labor economics. In this paper I re-examine this subject and provide an alternative account of the evolution of thought in the field. I argue Boyer and Smith incorrectly define both the institutional and neoclassical approaches to labor market analysis. The essence of institutional economics is not a fact-gathering, descriptive approach, but a paradigm built on property rights, a behavioral model of the human agent, and theories of imperfect competition. In the case of the neoclassical paradigm, they err by defining it too broadly, making it largely coterminous with constrained optimization. What they refer to as neoclassical labor economics is actually divided into two separate theoretical approaches, one a market-clearing approach associated with the modern Chicago School and the second a nonmarket-clearing approach associated with economists of what I refer to as the "Cambridge Group." Viewed in this manner, the early institutionalists, the postwar labor economists (e.g., Dunlop, Kerr, Lester, and Reynolds), and the labor economists affiliated with the Cambridge Group are all within a common stream of economic thought built around Keynesian economics at the macro level and various non-clearing market models at the micro level. -
Price Behaviour and Business Behaviour
Department of Economics Discussion Paper 1990 PRICE BEHAVIOUR AND BUSINESS BEHAVIOUR Jonathan Nitzan This paper is a draft of work in progress Department of Economics McGill University 855 Sherbrooke St. West Montreal, Quebec H3A 2T7 Contents Abstract 1 Introduction 2 1. The Administered Price Controversy: Beginnings 4 2. Price Flexibility: Fact or Fancy? 8 3. ‘Full-Cost’ Pricing 14 4. The Marginalists’ Counterattack 18 5. The ‘Target’ Rate of Return 24 6. The Anthropology of Business Behaviour: An Interpretation 29 References 31 Abstract The present essay is the second in a series of three papers which examine alternative approaches to inflation. Here we identify some of the principal criticisms expressed against neoclassical views on price behaviour and business behaviour. These challenges grew from the early discovery of ‘administered prices’ by Means and the subsequent findings by Hall and Hitch regarding ‘full-cost’ pricing. The notions that industrial prices were relatively inflexible and that businessmen set those prices by imprecise rules-of-thumb stood in sharp contrast to the pristine simplicity of neoclassical models. Yet these attempts for greater realism seemed to undermine the prospects of constructing a coherent theory for prices. 1 Introduction The economic and political turbulence of the 1930s spawned a number of serious challenges to the hegemony of classical economic doctrines. Of these challenges, only Keynes’ ‘new economics’ was broadly accepted and assimilated into the mainstream of economic thinking. Keynes was successful partly because his policy propositions sought to reform capitalism while preserving its underlying structure. According to Keynes, the malfunctioning of the system stemmed primarily from a chronic lack of synchronization between the ‘propensities’ of consumers and the ‘animal spirits’ of investors. -
State District Branch Address Centre Ifsc Contact1 Contact2 Contact3 Micr Code
