Økonomisk teori og filosofi

The University of Chicago has been and continues to be one of the most important global centres for economics. With six chapters on themes in Chicago economics and 33 chapters on the lives and work of Chicago economists, this volume shows how economics became established at the University, how it produced some of the world¿s best-known economists, including Frank Knight, Milton Friedman and Robert Lucas, and how it remains a global force for the very best in teaching and research in economics. With original contributions from a stellar cast, this volume provides economists ¿ especially those interested in macroeconomics and the history of economic thought ¿ with an in-depth analysis of Chicago economics.

Did you know that Bach invested in mines? That Rossini improved his income by running casinos in the opera houses which on weekends performed his operas? Or that Puccini composed shorter arias to make them fit the length of gramophone disks as they reported him huge revenues? Or who was, in financial terms, the most successful classical composer in history? This book ¿the first of its kind¿ studies and compares the finances of twenty classical composers in their historical and economical context. Each chapter details and quantifies the sources of income of these musicians (wages, royalties, subsidies, percentages over the number of performances, arrangements, investments in the musical sector, etc), thus allowing to estimate the income they obtained due to their artistic ¿ primarily compositional, but also related¿ activities. In addition, it also estimates the composer¿s expenditures, thus drawing a relatively complete image of their personal finances. This not only allows to concludeto create a ranking of composers according to their economic success, but ¿more importantly¿ for the first time gives an accurate image of the financial situation of a broad set of composers. This allows to correct many false believes while also giving new insights on the relation between economics and music history.

This book presents the best papers from the 4th International Conference on Mathematical Research for Blockchain Economy (MARBLE) 2023, held in London, UK. While most blockchain conferences and forums are dedicated to business applications, product development, or Initial Coin Offering (ICO) launches, this conference focused on the mathematics behind blockchain to bridge the gap between practice and theory.The book spans the divide between theoretical promise and practical reality in blockchain technology and explores the challenges hindering its real-world integration across diverse sectors, offering comprehensive insights into issues like scalability, security, and privacy.

This is the first part of a two-volume set on Concordian economics, a new paradigm whose core completes the Aristotelian-Aquinian project of economic justice. The book delves into the history of economics and presents Concordian economics as a response to the concerns and shortcomings of mainstream economics. Demand-side economics is represented in the process of consumption¿the expenditure of monetary wealth to acquire real wealth and financial wealth of a different nature. In contrast, supply-side economics is represented in the production process, the process of producing real wealth, e.g. tables, chairs and foodstuffs. Institutionalists will also welcome this book because it ties the world of real wealth to that of monetary wealth through the process of distributing the value of ownership of both monetary and real wealth as they are created. The book begins with an introduction to Concordian economics, followed by a discussion of how to restore relevance to the fieldof economic studies. It also presents a revision of the Keynesian model designed to gradually address the major social, economic, and political causes of discord. Moreover, the author warns against the separation of economics from the world of physical things as well as the world of legal and moral issues. Following a discussion on the measurement of real wealth, econometrics is introduced in accordance with the categories of Concordian economics. Lastly, the book develops a theory of economic justice by defining a set of economic rights and responsibilities that guide economic behavior and policy.This book appeals to scholars and students of economics and related fields, as well as anyone interested in reintegrating economics into the social context.

This book provides a comprehensive overview of the fundamental concepts and principles of microeconomics. It introduces students to the models, assumptions, and empirical applications of modern microeconomics, as well as to the necessary mathematical tools. It covers topics such as economic behavior, consumer theory, theory of the firm, partial and general equilibrium theory, industrial organization, bargaining theory, and Pareto optimality. Students learn not only about economic outcomes at a given point of equilibrium, but also about dynamic economics, which includes both equilibrium and disequilibrium.This book is intended for undergraduate and graduate students in economics and related fields who are interested in the basic theories and applications of microeconomics.

This revised and expanded book focuses on Hilferding's major work, Finance Capital. In revisiting this influential book from a methodological point of view, both historical and intellectual, the authors affirm Hilferding's place in the Marxist tradition. Hilferding's ideas are used to criticise incumbent approaches in economics and enrich existing discussions and debates about the nature of modern capitalism. In doing so, this book highlights the importance of Hilferding's work in analysing and understanding modern capitalism and corporate developments. New material looking at Hilferding¿s economic journalism, debates around his work in Poland, and Eugene Vargäs perspective on his work is also included.The book aims to explore Hilferding¿s central ideas on the political economy, as well as its historical context and relation to Marx. It will be relevant to students and researchers interested in the political economy, the history of economic thought, and European politics.

