| on History and Philosophy of Economics |
| By: | Jean-Sébastien Lenfant (PRISM Sorbonne - Pôle de recherche interdisciplinaire en sciences du management - UP1 - Université Paris 1 Panthéon-Sorbonne) |
| Abstract: | Eugen Slutsky is well-known to any graduate student in economics for two landmark articles and two operational concepts bearing his name, one in the field of consumer and utility theory ("the Slutsky equation"), the other in the field of the theory of cycles, introducing autonomous and exogenous causes in the analysis of macroeconomic fluctuations ("the Slutsky-Yule effect"). Because of the historical and political circumstances he had to confront in Ukraine, and then in Russia and in the U.S.S.R. in the first half of 20th century, Slutsky was prevented from devoting himself fully to mathematical economics, and he only published a handful more of articles dealing with economics. Over the last twenty years, researchers in Europe, Ukraine and Russia have been involved in making his contributions to mathematics and economics better known. By now, we get a clearer picture of Slutsky's views on economics and we know his network of connections with Western scholars who contributed to draw attention to his work. This essay highlights Slutsky's lasting importance in economics, focusing on the fate of his major and lesser known works. |
| Keywords: | Slutsky equation,Economic cycles,Praxeology theory,Utility Theory |
| Date: | 2021 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:hal-03628273&r= |
| By: | Robert H. Scott (Monmouth University) |
| Abstract: | This paper examines Kenneth Boulding's (1910-1993) religious beliefs and argues he was one of the most prolific religious economists in the 20 th century. He was an enigmatic economist whose career spanned over six decades. He helped to establish the field of general systems and furthered peace studies and conflict and defense. His early work earned him the John Bates Clark medal in 1949. But behind Boulding's theoretical economics was a deep religious ideology. Strongly affected by World War I while growing up in Liverpool, England, Boulding became a lifelong pacifist. Raised Methodist, Boulding discovered Quakerism in high school. While Boulding published widely in the field of economics, he also published almost 100 articles in Quaker journals. Boulding's body of work in economics and Quakerism led to interesting crosspollination. His work on peace and conflict and defense were a direct result of his pacifism. Boulding's work shows deep concern for human betterment and prosperity that is seeped in his religious principles. |
| Keywords: | human betterment,Kenneth Boulding,pacifism,Quakers,Religious Society of Friends |
| Date: | 2022 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03541619&r= |
| By: | Alexandre Chirat; Michaël Assous; Olivier Brette; Judith Favereau |
| Abstract: | Surprisingly Simon’s activities at the Cowles commission remain largely unexplored; while Simon and the Cowles shared a twofold wish to operationalize economics and to formalize human decision making. This is also during his time at the Cowles commission that Simon produces his emblematic paper formalizing bounded rationality. Furthermore, Simon claims that his participation at the Cowles was decisive in his awarding of the Nobel Prize. The aim of the paper is to produce such scrutiny. As such the claim of the paper is that Simon’s relationship with the Cowles commission and its members was a bittersweet one. Indeed, such a collaboration started enthusiastically from both sides and ended surrounded by indifferences. We offer three explanations to this bittersweet relationship. First, both the Cowles and Simon shared a wish to formalize decision making problems; although, they had different conceptions about mathematical tools and the articulation between theory and empirics. Second, the irreconcilability of their conception of optimality threatened their common interest in operational research. Third, and more globally, Simon’s and the Cowles’s research agendas were not stabilized during this period explaining the enthusiastic phase as well as the cold one, once these two research agendas stabilized, but in different directions. The paper distinguishes four periods from 1947 to 1954 during Simon’s time at the Cowles. Each section of the paper deals in turn with one of these four periods. |
| Keywords: | Simon – Cowles Commission – Rationality – Optimization – Models |
| JEL: | B21 B40 C61 D01 D81 |
| Date: | 2022 |
| URL: | http://d.repec.org/n?u=RePEc:drm:wpaper:2022-11&r= |
| By: | Osuagwu, Eze Simpson |
| Abstract: | This paper argues that the Christian conception of Natural law is indispensable for the understanding of a coherent moral theory of the State. The paper discusses the Christian conception of Natural Law with a view to understanding a philosophical link with the moral theory of the State. The paper reveals that from the classical era of Plato and Aristotle through the medieval times of Thomas Aquinas, Natural law has been conceived to be divine. However, following the protestant reforms of Martin Luther and Richard Hooker through the early modern natural law theorists inclined to the social contract, the concept of natural law has been interpreted to mean a theory that runs contrary to the existence of written laws and as such needs to be modified to be accepted as a code of conduct for society. The paper concludes that the perceived influence of Natural Law on positive or coded law is rooted in conscience, which as Thomas Aquinas pointed out is based on reason or synderesis. |
| Keywords: | Natural Law; Moral Theory; Public Policy; Christian Kingship; Religious Reformation |
| JEL: | Z1 Z12 Z18 |
| Date: | 2021–01 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:112999&r= |
| By: | Kochetkov, Dmitry |
| Abstract: | Innovation is often perceived as an object of study in economics and management. However, the social and behavioural aspects of innovation acceptance are as important as the economics of the new product development. Based on the interdisciplinary perspective, the authors formulated their own definition of innovation for the purposes of this study. The authors consider innovation as a change in the way social action is conducted, entailing a wide range of social, economic, behavioural, and institutional changes. The variety of approaches gives rise to the need for a typology. J. Sundbo (1998) divided innovation into three groups depending on the aspect of the phenomenon: the theory of entrepreneurship; technological and social aspects; and the strategic aspect. Adopting the Sundbo conceptual framework, the authors supplemented and developed it based on the literature that appeared after 1998. The authors also added new directions at the second level of decomposition and the relationship between different aspects of innovation. In particular, attention was paid to such phenomena as open innovation, agile innovation, “helix” models, etc. Thus, the authors have developed a novel typology of innovations, which expands the theoretical knowledge in this field. |
| Date: | 2022–05–09 |
| URL: | http://d.repec.org/n?u=RePEc:osf:socarx:pv4zg&r= |
| the School of Economics and Finance of Massey University in New Zealand. |