Økonomisk teori og filosofi

Adam Smith's An Inquiry into the Nature and Causes of the Wealth of Nations was the product of the rich tradition of the Scottish Enlightenment but the book's fame immediately spread across the whole of Europe. This book looks at the long journey of Smith's ideas from Scotland to peninsular Spain, reconstructing in detail the reception, adaptation, interpretation, and application of Smith's central concepts from 1777 up to 1840.In light of methodological advances during the last two decades in the history of economic thought and the studies on the late Spanish Enlightenment and early Liberalism, the book tackles a series of significant issues and gaps in the historiography. In particular: this book sheds new light on the role of France as an intermediate step as the ideas spread from Britain southwards; the analysis draws not just on translations but also handwritten materials, book reviews, syntheses, summaries, plagiarism and rebuttals; a wide range of methods of dissemination are considered including the printing press and periodicals, parliamentary debates, academic chairs and societies; the role of individual translators and agents is given due prominence; the political interpretations of the Wealth of Nations and the ways in which the book was incorporated into the work of Spanish economists in the decades following publication are also considered.This book marks a significant contribution to the literature on the reception of Smith's Wealth of Nations, studies of the Spanish Enlightenment and history of economic thought more broadly.

In light of the pickup of inflation at the end of 2021 and monetary policy shifts by the world's major central banks, this book examines interrelated issues in the normalization of monetary policy. It covers topics including the role of technological innovations such as derivatives and cryptocurrencies in monetary and financial management, the role of monetary policy in financial crises (especially public debt), and the major repricing needed for central banks and the global economy. In addition, the book discusses the problem of how flexible money should be and the importance of predictive tools for these decisions, with attention to the advances of languages for scientific research, including those on the workings of the economy. The work addresses the geopolitical and social challenges that have arisen as a result of the invasiveness of monetary policy in its various manifestations in the context of major leading currencies. It is aimed at scholars and students of monetary and financial economics.

By offering a critical assessment of the evolution of standard game theory, this book argues for a shift in the ontology and methodology of game theory for appraising games, one based on understanding the players¿ strategic reasoning process.Analyzing the history of economic thought, the book highlights the methodological issues faced by standard game theory in its treatment of strategic reasoning and the consequence it has on the status of players¿ beliefs. It also highlights how the two original contributions of T. C. Schelling and M. Bacharach can be applied to these issues. Furthermore, the book assesses the intersubjective dimension in games by applying the cognitive sciences and by integrating simulation theory into game theory.Consequently, this book offers an interdisciplinary approach for reassessing the nature of the intersubjectivity involved in strategic reasoning. It shows that the analysis of games should involve the study and identification of the reasoning process that leads the players to a specific outcome, i.e., to a specific solution. A game should not be understood (as is done in standard game theory) as a mathematical representation of an individual choice at equilibrium. This requires investigating the players¿ capacity for coordination. Understanding the process of coordination allows us to understand strategic reasoning and ultimately to provide new answers to the indeterminacy problem, one of the central hurdles in game theory, and one that underscores its normative difficulties.

This book provides renewed reflection and critical discussion on John Holloway's political and theoretical thought. Two decades ago, in Change the World without Taking Power, Holloway set out on a path that he followed a decade later in Crack Capitalism and continues to walk today with his new book, Hope in Hopeless Times. The contributions in this volume critically analyze his innovative attempt to rethink the meaning and dynamics of revolution in the conditions of contemporary capitalism. More than ten years after the publication of Crack Capitalism, this volume aims to question Holloway's attempt, as well as his theoretical foundations in his original rereading of Marxism and Critical Theory and their relations with the characteristics adopted by the anti-capitalist struggles during the last two decades. Its authors, from different geographies, traditions, and scientific disciplines, establish throughout its pages a fruitful dialogue convened by Holloway's innovative ideas.

