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The Secularization of Political Economy

James Halteman and Edd Noell

in Reckoning with Markets: The Role of Moral Reflection in Economics

Published in print:
2012
Published Online:
May 2012
ISBN:
9780199763702
eISBN:
9780199932252
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199763702.003.0005
Subject:
Economics and Finance, Financial Economics

Following Adam Smith’s vision of a self-regulating moral economy the focus turned toward these self-regulating features and away from moral concerns. The chapter traces the development of the ... More


Business Cycle Theory

Lutz G. Arnold

Published in print:
2002
Published Online:
October 2011
ISBN:
9780199256815
eISBN:
9780191698385
Item type:
book
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199256815.001.0001
Subject:
Economics and Finance, Financial Economics

Business cycle theory is a broad and disparate field. Different schools of thought offer alternative explanations for cycles, often using different mathematical methods. This book aims to provide ... More


US Antitrust Law: Model and Lens

David J. Gerber

in Global Competition: Law, Markets, and Globalization

Published in print:
2010
Published Online:
May 2010
ISBN:
9780199228225
eISBN:
9780191711350
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199228225.003.0005
Subject:
Law, Competition Law

This chapter explores US anti-trust law experience and its influence on thought, expectations, and interpretations of competition law around the world. US anti-trust law has been at the center of ... More


An Outline of the History of Economic Thought

Ernesto Screpanti and Stefano Zamagni

Published in print:
2005
Published Online:
October 2005
ISBN:
9780199279142
eISBN:
9780191602887
Item type:
book
Publisher:
Oxford University Press
DOI:
10.1093/0199279144.001.0001
Subject:
Economics and Finance, History of Economic Thought

Provides a comprehensive and analytical overview of the development of economic theory from its beginnings, at the end of the Middle Ages, up to contemporary contributions. Traditional theories are ... More


Smith's Contribution

Athol Fitzgibbons

in Adam Smith's System of Liberty, Wealth, and Virtue: The Moral and Political Foundations of The Wealth of Nations

Published in print:
1997
Published Online:
November 2003
ISBN:
9780198292883
eISBN:
9780191596247
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0198292880.003.0013
Subject:
Economics and Finance, History of Economic Thought

This concluding chapter explains the heterogeneity of ‘classical economics’, and locates him in his true category of economic thinkers. It discusses the errors in his scientific method, the merits of ... More


New Classical Economics

Lutz G. Arnold

in Business Cycle Theory

Published in print:
2002
Published Online:
October 2011
ISBN:
9780199256815
eISBN:
9780191698385
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199256815.003.0004
Subject:
Economics and Finance, Financial Economics

This chapter begins by examining the Lucas model (1973), the ‘down-to-earth’ (Phelps 1990:42) version of Lucas' (1972) pioneering article on Expectations and the Neutrality of Money. It then ... More


Introduction

Lutz G. Arnold

in Business Cycle Theory

Published in print:
2002
Published Online:
October 2011
ISBN:
9780199256815
eISBN:
9780191698385
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199256815.003.0001
Subject:
Economics and Finance, Financial Economics

This chapter begins by discussing that business cycles came to be regarded as such in the nineteenth century. It then enumerates five schools of thought which provide alternative explanations for ... More


The Concept of Distributive Justice: Ideas for Equality

Tsuneo Ishikawa

in Income and Wealth

Published in print:
2002
Published Online:
November 2003
ISBN:
9780198288626
eISBN:
9780191596469
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/019828862X.003.0002
Subject:
Economics and Finance, Public and Welfare

The purpose of this chapter is to examine the logical foundations of typical views of distributive justice––as well as being significant in its own right, the examination will provide a basic ... More


The New Classical School

Edmund S. Phelps

in Seven Schools of Macroeconomic Thought

Published in print:
1990
Published Online:
November 2003
ISBN:
9780198283331
eISBN:
9780191596766
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0198283334.003.0003
Subject:
Economics and Finance, Macro- and Monetary Economics

This chapter gives a review of the development and theory of the New Classical school of macroeconomics, which entered the scene in 1972 and 1973 with two classical papers by Robert Lucas. It notes ... More


Perfect Information and Imperfect Markets

Mia de Kuijper

in Profit Power Economics: A New Competitive Strategy for Creating Sustainable Wealth

Published in print:
2009
Published Online:
February 2010
ISBN:
9780195171631
eISBN:
9780199871353
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780195171631.003.0005
Subject:
Economics and Finance, Macro- and Monetary Economics

The second face of transparency, namely the inevitable trend toward the rise in the interdependence of decision making that comes with perfect information, is causing old economic models to fail. ... More


