[Selections by Humberto Barreto for SHOE list.]
nep-hpe <http://nep.repec.org/nep-hpe.html> New Economics Papers
<http://nep.repec.org/> on History and Philosophy of Economics
Issue of 2022‒11‒21
papers chosen by
Erik Thomson <http://econpapers.repec.org/RAS/pth72.htm>
University of Manitoba <http://umanitoba.ca/>
------------------------------
1. The New Speak and Economic Theory or How We Are Being Talked To
<https://mail.google.com/mail/u/0/#m_-1726753165789662734_p1> By Jean-Paul
Fitoussi
<http://econpapers.repec.org/scripts/search.pf?aus=Jean-Paul%20Fitoussi>
2. Tyranny, Blind Spot in the Humanities
<https://mail.google.com/mail/u/0/#m_-1726753165789662734_p2> By Andreu
Solé
<http://econpapers.repec.org/scripts/search.pf?aus=Andreu%20Sol%C3%A9>
3. Louis Bachelier's Théorie de la spéculation : The missing piece in
Walras' general equilibrium
<https://mail.google.com/mail/u/0/#m_-1726753165789662734_p3> By Nicole
El Karoui
<http://econpapers.repec.org/scripts/search.pf?aus=Nicole%20El%20Karoui>
; Antoine Parent
<http://econpapers.repec.org/scripts/search.pf?aus=Antoine%20Parent>;
Pierre-Charles
Pradier
<http://econpapers.repec.org/scripts/search.pf?aus=Pierre-Charles%20Pradier>
4. To Be or Not to Be: The Entrepreneur in Neo-Schumpeterian Growth
Theory <https://mail.google.com/mail/u/0/#m_-1726753165789662734_p4>
By Henrekson,
Magnus
<http://econpapers.repec.org/scripts/search.pf?aus=Henrekson,%20Magnus>;
Johansson,
Dan <http://econpapers.repec.org/scripts/search.pf?aus=Johansson,%20Dan>
; Karlsson, Johan
<http://econpapers.repec.org/scripts/search.pf?aus=Karlsson,%20Johan>
5. The Homer economics narrative: from cognitive psychology to
individual public policies
<https://mail.google.com/mail/u/0/#m_-1726753165789662734_p5> By Guilhem
Lecouteux
<http://econpapers.repec.org/scripts/search.pf?aus=Guilhem%20Lecouteux>
6. Diplomatic Stance of the Japanese Business Community in the First
World War: Focusing on relations with major warring nations and the concept
of economic alliance, in the middle of the war (Japanese)
<https://mail.google.com/mail/u/0/#m_-1726753165789662734_p6> By SAKAMOTO
Masazumi
<http://econpapers.repec.org/scripts/search.pf?aus=SAKAMOTO%20Masazumi>
7. Policy Advice of Economic Experts: Facts or Preferences?
<https://mail.google.com/mail/u/0/#m_-1726753165789662734_p7> By Gründler,
Klaus
<http://econpapers.repec.org/scripts/search.pf?aus=Gr%C3%BCndler,%20Klaus>
; Potrafke, Niklas
<http://econpapers.repec.org/scripts/search.pf?aus=Potrafke,%20Niklas>
8. Progress in Economics
<https://mail.google.com/mail/u/0/#m_-1726753165789662734_p8> By Marcel
Boumans
<http://econpapers.repec.org/scripts/search.pf?aus=Marcel%20Boumans>;
Catherine
Herfeld
<http://econpapers.repec.org/scripts/search.pf?aus=Catherine%20Herfeld>
9. Constructivist Grounded Theory: A New Research Approach in Social
Science <https://mail.google.com/mail/u/0/#m_-1726753165789662734_p9>
By Mohajan,
Devajit
<http://econpapers.repec.org/scripts/search.pf?aus=Mohajan,%20Devajit>;
Mohajan,
Haradhan
<http://econpapers.repec.org/scripts/search.pf?aus=Mohajan,%20Haradhan>
10. Financialisation and the potentials for a progressive equality-,
sustainability- and domestic demand-led regime: A post-Keynesian simulation
