Search results for " and Heterodox Approaches"
showing 10 items of 17 documents
Another "French paradox": explaining why interest rates to microenterprises dit not increase with the change in French usury legislation
2015
Conventional wisdom indicates that the growth of credit may not materialize if credit rates remain capped by usury laws, as had long been the case in France. France therefore abolished usury ceilings on loans to microenterprise in an effort to increase financing for microentrepreneurs. This should have led to an increase in interest rates and increase in microcredit. However, we do not find any increase in interest rates and this is therefore a paradox. The paper provides a brief literature review and the salient features of the legislative changes in France. It follows this up with a presentation of interest rate movements. The discussion of possible explanations of the paradox includes cl…
La méthodologie de l'Economie Théorique et Appliquée aujourd'hui, ouvrage édité sous la direction de J. WOLFF avec P. SALMON, B. WALLISER, A. WOLFELS…
1990
International audience
La monnaie et le crédit dans le développement pré-industriel: le cas de Marseille
2019
International audience
Le mouvement des idées monétaires dans l'Europe moderne
2014
Ce chapitre vise à fournir une vue de l'évolution des idées monétaires dans l'Europe moderne. Il s'alimente notamment des textes des auteurs du présent livre pour en dégager quelques leçons. Dans un premier temps, il discutera du sens du substantif " mercantilisme " tel qu'il a été construit depuis le milieu du dix-huitième siècle : examiner les fondements historiques de cette notion permettra d'en montrer les impasses. Il présentera, dans un second temps, une catégorisation des auteurs construite à partir de leur rapport au pouvoir.
Introduction. Les pensées monétaires dans l'Europe moderne : contexte et intentions
2014
Ce texte introduit le livre et présente ses objectifs et sa structure. Ce livre traite du déploiement des idées monétaires dans le monde européen de l'époque moderne, depuis les écrits de Nicolas Copernic (1517) jusqu'à la veille de la publication de l'ouvrage économique majeur écrit par Adam Smith (1776) . Il met l'accent sur le contexte historique dans le cadre duquel ces idées monétaires ont vu le jour. Il montre la grande variété des contextes et des idées bien au-delà des espaces, des auteurs et des thèmes généralement étudiés, en intégrant des territoires peu étudiés par les économistes, en mettant au jour des approches et des auteurs oubliés, en tentant, enfin, de restituer la riches…
Un forum pour la classe ouvrière : l'expérience de L’Atelier
2015
International audience
Monetary Plurality in Economic Theory
2018
The objective of this article is to identify the monetary plurality in economic theory. We will try to throw light on the way in which theories are attracted towards both unicity and plurality, and more specifically by unification and diversification of money. It should also be noted, in this respect, that the economics of money has undergone considerable development since the 1970s. A survey of the diverse theories, whether mainstream or not, static or dynamic, holistic or individualistic, will reveal the surprising amount of attention devoted to the problem of monetary unicity and/or plurality. We base our presentation on two lines of thought: -The first of these lines concerns a situatio…
Le problème du réalisme des hypothèses en économie politique
2010
This is a version, slightly corrected in 2010 with regard to form, of a working paper produced in 1968. Its subject is the problem of the realism of assumptions in economics. It offers an interpretation of Milton Friedman's famous essay of 1953 in which, contrary to most discussions, Friedman's solution to the problem does make sense. Under that interpretation, Friedman does not assert that one should test the consequences of a theory but not its assumptions, that one can predict but not explain, or that individuals behave as if they were rational and firms as if they maximized profits. Such assertions do not make sense and ascribing them to Friedman makes criticism of his position much too…
Debating Sound Money in Early Modern Europe: From Dualist to Metallic Monetary Systems
2019
International audience; In this paper, we present the monetary debates in Europe from the XVIth to the XVIIIth centuries from the viewpoint of the problem of good and sound money. The framework of the paper is built on a typology of monetary systems, by which a dualist system is distinguished from a metallic one. Under the dualist system, the value in units of account of the specie in circulation was defined by monetary proclamations (Einaudi locates this era from Charlemagne to the French Revolution). Metallist proponents aimed at preventing any kind of manipulations with a radical transformation of the system of payment, which gave birth to a metallic monetary system from the very end of …
A Reconsideration of the Role of Forward-Market Arbitrage in Keynes’s and Hicks’s Theories of the Term Structure of Interest Rates
2014
International audience; This paper develops the relationship between Hicks’s and Keynes’s writings on the theory of the term structure of interest rates, and shows in detail how Hicks built on and extended Keynes’s account. According to this theory, the level of the long-term interest rate is determined by expectations of future short-term rates. Keynes’s thinking contained several notions – such as the preferred habitat of lenders, the theory of forward markets, and risk-premiums – which Hicks used to give a more complete theory of the term structure of interest rates. Besides implementing these notions in his own theory, Hicks introduced the concepts of the preferred habitat of borrowers,…