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role of economic theory

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Journal Article
History of Political Economy (1984) 16 (2): 233–253.
Published: 01 June 1984
... and theory of economic organization: the role of the firm reconsidered Paul J. McNulty I The defining characteristic of the market economy is its organization of production and distribution through the pricing system. In the network of (more or less...
Journal Article
History of Political Economy (2015) 47 (suppl_1): 174–198.
Published: 01 December 2015
... and greater demand for responsive government, voluntary exchange theory emerged in the 1880s as a competitor to models that represented government as a monolithic decision maker. That voluntary exchange has faded out of the public finance literature belies the role it served launching the public goods debate...
Journal Article
History of Political Economy (2023) 55 (3): 523–547.
Published: 01 June 2023
...Lucas Casonato Abstract This article investigates how Israel Kirzner approached mainstream economists with his view of the Austrian theory. It discusses the role of narrative elements in Kirzner's theory in his use of stories to illuminate ideas in entrepreneurship, the theory of the firm...
Journal Article
History of Political Economy (2016) 48 (3): 489–514.
Published: 01 September 2016
... tradition of alternative views of economic theory that were based on the key role of money, banking, and credit. We particularly stress the very consistency of his monetary thought, mostly focusing on the links between money and credit, as Schumpeter claimed the need for a “credit theory of money.” We base...
Journal Article
History of Political Economy (2016) 48 (1): 151–180.
Published: 01 March 2016
... focus on equilibrium end states, obscures this vital role. It is for this reason that Hayek asks in “Economics and Knowledge” (and later, and more explicitly, in “The Meaning of Competition”) that we “restore to its rightful place” a theory of market process. “Restore” is the right word...
Journal Article
History of Political Economy (2015) 47 (suppl_1): 147–173.
Published: 01 December 2015
....” Journal of Law and Economics 7 ( October ): 81 – 83 . ———. 1967a . “Indeterminacy of Governmental Role in Public-Good Theory.” Papers on Non-market Decision Making 3 ( 1 ): 47 . ———. 1967b . “Pitfalls in the Analysis of Public Goods.” Journal of Law and Economics 10 ( October...
Journal Article
History of Political Economy (2015) 47 (suppl_1): 49–76.
Published: 01 December 2015
... than it was a technocratic theory and practice of how best to obtain them—a progressive method of economic governance. Though American economics cast its vocational lot with the regulatory state, left and right progressive economists offered different visions of the state's role in economic life...
Journal Article
History of Political Economy (2010) 42 (1): 21–73.
Published: 01 March 2010
... on the theory and methods of econometrics given by Frisch at the Poincaré Institute at the University of Paris in 1933, as well as extensive lecture notes from Yale University in 1930. These largely unknown documents elaborate on Frisch's scientific views, how he aimed at modeling economics on physics...
Journal Article
History of Political Economy (2015) 47 (4): 547–575.
Published: 01 December 2015
...Marina Bianchi; Eleonora Sanfilippo This article analyzes an early and relatively little known debate on the role of social interdependencies in consumption and their implications for economic theory. The debate began in the pages of the Economic Journal when, in 1892, Alfred Marshall's student...
Journal Article
History of Political Economy (2022) 54 (S1): 221–257.
Published: 01 December 2022
...Daniel Hirschman Abstract Studies of the political power of economic knowledge have tended to foreground the role of causal claims in the form of grand theories or more narrow findings produced by experimental methods. In contrast, scholars have paid relatively little attention to the role...
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Journal Article
History of Political Economy (2012) 44 (1): 113–155.
Published: 01 March 2012
... States. An experiment by the psychologist Louis Leon Thurstone was then the starting point for some clarifications about the role of experimental economics for the new theory of the consumer. The aim of this article is to throw light on the ins and outs of this issue of the ordinalist revolution...
Journal Article
History of Political Economy (2018) 50 (S1): 41–58.
Published: 01 December 2018
...Stephen Meardon Since its founding, especially before the late nineteenth-century closing of its frontier, the United States has been a laboratory for the creation and application of theories of economic development. A salient tradition in American economic thought has held, first, that Americans...
Journal Article
History of Political Economy (2022) 54 (5): 879–909.
Published: 01 October 2022
...Giandomenica Becchio Abstract During the interwar period, Austrian school economists played a fundamental role in establishing marginalism as a central principle of economics. In those years, the role of Mises in Vienna was especially pivotal in building up economics as a science based...
Journal Article
History of Political Economy (2010) 42 (3): 495–519.
Published: 01 September 2010
... the theory's coherence; the relevant issue is that such a price theory would contain its own principle of intelligibility. Second, we will point out the role of this theory in preventing economic compulsion. This approach could help us to draw upon the moral and economic responsibility of human beings living...
Journal Article
History of Political Economy (2023) 55 (5): 799–830.
Published: 01 October 2023
... analysis of the role of families and women in well-being and progress fully as the fruit of a long process of maturation resulting in the theory offered by Principles ; moreover, it highlights the relevance of Marshall's early economic work in understanding this theory. The first part of the article sheds...
Journal Article
History of Political Economy (2017) 49 (4): 537–574.
Published: 01 December 2017
... as akin to investment in a form of capital had never become the basis of a substantial body of economic theory, nor was it central to economists’ thinking about the role of labor in production and distribution. Holden and Biddle / Human Capital Theory and Education Policy 539 capital idea...
Journal Article
History of Political Economy (2019) 51 (4): 703–729.
Published: 01 August 2019
... Europe and Latin America, where it was read as a foundational text of political economy similar to Adam Smith’s Wealth of Nations . The aim of this article is to contribute to the analysis of the mutual implication between the economic and the political order of society by revisiting Genovesi’s theory...
Journal Article
History of Political Economy (2020) 52 (S1): 85–111.
Published: 01 December 2020
... Terman. We show that engineers drew upon economic theories of decision and allocation to improve practical industrial management decisions. Reciprocally, economists found in engineering the tools that they needed to rethink production and growth theory (including linear programming, optimal control...
Journal Article
History of Political Economy (2016) 48 (4): 657–679.
Published: 01 December 2016
... principles and concepts, his familiarity with market economics, and his views on the role of theory in ethnographic economics. Correspondence may be addressed to Scott Cook, University of Connecticut, at hscook@grandecom.net ; and to Michael W. Young, Australian National University, at michael.young...
Journal Article
History of Political Economy (2018) 50 (S1): 231–248.
Published: 01 December 2018
... analysis, respectively. Tinbergen, Chenery, and Adelman shared a common inductive methodology, which might rightly be called “measurement without theory,” in the sense that there was no economic theory that could help them in organizing the available messy and often unreliable data. Chenery saw a role...