approach <https://mail.google.com/mail/u/0/#m_-1726753165789662734_p10>
By Hein, Eckhard
<http://econpapers.repec.org/scripts/search.pf?aus=Hein,%20Eckhard>; Prante,
Franz <http://econpapers.repec.org/scripts/search.pf?aus=Prante,%20Franz>
; Bramucci, Alessandro
<http://econpapers.repec.org/scripts/search.pf?aus=Bramucci,%20Alessandro>
11. Nobel and Novice: Author Prominence Affects Peer Review
<https://mail.google.com/mail/u/0/#m_-1726753165789662734_p11> By Jurgen
Huber <http://econpapers.repec.org/scripts/search.pf?aus=Jurgen%20Huber>
; Sabiou M. Inoua
<http://econpapers.repec.org/scripts/search.pf?aus=Sabiou%20M.%20Inoua>;
Rudolf
Kerschbamer
<http://econpapers.repec.org/scripts/search.pf?aus=Rudolf%20Kerschbamer>
; Christian Konig-Kersting
<http://econpapers.repec.org/scripts/search.pf?aus=Christian%20Konig-Kersting>
; Stefan Palan
<http://econpapers.repec.org/scripts/search.pf?aus=Stefan%20Palan>; Vernon
L. Smith
<http://econpapers.repec.org/scripts/search.pf?aus=Vernon%20L.%20Smith>
12. Misperceiving Economic Success: Experimental Evidence on
Meritocratic Beliefs and Inequality Acceptance
<https://mail.google.com/mail/u/0/#m_-1726753165789662734_p12> By Dietmar
Fehr <http://econpapers.repec.org/scripts/search.pf?aus=Dietmar%20Fehr>;
Martin
Vollmann
<http://econpapers.repec.org/scripts/search.pf?aus=Martin%20Vollmann>
13. Classical and Keynesian Models of Inequality and Stagnation
<https://mail.google.com/mail/u/0/#m_-1726753165789662734_p13> By Codrina
Rada <http://econpapers.repec.org/scripts/search.pf?aus=Codrina%20Rada>;
Daniele
Tavani
<http://econpapers.repec.org/scripts/search.pf?aus=Daniele%20Tavani>;
Rudiger
von Arnim
<http://econpapers.repec.org/scripts/search.pf?aus=Rudiger%20von%20Arnim>
; Luca Zamparelli
<http://econpapers.repec.org/scripts/search.pf?aus=Luca%20Zamparelli>
------------------------------
1. The New Speak and Economic Theory or How We Are Being Talked To
<http://econpapers.repec.org/RePEc:hal:wpaper:hal-03812818>
By: Jean-Paul Fitoussi
<http://econpapers.repec.org/scripts/search.pf?aus=Jean-Paul%20Fitoussi>
(ECON
- Département d'économie (Sciences Po) - Sciences Po - Sciences Po - CNRS -
Centre National de la Recherche Scientifique, LUISS - Libera Università
Internazionale degli Studi Sociali Guido Carli [Roma])
Abstract: This article seeks to show how the impoverishment of language
has changed the course of the evolution of economic theory, much as in 1984
the Newspeak changed the order of things and the course of the political
regime. At the origin of such an evolution was the stratagem to act as if
neoclassical theory was subsequent to Keynesian theory. The inversion of
the time arrow had far reaching consequences on the development of
economics. In great part the development of a science depends of the
scholars who practice it and of its teaching to the new researchers who
will further develop it. Both depend on the history of thought. The
consequences on economic policies have been major, especially in Europe. By
cancelling most of the Keynesian concepts from the Newspeak dictionary, the
relative weights of the market and the state were changed, which could only
lead to a preference for liberal, market- oriented, policies.
