nep-pke New Economics Papers
on Post Keynesian Economics
Issue of 2006‒12‒01
five papers chosen by
Karl Petrick
University of the West Indies

  1. The neoliberal "Rebirth" of development economics By Rémy Herrera
  2. The Origins of Fair Play By Ken Binmore
  3. On Prices in Myrdal's Monetary Theory By Alexander Tobon
  4. Science and Ideology in Economic, Political, and Social Thought By Hillinger, Claude
  5. La crítica de Hicks al Tratado del Dinero de Keynes By Alexander Tobon

  1. By: Rémy Herrera (CES - Centre d'économie de la Sorbonne - [CNRS : UMR8174] - [Université Panthéon-Sorbonne - Paris I])
    Abstract: This article is to be published in the May 2006 issue of the Monthly Review. Nowadays, neoclassical economics' domination of development theory is on par with that of high finance's neoliberal power over development policies. There are important complementarities between these two forms of ideological domination which are mutually reinforcing and interdependent. Thus, it is not only the absence of a scientific basis and the logical inconsistencies that disqualify these approaches, but the ideological function and antisocial project that their methodologies and conclusions support in the service of world capital.
    Keywords: Development, neo-classical economics, neo-liberalism, crisis, heterodoxies.
    Date: 2006–11–13
  2. By: Ken Binmore
    Abstract: This paper gives a brief overview of an evolutionary theory of fairness. The ideas are fleshed out in Binmore's book 'Natural Justice' (Oxford University Press, New York, 2005.), which is itself a condensed version of his earlier two-volume book 'Game Theory and the Social Contract' (MIT Press, Cambridge, MA, 1994 and 1998). Length 29 pages
    Date: 2006–11
  3. By: Alexander Tobon (EconomiX - [CNRS : UMR7166] - [Université de Paris X - Nanterre])
    Abstract: The aim of this paper is to show how Myrdal monetary theory can contribute to the study of the behaviour of prices in disequilibrium. The analysis explains the existence of a cumulative process based on the capacity of the entrepreneur to anticipate price variations. The variation in prices explains the persistence of the cumulative process. This, we argue, represents an opposite view of the one contained in Wicksell's theory. Myrdal's theory leads to the rejection of the quantity theory of money based on Wicksell's approach. This comes as a surprising result knowing Wicksell believed his results confirmed this theory.
    Keywords: Myrdal; monetary equilibrium; cumulative process; prices; profit
    Date: 2006–10–19
  4. By: Hillinger, Claude
    Abstract: This paper has two sources: One is my own research in three broad areas: business cycles, economic measurement and social choice. In all of these fields I attempted to apply the basic precepts of the scientific method as it is understood in the natural sciences. I found that my effort at using natural science methods in economics was met with little understanding and often considerable hostility. I found economics to be driven less by common sense and empirical evidence, then by various ideologies that exhibited either a political or a methodological bias, or both. This brings me to the second source: Several books have appeared recently that describe in historical terms the ideological forces that have shaped either the direct areas in which I worked, or a broader background. These books taught me that the ideological forces in the social sciences are even stronger than I imagined on the basis of my own experiences. The scientific method is the antipode to ideology. I feel that the scientific work that I have done on specific, long standing and fundamental problems in economics and political science have given me additional insights into the destructive role of ideology beyond the history of thought orientation of the works I will be discussing.
    Keywords: Business cycles; Ideology; Science; Voting; Welfare measurement
    JEL: B40 C50 D71 E32
    Date: 2006–11
  5. By: Alexander Tobon (EconomiX - [CNRS : UMR7166] - [Université de Paris X - Nanterre])
    Abstract: El objetivo de este artículo es mostrar que la crítica que hace Hicks al Tratado del Dinero de Keynes es incorrecta. Para ello, presentamos el modelo de Keynes, mostrando que la igualdad entre la inversión y el ahorro es una condición de equilibrio monetario y no una identidad. Este resultado no puede ser obtenido en el análisis de Hicks.
    Keywords: Keynes; Hicks; precios; beneficios; ahorro; inversión
    Date: 2006–10–19

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