The Central Tradition

Mike Berry

in The Affluent Society Revisited

Published in print:
2013
Published Online:
January 2014
ISBN:
9780199686506
eISBN:
9780191766374
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199686506.003.0003
Subject:
Economics and Finance, History of Economic Thought

This chapter discusses the early chapters of The Affluent Society dealing with the history of orthodox economics. Galbraith’s aim here was to establish the long tradition in which economists have ... More


Business Cycles

GREGORY C. CHOW

in Dynamic Economics: Optimization by the Lagrange Method

Published in print:
1997
Published Online:
October 2011
ISBN:
9780195101928
eISBN:
9780199855032
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780195101928.003.0005
Subject:
Economics and Finance, Financial Economics

Because of the Great Depression that hit the United States during the early 1930s, Keynes was able to conclude in his work entitled General Theory that institutions of a market economy cannot always ... More


The Intellectual Background, 1770–1870–1

P. S. Atiyah

in The Rise and Fall of Freedom of Contract

Published in print:
1985
Published Online:
March 2012
ISBN:
9780198255277
eISBN:
9780191681578
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780198255277.003.0011
Subject:
Law, Law of Obligations

This chapter examines changes in the intellectual condition in England during the period from 1770 to 1870 and the important implications of this for freedom of contract. The intellectual background ... More


The Present as the Future, 1

John Kenneth Galbraith

in Economics in Perspective: A Critical History

Published in print:
2017
Published Online:
May 2018
ISBN:
9780691171647
eISBN:
9781400889075
Item type:
chapter
Publisher:
Princeton University Press
DOI:
10.23943/princeton/9780691171647.003.0021
Subject:
Economics and Finance, Economic History

This chapter examines the low estate to which modern economics has descended or is widely thought to have descended. John Maynard Keynes made the most famous forecast of the future of economics more ... More


Econophysics and Physical Economics

Peter Richmond, Jürgen Mimkes, and Stefan Hutzler

Published in print:
2013
Published Online:
December 2013
ISBN:
9780199674701
eISBN:
9780191780066
Item type:
book
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199674701.001.0001
Subject:
Physics, Theoretical, Computational, and Statistical Physics

An understanding of the behaviour of financial assets and the evolution of economies has never been as important as it is today. This book looks at these complex systems from the perspective of the ... More


The Grand Assault

John Kenneth Galbraith

in Economics in Perspective: A Critical History

Published in print:
2017
Published Online:
May 2018
ISBN:
9780691171647
eISBN:
9781400889075
Item type:
chapter
Publisher:
Princeton University Press
DOI:
10.23943/princeton/9780691171647.003.0011
Subject:
Economics and Finance, Economic History

This chapter examines Karl Marx's critique of the classical tradition in economics. The classical tradition postulated an equilibrium that would come to be known as equilibrium economics. No change ... More


The Wage

Zoe Adams

in Labour and the Wage: A Critical Perspective

Published in print:
2020
Published Online:
April 2020
ISBN:
9780198858898
eISBN:
9780191891007
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/oso/9780198858898.003.0004
Subject:
Law, Employment Law

The purpose of Part II of this book is to explore, at a more concrete level, the relationship between law and capitalist social relations, through a close genealogical study of the social category of ... More


The Shift toward Secular Ideology

Jon D. Wisman

in The Origins and Dynamics of Inequality: Sex, Politics, and Ideology

Published in print:
2022
Published Online:
December 2021
ISBN:
9780197575949
eISBN:
9780197575970
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/oso/9780197575949.003.0008
Subject:
Economics and Finance, Economic History

Following the rise of the state, religion served to legitimate societies’ institutions, practices, and unequal distributions of income, wealth, and privilege. However, emerging capitalism and its ... More


VALUE IN CLASSICAL ECONOMICS

Patrick L. Anderson

in The Economics of Business Valuation: Towards a Value Functional Approach

Published in print:
2013
Published Online:
September 2013
ISBN:
9780804758307
eISBN:
9780804783224
Item type:
chapter
Publisher:
Stanford University Press
DOI:
10.11126/stanford/9780804758307.003.0007
Subject:
Economics and Finance, Financial Economics

The author begins a review of 10 different theories of value with this chapter on classical economic thought. The labor theory of value dates as least as far back as Adam Smith and the 18th century, ... More


American Concerns: Trade and Trusts; Enriched and the Rich

John Kenneth Galbraith

in Economics in Perspective: A Critical History

Published in print:
2017
Published Online:
May 2018
ISBN:
9780691171647
eISBN:
9781400889075
Item type:
chapter
Publisher:
Princeton University Press
DOI:
10.23943/princeton/9780691171647.003.0013
Subject:
Economics and Finance, Economic History

This chapter examines the American preoccupation with money. While there was little concern in the United States for the central themes of classical economics or for the Marxian and other forms of ... More


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