Search Results for argue

.... Garrison on Mises and Forced Saving: Arguing the Implausible? James C. W. Ahiakpor Roger Garrison (2004) defends Ludwig von Mises’s explanation of the mechanism of forced saving against F. A. Hayek’s explanation of the same concept. In the process, Garrison attempts to demonstrate the implausi...

...Amos Witztum The question of whether there is general equilibrium in Adam Smith lies at the heart of the battlefield between those who wish to see Smith as a precursor of modern economics and those who see in his writing an alternative system. In this article I will argue that it is possible...

...Guy Numa In this article, I analyze and compare the contributions of Dupuit and Walras on the natural monopoly of railroads. Both theorists argued that railroads—as opposed to inland waterways—could not be vertically unbundled, a point that previous authors who compared their views failed to point...

... at that controversy from the perspective of MIT, trying to establish why Samuelson and Solow became so involved. It is argued that Robinson was challenging propositions about linear models and their relationship to models with smooth substitution, on which they had been working, in Samuelson’s case, since the 1940s...

...Yakov Feygin This article examines the career of Yakov Kronrod, a Soviet economic theorist, in the context of the larger transformation of Soviet economics in the post-Stalin period. It argues that Kronrod’s debates with his rivals in the “Mathematical Economics” and “Moscow State University...

...Johanna Bockman In 1980 the World Bank extended its first structural adjustment loans. Scholars and activists have argued that structural adjustment policies, and the neoclassical economics that legitimates them, destroyed Keynesianism, developmentalism, and socialism. In contrast to the view...

... that defines the saving ratio in the economy. However, the road connecting Solow to the Ramsey-Cass-Koopmans model is not so straightforward. We argue that in order to understand Koopmans’s contribution, we have to go to the activity analysis literature that started before Solow 1956 and never had him...

...Pedro Garcia Duarte; Yann Giraud Economists such as Alvin Roth and Esther Duflo have recently argued that economics in the late twentieth century has evolved from (social) science to engineering. On the other hand, historians such as Mary Morgan and Michel Armatte have argued...

... of capitalism and the Jews from the 1960s to the 1980s. We take a different perspectives from Jeff Lipkes’s recent paper on the topic, published in this journal. While Lipkes examines the internal content of Friedman’s arguments and their historical rectitude, we argue that “Capitalism and the Jews” shall...

... on the universality of the index and the existence of stable patterns and led European researchers to pursue different paths of investigation. The article complicates the larger history of statistical inference in economics in two meaningful ways. First, it argues that statistical inference with probability...

... in a specific photographic way. The three populations studied by Galton were people suffering tuberculosis, Jews, and criminals. This essay argues that despite the fact that Galton aimed at mechanical objectivity, subjective judgements nevertheless appear to be a necessary part of this kind of inductive...

...” over a twelve-year period. The article wonders how could the statistical fiction be validated by the IMF economists, and to what extent they took part in Mauritanian data production. The article argues that the auditorauditee relation places less importance on the veracity and the pertinence of numbers...

...Pedro Garcia Duarte Monetary economists argue that they adopted quadratic loss functions because the latter delivered easy solutions to complex stochastic models. In that narrative, Simon (1956) and Theil (1957) are mentioned by their proofs that models with quadratic objective functions have...

...Anthony Brewer The invisible hand as it appears in the Theory of Moral Sentiments is commonly treated as an afterthought in discussions of the version in the Wealth of Nations , but it deserves attention in its own right. I will argue that there is an entirely coherent (if not entirely plausible...

...Philippe Fontaine This article provides a historical account of the developments of research into seemingly unselfish behavior between 1975 and 1993. I shall first argue that the triumph of the self-interest model in the examination of seemingly unselfish behavior can better be understood...

...Terry Peach This article questions the widely held opinion that Adam Smith confined his use of a labor theory of exchangeable value to an “early and rude state of society” in which independent laborers exchange the surplus products of their labor. It is argued that Smith did not explicitly disavow...

...Steven N. Durlauf This paper discusses the history of the use of cross-country regressions in modern growth economics. These regressions continue to be the workhorse of empirical growth analysis even though their meaning continues to be controversial. I argue that the early interpretations...

... will be considered in the light of the criticism it received from Max Weber. It will be argued, first, that while what he called “calculation in kind” fails the demands of what Weber called the “formal” rationality of economic action in conditions of complex industrial societies, it is indispensable for assessing...

...Judge Glock Histories of the Federal Reserve have argued that up through the Great Depression it adhered to a “real bills” or “Riefler Burgess” conception of monetary policy, which caused it to focus on short-term borrowing as an indicator of the stance of monetary policy. This article argues...

...Carlo Cristiano Abstract In a note appearing in the August 2024 issue of History of Political Economy ( HOPE ), Edward Nelson argues that a passage commenting on James Forder's Macroeconomics and the Phillips Curve Myth (2014) in a 2023 HOPE article by Carlo Cristiano titled “The Early Reception...