nep-hpe New Economics Papers
on History and Philosophy of Economics
Issue of 2019‒12‒09
28 papers chosen by
Erik Thomson
University of Manitoba

  1. Journal of the History of Economic Thought Preprints - Eugenics and Socialist Thought in the Progressive Era: The Case of James Medbery Mackaye By Foresti, Tiziana
  2. Incorporating Conditional Morality into Economic Decisions By Masclet, David; Dickinson, David L.
  3. Journal of the History of Economic Thought Preprints - "Keynes, Mill and Say's Law: A Comment on Professor Ahiakpor's Mistaken Defence of Mill" By Grieve, Roy H
  4. American Gothic: How Chicago Economics Distorts `Consumer Welfare` in Antitrust By Mark Glick
  5. Journal of the History of Economic Thought Preprints - The Environmental Turn in Natural Resource Economics: John Krutilla and "Conservation Reconsidered" By Banzhaf, H. Spencer
  7. Journal of the History of Economic Thought Preprints - Keynes, Mill, and Say’s Law: A Comment on Roy Grieve’s Mistaken Criticisms of Mill By Ahiakpor, James C.W.
  8. 3 enfants, 1 flûte : le choix des principes de justice chez Amartya Sen By Muriel Gilardone
  9. “Journal of the History of Economic Thought Preprints - The Contribution of Robert Torrens to Ricardo’s Theory of Natural Wage” By Rosell, Olivier
  10. Keynes Between the Classics and Sraffa: on the Issue of the Numéraire By M. Magnani
  11. Journal of History of Economic Thought Preprints- Ricardo and Ricardians on the Order of Culivation By , BIDARD
  12. Journal of the History of Economic Thought Preprints - Keynes, Public Debt and the Complex of Interest Rates By Aspromourgos, Anthony
  13. Journal of the History of Economic Thought Preprints - Limits to Arbitrage and Interest Rates: A Debate Between Keynes, Hawtrey and Hicks By BRILLANT, Lucy
  14. Journal of the History of Economic Thought Preprints - Hawtrey, Austerity, and the "Treasury View," 1918-25 By mattei, clara
  15. Journal of the History of Economic Thought Preprints - Sir James Steuart on the Origins of Commercial Nations By Menudo, José M.
  16. Estimating Social Preferences and Kantian Morality in Strategic Interactions By Alger, Ingela; Weibull, Jörgen W.; Van Leeuwen, Boris
  17. Journal of the History of Economic Thought Preprints - Antonio De Viti De Marco, the principle of minimum means, and political competition By Fossati, Amedeo; Montefiori, Marcello
  18. How Behavioural Economics Relates to Psychology - Some Bibliographic Evidence By Braesemann, Fabian
  19. Journal of the History of Economic Thought Preprints - Review of ​Karl Polanyi: A Life on the Left​ By Schumacher, Reinhard
  20. Le devenir du libéralisme By Jean-Luc Gaffard
  21. The transformation of economic analysis at the Federal Reserve during the 1960s By Acosta, Juan; Cherrier, Beatrice
  22. Shortcomings of experimental economics to study human behavior: a reanalysis of Cohn et al. 2014, Nature 516, 86–89, ‘‘Business culture and dishonesty in the banking industry’’ By Hupé, Jean-Michel
  23. Dobrogea School of Economics By ARTENE, Alin
  24. What is replication? By Nosek, Brian A.; Errington, Timothy M.
  25. The ordinary business of macroeconometric modeling: working on the Fed-MIT-Penn model (1964-1974) By Cherrier, Beatrice; Backhouse, Roger
  26. A Happy Choice: Wellbeing as the Goal of Government By Frijters, Paul; Clark, Andrew E.; Krekel, Christian; Layard, Richard
  27. Produire un fait scientifique: Beveridge et le Comité international d'histoire des prix By Demade, Julien
  28. Theories of the Causes of Poverty By Brady, David

  1. By: Foresti, Tiziana
    Abstract: The article proposes an analysis of James MacKaye’s socialism and its relation to eugenics in the early years of the Progressive Era. In this respect, our work, showing as it does the pervasiveness of eugenics independently from traditional ideological boundaries, represents a further contribution to the Eugenics in the Progressive era debate inaugurated by Thomas Leonard’s Illiberal Reformers: Race, Eugenics, and American Economics in the Progressive Era (2016). At the same time, this paper contributes to the strand of literature that deals with the economic elaboration of the idea of differential capacities for happiness, of which the works of Levy and Peart represent the most recent examples. MacKaye is almost an unknown character today, but in his day he was quite influential and his peculiar brand of socialism deserves some critical attention.
