Economics Commons^™

Kaldor's Late Contributions, Up Sira Nukulkit

Electronic Theses and Dissertations

Nicholas Kaldor was a famous post-Keynesian theorist who fought on Keynesian revolution in Cambridge with Keynes himself. However, during the last twenty years of his life, Kaldor became engaged with increasing returns theory originated from Adam Smith and Allyn Young. Kaldor propagated the theory even though it was not mature. There were many controversies and critiques to Kaldor's increasing returns theory. Kaldor began to write extensively about this worldview scattered throughout many of his academic papers and essays. This thesis tracks Kaldor's process of theoretical formulation during the last twenty years of his life. It presents Kaldor's view from the …

Moishe Postone And The Critique Of Traditional Marxism: Helplessness And The Present Moment Of The Great Acceleration, Alexander M. Stoner, Andony Melathopoulos

Book Sections/Chapters

This chapter situates Moishe Postone's critique of traditional Marxism in relation to the present moment of the Great Acceleration. We engage a close reading of Postone reinterpretation of Marx's mature theory of capital with specific focus on the linkage between economic growth and ecological degradation, and how this linkage is necessary connected to social domination in modern capitalist society. Postone's Marxian theory is significant because, as we demonstrate, it allows one to grasp societally induced environmental degradation following WWII in a critical and reflexive manner. The chapter concludes by discussing the growing sense of helplessness that defines the present moment …

To Trust, Or Not To Trust: Cognitive Reflection In Trust Games, Brice Corgnet, Antonio M. Espín, Roberto Hernán-González, Praveen Kujal, Stephen Rassenti

ESI Publications

We present results from two studies that show a positive relation between cognitive reflection and trusting behavior, but no significant relation with trustworthy behavior. Our finding holds regardless of individual distributional social preferences and risk aversion. Our results add to a growing body of literature that illustrates the role of cognitive ability in helping explain outcomes in economic experiments.

Bogatá Lectures, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Bogota lectures folder notes by Anwar Shaikh, PhD (23-27_Bogo... p. 1)
• Correspondence regarding final arrangements before travel to Colombia by Claudia Zeleika Casallas Vanoy (23-27_Bogo... p. 2)
• Universidad Javeriana meeting notes by Anwar Shaikh, PhD (23-27_Bogo... p. 4)
• Currie lecture agenda by Universidad Nacional de Colombia (23-27_Bogo... p. 5)
• International seminar program: El Capital 150 años by Proyecto El Capital 150 Aniversario (23-27_Bogo... p. 6).

Front Matter, Anwar Shaikh Phd

Archives of Anwar Shaikh

A text comparisonshows Front_Matter is textually identical to the upload of the First Uncorrected Proofs of Capitalism, page for page, differing only in its underlying file rendering and a later modification date.

Taking Down The Totem: A Post-Keynesian Behavioral Critique Of Neoclassical Economics, Gideon Olshansky

Economics Honors Papers

This thesis critiques neoclassical economic theory. In each chapter, with the exception of the last two, I will examine a different neoclassical theory and reveal its lack of realism, and how said theory cannot apply to the real economy. With each critique, I show how neoclassical economic theories are built vindicate free market capitalism. Therefore, neoclassical theory cannot actually understand the real economy, and anticipate its movements. The lack of realism in their theories, and staunch commitment to free markets, suggests that neoclassical theories should not be at the forefront of economic policy decisions and education programs. In the last …

The Rise And Fall Of Macro (Draft), Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• The rise and fall of macroeconomics by Anwar Shaikh, PhD.

Stock Market Theories, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Stock market theories folder notes by Anwar Shaikh, PhD (23-34_Stoc... p. 1)
• Interest rate nominal & real manuscript notes by Anwar Shaikh, PhD (23-34_Stoc... p. 4)
• Interest rates & inflation manuscript notes by Anwar Shaikh, PhD (23-34_Stoc... pp. 6, 9)
• Capitalism: real competition, turbulent dynamics, and global crises book outline and draft chapters by Anwar Shaikh, PhD (23-34_Stoc... pp. 11-12, 14, 16, 19)
• The new palgrave: a dictionary of economics excerpt by John Eatwell, Murray Milgate, and Peter Newman (23-34_Stoc... p. 29)
• Warranted price-earnings ratio charts and notes by Anwar Shaikh, PhD (23-34_Stoc... p. 42)
• Faculty course …

