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Articles 61 - 82 of 82
Full-Text Articles in Economic Theory
Working Paper No. 34, Rosa Luxemburg And Joan Robinson On The Accumulation Of Capital, Brian Vistica
Working Paper No. 34, Rosa Luxemburg And Joan Robinson On The Accumulation Of Capital, Brian Vistica
Working Papers in Economics
This inquiry seeks to establish that both Rosa Luxemburg and Joan Robinson advanced ideas on the accumulation of capital. Related to their social status in their respective eras, each proposed their distinct ideas on the expansion of production and the accumulation of capital. Both scholars bring into consideration the alarming ways that a seemingly ceaseless expansion in turn calls for an expansion of a marketplace for generating sufficient levels of demand for output. These two authors offer historical examples drawn from around the globe, ranging from the commodification of land on the Indian subcontinent to the Opium Wars in China, …
Working Paper No. 24, Economic Thought During Japan’S Meiji Era, Karson M. Pence
Working Paper No. 24, Economic Thought During Japan’S Meiji Era, Karson M. Pence
Working Papers in Economics
This inquiry seeks to establish that it was Fukuzawa Yukichi who played a key roled in developing ideas that assisted the modernization of Japan, leading up to and especially after the Meiji Reformation of 1868. In An Outline of a Theory of Civilization [1875], Fukuzawa advances a clear understanding that Japan should make the shift from a producer nation to a manufacturer nation, and without having to bear the costs of importing vast sums of foreign capital. Under suspicion that the 250 year rule of the Bakufu left the Japanese economy stagnant and weak, Fukuzawa asserted that the only means …
Working Paper No. 33, Behavioral Assumptions In Jevons And Menger, Yvan Saastamoinen
Working Paper No. 33, Behavioral Assumptions In Jevons And Menger, Yvan Saastamoinen
Working Papers in Economics
In their key works, W. Stanley Jevons (1835-1882) and Carl Menger (1840-1921) introduce crucial behavioral assumptions as these relate to individual and aggregate economic activity. The assumptions found in Jevons’ work primarily focus on the ‘Pain and Pleasure Principle’, originally established by Jeremy Bentham, and how the human characteristic of inevitable variability interacts with basic needs. Subsequently, Menger’s contribution is centered on the idea that the value of a good is inherently subjective and also dependent upon human variability. This inquiry, therefore, seeks to establish that Jevons’ and Menger’s behavioral assumptions led to their being classified as early ‘behavioral’ economists. …
Working Paper No. 12, Technological Convergence And Institutional Evolution In The Energy Sector, James Bennett
Working Paper No. 12, Technological Convergence And Institutional Evolution In The Energy Sector, James Bennett
Working Papers in Economics
Over a span of more than a hundred years, fossil fuel production could be considered as a long-standing ceremonial technology in the Veblenian sense. However in recent times, due to rapid innovation through technological convergence, renewable energy is becoming just as cost effective and threatens to replace fossil fuels. Robert McCullough observes this change in renewable energy costs, in his report “The End of Big Iron”. Thorsten Veblen’s dichotomy between ceremonial and instrumental technologies, and his thoughts on institutional change can also aide in explaining this recent struggle between “ceremonial” fossil fuels and “instrumental” renewable energy technologies. Nathan Rosenberg should …
Working Paper No. 14, Gramsci, Dugger And Hegemony, Devin Bales
Working Paper No. 14, Gramsci, Dugger And Hegemony, Devin Bales
Working Papers in Economics
This inquiry seeks to establish connections between William Dugger’s understanding of subreption leading to corporate hegemony with Antonio Gramsci’s understanding of power and the hegemon. Specifically, this inquiry examines the similarities between both authors’ descriptions and understandings of power in a civil society. Going further, I draw parallels between Gramsci’s description of ‘passive revolution’ as a key process for achieving hegemony and Dugger’s explanation of the role ‘subreption’ plays in the rise of corporate hegemony in the United States. Finally, this inquiry explores connections between Gramsci’s writings on ‘Americanism’ and Dugger’s research into ‘corporate hegemony’. While Dugger does not cite …
Working Paper No. 03, Thorstein Veblen And The Vested Interests, Lauren Sweger-Hollingsworth