    Date: 2018–03–25
  2. By: Masclet, David (University of Rennes); Dickinson, David L. (Appalachian State University)
    Abstract: We present a framework that incorporates both moral motivations and fairness considerations into utility. The main idea is that individuals face a preference trade-off between their material individual interest and their desire to follow moral norms. In our model, we assume that moral motivation is conditional and may be influenced by others' actions. Specifically, in our framework moral obligation is a combination of two main components: an autonomous component and a social influence component that captures the influence of others. Our framework is able to explain many stylized results in the literature and to improve theories of economic behavior.
    Keywords: fairness, ethical decision making, moral motivation, behavioral economics
    JEL: B3 D6 D9
    Date: 2019–11
  3. By: Grieve, Roy H
    Abstract: This note is a reply to James Ahiakpor's critical blast against my 2016 paper on the subject of Keynes, Mill and Say's Law. Professor Ahiakpor has apparently missed the point I was trying to make: his slings and arrows hit no targets.
    Date: 2018–01–03
  4. By: Mark Glick (University of Utah)
    Abstract: Since the publication of Robert Bork`s The Antitrust Paradox, lawyers, judges, and many economists have defended `Consumer welfare` (CW) as a standard for decisions about antitrust goals and enforcement priorities. This paper argues that the CW is actually an empty concept and is an inappropriate goal for antitrust. Welfare economists concede that there is no credible measurable link between price and output and human well-being. This means that the concept of CW does not legitimate limited antitrust enforcement, nor does it justify the exclusion of other antitrust goals that require more active enforcement practices. This paper contends that antitrust policy is not welfare based at all, and that if it were, antitrust policy and enforcement would differ significantly from the Chicago School vision. Without the fiction that economists can establish that in the short run lower price and higher output measurably increases welfare more than other goals, recent defenses of the CW standard resolve down to arguments based on unsupported assumptions.
    Keywords: U.S. Consumer Welfare, Goal of Antitrust Law, New Brandeis School, Chicago School of Economics.
    JEL: K21 L40 N12
  5. By: Banzhaf, H. Spencer
    Abstract: Environmentalism in the United States historically has been divided into its utilitarian and preservationist impulses, represented by Gifford Pinchot and John Muir, respectively. Pinchot advocated conservation of natural resources to be used for human purposes; Muir advocated protection from humans, for nature's own sake. In the first half of the 20th century, natural re-source economics was firmly in Pinchot's side of that schism. That position began to change as the post-war environmental movement gained momentum. In particular, John Krutilla, an economist at Resources for the Future, pushed economics to the point that it could embrace Muir's vision as well as Pinchot's. Krutilla argued that if humans preferred a preserved state to a developed one, then such preferences were every bit as "economic." Either way, there were opportunity costs and an economic choice to be made.
    Date: 2018–05–21
  6. By: Sutch, Richard
    Abstract: John Maynard Keynes’s analysis of the Great Depression has strong parallels to recent theorizing about the post-2008 Great Recession. There are also remarkable similarities between the two historical episodes: the collapse of demand for new fixed investment, the role of the zero-lower-bound liquidity trap in hampering conventional monetary policy, the multi-year period of near-zero short-term rates, and the protracted period of subnormal prosperity. A major difference between then and now that monetary authorities in the recent situation actively pursued an unconventional policy with massive purchases of long-term securities. Keynes couldn’t convince authorities of his era to pursue such a plan, but it was precisely the monetary policy he advocated for a depressed economy stuck at the zero lower bound of nominal interest rates.
    Date: 2018–03–13
  7. By: Ahiakpor, James C.W.
    Abstract: Employing different meanings of classical concepts of saving, capital, investment, and money, and incorrectly attributing the assumption of full employment of labor and a world of certainty to classical analysis, Keynes (1936) faulted Say’s Law as irrelevant to the real world. Roy Grieve (2016) ignores previous clarifications of Keynes’s misrepresentations and misunderstandings of Mill’s restatements of the law. He employs similar misrepresentations and misunderstandings of Mill’s explanations as Keynes. His model of Mill’s analysis is incapable of explaining how variations in relative prices, the value of money, and interest rates coordinate production, consumption and savings decisions in a monetary economy.
