[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 2023‒12‒11
papers chosen by
Erik Thomson <http://econpapers.repec.org/RAS/pth72.htm>,
University of Manitoba <http://umanitoba.ca/>
------------------------------
1. Richard A. Posner: From Public Choice Theory to Economic Analysis of
Law (1969-1973)
<https://mail.google.com/mail/u/0/#m_6524759958116227524_p1> By Sophie
Harnay
<http://econpapers.repec.org/scripts/search.pf?aus=Sophie%20Harnay>
2. Development of Innovation in Economic
<https://mail.google.com/mail/u/0/#m_6524759958116227524_p2> By Kouam,
Henri <http://econpapers.repec.org/scripts/search.pf?aus=Kouam,%20Henri>
; Mua, kingsley
<http://econpapers.repec.org/scripts/search.pf?aus=Mua,%20kingsley>
3. Symposium on Elisabeth Popp Berman’s Thinking Like an Economist. How
Efficiency Replace Equality in U.S. Public Policy
<https://mail.google.com/mail/u/0/#m_6524759958116227524_p3> By
Chassonnery-Zaïgouche,
Cléo
<http://econpapers.repec.org/scripts/search.pf?aus=Chassonnery-Za%C3%AFgouche,%20Cl%C3%A9o>
; Goutsmedt, Aurélien
<http://econpapers.repec.org/scripts/search.pf?aus=Goutsmedt,%20Aur%C3%A9lien>
4. “[Don’t] let them have their leets”! Joan Robinson and her legacy for
heterodox economics
<https://mail.google.com/mail/u/0/#m_6524759958116227524_p4> By Graham
White <http://econpapers.repec.org/scripts/search.pf?aus=Graham%20White>
5. Uncovering the Contributions of Black Women to Economics
<https://mail.google.com/mail/u/0/#m_6524759958116227524_p5> By Nina
Banks <http://econpapers.repec.org/scripts/search.pf?aus=Nina%20Banks>
6. The Debauchery of Currency and Inflation: Chile, 1970-1973
<https://mail.google.com/mail/u/0/#m_6524759958116227524_p7> By Sebastian
Edwards
<http://econpapers.repec.org/scripts/search.pf?aus=Sebastian%20Edwards>
7. Lending of Last Resort in Monetary Unions: Differing Views of German
Economists in the 19th and 21st Centuries
<https://mail.google.com/mail/u/0/#m_6524759958116227524_p8> By Trautwein,
Hans-Michael
<http://econpapers.repec.org/scripts/search.pf?aus=Trautwein,%20Hans-Michael>
8. To change or not to change The evolution of forecasting models at the
Bank of England
<https://mail.google.com/mail/u/0/#m_6524759958116227524_p9> By Goutsmedt,
Aurélien
<http://econpapers.repec.org/scripts/search.pf?aus=Goutsmedt,%20Aur%C3%A9lien>
; Sergi, Francesco
<http://econpapers.repec.org/scripts/search.pf?aus=Sergi,%20Francesco>;
Cherrier,
Beatrice
<http://econpapers.repec.org/scripts/search.pf?aus=Cherrier,%20Beatrice>
; Claveau, François
<http://econpapers.repec.org/scripts/search.pf?aus=Claveau,%20Fran%C3%A7ois>
; Fontan, Clément
<http://econpapers.repec.org/scripts/search.pf?aus=Fontan,%20Cl%C3%A9ment>
; Acosta, Juan
<http://econpapers.repec.org/scripts/search.pf?aus=Acosta,%20Juan>
9. Is There a 'New Consensus' on Inequality?
<https://mail.google.com/mail/u/0/#m_6524759958116227524_p10> By Ferreira,
Francisco H. G.
<http://econpapers.repec.org/scripts/search.pf?aus=Ferreira,%20Francisco%20H.%20G.>
------------------------------
1. Richard A. Posner: From Public Choice Theory to Economic Analysis of
Law (1969-1973) <http://econpapers.repec.org/RePEc:afd:wpaper:2302>
By: Sophie Harnay
<http://econpapers.repec.org/scripts/search.pf?aus=Sophie%20Harnay>
(EconomiX
(UMR 7235), UPL, Université Paris Nanterre, CNRS, 200 avenue de la
République, 92001 Nanterre cedex, France)
Abstract: The aim of the article is to explore how Richard A. Posner
began to focus on judges and courts at the turn of the 1960s and early
1970s, when his focus had previously been mostly on regulation, antitrust
law, and administrative agencies. We argue that Posner’s writings during
this short period are critical to understanding his intellectual trajectory
as they are the source of the pioneering research program that would be
known as economic analysis of law a few years later. We thus emphasize the
continuity between Posner’s early work of the 1969-1973 period, mostly
inspired by public choice theory, and his later work, and show that the
former obviously paved the way for the latter.
