|
on History and Philosophy of Economics |
| By: | Devlin, Nicholas |
| Abstract: | There is a consensus in the literature that the Marxism of the Second International (1889-1916) lacked philosophical sophistication and that understanding of Marxism’s Hegelian origins was lost soon after Karl Marx’s death, only to be recovered with the emergence of Western Marxism in the 1920s. This article challenges this consensus, urging revision of the basic outlines of the intellectual history of Marxism. It begins by sketching two ways contemporary scholars understand the Hegel-Marx connection. It then shows that these views were anticipated before World War I in the work of Max Adler. Against the view that Hegel was “put back into Marxism” in the 1920s or 1970s, then, this article maintains that there have always been sophisticated as well as simplifying accounts of the Hegel-Marx connection. |
| Keywords: | Marxism; Hegel; Max Adler; Karl Marx; intellectual history |
| JEL: | B14 B24 P2 P3 |
| Date: | 2026–03–02 |
| URL: | https://d.repec.org/n?u=RePEc:ehl:lserod:128745 |
| By: | GUISAN, Maria-Carmen |
| Abstract: | This paper presents a brief history of the Euro-American Association of Economic Devleopment Studies (EAAEDS) on its 25th Anniversity. This is a little-big association that has contributed to publish many interesting cuantitative studies on Education, World development and Quality of Life. We wish to highlight the interest of the contributions of the journals, books and reports published by the Association for the period 2001-2025. We cite several articles related with the important role of Education, Industria, Trade and other variables on World Development and include lists of the most popular articles. We have analyzed international development with panel data of many countries, for several periods, and the empirical evidence shows that Education is generally the main driver of development thanks to its positive effects on social values, the quality of government, industrial and non-industrial production per capita, and quality of life. The Association was founded by members of the Econometrics Team at the Faculty of Economics of the Spanish University of Santiago de Compostela in year 2001 and is grateful to the support from prestigious authors from many countries, including Nobel Prize Lawrence R. Klein who lent his support by accepting the position of Honorary President of the Association, from year 2004 until his deeply felt passing in 2013. |
| JEL: | C5 I2 I3 O11 O51 O52 O53 O54 O55 O56 O57 |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:eaa:ecodev:133 |
| By: | Engelbert Stockhammer |
| Abstract: | Blecker and Setterfield’s outstanding Heterodox Macroeconomics book covers, as its subtitle suggests, a lot of ground on “models of demand, distribution and growth”, but issues of finance are largely absent. This is symptomatic of the state of heterodox macroeconomics, which has a developed common framework for the analysis of distribution and growth, but not for finance. The paper takes this as a starting point for some reflections on the role of finance in post-Keynesian (PK) and Marxist approaches. In PKE, financial factors play a constitutive role and determine the equilibrium values of key macroeconomic variables. Hyman Minsky’s work puts finance at the heart of PK business cycle theory. Marxist macroeconomics often treats finance as subordinate to real (productive) processes or not at all. We consider three episodes of how PK-Marxist debates played out: the Woytinsky-Hilferding debate of the 1930s, the debate on heterodox explanations of business cycles and the debate on financialisation. In these, the relation between PK and Marxism was confrontational, largely non-interactive and productive, respectively. The paper concludes that heterodox macroeconomics lacks an effective framework for a productive articulation of the different views on the role of finance. |
| Keywords: | finance, macroeconomics, post-Keynesian economics, Marxian economics |
| JEL: | B50 E60 G01 |
| Date: | 2026–03 |
| URL: | https://d.repec.org/n?u=RePEc:pke:wpaper:pkwp2607 |
| By: | Leiva, Juan Carlos; Núñez, Evelyn |
| Abstract: | La comprensión de la naturaleza del empleo y el emprendimiento ha sido un tema de interés en las ciencias económicas y sociales de larga data, desde los trabajos pioneros de economistas clásicos como Adam Smith, David Ricardo, Karl Marx, Richard Cantillon, o Joseph Schumpeter, entre muchos otros, hasta los llamados más recientes provenientes de la literatura científica (Filippi et al. , 2023; Hajat et al. , 2024; Gupta 2024). Es tal la relevancia de este tema que incluso la Agenda 2030 de las Naciones Unidas, aprobada en 2015, incluye un objetivo específico dedicado al tópico (Trabajo Decente y Crecimiento Económico) como uno de los 17 Objetivos de Desarrollo Sostenible (ODS). |
