Search results for "History of Economic Thought"

Recensione di Heinz D. Kurz (2016). Economic Thought. A Brief History (translated by Jeremiah Riemer). New York: Columbia University Press, pp. ix + …

2017

Book reviews. Sergio Caruso, Homo Oeconomicus. Paradigma, Critiche, Revisioni, Firenze University Press, Firenze, 2012. Pp.175. €16.90. ISBN: 978-88-…

2014

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 …

The emergence of intangible capital : human, social, and intellectual capital in nineteenth century British, French, and German economic thought

2016

Since the late 1950s the concept of human capital, understood as the stock of knowledge, skills, and abilities that determine individual productivity, has become one of the central tools with which economists explain both individual success and economic growth. During the latter half of the 20th century complementing concepts such as social capital, meaning the value of social networks and norms of reciprocity, and intangible capital, meaning the investments in knowledge and innovation generation, have emerged. The term intellectual capital is sometimes used as a major concept to bind different forms of intangible capital. This study focuses on the conceptual equivalents of these ideas in 1…

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,…

An Economic Definition of the City

1998

International audience

Ursula Hicks and Vera Lutz’s Contributions to Development Finance

2018

International audience; This paper analyses the different approaches of two pioneering economists in the field of development finance, Ursula Kathleen Hicks (1896-1985) and Vera Constance Lutz (1912-1976). While research in economics in the 1950s focuses predominantly on finance in already developed countries (Goldsmith, 1969 and Gurley and Shaw, 1955), Hicks and Lutz extended the analysis to developing countries and/or regions – an original initiative for this period of time. Interested in the study of money and banking, Hicks and Lutz nevertheless had different beliefs on the way to promote economic development. This difference of thought comes from differing philosophical backgrounds.

The three wives problem and Shapley value

2015

We examine the Talmudic three wives problem, which is a generalization of the Talmudic contested garment problem solved by Aumann and Maschler (1985) using coalitional procedure. This problem has many practical applications. In an attempt to unify all Talmudic methods, Guiasu (2010, 2011) asserts that it can be explained in terms of “run-to-the-bank”, that is, of Shapley value in a “cumulative game”. It can be challenged because the coalitional procedure yields the same result as the nucleolus, which corresponds to a “dual game”. As Guiasu's solution is paradoxical (it has all the appearances of truth), my contribution consists in explaining the concepts, particularly truncation, that play …

Vicent Llombart Rosa (1948-2017): obituario. Historiografía y compilación bibliográfica

2017

El doctor Vicent Llombart Rosa fue catedrático de Historia del Pensamiento Económico de la Universitat de València y un reconocido experto en la Ilustración, miembro de la Real Academia de Ciencias Morales y Políticas, decano de la Facultad de Ciencias Económicas y Empresariales de Valencia y consejero del primer gobierno socialista valenciano de la democracia. A continuación se ofrecen su biografía, el resumen de sus principales aportaciones a la historiografía del siglo XVIII y una compilación de su obra académica y periodística. Dr. Vicent Llombart Rosa was Professor of History of Economic Thought at the University of Valencia and a renowned expert in the Enlightenment, member of the Roy…

Limits to Arbitrage and Interest Rates: a Debate Between Keynes, Hawtrey and Hicks

2018

International audience; This paper deals with a debate between Hawtrey, Hicks and Keynes concerning the capacity of the central bank to influence the short-term and the long-term rates of interest. Both Hawtrey and Keynes considered the central bank’s ability to influence short-term rates of interest. However, they do not put the same emphasis on the study of the long-term rates of interest. According to Keynes, long-term rates are influenced by future expected short-term rates (1930, 1936), whereas for Hawtrey (1932, 1937, 1938), long-term rates are more dependent on the business cycle. Short-term rates do not have much effect on long-term rates according to Hawtrey. In 1939, Hicks enters …