{"title":"To What Extent did European Legal Theory Pave the Way for an Economic Analysis of Law? Insights from Kelsen, Hart and Del Vecchio","authors":"Régis Lanneau","doi":"10.1400/240141","DOIUrl":"https://doi.org/10.1400/240141","url":null,"abstract":"The transatlantic divide in the reception of law and economics is difficult to explain. Many factors have been mentioned without perfect success. The influence of legal theory has been unfortunately omitted. This article will show that European legal theory largely paved the way for an economic analysis of law through the clarification of legal language. EAL is certainly excluded as a theory of law, but it is recognized as a theory about law. Moreover, EAL through the lens of European legal theory is in part redefined.","PeriodicalId":38602,"journal":{"name":"History of Economic Ideas","volume":"57 1","pages":"195-224"},"PeriodicalIF":0.0,"publicationDate":"2015-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"66623861","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"INNOVATION AS A CREATIVE RESPONSE. A REAPPRAISAL OF THE SCHUMPETERIAN LEGACY","authors":"C. Antonelli","doi":"10.4337/9781782545149.00005","DOIUrl":"https://doi.org/10.4337/9781782545149.00005","url":null,"abstract":"The paper uncovers the merits of the essay «The creative response in economic history » published by Joseph Alois Schumpeter in the Journal of Economic History in 1947 and ‘almost’ forgotten since then. The correct appreciation of this Schumpeterian contribution is important to for two reasons. It enables to better understand the evolution of Schumpeter’s thinking. The 1947 contribution should be regarded as the final attempt to provide a synthesis of his evolving approaches to the understanding the origins, the causes and the consequences of innovation in economics and in the economy. This 1947 essay is most important also because it portrays innovation as the result of a creative reaction conditional to the characteristics of the context into which it takes place anticipating the notion of innovation as an emergent property of system dynamics.","PeriodicalId":38602,"journal":{"name":"History of Economic Ideas","volume":"23 1","pages":"99-118"},"PeriodicalIF":0.0,"publicationDate":"2015-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"70703727","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"From the Great Depression to the current crisis: more than analogy, genealogy","authors":"L. Fantacci","doi":"10.1400/230178","DOIUrl":"https://doi.org/10.1400/230178","url":null,"abstract":"This paper investigates the ties that link the Great Depression to the current crisis through the channel of liquidity. The main objective is not to compare the conjunctures that make crises happen, but to highlight the structures that make crises possible. Liquidity is shown to be the distinctive feature, the elusiveness of which has made both the strength and the fragility of monetary and financial systems over the past century. The brief conclusion hints at several ways in which international liquidity could be reduced to stem the flux of financial crises.","PeriodicalId":38602,"journal":{"name":"History of Economic Ideas","volume":"22 1","pages":"23-46"},"PeriodicalIF":0.0,"publicationDate":"2014-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"66622093","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Keynes, the Great Depression, and international economic relations.","authors":"A. Carabelli, M. Cedrini","doi":"10.1400/230183","DOIUrl":"https://doi.org/10.1400/230183","url":null,"abstract":"Two diametrically opposed positions have developed in the literature as regards the impact of the Great Depression on Keynes’s economics: while ‘externalists’ consider the Great Depression as the determining cause of Keynes’s revolution, other subscribe to an ‘internalist’ view of the development of Keynes’s thinking from the 'Treatise on Money' to the 'General Theory'. The article suggests a third possibility, namely that Keynes’s ‘method’, and methodological continuity throughout his writings, allow the possibility to adapt theories to changing times and circumstances, that is, to different quaesita. It thereby emphasizes that, though elaborated having in mind the theoretical framework of the 'Treatise on Money', Keynes’s early articles on the Great Depression tell much about the future as well as the past of his theoretical journey. In particular, the article illustrates two ‘big pictures’ providing the background for the Keynes’s evolving thoughts on the main issues of capitalism. The criticality of investment decisions under conditions of irreducible uncertainty, and the ineliminable tensions between creditors and debtors, also at the international level, endangering national autonomy and policy space, are here discussed as two main constants in the evolution of Keynes’s thinking, providing insights that