Search results for "Classical Economics"
showing 10 items of 54 documents
Développement humain et loi log-périodique
2002
We suggest applying the log-periodic law formerly used to describe various crisis phenomena, in biology (evolutionary leaps), inorganic systems (earthquakes), societies and economy (economic crisis, market crashes) to the various steps of human ontogeny. We find a statistically significant agreement between this model and the data.
Introduction to the English Edition: Birth and Development of an Institutionalist Theory of Money
2020
For a long time, books were the medium of diffusion favoured by researchers seeking to expound their approaches and their findings. The book format enabled authors to unfold their ideas gradually, to debate the arguments advanced by their contemporaries and to situate themselves precisely relative to their predecessors.
Dark Spots in Trade Theory: Early Testing Attempts
2020
The beginnings of the economic theory correspond to philosophers’ attempts to explain why and how do countries trade with each other. Yet even more puzzling was the question how should countries trade? It is no surprise that despite the formidable developments of the theory in the last 200 years plus, there still are dark spots in the economics of trade. Globalization has rendered the issue even murkier. Beside the fact that international trade cannot be insulated from other economic domains, which makes it inadequate for experiments, but even testing itself is cumbersome. Only, evidence on such a complex field as international trade is by no means easy to come by.
Human Nature and Economic Institutions Instinct Psychology, Behaviorism and the Development of American Institutionalism
2003
This paper explores the evolution of the psychological foundation of institutional economics between the early XXc and the 1940s. The first part deals with the rise and fall of instinct psychology. Inspired by Veblen's taxonomy of instinctive behavior, several American economists attempted to build a viable alternative to psychological hedonism of neoclassical economics then only at its infancy. In this debate we show how instinct theory came to be applied to the field now as industrial psychology. The second part discusses some of the reasons why this methodological approach began to lose momentum among leading American institutionalists. In this section we also present the emergence of be…
Culture and current account balances
2014
This article contributes to the literature of current account balances by introducing cultural variables that until now have been omitted. The World Values Survey indicates that the Roman Catholics do not consider thrift as important as others. We propose that Catholic countries tend to run current account deficits. This result remains robust even if we control for close to all of the determinants that have been included in previous studies. We find evidence that the inclination of Catholic countries to have high levels of uncertainty avoidance goes to a great length in explaining the result. peerReviewed
Development of the Happiness Index in a country
2016
[EN] In this paper, a Happiness Index is built through the Human Dignity Respect Index which is explained by Author (2014). The index is created using three main values: development, freedom and equality. But the equality is explained by solidarity, justice and peace. Then, the Happiness Index is developed with this five concepts. The aim of this paper is to obtain the minimum quantitative variables to explain these values as well as to obtain a generic formula, which allows measuring the happiness of a country/region. The term “generic” is introduced because this formula could be extrapolated to any country. The variables to obtain the Development Index are health (Life Expectancy at birth…
“Piero Sraffa: economic reality, the economist and economic theory. An interpretation”.
2007
We carry out a textual analysis of Sraffa's main published contributions to pure economics in order to elaborate a rational reconstruction of an aspect of Sraffa's implicit methodology which has not yet been duly investigated. We refer to the threefold relationship between ‘economic reality’, ‘the economist/observer’ and ‘economic theory’. We elucidate the constraints which, for Sraffa, should bind the economists' arbitrariness and we trace the elements of continuity and evolution from the 1925–6 critique of Marshallian economics to Production of Commodities.
Method and analysis in Piero Sraffa's 1925 critique of Marshallian economics
2000
This paper provides an analysis of the logical structure and analytical content of Piero Sraffa's 1925 Italian paper, ‘Sulle relazioni fra costo e quantita prodotta’. It shows that Sraffa's criticism of the supply side of Marshall's theory of value in a competitive partial equilibrium model involves analytical and methodological issues. Endorsing an agressive methodology Sraffa logically reconstructs Marshall's model on variable returns to determine its empirical domain. He demonstrates that the latter encompasses only the empirically irrelevant cases of specific factor industries and specific external economies industries and that it cannot be generalized to non-specific factor industries …
Intellectual Capital as a Key Factor of Socio-economic Development of Regions and Countries
2013
Abstract The main goal of the paper is to present the concept of intellectual capital (IC) from regional perspective and define intangible assets as knowledge that can be converted into value or profit. Most of the measurement methods designed by now apply for measuring the intellectual capital at corporate level. Some efforts are being made to present the IC concept in the regional perspective. Development of research on a new regional approach to the intellectual capital theory has been noticed. A sample model of IC for countries and its main sub-components have been presented as well. Some selected knowledge indicators for measuring intellectual capital at national level have been illust…