[Selections by Humberto Barreto for SHOE list.]
nep-hpe <https://nep.repec.org/nep-hpe.html> New Economics Papers
<https://nep.repec.org/> on History and Philosophy of Economics
Issue of 2023‒11‒13
papers chosen by
Erik Thomson <http://econpapers.repec.org/RAS/pth72.htm>,
University of Manitoba <http://umanitoba.ca/>
------------------------------
1. Was Lucifer a Gambler? A Rational-Choice Hermeneutic of Peter Olivi’s
Treatise on Demons
<https://mail.google.com/mail/u/0/#m_-2012551217596573095_p1> By Azam,
Jean-Paul
<http://econpapers.repec.org/scripts/search.pf?aus=Azam,%20Jean-Paul>
2. A journal ranking based on central bank citations
<https://mail.google.com/mail/u/0/#m_-2012551217596573095_p2> By Raphael
Auer <http://econpapers.repec.org/scripts/search.pf?aus=Raphael%20Auer>;
Giulio
Cornelli
<http://econpapers.repec.org/scripts/search.pf?aus=Giulio%20Cornelli>;
Christian
Zimmermann
<http://econpapers.repec.org/scripts/search.pf?aus=Christian%20Zimmermann>
3. Inflation and growth in developing economies: A tribute to Professor
Thirlwall <https://mail.google.com/mail/u/0/#m_-2012551217596573095_p3>
By Nell, Kevin
<http://econpapers.repec.org/scripts/search.pf?aus=Nell,%20Kevin>
4. Stagnation and cycles in Marx’s Circuit of Capital
<https://mail.google.com/mail/u/0/#m_-2012551217596573095_p4> By Nikolaos
Chatzarakis
<http://econpapers.repec.org/scripts/search.pf?aus=Nikolaos%20Chatzarakis>
------------------------------
1. Was Lucifer a Gambler? A Rational-Choice Hermeneutic of Peter Olivi’s
Treatise on Demons <http://econpapers.repec.org/RePEc:tse:wpaper:128653>
By: Azam, Jean-Paul
<http://econpapers.repec.org/scripts/search.pf?aus=Azam,%20Jean-Paul>
Abstract: This paper presents an interpretation of the main arguments
used in Peter Olivi’s Treatise on Demons, published circa 1295 in Narbonne,
Languedoc, within a rational-choice framework. This book has been widely
praised as a landmark in the philosophical literature on personhood and
personal freedom, since it was (re)discovered about a century ago. In it,
Olivi discusses most of the relevant classical and medieval literature on
this topic before stating his own position. In the scholastic tradition,
the book does not make for easy reading. Moreover, it is evidently a “work
in progress”, as pointed out by the translator. Many paragraphs end with
“Ergo, etc.”, suggesting that he planned to add something, but could not
find time enough for that. He died in 1298, aged 50. This paper offers a
simple game-theoretic model aimed at articulating Olivi’s main arguments in
a consistent rational choice framework, supported by many quotes translated
from French into English by me. It suggests that the “fall of the devil” is
used as a parable on human freedom and agency, given a set of incentives
strategically chosen by “God” to minimize the number of “sinners”, with
some potential interference by “Lucifer”.
JEL: B11 B30 P48 Z12
<http://econpapers.repec.org/scripts/search.pf?jel=B11%20B30%20P48%20Z12>
Date: 2023–10–26
URL: http://d.repec.org/n?u=RePEc:tse:wpaper:128653&r=hpe
2. A journal ranking based on central bank citations
<http://econpapers.repec.org/RePEc:fip:fedlwp:97224>
By: Raphael Auer
<http://econpapers.repec.org/scripts/search.pf?aus=Raphael%20Auer>; Giulio
Cornelli
<http://econpapers.repec.org/scripts/search.pf?aus=Giulio%20Cornelli>;
Christian
Zimmermann
<http://econpapers.repec.org/scripts/search.pf?aus=Christian%20Zimmermann>
Abstract: We present a ranking of journals geared toward measuring the
policy relevance of research. We compute simple impact factors that count
only citations made in central bank publications, such as their working
paper series. Whereas this ranking confirms the policy relevance of the
major general interest journals in the field of economics, the major
finance journals fare less favourably. Journals specialising in monetary
economics, international economics and financial intermediation feature
highly, but surprisingly not those specialising in econometrics. The
ranking is topped by the Brookings Papers on Economic Activity, followed by
the Quarterly Journal of Economics and the Journal of Monetary Economics,
the American Economic Journal: Macroeconomics, and the Journal of Political
Economy.
