Foundations For New Economic Thinking
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Foundations For New Economic Thinking
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Author : S. Dow
language : en
Publisher: Springer
Release Date : 2012-04-11
Foundations For New Economic Thinking written by S. Dow and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-04-11 with Political Science categories.
New economic thinking is in demand in the light of the recent economic crisis. This book equips the reader with a better understanding of current ways of thinking as well as an awareness of other possibilities, providing the foundations for debate in theory and methodology alongside practical implications for policy.
The Unity Of Science And Economics
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Author : Jing Chen
language : en
Publisher: Springer
Release Date : 2015-11-06
The Unity Of Science And Economics written by Jing Chen and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-11-06 with Science categories.
This book presents a new economic theory developed from physical and biological principles. It explains how technology, social systems and economic values are intimately related to resources. Many people have recognized that mainstream (neoclassical) economic theories are not consistent with physical laws and often not consistent with empirical patterns, but most feel that economic activities are too complex to be described by a simple and coherent mathematical theory. While social systems are indeed complex, all life systems, including social systems, satisfy two principles. First, all systems need to extract resources from the external environment to compensate for their consumption. Second, for a system to be viable, the amount of resource extraction has to be no less than the level of consumption. From these two principles, we derive a quantitative theory of major factors in economic activities, such as fixed cost, variable cost, discount rate, uncertainty and duration. The mathematical theory enables us to systematically measure the effectiveness of different policies and institutional structures at varying levels of resource abundance and cost.The theory presented in this book shows that there do not exist universally optimal policies or institutional structures. Instead, the impacts of different policies or social structures have to be measured within the context of existing levels of resource abundance. As the physical costs of extracting resources rise steadily, many policy assumptions adopted in mainstream economic theories, and workable in times of cheap and abundant energy supplies and other resources, need to be reconsidered. In this rapidly changing world, the theory presented here provides a solid foundation for examining the long-term impacts of today's policy decisions.
The Economic Theory Of Costs
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Author : Matthew McCaffrey
language : en
Publisher: Routledge
Release Date : 2017-09-01
The Economic Theory Of Costs written by Matthew McCaffrey and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-09-01 with Business & Economics categories.
The theory of costs is a cornerstone of economic thinking, and figures crucially in the study of human action and society. From the first day of a principles-level course to the most advanced academic literature, costs play a vital role in virtually all behaviors and economic outcomes. How we make choices, why we trade, and how we build institutions and social orders are all problems that can be explained in light of the costs we face. This volume explores, develops, and critiques the rich literature on costs, examining some of the many ways cost remains relevant in economic theory and practice. The book especially studies costs from the perspective of the Austrian or “causal-realist” approach to economics. The chapters integrate the history of economic thought with contemporary research, finding valuable crossroads between numerous traditions in economics. They examine the role of costs in theories of choice and opportunity costs; demand and income effects; production and distribution; risk and interest rates; uncertainty and production; monopsony; Post-Keynesianism; transaction costs; socialism and management; and social entrepreneurship. Together, these papers represent an update and restatement of a central element in the economic way of thinking. Each chapter reveals how the Austrian, causalrealist approach to costs can be used to solve an important problem or debate in economics. These chapters are not only useful for students learning these concepts for the first time: they are also valuable for researchers seeking to understand the unique Austrian perspective and those who want to apply it to new problems.
Foundations For New Economic Thinking
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Author : S. Dow
language : en
Publisher: Springer
Release Date : 2012-04-11
Foundations For New Economic Thinking written by S. Dow and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-04-11 with Political Science categories.
New economic thinking is in demand in the light of the recent economic crisis. This book equips the reader with a better understanding of current ways of thinking as well as an awareness of other possibilities, providing the foundations for debate in theory and methodology alongside practical implications for policy.
Analytical Foundations Of Marxian Economic Theory
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Author : John E. Roemer
language : en
Publisher: Cambridge University Press
Release Date : 1981
Analytical Foundations Of Marxian Economic Theory written by John E. Roemer and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1981 with Business & Economics categories.
This book gives a rigorous view of classical Marxian economic theory by presenting specific analytic models.
The Foundations Of Behavioral Economic Analysis
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Author : Sanjit S. Dhami
language : en
Publisher: Oxford University Press
Release Date : 2016
The Foundations Of Behavioral Economic Analysis written by Sanjit S. Dhami and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016 with Business & Economics categories.
It considers the evidence against the exponential discounted utility model and describes several behavioral models such as hyperbolic discounting, attribute based models and the reference time theory. Part IV describes the evidence on classical game theory and considers several models of behavioral game theory, including level-k and cognitive hierarchy models, quantal response equilibrium, and psychological game theory. Part V considers behavioral models of learning that include evolutionary game theory, classical models of learning, experience weighted attraction model, learning direction theory, and stochastic social dynamics. Part VI studies the role of emotions; among other topics it considers projection bias, temptation preferences, happiness economics, and interaction between emotions and cognition. Part VII considers bounded rationality. The three main topics considered are judgment heuristics and biases, mental accounting, and behavioral finance.
