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on History and Philosophy of Economics |
| By: | Chiswick, Barry R. |
| Abstract: | This paper is a review of the literature in economics up to the early 1980s on the issue of estimating the earnings return to schooling and labor market experience. It begins with a presentation of Adam Smith's (1776) analysis of wage determination, with the second of his five points on compensating wage differentials being "the easiness or cheapness, or the difficulty and expense" of acquiring skills. It then proceeds to the analysis by Walsh (1935) estimating the net present value of investments at various levels of educational attainment. Friedman and Kuznets (1945) also used the net present value method to study the earnings in five independent professional practices. Based on the net present value technique, Becker (1964) estimates internal rates of return from high school and college/university schooling, primarily for native-born white men, but also for other demographic groups. The first regression-based approach is the development of the schooling-earnings function by Becker and Chiswick (1966), which relates the logarithm of earnings, as a linear function of years invested in human capital, with the application to years of schooling. This was expanded by Mincer (1974) to the "human capital earnings function" (HCEF), which added years of post-school labor market experience. Attractive features of the HCEF are discussed. Extensions of the HCEF in the 1970s and early 1980s account for interrupted labor marker experience, geographic mobility, and self-employment and unpaid family workers. |
| Keywords: | Human Capital, Schooling Earnings Function, Human Capital Earnings Function, Schooling, Labor Market Experience, Women, Immigrants, Less Developed Countries, Self-Employed, Unpaid Workers |
| JEL: | I24 I26 J3 J46 J61 O15 B29 |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:glodps:1365&r=hpe |
| By: | Khalid Lahrour (UH2C - Université Hassan II de Casablanca (UH2C)); Latifa Horr (UH2C - Université Hassan II de Casablanca (UH2C)) |
| Abstract: | The concept of inclusion is related to the means of integrating individuals and social groups into social, economic and cultural life by enabling them to participate fully. Economic thought for centuries has considered human well-being as what gives meaning to economic activity. The utilitarian moral theory of Bentham and John Stuart Mills asserts that the purpose of economic activity is to improve the quality of life for the maximum number of people. The inclusive approach includes different aspects, such as social, cultural, economic and financial inclusion. The objective of this paper is to explore the concept of financial inclusion as a form of improving individual well-being and integration into the economic and social activity of a country. To achieve this objective, the paper uses a theoretical approach that draws on the review of available literature on financial inclusion and the different theoretical approaches and perspectives associated with it from prior research and studies to support the arguments presented and to show the importance of financial inclusion in ensuring a more inclusive society. |
| Abstract: | Le concept d'inclusion est lié aux moyens d'intégrer les personnes et les groupes sociaux dans la vie sociale, économique et culturelle en leur permettant d'y participer pleinement. La pensée économique depuis des siècles considère que le bien-être humain est ce qui donne de la signification à l'activité économique. La théorie morale utilitariste de Bentham et John Stuart Mills affirme que l'objectif de l'activité économique est d'améliorer la qualité de vie pour un maximum de personnes. L'approche inclusive couvre divers aspects, tels que l'inclusion sociale, culturelle, économique et financière. Pour atteindre ces objectifs, il est crucial de tenir compte des besoins des individus et des groupes vulnérables et de développer des politiques publiques pour les satisfaire. L'objectif de cet article est d'explorer le concept d'inclusion financière en tant que forme d'amélioration du bien-être individuel et d'intégration dans l'activité économique et sociale d'un pays. Pour atteindre cet objectif, l'article utilise une approche théorique qui se base sur la revue de la littérature disponible sur l'inclusion financière et les différentes approches et perspectives théoriques qui y sont associées des recherches et des études préalables pour étayer les arguments présentés et pour montrer l'importance de l'inclusion financière pour garantir une société plus inclusive. |
| Keywords: | Inclusion, Financial inclusion, Financial exclusion, growth, well-being, Inclusion financière, Exclusion financière, croissance, bien-être |
| Date: | 2023–12–02 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-04346087&r=hpe |
| By: | Redigonda, Margherita |
| Abstract: | This paper has two aims: to explore the suitability of computational tools in order to get a description of long-term evolution of mainstream economics and to test the "mainstream pluralism" hypothesis. A topic model is developed using full-text from papers published in a sample of top economics journals and the hierarchical Stochastic Block Model algorithm. The model is able to replicate many qualitative facts about the history of mainstream economics. Finally, the reason of the failure to test for the "mainstream pluralism" hypothesis are discussed. |
| Date: | 2023–12–10 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:3rcdn&r=hpe |
| By: | Gilles Campagnolo (ISJPS - Institut des sciences juridique et philosophique de la Sorbonne - UMR 8103 - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | La Chine peut-elle atteindre l'objectif indiqué par Xi Jinping dans le discours adressé au Congrès plénier du PCC d'octobre 2017, à savoir une puissance chinoise atteignant pour le centenaire de l'accession du PCC au pouvoir, en 2049, un socialisme modernisé et « la place active du peuple chinois à la tête des peuples du monde » (18/10/2017). Il s'agit d'avoir réussi, selon les termes utilisés, une accélération dans l'édification d'un pays fort dans les sciences et les technologies, dans les productions de haute qualité (à forte intensité capitalistique), dans l'espace (base permanente sur la Lune), sur Internet, dans les transports (programme des « Routes modernes de la soie », ou One Road, One Belt et New Silk Roads) et dans les industries productives globalement. Ce discours s'adressait à l'auditoire du pays, comme les discours du même dirigeant suprême à Davos en 2017 et 2021 étaient destinés à l'extérieur de la Chine. L'actualité met la Chine ces questions au premier plan. Elles demandent toutefois un examen qui aille très au-delà des questions d'actualité, ou plutôt en deçà, dans la considération de fondements profonds des politiques publiques et une perspective d'histoire (très) longue |
