the theory of the firm an overview of the economic mainstream routledge studies in the history of economics

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The Theory Of The Firm

Author : Paul Walker
ISBN : 9781317277026
Genre : Business & Economics
File Size : 62. 58 MB
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Firms are a ubiquitous feature of the economic landscape, with much of the activity undertaken within an economy taking place within their boundaries. Given the size of the contribution made by firms to economic activity, employment and growth, having a theoretical understanding of the nature and structure of firms is crucial for understanding how an economy functions. The Theory of the Firm firstly offers a brief overview of the past, consisting of a concise discussion of the classical view of production, followed by an outline of the development of the neoclassical - or ‘textbook’ - approach to firm level production. Secondly, the ‘present’ of the theory of the firm is discussed in three sections. The first section considers the post-1970 theory of the firm literature per se, while the second section scrutinises the relationship between the three most prominent of the modern sets of theories: the reference point, property rights and transaction cost approaches. The third section looks at the theory of privatisation. The unique aspects of this book includes its discussions of the post-1970 contributions to the theory of the firm; the integration of the theory of the entrepreneur with the theory of the firm; and the theory of privatisation. This volume offers an intuitive introduction to the theories of the firm as well as simple formal models of the most important contributions to the literature. It also outlines the historical evolution of the traditional and modern theories of the firm. This book is of great interest to those who study history of economic thought, industrial economics and organizational studies.

Business Cycles In Economic Thought

Author : Alain Alcouffe
ISBN : 9781317207788
Genre : Business & Economics
File Size : 45. 7 MB
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Business Cycles in Economic Thought underlines how, over the time span of two centuries, economic thought interacted with cycles in a continuous renewal of theories and rethinking of policies, whilst economic actions embedded themselves into past economic thought. This book argues that studying crises and periods of growth in different European countries will help to understand how different national, political and cultural traditions influenced the complex interaction of economic cycles and economic theorizing. The editors of this great volume bring together expert contributors consisting of economists, historians of economic thought and historians of economics, to analyse crises and theories of the nineteenth and the twentieth century. This is alongside a comprehensive outlook on the most relevant advances of economic theory in France, Germany and Italy, as well as coverage of non-European countries, such as the United States. Several of the highly prestigious Villa Vigoni Trilateral Conferences formed the background for the discussions in this book. This volume is of great interest to students and academics who study history of economic thought, political economy and macroeconomics.

Jean Baptiste Say And Political Economy

Author : Jean-Baptiste Say
ISBN : 9781317912286
Genre : Business & Economics
File Size : 60. 65 MB
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Jean-Baptiste Say (1767–1832) was one of the first great economists to have laid down the foundations of economic science. Author of the famous Treatise on Political Economy in 1803, which was revised and re-edited on several occasions, he published numerous other works including a voluminous Complete Course in Practical Political Economy in 1828–9. He also taught political economy successively from 1815 until his death in three Parisian establishments: the Athénée, the Conservatory of Arts and Trades, and the Collège de France. The texts in which Say exposes his approach to political economy have not been available in the English language until now except for the fourth edition of the ‘Preliminary Discourse’ which serves as an introduction to the Treatise. This book presents a translation which renders his works accessible to the English speaking world. For the first time, English readers will be able to become directly immersed in Say’s principal texts, where he develops his conception of political economy. Jean-Baptiste Say and Political Economy proposes a translation of a selection of eleven of Say’s texts. The first three are versions of the ‘Preliminary Discourse’ from the Treatise’s editions of 1803, 1814 and 1826 with the variations of the editions of 1817, 1819 and 1841. The following four texts are the opening discourses pronounced at the Conservatory in 1820 and 1828 and the Collège de France in 1831 and 1832. The eighth text is the ‘General Considerations’ which open the Complete Course in Practical Political Economy of 1828, with the variations of the 1840 re-edition. The final three texts are those Say devotes to ‘the progress of political economy’ in what is akin to a history of economic thought. This volume is of great importance to economic historians and people studying Jean-Baptiste Say, as well as those who are interested in economic theory and philosophy and political economy.

A Brief Prehistory Of The Theory Of The Firm

Author : Paul Walker
ISBN : 9781351041379
Genre : Business & Economics
File Size : 29. 18 MB
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The theory of the firm did not exist, in any serious manner, until around 1970. Only then did the current theory of the firm literature begin to emerge, based largely upon the work of Ronald Coase and to a lesser degree Frank Knight. It was work by Armen Alchian, Robert Crawford, Harold Demsetz, Michael Jensen, Benjamin Klein, William Meckling and Oliver Williamson, among others, that drove the upswing in interest in the firm among mainstream economists. This accessible book provides a valuable overview of the ‘prehistory’ of the firm. Spanning an impressive timeline, it delves into Antiquity, the Medieval era, the pre-classical economics period and the 19th and 20th centuries. Next, the book traces the theoretical contributions from pre-classical, classical and neoclassical economics. It will be illuminating reading for students and researchers of the history of economic thought, industrial organization, microeconomic theory and business history.

