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Author: Klaus Hennings
Publisher: Springer Science & Business Media
ISBN: 9400921810
Category : Business & Economics
Languages : en
Pages : 380
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Book Description
Warren J. Samuels Each book in this series explores the present status of its field in terms of where it is, how it got there, the existing tensions within the field, and something of how the field might develop in the future. Each book presumes that work in each field is neither settled nor unequivocal. Each book attempts to comprehend its field as an evolving, developmental process or set or efforts. This particular book, covering neoclassical economics, is the third of three in the field of the History of Economic Thought. The others are Pre-Classical Economic Thought, edited by S. Todd Lowry, and Classical Political Economy, edited by William O. Thweatt. Each one conducts the same kind of analysis as the others in the series, with the understanding that here we are dealing with the history of interpretation, rather than a substantive body of analysis of a certain aspect of the economy: for example, labor or international trade. (That understanding must be com plex and subtle, inasmuch as revision of interpretation of earlier ideas is part of the process-both cause and consequence-of re-analyzing the economy. ) In this group we are interested in how recent and contemporary writers have interpreted the history of economic thought differently, both among themselves and from earlier writers. 1 NEOCLASSICAL ECONOMIC lHEORY 2 Several topics must be discussed to place such work in perspective, in part as it is here applied to the history of the interpretation of neoclassical economics.
Author: Klaus Hennings
Publisher: Springer Science & Business Media
ISBN: 9400921810
Category : Business & Economics
Languages : en
Pages : 380
Get Book Here
Book Description
Warren J. Samuels Each book in this series explores the present status of its field in terms of where it is, how it got there, the existing tensions within the field, and something of how the field might develop in the future. Each book presumes that work in each field is neither settled nor unequivocal. Each book attempts to comprehend its field as an evolving, developmental process or set or efforts. This particular book, covering neoclassical economics, is the third of three in the field of the History of Economic Thought. The others are Pre-Classical Economic Thought, edited by S. Todd Lowry, and Classical Political Economy, edited by William O. Thweatt. Each one conducts the same kind of analysis as the others in the series, with the understanding that here we are dealing with the history of interpretation, rather than a substantive body of analysis of a certain aspect of the economy: for example, labor or international trade. (That understanding must be com plex and subtle, inasmuch as revision of interpretation of earlier ideas is part of the process-both cause and consequence-of re-analyzing the economy. ) In this group we are interested in how recent and contemporary writers have interpreted the history of economic thought differently, both among themselves and from earlier writers. 1 NEOCLASSICAL ECONOMIC lHEORY 2 Several topics must be discussed to place such work in perspective, in part as it is here applied to the history of the interpretation of neoclassical economics.
Author: Stephen A. Ross
Publisher: Princeton University Press
ISBN: 1400830206
Category : Business & Economics
Languages : en
Pages : 120
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Book Description
Neoclassical Finance provides a concise and powerful account of the underlying principles of modern finance, drawing on a generation of theoretical and empirical advances in the field. Stephen Ross developed the no arbitrage principle, tying asset pricing to the simple proposition that there are no free lunches in financial markets, and jointly with John Cox he developed the related concept of risk-neutral pricing. In this book Ross makes a strong case that these concepts are the fundamental pillars of modern finance and, in particular, of market efficiency. In an efficient market prices reflect the information possessed by the market and, as a consequence, trading schemes using commonly available information to beat the market are doomed to fail. By stark contrast, the currently popular stance offered by behavioral finance, fueled by a number of apparent anomalies in the financial markets, regards market prices as subject to the psychological whims of investors. But without any appeal to psychology, Ross shows that neoclassical theory provides a simple and rich explanation that resolves many of the anomalies on which behavioral finance has been fixated. Based on the inaugural Princeton Lectures in Finance, sponsored by the Bendheim Center for Finance of Princeton University, this elegant book represents a major contribution to the ongoing debate on market efficiency, and serves as a useful primer on the fundamentals of finance for both scholars and practitioners.
Author: Richard D. Wolff
Publisher: MIT Press
ISBN: 0262517833
Category : Business & Economics
Languages : en
Pages : 425
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Book Description
A systematic comparison of the 3 major economic theories—neoclassical, Keynesian, and Marxian—showing how they differ and why these differences matter in shaping economic theory and practice. Contending Economic Theories offers a unique comparative treatment of the three main theories in economics as it is taught today: neoclassical, Keynesian, and Marxian. Each is developed and discussed in its own chapter, yet also differentiated from and compared to the other two theories. The authors identify each theory's starting point, its goals and foci, and its internal logic. They connect their comparative theory analysis to the larger policy issues that divide the rival camps of theorists around such central issues as the role government should play in the economy and the class structure of production, stressing the different analytical, policy, and social decisions that flow from each theory's conceptualization of economics. Building on their earlier book Economics: Marxian versus Neoclassical, the authors offer an expanded treatment of Keynesian economics and a comprehensive introduction to Marxian economics, including its class analysis of society. Beyond providing a systematic explanation of the logic and structure of standard neoclassical theory, they analyze recent extensions and developments of that theory around such topics as market imperfections, information economics, new theories of equilibrium, and behavioral economics, considering whether these advances represent new paradigms or merely adjustments to the standard theory. They also explain why economic reasoning has varied among these three approaches throughout the twentieth century, and why this variation continues today—as neoclassical views give way to new Keynesian approaches in the wake of the economic collapse of 2008.