| Keywords: | Chine, histoire économique, philosophie économique |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-04325494&r=hpe |
| By: | Redigonda, Margherita |
| Abstract: | The absence of a recognized definition of complexity makes very difficult to study it. This paper attempts to provide a definition of complexity following the insight expressed by Anderson in the 1972 article "More is Different" in an anti-reductionist perspective and recognizing the difference between the idea of complexity and the mathematical methods historically used for the study of complex systems. The definition provided allows for the recognition of complexity as a meta-theory rather than as a scientific theory, describing its characteristics. Next, the relationship between complexity and economics is explored from a historical and methodological perspective, recognizing three different archetypes of the relationship (neo-empirical, post-neoclassical, meta-theoretical). Finally, what social norms hinder or would facilitate the adoption of complexity meta-theory in scientific practice are described. |
| Date: | 2023–12–10 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:hnvzx&r=hpe |
| By: | Xavier Timbeau (OFCE - Observatoire français des conjonctures économiques (Sciences Po) - Sciences Po - Sciences Po) |
| Date: | 2023–12 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-04338591&r=hpe |
| By: | Martín Iñaki Loriente (Department of Economics, Universidad de San Andrés); Juan Cruz Diez (Department of Economics, Universidad de San Andrés) |
| Abstract: | In 1950, Harold W. Kuhn introduced a simplified version of poker referred to as Kuhn Poker and solved it using the notion of Nash Equilibrium. His pioneering work inspired subsequent scholars who applied similar methodologies to other poker versions. In contrast we adopt a different procedure by employing Harsanyi’s approach to reach a Perfect Bayesian Equilibrium (PBE), a concept that emerged two decades after Kuhn’s original solutions. While computational techniques have greatly advanced the analysis of various poker variations, achieving a PBE remains elusive. Some studies suffer from methodological flaws, as they overlook the importance of incorporating beliefs into their analysis. In our research, we also conducted a rationality study and found that relaxing the sophistication of a player leads to a shift in optimal strategies towards more exploitative ones. |
| Keywords: | Bayesian, Exploitative, GTO, KuhnPoker, PBE, Poker, Rationality |
| Date: | 2023–10 |
| URL: | http://d.repec.org/n?u=RePEc:sad:ypaper:10&r=hpe |
| By: | Bertrand Valiorgue (EM - emlyon business school) |
| Abstract: | Le lecteur familier des travaux d'Alain Charles Martinet ne sera pas surpris et encore moins déçu par la lecture de son dernier ouvrage tant il réaffirme une pensée forte et percutante pour saisir à la fois la dynamique du champ de la stratégie et sa pratique par et dans les entreprises. Celui ou celle qui ne connaîtrait pas l'œuvre d'A.C. Martinet découvrira un chercheur d'une grande érudition dont la pensée raffinée porte un diagnostic particulièrement lucide sur l'état du monde, des entreprises et la nécessité de (re)développer une pensée stratégique. |
| Date: | 2022–10–31 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-04325628&r=hpe |
| By: | Xavier Ragot (OFCE - Observatoire français des conjonctures économiques (Sciences Po) - Sciences Po - Sciences Po) |
| Date: | 2023–12 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-04338487&r=hpe |
| By: | Andrea Mennicken (LSE - London School of Economics and Political Science); Robert Salais (IDHES - Institutions et Dynamiques Historiques de l'Économie et de la Société - UP1 - Université Paris 1 Panthéon-Sorbonne - UP8 - Université Paris 8 Vincennes-Saint-Denis - UPN - Université Paris Nanterre - UEVE - Université d'Évry-Val-d'Essonne - CNRS - Centre National de la Recherche Scientifique - ENS Paris Saclay - Ecole Normale Supérieure Paris-Saclay) |
| Abstract: | This chapter sets out what is ``new'' in the politics of numbers and this volume's approach to their study. Rather than asking what quantification is, this volume is interested in describing and analysing what quantification does, tracking and unpacking various quantification practices and their manifold consequences in different domains. The book revisits the power of numbers, and examines changing relations between numbers and democracy. It engages, for the first time, Foucault inspired studies of quantification and the economics of convention in a critical dialogue. In so doing, the volume seeks to account more systematically for the plurality of the possible ways in which numbers can come to govern, highlighting not only disciplinary effects but also the collective mobilization capacities quantification can offer. |
| Keywords: | Democracy, Economics of convention, Foucault, Power, Quantification, sociologie, Utopia |
| Date: | 2022 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-04115712&r=hpe |
| By: | Michela Giorcelli |
| Abstract: | The Second World War II (WWII) was arguably one of the largest shocks to the U.S. economic and production system in history. Historians, business historians, and economists have largely discussed the stimulus that WWII had on U.S. technological advancements. However, its effect on U.S. ‘‘managerial technology’’ innovations has been largely ignored, except for very few qualitative works. In this paper, I argue that ‘‘managerial technology’’ played a key role in shaping U.S. WWII production and its capacity to defeat some of the most advanced economies in the world. The large-scale diffusion of innovative management practices to US firms involved in war production acted as a technology that put them on a higher growth path for decades. Moreover, it made U.S. managerial practices internationally distinctive and helped create the so-called “American Way” of business, which was exported to war-torn European and Japanese economies in the war aftermath. |
| JEL: | N0 |
| Date: | 2023–12 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:31980&r=hpe |