Economic Theory Commons^™

Working Paper No. 25, On The Importance Of Contributions By Robert Torrens, Mitchell Veele

Working Papers in Economics

This inquiry seeks to establish that although hardly recognized, Robert Torrens’ contributions prove significant and also provided bases for advances later credited to David Ricardo. In his first published work, An Essay on the External Corn Trade [1815], Torrens discusses at length the negative consequences of Britain’s Corn Laws, based upon the practice of restricting foreign corn imports. Through this prescient work, Torrens should be considered as the first to advance several concepts and principles that prove foundational for classical economic thought. Though attributed to David Ricardo, the principle of comparative advantage was actually first described by Torrens and another …

Working Paper No. 04, Marx And Religion, Lauren Sweger-Hollingsworth

Working Papers in Economics

This inquiry seeks to establish that, in his writings, Karl Marx offers his perspectives on religion. The origins of Marx’s conception of religion can be traced to his family history, adolescence, and time at the University of Berlin. Marx’s criticism of contemporary philosophy offers a penetrating account of his views on religion, proving critical of the individualism and idealism implemented by his contemporaries. In Marx’s judgement, religion offers a false sense of solace in a world marked by abuse. Religion rationalizes domination, sows societal divisions, and preserves oppressive institutions. Marx’s materialist approach focuses on the real-life relations and activities within …

Working Paper No. 05, Proudhon, Bakunin And Anarcho-Socialism, Lauren Sweger-Hollingsworth

Working Papers in Economics

This inquiry seeks to establish that Pierre-Joseph Proudhon and Mikhail Bakunin advanced ideas supporting what can be identified as anarcho-socialism, and the distinctness in their approaches can also be associated with splits that emerged with the First International Workingmen’s Association. For Proudhon, the institution of property entrenches inequality. In Proudhon’s judgement, society must orient towards advancing independence, proportionality, equality, and individual autonomy without limitations from legal structures. In Bakunin’s anarcho-socialist view, society must reject all forms of authority. In Bakunin’s conception of society, economic and political structures must be constructed from base to summit, founded upon the rights of free …

Working Paper No. 13, Friedrich List And National Development, Mitch B. Priestley

Working Papers in Economics

This inquiry seeks to establish that Friedrich List offers an approach to national economic development based upon implementing policies. List conceptualizes and describes a situation wherein the United States, along with Germany and some other Continental European countries, face challenges dissimilar to Britain. List emphasizes an alternate approach towards national development that flies in the face of Adam Smith’s laissez-faire, free-trade prescription, focusing instead upon the powers of production, that he suggests, offer a proper measure of a nation’s wealth. List is a limited protectionist who advocates for national policies suited to a nation based upon its history and level …

Working Paper No. 18, Thomas Piketty On Capital And Inequality, Max Randall

Working Papers in Economics

This inquiry seeks to establish that, in his Capital in the Twenty-First Century, Thomas Piketty advances ideas concerning the origins and implication of economic inequality. Piketty commences his inquiry by considering and detailing wage differences amongst distinct classes of society. This mechanism for the distribution of income is compared across selected nations, and the differing tendencies over time are examined in detail. Distinct from working wages, Piketty considers income effects associated with capital ownership. Adding to this, Piketty shows that effects of inheritance need be considered as capital is passed to successive generations, thereby allowing the accruing of monetary …

Working Paper No. 20, Veblen And The Question Of Sexual Selection, Jenica M. Kramer

Working Papers in Economics

This inquiry seeks to counter a hypothesis recently advanced by Jon D. Wisman; which states that Thorstein Veblen “missed” the opportunity to incorporate sexual selection into his evolutionary economics. To the contrary, I shall argue that Veblen’s vision is not at all lacking and that he intentionally failed to integrate into his evolutionary thinking the animal drive of sexual selection. First-off, I offer an account of Wisman’s thesis and this is followed by a refutation of his argument while making use of Veblen’s key concepts. Tracing the evolution of “conspicuous consumption” to its social inception, I endeavor to reveal the …

Working Paper No. 23, Hyman Minsky And Financial Instability, Gabriel Caballero

Working Papers in Economics

Hyman Minsky can readily be categorized as a post-Keynesian economist, for he advances a purist’s interpretation of John Maynard Keynes’ The General Theory of Employment, Interest and Money. Through employing a rigorous Keynesian framework, Minsky developed an enduring contribution to the literature bearing the title: “The Financial Instability Hypothesis” (1992), that appears as Working Paper No. 74 at the Jerome Levi Institute. In this document Minsky considered forces and variables that induce financial instability—that are also specific to advanced capitalist economies. He challenges the classical economists and the notion that a general equilibrium will prevail. Instead, Minsky goes on to …

Working Paper No. 27, Processes In Capital Accumulation Leading Towards Inequality, Matthew Perez

