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on History and Philosophy of Economics |
| By: | Matthias Aistleitner (Institute for Comprehensive Analysis of the Economy, Johannes Kepler University Linz, Austria); Jakob Kapeller (Institute for Socio-Economics, University of Duisburg-Essen, Germany; Institute for Comprehensive Analysis of the Economy, Johannes Kepler University Linz, Austria); Dominik Kronberger (Institute for Comprehensive Analysis of the Economy, Johannes Kepler University Linz, Austria) |
| Abstract: | In this paper, we present results from of a large-scale replication of Hodgson and Rothman's (1999) seminal analysis of the institutional and geographical concentration of authors publishing in top economic journals. We analyze bibliometric data of more than 49.000 articles published in a set of 30 highly influential economic journals between 1990 and 2018. Based on a random sample of 3.253 authors, we further analyze the PhD-granting institutions of the authors under study to better scrutinize the claim of an institutional oligopoly. The findings confirm the long-term persistence of strong oligopolistic structures in terms of both, author affiliations as well as PhD-granting institutions. |
| Keywords: | sociology of economics, bibliometrics, concentration in science, replication study |
| Date: | 2022–05 |
| URL: | http://d.repec.org/n?u=RePEc:ico:wpaper:136&r= |
| By: | Veena Naregal; Dezy Kumari (Institute of Economic Growth, Delhi) |
| Abstract: | From 1940s onwards and well into the 1970s, labour policy had revolved around principles of tripartism and protection of labour rights; in contrast, from the late 1980s onwards, policy discourse sought to legitmise a shift from protection of labour rights to a deregulation of labour laws. Major shifts in labour policy agendas were key to changes wrought by economic reforms of the early 1990s. Part I raises questions about how we may map the influence of and continuities in policy agendas and contexts. Is policy influence synonymous with implementation? Deviating from the dominant view within development economics, we argue that policy frameworks can have an enduring influence and impact quite apart from whether they are implemented. Additionally, this part also offers an account of tripartism as a founding structural motif in sustaining labour market dualism and determining the course of labour policy agendas in post-colonial India. Part II offers a historically oriented focus on two key policy reviews of this period between 1966 to 2006, namely reports of first National Commission of Labour [1966-1969] and the Second National Commission of Labour [1999-2002] . The records and reports of both these Commissions are analysed here in conjunction with key parliamentary and political debates of the period pertaining to labour policy. |
| Keywords: | Policy analysis, Labour market dualism, Liberalisation, Labour market reforms, Politics of knowledge |
| Date: | 2021–03 |
| URL: | http://d.repec.org/n?u=RePEc:awe:wpaper:422&r= |
| By: | Julio J. Elias; Nicola Lacetera; Mario Macis |
| Abstract: | Price surges often generate social disapproval and requests for regulation and price controls, but these interventions may cause inefficiencies and shortages. To study how individuals perceive and reason about sudden price increases for different products under different policy regimes, we conduct a survey experiment with Canadian and U.S. residents. Econometric and textual analyses indicate that prices are not seen just as signals of scarcity; they cause widespread opposition and strong and polarized moral reactions. However, acceptance of unregulated prices is higher when potential economic tradeoffs between unregulated and controlled prices are salient and when higher production costs contribute to the price increases. The salience of tradeoffs also reduces the polarization of moral judgments between supporters and opponents of unregulated pricing. In part, the acceptance of free price adjustments is driven by people’s overall attitudes about the function of markets and the government in society. These findings are corroborated by a donation experiment, and they suggest that awareness of the causes and potential consequences of price increases may induce less extreme views about the role of market institutions in governing the economy. |
| JEL: | C83 C91 D63 D91 I11 L50 Z1 |
| Date: | 2022–04 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:29963&r= |
| By: | Dezy Kumari; Veena Naregal (Institute of Economic Growth, Delhi) |