Author: Jamie Morgan
Publisher: Routledge
ISBN: 1317334523
Category : Business & Economics
Languages : en
Pages : 337
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Book Description
Despite some diversification modern economics still attracts a great deal of criticism. This is largely due to highly unrealistic assumptions underpinning economic theory, explanatory failure, poor policy framing, and a dubious focus on prediction. Many argue that flaws continue to owe much of their shortcomings to neoclassical economics. As a result, what we mean by neoclassical economics remains a significant issue. This collection addresses the issue from a new perspective, taking as its point of departure Tony Lawson’s essay ‘What is this ‘school’ called neoclassical economics?’. Few terms are as controversial for pluralist and heterodox economists as neoclassical economics. This controversy has many aspects because the term itself has different specifications and connotations. Within this multiplicity what we mean by neoclassical matters to pluralist and heterodox economists for two primary reasons. First, because it informs how we view and critique the mainstream; second, because the relationship between heterodox and mainstream economics influences how heterodox economists model, apply methods and construct theory. The chapters in this collection each have different things to say about these matters, with contributions ranging across the work of key thinkers, such as Thorstein Veblen and Kenneth Arrow, applied issues of non-linear modelling of dynamic systems, and key events in the history of economics. This book will be of use to those interested in methodology, political economy, heterodoxy, and the history of economic thought.
Author: Anthony Endres
Publisher: Routledge
ISBN: 113474448X
Category : Business & Economics
Languages : en
Pages : 296
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Book Description
Carl Menger, Friedrich Wieser and Eugen Bohm-Bawerk are acknowledged as pioneers in the development of neoclassical economics, as well as being recognized as the founders of the Austrian School of Economics. Neoclassical Microeconomic Theory examines their contribution and compares it with the other branches of neoclassical economics that emerged b
Author: David C. Colander
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 296
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Book Description
Based on papers originally presented at the Christian A. Johnson Conference on Economic Affairs held in Middlebury, Vermont, in April 1983.Includes index. Bibliography: p. 241-253.
Author: Steven E. Lobell
Publisher: Cambridge University Press
ISBN: 1139475746
Category : Political Science
Languages : en
Pages : 323
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Book Description
Neoclassical realism is an important approach to international relations. Focusing on the interaction of the international system and the internal dynamics of states, neoclassical realism seeks to explain the grand strategies of individual states as opposed to recurrent patterns of international outcomes. This book offers the first systematic survey of the neoclassical realist approach. The editors lead a group of senior and emerging scholars in presenting a variety of neoclassical realist approaches to states' grand strategies. They examine the central role of the 'state' and seek to explain why, how, and under what conditions the internal characteristics of states intervene between their leaders' assessments of international threats and opportunities, and the actual diplomatic, military, and foreign economic policies those leaders are likely to pursue.
Author: Maiko Ichihara
Publisher: Routledge
ISBN: 1317351886
Category : Political Science
Languages : en
Pages : 141
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Book Description
Japan has increasingly emphasized democracy assistance since the mid-2000s, such that it now constitutes a major part of Japan’s foreign policy. This approach is an ostensible departure from the country’s traditional foreign policy stance, which tries to avoid bringing values to the forefront of foreign policies. This book intends to answer the questions of why Japan has started emphasizing democracy assistance and why it has relegated itself to a minor role in democracy assistance nevertheless. It argues that Japan’s emphasis on democracy assistance reveals its intention to increase its political influence with regards to China based on democratic values, and its usage of the term "democracy assistance" is a performative speech act to orchestrate a comprehensive approach for international democracy support. Shedding light on the novel aspect of Japanese policy, this book contributes to the understanding of Japanese foreign policy and democracy promotion. Providing the analysis that state’s speech act could cause to create foreign policies that counter what is predicted by structural realism, this analysis makes contributions to neoclassical realism which explains states’ foreign policy choices within the constraints of international structure.
Author: Daniel A. Dombrowski
Publisher: Cambridge University Press
ISBN: 1139457144
Category : Philosophy
Languages : en
Pages : 12
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Book Description
In recent years, the ontological argument and theistic metaphysics have been criticised by philosophers working in both the analytic and continental traditions. Responses to these criticisms have primarily come from philosophers who make use of the traditional, and problematic, concept of God. In this volume, Daniel A. Dombrowski defends the ontological argument against its contemporary critics, but he does so by using a neoclassical or process concept of God, thereby strengthening the case for a contemporary theistic metaphysics. Relying on the thought of Charles Hartshorne, he builds on Hartshorne's crucial distinction between divine existence and divine actuality, which enables neoclassical defenders of the ontological argument to avoid the familiar criticism that the argument moves illegitimately from an abstract concept to concrete reality. His argument, thus, avoids the problems inherent in the traditional concept of God as static.
Author: B. Hamminga
Publisher: Springer Science & Business Media
ISBN: 3642693490
Category : Business & Economics
Languages : en
Pages : 186
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Book Description
There are quite a lot of recent books on the methodology of economics, but all proceed from one or more of the following three fundamental assumptions: 1) Meta-apriorism: it is a priori believed that the results of the philosophy of science of the past decades, associated with the names of Popper, Kuhn and Lakatos, yield conceptual frameworks that can be used to describe the product of the economist's endeavours. 2) Synchronism: it is believed that the inspection of a "theory" of economics, the presentation of some economic belief at a point in time, reveals its logical structure and ipso facto the "method" by which the "theory" is constructed. 3) CreduZity: it is believed that what economists themselves say on their own methods is true, or at least of primary relevance. In this book, I endeavour to show that these assumptions are false. First, the philosophies of science by Popper, Kuhn and Lakatos did not succeed in constructing a conceptual framework capable of describing theory development in economics. Secondly, this can only be seen as soon as not Zogic but history is taken to be the referee judging the adequacy of metatheories (diachronism). Thirdly the results of metaempiricaZ (not-meta-aprioristic), diachronic (not-synchronic) research reveals that even economists themselves turn out frequently to have inadequate metatheories upon which it is dangerous to rely (suspicion instead of credulity) .
