nep-pke New Economics Papers
on Post Keynesian Economics
Issue of 2014‒04‒05
four papers chosen by
Karl Petrick
Western New England University

  1. Metaphors and Analogies in Institutional Economic Theory By Frolov, Daniil; Lavrentyeva, Anna
  2. Reform or Radicalism: Left Social Movements from the Battle of Seattle to Occupy Wall Street By Rowe, James K; Carroll, Myles
  3. Intellectual Property Rights, the Pool of Knowledge, and Innovation By Joseph E. Stiglitz
  4. How CBO Projects Income By Congressional Budget Office

  1. By: Frolov, Daniil; Lavrentyeva, Anna
    Abstract: The article presents the critical review of physical and biological metaphors in the institutional economic theory. It is proved that physical (including mechanistic) analogies are most adequate for the associative characteristic of a statics and kinetics of institutional systems, and biological – for the figurative description of their evolution. Efficiency of use of metaphors and analogies from the most developed, vanguard areas of natural-science researches is shown.
    Keywords: metaphors, institutionalism, institutions, path dependence, vacuum, field, impurities, niche construction, transplantation, genetics, evolution
    JEL: B52
    Date: 2014
  2. By: Rowe, James K; Carroll, Myles
    Abstract: We examine two recent cases of relative Left success—the Battle of Seattle and Occupy Wall Street—and argue that in each case an effective dynamism between radical and reform wings drove gains. This analysis is not meant to deny political difference and hawk false unity. Instead we want to challenge the luxury of mutual dismissal with the actually existing benefits of movement dynamism. By dynamism we mean contributions arising from different activist wings and productively interacting to increase overall movement power. Our ultimate claim is that the North American Left will yield greater success by becoming more self-conscious about the concrete benefits of movement dynamism.
    Keywords: Life Sciences, Social and Behavioral Sciences, Reform, Revolution, Battle of Seattle, Occupy Wall Street, Social Movements, Left politics
    Date: 2014–03–01
  3. By: Joseph E. Stiglitz
    Abstract: The pace of innovation is related both to the level of investment in innovation and the pool of knowledge from which innovators can draw. Both of these are endogenous: Investments in innovations are affected by the pool of knowledge and the ability of firms to appropriate the returns to their innovative activity, itself affected by the intellectual property rights (IPR) regime. But as each firm engages in research, it both contributes to the pool, and takes out from it. The strength and design of IPR affects the extent to which any innovation adds to or subtracts from the pool of ideas that are available to be commercially exploited, i.e. to the technological opportunities. We construct the simplest possible general model to explore the resulting dynamics, showing that, under plausible conditions, stronger intellectual property rights may lead to a lower pace of innovation, and more generally, that long run effects may be the opposite of the short run effects.
    JEL: E61 H41 O3 O31 O32 O33 O34 O38
    Date: 2014–03
  4. By: Congressional Budget Office
    Abstract: Projections of income earned by individuals and businesses are an integral part of CBO's regular 10-year projections of the economy and a key component of its projections of federal revenues and outlays.
    Date: 2013–07–25

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