Especially since N. Okishio (1961), the theory of the tendency of the rate of profit to fall is controversial in Marxist economics because the microeconomic foundations for it seem inadequate. The "Okishian" argument is based on a comparative static equilibrium approach. It is indicated how,...

Even if falsificationism in the strict Popper-Lakatos sense may be too harsh for economics, falsifiability and refutability are eminent criteria for theory appraisal. Hausman's (1997) revision of his (1992) methodology of economics does not come sufficiently close to meeting such a...

The abstract basis of the polity-economy relation is examined in order to comprehend the current economic limitations upon feasible politics. It is argued that contemporary mixed-economies have a deontological (rights/obligations based) rather than a consequentialist (outcomes-based)...

The practice of neoclassical economics is characterized as an 'axiomatic positivism', which is far removed from the official (Popper-Lakatos) methodology of neoclassicism. Hausman (1992) attempts to provide a full revision of that official methodology, for which he takes recourse to the...

The significant increase since the early 1980s in the share of income accruing to capital (rather than labor), in both the United States and the European Union, created the potential for economic stagnation. Stagnation was postponed, however, by the development of the banking sector in these...