A Companion to the History of Economic Thought - Chapter 36 pps

... year hit the Midwest and South. Americans saw the closing of the real and symbolic frontier and came to appre- ciate that they no longer had the option of dealing with destruction of the land- scape ... these offers of financial support, and sev- eral professional bodies mobilized to manage the resources, notably the National Bureau of Economic Research, the Soc...

Ngày tải lên: 06/07/2014, 03:20

... ideas. As we have seen, many of them were preoccupied with the importance of trade and payment balances, defined either as a positive balance of trade theory or as a positive balance of labor theory. ... ideas propounding the active role of the state in economic modernization and growth. Although the balance of trade theory was perhaps an analytic blind shot, it was r...

Ngày tải lên: 06/07/2014, 02:20

... that the latter could pay all of the taxes to the king and the Church. Then farmers would no longer fear the tax administrators and their capital would be free of any threat, as would be the agricultural ... while also claiming to have examined in detail the formation and the working of capital and the interest rate. As a matter of fact, while the physiocrats...

Ngày tải lên: 06/07/2014, 02:20

... turn, the capital of the wholesale merchant replaces, together with their profits, the capitals of the farmers and manufacturers of whom he purchases the rude and manufactured products that he deals ... not easily attainable in an age in which the division of labor has increased the quantity of science through special- ization. Smith was aware of the division of l...

Ngày tải lên: 06/07/2014, 02:20

... classical analysis, a tax on wage goods was generally to be passed on, implying that it increased the size of the wage fund), and the division of a given stock of capital between fixed and variable capital. PROFIT Profit, ... land, and increments of rental value. The classical economists approached the analysis of taxation in two different ways. The first was taxation...

Ngày tải lên: 06/07/2014, 02:20

... PHYSICAL REAL COSTS TO QUANTITIES OF LABOR The move away from physical real costs and toward labor was first due to the fact that the relatively backward analytic tools at the disposal of the classical economists ... in a given place and time. The theory of value and distribution was designed to identify in abstracto the dominant factors at work and to analyze the...

Ngày tải lên: 06/07/2014, 02:20

... debate: the free-market utopia, the best-and-brightest utopia, the religious utopia, the Green utopia, and the techno- logical utopia – and he offers his own “civilized egalitarian capitalist utopia.” 13.5 ... notwith- standing the widespread actual changes then taking place, such that reification and idealization was of a changing reality. With the coming of the Renaissa...

Ngày tải lên: 06/07/2014, 02:20

... contemporary theory. A great deal of it remains a rich source for the economic history of the late Victorian and Edwardian eras, because it reflected the insights gained from Marshall’s wanderjahre ... welfare analysis invariably used the marginal apparatus when deriving welfare criteria, therefore adapting these tools of marginalism designed originally to explain indiv...

Ngày tải lên: 06/07/2014, 02:20

... especially of the writings of the late Athanasios (Tom) Asimakopulos, Avi Cohen, John and Wendy Cornwall, Omar Hamouda, Marc Lavoie, Tom Rymes, and – most of all – the late Lorie Tarshis in Canada; the ... and financial matters entered from the start of the analysis, fully integrated with real happenings. Money, analytically, had all its dimensions – a store of value as...

Ngày tải lên: 06/07/2014, 02:21

... (Hamilton, 1919). Hamilton’s paper was clearly intended as a call for the economics profession at large to adopt what he called the “institutional approach.” Hamilton argued that anything that ... discussion of the four-phase cycle driven by an interaction of factors such as the behavior of profit-seeking firms, the behavior of banks, and the leads and lags in the adju...

Ngày tải lên: 06/07/2014, 02:21