Micro Foundations Lecture, Anwar Shaikh Phd

Archives of Anwar Shaikh

as an archivist detailing a new entry, analyze the uploaded file and give an outline of the material with all dates standardized, all bullet-point item formatting, and sentence case for titles, and italics for all titles, 1.5 spacing between paragraphs, and expand the published items into full apa references with publisher details and journal information but without internet links, or any further description of the different items, standardize the handwritten notes, emails, and comments into full apa-style manuscript citations so they match the level of formality of the published papers, with all handwritten notes credited to anwar shaikh, phd unless …

Guardian / Doen Foundation Seminar, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Guardian Doen Foundation folder notes by Anwar Shaikh, PhD (23-29_Guar... p. 1)
• Seminar discussion notes on capitalism and new economic models by Anwar Shaikh, PhD (23-29_Guar... p. 2)
• Correspondence regarding the Guardian / Doen Foundation seminar confirmation by Bridgette Mohammed (23-29_Guar... p. 3)
• Presentation outline for mainstreaming new economic models by Anwar Shaikh, PhD (23-29_Guar... pp. 4-5)
• Correspondence regarding seminar schedule and final logistics by Bridgette Mohammed (23-29_Guar... pp. 8-9)
• Biographical profile of Anwar Shaikh by New School University (23-29_Guar... p. 10).

An Evaluation Of The Proposal To Implement A Chained Weighted Cpi, David Lock

Applied Economics Theses

The Bureau of Labor Statistics (BLS) recently developed a way to view price changes in the economy called the chained consumer price index (C-CPI-U). There is much debate over this calculation because, if implemented, it would greatly affect government spending on programs such as Social Security and Veteran benefits. A quick overview of how the C-CPI-U is calculated does not appear to be anything to disagree with. A conclusion which can be drawn, and will be discussed in this thesis, is that the major controversy lies in what will happen to those who benefit from possible reduction of benefits in …

Linnear Standard Prices, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Shaikh, A. (2014, January 17). Linear standard prices [Handwritten research notes with mathematical derivations on standard disaggregation, eigenvalues, and input-output matrices]. Unpublished manuscript. New School for Social Research.
• Shaikh, A. (2015, May 30). Price-value and Wicksell effect [Handwritten research notes with mathematical derivations on normalizations, sufficient conditions for small Wicksell effect, and limits]. Unpublished manuscript. New School for Social Research.
• Shaikh, A. (2014, January 10). Parallel between v/R → 1 and matrix size N → ∞ in effect on A [Handwritten research notes with mathematical derivations referencing Frazer, Duncan, and Collar's work on elementary matrices]. Unpublished manuscript. …

Econophysics Papers, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Shaikh, A. (2014, October 3). Inequality and social structure: Comments on Piketty [Lecture notes, heavily annotated manuscript with handwritten marginalia throughout]. Department of Economics, New School for Social Research. Prepared for presentation; notes "to appear in" Shaikh, A. (2016). Capitalism: Real competition, turbulent dynamics, and global crises. Oxford University Press. [Two versions present in folder: one clean typescript with yellow highlighting, one heavily annotated copy with handwritten notes credited to Anwar Shaikh, Ph.D., and audience notes in additional hands including names "Dennis Badeen," "Tom," and "Elyseum"; annotations include economic formulae, timing cues, and marginal commentary. Accompanied …

Algebraic Summary Of The Macro-Monetary Interpretation, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Moseley, F. Algebraic summary of the macro-monetary interpretation (Unpublished manuscript).
• Shaikh, A. Handwritten notes on value theory and price of production equations (Unpublished manuscript).
• Shaikh, A. Handwritten notes on regenerative capitalism, neoliberalism, and corporate paradigms (Unpublished manuscript).

