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on History and Philosophy of Economics |
| By: | Prof. Purusottam Nayak (North-Eastern Hill University) |
| Abstract: | The writings of the Nobel Laureate Amartya Sen caused a huge stir when it challenged the popular view that famine was due to shortage of food. Though this view of Professor Sen was based on analysis of the Bengal famine that occurred in the year 1943, he subsequently analysed the contemporary famine of Asia and Africa and generalized his conclusion. Thus the criticism of the popular view on famine and emergence of the ‘Entitlement Approach’ encouraged various scholars to put forward their views in support of and against this approach. The present paper in this regard is a humble attempt to reach a clear understanding of what the entitlement approach really claims and how it is misunderstood by various scholars. |
| Keywords: | Entitlement Approach to Famine |
| JEL: | A |
| Date: | 2005–09–26 |
| URL: | http://d.repec.org/n?u=RePEc:wpa:wuwpgt:0509019&r=hpe |
| By: | Oldrich Kyn (Boston University) |
| Abstract: | This paper was presented at the Belgrade conference for one hundred years anniversary of 'Das Kapital'. Marx himself said very little about the concrete organization of a socialist economy. His general remarks about socialism were 'elaborated' by his followers by inference from Marx's criticism of capitalism and by inclusion of principles that did originate with other socialist or 'Marxist' thinkers. This explains why certain views about the organization of the socialist economy that are today presented as 'Marxian' may be in direct contradiction to some of Marx's own views. Marx could not disengage himself completely from his own historical determination. It is quite obvious that to a large extent he was influenced by the topics and analytical tools of his theoretical forerunners and contemporaries. But the evolution of economic theory continued after Marx. New problems appeared and new methods were developed, especially mathematical methods, which Marx could not have used in his time. Marx believed that market must be replaced by a rational planned control of the economy because he saw the market mechanism as functioning purely on ex post basis and that the lack of ex ante coordination of production decisions leads necessarily to the spontaneous imbalances and cyclical fluctuations in market economies. But market does not function solely in an ex post manner. No producer works completely 'in the dark', he always has some information, albeit incomplete, that allows him to anticipate demand and thus determine what is to be produced. The quality of the coordination done by the market depends on how good is the anticipation of future demand. In the XXth century forecasting methods have undergone fast development. Methods of demand analysis make it possible to predict changes in demand for individual types of commodities. Those and many other new developments greatly anhance the available information and improve the ex ante decision-making of firms and thus limit necessary corrections which the market must make ex post. |
| Keywords: | Marx, Market Economy, Socialism, Central Planning, Alienation, |
| JEL: | B |
| Date: | 2005–09–26 |
| URL: | http://d.repec.org/n?u=RePEc:wpa:wuwpmh:0509005&r=hpe |
| By: | Huisman, D.; Kroon, L.G.; Lentink, R.M.; Vromans, M.J.C.M. (Erasmus Research Institute of Management (ERIM), RSM Erasmus University) |
| Abstract: | In this paper, we give an overview of state-of-the-art Operations Research models and techniques used in passenger railway transportation. For each planning phase (strategic, tactical and operational), we describe the planning problems arising there and discuss some models and algorithms to solve them. We do not only consider classical, well-known topics such as timetabling, rolling stock scheduling and crew scheduling, but we also discuss some recently developed topics as shunting and reliability of timetables. Finally, we focus on several practical aspects for each of these problems at the largest Dutch railway operator, NS Reizigers. |
| Keywords: | operations research;passenger railway transportation;planning; |
| Date: | 2005–04–28 |
| URL: | http://d.repec.org/n?u=RePEc:dgr:eureri:30002129&r=hpe |
| By: | Werner Güth |
| Abstract: | In close interaction, group allocations are often fair due to our desire to be treated fairly and to act fairly. When this desire conflicts with other strong motivations a typical reaction is to trade off fairness against these other concerns. Inequ(al)ity aversion allows capturing such trade off considerations in various ways (Bolton, 1991, Bolton and Ockenfels, 1998 and 2000, Fehr and Schmidt, 1999, are examples). Such trade off analysis measures how far one deviates from fairness what requires a unique fairness benchmark. More often than not there exist, however, multiple standards. In our view, this should not discourage using inequ(al)ity aversion altogether but limit it to where its prerequisites are granted. |
| Date: | 2005–09 |
| URL: | http://d.repec.org/n?u=RePEc:esi:discus:2005-24&r=hpe |
| By: | Bruno S. Frey |
| Abstract: | The basic distinction made in this volume compares “economic value”, expressed in monetary terms, to “cultural value”, reflecting cultural, aesthetic and artistic significance. This paper makes a different distinction which is rarely made explicit but which is of central importance to the decision process in cultural policy. On the one hand, “value” is attached to the economic effects of cultural activities: When cultural values are created, economic activity is bolstered. The increase of commercial actitivities induced is measured by the so-called “impact effect”. On the other hand, the value of culture is reflected in the increased utility going to consumers and non-consumers of a particular cultural activity. This type of value is measured by “willingness to pay studies”. I argue that these two values dominate cultural policy but they capture totally different aspects and are proferred by different kinds of communities. |