Working Paper No. 03, Thorstein Veblen And The Vested Interests, Lauren Sweger-Hollingsworth
Working Papers in Economics
This inquiry seeks to establish the importance of "vested interests" as introduced and relied upon within Thorstein Veblen’s system of reasoning. Veblen considers vested interests from two different perspectives in his 1919 book The Vested Interests and the Common Man. First, Veblen considers the relationships between vested interests and what he terms “the business enterprise”. Veblen takes a historical view, relating vested interests to lingering laws and customs of an old era that continue to be applied in modern times. In addition, Veblen considers vested interests and "the divine right of nations", which he connects to the historical institution of …
Working Paper No. 11, The 'Green' New Deal In Light Of Roosevelt's New Deal, Gabriel Duvidovich
Working Paper No. 11, The 'Green' New Deal In Light Of Roosevelt's New Deal, Gabriel Duvidovich
Working Papers in Economics
This inquiry seeks to establish that the current proposal for a Green New Deal shares similarities and dissimilarities with Roosevelt´s New Deal. The House Resolution submitted to Congress at the beginning of 2019 proposes public policies that aim to address global warming, inspired by how Franklin Roosevelt´s New Deal addressed the Great Depression. The first part of this essay will analyze the origin and the main policies of Roosevelt´s New Deal. Moreover, the article will examine the policy foundations proposed on the Green New Deal House Resolution. Finally, the inquiry will try to understand the connections between the original New …
Working Paper No. 19, Werner Sombart And National Socialism, Jenica M. Kramer
Working Paper No. 19, Werner Sombart And National Socialism, Jenica M. Kramer
Working Papers in Economics
This inquiry seeks to establish that Werner Sombart serves as an example of an exponent of the German Historical School of Economic Thought who joined the National Socialists. This thesis is explored in three sections. The first examines the historical context in which Sombart was reared, considering aspects of his family life, economic class, education, and early academic career. In addition, this section explores Sombart’s relations to the Historical School and his mentor Gustav Schmoller, as well as Sombart’s relation to Marxism and socialism. The second section of this inquiry seeks to trace the changes in Sombart’s ideology that eventually …
Working Paper No. 29, Lina Khan, New Technologies, And Institutional Reform, Lillian Garcia
Working Paper No. 29, Lina Khan, New Technologies, And Institutional Reform, Lillian Garcia
Working Papers in Economics
This inquiry seeks to establish that Lina Khan’s work brings to light the importance of reforming institutions in order to address the challenges of internet technology. As the dominance of a small number of technology giants has increased to unforeseen proportions, legal mind Lina Khan has emerged as a leading voice in the call for an updated legal framework, as well as a revision of current economic understanding, to address the new forms of monopoly power these firms practice. The first part of this inquiry examines Chicago School dominance over economic thought and its effect on antitrust enforcement over the …
Working Paper No. 10, The Epic Rise And Subtle Fall Of American Herbalism, Julia Schweid
Working Paper No. 10, The Epic Rise And Subtle Fall Of American Herbalism, Julia Schweid
Working Papers in Economics
This inquiry seeks to establish that we can track the development and evolution of herbalism as the initial form of medicine in American economic history. Upon colonization of North America, the indigenous people generously shared their knowledge of plant medicine with the settlers from Europe. The indigenous knowledge combined with the translation of ancient herbal texts created a synthesis of understanding and an important form of cultural exchange. People then began making attempts to standardize the medicine and its potency was compromised with the rise of the industry in patent medicine, or what I have named pseudo herbalism. It was …
Working Paper No. 22, Coffee And The American Independence Movement, Ross Bradner
Working Paper No. 22, Coffee And The American Independence Movement, Ross Bradner
Working Papers in Economics
Coffee has a long history as a motivating force in society, as can be seen through its history in different parts of the world. The introduction of coffee houses to western culture would promote the emergence of a public sphere, and would come to influence revolutionary behavior in both Western Europe and the North American colonies.