Keywords: R. A. Posner, economic analysis of law, public choice,
judicial decision-making, regulation
JEL: B31 K2 K4
<http://econpapers.repec.org/scripts/search.pf?jel=B31%20K2%20K4>
Date: 2023–11
URL: http://d.repec.org/n?u=RePEc:afd:wpaper:2302&r=hpe
2. Development of Innovation in Economic
<http://econpapers.repec.org/RePEc:pra:mprapa:119162>
By: Kouam, Henri
<http://econpapers.repec.org/scripts/search.pf?aus=Kouam,%20Henri>; Mua,
kingsley
<http://econpapers.repec.org/scripts/search.pf?aus=Mua,%20kingsley>
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
<http://econpapers.repec.org/scripts/search.pf?jel=B1%20B12%20B22%20O3%20O40>
Date: 2023–03–07
URL: http://d.repec.org/n?u=RePEc:pra:mprapa:119162&r=hpe
3. Symposium on Elisabeth Popp Berman’s Thinking Like an Economist. How
Efficiency Replace Equality in U.S. Public Policy
<http://econpapers.repec.org/RePEc:osf:socarx:bs9xd>
By: Chassonnery-Zaïgouche, Cléo
<http://econpapers.repec.org/scripts/search.pf?aus=Chassonnery-Za%C3%AFgouche,%20Cl%C3%A9o>
(University
of Lausanne); Goutsmedt, Aurélien
<http://econpapers.repec.org/scripts/search.pf?aus=Goutsmedt,%20Aur%C3%A9lien>
(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=hpe
4. “[Don’t] let them have their leets”! Joan Robinson and her legacy for
heterodox economics
<http://econpapers.repec.org/RePEc:syd:wpaper:2023-07>
By: Graham White
<http://econpapers.repec.org/scripts/search.pf?aus=Graham%20White>
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=hpe
5. Uncovering the Contributions of Black Women to Economics
<http://econpapers.repec.org/RePEc:fip:l00001:94067>
By: Nina Banks
<http://econpapers.repec.org/scripts/search.pf?aus=Nina%20Banks>
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=hpeThe Debauchery
of Currency and Inflation: Chile, 1970-1973
<http://econpapers.repec.org/RePEc:nbr:nberwo:31890>
6.
By: Sebastian Edwards
<http://econpapers.repec.org/scripts/search.pf?aus=Sebastian%20Edwards>
Abstract: In this essay, I analyze Salvador Allende’s economic policies
in Chile during the early 1970s. I argue that the explosion of inflation
during his administration (above 1, 500% on a six-month annualized measure)
was predictable, and that the government’s response to it, through massive
and strict price controls, generated acute macroeconomic imbalances. I
postulate that the combination of runaway inflation, shortages, and black
markets generated major disaffection among the middle class and that that
unhappiness reduced the support for the Unidad Popular government.
JEL: E31 E40 E52 F38 F42
<http://econpapers.repec.org/scripts/search.pf?jel=E31%20E40%20E52%20F38%20F42>
Date: 2023–11
URL: http://d.repec.org/n?u=RePEc:nbr:nberwo:31890&r=hpe
7. Lending of Last Resort in Monetary Unions: Differing Views of German
Economists in the 19th and 21st Centuries
<http://econpapers.repec.org/RePEc:hhs:uuehwp:2022_001>
By: Trautwein, Hans-Michael
<http://econpapers.repec.org/scripts/search.pf?aus=Trautwein,%20Hans-Michael>
(Department
of Economics, Carl von Ossietzky Universität Oldenburg)
Abstract: The European Central Bank’s activities as lender of last
resort are especially controversial in Germany. The overriding concern of
the critics is an alleged tendency of creating moral hazard on the side of
public and private borrowers in the European Monetary Union. This contrasts
with the predominant views among German economists in the classical gold
standard era, when the newly founded German empire merged the many currency
areas in its realm into monetary union. Prominent experts and policy
advisors, such as Erwin Nasse, Adolph Wagner and Friedrich Bendixen, argued
that in view of the costs of system failures moral hazard ought not to be a
predominant consideration at times of crisis. In critical assessments of
the Currency vs. Banking debates in England, German commentators questioned
the credibility and sustainability of strict rules for monetary policy in
banking crises. Some even developed evolutionary views, in which monetary
integration is driven by financial markets and lending of last resort
becomes a constitutive characteristic of central banking, in particular in
the formation of a monetary union. This paper compares the older German
views about lending of last resort in monetary unions with the current
discourse and explores possible explanations for the differences.
