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Journal Article
History of Political Economy (2023) 55 (3): 577–608.
Published: 01 June 2023
...Laetitia Lenel Abstract This article explores the history of scenario drafting at the International Monetary Fund (IMF) in the 1970s and 1980s. Introduced in the late 1970s, scenarios were used to compare, assess, and illustrate the assumed effects of different policy actions or inactions...
FIGURES
Journal Article
History of Political Economy (2022) 54 (2): 329–350.
Published: 01 April 2022
... product or output of goods produced for the market.” Taylor never defined Say's Law as “the impossibility of demand deficiency as a cause of recession.” Like Say, Taylor acknowledged that general demand deficiency could cause economic crises. In such scenarios, public expenditures could have expansionary...
Journal Article
History of Political Economy (2023) 55 (3): 523–547.
Published: 01 June 2023
..., (ii) highlight causal mechanisms in economic theory, (iii) make some generalizations but without perfect predictions with economics, (iv) explore different scenarios from contingent events in the economy, and (v) illustrate economic ideas with fictional but plausible cases. The article concludes...
FIGURES
Journal Article
History of Political Economy (2006) 38 (1): 1–14.
Published: 01 March 2006
... everywhere else had to adjust passively to agricultureʼs. It had been
suspected that maybe around 1814 Ricardo might even have written out a
manuscript that cogently deduced such a scenario. But by 1960, Ricardoʼs
assiduous editor Piero Sraffa had not located such an item; and in the forty-
six years...
Journal Article
History of Political Economy (2002) 34 (2): 479–498.
Published: 01 June 2002
... of a progressive rise in the prices of Swedish forestry staples.
Heckscher’s festschrift essay, after carefully presenting a new approach
to the theory of comparative costs, ended in a refutation of Wicksell’s
scenario. The festschrift was published early in 1920 (although its offi-
cial publication date...
Journal Article
History of Political Economy (2023) 55 (3): 395–421.
Published: 01 June 2023
... to create a fictional economic world, and then, second, there happens “narrative arguing” with the model (building on Morgan 2001 , 2012 ), which she portrays as the conceptual framing of the social interactions involved. Finally, “the fictional characters interacting in the model's scenarios may...
Journal Article
History of Political Economy (2021) 53 (S1): 81–110.
Published: 01 December 2021
... analysis. To prepare consistent scenarios and programs, IMF economists seek to fill in standard tables with comprehensive sets of estimates and forecasts, provide timely information, and ensure the coherence of scenarios with the economic views of the IMF. Yet IMF approaches to macroeconomic quantification...
Journal Article
History of Political Economy (2013) 45 (3): 475–504.
Published: 01 September 2013
.... The latter account is comprised of two analyti-
cally related narratives, one concerning the ability of capitalists to appro-
priate surplus value in the absence of any direct control of the production
process (a scenario corresponding primarily to certain commercial trans-
actions prior to the era...
Journal Article
History of Political Economy (2022) 54 (5): 991–993.
Published: 01 October 2022
... between men and women. This second point brings up a more methodological issue: in constructing her narrative, the author tends to apply the standard economic scenario as well as to adopt the category of gender, as it is used today, to the contributions of the women economists she deals...
Journal Article
History of Political Economy (2019) 51 (5): 935–955.
Published: 01 October 2019
... Torrens and Ricardo reached broadly the same conclusions as concerns the long-run prospects of British agriculture in a free trade scenario, they made use of two different theoretical models. Torrens debunked the views of food protectionists by generalizing to the case of industrial countries the same...
Journal Article
History of Political Economy (2014) 46 (suppl_1): 272–294.
Published: 01 December 2014
... an essential part of MIT’s self-assessment
after the war.19
Modeling Scenarios
Early in 1947 Samuelson wrote to Schultz that one of his reasons for stay-
ing at MIT was his “feeling” that an academic position on the East Coast
was not “limited by the University of Chicago form of professional con...
Journal Article
History of Political Economy (1982) 14 (2): 251–255.
Published: 01 June 1982
... work that I wish to explore here.
Michaely 1982 ascribes primacy to the relative PPP theory in
Cassel’s framework. The absolute version arose at all, ‘according to
Michaely, only because of the circumstances under which Cassel de-
veloped his PPP theory. In this scenario, the impetus...
Journal Article
History of Political Economy (2017) 49 (2): 315–345.
Published: 01 June 2017
...
damage. The most extensive description and defense of CV was formu-
lated by Mitchell and Carson (1989). For what follows, their most import-
ant recommendations concern the credibility of the scenario for the envi-
ronmental amenity offered in the questionnaire, the survey procedures
followed...
Journal Article
History of Political Economy (2015) 47 (1): 151–184.
Published: 01 March 2015
... corn markets and a
severe depression of their agricultural sectors. Finally, Ricardo main-
tained that in a free trade scenario, the number of agricultural countries
trading with Great Britain would increase substantially, and, accordingly,
the risk for Great Britain that all of them would...
Journal Article
History of Political Economy (1990) 22 (2): 281–294.
Published: 01 June 1990
... predictions, so that we like to display forecasts of complex sys-
tems in the form of scenarios which vary with the magnitude of the
inserted shocks. Nevertheless any such scenario must be based on a set
of fixed parameters, either of structural or at least of reduced-form
equations (or some...
Journal Article
History of Political Economy (1995) 27 (2): 345–364.
Published: 01 June 1995
... investments would coincide with
the intention of the consumers as to the parts of their incomes which they
want to consume at the various dates” ([ 19331 1939, 1434).
Some of Hayek’s contemporary critics were aware that underlying the
“saving scenario” in “Prices and Production” were very strong...
Journal Article
History of Political Economy (2015) 47 (2): 335–341.
Published: 01 June 2015
... by force or fraud, then it is just a variant of the previous alternative. The
option appears in all its singularity when it is completely voluntary: when
both parties reach an agreement, each looking at their own interests, but in
full exercise of their sovereign wills. In this scenario...
Journal Article
History of Political Economy (1989) 21 (3): 537–547.
Published: 01 September 1989
... as a fact,” as he claims, that such
a conversation did not occur, or if it did, that Keynes did not give it “se-
rious consideration .”
On this point Patinkin’s argument rests on an imaginary scenario in
which the events described by the oral history could not have occurred.
One could construct...
Journal Article
History of Political Economy (1990) 22 (4): 747–748.
Published: 01 November 1990
... up out of nowhere but was tragically ignored; and nothing else
analytically interesting happened until Walras-who avoided Cournot’s un-
happy fate only by proselytizing the mathematical method around the globe.
The problem with this conventional scenario is that it ignores an entire analyt...
Journal Article
History of Political Economy (2005) 37 (Suppl_1): 71–90.
Published: 01 December 2005
... to prefer
what is least pernicious to society.
—David Hume, “Of Refinement in the Arts” (1752)
We may think of a problem in at least two ways. We may ask what the
best-possible scenario is, or we may ask what the worst...
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