Leontief was and still is one of the most recognized names in economics, inextricably linked to the development of input-output techniques, but throughout his life he remained fiercely critical of other economists' works and of the state of economic science. To understand his bitterness, we go...

Leontief was and still is one of the most recognized names in economics, inextricably linked to the development of input-output techniques, but throughout his life he remained fiercely critical of other economists’ works and of the state of economic science. To understand his bitterness, we go...

This article - designed to give readers unfamiliar with public choice a historical overview and flavor for the kinds of problems considered - is divided into three main sections, "historical origins," the "modern founders of MPE," and a brief description of some "current issues" studied by...

Whilst it is impossible to argue that the earth is flat without fearing ridicule, fallacies in economics are widespread. Such fallacies pervade the intellectual sphere and even influence policy. Professor Geoffrey Wood of the University of Buckingham exposes such popular economic fallacies in...

Although many economists, most notably Strotz, have discussed dynamic inconsistency and precommitment, none have dealt directly with the essence of the problem: self-control. This paper attempts to fill that gap by modeling man as an organization. The Strotz model is recast to include the...

This essay examines the idea and potential of a computational approach to theory,' discusses methodological issues raised by such computational methods, and outlines the problems associated with the dissemination of computational methods and the exposition of computational results. We argue that...

The currently ongoing novel Coronavirus-crisis is an external shock coming down on society with direct impact on societal moods and subsequently connected economic changes. With growing digitalization and quickening of transfer speed, information exchange in the individual involvement to break...

This paper evaluates the contribution of Risk, Uncertainty, and Profit to the development ofeconomic theory in the 20th century. Our argument in this paper is twofold. First, we contend thatthis book embodied what had been the common knowledge of early neoclassical economics priorto WWII....

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...

This article--designed to give readers unfamiliar with public choice a historical overview and flavor for the kinds of problems considered--is divided into three main sections, "historical origins," the "modern founders of MPE," and a brief description of some "current issues" studied by public...

Jim Tobin, who died on March 11, 2002 at the age of 84, was one of giants of economics of the second half of the twentieth century and the greatest macroeconomist of his generation. Tobin's influence on macroeconomic theory is so pervasive - so much part of our professional 'acquis' - that many...

This paper reviews the current academic literature on investment theory with a focus on the modern portfolio theory in longer term investments. There are a variety of different investment instruments in the primary and secondary markets including equities, fixed income products, and financial...

[Vorwort der Herausgeberinnen:] Mit dieser Veröffentlichung starten wir unsere Schriftenreihe des KCV KompetenzCentrum für angewandte Volkswirtschaftslehre der FOM Hochschule. (...) Unser erster Band der KCV Schriftenreihe widmet sich der Corona-Krise. Die Autorinnen und Autoren dieses Bands,...

In this paper, we examine ethnic discrimination against landlords by analyzing whether Arab (minority) landlords receive fewer inquiries than Jewish (non-minority) landlords for available apartments for rent. Two hundred and forty-eight fictitious advertisements for apartments for rent were...

In this discussion paper explains economic theory for research and development (R&D) policy. Dasgupta and Stiglitz (1980) illustrated the reasons for economic theory to be much complicated in the information field. Because economic results in an asymmetric information condition. This in turn...

This paper extends a long tradition of Western analyses of Russian economic thought on Keynes, updating the story through the period that followed the global financial crisis of 2007-2008. We survey contemporary views of Keynesianism by mainstream and traditionalist economists and consider the...

Macroeconomic theory has developed into increasingly sophisticated mathematical models. In the words of Mankiw, macroeconomics has developed from engineering into science. The Global Financial Crisis (GFC) revealed that the empirical relevance and the usefulness of these models is debatable. Why...

Pluralism in economics appears to be a double-edged sword: we need more than one theory to grasp and explain the entire economic world, yet a plurality of possible explanations undermines the aspiration of the economic discipline to provide 'objective knowledge' in the singular of the 'one world...

Dieser Text dokumentiert ein Kurzinterview über Fragen der Normativität ökonomischer Bildung, das im Auftrag der Zeitschrift für Wirtschafts- und Unternehmensethik (zfwu) mit Ingo Pies geführt wurde.

It is generally accepted that Western Europe's exceptional economic performance in the so-called "Golden Age" (1950-73) was primarily due to a catch-up process as countries combined their surplus labour with imported American technology to (partially) close the gap in per capita incomes with the...

"What is the relationship between politics and economics? Many of today's most pressing political issues are economic in nature. Whether it is the question of the distribution of wealth in society or the extent to which international commerce should be encouraged, politics and economics are...

1. Styles of Scientific Reasoning as Historiographical Metaphor: A Reply to Martin Kusch -- 2. The Myth of the Framework and the Modes of Thought in Economics -- 3. Historical Epistemology of Ecological Economics and Styles of Economic Reasoning -- 4. The Crisis of the Historical Style of...

"Now in its 10th edition, Economics by Sloman, Garratt & Guest is known and loved for its active learning, student-friendly approach and unrivalled lecturer and student support. Ithas been specially updated for 2020/21 to take into account the latest developments in the global economy, including...

"Ancient Chinese economic thought has never been related to the evidence of economic practice. We know how state economies were supposed to be run in theory, but not the degree to which economic thought reflected everyday economic activity. Moreover, it is still not clear to what extent economic...

"The Political Economy Reader advocates a particular approach to the study of political economy - the "market-institutional" perspective - which emphasizes the ways in which markets are embedded in political and social institutions. This perspective offers a compelling alternative to the...

This innovative Research Companion considers the history, nature and status of construction economics, and its need for development as a field in order to be recognised as a distinct discipline. It presents a state-of-the-art review of construction economics, identifying areas for further...

"Political Economy Goes to the Movies provides an introduction to political economy using a wide range of popular films and documentaries as the objects of analysis. The work helps readers to understand and analyze the economic and related political, cultural, and ecological relationships...