Working Paper No. 28, Roots Of The American Labor Movement, Lillian Garcia
Working Paper No. 28, Roots Of The American Labor Movement, Lillian Garcia
Working Papers in Economics
This inquiry seeks to establish that early developments in America’s workforce helped to shape the national labor movement that emerged at the end of the 19th Century. The first section discusses the changing social, economic, and legal landscapes from the colonial era to the Industrial Revolution. The second section examines the history of concerted action amongst the free and bound working classes leading up to 1842, when the case Commonwealth v. Hunt established the previously contested per se legality of labor combinations. The final section discusses developments in labor organization during the decades following Hunt, in which, amidst …
Working Paper No. 38, Baseball In The Nineteenth Century: From Sport To Business, Brian Burres
Working Paper No. 38, Baseball In The Nineteenth Century: From Sport To Business, Brian Burres
Working Papers in Economics
This inquiry seeks to establish that in the 19th century baseball transitioned from a sport to a business activity. At the outset, the game of baseball was first played for the enjoyment of the players and spectators. Typically, teams were composed of players stemming from the towns for which they played, and early organized leagues enacted rules to keep the game played as a serious activity—but for amateurs. As the 19th century came towards its close, these amateur leagues were challenged by the emergence of new, professional leagues, and players took the liberty to play for the teams …
Working Paper No. 08, A Non-Equilibrium Approach To Economics: Towards An Intellectual Biography Of Gunnar Myrdal, Leo Kendall
Working Paper No. 08, A Non-Equilibrium Approach To Economics: Towards An Intellectual Biography Of Gunnar Myrdal, Leo Kendall
Working Papers in Economics
This inquiry seeks to establish that Gunnar Myrdal provided a foundation for and also practiced a non-equilibrium approach to economics. Throughout his career, Gunnar Myrdal was tasked with researching and providing policy for some of the most pressing economic issues of the 20th century. This inquiry considers and examines what I have selected as the most important areas of research over the span of Myrdal’s career, while showing how and why a nonequilibrium was required. First, I start with racial inequality and how Myrdal’s research broke ground on the subject. Next, I consider his key contribution towards understanding regional inequality …
Working Paper No. 35, The Machine Process In Industry And Society: A Veblenian Approach, Emily Pitkin
Working Paper No. 35, The Machine Process In Industry And Society: A Veblenian Approach, Emily Pitkin
Working Papers in Economics
This inquiry considers Thorstein Veblen’s understanding of the machine process and some of its influences. In particular, this paper explores relationships between the machine process and industry, noting the powerful influences of standardization of outputs as well as inputs. In addition, this paper considers some of the implications of the machine process on workers, considering particularly the tendency of the machine process to enforce routines and some of the related effects on “habitual thinking.” Finally, the machine process and its relation to society will be discussed with a focus on its effects on value systems, examining also the ways in …
Working Paper No. 07, Evsey Domar And The Keynesian Tradition, Cesar Maldonado
Working Paper No. 07, Evsey Domar And The Keynesian Tradition, Cesar Maldonado
Working Papers in Economics
This inquiry seeks to establish that Evsey Domar extends Keynes’s thinking and in this manner helps to establish a post-Keynesian tradition. First, I shall consider Keynes’s ideas concerning problems facing market capitalism as appears in his book, The General Theory of Employment, Interest, and Money. Then I shall continue with this inquiry and consider Domar’s insights into expansion and employment and his concerns regarding capital accumulation, as well as his confronting a theory posited by Keynes concerning investment and employment, raising the issue of whether Keynes’s understanding is accurate. The last part of this inquiry deals with Domar’s concerns …
Working Paper No. 06, Towards A Veblenian Theory Of Economic Development: Drawing From Imperial Germany, Cesar Maldonado
Working Paper No. 06, Towards A Veblenian Theory Of Economic Development: Drawing From Imperial Germany, Cesar Maldonado
Working Papers in Economics