Working Papers in Economics

This inquiry considers, compares, and contrasts two different theoretical explanations of processes leading towards capital accumulation and also inequality. First considered is Immanuel Wallerstein’s Historical Capitalism. In this book he advances and stresses that processes leading towards capital accumulation are inherently unequal, as these processes are based upon commodification, proletarization, and jurisdiction. The second part considers the views advanced by Thomas Picketty. In his Capital in the Twenty First Century, Picketty offers a fundamentally different understanding of what drives and leads towards capital accumulation and income inequality. In contrasts to Wallerstein, Picketty explains that the dynamic generating capital …

Working Paper No. 31, Marx And Proudhon: Two Visions Of Socialism, Lillian Garcia

Working Papers in Economics

This inquiry seeks to establish that Karl Marx and Pierre-Joseph Proudhon espoused fundamentally different visions of socialism. Marx regarded Proudhon with initial enthusiasm and joined the left at large in celebrating his 1840 essay, What is Property? However, in 1846, when Proudhon attempted to solve the problems of capitalism in his work, System of Economic of Contradictions or The Philosophy of Poverty, Marx took to his pen for an unsparing attack, authoring his The Poverty of Philosophy. At the crux of their split were two analyses of the status of labor and two competing prescriptions for change. While …

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. 15, Jevons’ Selective Interpretation Of Bentham, Devin Bales

Working Papers in Economics

This inquiry seeks to establish that in The Theory of Political Economy, W. Stanley Jevons offers a selective interpretation of Jeremy Bentham’s notion of utility. Moreover, Jevons does so in a manner that generates enduring implications for Economics as a science. Special emphasis is placed upon Jevons’ use of Bentham’s understanding of the circumstances that direct pursuits of pleasure and avoidance of pain. Emphasized is that Jevons’ omission of ‘fecundity, purity, and extent’ as quantifiers of utility, creates enduring implications that emerged years after his book’s publication in 1871. What is finally considered are some of the difficulties associated …

Synergies And Tradeoffs Among Sdgs And Policies (Syntrap) - June 2019, John A. Oldekop

Forest Collaborative Research

Presentation focuses on the following research questions:

1) Under what conditions do policies and programs aimed at achieving SDG 15—in particular by conserving or restoring forests—promote or inhibit achieving other SDGs?

2) Under what conditions do policies and programs aimed at achieving SDGs other than SDG 15 promote or inhibit achieving SDG 15?

3) Under what conditions do various policies and programs aimed at conserving or restoring forests (SDG 15) have synergies or tradeoffs with each other?

4) What policy lessons can be learnt from cases where synergies and tradeoffs have occurred, and how can these lessons be used to …

Forests And Health In Mexico: Preliminary And Pre-Preliminary Work - June 2019, Alejandro López-Feldman

Forest Collaborative Research

Presentation focuses on subjective wellbeing and natural protected areas in Mexico

Effects Of Water Funds Projects On Forest Loss And Water Quality In Ecuador And Brazil, Allen Blackman, Laura Villalobos

Forest Collaborative Research

Presentation focuses on Water Funds Projects

Devolution And Collective Action In Forest Management: The Case Of China - June 2019, Yuanyuan Yi, Jintao Xu, Gunnar Köhlin

Forest Collaborative Research

This paper examines: Can further devolution trigger collective action in forest management and benefit member households?

Empirically-Informed Agent Based Modeling Of Incentivized Forest Conservation - June 2019, Amare Teklay Hailu

Forest Collaborative Research

Presentation focuses on payment for ecosystem services (PES) and framed field experiment (FFE).

Key Emerging Issues For Forests And Livelihoods In The 21st Century - June 2019, John A. Oldekop, Laura Vang Rasmussen, Arun Agrawal, Anthony Bebbington, David N. Bengston, Allen Blackman, S. Brooks, Iain Davidson-Hunt, Penny Davies, S. C. Dinsi, L. B. Fontana, T. Gumucio, C. Kumar, K. Kumar, P. Meyfroidt, D. Moran, T. H. Mwampamba, Robert Nasi, Margareta Nilsson, Miguel A. Pinedo-Vasquez, Jeanine M. Rhemtulla, William J. Sutherland, C. Watkins, Sarah Jane Wilson

Forest Collaborative Research

Presentation about the FLARE network. The mission of the FLARE network is to establish a Community of Practice that advances the state of knowledge of the intersection of forests and livelihoods. In bringing together stakeholders – researchers, practitioners, donors, and decision makers – FLARE will leverage efforts that enrich the understanding of forest livelihood interactions.

The researchers focus on the most pressing conceptual, political, and practical issues concerning forests and livelihoods.

Connecting Forests And Human Health Using The Demographic And Health Surveys (Dhs), Ranaivo Rasolofoson

Forest Collaborative Research

Presentation focuses on the relationships between ecosystem alteration and human health.

Indonesia, Forest Fires, Haze, Height: Case For Planetary Health Economics - June 2019, Subhrendu K. Pattanayak

Forest Collaborative Research

Presentation focuses on environmental health economics in low and middle income countries.

Impact Of Climate Change On Wildfire Across China, Based On Plot-Level Data From National Forest Inventory - June 2019, Shilei Liu, Jintao Xu

Forest Collaborative Research

Presentation focus on the impact of climate change on wildfires across China.