This edited volume presents the key unresolved debates in monetary macroeconomics, covering the five topics of budget, trade, taxes, exchange rates and monetary policy. For each topic, there are two authors - one arguing for a certain policy and one against. The book takes an approach eschewing mathematics or econometrics, instead presenting arguments in the spirit of political economy - while incorporating the most recent thinking in macroeconomics. This approach, combined with the objective of encouraging debate, makes the book ideal reading for students of monetary macroeconomics, researchers seeking alternative views, and the general public.

Taking a multidimensional approach, this book sheds light on the evolution of organizational studies in a structured and systematic way, against the background of economic and social changes in recent decades. By doing so, the book focuses on the plurality of organizing models as a central concept. This plurality is important to the survival of the firm in response to the growing complexity of the economic, social, and technological innovation that has arisen as a result of globalization. The book goes beyond the traditional approach to the study of organizations, of a structural and functionalistic type. It investigates the role of cultures and the ethical, symbolic, and value dimensions in the redefinition dynamics of strategic assets, as well as the search for new governance models in innovative organizations. Further, it discusses the role of leadership, in relation to the development of professional groups and the skills necessary for the management of endo-organizational, inter-organizational, and trade union negotiation processes. Finally, the book analyzes the economic, social, and cultural change in societies and discusses how companies and organizations of all types can develop cultures of innovation that may lead to socially inclusive governance.This book will appeal to students, researchers, and scholars of economics, business, and the social sciences, as well as professionals and practitioners interested in a better understanding of how organizations function in today¿s globalized world.

This book, the first of two volumes, explores the legacy of Trevor Winchester Swan, often described as Australia's greatest ever economist. An insightful biography is accompanied with Swan's most prominent articles to provide a broad view of his life and work. Particular attention is given to the famous Swan Diagram, known among macroeconomists worldwide, Swan's four zones of economic unhappiness, his view of how economies grew based on capital deepening and technical progress, and the Solow-Swan model of economic growth.This book aims to shed light on the enigmatic and influential life of Trevor Winchester Swan. It will be relevant to students and researchers interested in the history of economic thought.

This textbook provides a comprehensive overview of noncooperative and cooperative dynamic games involving uncertain parameter values, with the stochastic process being described by an event tree. Primarily intended for graduate students of economics, management science and engineering, the book is self-contained, as it defines and illustrates all relevant concepts originally introduced in static games before extending them to a dynamic framework. It subsequently addresses the sustainability of cooperative contracts over time and introduces a range of mechanisms to help avoid such agreements breaking down before reaching maturity. To illustrate the concepts discussed, the book provides various examples of how dynamic games played over event trees can be applied to environmental economics, management science, and engineering.

All hail the new masters of Capitalism: How asset managers acquired the world

This book provides an investor-friendly presentation of the premises and applications of the quantitative finance models governing investment in one asset class of publicly traded stocks, specifically real estate investment trusts (REITs). The models provide highly advanced analytics for REIT investment, including: portfolio optimization using both historic and predictive return estimation; model backtesting; a complete spectrum of risk assessment and management tools with an emphasis on early warning systems, risk budgeting, estimating tail risk, and factor analysis; derivative valuation; and incorporating ESG ratings into REIT investment. These quantitative finance models are presented in a unified framework consistent with dynamic asset pricing (rational finance). Given its scope and practical orientation, this book will appeal to investors interested in portfolio optimization and innovative tools for investment risk assessment.

This book explores the early work and activities of Joan Robinson that focused on economic development within underdeveloped countries, in particular India before independence. By analysing the style of Robinson's thinking and economic analysis, and based on the works of Indian contemporaries, parts of The British Crown and the Indian States previously unattributed to her are seen to exhibit her preoccupation with poverty, backwardness, unemployment, the population problem, international trade, and the role of the state. Through keeping in mind Robinson's later work, the development of her ideas can be reflected upon, alongside critical perspectives. It also reveals the beginnings of her role as a public intellectual.This book aims to shed new light on Joan Robinson's work on development and to provide insight to an overlooked part of her research. It will be relevant to students and researchers interested in the history of economic thought, development economics and economic history.