    Date: 2017–11–29
  8. By: Muriel Gilardone (CREM - Centre de recherche en économie et management - UNICAEN - Université de Caen Normandie - NU - Normandie Université - UR1 - Université de Rennes 1 - UNIV-RENNES - Université de Rennes - CNRS - Centre National de la Recherche Scientifique)
    Abstract: A travers l'exemple de trois enfants se disputant une flûte, Sen montre que nos conceptions de la justice sont plurielles et souvent contradictoires. Aucun expert ne saurait trancher sur quelle base la société doit choisir. Cette incomplétude ne doit pas empêcher un débat public éclairé.
    Keywords: Théories de la Justice,Amartya Sen,Débat public,Incomplétude,Impartialité ouverte
    Date: 2019–08
  9. By: Rosell, Olivier
    Abstract: This paper reconsiders the anteriority of Torrens’ theory of natural wage to that of Ricardo. Ricardo was influenced by Torrens’ thinking when writing the chapter on “Wages” of the Principles. For many historians of economic thought, this influence is limited to Torrens’ focus on the sociocultural aspect of necessity goods, which determine the natural price of labor. While this interpretation is consistent with that of Ricardo, we argue that the anteriority of Torrens to Ricardo more generally focuses on the method used by the latter to justify the indexation of money wages on the money price of subsistence goods. Finally, this paper shows that the tribute paid to Torrens by Ricardo paradoxically explains the misunderstanding of his theory by posterity.
    Date: 2018–01–03
  10. By: M. Magnani
    Abstract: The paper sketches a coherent history of the choice of the measure standard from Adam Smith’s Wealth of Nations to Sraffa’s Production of Commodities. As neither the Smithian labour commanded unit nor the Ricardian-Marxian labour embodied one provide a general solution to the dilemma concerning the finding of an invariable standard, the author shows the shortcomings of both methods in an analytically rigorous way. Several years later, the largely unacknowledged fourth chapter of the General Theory once again tackles the matter of measuring aggregate values adopting a net approach and introducing an ad hoc unit. Concerned by the inherent difficulties of the operation, Keynes starts from an harsh criticism towards Pigou’s notion of national dividend to end up asking himself a number of questions that makes him partially lean towards the later Sraffian approach as presented in Production of Commodities, though his stance is not fully compliant either with the premises or the aims of Piero Sraffa’s theoretical framework. In the final part, a general solution based on net labour productivity is considered.
    JEL: B12 B14 B24 B51
    Date: 2019–11
  11. By: , BIDARD
    Abstract: The Ricardian dynamics are based on the study of the order of cultivation when demand increases. Sraffa criticized Ricardo for having assumed that the incoming method is defined by a natural order and stressed that the law of succession of methods is based on a profitability criterion. Then, in the case of intensive cultivation, the question is whether the incoming method is indeed more productive than the one it replaces. Sraffa’s argument relies on the positivity of rent. However, there is a flaw in his reasoning and a failure of the Ricardian dynamics is possible. Post-Sraffian scholars have misunderstood that construction and have substituted a static approach for it. The critiques they address to Sraffa are better understood by returning to Ricardo and Sraffa's own methodology. Fifty years ago, mathematicians rediscovered Ricardo's approach independently and worked out a powerful algorithm inspired by it.
    Date: 2018–03–14
  12. By: Aspromourgos, Anthony
    Abstract: John Maynard Keynes consistently offered qualified endorsement of Abba Lerner’s “functional finance” doctrine – the qualifications particularly turning on Keynes’s attentiveness to policy management of the psychology of the debt market. This article examines Keynes’s understanding of the possible influence of public debt on interest rates, from 1930 forward. With the multiplier a mechanism whereby debt-financed public investment generates matching private saving (net of private investment) plus public saving, it becomes possible for Keynes to conclude that increasing public debt need not place upward pressure on the level of interest rates, so long as policy can successfully manage the psychology of the debt market. This particularly concerns long interest rates and hence, the term structure of rates. His theory of the term structure enables Keynes’s conviction that policy can manage and shape long rates. The conclusion considers also whether Keynes’s caution concerning public debt and interest rates retains relevance today.
    Date: 2018–04–04
  13. By: BRILLANT, Lucy
    Abstract: This paper deals with a debate between Hawtrey, Hicks and Keynes concerning the capacity of the central bank to influence the short-term and the long-term rates of interest. Both Hawtrey and Keynes considered the central bank’s ability to influence short-term rates of interest. However, they do not put the same emphasis on the study of the long-term rates of interest. According to Keynes, long-term rates are influenced by future expected short-term rates (1930, 1936), whereas for Hawtrey (1932, 1937, 1938), long-term rates are more dependent on the business cycle. Short-term rates do not have much effect on long-term rates according to Hawtrey. In 1939, Hicks enters the controversy, giving credit to both Hawtrey’s and Keynes’s theories, and also introducing limits to the operations of arbitrage. He thus presented a nuanced view.