Date: 2022
URL: http://d.repec.org/n?u=RePEc:hal:wpaper:hal-03812818&r=hpe
2. Tyranny, Blind Spot in the Humanities
<http://econpapers.repec.org/RePEc:hal:journl:hal-03736172>
By: Andreu Solé
<http://econpapers.repec.org/scripts/search.pf?aus=Andreu%20Sol%C3%A9> (HEC
Paris - Ecole des Hautes Etudes Commerciales)
Abstract: What is the singularity of our society and, consequently, how
to name it? We first present a critique of three terms: liberalism,
capitalism and "neo-liberalism" which are associated with this society by
many researchers in the humanities and social sciences. We show that the
classical, non-authoritarian liberalism of Adam Smith is a utopia. As for
the word capitalism, it spreads a major confusion, that between market and
company. Concerning the "neo-liberalism" of Hayek and Friedman, we argue
that it is not liberalism. Then, we underline that our society is organized
by and for companies, allowing us to formulate the proposal to call it
"Enterprise-World". Finally, we highlight the tyranny - linked to the
company - specific to this society, and invite us to wonder why most
researchers in the humanities seem not to "see" it.
Abstract: Quelle est la singularité de notre société et, en conséquence,
comment la nommer ? Nous exposons d'abord une critique de trois termes : «
libéralisme », « capitalisme » et « néolibéralisme » qui sont associés à
cette société par beaucoup de chercheurs en sciences humaines. Nous
démontrons que le libéralisme classique, non autoritaire, d'Adam Smith est
une utopie. Quant au mot capitalisme, il diffuse une confusion majeure,
celle entre marché et entreprise. S'agissant du « néolibéralisme » de Hayek
et Friedman, nous faisons ressortir qu'il n'est pas du libéralisme.
Ensuite, nous soulignons que notre société est organisée par et pour les
entreprises, nous permettant de formuler la proposition de l'appeler «
Entreprise-Monde ». Enfin, nous mettons en lumière la tyrannie-liée à
l'entreprise-, spécifique de cette société, et invitons à se demander
pourquoi la plupart des chercheurs en sciences humaines semblent ne pas la
« voir ».
Keywords:
Liberalism,Neoliberalism,Capitalism,Company,Tyranny,Tyrannie,Libéralisme,Néolibéralisme,Capitalisme,Entreprise
Date: 2022–07–20
URL: http://d.repec.org/n?u=RePEc:hal:journl:hal-03736172&r=hpe
3. Louis Bachelier's Théorie de la spéculation : The missing piece in
Walras' general equilibrium
<http://econpapers.repec.org/RePEc:hal:journl:halshs-03815600>
By: Nicole El Karoui
<http://econpapers.repec.org/scripts/search.pf?aus=Nicole%20El%20Karoui>
(LPSM
(UMR_8001) - Laboratoire de Probabilités, Statistique et Modélisation - SU
- Sorbonne Université - CNRS - Centre National de la Recherche
Scientifique - UPCité - Université Paris Cité); Antoine Parent
<http://econpapers.repec.org/scripts/search.pf?aus=Antoine%20Parent> (LED
- Laboratoire d'Economie Dionysien - UP8 - Université Paris 8
Vincennes-Saint-Denis, OFCE - Observatoire français des conjonctures
économiques (Sciences Po) - Sciences Po - Sciences Po, CAC-IXXI, Complex
Systems Institute); Pierre-Charles Pradier
<http://econpapers.repec.org/scripts/search.pf?aus=Pierre-Charles%20Pradier>
(CES
- Centre d'économie de la Sorbonne - UP1 - Université Paris 1
Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique)
Abstract: We propose a revisited view of Louis Bachelier's contribution
to economic analysis. Conventional wisdom presents Bachelier as the
founding father of modern financial theory. We show that Bachelier's work
is constructed to respond to a gap in the Walrasian general equilibrium,
where the options market is verbosely introduced but not modeled. By
providing a price formation theory for the missing options market,
Bachelier undoubtedly presents himself as the heir apparent of the
mathematical economics tradition founded by Walras. Indeed, Bachelier's
methodological stance is clearly formed on the "rational method" of Walras,
proceeding by mathematical demonstration from postulates that we make
explicit. We show additionally how Walras and Bachelier in pre-WW2 France
reached to the same audience. We propose to name this augmented general
equilibrium model the Walras-Bachelier model of intertemporal general
equilibrium in the presence of risk. This theory prefigures the
Arrow-Debreu model, with some differences which we make clear.