| Abstract: | From 1940s onwards and well into the 1970s, labour policy had revolved around principles of tripartism and protection of labour rights; in contrast, from the late 1980s onwards, policy discourse sought to legitmise a shift from protection of labour rights to a deregulation of labour laws. Major shifts in labour policy agendas were key to changes wrought by economic reforms of the early 1990s. Part I raises questions about how we may map the influence of and continuities in policy agendas and contexts. Is policy influence synonymous with implementation? Deviating from the dominant view within development economics, we argue that policy frameworks can have an enduring influence and impact quite apart from whether they are implemented. Additionally, this part also offers an account of tripartism as a founding structural motif in sustaining labour market dualism and determining the course of labour policy agendas in post-colonial India. Part II offers a historically oriented focus on two key policy reviews of this period between 1966 to 2006, namely reports of first National Commission of Labour [1966-1969] and the Second National Commission of Labour [1999-2002] . The records and reports of both these Commissions are analysed here in conjunction with key parliamentary and political debates of the period pertaining to labour policy. |
| Keywords: | Policy analysis, Labour market dualism, Liberalisation, Labour market reforms, Politics of knowledge |
| Date: | 2021–03 |
| URL: | http://d.repec.org/n?u=RePEc:awe:wpaper:423&r= |
| By: | Fabien Dannequin (REGARDS - Recherches en Économie Gestion AgroRessources Durabilité Santé- EA 6292 - MSH-URCA - Maison des Sciences Humaines de Champagne-Ardenne - URCA - Université de Reims Champagne-Ardenne - URCA - Université de Reims Champagne-Ardenne); Fabien Tarrit (REGARDS - Recherches en Économie Gestion AgroRessources Durabilité Santé- EA 6292 - MSH-URCA - Maison des Sciences Humaines de Champagne-Ardenne - URCA - Université de Reims Champagne-Ardenne - URCA - Université de Reims Champagne-Ardenne) |
| Abstract: | This paper proposes a cross-analysis the contributions of Karl Marx and of Joseph Alois Schumpeter on social classes. It discusses their discrepancies on two issues, the former helping to elaborate on the latter. Both authors admit the existence of social classes on the basis of hierarchy and of discipline. For Marx, they rely on the conflict, which can bring changes that aim to abolish the class hierarchy. As such, it needs an consciousness for facilitating the shift from an objective class in itself to a subjective class for itself. For Schumpeter, a significant degree of discipline is a condition to ensure the progress related to capitalism. Therefore, while Marx conceives capitalism as a transitional mode of social organization, which sows the seeds of its own disequilibrium and demise, Schumpeter regrets the planned end of capitalism, with the decline of innovation and then of progress, through bureaucratization. |
| Abstract: | Cet article présente une analyse croisée des contributions de Karl Marx et de Joseph Alois Schumpeter sur la question des classes sociales. Les divergences que nous soulevons portent sur deux questions, la première nourrissant la seconde. Les deux auteurs reconnaissent tous deux l'existence de classes sociales fondées sur la hiérarchie et la discipline. Marx les conçoit sous l'angle du conflit porteur d'un changement visant à abolir la hiérarchie de classe, et de la sorte l'inscrit dans la nécessité d'une prise de conscience facilitant le passage d'une classe en soi objective à une classe pour soi subjective. De son côté, Schumpeter préconise un degré significatif de discipline propre à assurer le progrès dont est porteur le capitalisme. Ainsi, alors que Marx conçoit le capitalisme comme un mode transitoire d'organisation sociale qui porte les germes de son déséquilibre et de sa disparition, c'est sous l'angle du déclin, via sa bureaucratisation, de l'innovation et donc du progrès, que Schumpeter déplore la fin programmée du capitalisme. |
| Keywords: | Marx Karl,Schumpeter,Classes sociales |
| Date: | 2022–03–23 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03633005&r= |
| By: | Augustin Landier; David Thesmar |
| Abstract: | This paper investigates the drivers of support for market mechanisms (competition and optimizing behavior by agents). We elicit such attitudes using concrete and simplified situations where respondents face a tradeoff between an economically efficient situation and a pro-social objective. We find that support for deviation from efficient solutions achieved through market mechanism is strongly correlated with moral values as defined by Haidt (2013): care, fairness, loyalty and authority. While the traditional left-right divide spans some of this variation, an even bigger role is played by what we label “individualism”, the average support for all 4 values, a moral stance orthogonal to the left-right divide. We ground this measure of individualism in the sociology of Emile Durkheim. |
| JEL: | A11 A13 |
| Date: | 2022–04 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:29942&r= |
| By: | Chatzarakis, Nikolaos; Tsaliki, Persefoni; Tsoulfidis, Lefteris |
