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Articles 31 - 37 of 37
Full-Text Articles in Economic Theory
Institutions, The State, And Economic Development: An Analysis And Evaluation Of Ha-Joon Chang's Critique Of The Dominant Discourse And His Thoughts On State-Led Development Theory, Luke M. Jackson
Electronic Theses and Dissertations
This paper examines two distinct schools of thought on how to best spur economic activity in developing economies. Mainstream economists, like Hernando De Soto and Douglass North, argue private property rights and free markets, and the institutions which nourish and protect them, are the primary driver of economic growth. Heterodox economists, led by prominent author and economist Ha-Joon Chang, acknowledge institutions play an important role in inducing economic activity but challenge the notion institutions are the primary driver of development. They argue targeted state-led investment and regulation are as important, if not more important, than protecting market freedom and private …
Foreign Savings, Financialization And Minsky: How External Capital Flows Pave The Way For Financial Instability In The Face Of Increasing Risk, Marcus C. Fresques
Foreign Savings, Financialization And Minsky: How External Capital Flows Pave The Way For Financial Instability In The Face Of Increasing Risk, Marcus C. Fresques
Electronic Theses and Dissertations
Minsky's Financial Instability Hypothesis has not come without its fair share of criticism. Much ado about Minsky's endogenous business cycle theory stems from a model where boom-time profit opportunities indelibly encourage firms to finance investment by leveraging their fixed capital assets against their internal liquidity. Opposition to Minsky often points to two distinct circumstances that might discourage the external finance of investment: a rise in effective demand and increasing risk. A rise in effective demand can increase the retained earnings of a firm providing more capital to internally finance investment and investment financed from retained earning is less risky than …
A Critique Of The Neoclassical And A Revision Of The Keynesian Theories Of Employment, Yang Liu
A Critique Of The Neoclassical And A Revision Of The Keynesian Theories Of Employment, Yang Liu
Electronic Theses and Dissertations
The neoclassical theory of employment fails to apply to modern capitalism since it claims that unemployment is necessary all voluntary. Its problems are pointed out by Keynes. But, if we look at Keynes’s system, we find that an essential explanation about why modern capitalism suffers from weak demand is not provided. To answer this question an alternative consumption theory is needed. Levine’s consumption theory well explains the condition of under-consumption. Furthermore, a deep problem of capitalism reveals itself: the production format and the distribution pattern of capitalism result in a huge income discrepancy between the working-class and the capitalist-class and …
The Heavy Hand Of Government: An Economic Study Of Obesity, Kanybek Imanakovich Sagynbekov
The Heavy Hand Of Government: An Economic Study Of Obesity, Kanybek Imanakovich Sagynbekov
Electronic Theses and Dissertations
Although there is extensive theoretical and empirical coverage of the incentive effect of an income tax on labor supply in the economics literature, there is no study of the secondary behavioral effects of an income tax. In this thesis, I explore the relationship among income, marginal income tax, and body weight. Namely, I show that under general conditions the Engel curve for the optimal weight is an inverted U-shaped function and the effect of the marginal income tax upon weight is non-linear. The empirical investigation uses two datasets: a panel dataset with 459 state-level observations for US states from 1992 …
A Critique Of Neoclassical Theory Of Health Care Consumption, Xiao Jiang
A Critique Of Neoclassical Theory Of Health Care Consumption, Xiao Jiang
Electronic Theses and Dissertations
The purpose of this thesis is to display an internal critique of the neoclassical theory of health care consumption with the intention of understanding its true merits and limitations. To avoid arbitrariness, instead of criticizing it directly, this thesis first explores the existing scholarly critiques, as well as the developments of this theory in response to these criticisms. What is interestingly observed is that the neoclassical responses tend to systematically fall into two problematic categories – the trade-off between reality and theoretical determinacy, and free-market behavior resolution. Such observation suggests that there is something fundamentally problematic with this theory, which …
Continuing The Great Debate: The Intrinsic Value Of The Leading Index, Seth A. Morgan
Continuing The Great Debate: The Intrinsic Value Of The Leading Index, Seth A. Morgan
Electronic Theses and Dissertations
The following work is a look into the history and value of the composite index of leading indicators. Current and past business cycle theory is explored to demonstrate the relevance of a tool like the composite index of leading indicators. An argument that business cycle theory has not proven sufficient in explaining changes in the direction of the economy is made. The notion that the composite leading index has a proven track record of successfully predicting movements in the economy is reviewed. The conclusion becomes the idea that since theory and its forecasting counterparts have not proven a reliable method …
The Russian Five Year Plan Is Economically Constructive, Oscar M. Duconge
The Russian Five Year Plan Is Economically Constructive, Oscar M. Duconge
Electronic Theses and Dissertations
The Five Year Plan is a plan by which Russia is to place herself among the great nations of the world through process of industrializing her manufacturers, mechanizing her farms and modernizing her business.