Keywords: General equilibrium,Financial markets,Option
pricing,Bachelier,Walras
Date: 2022–10
URL: http://d.repec.org/n?u=RePEc:hal:journl:halshs-03815600&r=hpe
4. To Be or Not to Be: The Entrepreneur in Neo-Schumpeterian Growth
Theory <http://econpapers.repec.org/RePEc:iza:izadps:dp15605>
By: Henrekson, Magnus
<http://econpapers.repec.org/scripts/search.pf?aus=Henrekson,%20Magnus>
(Research
Institute of Industrial Economics); Johansson, Dan
<http://econpapers.repec.org/scripts/search.pf?aus=Johansson,%20Dan> (Örebro
University); Karlsson, Johan
<http://econpapers.repec.org/scripts/search.pf?aus=Karlsson,%20Johan>
(Jönköping
University, Sogang University)
Abstract: Based on a review of 700+ peer-reviewed articles since 1990,
identified using text mining methodology and supervised machine learning,
we analyze how neo-Schumpeterian growth theorists relate to the
entrepreneur-centered view of Schumpeter (1934) and the entrepreneurless
framework of Schumpeter (1942). The literature leans heavily towards
Schumpeter (1942); innovation returns are modeled as following an ex ante
known probability distribution. By assuming that innovation outcomes are
(probabilistically) deterministic, the entrepreneur becomes redundant.
Abstracting from genuine uncertainty, implies that central issues regarding
the economic function of the entrepreneur are overlooked such as the roles
of proprietary resources, skills, and profits.
Keywords: creative destruction, economic growth, entrepreneur,
innovation, judgment, Knightian uncertainty
JEL: B40 O10 O30
<http://econpapers.repec.org/scripts/search.pf?jel=B40%20O10%20O30>
Date: 2022–09
URL: http://d.repec.org/n?u=RePEc:iza:izadps:dp15605&r=hpe
5. The Homer economics narrative: from cognitive psychology to
individual public policies
<http://econpapers.repec.org/RePEc:hal:wpaper:hal-03791951>
By: Guilhem Lecouteux
<http://econpapers.repec.org/scripts/search.pf?aus=Guilhem%20Lecouteux> (UCA
- Université Côte d'Azur, GREDEG - Groupe de Recherche en Droit, Economie
et Gestion - UNS - Université Nice Sophia Antipolis (1965 - 2019) - COMUE
UCA - COMUE Université Côte d'Azur (2015-2019) - CNRS - Centre National de
la Recherche Scientifique - UCA - Université Côte d'Azur, COMUE UCA - COMUE
Université Côte d'Azur (2015-2019))
Abstract: A common narrative among some behavioural economists and
policy makers is that experimental psychology highlights that individuals
are more like Homer Simpson than the Mr Spock imagined by neoclassical
economics, and that this justifies policies aiming to ‘correct' individual
behaviours. This narrative is central to nudging policies and suggests that
a better understanding of individual cognition will lead to better policy
prescriptions. I argue that this Homer economicus narrative is
methodologically flawed, and that its emphasis on cognition advances a
distorted view of public policies consisting in fixing malfunctioning
individuals, while ignoring the possibly malfunctioning environment within
which they evolve.
Keywords: homo economicus,rational choice,replication
crisis,behaviourally informed policy
Date: 2022–09–29
URL: http://d.repec.org/n?u=RePEc:hal:wpaper:hal-03791951&r=hpe
6. Diplomatic Stance of the Japanese Business Community in the First
World War: Focusing on relations with major warring nations and the concept
of economic alliance, in the middle of the war (Japanese)
<http://econpapers.repec.org/RePEc:eti:rdpsjp:22038>
By: SAKAMOTO Masazumi
<http://econpapers.repec.org/scripts/search.pf?aus=SAKAMOTO%20Masazumi>
Abstract: The history of Japan's foreign relations during the First
World War can be thought of as having two currents: a diplomatic history
centered on the Asia-Pacific region, mainly in terms of Chinese interests
and relations with the United States connected with that history, and a
trade history which is described as the term of economic growth. However,
little attention has been paid to the relationship between the two, e.g.,
the business community's interests regarding Japan's foreign policy. The
analysis of the tone of the major economic newspapers in the mid-First
World War period and the trade chronology compiled by the Ministry of
Finance reveal that the business community had certain diplomatic interests
toward the major warring nations of the First World War, such as Britain,
Russia, and Germany, depending on their trade situation. At the same time,
they reveal that the business community had expressed significant concern
about the concept of the inter-Allied economic alliance, including a
postwar regime, and decoupling from antagonist countries, as discussed at
the Economic Conference of the Allies in 1916. The results suggest that
considering the intentions (interests) of the business community while
determining Japan's foreign policy is significant at a time when trade and
diplomacy are closely linked.
