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on History and Philosophy of Economics |
| By: | Annie L. Cot (Centre d'Economie de la Sorbonne, Université Paris 1 Panthéon-Sorbonne, REhPERE) |
| Abstract: | In France, Charles Gide had been the first economist to analyse Marx's theses in depth. Translated into French by Joseph Roy, proofread by Marx and published in the form of fascicles by the publisher Maurice Lachâtre between 1872 and 1875. Book I of Capital met with a somewhat unexpected reception. An initial review of the German version, by the philosopher Eugène de Roberty, appeared in the columns of Emilie Littré and Grégroire Wyrouboff's journal La Philosophie Positive. Two economists close to the Guillaumin publishing house, Maurice Block and Emilie de laveleye, then commented it. But beyond these early exchanges, Marx's theories were ignored in French academic debates until Charles Gide's close analytical presentation of them more than two decades later. In accordance with the reading grid he claimed in his Histoire des doctrines économiques, Gide proposed a dual reading of Capital: one in terms of "theories" and one in terms of "doctrines". Janus bifrons: on the one hand, the academic texts, which reproduce the logical rigour of Book I of Capital; on the other, the texts of a citizen involved in the ooperative movement and solidarism, close to the pre-Marxist French socialists. As Jean Starobinski puts it, this dual perspective requires us to "shift the point of application of historical attention", and to analyse these two postures as embodying what the Konstanz School calls two "horizons of expectation" articulated here not diachronically, as in Hans-Robert Jauss, but synchronically |
| Keywords: | Karl Marx; Charles Gide; Collège de France; French socialism; Horizon of expectation; Hans-Robert Jauss |
| JEL: | B10 B14 B31 A12 |
| Date: | 2024–11 |
| URL: | https://d.repec.org/n?u=RePEc:mse:cesdoc:24012 |
| By: | Richard N. Langlois (University of Connecticut) |
| Abstract: | Edith Penrose was far from underappreciated in management theory, where she was considered the inspiration for more than one research program. But she was virtually unknown in economics, the discipline in which she was trained and in which she considered herself to be working. This essay chronicles the life and work of Edith Penrose. It examines the streams of thought she influenced – and didn’t influence. As a special bonus, the essay also considers another underappreciated economist, George Richardson, who built on Penrose’s work and overcame some of its limitations. Following Brian Loasby, the essay ultimately argues for understanding Penrose and Richardson as industrial organization economists in the tradition of Adam Smith and Alfred Marshall. |
| JEL: | B25 B31 B52 B53 L2 L65 O32 |
| Date: | 2024–12 |
| URL: | https://d.repec.org/n?u=RePEc:uct:uconnp:2024-05 |
| By: | Davis, John B. (Department of Economics Marquette University); (Department of Economics Marquette University) |
| Abstract: | This paper investigates philosophy’s engagement with one social science, economics, via the philosophy of economics. It first distinguishes mainstream philosophy of economics and heterodox/non-mainstream philosophy of economics, and then argues that the latter’s increasing recourse to analytical reasoning in philosophy to advance its critiques of mainstream economics points toward a new engagement between philosophy of economics and philosophy. To provide grounds for this argument, the paper discusses shared thinking of three key figures: philosophy’s Derek Parfit and from economics Herbert Simon and Amartya Sen. It argues their respective critiques of dominant ideas in their fields reflect a little discussed convergence in thinking between philosophy and economics through heterodox/non-mainstream philosophy of economics. This convergence is argued to reflect a shared commitment to one philosophical conception of temporal sequences, namely, the past-present-future as opposed to the before-after sequence. Philosophy’s future engagement with economics as a social science, the paper concludes, builds on the role this conception plays in both in the future. |
| Keywords: | philosophy of economics, mainstream, heterodox/non-mainstream, Parfit, Simon, Sen, temporal science |
| Date: | 2024–12 |
| URL: | https://d.repec.org/n?u=RePEc:mrq:wpaper:2024-05 |
| By: | Giovanni Scarano |
| Abstract: | This paper argues that the concern to determine the rate of profit, attributed by the modern surplus approach to the classics, was not the main focus in most classical authors before Ricardo and certainly did not have a central place in Marx’s analysis. According to Marx, a uniform rate of profit was only one way to determine the distribution of surplus value among the owners of capital, while the distribution of income among capitalists and workers was strictly determined by the rate of surplus value. Marx did not use his own version of the labour theory of value to determine the rate of profit and production prices, but to analyse the dynamics of economic aggregates and bring to light the inner social nature of production and distribution processes. In this context, Marx’s rate of profit was only an aggregate measure of the maximum potential growth rate. |
| Keywords: | surplus approach, classical economists, rate of profit, rate of interest, prices of production |
| JEL: | B14 B24 B51 C67 |
| Date: | 2024–12 |
| URL: | https://d.repec.org/n?u=RePEc:rtr:wpaper:0284 |
| By: | Masazumi Wakatabe (Faculty of Political Science and Economics, Waseda University) |