The Origins Of Neoliberalism

Author : Giandomenica Becchio
ISBN : 9781317909347
Genre : Business & Economics
File Size : 49. 22 MB
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Neoliberalism is a doctrine that adopts a free market policy in a deregulated political framework. In recent years, neoliberalism has become increasingly prominent as a doctrine in Western society, and has been heavily discussed in both academia and the media. In The Origins of Neoliberalism, the joint effort of an economist and a philosopher offers a theoretical overview of both neoliberalism’s genesis within economic theory and social studies as well as its development outside academia. Tracing the sources of neoliberalism within the history of economic thought, the book explores the differences between neoliberalism and classical liberalism. This book’s aim is to make clear that neoliberalism is not a natural development of the old classical liberalism, but rather that it represents a dramatic alteration of its original nature and meaning. Also, it fights against the current idea according to which neoliberalism would coincide with the triumph of free market economy. In its use of both history of economics and philosophy, this book takes a highly original approach to the concept of neoliberalism. The analysis presented here will be of great interest to scholars and students of history of economics, political economy, and philosophy of social science.

Comparisons In Economic Thought

Author : Stavros A. Drakopoulos
ISBN : 9781317531562
Genre : Business & Economics
File Size : 73. 26 MB
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The idea of comparing rewards with others has a long and persistent presence in the social sciences, and can be found in many psychological, social and managerial theories. In economics, this idea can be traced back through the works of a substantial number of eminent thinkers, from Genovesi and Hume, to Smith, Ricardo, Marx, and Mill, through to Veblen, Pigou, and Keynes. In the last two decades the notion of social comparisons has started to appear more frequently in economic literature, especially in the subfield of happiness research. There are also signs that the notion has resurfaced in some strands of literature such as positional concerns, social identity models and social capital theory. Comparisons in Economic Thought offers a uniquely comprehensive account of how social comparisons have featured in the history of economic thought. This book provides an assessment as to why social comparisons have been dismissed by mainstream economists and considers their current and future usefulness. This volume is suitable for those who are interested and study history of economic thought, economic methodology and History of Consumer Theory, as well as Rational Choice Theory.

Reconstructing Political Economy

Author : William K. Tabb
ISBN : 9781134621644
Genre : Business & Economics
File Size : 88. 83 MB
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This volume offers an original perspective on the questions the great economists have asked and looks at their significance for todays world. Written in a provocative and accessible style, it examines how the diverse traditions of political economy have conceptualised economic issues, events and theory. Going beyond the orthodoxies of mainstream economics it shows the relevance of political economy to the debates on the economic meaning of our times. Reconstructing Political Economy is a timely and thought-provoking contribution to a political economy for our time. In this light it offers fresh insights into such issues as modern theories of growth, the historic relations between state and market and the significance of globalisation for modern societies.

Reclaiming Pluralism In Economics

Author : Jerry Courvisanos
ISBN : 9781317359869
Genre : Business & Economics
File Size : 82. 6 MB
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Until the end of the early 1970s, from a history of economic thought perspective, the mainstream in economics was pluralist, but once neoclassical economics became totally dominant it claimed the mainstream as its own. Since then, alternative views and schools of economics increasingly became minorities in the discipline and were considered ‘heterodox’. This book is in honour of John Edward King who has an impressive publication record in the area of economic theory with specific interest in how economic thought in the past shapes current economic theory and enforces certain paths of economic policy and economic development. This book is divided into five themes based on King’s interests. The first theme looks at the challenge in trying to reclaim pluralism in economics. The second faces head-on the direct collision of mainstream economics with history of economic thought and heterodox economics. The third addresses classical economic ideas, their central influence in the past and how they can still primarily guide modern pluralist economics. The fourth examines Post Keynesian and Kaleckian economics with a view to providing a more coherent and extensive branch of heterodox economics. The final theme critiques the policy of neoliberalism that has entrenched itself in capitalist economies which have led to financial, industrial, labour, and behavioural/consumerist crises. This text aims to provide a clear path for pluralism to serve the economics discipline as its standard bearer, and to no longer be merely a heterodox challenge to the mainstream. This book is of interest to those who study history of economic thought, political economy and heterodox economics.

New Essays On Pareto S Economic Theory

Author : Luigino Bruni
ISBN : 9781134105175
Genre : Business & Economics
File Size : 68. 53 MB
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Pareto's Manual of Political Economy, first published in 1905, introduced the analytical approach which has characterised a significant part of twentieth century economic theory. In particular, the Manual examined the ordinal representation of the individual choice, the issue of the general economic equilibrium and the Pareto optimality criterion for evaluating economic efficiency. The Manual also contained analyses of production, non-linear prices, non-competitive markets and the competition process, which have not yet been fully developed in modern mainstream economics. Based on Pareto’s groundbreaking ‘Manuale di Economia Politica’, this edited collection brings together a selection of essays from some of the most authoritative scholars of Pareto, who discuss the relevance of Pareto’s economics in the context of the present theoretical debate.

The German Historical School And European Economic Thought

Author : José Luís Cardoso
ISBN : 9781317378808
Genre : Business & Economics
File Size : 77. 30 MB
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The financial crisis of 2008 has revived interest in economic scholarship from a historical perspective. The most in depth studies of the relationship between economics and history can be found in the work of the so-called German Historical School (GHS). The influence of the GHS in the USA and Britain has been well documented, but far less has been written on the rest of Europe. This volume studies the interconnection between economic thought and economic policy from the mid-nineteenth century to the interwar period. It examines how the School’s ideas spread and was interpreted in different European countries between 1850 and 1930, analysing its legacies in these countries. In doing so, the book is able to trace the interconnection between economic thought and economic policy, adding new voices to the debate on the diffusion of ideas and flow of knowledge. This book identifies issues related to topics such as nationalism and cosmopolitanism in the history of ideas and clarifies themes in policy making that are still currently debated. These include monetary policy and benefits of free trade for all parties involved in international exchanges. This book will be of a great interest to those who study history of economic thought, economic theory and political economy.

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