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History of Political Economy (2003) 35 (3): 575–577.
Published: 01 September 2003
... The MoralConditions of Economic Efﬁciency. by Walter J. Schultz. Cambridge: Cambridge University Press, 2001. 144 pp. $50.00. In his preface Schultz writes, “I hope this book contributes to a better understanding of the interconnection between morality and economic behavior” (xi). I believe he achieves his...
History of Political Economy (2020) 52 (S1): 221–244.
Published: 01 December 2020
... in the face of a changing environment. Schweppe’s group envisioned bringing consumers of power into the control system by constantly feeding them signals in the form of prices. The MIT team discovered through the contact between economists and engineers that the calculation for determining efficient prices...
History of Political Economy (2014) 46 (2): 177–210.
Published: 01 June 2014
... properties underlying the natural selection of media of exchange, enhancing the microeconomic efficiency in performing monetary functions and the macroeconomic effectiveness of maintaining monetary stability. After inquiring about the puzzle of metallism, this article investigates the development...
History of Political Economy (2014) 46 (2): 307–331.
Published: 01 June 2014
... and liberty, economic efficiency, commercial interests, corruptive effects on individual and public morality, and political necessity. Distribution of limited resources is discussed in terms of a zero-sum game. In one of the key moments of the treatise, Guicciardini denies that preferences toward the best...
History of Political Economy (2013) 45 (2): 223–254.
Published: 01 June 2013
...Alain Marciano This article describes the intellectual trajectory James Buchanan followed from the early 1950s, when he started to work on ``spillover effects,'' to the mid-1960s, when he had completed a consistent explanation of the efficiency of market mechanisms and private arrangements...
History of Political Economy (2021) 53 (4): 697–720.
Published: 01 August 2021
... about. Connecting this analytical issue with his concept of republican justice, he comes to the conclusion that a market economy characterized by unlimited competition will never lead to a socially desirable solution: such an order is neither efficient, nor natural or spontaneous and political economy...
History of Political Economy (2016) 48 (suppl_1): 198–225.
Published: 01 December 2016
... is with how economics leveraged psychology to grow a regulatory system when individual units pursuing their own interests did not promote the interests of society. This dilemma was one of a few stimuli generating a new focal point for rationality, that of efficient implementation. More recently, economists...
History of Political Economy (2019) 51 (S1): 7–29.
Published: 01 December 2019
.... The second, technical norms, was a long-term project initiated by the socialist state to design norms based on workers’ physical capacity in order to extract the greatest amount of effort most efficiently. In both cases, wages were set according to the level of exertion expended by the worker, not by output...
History of Political Economy (2020) 52 (1): 135–170.
Published: 01 February 2020
... largely disappeared from the literature following Pigou’s 1920 treatment, only to reemerge, in very different form, in the 1950s. Such concern as there was with externalities was largely technical—as an impediment to the attainment of an efficient equilibrium—rather than with externalities as important...
History of Political Economy (2020) 52 (4): 621–652.
Published: 01 August 2020
...Jeff Biddle The CES production function was introduced to economics in the 1961 paper “Capital-Labor Substitution and Economic Efficiency,” by Kenneth Arrow, Hollis Chenery, Bagicha Minhas, and Robert Solow. The paper had an immediate and substantial impact on economic research, and the CES...
History of Political Economy (2020) 52 (5): 863–894.
Published: 01 October 2020
... generated a debate on the choice criteria of growth programs, opposing the productive efficiency typical of these models to the utilitarian approach supported by Malinvaud and Koopmans. The Vatican Conference of 1963, where Koopmans presented a first version of his 1965 model, was embedded in this debate...
History of Political Economy (2019) 51 (5): 901–934.
Published: 01 October 2019
.... Overall, Say’s analysis of free trade sheds greater light on his conception of the role of government in a market economy. It illustrates under what conditions the government should intervene in order to achieve both economic efficiency and social justice. Correspondence may be addressed to Guy Numa...
History of Political Economy (2009) 41 (3): 491–517.
Published: 01 September 2009
... as constitutional economics, who stressed the role of efficient institutions for the promotion of economic development and favored sound public finance as a basis for a strong currency and a prerequisite of growth. The paper puts Soutsos' economic policy recommendations against his theoretical formation...
History of Political Economy 37–73.
Published: 10 November 2021
... rules governing open-outcry double auctions, converged endogenously, in three to four periods of repeat interaction, to an efficient outcome. These observations contradicted the widely believed, thought, and taught necessity for perfect information, large numbers, and price-taking behavior. However...
History of Political Economy (2009) 41 (Suppl_1): 200–220.
Published: 01 December 2009
... and also that when TFP growth is rapid, improvements in efficiency are usually an important complement to technological progress. Nevertheless, growth accounting was important in undermining the “capital fundamentalism” of the 1950s and has been central to putting the contribution of technological progress...
History of Political Economy (2009) 41 (1): 109–141.
Published: 01 March 2009
... the social good and rejecting the individualism of (classical) liberalism; that the progressives venerated social efficiency; that the progressives believed in the epistemic and moral authority of science, a belief that comprised their view that biology could explain and control human inheritance...
History of Political Economy (1996) 28 (4): 583–606.
Published: 01 November 1996
... of Economic Thought Society of Australia Conference in July 1993 and the Twenty-fifth Conference of the British History of Economic Thought Society in September 1993. Copyright © 1996 by Duke University Press 1996 References Akerlof , G. A. , and J. L. Yellen 1986 . Efficiency Wage Models...
History of Political Economy (1984) 16 (3): 381–404.
Published: 01 September 1984
... to develop his latent potential incites activities which are the source of efficiency, innovation, and organizational change. The effort to engage in these activities produces new wants. This rather than Parsons’ Protestant Ethic seems to fit the theme of Marshall’s wants and activities. Marshall...
History of Political Economy (1988) 20 (4): 669–672.
Published: 01 November 1988
... effect controversy, pC-Iassant Vaughn (1986) give a valuable summary of the background issues. However, they omit one central element. This is the distinction between the marginal efficiency of investment and the marginal efficiency of capital which neither Keynes in The general theory, nor...
History of Political Economy (2015) 47 (suppl_1): 49–76.
Published: 01 December 2015
... the political fray, admin- istering progress for the good of all. Progressive economists, who were the architects and framers of the fourth branch, defined economic progress variously, emphasizing the goals of justice, efficiency, national unity, and conflict reduction in different measures...