Date: 2022–10
URL: http://d.repec.org/n?u=RePEc:eti:rdpsjp:22038&r=hpe
7. Policy Advice of Economic Experts: Facts or Preferences?
<http://econpapers.repec.org/RePEc:zbw:vfsc22:264009>
By: Gründler, Klaus
<http://econpapers.repec.org/scripts/search.pf?aus=Gr%C3%BCndler,%20Klaus>
; Potrafke, Niklas
<http://econpapers.repec.org/scripts/search.pf?aus=Potrafke,%20Niklas>
JEL: A11 E62 H60 H63
<http://econpapers.repec.org/scripts/search.pf?jel=A11%20E62%20H60%20H63>
Date: 2022
URL: http://d.repec.org/n?u=RePEc:zbw:vfsc22:264009&r=hpe
8. Progress in Economics
<http://econpapers.repec.org/RePEc:use:tkiwps:2201>
By: Marcel Boumans
<http://econpapers.repec.org/scripts/search.pf?aus=Marcel%20Boumans>;
Catherine
Herfeld
<http://econpapers.repec.org/scripts/search.pf?aus=Catherine%20Herfeld>
Abstract: In this chapter, we discuss a specific kind of progress that
occurs in most branches of economics today: progress involving the repeated
use of mathematical models. We adopt a functional account of progress to
argue that progress in economics occurs through the use of what we call
“common recipes†and model templates for defining and solving problems
of relevance for economists. We support our argument by discussing the case
of 20th century business cycle research. By presenting this case study in
detail, we show how model templates are not only reapplied to different
phenomena. We also show how scientists first develop them and how, once
they are considered less useful, they are replaced with new ones. Finally,
our case also illustrates that it is not only the mathematical structure
that is reused but that such reuse also requires a shared conceptual vision
of the core properties of the phenomenon to be studied. If that vision is
no longer shared among economists, a model template can become useless and
has to be replaced, sometimes against resistance, with a different one.
Keywords: business cycle model, functional progress, model building,
template, transfer of knowledge
Date: 2022
URL: http://d.repec.org/n?u=RePEc:use:tkiwps:2201&r=hpe
9. Constructivist Grounded Theory: A New Research Approach in Social
Science <http://econpapers.repec.org/RePEc:pra:mprapa:114970>
By: Mohajan, Devajit
<http://econpapers.repec.org/scripts/search.pf?aus=Mohajan,%20Devajit>;
Mohajan,
Haradhan
<http://econpapers.repec.org/scripts/search.pf?aus=Mohajan,%20Haradhan>
Abstract: This article tries to explore the constructivist grounded
theory (CGT) in qualitative research. American sociologist Kathy Charmaz
has developed a new qualitative research field “Constructivist Grounded
Theory” for the first time in 2006. Constructivist grounded theory is a
qualitative research methodology that draws comparison between the ethical
principles of deontology, utilitarian and virtue ethics, and individuals
seek to understand the world in which they live and work. It is a popular
method for research studies mainly in psychology, education, and nursing.
In social sciences, it represents culture, context, literacy, personal
experiences, as well as application of knowledge. It also presents the
theoretical substructures of symbolic interactionism and constructivism.
Constructivism is used for research, learning, and teaching with peers.
There are various types of constructivism, such as social, psychological,
personal, radical, and contextual constructivism. On the other hand,
symbolic interactionism is the process of human interaction that provides
the meanings for the experiences through language, symbols, and social
interactions. This study tries to investigate how constructivist grounded
theory has developed in times from the original grounded theory of Glaser
and Strauss. The paper also tries to highlight characteristics,
application, and importance of constructivist grounded theory.