| Abstract: | The labour theory of value (LTV) is the cornerstone of the classical and Marxian political economy for it explains the creation and valuation of wealth in capitalist societies and it remains the chief analytical tool in investigating economic phenomena. In this respect macroscopic phenomena, which include many distinct production processes evolving over long gestation periods, conceal the transformation of labour values into their monetary expression (prices). Consequently, the use of the LTV on a grand and dynamic scale is usually considered inapplicable in the construction of macroeconomic models. The classical/Marxian analysis is conducted through either multi-dimensional multi-sectoral models or the solution of the summation problem of heterogeneous commodities. However, many studies have corroborated the dynamic aspects of the LTV and probed for a reduction in the dimensionality of macroeconomic models. In this paper, on the one hand, we restate the dynamic aspects of the LTV over time and, on the other hand, ascertain its utility as a long-run macroeconomic tool. The way to proceed is to model the divergence of actual prices and quantities of commodities from their equilibria in a multi-sectoral economy and establish that the long-run behaviour of the system mirrors the long-run movement of the labour values. |
| Keywords: | labour theory of value; heterodox microeconomics; micro-founding of economic growth; dynamic input-output analysis |
| JEL: | B51 C61 D46 D57 E32 |
| Date: | 2022–04–21 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:112824&r= |
| By: | Heise, Arne |
| Date: | 2022 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:cessdp:93&r= |
| By: | Nicolas Piluso (CERTOP - Centre d'Etude et de Recherche Travail Organisation Pouvoir - UT3 - Université Toulouse III - Paul Sabatier - Université Fédérale Toulouse Midi-Pyrénées - CNRS - Centre National de la Recherche Scientifique - UT2J - Université Toulouse - Jean Jaurès) |
| Date: | 2021–12–05 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03617127&r= |
| By: | Ronicle, David (Bank of England and International Monetary Fund) |
| Abstract: | This paper brings together modern empirical techniques, a sign-restricted structural vector autoregression, with contemporary high frequency data to answer an old question – what role did macroeconomic policy play in Britain’s high unemployment and deflation in the years 1919 to 1938. Its specific innovation is to draw on a previously little-used weekly publication of public finance statistics, allowing the roles of taxation, public spending and monetary policy to be assessed side-by-side in a coherent framework. In a period of particularly unsettled policy the paper finds that policy shocks, both monetary and fiscal, made a material contribution to variation in prices and unemployment – and these played a central role in the two great recessions of the period, modern Britain’s most severe. Other policy choices could have delivered better outcomes for prices and unemployment – but these would have required making different choices in the face of conflicting objectives and some sharp trade-offs. |
| Keywords: | Monetary policy; fiscal Policy; economic history; Great Depression |
| JEL: | E52 E62 N14 |
| Date: | 2022–04–13 |
| URL: | http://d.repec.org/n?u=RePEc:boe:boeewp:0968&r= |
| By: | Matthias Doepke; Anne Hannusch; Fabian Kindermann; Michèle Tertilt |
| Abstract: | In this survey, we argue that the economic analysis of fertility has entered a new era. First-generation models of fertility choice were designed to account for two empirical regularities that, in the past, held both across countries and across families in a given country: a negative relationship between income and fertility, and another negative re- lationship between women’s labor force participation and fertility. The economics of fertility has entered a new era because these stylized facts no longer universally hold. In high-income countries, the income-fertility relationship has flattened and in some cases reversed, and the cross-country relationship between women’s labor force participation and fertility is now positive. We summarize these new facts and describe new models that are designed to address them. The common theme of these new theories is that they view factors that determine the compatibility of women’s career and family goals as key drivers of fertility. We highlight four factors that facilitate combining a career with a family: family policy, cooperative fathers, favorable social norms, and flexible labor markets. We also review other recent developments in the literature, and we point out promising new directions for future research on the economics of fertility. |
| Keywords: | Fertility, Family Economics, Marital Bargaining |
| JEL: | D13 J13 J16 |
| Date: | 2022–05 |
| URL: | http://d.repec.org/n?u=RePEc:bon:boncrc:crctr224_2022_347&r= |
| By: | Douglas A. Irwin |
| Abstract: | The decade from 1985 to 1995 was an unprecedented period of declining barriers to global trade. The reform wave was especially pronounced in developing countries where overvalued currencies were eliminated, quantitative import restrictions dismantled, and import tariffs reduced. What accounts for this remarkable transformation in policy? This paper focuses on how many of these restrictions were imposed for balance of payments purposes. As the benefits of managing payments imbalances through exchange rate adjustments rather than import controls came to be understood, economists in high-ranking government positions had the opportunity to shift policy in this direction. Perhaps surprisingly, special interests played little role in fostering the move to more open markets. |
| JEL: | B17 F13 F31 |
| Date: | 2022–04 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:29973&r= |