Suchergebnisse

The paper shows the current state of environmental concerns in economic theory. Different economic schools have incorporated the environmental analysis into their theoretical framework. They use different presumptions, focus on different environmental aspects & come to diverse conclusions & political recommendations. However, there are many unclear frontiers between one another. This paper would like to help to understand these differences. It characterizes & compares the main economic schools & theories. The paper focuses on environmental economics, ecological economics, new institutional economics, free market environmentalism, coevolutionary theory in economics & bioeconomics. References. Adapted from the source document.

The article argues that many failures of economic policies, especially in the developing world, are accountable to the methodological biases of the underlying mainstream economic science. While the new institutional and development economics have substantially improved economic models, they still rely on the neoclassical assumptions of methodological individualism and utilitarism. Therefore, they cannot fully grasp the gender and cultural aspects of the societies living in developing countries, the dynamic character of their economies and their embedment in the natural, social and institutional environment. These scientific biases are analysed from the standpoint of four heterodox economic schools: those of feminist economics, evolutionary economics, ecological economics, and economic anthropology. The subsequent failure of the economic policies is documented by the cross-cutting example of the Structural Adjustment Programmes of the Bretton Woods institutions. The article concludes by emphasizing the common points of the heterodox schools and advocating for a methodological plurality in the Czech economic research and education. Adapted from the source document.

The article deals with monetary disequilibrium in the theory of endogenous money. In new consensus economics, monetary disequilibrium is not considered whereas money is endogenous and passive. In post-Keynesian economics, there is an explicit discussion about reconciliation of money demand and supply. Based on careful distinction between money and credit markets, it is argued that monetary disequilibrium can occur even when money is endogenous and therefore money is endogenous and active. This is because of insufficiency of reflux mechanism. The article suggests ways in which new consensus should be supplemented to incorporate this issue. This is also important for monetary policy otherwise a part of transmission mechanism is left out. Adapted from the source document.

The paper is concerned with the economic theory of George Stigler. First part outlines the life of George Stigler. Second part examines his dissertation "Production and Distribution Theories" (1941). Third part discusses his textbook "The Theory of Price" (1946). Fourth part is devoted to his "Essays in the History of Economics" (1965). Fifth part analyzes the work "The Organization of Industry" (1968). Sixth part explains "The Theory of Economic Regulation" (1971). Seventh part discusses Stigler's book "The Citizen and the State" (1975). Eighth part presents his autobiography "Memoirs of an Unregulated Economist" (1988). Stigler has become famous thanks to articles "Economics of Information" (1961) and "Theory of Economic Regulation" (1971), which says that interest groups and other political participants will use the regulatory and coercive powers of government to shape laws and regulations in a way that is beneficial to them. Adapted from the source document.

The essay deals with the development of theory in development economics as a subdiscipline of international economics, within the context of general economic theory. Although some authors believe that it started to develop during the 19th century (as some Latin American countries gained their independence at this time), most authors connect its origin with the decolonization process of the 1950s. The first part describes its rather "naive" beginnings, when it was believed that it is possible to discover a universal theory applicable to the whole "third world" -- such as theories of vicious circles of poverty, the best ways & tools for breaking them, etc. The second phase of development economics, spanning approximately 1970-1990, was characterized by disillusionment & produced a lot of mostly analytical works dealing with partial problems. The third stage (1990-present) has been characterized by a growing demand for the so-called new synthesis. As the authors believe, such a goal would be very difficult to achieve, but in essence, it is achievable by means of joint efforts based on the Millennium Development Goals, changes of international economic & political relations systems & changes in a wide range of global issues. Adapted from the source document.

The purpose of this paper is to analyze awarded scientific degrees at the University of Economics, Prague (EUP) in the fifties of 20th century. Methodological approaches of economic, social, cultural and political history, economics and statistics were pursued and required in this study. An interdisciplinary approach that enabled further determination of factors will serve as the approach for all subsequent research of the UEP position in science in the fifties of the 20th century. Yet untapped primary sources from UEP Scientific Council Meetings were used, also published sources, newspapers, etc. We came to the conclusion that UEP failed to significantly increase the number of professors and associate professors in the first seven years of its existence. The reasons behind were: 1) Policy of the Communist leadership that followed cadre policies which frustrated many personalities and prevented them a chance to work for universities. 2) Only highly politically reliable teachers were awarded. 3) Bureaucratic apparatus rigidity and poor flexibility of the Ministry of Education and the State Committee for Scientific Degrees. 4) Ongoing continual changes in laws and regulations. 5) Lack of experienced teachers who had also been overwhelmed with paperwork and various out of university activities so they had little time to immerse in intense research activity. Analysis showed that some of the preferred fields after 1948 such as political economy were not preferred at the expense of others. Adapted from the source document.

The authors of the paper discuss reasons as well as current stage of the regulation of the financial (mostly banking) sector. They are not in favor of strict rejection of the regulation, but they are not in favor of strong regulation of the financial sector either. The article is based on the economic theory that there are objective economic reasons as well as specific financial features which cannot recommend and provide clear, simple, and unilateral solution about what level of regulation is appropriate in the financial market. The authors offer some economic ideas that can be useful for preparing and evaluating new regulation of the banking sector. The paper also defines theoretical assumptions of an ideal financial system. Based on those assumptions, the authors formulate and describe problems of real working financial (banking) system, and these problems create necessary condition, but not sufficient condition for imposing regulation. Finally, the paper describes and discusses impacts of concrete new banking regulatory proposals (increasing capital requirements, creating conservation and countercyclical capital buffers, calculating leverage ratio and liquidity ratio, and imposing bank levy). Adapted from the source document.