Keywords: Constructivist grounded theory, Charmaz, knowledge, social
science
JEL: A2 B54 D6 I25
<http://econpapers.repec.org/scripts/search.pf?jel=A2%20B54%20D6%20I25>
Date: 2022–07–19
URL: http://d.repec.org/n?u=RePEc:pra:mprapa:114970&r=hpe
10. Financialisation and the potentials for a progressive equality-,
sustainability- and domestic demand-led regime: A post-Keynesian simulation
approach <http://econpapers.repec.org/RePEc:zbw:ipewps:1922022>
By: Hein, Eckhard
<http://econpapers.repec.org/scripts/search.pf?aus=Hein,%20Eckhard>; Prante,
Franz <http://econpapers.repec.org/scripts/search.pf?aus=Prante,%20Franz>
; Bramucci, Alessandro
<http://econpapers.repec.org/scripts/search.pf?aus=Bramucci,%20Alessandro>
Abstract: In several publications, starting more than a decade ago,
Peter Flaschel and co-authors have outlined the features of a 'social
capitalism' as a normative alternative to the liberal and financialised
capitalism of the Anglo-Saxon type, but also to the undemocratic
Chinese-type of state capitalism. Theoretically and analytically, this
concept has been built on a MarxKeynes/Kalecki-Schumpeter approach to
macroeconomics. Our approach in this paper, based on
post-Keynesian/Kaleckian foundations and making use of a two-country
stock-flow consistent (SFC) simulation model, shares with Flaschel and
co-authors the search for an alternative to the liberal finance-dominated
capitalism which has dominated, to different degrees in different
countries, since the late 1970s/early 1980s and led to the 2007-09 crises.
On the one hand, our approach is narrower than the one by Flaschel and
co-authors, since we are explicitly in our model only focusing on demand
and growth regimes, as well as on macroeconomic policy regimes, but only
implicitly on innovations and structural change. On the other hand,
however, we shed light on different regimes in modern capitalism, their
interaction at the global scale, and then on the changes in regimes after
the 2007-09 crises. Finally, we present the main features of a progressive
and more stable equality-, sustainability- and domestic demand-led regime.
We believe that such a progressive regime is in the spirit of Flaschel and
co-authors' concept of 'social capitalism', but we also point out some
disagreements regarding the underlying model and the core policies.
Keywords: post-Keynesian macroeconomics,financialisation,growth
regimes,inequality,debt,social capitalism,stock-flow consistent model
JEL: B59 E02 E11 E12 E25 E65 F41 O41
<http://econpapers.repec.org/scripts/search.pf?jel=B59%20E02%20E11%20E12%20E25%20E65%20F41%20O41>
Date: 2022
URL: http://d.repec.org/n?u=RePEc:zbw:ipewps:1922022&r=hpe
11. Nobel and Novice: Author Prominence Affects Peer Review
<http://econpapers.repec.org/RePEc:chu:wpaper:22-15>
By: Jurgen Huber
<http://econpapers.repec.org/scripts/search.pf?aus=Jurgen%20Huber>
(University
of Innsbruck); Sabiou M. Inoua
<http://econpapers.repec.org/scripts/search.pf?aus=Sabiou%20M.%20Inoua>
(Chapman
University); Rudolf Kerschbamer
<http://econpapers.repec.org/scripts/search.pf?aus=Rudolf%20Kerschbamer>
(University
of Innsbruck); Christian Konig-Kersting
<http://econpapers.repec.org/scripts/search.pf?aus=Christian%20Konig-Kersting>
(University
of Innsbruck); Stefan Palan
<http://econpapers.repec.org/scripts/search.pf?aus=Stefan%20Palan>
(University
of Graz); Vernon L. Smith
<http://econpapers.repec.org/scripts/search.pf?aus=Vernon%20L.%20Smith>
(Chapman
University)
Abstract: Peer-review is a well-established cornerstone of the
scientific process, yet it is not immune to biases like the status bias,
which we explore in this paper. Merton described this bias as prominent
researchers getting disproportionately great credit for their contribution
while relatively unknown researchers getting disproportionately little
credit (1). We measured the extent of this bias in the peer-review process
through a pre-registered field experiment. We invited more than 3,300
researchers to review a finance research paper jointly written by a
prominent author (a Nobel laureate) and by a relatively unknown author (an
early-career research associate) varying whether reviewers saw the
prominent author’s name, an anonymized version of the paper, or the less
well-known author’s name. We found strong evidence for the status bias:
more of the invited researchers accepted to review the paper when the
prominent name was shown, and while only 23 percent recommended “rejectâ€
when the prominent researcher was the only author shown, 48 percent did so
when the paper was anonymized, and 65 percent did when the little-known
author was the only author shown. Our findings complement and extend
earlier results on double-anonymized vs. single-anonymized review (2–10).