Experience the economic theories and insights of one of the greatest minds of the 17th century with this comprehensive collection of Sir William Petty's writings. Covering topics such as taxation, foreign trade, and population growth, this book is an essential resource for anyone interested in economic history and policy. A must-read for scholars, economists, and history buffs alike.This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it.This work is in the "public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work.Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.

This book examines the economic, social and political thought of two highly influential cross-disciplinary contributors to the debate in the United Kingdom about welfare economics, social welfare, nationalisation and public policy. Active between the 1880s and the 1930s, their many books, papers, lectures and speeches shaped the discourse on heterodox economics, social democracy and the managed economy. The Webbs sat on Royal Commissions, permeated local and central government, and were instrumental in the creation of the London School of Economics. This book discusses and assesses their contribution to the broad topics of inequality, poverty, unemployment, freedom, capitalism, socialism, constitutional reform, social evolution and the historical school. Issues such as these remain at the forefront of contemporary discussions not just in Britain but throughout the world.

Den forbandede del er Georges Batailles politiske økonomiske teori, hvori han indvarsler en kopernikansk vending: en omvending af, hvordan vi tænker økonomi, vores materielle grundlag, livets overflod og den energi, vi har til rådighed. En begrænset økonomisk tænkning tager afsæt i knaphed og mangel, i produktion, rationalitet og nytte, uden blik for den uomsættelige rest, der er en del af enhver produktion. Den forbandede del er netop den uproduktive rest, der ikke kan omsættes rationelt eller nyttigt, men som må ødsles bort, på strålende vis, ellers katastrofalt. Udgangspunktet for Batailles generelle økonomi er med andre ord livets overflod, hvis kilde er solens ødsle udskænkning af energi. Spørgsmålet er så, hvordan vi udløser vores rigdomme, den overskydende forbandede del af energien, om det sker gennem festivaler, gavegivning, erotik, rus, kunst eller sågar ødelæggelseskrige.Det er første gang, at bogens første del foreligger i dansk oversættelse.Den forbandede del (et uddrag) og Himmelske legemer er en del af bogserien AFTRYK, der samler korte og vedkommende filosofiske tekster med væsentlig virkningshistorie. Jon Auring Grimm har skrevet introduktionen til teksten, der gør den relevant for studerende såvel som andre læsere med interesse for soløkonomi, kosmisk filosofi og det unyttige.

This book is a machine-generated literature overview that explores the theoretical and empirical aspects of economics of natural disasters such as floods, cyclones, droughts, and earthquakes from a policy perspective. It provides a comprehensive collection of economic theories in Disasters and empirical findings that would benefit scholars in academia and policy-making. On the theory side, there is a growing use of game theory, Input-Output, computable general equilibrium models, and Catastrophe models to analyze the economic impacts of natural disasters. These models provide optimal decisions for the government concerning disaster relief. On the empirical front, studies showing causal and associative relationships between disasters and socio-economic variables are important for estimating disaster-related losses and making appropriate policy suggestions.The book explores different critical aspects and interlinkages of natural disasters; economic, social, and political. Besides having localized effects, disasters influence macroeconomic parameters, such as impacts on international trade and foreign direct investment. Moreover, the effects of disasters are subject to interventions from various national and international agencies. It discusses fiscal pressures caused due to disasters and existing policies related to disaster-risk mitigation and management as a guide to policy-making. It is an important guide to researchers and policymakers examining the socio-economic impact of natural disasters and public investment for disaster-risk mitigation.

This edited volume discusses the life and scholarship of Friedrich Engels. Written to commemorate the two-hundred-year anniversary of Engels' birth, the contributions take a look into his research from a variety of viewpoints, trace the influence of his predecessors, and critically evaluate his place within 19th century scholarship. In addition, specific topics are taken up, such as his (mis)assessment of American capitalism, his influence on the Italian labor movement, the thematization of social problems and the relevance of his thought in a global economy. Providing a fresh look at the co-founder of scientific socialism, this volume will be of interest to researchers and students of contemporary political, social and economic systems, the history of economic thought, and political history.

Why the neglected third volume of Capital holds the key to Marx's theory of value

Book looking at the cultural context in which economic decisions are typically taken in the West and now, increasingly, globally. It considers how economic activity may be rendered increasingly proportionate, sustainable - and fairer - by more openly involving a spiritual dimension, whether that is Christian or drawn from other traditions.