The New Dynamics Of El Paso's Post Industrial Development: An Analysis Of The El Paso Chihuahua's Ballpark Controversy, Alan Matthew Serna

Open Access Theses & Dissertations

This Thesis has sought to highlight a controversial event that occurred in El Paso, Texas when a wealthy group of local business interests, entered into a public/ private agreement with the City of El Paso to bring Triple-A baseball to the city. In doing so, the partnership drew large amounts opposition to their plan, when it was revealed that the city hall building would be demolished to make way for a new stadium, and that the issue would not be put to a vote. After analyzing all of the behaviors utilized by both opponents and proponents of the ballpark during …

The Impact Of Monetary Policy On The Stock Market, Simin Hojat

Walden Dissertations and Doctoral Studies

Prior studies examining the impact of monetary policy instruments on the equity market have produced mixed results. This problem is important to address because of the substantial impact of monetary policy on the economy and economic resource allocation via the equity market. The purpose of this study was to determine the impact of change in money supply (M2), change in Federal Funds Rate (FFR), and change in Federal Funds Futures (FFF) on the expected rate of returns of publicly traded companies while controlling for the rate of return of the whole equity market and size of the sampled companies. The …

Loose Notes And Papers, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Shaikh, A. (2011, March 27). Notes on imperfect competition, the marginal principle, and entrepreneurship (Handwritten note).
• Graz Schumpeter Centre. (2011, March 27–29). Economic thinking in the classical tradition: symposium in honour of prof. heinz d. kurz on the occasion of his 65th birthday (Conference program). University of Graz (2, 3).
• Shaikh, A. (c. 2015). Notes on the measurement of essentials in economic production, engagement with mandel, and terms of trade in developing countries (Handwritten note) (6).
• Shaikh, A. (c. 2015). Notes on uneven development in the united states and the case and deaton study on deaths of …

Book Galleys With Corrections, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Capitalism: Competition, conflict, crises (Unpublished manuscript) by Anwar Shaikh.

Inequality Pyramid, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Shaikh, A. (September). Wicksell effect (Unpublished manuscript).
• Shaikh, A. (September). Inequality pyramids (Unpublished manuscript).

Chamberlin Monopolistic Competition, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Chamberlin, E. H. (1951). Monopolistic competition revisited. Economica, New Series, Volume 18, Number 72. Blackwell Publishing.

Why Supply Chain Collaboration Fails: The Socio-Structural View Of Resistance To Collaboration Strategies, Stanley E. Fawcett, Matthew W. Mccarter, Amydee M. Fawcett, G. Scott Webb, Gregory Magnan

ESI Publications

Purpose

The relational view posits that supply chain integration can be a source of competitive advantage. Few firms, however, successfully co-create value to attain supernormal relational rents. We therefore elaborate theory regarding the reasons why collaboration strategies fail.

Design/methodology/approach

This study employs a quasi-longitudinal, multi-case interview methodology to explore the reasons why collaboration strategies fail to deliver intended results. We interviewed managers at 49 companies in Period 1 and managers at 57 companies in Period 2. Fifteen companies participated in both rounds of interviews.

Findings

This paper builds and describes a taxonomy of relational resistors. We then explore how sociological …

The Effect Of Earned Vs. House Money On Price Bubble Formation In Experimental Asset Markets, Brice Corgnet, Roberto Hernán González, Praveen Kujal, David Porter

ESI Publications

Does house money exacerbate price bubbles? We compare house money asset market experiments with an earned money treatment where initial portfolios are constructed from a real effort task. Bubbles occur; however, trading volumes and earnings dispersion are significantly higher with house money. We investigate the role of cognitive ability in accounting for the differences in earnings distribution across treatments by using the cognitive reflection test (CRT). Low CRT subjects earned less than high CRT subjects. Low CRT subjects were net purchasers (sellers) of shares when the price was above (below) fundamental value. The opposite was true for high CRT subjects.

