Search results for "Mainstream economics"
showing 4 items of 4 documents
The Role the Static Maximization Approach Plays in Neoclassical Analyses
1994
This is an article on the methodology of economic thought. The critical assessment of the neoclassical research programme contained here basically comes from the contributions of J.M. Buchanan, Nobel prize winner in Economics 1986. These comments are aimed at pointing out the role that the static maximization approach plays in neoclassical analyses since L. Robbins and P. Samuelson’s influential contributions came about after World War II. Just to complement this basic purpose, I present in section 4 the alternative methodological foundations J.M. Buchanan proposes and uses to replace the static maximization approach when building public choice analyses and I sketch in section 5 several pe…
Developing a conceptual framework for the co-operative and mutual enterprise business model
2018
AbstractThe co-operative and mutual enterprise business model represents a unique type of organisation that has a dual purpose focused on both economic and social goals. For nearly two centuries it has played an important role in economic development, job creation and addressing market failures. However, despite its potential importance to economic development it has been largely ignored within the mainstream economics and management literature. This paper provides an overview of the nature of the co-operative and mutual enterprise business model and also proposes a business model framework or ‘canvas’ that can be used for research, teaching and strategic analysis.
Globalization Is Dead: Long Live the Globalization!?
2018
Globalization was the mainstream paradigm in the last 70 years, long enough to create and explain prosperity and welfare in a connected world. Recently, there are many signs that we are reaching a turning point. From jobs, wages, and unemployment to immigrants and Brexit, all the key debates emphasize that the world is preparing for a new kind of globalization which will be less about countries and multinationals and more about people. There is no doubt that old globalization had winners and losers, but more than ever, the voice of the people who reject globalization was heard in 2016, specifically in the UK and USA. The world will have to deal with new institutions, and technologies and wi…
economics in the mirror of the financial crisis
2011
The structure of the Chapter is as follows. In Section 2 I discuss some of the factors that may have played a role in causing the crisis and emphasise that supporters of different economic theories will assign different weights to each factor in their analyses. As a consequence, suggested economic policies are highly sensitive to the economic theory employed in evaluating the set of causes. In Section 3 I seek to defend economists from the common charge that their inability to foresee the crisis is a clear sign of the lack of scientific status of their discipline. In my view, the main liability of mainstream economics lies elsewhere, in its excessive trust on the self-equilibrating mechanis…