...Terry Peach Based on an appraisal of Smith's (nonutilitarian) understanding of happiness in The Theory of Moral Sentiments , this article considers the possible origin, meaning, and fate of the “real measure” qua index of social happiness/welfare. It is suggested that the original welfare usage...

... as ‘the measure of value’ indicated neither caprice, inconsistency, ambivalence, nor analytical dichotomy. It constituted, instead, additional evidence of the inherent harmony among the elements in classical doctrine. The real and monetary measures of value were equivalent. They were rationalized...

... CCC 00 18-2702/85/$1.50 Wicksell on technical change and real wages William Coleman I Will technical progress augment or depress real wages? On a theoretical level this issue over the last 170 years has been tackled by a number of different analytical...

...Terry Peach This article provides a rebuttal of Roy H. Grieve’s critique of Peach 2009, “Adam Smith and the Labor Theory of (Real) Value: A Reconsideration.” It is shown that Grieve cannot represent accurately the position he purports to criticize, that his criticisms are directed at phantom...

.... In Alternatives to Government Fiat Money , edited by James Dorn. Boston: Kluwer Academic. Green , Roy H. 1987 . Real Bills Doctrine. In New Palgrave: A Dictionary of Economics , edited by J. Eatwell, M. Milgate, and P. Newman. London: Macmillan. Hoover , Kevin. 1988 . Money, Prices and Finance...

... . Princeton : Princeton University Press . Roundtable Presentation Romantic versus Real-World Art-Making and Valuation Neil De Marchi Early on in his thoughtful reflection on Ruskin, the distinction between cultural and economic value arises, and David Throsby notes that mod- ern economic...

... that the lengths to which he went to obtain an association between the concepts of real price/real value and expended labor, ultimately to the point of abandoning his own declared choice of “real measure,” is compelling evidence of his commitment to an albeit rudimentary labor theory of exchangeable value...

... be addressed to Aurélien Saïdi, EconomiX-CNRS, Université Paris Nanterre, 200 avenue de la République, 92001 Nanterre Cedex, France; email: [email protected] . Copyright © 2019 Duke University Press 2019 Solow residual real business cycles saltwater freshwater References...

...George S. Tavlas Gold, the Real Bills Doctrine, and the Fed: Sources of Monetary Disorder, 1922–1938 . By Humphrey Thomas M. Timberlake Richard H. . Washington, DC : Cato Institute , 2019 . xix ; 201 pp. $14.95 . Copyright © 2021 Duke University Press 2021 References...

....’ In D. Laidler, Essays in money and inflation (Chicago). Laidler , D. 1981 . ‘Adam Smith as monetary economist,’ Canadian Journal of Economics 14 ( May ). Laidler , D. 1984 . ‘Misconceptions about the real bills doctrine: a comment on Sargent and Wallace.’ Journal of Political...

.... Keynes , John M. 1936 . The general theory of employment, interest and money . New York. Laidler , David 1981 . ‘Adam Smith as a monetary economist.’ Canadian Journal of Economics 14 ( May ): 185 -200. Laidler , David 1984 . ‘Misconceptions about the Real Bills doctrine...

... elsewhere. The real problem, he said, was to keep the economics faculty “together at all.” The proposal was “a careful attempt to meet problems in a subject for which the University had not been able to make much provision, and which was now attracting large bodies of students” ( Cambridge University...

...Terry Peach This article questions Adam Smith’s commitment to the notion of a beneficent Deity, or “all-perfect Being,” whose purpose is to promote the “real happiness” of humankind. It is argued that Smith conceals his true position in The Theory of Moral Sentiments by emphasizing the deceptive...

... in real income. He introduced the principle of compensation of demands: if the price of a commodity changes, the value of the total demand for other commodities remains unchanged. He relied on this principle to demonstrate that a unilateral removal of trade restrictions can cause real income to fall...

...Daniela Parisi This essay focuses on Francesco Vito (1902–1968), one of the most important Italian economists and a contributor to an extensive, thorough debate in Catholic social thinking, a debate at times accompanied and followed by exacting and solid experience in the real world, in an effort...

... approach “required a real restructuring of thought—a genuine paradigm shift” (Simon 1979, 12). That such a shift was required gives interest to this historical episode. Copyright 2012 by Duke University Press 2012 I want to thank Harro Maas, Mary Morgan, Wade Hands, Annie Cot, and two anonymous...

... journal articles in economics and in nearly half in macroeconomics. Surprisingly, its rise as an essential element in the vocabulary of economists can be dated only to the early 1970s. We trace the history of shocks in macroeconomics from Ragnar Frisch and Eugen Slutsky in the 1920s and 1930s through real...

... with the probabilistic nature of the real economic world. One can discern in these documents also that an essential part of Frisch's concept of econometrics as a science was its instrumental role in policy preparation for welfare and improvement of human conditions. Correspondence may be addressed to Olav Bjerkholt...

...) presents an innovative and consistent anti-Bullionist position. His views differ from those of the Bank of England and other anti-Bullionists; unlike them, he rejected the Real Bills Doctrine and Smith's monetary thinking in general as it applied to both convertible and inconvertible monetary arrangements...

...Claude d'Aspremont; Rodolphe Dos Santos Ferreira; Louis-André Gérard-Varet The cyclical behavior of wages and prices was a central topic in trade cycle analysis on the eve of the Second World War. Keynes and Harrod independently referred in the same year to the supposed countercyclicality of real...