STATE DISTRICT BRANCH ADDRESS CENTRE IFSC CONTACT1 CONTACT2 CONTACT3 MICR_CODE ANDAMAN NO 26. MG ROAD AND ABERDEEN BAZAR , NICOBAR PORT BLAIR -744101 704412829 704412829 ISLAND ANDAMAN PORT BLAIR ,A & N ISLANDS PORT BLAIR IBKL0001498 8 7044128298 8 744259002 UPPER GROUND FLOOR, #6-5-83/1, ANIL ANIL NEW BUS STAND KUMAR KUMAR ANDHRA ROAD, BHUKTAPUR, 897889900 ANIL KUMAR 897889900 PRADESH ADILABAD ADILABAD ADILABAD 504001 ADILABAD IBKL0001090 1 8978899001 1 1ST FLOOR, 14- 309,SREERAM ENCLAVE,RAILWAY FEDDER ROADANANTAPURA ANDHRA NANTAPURANDHRA ANANTAPU 08554- PRADESH ANANTAPUR ANANTAPUR PRADESH R IBKL0000208 270244 D.NO.16-376,MARKET STREET,OPPOSITE CHURCH,DHARMAVA RAM- 091 ANDHRA 515671,ANANTAPUR DHARMAVA 949497979 PRADESH ANANTAPUR DHARMAVARAM DISTRICT RAM IBKL0001795 7 515259202 SRINIVASA SRINIVASA IDBI BANK LTD, 10- RAO RAO 43, BESIDE SURESH MYLAPALL SRINIVASA MYLAPALL MEDICALS, RAILWAY I - RAO I - ANDHRA STATION ROAD, +91967670 MYLAPALLI - +91967670 PRADESH ANANTAPUR GUNTAKAL GUNTAKAL - 515801 GUNTAKAL IBKL0001091 6655 +919676706655 6655 18-1-138, M.F.ROAD, AJACENT TO ING VYSYA BANK, HINDUPUR , ANANTAPUR DIST - 994973715 ANDHRA PIN:515 201 9/98497191 PRADESH ANANTAPUR HINDUPUR ANDHRA PRADESH HINDUPUR IBKL0001162 17 515259102 AGRICULTURE MARKET COMMITTEE, ANANTAPUR ROAD, TADIPATRI, 085582264 ANANTAPUR DIST 40 ANDHRA PIN : 515411 /903226789 PRADESH ANANTAPUR TADIPATRI ANDHRA PRADESH TADPATRI IBKL0001163 2 515259402 BUKARAYASUNDARA M MANDAL,NEAR HP GAS FILLING 91 ANDHRA STATION,ANANTHAP ANANTAPU 929710487 PRADESH ANANTAPUR VADIYAMPETA UR -
Unpaid Dividend List
Statement showing unpaid/unclaimed dividend of financial year 2015‐2016 as on 18th September,2020. Investor First Name Investor Middile Name Investor Last Name Address Country State Pincode Amount Due Date of Transfer to IEPF SURENDRA MANUBHAI ENGINEER A‐2, BHARAT APPTS., BEHIND TELEPHONE EXCHANGE CHEMBUR NAKA , INDIA Maharashtra 400071 396 27‐Nov‐2023 M R SSINIVAS H NO 7/1/989 SHANKER VEEDHI , , INDIA Maharashtra 39 27‐Nov‐2023 R VIJAYA AMAAJU H NO 7/1/989 SHANKER VEEDHI , , INDIA Maharashtra 39 27‐Nov‐2023 RAJA R 11, KINNIMANGALAM STREET THENKARAI , , PERIYAKULAM INDIA Tamil Nadu 625601 6 27‐Nov‐2023 KUMAR S KS 4/9, KULOTHUNGAN STREET , , , SIVAGANGAI INDIA Tamil Nadu 630561 9 27‐Nov‐2023 SURESH NAIR 21/337 ADARSH NAGAR PRABHADEVI P O WORLI , MUMBAI INDIA Maharashtra 400025 198 27‐Nov‐2023 FRANK COELHO TECHNIC ENTERPRISES LALBAGH FORT ROAD 4/2 4TH CR , DODDAMALAVALI INDIA Karnataka 560004 1560 27‐Nov‐2023 MOHINI DEVI MUNDRA MAIN ROAD RAMBHA GANJAM DIST , ORISSA INDIA Orissa 761028 21 27‐Nov‐2023 NATHMAL MUNDRA MAIN ROAD RAMBHA , , GANJAM DIST INDIA Orissa 761028 9 27‐Nov‐2023 DINESH MONGA H.NO. 163 GALI NO. 8 WEST AZAD NAGAR , DELHI INDIA Delhi 110051 84 27‐Nov‐2023 DEVESH KUMAR SHARMA 176 TARIN BAHADUR GANJ SHREE DHAR SHUKLA MARG , DISTT SAHAJANPUR INDIA Uttar Pradesh 39 27‐Nov‐2023 RUPESH R BADIANI FLAT NO 92 HASSA MAHAL DALAMAL PARK CUFFE PARADE , MUMBAI MAHARASHTRA INDIA Maharashtra 400005 7500 27‐Nov‐2023 SHEELA DEVIDAS MAHAJAN PLOT NO 44B NEAR DR. WAGH'S HOSPITAL RATHI NAGAR VMV ROAD , AMRAVATI MS INDIA Maharashtra 444603 78 27‐Nov‐2023 ROSHNI BHATIA 122, NIRANKARI COLONY AMRITSAR AMRITSAR , AMRITSAR INDIA Punjab 143001 78 27‐Nov‐2023 MANJU DEVI MAHAMIA MAHAMIA HOSPITAL P/O FATEHPUR SHEKHAWATI DIST‐ SIKAR , RAJASTHAN INDIA Rajasthan 332301 315 27‐Nov‐2023 MAHESH RATILAL KOTECHA C/O. -
China and Mongolia Department Series Reforming Prices Public Disclosure Authorized the Expenrence of China, Hungary, and Poland Public Disclosure Authorized