    Date: 2018–04–11
  14. By: mattei, clara
    Abstract: R. G. Hawtrey was not a man of the backwaters. Through the parallel study of Treasury files and Hawtrey's scholarly publications, this work reveals his direct influence upon the most commanding minds of the Treasury and the Bank of England, the two institutions that, after WWI, shared primary responsibility over the British austerity agenda. After the war, Hawtrey advocated drastic budgetary and monetary rigor in the name of price stabilization. From 1922, Hawtrey admitted the need to decrease the bank rate; yet he remained an adamant supporter of the Gold Standard, insisting on its maintenance even if it required further monetary revaluation. Hawtrey's policy prescriptions stemmed directly from his economic model. The "crowding out argument," the centrality of credit and of savings, together with the operational priority of technocratic institutions, were essential theoretical underpinnings of Hawtrey's agenda: implementing the so-called "Treasury view."
    Date: 2018–07–13
  15. By: Menudo, José M.
    Abstract: This paper examines James Steuart’s explanation of the emergence of commercial nations. Unlike other Scottish thinkers of the time, Steuart argues that artifice is necessary for the rise of commercial societies. He uses the term “artificial” to refer to a devised process, one that is an alternative to the supposedly natural process arising from innate propensities. The system of trade and commerce is an “artifice” created by merchants to obtain benefits, and established by the sovereign, for his ostentation and personal prestige, until it became generalized as a commercial nation. Steuart's explanation of the emergence of commercial nations accounts for how individuals become dependent on and subordinate to the public market. Finally, this paper concludes that Steuart’s Political Œconomy promotes a science of the artificial that seeks to understand the functioning of non-natural mechanisms and to create instruments that the statesman adapts to the needs and objectives of individuals
    Date: 2018–02–09
  16. By: Alger, Ingela; Weibull, Jörgen W.; Van Leeuwen, Boris
    Abstract: Recent theoretical work suggests that a form of Kantian morality has evolutionary foundations. To investigate the relative importance of Kantian morality and social preferences, we run laboratory experiments on strategic interaction in social dilemmas. Using a structural model, we estimate social preferences and morality concerns both at the individual level and the aggregate level. We observe considerable heterogeneity in social preferences and Kantian morality. A finite mixture analysis shows that the subject pool is well described as consisting of two types. One exhibits a combination of inequity aversion and Kantian morality, while the other combines spite and Kantian morality.
    JEL: C49 C72 C9 C91 D03 D84
    Date: 2019–11
  17. By: Fossati, Amedeo; Montefiori, Marcello
    Abstract: In contrast to the common maxims for good taxation, De Viti de Marco revolutionized public finance studies by placing collective economic activity within a theoretical framework, and trying to explain concrete fiscal phenomena, such as tax incidence or public debt. The polar cases of cooperative and monopolistic states and the state-factor of production are usually considered a characteristic of such a framework. Here, we remark that De Viti’s theory of the cooperative state appears grounded only on the principles of minimum means and of political competition, and on the assumption that individual income is a proxy of individual consumption of general public services. Thus, it appears that the characteristics might be unessential to the real core of his theoretical framework. Moreover, we claim that his theoretical framework was not actually applied in his explanation of concrete fiscal phenomena. Finally, we remark that he seldom employed marginal tools in his Principî.
    Date: 2018–10–03
  18. By: Braesemann, Fabian
    Abstract: Whether behavioural economics has a fundamental influence on economics is debated by behavioural and heterodox economists as well as by methodologists and historians of economics. At the core of this debate is the question whether behavioural economics is shaped by large-scale content imports from psychology, or whether these transfers have been too selective to challenge dominant approaches in economics. This study contributes to the debate in analysing a variety of bibliographic data from the disciplinary boundary between economics and psychology. Two datasets from the boundary of behavioural economics and psychology are compared to sets of economic and psychology publications in quantifying the use of mathematics, the share of empirical contributions, the authors’ academic background, and their cross-citations via network analysis. In contrast to proposals made by some methodologists and behavioural economists, the statistical results confirm content transfers from psychology via behavioural economics only to a limited extend. The observed level of interaction provides evidence for a selective import of specific psychological findings by a small number of established investigators in behavioural economics. These findings were then intensively debated as divergences from rationality within the growing, but econ-centered community of behavioural economists.