might be relevant to interpret the current recession.","PeriodicalId":38602,"journal":{"name":"History of Economic Ideas","volume":"22 1","pages":"105-136"},"PeriodicalIF":0.0,"publicationDate":"2014-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"66622402","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Crime as business","authors":"L. Gandini","doi":"10.1400/230186","DOIUrl":"https://doi.org/10.1400/230186","url":null,"abstract":"The image of the gangster in early Hollywood cinema is subject to an evolution that reflects the perception of business in American society. During the tens and the twenties, the gangster is described more as a bandit than as a racketeer, whose crimes are limited to the neighborhood where he was born and raised. After the Wall Street crash, the Hollywood gangster is described as a businessman in order to underline his proximity to capitalist entrepreneurs. His wealth and his luxurious lifestyle are the main reason of his downfall, since he neglects criminal business and loses control of the racket.","PeriodicalId":38602,"journal":{"name":"History of Economic Ideas","volume":"22 1","pages":"159-166"},"PeriodicalIF":0.0,"publicationDate":"2014-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"66622426","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Price theory and U.S. antitrust : a note on an enduring legal doctrine","authors":"R. Signorino","doi":"10.1400/218555","DOIUrl":"https://doi.org/10.1400/218555","url":null,"abstract":"Since the mid-1980s the post-Chicago approach to antitrust economics has produced a few game-theoretic models which have challenged many typical Chicago antitrust propositions. Yet, Chicago style antitrust has not yet lost its hold on u.s. antitrust. The paper suggests that the Chicago persistence within u.s. antitrust and, by the same token, the inhospitality of u.s. antitrust towards game-theoretical Industrial Organization theory owe much to the vitality of the legal doctrine according to which antitrust analysis should be consistent with traditional price theory. In particular, the paper analyzes two issues: i. the adoption of the equilibrium end-state notion of competition which is still dominant within mainstream economics and ii. the unshaken faith in the resilience of competition vis-a-vis Type ii errors committed by antitrust Agencies, provided that government-induced barriers to entry be absent or negligible.","PeriodicalId":38602,"journal":{"name":"History of Economic Ideas","volume":"21 1","pages":"113-123"},"PeriodicalIF":0.0,"publicationDate":"2013-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"66621565","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Carl Menger’s Contribution to Capital Theory","authors":"E. Braun","doi":"10.21268/20161213-142330","DOIUrl":"https://doi.org/10.21268/20161213-142330","url":null,"abstract":"The common interpretation of Carl Menger’s take on capital theory rests upon a few sentences in his Principles of Economics. His later monograph on the topic, Zur Theorie des Kapitals (A contribution to the theory of capital), is more or less ignored, although it must be seen as a recantation of his earlier views. As it becomes clear in this work, Menger would have opposed all attempts to define capital as a heterogeneous structure of higher-order goods – a definition that is associated with his name today. In his opinion capital is a homogeneous concept stemming from accounting practices. The debate about Menger’s view on capital does not only concern terminological points, but involves the subject matter of capital theory. A theory of capital based on Menger’s later view would concentrate on the way the market economy is organized and not on technical characteristics of a multi-stage production process.","PeriodicalId":38602,"journal":{"name":"History of Economic Ideas","volume":"23 1","pages":"77-100"},"PeriodicalIF":0.0,"publicationDate":"2013-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"68016584","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Kuznets' lost legacy","authors":"B. Mitra-Kahn, Daniel Hirschman","doi":"10.1400/218556","DOIUrl":"https://doi.org/10.1400/218556","url":null,"abstract":"","PeriodicalId":38602,"journal":{"name":"History of Economic Ideas","volume":"1 1","pages":"127-136"},"PeriodicalIF":0.0,"publicationDate":"2013-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"66621804","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"From affluence to austerity in post-war Britain : there and back again","authors":"P. Paesani","doi":"10.1400/218092","DOIUrl":"https://doi.org/10.1400/218092","url":null,"abstract":"","PeriodicalId":38602,"journal":{"name":"History of Economic Ideas","volume":"21 1","pages":"121-126"},"PeriodicalIF":0.0,"publicationDate":"2013-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"66620785","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}