Date: 2022
URL: http://d.repec.org/n?u=RePEc:chu:wpaper:22-15&r=hpe
12. Misperceiving Economic Success: Experimental Evidence on
Meritocratic Beliefs and Inequality Acceptance
<http://econpapers.repec.org/RePEc:ces:ceswps:_9983>
By: Dietmar Fehr
<http://econpapers.repec.org/scripts/search.pf?aus=Dietmar%20Fehr>; Martin
Vollmann
<http://econpapers.repec.org/scripts/search.pf?aus=Martin%20Vollmann>
Abstract: Meritocratic beliefs are often invoked as justification of
inequality. We provide evidence on how meritocratic beliefs are shaped by
economic status and how they contribute to the moral justification of
inequality. In a large-scale survey experiment in the US, we show that
success causes a change in beliefs about success depending on effort rather
than luck. Exploiting exogenous variation in meritocratic beliefs in a
two-stage analysis shows that beliefs affect how much inequality people
accept. Successful people prefer to remain ignorant about the true
underlying reasons for success and there is no evidence that beliefs are
moderated by political orientation.
Keywords: meritocratic beliefs, inequality acceptance, fairness,
political views, survey experiment
JEL: D31 D63 C93 H23 H24
<http://econpapers.repec.org/scripts/search.pf?jel=D31%20D63%20C93%20H23%20H24>
Date: 2022
URL: http://d.repec.org/n?u=RePEc:ces:ceswps:_9983&r=hpe
13. Classical and Keynesian Models of Inequality and Stagnation
<http://econpapers.repec.org/RePEc:pke:wpaper:pkwp2225>
By: Codrina Rada
<http://econpapers.repec.org/scripts/search.pf?aus=Codrina%20Rada>; Daniele
Tavani
<http://econpapers.repec.org/scripts/search.pf?aus=Daniele%20Tavani>;
Rudiger
von Arnim
<http://econpapers.repec.org/scripts/search.pf?aus=Rudiger%20von%20Arnim>
; Luca Zamparelli
<http://econpapers.repec.org/scripts/search.pf?aus=Luca%20Zamparelli>
Abstract: This paper studies two formal models of long run growth with a
medium-run distributive cycle, both of which feature causal links from the
rise in inequality to a deterioration of long run macroeconomic
performance. Both versions feature an endogenous income-capital ratio: one
through the Keynesian notion of effective demand, the other building on
induced bias in technical change. A key focus of the analysis is on the
assumptions necessary in both frameworks to generate policy implications
consistent with the observed decline of the labor share, the income-capital
ratio, and labor productivity growth during the neoliberal era.
Importantly, both theories: (a) provide space for mutually reinforcing
pro-labor and pro-growth policies in the long run, although they differ in
the mechanisms at play in these processes; (b) imply a potential tradeoff
between pro-labor policies and growth on one hand, and long-run employment
on the other; (c) are consistent with the evidence on the distributive
cycle at business cycle frequency.
Keywords: Distributive cycle, induced technical change, labor share,
stagnation
JEL: E11 E12 E25 E32 O33 O41
<http://econpapers.repec.org/scripts/search.pf?jel=E11%20E12%20E25%20E32%20O33%20O41>
Date: 2022–11
URL: http://d.repec.org/n?u=RePEc:pke:wpaper:pkwp2225&r=hpe
------------------------------
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