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on History and Philosophy of Economics |
| By: | José M. Menudo (Department of Economics, Universidad Pablo de Olavide); Francisco A. Borja (Department of Economics, Universidad San Francisco de Quito) |
| Abstract: | This paper examines the influence of the French liberal school in the formation of the Andean republics—Ecuador, Colombia, Peru, and Chile. Our primary focus lies on the teaching of political economy during the last two thirds of the 19th century. Our scrutiny to the chairs of political economy and a text mining analysis of their textbooks allows us to conclude that the French liberal school exerted a stronger influence compared to its British counterpart. In addition, the influence varied from the Chilean enthusiast reception to the political obstacles in the case of Colombia. |
| Keywords: | French liberal economists, Latin America, Spread of economic ideas, Teaching of Political Economy.. |
| JEL: | B31 B12 A11 A20 |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:pab:wpaper:24.01&r= |
| By: | Hunter, Janet |
| Abstract: | he decade following the Great Kantō Earthquake of 1923 witnessed a proliferation of writings by officials, academics, businessmen, and journalists on the economic consequences of the disaster. This abundance of contemporary analysis stands in strong contrast to the relative scarcity of subsequent scholarly studies of many aspects of the disaster’s economic impact. In this article, I suggest that part of the reason for this relative lacuna lies in broader trends within economics and economic history scholarship. In particular, a focus on quantitative analysis and macro-level indicators has led to the conclusion that over the longer term, the Kantō earthquake, like similar disasters elsewhere, did not matter that much for the development of the country’s economy. I also show that although recent advances in economic theory, especially in the economics of disasters, can strengthen historians’ analyses of the economic consequences of the 1923 disaster, many of these ‘new’ conceptual frameworks were foreshadowed by contemporary commentators seeking to analyze the impact of the disaster on the economic life of the nation. Ikeuchi Yukichika’s book Shinsai Keizai Shigan, published in December 1923, is a particularly good example of how, just like recent disaster economists, Japanese contemporaries viewed the analysis of markets as the key to understanding both the economic impact of the disaster and how best to rebuild Japan’s economy. |
| Keywords: | earthquake; disaster; economy; historiography; markets |
| JEL: | J1 |
| Date: | 2024–09–01 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:122979&r= |
| By: | Dasgupta, Partha; Besley, Timothy |
| Abstract: | This conversation with Sir Partha Dasgupta, moderated by Annual Review of Economics Editorial Commitee Member Tim Besley, focuses on biodiversity and its implications for economic thought and policy. A video of this interview is available online at https://www.annualreviews.org/r/partha_d asgupta_interview. |
| Keywords: | asset management; biodiversity; development; economic theory; growth; inclusive wealth |
| JEL: | B41 D62 E61 F11 J11 Q21 |
| Date: | 2023–09–13 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:123495&r= |
| By: | Martin J. Osborne |
| Abstract: | I argue that Acemoglu and Robinson (2000) misinterpret statements by Earl Grey that they claim support their thesis that the "Great" Reform Act of 1832 in the United Kingdom was a response to the threat of rebellion. I also point out some errors in their presentation of the evidence. |
| Keywords: | Inequality, Democracy, Franchise extension |
| JEL: | P |
| Date: | 2024–06–04 |
| URL: | https://d.repec.org/n?u=RePEc:tor:tecipa:tecipa-778&r= |
| By: | Fitzgerald, Jack |
| Abstract: | Equivalence testing methods can provide statistically significant evidence that relationships are practically equal to zero. I demonstrate their necessity in a systematic reproduction of estimates defending 135 null claims made in 81 articles from top economics journals. 37-63% of these estimates cannot be significantly bounded beneath benchmark effect sizes. Though prediction platform data reveals that researchers find these equivalence testing 'failure rates' to be unacceptable, researchers actually expect unacceptably high failure rates, accurately predicting that failure rates exceed acceptable thresholds by around 23 percentage points. To obtain failure rates that researchers deem acceptable, one must contend that nearly half of published effect sizes in economics are practically equivalent to zero. Because such a claim is ludicrous, Type II error rates are likely quite high throughout economics. This paper provides economists with empirical justification, guidelines, and commands in Stata and R for conducting credible equivalence testing in future research. |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:i4rdps:125&r= |
| By: | Ingela Alger; Jos\'e Ignacio Rivero-Wildemauwe |
| Abstract: | We conduct a laboratory experiment using framing to assess the willingness to ``sell a lemon'', i.e., to undertake an action that benefits self but hurts the other (the ``buyer''). We seek to disentangle the role of other-regarding preferences and (Kantian) moral concerns, and to test if it matters whether the decision is described in neutral terms or as a market situation. When evaluating an action, morally motivated individuals consider what their own payoff would be if -- hypothetically -- the roles were reversed and the other subject chose the same action (universalization). We vary the salience of role uncertainty, thus varying the ease for participants to envisage the role-reversal scenario. |
| Date: | 2024–05 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2405.13186&r= |
| By: | McGovern, Patrick; Obradović, Sandra; Bauer, Martin W. |
| Abstract: | Has rising income inequality become a scandalous social problem as the English ethical socialist R. H. Tawney anticipated in an earlier era? We examine the salience and framing of income inequality within major UK and US newspapers over the period 1990–2015. Specifically, this includes the global banking crisis of 2008, which was the most significant financial crisis in capitalist economies since the Great Depression of 1929. Did this event trigger a public outcry? We divide the overall search into a full corpus for quantitative analysis of media salience and a smaller corpus for in-depth qualitative analysis of media frames. We find that media coverage of income inequality increased across the period in both countries and especially after 2008. With this increase, there is a shift in frame prevalence, with pre-2008 frames focusing on conceptualising rising income inequality while post-2008 frames focus on managing rising inequality (through interventions, policies and identifying scale of solutions needed). This shift is accompanied by a more polarised sentiment on income inequality, an increase in moralising language and a more balanced political slant. The proposed ‘solutions’ become absorbed within established repertoires offered by the political right and left, limiting the emergence of a Tawney Moment. Consequently, the rise in income inequality has not generated the kind of scandalising public outcry that Tawney would expect. We conclude by examining the possible reasons for the lack of outrage in the mass media. |
| Keywords: | United States; frame analysis; income inequality; mass media; United Kingdom |
| JEL: | N0 |
| Date: | 2023–09–15 |
| URL: | http://d.repec.org/n?u=RePEc:ehl:lserod:123556&r= |