nep-pke New Economics Papers
on Post Keynesian Economics
Issue of 2008‒05‒31
six papers chosen by
Karl Petrick
University of the West Indies

  1. The Politics of Economic Adjustment in a Liberal Market Economy: the Social Compensation Hypothesis Revisited By Niamh Hardiman; Patrick Murphy; Orlaith Burke
  2. "Trying" to be Entrepreneurial By Brannback, Malin; Krueger, Norris; Carsrud, Alan; Elfving, Jennie
  3. In Quest of Truth: The War of Methods in Economics By Pillai N., Vijayamohanan
  4. Governing the Economy By Niamh Hardiman
  5. Trade and Empire, 1700-1870 By Kevin H. O’Rourke; Leandro Prados de la Escosura; Guillaume Daudin
  6. Institutions, taxation, and market relationships in ancient Athens By Lyttkens, Carl Hampus

  1. By: Niamh Hardiman (School of Politics & International Relations, University College Dublin); Patrick Murphy (School of Mathematical Sciences, University College Dublin); Orlaith Burke (PhD Candidate, School of Mathematical Sciences, University College Dublin)
    Date: 2008–02–04
  2. By: Brannback, Malin; Krueger, Norris; Carsrud, Alan; Elfving, Jennie
    Abstract: If we are to understand how entrepreneurial intentions evolve, we must embrace theories reflecting the inherent dynamics of human decision making. While the dominant model of entrepreneurial intentions remains invaluable, capturing the dynamics is necessary to advance our understanding of how intent becomes action. To this end, we offer Bagozzi’s Theory of Trying (TT) as a theory-driven model that assumes a dynamic pathway to intent. Rather than focusing on intentions toward a static target behavior, TT focuses on intentions toward a dynamic goal. To support this perspective, we offer striking new evidence that the emergent intentions process is indeed dynamic.
    Keywords: intentions; theory of trying; tipping points; reciprocal causation; entrepreneurship; entrepreneurial cognition
    JEL: M13
    Date: 2007–06
  3. By: Pillai N., Vijayamohanan
    Abstract: The present paper discusses the ‘battle of methods’ in economics in its epistemic pursuit in the framework of a dialectics between science and art. The traditional distinction between deduction and induction has come to be characterized as a ‘theory-data confrontation’; while the former a priori approach has flourished in terms of mathematical economics, the inductive approach has fulfilled its mission through econometrics and experimental economics. The paper outlines the recent trends in econometrics and experimental economics in the context of empirical pursuit. We conclude the study, reiterating the contemporary consensus on the complementary roles of the two approaches: a theory-data confluence, not in a static, but in a dialectical framework.
    Keywords: Economic Methodology; Deduction; Induction; Dialectics; Mathematics; Econometrics
    JEL: B23 B16 B00 B41
    Date: 2008–05–25
  4. By: Niamh Hardiman (School of Politics and International Relations, University College Dublin)
    Date: 2007–11–16
  5. By: Kevin H. O’Rourke (Department of Economics, Trinity College Dublin); Leandro Prados de la Escosura (Departamento de Historia Económica e Instituciones, Universidad Carlos III de Madrid); Guillaume Daudin (Département “Économie de la Mondialisation”, OFCE and Université Lille-I)
    Abstract: This paper surveys the rise and fall of the European mercantilist system, and the transition to the modern, well-integrated international economy of the 19th century. It also surveys the literature on the links between trade and economic growth during the period, and on the economic effects of empire.
    Keywords: trade, empire, history
    JEL: N43 N73
    Date: 2008–05
  6. By: Lyttkens, Carl Hampus (Department of Economics, Lund University)
    Abstract: This paper explores the mutual influence between the institutional development in Athens in the archaic and classical periods and the contemporary changes in economic life. This enhances our understanding of the causes and consequences of institutional change. It is also worth exploring in view of the suggested connections between economic development, markets and democracy. Between 600 and 322 B.C., Athenian society underwent significant institutional change. Rule by a birth aristocracy gave way to (changing) democratic institutions. Political pay was introduced for magistrates, jurors, and assemblymen. Legislation and execution was transferred to the Assembly and to the courts. The nature and extent of taxation changed. In the same period, economic life changed both qualitatively and quantitatively. Trade and specialisation increased, coinage was introduced and self-sufficient farming gradually gave way to reliance on imports and on the market for necessary goods. These changes not only influenced institutional change, they also affected people’s perception of the world. The influence of institutions on the presence and nature of economic transactions is obvious. The influence on institutional change from changes in economic behaviours and outlook seems however potentially equally important.
    Keywords: institutional change; democracy; market; Athens; antiquity
    JEL: D72 H30 N43 O17 P16
    Date: 2008–02–28

This nep-pke issue is ©2008 by Karl Petrick. It is provided as is without any express or implied warranty. It may be freely redistributed in whole or in part for any purpose. If distributed in part, please include this notice.
General information on the NEP project can be found at For comments please write to the director of NEP, Marco Novarese at <>. Put “NEP” in the subject, otherwise your mail may be rejected.
NEP’s infrastructure is sponsored by the School of Economics and Finance of Massey University in New Zealand.