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on Post Keynesian Economics |
| By: | Graham White |
| Abstract: | The paper considers three aspects of Joan Robinson’s writings all of which have a link to concern for the treatment of time and history in economic analysis. The first aspect is Robinson’s view of the significance of the capital-theoretic critique of orthodoxy, a critique in which she played a significant role. The second aspect relates to her concerns about the use of equilibrium in economic analysis and particularly the concept of long-period equilibrium. The third aspect is Robinson’s view of the significance of Sraffa’s Production of Commodities, and particularly as part of the positive side of the critique of orthodoxy; in particular, its potential role in an alternative non-marginalist approach. As such, the discussion inevitably to turns to the tension between Robinson’s views and those of the Sraffian camp, noting however that the possibility of some common ground remains open. stabilization policy tool by influencing the velocity. |
| Keywords: | Capital; time; equilibrium; Robinson; Sraffa |
| Date: | 2023–10 |
| URL: | http://d.repec.org/n?u=RePEc:syd:wpaper:2023-07&r=pke |
| By: | Nina Banks |
| Abstract: | Economist Nina Banks reveals her own work and the work by Sadie T.M. Alexander, the first Black American to receive a doctorate in economics. |
| Keywords: | women in economics; Black women in economics |
| Date: | 2022–01–17 |
| URL: | http://d.repec.org/n?u=RePEc:fip:l00001:94067&r=pke |
| By: | Graham White |
| Abstract: | The paper sets out a multi-commodity model of demand-led growth which can serve as a basis for simulation. Following Franke (2017), attention is initially on the calibration of key parameters, in particular, sectoral capital to output ratios consistent with reported estimates of the aggregate output to capital ratio. The key complexity arises from the influence of relative prices on the measured aggregate ratio and the lower limits on sectoral capital-output ratios consistent with that measure on the one hand combined with upper limits required for stability. The paper proceeds with a set of sectoral ratios as small as possible but consistent with measurement of the aggregate output-capital ratio. The model is then used to simulate responses to an autonomous demand shock in two different settings; where autonomous demand before and after the shock grows at a constant rate; and where its rate of growth is subject to random fluctuations and the shock is to its mean rate of growth. The simulation results in turn allow for a discussion of two key issues in the modelling of demand-led growth: the significance of autonomous demand including in the formation of expectations; and, the long-run convergence of utilization towards a normal rate. |
| Keywords: | Demand-led growth; calibration; utilization |
| Date: | 2023–10 |
| URL: | http://d.repec.org/n?u=RePEc:syd:wpaper:2023-08&r=pke |
| By: | Julien Salama (IEP Lille - Sciences Po Lille - Institut d'études politiques de Lille - Université de Lille) |
| Keywords: | post-growth, post-growth state, state, growth dependency |
| Date: | 2023–10–18 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-04280023&r=pke |
| By: | Chassonnery-Zaïgouche, Cléo (University of Lausanne); Goutsmedt, Aurélien (UC Louvain - F.R.S-FNRS) |
| Abstract: | Elisabeth Popp Berman’s Thinking Like an Economist unfolds a captivating and detailed historical account of the rise of economics and economists’ influence within the US Administration during the 1960s and 1970s. This transformation played a pivotal role in reshaping American policy, Berman argues. At the core of her story is the concept of an “economic style of reasoning”, inspired by Ian Hacking’s (1994) work. Berman’s “economic style of reasoning” describes a distinct approach to policy problems, one anchored in microeconomic concepts (rather than macroeconomic ones) such as incentives, externalities, and efficiency. Crucially, the “economic style of reasoning” does not designate what some economists think, but rather, a set of ideas, related to economics but not completely overlapping with it, that are used in policy—not only by economists. Throughout 230 pages, Berman masterfully traces the progressive ascension of the economic style of reasoning within US administration, from its rise in the 1960s to its relative decline during the Reagan Presidency. “Efficiency” as a policy criterion gradually supplanted other foundational values that had long justified policy actions, values such as “rights, universalism, equity, and limiting corporate power” (4). These concepts were actually loosely used by the actors Berman is interested in. Berman posits that the dissemination of this style of reasoning exerted a profound influence by eroding the legitimacy of policy propositions rooted in alternative values, notably those championed by the left-wing of the Democratic party. One strength of the book is to show how the economic style of reasoning stuck and consolidated, even in the absence of economists, and how unusual suspects—center-left technocrats, favoring government intervention—were responsible for promoting a sense of ineluctability of its use. |
| Date: | 2023–11–03 |
| URL: | http://d.repec.org/n?u=RePEc:osf:socarx:bs9xd&r=pke |
| By: | Yolande Francois (ISEOR - Institut de Socio-économie des Entreprises et des ORganisations - Institut de socio-économie des entreprises et des organisations) |
| Abstract: | This article examines the contribution of philosophy to ethical corporate finance and identifies ethical challenges it faces. Philosophy can provide normative frameworks and tools for evaluating and justifying financial decisions and practices, as well as developing ethical competencies for finance professionals. Ethical challenges include conflicts of interest, manipulation and fraud, corporate social responsibility, corporate governance, and financial innovation. This study highlights the need for a thoughtful and integrated approach to address these ethical challenges. |
| Abstract: | Cet article examine l'apport de la philosophie à la finance d'entreprise éthique et identifie les défis éthiques auxquels elle est confrontée. La philosophie peut fournir des cadres normatifs et des outils pour évaluer et justifier les décisions et les pratiques financières, ainsi que pour développer les compétences éthiques des professionnels de la finance. Les défis éthiques incluent les conflits d'intérêts, la manipulation et la fraude, la responsabilité sociale des entreprises, la gouvernance d'entreprise et l'innovation financière. Cette étude met en évidence la nécessité d'une approche réfléchie et intégrée pour résoudre ces défis éthiques. Mots clés : Finance d'entreprise éthique, responsabilité sociale des entreprises, conflits d'intérêts, gouvernance d'entreprise, philosophie. |
| Keywords: | Ethical corporate finance corporate social responsibility conflicts of interest corporate governance philosophy, Ethical corporate finance, corporate social responsibility, conflicts of interest, corporate governance, philosophy, RSE, Comportement organisationnel, Philosophie, Conflit d'intérêt, éthique des affaires |
| Date: | 2023–07–04 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-04267987&r=pke |
| By: | Kouam, Henri; Mua, kingsley |
| Abstract: | This paper presents the theory of innovation in attaining economic sciences. It equally reviews economic literature and investigates creation from different economic models. It begins with analyzing views on classical economics, including Adam Smith and David Ricardo. This is followed by discussions on theory in innovation today, as handled in the knowledge-based economy. Analyzing the achievements in economic thought outlines that innovation's importance and relevance have grown over the last decade. |
| Keywords: | Innovation, Economics, Development, Theory, Economic Growth, |
| JEL: | B1 B12 B22 O3 O40 |
| Date: | 2023–03–07 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:119162&r=pke |