    Date: 2018–08–22
  19. By: Schumacher, Reinhard
    Abstract: A review of Gareth Dale's "Karl Polanyi: A Life on the Left​"
    Date: 2017–11–21
  20. By: Jean-Luc Gaffard (OFCE Sciences-Po; Université Côte d'Azur; GREDEG CNRS; Institut Universitaire de France)
    Abstract: Le néo-libéralisme actuel fait figure de résurgence de l'utopie du marché autorégulé. Ses effets destructeurs, aujourd'hui comme hier, sont à l'origine d'un retour du politique oscillant entre nationalisme et autoritarisme, d'un côté, libéralisme social de l'autre. Ce défi, identifié par Polanyi en son temps, nous rappelle qu'aucune société n'est possible sans pouvoir ni obligation. Suivant les néo-libéraux, pour qui le but souhaitable reste une économie de marché mondialisée censée être débarrassée de tout pouvoir, il appartient au pouvoir politique de mettre en œuvre les réformes nécessaires pour que les individus s'adaptent aussi vite que possible à cette donne. Cette recherche de flexibilité et d'adaptabilité tranche avec un libéralisme social qui fait dépendre la viabilité des changements inhérents au capitalisme de l'existence de mécanismes de stabilisation rendant les adaptations lentes et progressives : un libéralisme qui n'exclut ni le pouvoir, ni la contrainte.
    Keywords: autoritarisme, communauté, grande transformation, laissez-faire, libéralisme social, néo-libéralisme, pouvoir, utopie du marché
    JEL: A12 B15 B25 P16
    Date: 2019–11
  21. By: Acosta, Juan; Cherrier, Beatrice
    Abstract: In this paper, we build on data on Fed officials, oral history repositories and hitherto under-researched archival sources to unpack the torturous path toward crafting an institutional and intellectual space for postwar economic analysis within the Fed. We show that growing attention to new macroeconomic research was a reaction to both mounting external criticisms against the Fed’s decision-making process and a process internal to the discipline whereby institutionalism was displaced by neoclassical theory and econometrics. We argue that the rise of the number of PhD economists working at the Fed is a symptom rather than a cause of this transformation. Key to our story are a handful of economists from the Board of Governor’s Division of Research and Statistics (DRS) who paradoxically did not always held a PhD, but envisioned their role as going beyond mere data accumulation and got involved into large-scale macroeconometric model building. We conclude that the divide between PhD and non-PhD economists may not be fully relevant to understand both the shift in the type of economics practiced at the Fed and the uses of this knowledge in the decision making-process. Equally important was the rift between different styles of economic analysis.
    Date: 2018–09–30
  22. By: Hupé, Jean-Michel
    Abstract: In the wake of financial scandals, Cohn and collaborators published a headline-grabber study in the field of behavioral economics. M.C. Villeval (2014) summarized the main message as follows, in News and Views of the Nature issue where the Cohn study was published: the “experiment shows that although bank employees behave honestly on average, their dishonesty increases when they make decisions after having been primed to think about their professional identity.” Cohn et al. thus provide evidence that “the incentives and the business culture developed in the financial sector may undermine the honesty norms of ordinary employees.” This study may have important consequences for policy, since, Villeval continues, “it is crucial to ensure a business culture of honesty in this industry to restore trust in it.” Villeval also argues that “from a scientific perspective, this study […] supports the economic theory of social identity […], links this theory with the economic analysis of lying behavior [… and] shows how behavioural economists can contribute to a broader reflection in science about how people manage their 'multiple selves' ”. Here I show that the use of flawed statistics methods, yet employed routinely in so-called “evidence-based” science, led the authors to distort the “evidence”. I am also using this data-set as an interesting example to explore how we can use modeling and simulations to provide a fair account of the information and uncertainty conveyed by the data, based on Confidence Intervals. I provide the R-code. Based on this paper, I question the contribution of behavioral economics to the understanding of human behavior and conclude with considerations on honesty and science.
    Date: 2018–03–20
  23. By: ARTENE, Alin
    Abstract: At present, we have all the necessary elements to be able to claim that "Dobrogea Economics School in Constanta" really exists in the Romanian and European academic landscape. Among these elements, we take into account those related to tradition, university education programs, valuable teaching staff, material basis, results / scientific visibility, etc. This article provides an approach to the establishment and further development of the Faculty of Economics at "Ovidius" University of Constanta. The continuous development of the collaboration relations with other universities - Romanian and foreign -, with governmental or private institutions, with the business environment, etc. confirms that today there is a Dobrogean School of Economics and, moreover, it has all the chances to last forever.
