{"title":"IN THE SHADOW OF THE INVISIBLE HAND","authors":"F. Rassekh","doi":"10.1400/121163","DOIUrl":"https://doi.org/10.1400/121163","url":null,"abstract":"An inherent affinity exits between the evolutionary interpretation of the invisible hand and the science of complexity. The evolutionary interpretation regards the market economy as an adaptive, self-organizing, and evolving process while the science of complexity studies the endogenous emergence of patterns and structures in complex systems. The invisible hand provides an intellectual and historical backdrop for the complexity science while certain tools and techniques in complexity have helped economists gain a deeper understanding of the market process and gaze at the invisible hand.","PeriodicalId":38602,"journal":{"name":"History of Economic Ideas","volume":"17 1","pages":"147-165"},"PeriodicalIF":0.0,"publicationDate":"2009-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"66583103","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":"The Economics of Financing Firms : Two Different Approaches","authors":"G. Bertocco","doi":"10.1400/113199","DOIUrl":"https://doi.org/10.1400/113199","url":null,"abstract":"Up to a few years ago, macroeconomic theory did not pay any attention to the topic of firm financing, This situation has changed in recent years thanks to the development of a theoretical approach that has applied the conclusions of information economics to the analysis of the working of the financial markets. This approach does not constitute the only theoretical framework which gives prominence to the issue of firm finance; a meaningful theory could be elaborated on the basis of the works of Keynes and Schumpeter. The aim of this paper is to highlight the most significant differences between these two approaches; it will be shown that the distinctive element of the asymmetric information approach is the return to the principle of the neutrality of financial variables. In contrast, the Keynes-Schumpeter approach underlines that bank money, banks and credit market are elements that mark an economy that is completely different from the pure exchange economy to which the principle of the neutrality of the financial variables is applied. The paper shows the reasons why the Keynes-Schumpeter approach seems more suitable to analyse the evolution of modern economies.","PeriodicalId":38602,"journal":{"name":"History of Economic Ideas","volume":"141 1","pages":"85-123"},"PeriodicalIF":0.0,"publicationDate":"2009-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"66582179","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":"Half a Century from the Rome Treaty to the Financial Stability Forum","authors":"A. Zanni","doi":"10.1400/113205","DOIUrl":"https://doi.org/10.1400/113205","url":null,"abstract":"A review essay of Ivo Maes, Half a Century of European Financial Integration. From the Rome Treaty to the 21st Century, Brussels, Mercatorfonds, 2007, pp. 128.","PeriodicalId":38602,"journal":{"name":"History of Economic Ideas","volume":"17 1","pages":"209-213"},"PeriodicalIF":0.0,"publicationDate":"2009-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"66582282","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":"Transforming the Economy : Saint-Simon and his Influence on Mazzini","authors":"R. Faucci, A. Rancan","doi":"10.1400/113213","DOIUrl":"https://doi.org/10.1400/113213","url":null,"abstract":"In this paper the main topics of Saint-Simon’s thought are reviewed, with special attention to his conception of social classes and hierarchies, his notion of capitalist leadership, and his foreseeing of the future fabric of society. In Italy, however, rather than the master’s thought, it was his disciples’ ideas that became widespread throughout the Risorgimento years. In particular, Giuseppe Mazzini rejected the materialistic foundation of Saint-Simonism, but accepted its critique of classical political economy, which Mazzini identified with selfishness and excessive competition. A parallel critique of utilitarianism is part of Mazzini’s thought.","PeriodicalId":38602,"journal":{"name":"History of Economic Ideas","volume":"17 1","pages":"1000-1027"},"PeriodicalIF":0.0,"publicationDate":"2009-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"66582296","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":"The Marshallian entrepreneur","authors":"A. Karayiannis","doi":"10.1400/121160","DOIUrl":"https://doi.org/10.1400/121160","url":null,"abstract":"Entrepreneurship is a broad topic of research, beginning with the analysis of Richard Cantillon in the mid-eighteenth century and extending into modern times with the inclusion of psychological, sociological and historical exegeses. Within such a modern approach to entrepreneurship lies Alfred Marshall’s relevant theory. His analysis begins