Each of the chapters in this volume concerns some aspect of economists' use of controlled experiments. Since the mid-1970s this kind of work has been transformed from a seldom encountered curiosity to a small but well-established and growing part of the economic literature. This transformation has been rapid. For example, when I began my own experimental work about a dozen years ago, it was mos…
A review of the past 40 years reveals that economic policymaking has been profoundly influenced by two major phenomena. In the 1960s and 1970s, the Keynesian "revolution" made its debut on the stage of economic policy and determined the actions of policymakers in the Western world. The last two decades of the past millennium intum were influenced by the phenomenon of privatization. While the …
1. Political economy or economics is a study of mankind in the ordinary business of life; it examines that part of individual and social action which is most closely connected with the attainment and with the use of the material requisites of wellbeing. Thus it is on the one side a study of wealth; and on the other, and more important side, a part of the study of man. For man's character has b…
The main aim of this book is to introduce the ideas of the neo-Austrian school of economics and to compare these ideas with the more familiar methods of conventional or orthodox economics. Many well-known introductory textbooks meant for the use of prospective accountants or business studies graduates, whose main interest is not in economics, typically make great use of graphical diagrams of eq…
At present, problems of optimization of the interaction between nature and human society can be solved only by the joint efforts of a wide range of specialists. The elaboration and realization of plans of socio-economic development for individual countries and regions should be based on the principles of preservation of balance in the biosphere, biogeocenoses, landscapes and other natural com…
The word ‘socialism’ is apt to produce strong feelings, of enthusiasm, cynicism, hostility. It is the road to a future just society, or to serfdom. It is the next stage of an ineluctable historical process, or a tragic aberration, a cul-de-sac, into which the deluded masses are drawn by power-hungry agitator-intellectuals. My own attitude will emerge in the pages that follow. Let me make it…
This collection reflects the rather wide range of my interests, from the history of Russian economic thought to the contemporary Soviet scene, as well as questions relating to socialism and the role and limitations of markets. Major changes are taking place in the Soviet Union and in a number of other communist-ruled countries, changes which involve decisive strengthening of market forces and a…
Léon Walras may rightfully be considered as one of the founding fathers of mathematical economics. Much of mathematical economics developed since Walras’s time has gradually become common knowledge in economics. This means that Walras directly and indirectly has had a marked influence upon our science as it stands now. It is therefore important to know how Walras came to his results, what…
During the last decade the literature on Léon Walras has expanded enormously and, if the signs are right, there is more to come. Undoubtedly, the increased attention for the work of Walras has a lot to do with the increased accessibility of the work through the publication of the collected works by the Centre Walras at the University of Lyon and the archival work at the Centre Walras & Pareto…
This monograph examines the domain of classical political economy using the method- ologies developed in recent years both by the new discipline of econo-physics and by computing science. This approach is used to re-examine the classical subdivisions of political economy: production, exchange, distribution and finance. The book begins by examining the most basic feature of economic life – pr…
A search for “human ecology” on the Google search engine produces an over- whelming 55 million results. A more traditional academic search, at the University of California, Berkeley library produces 903 references, which are scattered in various libraries ranging from Bioscience to Business and Economics and Environmental Design. Textbooks proposing to summarize this field include the early…
Would you rather live in a world without blood transfusions or a world without maritime insurance? Blood transfusions are dramatic and memorable (which is why we see them on prime-time hospital shows), while the facilitation of commerce through risk sharing is routine and easily taken for granted. But I'd be willing to bet that by almost any measure, three centuries of organized insurance marke…
In the last two decades there has been a flourishing of research carried out jointly by economists, psychologists, and neuroscientists. This meltdown of barriers between competences has led toward original approaches to investigate the mental and cognitive mechanisms involved in the way the economic agent collects, processes, and uses information to make choices. This research field involves …
One clearly evident dimension is research. Certain authors introduce quite new intellectual approaches into scientific debate. This requires a special frame of mind and a searching curiosity about social reality. Carl Gustav Jung identified a phenomenon which he called systematic blindness: when a science reaches a stage of maturity and equilibrium, it categorically refuses, from a sense of sel…
Have you ever wondered about the meaning of a word, a phrase, or an acronym in international economics? I often do. So I have looked them up, written their definitions, and listed these in a glossary that I have assembled over the last several years on my web site. With that I have frequently been able to refresh my own failing memory, since having written the definitions, I often forget them…
The material in the main text ranges from a revision of high-school mathematics to applications of calculus (single-variate, multivariate and integral) to economics and finance. For example: linear and quadratic functions are introduced in the context of demand and supply analysis; geometric sequences, exponential and logarithmic functions are introduced in the context of finance; single-variat…
This is a collection of my main essays on econometric methodology from the period 1974– 85 during which the approach developed into its present form, integrated by a commentary on the motivations, personalities and ideas central to its formalization. Sue Corbett of Blackwell Publishers initiated the idea of drawing together the main steps through which the methodology had evolved,since a deve…
This book is a descriptive and critical bibliography of works on the philosophy of individualism. I have applied the term "individualism" in a broad sense. The bibliography includes books which explain the processes and advantages of free trade, free enterprise and free markets; which recognize the evils of excessive state power; and which champion the cause of individual freedom of worship, …
This book aims to highlight the gendered nature of housing processes and systems in an international context. The intention is to explore the dynamics of contemporary economic and social change and consider the implications for the relationship between women and the housing system in developed and emerging societies in Europe, the USA and East Asia. Whilst there has been a growing interest in c…
This book is the result of research and conversation over a number of years, and it gives us great pleasure to have a chance to thank the many people who have generously provided criticism, support, and inspiration to us over that time. There is no way to cite everyone who helped as we tested our ideas at university seminars, academic conferences, before the U.S. International Trade Commission,…
My premise is that the destiny of man is to emerge or evolve toward an advancing potential and that individual liberty is essential to such progress. Unless a reader shares my premise, he will not respond to my reasoning; nor will it be possible for him to arrive at my conclusions. He may have his eye set on a star I do not see or, if seeing, care nothing whatsoever about. I side with Th…
When I studied at Novosibirsk State University (Russian) I was lucky to have such brilliant teachers in mathematics as M.A. Lavrentyev, S.L. Sobolev, A.I. Mal’tsev, Yu.G. Reshetnyak and others. But it were L.V. Ovsyannikov’s lectures in Ordinary differential equations, Partial differential equations, Gas dynamics and Group properties of differential equations that were of the most benefit f…
We decided to get this book published to help the larger audience make sense of the discussion on climate change and its implications for economic growth in In- dia. Issues linking climate change and economic growth are now at the centre of discussions regarding climate friendly development strategies which are increas- ingly becoming a necessity rather than an option for late-industrialising c…
Peninsular Malaysia, then known as the Federation of Malaya, gained independence from Britain in 1957. An expanded federation of Malaysia was formed in September 1963 by federating the Federation of Malaya with the former Straits Settlements island colony of Singapore to the south of Malaya, Sabah (previously run by the British North Borneo Company, set up by royal charter) and the former Bro…
In the context of decision-making in committees, equation (