This inquiry summarizes and analyzes Thorstein Veblen’s explanations for Imperial Germany’s rapid industrialization. In his book Imperial Germany and the Industrial Revolution, Thorstein Veblen introduces a comprehensive understanding of processes affecting economic development. Technology transfer, human capital and state intervention are the variables that transformed an agrarian feudal Germany into industrialized Imperial Germany. Instead of developing technology over time by trial and error, Germany just transferred already established technology to their country. Since Germany had no established institution they could set up the most modern technologies. The machine process of the industrial system renders it easy to train workers …
Working Paper No. 36, The Rise Of Marginalism: The Philosophical Foundations Of Neoclassical Economic Thought, Emily Pitkin
Working Paper No. 36, The Rise Of Marginalism: The Philosophical Foundations Of Neoclassical Economic Thought, Emily Pitkin
Working Papers in Economics
This inquiry examines the works of the early thinkers in marginalist theory and seeks to establish that certain philosophical assumptions about the nature of man led to the development and ultimate ascendance of neoclassical thought in the field of economics. Jeremy Bentham’s key assumption, which he develops in his 1781 work, A Fragment on Government and an Introduction to the Principles of Morals and Legislation, that men are driven by the forces of pain and pleasure led directly to William Stanley Jevons and Carl Menger’s investigation and advancement of utility maximization theory one hundred years after Bentham, in 1871. …
Working Paper No. 32, Canada And The United States: A Comparison Of Their Philosophical Bases, Lorraine M. Hutton
Working Paper No. 32, Canada And The United States: A Comparison Of Their Philosophical Bases, Lorraine M. Hutton
Working Papers in Economics
Americans and Canadians seem similar in many ways; however, their dissimilar historical experiences have shaped very different attitudes and philosophies that underpin their institutions. Canadians promote equality and collective responsibility under a restrained, parliamentary state, whilst the Americans stress self-reliance, individualism and freedom. Canadians embraced the hierarchical structure of the British and French Empires and Americans revolted against all ties to it. What appear to be minor distinctions between the two countries and cultures are actually fundamental philosophies rooted in the past.
Working Paper No. 09, Martin Heidegger: A Compromised Man, Mark Miller
Working Paper No. 09, Martin Heidegger: A Compromised Man, Mark Miller
Working Papers in Economics
This inquiry seeks to establish that Martin Heidegger registered as a compromised man in his ethics and philosophy. First, through analyzing Heidegger’s roots in Aristotle and the Pre-Socratics, this inquiry will introduce Heidegger’s philosophical compatibility with the Nazi Party. After deciphering his rectorial address in 1933 and subsequent actions during his rectorship of the University of Freiburg, this inquiry considers the level of Nazi indoctrination in Heidegger’s work. Finally, this inquiry carefully considers Heidegger’s compromised character through his actions in the post-‐rectorate phase.
Working Paper No. 62, Uses Of Abduction In Economic Science, Daniel Urban
Working Paper No. 62, Uses Of Abduction In Economic Science, Daniel Urban
Working Papers in Economics
This inquiry considers the meaning of abduction and its uses in Economic Science. Abductive logic is discussed at some length, in order to clarify how it is used in this inquiry. In addition, abduction is traced from its appearances in the writings of pragmatist philosopher Charles Sanders Peirce and how its meaning is later carried on in Thorstein Veblen’s Institutional Economics. Peirce’s influence proves foundational for Veblen’s contributions, as well as for the writings of John Roger Commons. My research suggests that after Commons, Peirce’s influence in economics wanes. Additionally, the use of retroduction in critical realism provides a contemporary …
Working Paper No. 30, On The Origins Of Laissez-Faire, Thomas Breaden
Working Paper No. 30, On The Origins Of Laissez-Faire, Thomas Breaden
Working Papers in Economics
This paper traces laissez-faire back to its French roots, and in particular, to its origins as a political philosophy evoking an economic approach. Related to his visit to France in the 1760s and his personal contacts, we suggest that Adam Smith serves as the link between selected French thinkers and what after Smith’s Inquiry would be widely accepted as a quintessentially Anglo-Saxon tradition in economics. Exploring doctrine, we offer linkages between F. Quesnay, A. Turgot, J.J. Rousseau, and Smith’s ideas. Similarities in Smith’s understanding and the French exponents regarding economic activity vis-a- vis a public sector are presented, along with …