LA)rPO I~ J Public Disclosure Authorized SL. n+- iAN( World Bank Discussion Papers China and Mongolia Department Series Reforming Prices Public Disclosure Authorized The Expenrence of China, Hungary, and Poland Public Disclosure Authorized Anand Rajaram Public Disclosure Authorized Recent World Bank Discussion Papers No. 90 ImplementingEducational Policies in Zambia. Paul P. W. Achola No. 91 ImplementingEducational Policies in Zimbabwe.0. E. Maravanyika No. 92 InstitutionalReforms in SectorAdjustment Operations: The WorldBank's Experience.Samuel Paul No. 93 Assessmentof the PrivateSector: A Case Study and Its MethodologicalImplications. Samuel Paul No. 94 Reachingthe Poorthrough Rural PublicEmployment: A Suvweyof Theoryand Evidence.Martin Ravallion No. 95 Educationand Development: Evidencefor New Priorities.Wadi D. Haddad and others No. 96 HouseholdFood Securityand the Role of Women.J. Price Gittinger and others No. 97 Problemsof DevelopingCountries in the 1990s. VolumeI: GeneralTopics. F. Desmond McCarthy, editor No. 98 Problemsof DevelopingCountries in the 1990s. Volume11: Country Studies.F. Desmond McCarthy, editor No. 99 PublicSector Management Issues in StructuralAdjustment Lending. Barbara Nunberg No. 100 The EuropeanCommunities' Single Market: The Challengeof 1992for Sub-SaharanAfrica. Alfred Tovias No. 101 InternationalMigration and Developmentin Sub-SaharanAflica. VolumeI: Overview.Sharon Stanton Russell, KarenJacobsen, and WilliamDeane Stanley No. 102 InternationalMigration and Developmentin Sub-SaharanAfrica. Volume11: Country Analyses. Sharon Stanton Russell, KarenJacobsen, and WilliamDeane Stanley No. 103 AgriculturalExtensionfor Women Farmersin Africa.Katrine Saito and C. Jean Weidemann No. 104 EnterpriseReform and Privitizationin SocialistEconomies. Barbara Lee andJohn Nellis No. 105 Redefiningthe Role of Govemmentin Agricultureforthe 1990s. Odin Knudsen, John Nash, and others No. 106 SocialSpending in Latin America:The Story of the 1980s. Margaret E. Grosh No. 107 Kenya at the DemographicTurning Point? Hypotheses and a ProposedResearch Agenda. -
City Wise List of Linked Local Cable Operators of M/S GTPL Hathway, As Reported to TRAI, on 25.05.2015
City wise List of Linked Local Cable Operators of M/s GTPL Hathway, as reported to TRAI, on 25.05.2015. Name of City S. No Name of State (Area of Name of Linked LCO Address of Linked LCO operation) 1 BIHAR PATNA B.S.V CABLE NETWORK PAHARPUR,POLICE COLONY, ANISABAD, PATNA, BIHAR, 0 2 BIHAR PATNA S.R CABLE NETWORK S/O LATE. SUNDAR PRASAD, SOUTH MANDIRIKATHPULPATNA, REENA VILLA SHANTINIKETAN, PATNA, PATNA, BIHAR, 800001 3 BIHAR PATNA ANIKIT VISION DHANOOTRUPASPURPATNA, PATNA, REENA VILLA SHANTINIKETAN, PATNA, PATNA, BIHAR, 801506 4 BIHAR PATNA VINOD CABLE NETWORK S/O LAXMI MAHTONIKASH PIND, PATNACITYREENA VILLA SHANTINIKETAN, PATNA, PATNA, PATNA, BIHAR, 800008 5 BIHAR PATNA ANMOL NAMAN CABLE NETWORK S/O LT.BRIJNANDAN PRASAD YADAVLODIPURKESHAVLAALROAD, , REENA VILLA SHANTINIKETAN, PATNA, PATNA, BIHAR, 800001 6 BIHAR PATNA N‐BUDDHA CABLE NETWORK DUJRA PURBI GALIBUDDHA COLONYPATNA, , REENA VILLA SHANTINIKETAN, PATNA, PATNA, BIHAR, 800001 7 BIHAR PATNA RANJAN ENTERPRISES DR.JANARDHAN GALINEAR PURANDAPUR JAKANPUR, , REENA VILLA SHANTINIKETAN, PATNA, PATNA, BIHAR, 800001 8 BIHAR PATNA M/S MADAN CABLE NETWORK PATNA NAGAR NIGAMSHEK BUCHER KA CHAURAHA, DURGA CHARAN LANE NEAR SHIV MANDIRP.O GULZARBAGH, PS‐ ALAM GUNJ PATNA, PATNA, PATNA, BIHAR, 800007 9 BIHAR PATNA MAA MANGLA GAURI CABLE LAXMI NIWAS KADAM KUAN CHORI MARKET, , REENA VILLA NETWORK SHANTINIKETAN, PATNA, PATNA, BIHAR, 800003 10 BIHAR PATNA ENTERTAINMENT CITY CABLE N/W DAHUA CHAK NAGLA, MALSALAMI, PATNA, PATNA, PATNA, (RC BIHAR, 800008 11 BIHAR PATNA SONY MANORANJAN NETWORK BHAISANI TOLA, MALSALAMI, PATNA, PATNA, PATNA, BIHAR, (RC) 800008 12 BIHAR PATNA PAWAN CABLE NETWORK(JMD) BADI NAGLA, MALSALAMIPATNA CITY, PATNA, PATNA, PATNA, BIHAR, 800008 City wise List of Linked Local Cable Operators of M/s GTPL Hathway, as reported to TRAI, on 25.05.2015.