with an examination of the fundamental entrepreneurial functions, proceeds to the establishment of an enterprise and extends to entrepreneurial motives, personal characteristics and the justification of profit as a special reward. This paper examines the Marshallian elements of entrepreneurship and presents the case that Marshall was the first economist to analytically advance an adequate entrepreneurial theory incorporating multidisciplinary factors. Also, it will be shown that he had developed ideas and arguments many of which have been recently advanced more fully theoretically and/or verified by recent empirical investigations.","PeriodicalId":38602,"journal":{"name":"History of Economic Ideas","volume":"17 1","pages":"75-102"},"PeriodicalIF":0.0,"publicationDate":"2009-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"66583537","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":"Redeemed by History","authors":"Thomas C. Leonard","doi":"10.1400/113202","DOIUrl":"https://doi.org/10.1400/113202","url":null,"abstract":"A review essay on Thomas K. McCraw, Prophet of Innovation: Joseph Schumpeter and Creative Destruction, Cambridge (MA), Harvard University Press, 2007, pp. xii-720.","PeriodicalId":38602,"journal":{"name":"History of Economic Ideas","volume":"17 1","pages":"1000-1007"},"PeriodicalIF":0.0,"publicationDate":"2009-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"66582237","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":"A Revolution yet To Be Accomplished: Reviewing Luigi Pasinetti, Keynes and the Cambridge Keynesians","authors":"G. Harcourt","doi":"10.1057/9780230348646_10","DOIUrl":"https://doi.org/10.1057/9780230348646_10","url":null,"abstract":"","PeriodicalId":38602,"journal":{"name":"History of Economic Ideas","volume":"17 1","pages":"203-208"},"PeriodicalIF":0.0,"publicationDate":"2009-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"58212961","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":"Alfred Marshall and J. Neville Keynes on Deductive Economics and Economic Biology (ca. 1885-1907)","authors":"C. Cristiano","doi":"10.1400/113197","DOIUrl":"https://doi.org/10.1400/113197","url":null,"abstract":"In spite of some disagreement with Neville Keynes on various methodological issues, from the second to the fourth editions of Principles, Marshall referred the reader to Keynes’s The Scope and Method of Political Economy «for a more full and detailed investigation of the subject». As time passed, however, Marshall became increasingly aware that an incorrect interpretation of the hypothetico-deductive method, which he considered to be in itself essential to the statical and «preliminary» stage of economic analysis, was becoming a hindrance to fair reception of his own research programme, aimed at the development of «economic biology».","PeriodicalId":38602,"journal":{"name":"History of Economic Ideas","volume":"17 1","pages":"1000-1024"},"PeriodicalIF":0.0,"publicationDate":"2009-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"66582109","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":"Criminology and Economic Ideas in the Age of Enlightenment","authors":"F. Simon","doi":"10.1400/121157","DOIUrl":"https://doi.org/10.1400/121157","url":null,"abstract":"My purpose is to point out that during the age of Enlightenment, and its later nineteenth- century expressions, the most relevant works on law contain examples of economic ideas about criminal phenomena and their legal repression. I will comment the analytic conclusions which the authors of the time got to, with reference to specific questions such as the definition of crime, the determination of punishment, the judicial procedure. I will take into account some of the most representative European writers: Montesquieu, Beccaria and Bentham. The authors I selected share the characteristic of being all exponents of utilitarianism and of presenting elements which forerun neoclassical economics in the method and analysis they employ. Besides, they have all worked out models for criminal repression which are quite similar to the contemporary model conceived by Gary Becker.","PeriodicalId":38602,"journal":{"name":"History of Economic Ideas","volume":"17 1","pages":"11-39"},"PeriodicalIF":0.0,"publicationDate":"2009-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"66583518","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":"Some Papers of Pareto from the French and German","authors":"J. Chipman","doi":"10.1400/113200","DOIUrl":"https://doi.org/10.1400/113200","url":null,"abstract":"","PeriodicalId":38602,"journal":{"name":"History of Economic Ideas","volume":"17 1","pages":"125-186"},"PeriodicalIF":0.0,"publicationDate":"2009-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"66582197","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}