| Date: | 2005–07 |
| URL: | http://d.repec.org/n?u=RePEc:cra:wpaper:2005-24&r=hpe |
| By: | Charles Goodhart |
| Abstract: | No abstract available. |
| Date: | 2005–10 |
| URL: | http://d.repec.org/n?u=RePEc:fmg:fmgdps:dp546&r=hpe |
| By: | Cowan,Robin (MERIT) |
| Abstract: | The simplest rationale for the existence of a publicly funded university is that it provides some form of public good. If all the outputs of a university were privately owned, and privately appropriable, there would be no need for public funding. Either firms would fund the research and training which could be internalized by themselves, or students could fund the teaching through higher future earnings. Consequently, one way to pose the issue of the future role of universities is to ask what public goods they can provide that cannot be provided in other ways..... |
| Keywords: | Economics of Technology; |
| Date: | 2005 |
| URL: | http://d.repec.org/n?u=RePEc:dgr:umamer:2005027&r=hpe |
| By: | pina ciani |
| Abstract: | Sottolineando l’importanza della struttura sociale e politico- istituzionale dell’economia ai fini della crescita economica, la formulazione di un adeguato modello interpretativo, nello studio dei processi di industrializzazione, richiede di interpretare il rapporto tra economia, società e sistema politico-istituzionale in termini di interdipendenza e influenza reciproca nella necessità di un approccio complesso, multidimensionale e non monocausale al processo di sviluppo, nell’ambito del quale anche il capitale sociale deve essere considerato uno strumento al fine dell’elaborazione di politiche in grado di promuovere la crescita economica. Il capitale sociale, infatti, è dato da quegli aspetti di una società che, sebbene difficili da misurare e da inserire in modelli formali, sembrano avere un ruolo rilevante nel definire le caratteristiche dello sviluppo economico influenzando il rendimento dell’economia. Obiettivo di questo lavoro è fornire un’introduzione al concetto di capitale sociale cercando di mettere in evidenza, attraverso una rassegna della letteratura sia teorica che empirica, la sua rilevanza ai fini dello sviluppo economico. |
| Keywords: | social capital, capitale sociale, sviluppo economico |
| JEL: | P Q Z |
| Date: | 2005–09–26 |
| URL: | http://d.repec.org/n?u=RePEc:wpa:wuwpot:0509019&r=hpe |
| By: | Alain Béraud (THÉMA - Théorie économique, modélisation et Applications - http://www.u-cergy.fr/rubrique775.html - CNRS : UMR7536 - Université de Cergy Pontoise) |
| Abstract: | Cet article montre comment Walras tire de son analyse de l'équilibre économique et de son théorème de satisfaction maximum les raisons de l'intervention de l'état dans une économie de marché |
| Keywords: | Walras; optimum; monopoles naturels; services publics |
| Date: | 2005–09–29 |
| URL: | http://d.repec.org/n?u=RePEc:hal:papers:halshs-00004766_v1&r=hpe |
| By: | Ulrich Bindseil (DG Human Resources, Budget and Organisation, European Central Bank) |
| Abstract: | Before 1914, there was little doubt that central bank policy meant first of all control of short term interest rates. This changed dramatically in the early 1920s with the birth of “reserve position doctrine” (RPD) in the US, according to which a central bank should, via open market operation, steer some reserve concept, which would impact via the money multiplier on monetary aggregates and ultimate goals. While the Fed returned to an unambiguous steering of short term interest rates only in the 1990s, for example the Bank of England never adopted RPD. This paper explains the astonishing rise and fall of RPD. The endurance of RPD is explained by a symbiosis of central bankers who may have partially sympathised with RPD since it masked their responsibility for short term interest rates, and academics who were too eager to simplify away some key features of money markets and central bank operations. |
| Keywords: | operational target of monetary policy, monetary policy instruments, monetary policy implementation, instruments’ choice problem |
| JEL: | E43 E52 B22 |
| Date: | 2004–06 |
| URL: | http://d.repec.org/n?u=RePEc:ecb:ecbwps:20040372&r=hpe |
| By: | Yi Wen |
| Abstract: | The extremely weak propagation mechanisms of real business cycle (RBC) models are well acknowledged, and some effort has been devoted to improving the models on this dimension. This paper builds on these efforts to provide an explicit explanation of why various existing RBC models do not replicate real world business cycles, and discusses modifications necessary to bring real business cycle theory into closer conformity with the data. |
| Keywords: | Business cycles |
| Date: | 2005 |
| URL: | http://d.repec.org/n?u=RePEc:fip:fedlwp:2005-039&r=hpe |
| By: | Philippe JEANNIN (LEREPS-GRES) |
| Abstract: | Research policy in the Humanities and Social Sciences (HSS) is difficult to implement because of the very characteristics of these disciplines (no image, no technology, no patent) and because of requisite public intervention. It is demonstrated that, in each discipline, a market for academic research exists. The necessity to set up “hybrid forums” including both scientists and profanes is underlined. This kind of research policy generates information asymmetries which call for a relevant evaluation. The case of scientific journals as viewed by French scientists is analysed. Solid grounds to carry out research evaluation on a national level are obtained, a required step before reaching a European level. |
| Keywords: | Research, Social sciences, Humanities, Policy, Evaluation, Journals |
| JEL: | A |
| Date: | 2005 |
| URL: | http://d.repec.org/n?u=RePEc:grs:wpegrs:2005-20&r=hpe |