Do Prediction Markets Aid Defenders In A Weak-Link Contest?, Cary Deck, Li Hao, David Porter

ESI Publications

Laboratory experiments have demonstrated that prediction market prices weakly aggregate the disparate information of the traders about states (moves) of nature. However, in many practical applications one is attempting to predict the move of a strategic rival. This is particularly important in aggressor–defender contests. This paper reports an experiment where the defender may have the advantage of observing a prediction market on the aggressor's action. The results of the experiments indicate that: the use of prediction markets does not increase the defender's win rate; prediction markets contain reliable information regarding aggressors’ decisions that is not being exploited by defenders; and …

The Role Of The Decision-Making Regime On Cooperation In A Workgroup Social Dilemma: An Examination Of Cyberloafing, Brice Corgnet, Roberto Hernán-González, Matthew W. Mccarter

ESI Publications

A burgeoning problem facing organizations is the loss of workgroup productivity due to cyberloafing. The current paper examines how changes in the decision-making rights about what workgroup members can do on the job affect cyberloafing and subsequent work productivity. We compare two different types of decision-making regimes: autocratic decision-making and group voting. Using a laboratory experiment to simulate a data-entry organization, we find that, while autocratic decision-making and group voting regimes both curtail cyberloafing (by over 50%), it is only in group voting that there is a substantive improvement (of 38%) in a cyberloafer’s subsequent work performance. Unlike autocratic decision-making, …

Peer Pressure And Moral Hazard In Teams: Experimental Evidence, Brice Corgnet, Roberto Hernán-González, Stephen Rassenti

ESI Publications

Team incentives have been found to be particularly effective both in the lab and in the field despite the moral hazard in teams problem identified by Holmström (1982). In a newly developed virtual workplace, we show that, in line with Holmström, moral hazard in teams is indeed pervasive. Subsequently, we find strong evidence for the conjecture of Kandel and Lazear (1992) that peer pressure may resolve the moral hazard in teams problem. Organizations equipped with a very weak form of peer monitoring (anonymous and without physical proximity, verbal threats or face-to-face interactions) perform as well as those using individual incentives.

First Full Uncorrected Proofs Of Capitalism, Anwar Shaikh Phd

Archives of Anwar Shaikh

This collection includes:

• Capitalism: competition, conflict, crises, by Anwar Shaikh. Unpublished — first uncorrected proof, dated October 11, 2015.

Title Page, Anwar Shaikh Phd

Archives of Anwar Shaikh

Capitalism: competition, conflict, crises, by Anwar Shaikh. Unpublished, uncorrected proof, third copy in collection, revised October 25, 2015.

Comment: Entering The "Great School Of Self-Command": The Moralizing Influence Of Markets, Language, And Imagination, Sandra J. Peart

Jepson School of Leadership Studies articles, book chapters and other publications

Economists for centuries have struggled to understand the self-other relationship and its implications for economic life. For economists in the classical tradition of Adam Smith, this was a central question regarding the wealth and flourishing of nations. Later, as this volume demonstrates, the relationship of the self to others was forgotten as economics became associated almost exclusively with the pursuit of what Peter Boettke and Daniel Smith describe as "ruthless efficiency."

In the wake of the 2008 financial crisis and a growing body of experimental and empirical evidence showing the predictive shortcomings of narrow self-interest models, a more capacious economics …

On "Strongly Fortified Minds": Self-Restraint And Cooperation In The Discussion Tradition, Sandra J. Peart, David M. Levy

Jepson School of Leadership Studies articles, book chapters and other publications

Accordingly, this essay explores some unappreciated benefits of discussion. While educators frequently favor discussion as a means to encouraging engaged learning, they nonetheless rarely attempt to explain how or why these benefits arise. More than this, the role of economists from Adam Smith through Frank Knight and his student, James Buchanan, in explaining the benefits associated with discussion has been neglected both within economics and throughout the academy. In this tradition one accepts the inevitability of an individual "point of view" and the good society is one that can govern itself by means of an emergent consensus among points of …

Critique And Transformation: On The Hypothetical Nature Of Ecosystem Service Value And Its Neo-Marxist, Liberal And Pragmatist Criticisms, Andony P. Melathopoulos, Alex Stoner

Journal Articles

Ecosystem service valuation (ESV) attempts to transform the opposition of human economic necessity and ecological conservation by valuing the latter in terms of the services rendered by the former. However, despite a number of ESV-inspired sustainability initiatives since the 1990s, global ecological degradation continues to accelerate. This suggests that ESV has fallen far short of its goals of sustainable social transformation—a failure which has generated considerable criticism. This paper reviews three prominent lines of ESV criticism: 1) the neo-Marxist criticism, which emphasizes the “fictitious” character of ecosystem commodities; 2) the liberal criticism through Friedrich Hayek's concept “scientistic objectivism”; and 3) …