This book outlines the rich and complex path of Luigi Amoroso, the main exponent of the Paretian School in Italy and probably the most important Italian mathematical economist during the interwar period. The author presents, in a systematic form, the evolution of Amoros's thinking and his main achievements. Despite his relevance, many aspects of Amoroso's thought are little known or misunderstood. This volume delves further to explore the Paretian tradition in which Amoroso enlisted, the conservative anti-democratic ideology that prompted his adhesion to fascism, his contribution to defining the main features of economic theory as formal science, and his various contributions to specific fields such as microeconomic theory, equilibrium dynamics, business cycles and non-competitive markets. It will be relevant to students and researchers interested in the history of economic thought.

This book examines the interrelations between Russian and European economics from the early 19th century to the present. It analyzes how Western economic thinking, such as classical economics and the marginal revolution, influenced Russian economic thinking and how Western economic ideas were modified and adapted to better reflect the specific Russian circumstances of the time. Moreover, the contributions in this book show how these modified ideas also influenced Western economists at the end of the 19th century, when Russian economics had reached the stage of professionalism and joined the international discourse on the discipline. Written by an international selection of respected experts, this book provides an overview of the most influential Russian economists and covers a wide range of topics such as the marginal revolution, the specific influence of Marxism, the evolution of mathematics and statistics in Russia in the 1890s-1920s, and the unique experience of building a planned economy in the Soviet Union. It is intended for all scholars and students who are interested in the history of economic thought.

The objective of this book is to answer the calls from front-line managers, entrepreneurs, and scholarly researchers to reconstruct the theories of economics and business. Their request is for new theories to be more relevant to real life than the now-prevalent ones. To provide that answer, the book proposes to develop elementary postulates at the level of the four natural endowments of a business firm or an individual: self-awareness, imagination, conscience, and free will. Then, conclusions based on these postulates can be established through logical reasoning. On this realistic footing, the book employs the concepts, methodology, and logical reasoning of systems science to answer a full list of theoretically and practically important questions. Those queries involve such topics as rationality, the meanings of optima and choices of optimization methods, the relationship between micro- and macro-phenomena, consumption preferences, and utility representations. The target audience of the book includes graduate students and scholarly researchers, particularly those who look for opportunities to develop new territories in the world of economic and business knowledge. The book also aims at front-line decision-making managers and entrepreneurs who seek sounder theories than the commonly available ones on which to base their critical decisions. By competently employing the systemic intuition¿yoyo model, graduate students, scholarly researchers, decision-making managers, and entrepreneurs can attain new conclusions. In addition, they will gain insightful understanding of market signals without unnecessarily expending other resources of limited availability.

Inspired by his lectures on rhetoric and by game theory, this book provides a new interpretation of Adam Smith¿s system of thought. It highlights its coherence through the identification of three reasoning routines and a meta-reasoning routine throughout his work on languages, rhetoric, moral sentiments, self-command, and the nature and causes of the wealth of nations. The identification of these reasoning routines allows the authors to uncover a hitherto poorly understood deep structure of Smith¿s work and to explain its main characteristics. How these routines emerged in Smith¿s early research on the principles of the human mind is also traced. This book sheds new light on Adam Smith and his work, highlighting his sophisticated understanding of strategic interaction in all things rhetorical, moral, and economic. It will be relevant to students and researchers interested in the history of ideas, the history of economic thought, game theory, Enlightenment studies, and rhetoric.

Peter Georgescu arrived in this country as a penniless Romanian refugee and rose to become the CEO of Young & Rubicam. This is why he's so heartsick that with flat wages, disappearing jobs, and a shrinking middle class, his kind of rags-to-riches story doesn't seem possible now. But he has a message for his fellow CEOs: we're the ones who must take the lead in fixing the economy. Marshaling deeply sobering statistics, Georgescu depicts the stark reality of America today: a nation with greater wealth inequality and lower social mobility than just about any other country in the developed world. But the problem isn't that free-market capitalism no longer works-it's that it's been hijacked by shareholder primacy. Where once our business leaders looked to the needs and interests of a variety of stakeholders-employees, community members, the business itself-now they're myopically focused on maximizing their shareholders' quarterly returns. Capitalists Arise! shows how the short-term thinking spawned by shareholder primacy lies at the root of our current economic malaise and social breakdown. But Georgescu offers concrete actions that capitalists themselves can take to create a better future. The irony is that if businesses do this, shareholders will do even better. In the long run, businesses can thrive only when society is healthy and strong. This book is a manifesto calling on capitalists to heal the nation that has given them so much.