| Abstract: | Capitalism is in trouble, or so have we been told. What could we learn from Adam Smith about the future of capitalism? I argue that Adam Smith has a lot to teach us about the future of capitalism. I first examine recent discussions about the current challenges and criticisms against capitalism such as the productivity slowdown, the waning competition, the role of globalization, the rising inequality and climate change. Through this exercise, I emphasize that there are indeed some global trends, but there are also important national and regional differences reflecting differences in institutions and policy; in this sense, not only natural scientific technology but also social scientific technology, i.e. governance, policy and institutions, matter. Then, I argue that what Smith could teach us on in five aspects. First, it should be noted that Adam Smith conceived a truly inclusive capitalism: he took income distribution into account when he argued for the desirability of economic development. Secondly, an inclusive capitalism requires broad knowledge formation and sharing among the people. Smith’s inclusive capitalism is based on the division of labor principle, markets or broad exchange basis to foster the division of labor, and policy measures to alleviate side effects of the division of labor. Thirdly, the expansion of exchange and trade has beneficial effects, but we should be aware of its distributional consequences. Fourthly, institutions matter. Markets are the most fundamental institutions, but it is imperative to preserve competition in markets, especially free entry. Fifthly, proper law and institutions are essential to the well-functioning market economy, the “system of natural liberty”. However, the “system of natural liberty” is not automatically achieved. Policy and institutions are history dependent, therefore history matters. Here “relatively cautious sense of progress” of the Scottish enlightenment thinkers including Smith should be reminded of. |
| Keywords: | : Adam Smith; inclusive capitalism; competition; economic development; institutions |
| Date: | 2024–11 |
| URL: | https://d.repec.org/n?u=RePEc:wap:wpaper:2407 |
| By: | Tom Coupé (University of Canterbury); Thomas Logchies; W. Robert Reed (University of Canterbury) |
| Abstract: | There is a widespread belief that replication studies are less cited than original research. This study introduces three counterfactual approaches for measuring the citations that an author or a journal would have received had they produced a non-replication study. Two of the measures are designed to measure citation incentives from the perspective of authors. One measure focuses on the perspective of journals. We collect data on 428 replications in economics published between 1958 and 2021 and assess whether these are cited less frequently than their matched counterfactuals. We obtain a wide range of estimates. Our preferred estimates use the ratio of citations of a replication to the citations of its matched counterfactuals. Using this measure, we estimate citation penalties as large as 51% and citation benefits as great as 227%. Most replications receive fewer citations than their matched counterfactuals, but a sizable portion, and sometimes even a majority, receive more. Finally, there is some evidence that replications that do not fully support the original study have more favorable citation rates than those that confirm the original study. While our analysis does not produce an unambiguous answer to whether replications receive less citations than their counterfactuals, it does revise the widely held, one-sided view that replications receive fewer citations. |
| Keywords: | Replications, Citations, Incentives, Academic Publishing |
| JEL: | A10 A14 B41 C80 |
| Date: | 2024–12–01 |
| URL: | https://d.repec.org/n?u=RePEc:cbt:econwp:24/18 |
| By: | Kunze, Astrid (Dept. of Economics, Norwegian School of Economics and Business Administration) |
| Abstract: | On 9 October 2023, Claudia Goldin was announced as winner of the 2023 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel. It can certainly be said that many had long awaited the recognition of her research on women and inequality in labour markets. Goldin is a labour economist and economic historian who has shed new light on economic questions related to gender equality, particularly through historical data. This article summarises some of her major contributions to our understanding of the labour market behaviour of women and gender inequality. |
| Keywords: | gender; labour market; wages; employment; discrimination; equal pay for equal work; gender segregation; labour demand and supply |
| JEL: | J10 J20 J23 |
| Date: | 2024–12–03 |
| URL: | https://d.repec.org/n?u=RePEc:hhs:nhheco:2024_019 |
| By: | Ivan Colangelo Salomao; Victor Cruz-e-Silva |
| Abstract: | The pathway covered by liberalism in Brazil is winding. As an ideology imported from the European bourgeoisie, it found in a colonized country the appropriate environment for its advancement, even if contiguous to its antinomy, that is, nationalism. Particularly, within the Brazilian state of Rio Grande do Sul, liberalism, obliquely absorbed by the Brazilian elite, oligarchies employed liberalism in an even more instrumental, and rather contradictory, way, if compared with the rest of the country. Liberalism, therefore, experienced a particular history within Rio Grande do Sul, where several conflicts were waged on its behalf. Accordingly, this paper aims at rescuing the history of liberalism in southern Brazil by reconstructing such conflicts—and the liberal element at its bottom: the Farroupilha Revolution (1835-1845), the Federalist Revolution (1893-1895), and the 1923 War. |
| Keywords: | Liberalism; Rio Grande do Sul; Farroupilha Revolution; Federalist Revolution; Liberal Alliance |
| JEL: | B19 N46 N96 |
| Date: | 2024–12–10 |
| URL: | https://d.repec.org/n?u=RePEc:spa:wpaper:2024wpecon30 |
| By: | Barron, Kai; Stüber, Robert; van Veldhuizen, Roel |
| Abstract: | An extensive literature documents that people are willing to sacrifice personal material gain to adhere to a moral motive. However, less is known about the psychological mechanisms that operate when two moral motives come into conflict. We hypothesize that individuals adhere to the moral motive that aligns with their self-interest. We test this hypothesis using experiments that induce a conflict between two of the most-studied moral motives: fairness and truth-telling. Consistent with our hypothesis and across experiments, our results show that individuals do prefer to adhere to the moral motive that is more aligned with their self-interest. |
| Keywords: | Moral dilemmas, Dictator game, Lying game, Motives, Motivated reasoning |
| JEL: | C91 D01 D63 D90 |
| Date: | 2024 |
| URL: | https://d.repec.org/n?u=RePEc:zbw:wzbeoc:306849 |