Keywords: monetary union; banking crises; lending of last resort; gold
standard
JEL: B15 E58 F45 G01
<http://econpapers.repec.org/scripts/search.pf?jel=B15%20E58%20F45%20G01>
Date: 2022–02–01
URL: http://d.repec.org/n?u=RePEc:hhs:uuehwp:2022_001&r=hpe
8. To change or not to change The evolution of forecasting models at the
Bank of England <http://econpapers.repec.org/RePEc:osf:socarx:m2cet>
By: Goutsmedt, Aurélien
<http://econpapers.repec.org/scripts/search.pf?aus=Goutsmedt,%20Aur%C3%A9lien>
(UC
Louvain - F.R.S-FNRS); Sergi, Francesco
<http://econpapers.repec.org/scripts/search.pf?aus=Sergi,%20Francesco>;
Cherrier,
Beatrice
<http://econpapers.repec.org/scripts/search.pf?aus=Cherrier,%20Beatrice>
; Claveau, François
<http://econpapers.repec.org/scripts/search.pf?aus=Claveau,%20Fran%C3%A7ois>
; Fontan, Clément
<http://econpapers.repec.org/scripts/search.pf?aus=Fontan,%20Cl%C3%A9ment>
; Acosta, Juan
<http://econpapers.repec.org/scripts/search.pf?aus=Acosta,%20Juan>
Abstract: Why do policymakers and economists within a policymaking
institution choose to throw away a model and to develop an alternative one?
Why do they choose to stick to an existing model? This article contributes
to the literature on the history and philosophy of modelling by answering
these questions. It delves into the dynamics of persistence, change, and
building practices of macroeconomic modelling, using the case of
forecasting models at the Bank of England (1974-2014). Based on archives
and interviews, we document the multiple factors at play in model building
and model change. We identify three sets of factors: the agency of
modellers, institutional factors, and the material factor. Our
investigation shows the diversity of explanations behind the decision to
change a model: each time, model replacement resulted from a different
combination of the three types of factors.
Date: 2023–11–07
URL: http://d.repec.org/n?u=RePEc:osf:socarx:m2cet&r=hpe
9. Is There a 'New Consensus' on Inequality?
<http://econpapers.repec.org/RePEc:osf:socarx:cyw3d>
By: Ferreira, Francisco H. G.
<http://econpapers.repec.org/scripts/search.pf?aus=Ferreira,%20Francisco%20H.%20G.>
Abstract: Thirty years after the “Washington Consensus”, is there a new
policy consensus that addresses the problem of inequality? This paper
argues that there is widespread acceptance that multiple, interrelated and
mutually reinforcing inequalities exist – in income, wealth, education,
health, power, and recognition – and that these inequalities are generally
“too high”. There has also been a significant shift towards a shared view
that these inequalities matter, both intrinsically and because of their
instrumental effects on economic efficiency and political institutions.
There is much less consensus, perhaps surprisingly, on what the actual
levels of income inequality are, and there are common misperceptions about
their trends. In policy terms, there is something approaching a consensus
regarding the desirability of various “pre-distribution” policies, ranging
from early childhood development to investment in better teaching. In
certain quarters, there is also agreement that sharper antitrust
regulation, freer labor unions, and more progressive taxation is needed in
most countries. But much less is known about how to provide the poor with
genuine opportunities to break the cycle of intergenerational transmission
of disadvantage in a durable way. (Stone Center on Socio-Economic
Inequality Working Paper)
Date: 2023–11–08
URL: http://d.repec.org/n?u=RePEc:osf:socarx:cyw3d&r=hpe
------------------------------
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