| Date: | 2025 |
| URL: | https://d.repec.org/n?u=RePEc:nmp:nuland:4467 |
| By: | Martin Kolmar |
| Abstract: | Revealed preference theory (RPT) and its behavioral extension (BRPT) underpin an important strand of welfare economics. Their normative appeal rests on the claim that welfare can be inferred from observed behavior without substantive assumptions about what agents should value - a property I call value neutrality. This paper argues that such neutrality is structurally impossible. I develop a framework - the triangulation problem - identifying five dimensions along which inference from behavior to welfare is underdetermined: the partitioning of the alternative space, the preference domain, the choice rule, the social technology, and the phenomenological mapping from preferences to experience. A sixth problem - the agent's lack of experiential acquaintance with novel alternatives - compounds the underdeterminacy. Resolving these dimensions requires substantive commitments about value rationality - about what agents ought to care about and what counts for welfare. No specification of (B)RPT is both determinate enough to yield welfare rankings and neutral with respect to value rationality. I show that this impossibility entails a collapse thesis: (B)RPT understands itself as a subjectivist theory of well-being, but every operational specification embeds objectivist commitments - attitude-independent claims about what is basically good for the agent - in its auxiliary assumptions. In normative use, (B)RPT is a de-facto objectivist theory that presents itself in subjectivist form, concealing commitments that require philosophical justification behind an appearance of empirical neutrality. |
| Keywords: | revealed preference theory, (behavioral) welfare economics, value rationality, underdeterminacy, normative economics, subjectivism, objectivism, well-being |
| JEL: | B41 D01 D60 D63 I31 |
| Date: | 2026 |
| URL: | https://d.repec.org/n?u=RePEc:ces:ceswps:_12519 |
| By: | Shera Dalin |
| Abstract: | St. Louis Fed economists are inspired by a variety of sources, such as topics in the news and social media, when deciding what to write about for our blogs. |
| Date: | 2025–06–25 |
| URL: | https://d.repec.org/n?u=RePEc:fip:l00100:102768 |
| By: | Beramendi, Pablo; Besley, Timothy; Levi, Margaret |
| Abstract: | Political inequality is a distinctive type of inequality, which cannot be reduced to economic or power inequalities. The article frames political equality as trying to achieve ‘equal consideration’ among members of a polity, arguing that assessing whether this is achieved requires looking at process as well as outcomes. The analysis focuses on two core dimensions that can be studied empirically: patterns of political participation and political representation. Studying these reinforces the idea that, even in advanced democracies, politics is an elite activity concentrated among the educated and those with material and ideological resources. The article discusses the consequences of political inequality framed as equal consideration and a range of reforms that have been proposed to reduce it. |
| Keywords: | equal consideration; political equality; political participation; political representation |
| JEL: | J1 |
| Date: | 2024–07–17 |
| URL: | https://d.repec.org/n?u=RePEc:ehl:lserod:137517 |
| By: | Dickinson, David (Appalachian State University) |
| Abstract: | This paper introduces a novel Payoff-Trolley dilemma task, where other participants’ payoffs were at stake on the main or sidetrack in a trolley dilemma. Different scenarios varied the number of “others’ payoffs†on the sidetrack and main track in ways that helped identify more clearly immoral choices of commission and omission, and utilitarian choices. Study participants had also made hypothetical Trolley dilemma choices in a separate study 4-5 years prior, allowing for a direct comparison of hypothetical and consequential moral dilemma choices. One key finding is that past hypothetical choices are statistically significant predictors of present consequential choices in the Payoff-Trolley task. Also, we find that one’s degree of cognitive reflection is the most robust person-specific characteristic that predicts choices—higher cognitive reflection predicts more utilitarian choices, a reduced likelihood of immoral acts of commission and omission, and it impacts one’s sensitivity to immoral choices for a given level of net-harm present in the scenario. These results hope to bridge a gap in our understanding of how choices in hypothetical moral dilemmas inform behaviors in consequential moral dilemmas. |
| Keywords: | moral choice, experiments, trolley dilemma, dark personality, cognitive reflection |
| JEL: | C9 D61 D91 I31 |
| Date: | 2026–03 |
| URL: | https://d.repec.org/n?u=RePEc:iza:izadps:dp18428 |