    Date: 2018–05–15
  24. By: Nosek, Brian A. (University of Virginia); Errington, Timothy M. (Center for Open Science)
    Abstract: Replications are inevitably different from the original studies. How do we decide whether something is a replication? The answer shifts the conception of replication from a boring, uncreative, housekeeping activity to an exciting, generative, vital contributor to research progress.
    Date: 2019–09–10
  25. By: Cherrier, Beatrice; Backhouse, Roger
    Abstract: The FMP model exemplifies the Keynesian models later criticized by Lucas, Sargent and others as conceptually flawed. For economists in the 1960s such models were “big science”, posing organizational as well as theoretical and empirical problems. It was part of an even larger industry in which the messiness for which such models were later criticized was endorsed as providing enabling modelers to be guided by data and as offering the flexibility needed to undertake policy analysis and to analyze the consequences of events. Practices that critics considered fatal weaknesses, such as intercept adjustments or fudging, were what clients were what clients paid for as the macroeconometric modeling industry went private.
    Date: 2018–10–15
  26. By: Frijters, Paul (London School of Economics); Clark, Andrew E. (Paris School of Economics); Krekel, Christian (London School of Economics); Layard, Richard (London School of Economics)
    Abstract: In this article, we lay out the basic case for wellbeing as the goal of government. We briefly review the history of this idea, which goes back to the ancient Greeks and was the acknowledged ideal of the Enlightenment. We then discuss possible measures on which a wellbeing orientation could be based, emphasising the importance of acknowledging the political agency of citizens and thus their own evaluations of their life. We then turn to practicalities and consequences: how would one actually set up wellbeing-oriented decision-making and what difference should we expect from current practice? We end by discussing the current barriers to the adoption of wellbeing as the goal of government, both in terms of what we need to know more about and where the ideological barriers lay.
    Keywords: subjective wellbeing, life satisfaction, public policy, political economy, social welfare
    JEL: I3 A10 H10 H83
    Date: 2019–10
  27. By: Demade, Julien
    Abstract: This book tells the story of a largely forgotten enterprise: that of the International Scientific Committee on Price History. If this endeavour can nevertheless still be of interest today, it is not only because failures offer insights into social dynamics as well as successes do ; nor is it solely because we find, gathered around this failed enquiry, a slew of very famous names, and names indeed which one would not expect to stumble upon in this context – there is Beveridge and Kautsky, Bloch and Malinowski. First and foremost, it is because the object of this enquiry offers a rare opportunity to bridge the divide between national scientific traditions as well as between disciplines – such as history and economy, or epistemology and the sociology of scientific knowledge. Thus, the initially narrow scope of this study opens up to a vast field of enquiry, as the object of this study shifts to determining how a particular class of objects – those deemed scientific – are produced, and how epistemological, theoretical and institutional issues interact in this process. Indeed, the conversion of past prices (as they appear in the archives) into historical prices taken as scientific facts, raises diverse and crucial questions : on the respective standing of social and natural sciences, about monetarism, or on the transition from the academic field of the Humboldtian scholar to that of big science. Viewed through the prism of this particular case, these issues will appear in a new light for the simple reason that, in the case at hand, fields of enquiry which are ordinarily examined independently are found to be tightly interrelated.
    Keywords: history of prices;William Beveridge;international scientifique committee on price history;Thorold Rogers; Georges d'Avenel;
    JEL: B15 B16 B23 B25 B31 N01
    Date: 2018
  28. By: Brady, David
    Abstract: There has been a lack of debate between and frameworks for theories of the causes of poverty. This essay proposes that most theories of poverty can be productively categorized into three broader families of theories: behavioral, structural, and political. Behavioral theories concentrate on individual behaviors as driven by incentives and culture. Structural theories emphasize the demographic and labor market context, which causes both behavior and poverty. Political theories contend that power and institutions cause policy, which causes poverty, and moderates the relationship between behavior and poverty. I review each theory’s arguments, contributions and challenges. Further, I explain how to integrate, classify studies into, and distinguish between theories. Ultimately, I argue that poverty research would benefit from more explicit theory and theoretical debate, as well as greater interdisciplinarity and integration between studies of the U.S., rich democracies, and developing countries.
    Date: 2018–10–15

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