First published in 1923, this book offers a thoughtful analysis of the economic and social factors that affect industrial production and growth. Robertson argues that wise government intervention is necessary to ensure that industry serves the greater good, and he provides a range of examples to support his case. This book is a classic of economic theory and an important contribution to the ongoing debate about the role of government in the economy.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 assesses the main interrelationships between economic growth processes, life cycle sustainability assessment approaches, and new technologies in the framework of digital transition. In other words, it aims to highlight how sustainability assessment methodologies and artificial intelligence can better support different actors for more sustainable economic growth. Readers of the book would benefit from diverse perspectives on the contributions of evaluation methodologies and digital technologies to more sustainable economic growth. This is important especially for students, policymakers and public institutions. Economic growth is analysed using the concepts of sigma and beta convergence from neoclassical theory and the Verdoorn law of Keynesian development. For sustainability assessments, the book considers methodologies associated with social life cycle assessment and life cycle cost analysis. In the context of digital technologies, special emphasis is given to machine anddeep learning approaches.

This book presents applications and solutions of Big Data in the GovTech system and recommendations for regulating the institutions of the digital economy and information society for the wide application of Big Data with the use of the institutional approach. In this book, a systematic scientific understanding of GovTech is formed, the central place of Big Data in this system is substantiated, and modern experience in the functioning and development of this system is considered in detail. The contribution of the book to the literature is to bridge the gap between theory and practice of GovTech through a comprehensive study of all its manifestations in the three parts of the book. The first part is devoted to GovTech in the provision of high-tech educational services based on Big Data. The second part reflects state regulation of the economy by industry using Big Data in the GovTech. The third part outlined the digital divide and the experience of overcoming it with the help of GovTech based on Big Data.The practical significance of the book lies in the fact that it offers a holistic practical guide to the development of the GovTech system based on Big Data. The book will be of interest to academic scientists studying GovTech, as it clarified its categorical apparatus and scientific basis. The subjects of management in GovTech form the secondary target audience of this book, which provides them with numerous cases from the experience of modern Russia, as well as applied recommendations for improving the efficiency of the GovTech system based on Big Data. The book is multidisciplinary and is intended for scientists from various fields of science (pedagogy, economics, business, law, management, and ICT).

This book presents a new interpretation of the role of human capital and the state in driving economic development. It places these ideas within broader debates within the history of economic thought to highlight how the nature of economic activity is a collective and coordinated process. Through examining how the welfare state reversed traditional accumulation by relying on human capital growth, the importance of the state within the development process is emphasised, alongside the multifaceted nature of competition. Different forms of public expenditure are then evaluated to identify the most productive forms of public spending and the drivers of long term economic development.This book questions the relationship between profits and rent and proposes a new kind of economic development based around human capital. It will be relevant to students and researchers interested in the history of economic thought, the political economy, and labour economics.

This book describes state-of-the-art economic ideas and how these ideas can be (and are) used to make economic decision (in particular, to optimally allocate assets) and to gauge the results of different economic decisions (in particular, by using optimal transport methods). Special emphasis is paid to machine learning techniques (including deep learning) and to different aspects of quantum econometrics-when quantum physics and quantum computing models are techniques are applied to study economic phenomena. Applications range from more traditional economic areas to more non-traditional topics such as economic aspects of tourism, cryptocurrencies, telecommunication infrastructure, and pandemic. This book helps student to learn new techniques, practitioners to become better knowledgeable of the state-of-the-art econometric techniques, and researchers to further develop these important research directions 

This book continues the ongoing debate about the need for alternative, interdisciplinary and heterodox approaches to teaching economics at university. It deals with challenges currently faced by economists, pursues an interdisciplinary approach to enhance collaboration with academics from disciplines other than economics, and analyses several questions and issues related to the 2007-08 financial crisis and the current Covid-19 emergency. The Covid pandemic has shown the flaws of the current neoliberal model and the inability of mainstream economic theory to address the problems created by the pandemic.The book engages with an academic audience interested in incorporating a wider range of economic approaches in their research and teaching, and with undergraduate and postgraduate economics students who are trying to understand the limitations of their current economics syllabi. The novelty of the book is the active involvement of undergraduate and postgraduate students who contribute to this volume with three chapters. The book will be of interest to a wide range of researchers, students and teachers interested in interdisciplinary and heterodox economics.

This book explains the inherent contradictions of Marxist economic theory and how they became apparent when the theory was applied in practice. It introduces the main theories and authors of Marxist economic thought, explores its implementation in the Soviet Union and the People's Republic of China, and offers a comparative analysis of the main distinctive features of socialist and capitalist economic systems. In turn, the book provides answers to the following questions: What has happened to the "socialist reality" and why has it become unacceptable for society? What are the causes of the collapse of the socialist economic system? This book appeals to scholars and students of economics and anyone interested in Marxist economic thinking and the practice of socialism.