Essays In Contemporary Economics
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Author : George C. Bitros
language : en
Publisher: Springer
Release Date : 2014-11-27
Essays In Contemporary Economics written by George C. Bitros and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-11-27 with Business & Economics categories.
This book is a collection of original essays grouped into four parts under the headings “Greece and European integration,” “Issues in the Methodology of Economics,” “Institutions and the Free Market Economy,” and “Insights for Today from Ancient Greece.” The essays appeal to both researchers in the corresponding fields of knowledge and also to policy makers who are looking for ideas and approaches to confront present day challenges. In particular, given the present state of turmoil in the European Union, the international economy, and democracies in general, most of the essays offer new insights for economic and social policies.
What Is Neoclassical Economics
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Author : Jamie Morgan
language : en
Publisher: Routledge
Release Date : 2015-11-19
What Is Neoclassical Economics written by Jamie Morgan and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-11-19 with Business & Economics categories.
Despite some diversification modern economics still attracts a great deal of criticism. This is largely due to highly unrealistic assumptions underpinning economic theory, explanatory failure, poor policy framing, and a dubious focus on prediction. Many argue that flaws continue to owe much of their shortcomings to neoclassical economics. As a result, what we mean by neoclassical economics remains a significant issue. This collection addresses the issue from a new perspective, taking as its point of departure Tony Lawson’s essay ‘What is this ‘school’ called neoclassical economics?’. Few terms are as controversial for pluralist and heterodox economists as neoclassical economics. This controversy has many aspects because the term itself has different specifications and connotations. Within this multiplicity what we mean by neoclassical matters to pluralist and heterodox economists for two primary reasons. First, because it informs how we view and critique the mainstream; second, because the relationship between heterodox and mainstream economics influences how heterodox economists model, apply methods and construct theory. The chapters in this collection each have different things to say about these matters, with contributions ranging across the work of key thinkers, such as Thorstein Veblen and Kenneth Arrow, applied issues of non-linear modelling of dynamic systems, and key events in the history of economics. This book will be of use to those interested in methodology, political economy, heterodoxy, and the history of economic thought.
The Oxford Handbook Of Professional Economic Ethics
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Author : George F. DeMartino
language : en
Publisher: Oxford University Press
Release Date : 2016-01-04
The Oxford Handbook Of Professional Economic Ethics written by George F. DeMartino and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-01-04 with Business & Economics categories.
For over a century the economics profession has extended its reach to encompass policy formation and institutional design while largely ignoring the ethical challenges that attend the profession's influence over the lives of others. Economists have proven to be disinterested in ethics. Embracing emotivism, they often treat ethics a matter of mere preference. Moreover, economists tend to be hostile to professional economic ethics, which they incorrectly equate with a code of conduct that would be at best ineffectual and at worst disruptive to good economic practice. But good ethical reasoning is not reducible to mere tastes, and professional ethics is not reducible to a code. Instead, professional economic ethics refers to a new field of investigation-a tradition of sustained and lively inquiry into the irrepressible ethical entailments of academic and applied economic practice. The Oxford Handbook of Professional Economic Ethics explores a wide range of questions related to the nature of ethical economic practice and the content of professional economic ethics. It explores current thinking that has emerged in these areas while widening substantially the terrain of economic ethics. There has never been a volume that poses so directly and intensively the question of the need for and content of professional ethics for economics. The Handbook incorporates the work of leading scholars and practitioners, including academic economists from various theoretical traditions; applied economists, beyond academia, whose work has direct and immense social impact; and philosophers, professional ethicists, and others whose work has addressed the nature of "professionalism" and its implications for ethical practice.
A New Economic Theory Of Public Support For The Arts
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Author : Arnaldo Barone
language : en
Publisher: Routledge
Release Date : 2015-12-14
A New Economic Theory Of Public Support For The Arts written by Arnaldo Barone and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-12-14 with Business & Economics categories.
Should the arts receive public support? Can the arts survive in a modern capitalist society? Can economics shed light on the nature of public support, and whether there is a rationale for public intervention? This book undertakes to examine these questions as it explores the ways government and public resources are used to support the arts. This book applies a Veblenian approach to understanding economic development to investigate public support for the arts in an effort to determine whether this approach can elucidate economic rationales for public support. Divided into three parts, the first provides basic information on public support for the arts by surveying support in the United States and Australia. Part two includes a neoclassical overview of the topic while part three presents Veblen’s ideas on economic development. This book will be of interests to researchers concerned with cultural and institutional economics, as well as political economy.