Keywords: central banks; citations; academic journals; ranking
JEL: A11 E50 E58
<http://econpapers.repec.org/scripts/search.pf?jel=A11%20E50%20E58>
Date: 2023–10
URL: http://d.repec.org/n?u=RePEc:fip:fedlwp:97224&r=hpe
3. Inflation and growth in developing economies: A tribute to Professor
Thirlwall <http://econpapers.repec.org/RePEc:pra:mprapa:118757>
By: Nell, Kevin
<http://econpapers.repec.org/scripts/search.pf?aus=Nell,%20Kevin>
Abstract: This paper pays tribute to Professor Thirlwall’s substantive
work in growth and development economics by providing a review of his book
Inflation, Saving and Growth in Developing Economies (1974b) [hereafter
ISGD]. Indeed, the hallmark of a good economics book is whether its
theoretical content and empirical predictions made several decades ago
remain relevant when assessed against more recent evidence. Thirlwall’s
ISGD book exhibits all these qualities. It emphasises the importance of
distinguishing between different types of inflation. Structural inflation
and, to a lesser extent, cost inflation, should be seen as the inevitable
outcomes of the growth and development process, whereas demand inflation
may act as a direct stimulus to growth, as predicted by the
Kaldor-Thirlwall model of forced saving and the inflation tax model. These
theoretical insights remain highly relevant in today’s developing
economies. Studies tend to show that inflation thresholds, up until the
point where the effect of inflation on growth is positive, tend to be
higher in developing economies relative to advanced countries, owing to a
combination of structural, cost and demand-side sources of inflation. The
analysis further argues that inflationary finance of development, as
advanced in ISGD, remains a viable development strategy when open-economy
constraints are considered.
Keywords: Developing economies; inflation; investment; growth; saving;
Thirlwall; threshold
JEL: O11 O23 O47
<http://econpapers.repec.org/scripts/search.pf?jel=O11%20O23%20O47>
Date: 2023–09–01
URL: http://d.repec.org/n?u=RePEc:pra:mprapa:118757&r=hpe
4. Stagnation and cycles in Marx’s Circuit of Capital
<http://econpapers.repec.org/RePEc:new:wpaper:2310>
By: Nikolaos Chatzarakis
<http://econpapers.repec.org/scripts/search.pf?aus=Nikolaos%20Chatzarakis>
(Department
of Economics, New School for Social Research, USA)
Abstract: Marx’ circuit of capital describes the circular process of
transformation of money to commodities and of commodities to money, the
unified process of capital turnover from production to exchange. It becomes
the prime tool Marx used to analyze the process of labor, the reproduction
and accumulation of capital, and the possibility and actuality of crises in
the capitalist mode of production. In a paper in 1982 and two books is
1986, Foley formulated a mathematical model for the circuit of capital. In
the present work, we reformulate this model into a closed and autonomous
dynamical system and we proceed to analyze its phase space; not
surprisingly, this model resembles the famous epidemiological models, used
to describe a similar circular process for the spread of a disease. The
equilibrium points of the system reveal the cases for a ‘normal’ phase of
expansion, as well as for an ‘excess capital’ crisis; the shift of
stability from the one to the other reveals a possibility theory of crisis
as a secular stagnation process, while the shift from stability to cycles
reveals an actuality theory of short-run fluctuations due to ‘excess
commodities’ and ‘excess money’.
Keywords: Circuit of capital, capital accumulation, economic crisis,
financialization
Date: 2023–10
URL: http://d.repec.org/n?u=RePEc:new:wpaper:2310&r=hpe
------------------------------
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