This book clarifies the quantitative relationship between time, money, and labor productivity from the perspective of Marxian labor theory of value. The book is divided into four main parts. Part I introduces the relationship between time and money in the context of Marxian value theory. Part II explores the theory of labor exploitation. Part III turns to analysis of the rate of profit, which is a primary characteristic of classical and Marxian economics. Part IV is devoted to suggesting a new research direction in light of the main conceptual innovation of the book.

This book discusses the growing interest in realism in social sciences of the twenty-first century. The first part of this book provides recent discussions on realism in philosophy. The second part describes specific problems that have returned to realism in various fields of the social sciences, such as economics, cultural anthropology, management science, and statistics. This book clarifies what kinds of movements are taking place and consequently the direction in which the social sciences are heading in the future. Readers would also find that there is great diversity in the way realism and reality are perceived and understood, depending on the objectives and circumstances of each field of social science. This suggests that rather than having a unified view (stance) of realism and reality, it may be more meaningful to value the differences, diversity, and range itself. Therefore, this book does not present a unified view of realism, reality, and actuality. Although the definitions of realism and reality may differ from chapter to chapter, this represents a corner of the current state of the social sciences. This book is unique in that it examines how the issues of realism and reality are viewed, understood, and dealt with in the various fields of social science, instead of examining them by philosophers and philosophers of science. This would clarify how philosophical discussions have been translated into the various fields of social science.

This volume presents new empirical methods and applications in economics with special interest in advances in empirical macroeconomics, microeconomics, financial economics, international economics, and agricultural economics. Featuring selected contributions from the 2022 International Conference of Applied Economics (ICOAE 2021), this book provides country specific studies with potential applications in economic policy. It is beneficial to researchers, scholars, academics and policy makers in quantitative economic research (in both methods and applications).

From the workings of financial markets to our response to the ecological crisis, economic theory shapes the world. But where do these ideas come from? Ricardo's Dream tells the fascinating story of David Ricardo, Adam Smith's only real rival as the 'founder of economics'. The wealthiest stock trader of his day, Ricardo introduced the study of abstract models to economics. He also developed the theory of trade that underpinned globalization and hides, behind its mathematical facade, a history of power, empire, and slavery. Brimming with fresh ideas and stories, Ricardo's Dream shows how too many economists, from Ricardo's day to our own, have turned away from observing the real world and led us astray.

This book unifies and extends the definition and measurement of economic efficiency and its use as a real-life benchmarking technique for actual organizations. Analytically, the book relies on the economic theory of duality as guiding framework. Empirically, it shows how the alternative models can be implemented by way of Data Envelopment Analysis. An accompanying software programmed in the open-source Julia language is used to solve the models. The package is a self-contained set of functions that can be used for individual learning and instruction. The source code, associated documentation, and replication notebooks are available online. The book discusses the concept of economic efficiency at the firm level, comparing observed to optimal economic performance, and its decomposition according to technical and allocative criteria. Depending on the underlying technical efficiency measure, economic efficiency can be decomposed multiplicatively or additively. Part I of the book deals with the classic multiplicative approach that decomposes cost and revenue efficiency based on radial distance functions. Subsequently, the book examines how these partial approaches can be expanded to the notion of profitability efficiency, considering both the input and output dimensions of the firm, and relying on the generalized distance function for the measurement of technical efficiency. Part II is devoted to the recent additive framework related to the decomposition of economic inefficiency defined in terms of cost, revenue, and profit. The book presents economic models for the Russell and enhanced graph Russell measures, the weighted additive distance function, the directional distance function, the modified directional distance function, and the Holder distance function. Each model is presented in a separate chapter. New approaches that qualify and generalize previous results are also introduced in the last chapters, including the reverse directional distance function and the general direct approach. The book concludes by highlighting the importance of benchmarking economic efficiency for all business stakeholders and recalling the main conclusions obtained from many years of research on this topic. The book offers different alternatives to measure economic efficiency based on a set of desirable properties and advises on the choice of specific economic efficiency models.