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Revolutions do not consolidate until they blend with the establishment to create a new world. Keynes understood it, and that is why he titled his masterwork The General Theory. But he was unsuccessful in the blending. In 2020-21, it is argued in here, we all follow Keynes, but with insufficient...
Persistent link: https://www.econbiz.de/10015214326
The argument made in this manuscript is that the two traditional macroeconomic tools, fiscal policy and monetary policy, are insufficient to bring back efficiently into equilibrium an economy that has had a major crisis. Both traditional macro-tools only work through the demand side, and there...
Persistent link: https://www.econbiz.de/10015214329
In less than fifteen years, the world has experienced the worst financial crisis since the 1930’s, the worst global pandemic since the flu in 1918, and the largest war fought since the Second World War. This manuscript argues that these crises are not isolated events. The main thesis is that...
Persistent link: https://www.econbiz.de/10015214330
Economic conflict resolution historically has been seen, by the main schools of economic thought, as the distribution of given, scarce resources. The neoclassical school argued that the distribution was efficiently solved by the price system, and the Marxist school argued that a revolution to...
Persistent link: https://www.econbiz.de/10015214333
This paper aims to investigate the optimal operation of grid-connected microgrids (MG). In the grid-connected mode, the MG can connect to the main utility and also can exchange energy with the main grid. This potential can lead to higher reliability and less operation cost. In order to show the...
Persistent link: https://www.econbiz.de/10015264216
In social sciences there has been a long debate between the defenders of institutionalism and those of liberalism. The debate has centered around the relationship that exists between the individual (agent) and the social institutions (social structure). In general, liberalism defends that the...
Persistent link: https://www.econbiz.de/10015214325
In Islamic tradition two sets of works – al-hisbah and al-siyasah al-shar‛iyah – appeared that proved to be a rich source of economic thought of past Muslim thinkers. Works related to al-hisbah generally discussed socio-economic control, moral and market supervision, prevention of...
Persistent link: https://www.econbiz.de/10015218953
The rational pursuit of happiness requires knowledge of happiness and in particular answers to the following four questions: 1: Is greater happiness realistically possible? 2: If so, to what extent is that in our own hands? 3: How can we get happier? What things should be considered in the...
Persistent link: https://www.econbiz.de/10015234189
The presentation aims on refocusing the mainstream debate, starting from looking at work as the central reference rather than seeing the constituting problem of workfare as one of social policy/social security. Of course, at the end the objective is a clearer understanding of how measures aiming...
Persistent link: https://www.econbiz.de/10015267043
principles of Potterian economics are consistent with economists’ models. Many other principles, however, are distorted and … contain numerous inaccuracies, contradicting professional economists’ views and insights. We conclude that Potterian economics …
Persistent link: https://www.econbiz.de/10015268341