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This essay examines the contemporary discourse on inflation through the lens of Wittgenstein's late work on language games. Using his concept of hinge propositions - beliefs upon which language games depend - I offer a novel perspective on the public good that is price stability. In particular,...
Persistent link: https://www.econbiz.de/10015413135
Keynes, the Keynesians and Monetarism is a major contribution to the continuing debate on macroeconomic policy … since his 1992 collection, Reflections on Monetarism. It challenges several "conventional wisdoms" about UK macroeconomic …-making acknowledges the primacy of monetary policy and would be better termed "output gap monetarism". In short, Keynes, the Keynesians …
Persistent link: https://www.econbiz.de/10012794330
governments' failures in economic policy throughout this period. Reflections on Monetarism brings together his most important …
Persistent link: https://www.econbiz.de/10012794378
The annual announcement of monetary targets which the Deutsche Bundesbank started in 1974 is considered a core element of German monetary policy after the end of the Bretton Woods regime of fixed exchange rates. The paper asks to what extent this reorientation was shaped by monetarist ideas and...
Persistent link: https://www.econbiz.de/10015051518
This paper provides a critical discussion of monetarism and the difficulties of understanding macroeconomic …
Persistent link: https://www.econbiz.de/10013163629
Persistent link: https://www.econbiz.de/10012620063
The Quantity Theory of Money claims to provide one of the few long-run guides to economic policy by providing specific numbers to characterise the correlation between money growth and inflation. Acceptance of the Quantity Theory has been greatly helped by the claim, propounded most effectively...
Persistent link: https://www.econbiz.de/10015376957
Objective: The objective of the article is to refer to the thesis about the need to modify the main paradigm of economic sciences - by which we mean mainstream economics - with all its consequences that influence the whole economic sciences. We posit the need for the modification of how economic...
Persistent link: https://www.econbiz.de/10012800297
Recently, some theological ethicists have criticized modern economics for offering a rival theology that undermines an appreciation for creation and God’s gifts. In their view, through the logic of opportunity cost, economics substitutes a tragic world of scarcity for God’s abundance....
Persistent link: https://www.econbiz.de/10012887525
The aim of this article is to discuss why we should synthesize feminist and post-Keynesian/Kaleckian economics. We answer three related questions. Why does post-Keynesian economics need feminist economics? Why does feminist economics need post-Keynesian macroeconomics? Finally, what is the...
Persistent link: https://www.econbiz.de/10014433732