|
on Post Keynesian Economics |
| By: | Neil Hart (Industrial Relations Research Centre, the University of New South Wales); Peter Kriesler (School of Economics, Australian School of Business, the University of New South Wales) |
| Abstract: | This paper, in honour of John King, addresses the question raised by him in his A History of Post-Keynesian since 1936, reflected in the title. Initial surveys of post-Keynesian economics defined it in term of the Keynesian, Kaleckian and Sraffian strands. However, subsequently, it has become less clear that the Sraffian stream should be included under the ‘broad church’ known as post-Keynesian economics. Serious and irreconcilable methodological differences exist between Sraffians and post-Keynesians about the validity of comparisons of long-run equilibrium positions, the role of historical time and the importance of uncertainty. |
| Keywords: | Keynes, post-Keynesians, Sraffians, methodology, path determinacy, traverse |
| JEL: | B2 B41 B5 D4 D5 |
| Date: | 2014–01 |
| URL: | http://d.repec.org/n?u=RePEc:swe:wpaper:2014-06&r=pke |
| By: | Geoff C. Harcourt (School of Economics, Australian School of Business, the University of New South Wales); Peter Kriesler (School of Economics, Australian School of Business, the University of New South Wales) |
| Abstract: | David Ricardo’s key place in the history of economic thought is well established. However, both the understanding of his Principles of Political Economy and Taxation and its role in the development of economic analysis is much more controversial. Cambridge economists have contributed significantly to both of these issues. They have played an important part in two extremely divergent interpretations of Ricardo’s place in the development of economic thought. Understanding how Ricardo has been viewed in Cambridge does not result in homogeneity, but in a spectrum of interpretations. In this paper, we focus on the role of Ricardo’s Principles in the development of economics as seen by Cambridge economists. |
| Keywords: | Ricardo, Cambridge School, History of economic thought, short period, long period |
| JEL: | B12 B20 B41 E10 |
| Date: | 2014–01 |
| URL: | http://d.repec.org/n?u=RePEc:swe:wpaper:2014-04&r=pke |
| By: | Eugen Dimant (University of Paderborn) |
| Abstract: | Corruption has fierce impacts on economic and societal development and is subject to a vast range of institutional, jurisdictional, societal and economic conditions. Research indicates that corruption’s predominantly negative effects have arisen to a massive trans-border threat while creating high obstacles to sustainable and prospective development, ultimately impairing everybody’s life. This paper provides a comprehensive state-of-the-art review of existing literature on corruption and its antecedents and effects. Consequently, we bridge the gap between existing theories of different fields of research including economics, psychology, and criminology in order to draw a conclusive picture of corruption on the micro-, meso- and macro-level. |
| Keywords: | Bribery, Corruption, Development, Interdisciplinarity, Public Economics, Survey |
| JEL: | D73 H1 O17 K42 |
| Date: | 2014–05 |
| URL: | http://d.repec.org/n?u=RePEc:pdn:wpaper:79&r=pke |
| By: | Kakarot-Handtke, Egmont |
| Abstract: | There is not much use to attack standard economics because deep in his heart the representative economist long knows that he is tied to a degenerating research program. The problem is, rather, that it seems to be exceedingly difficult to build up a convincing alternative. Keynes, for one, tried and was successful – albeit not fully. Unfortunately, he got some basics wrong. The conceptual consequence of the present paper is to discard the accustomed subjective-behavioral axioms and to take objective-structural axioms as the formal point of departure for the analysis of employment as the main practical issue of economics. |
| Keywords: | new framework of concepts; structure-centric; axiom set; price setter; full employment; multiplier; price mechanism; profit mechanism |
| JEL: | B59 E12 E24 |
| Date: | 2014–03–12 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:54367&r=pke |
| By: | Faruk Ülgen (CREG - Centre de recherche en économie de Grenoble - Université Pierre-Mendès-France - Grenoble II : EA4625) |
| Abstract: | This article maintains that capitalist market economies have a threefold composite characteristic (the central role of money and financial relations, the crucial role of institutional patterns, and the macro nature of stability and viability concerns) that makes social control a consistent way of designing an efficient macro environment. Institutional economics precisely relies on such a triptych and reveals to be an appropriate theoretical and practical reference to deal with today's major economic issues such as the 2007-08 systemic crisis. Therefore the article suggests an institutional analysis that points to the role of institutional-regulatory framework and the rationale of social control principles in the stabilization of the working of capitalist finance. It then advocates for an alternative organization of the banking and financial system in order to ensure systemic sustainability and to guide the economy towards socially efficient directions. |
| Keywords: | capitalist market economy ; financial instability ; institutions ; money ; regulation ; social control |
| Date: | 2014–01–03 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:halshs-00957598&r=pke |