1. Some observations on the imputation problem (1926) -- 2. On the problem of interest theory (1927) -- 3. Utility analysis and interest (1936) -- 4. Capital consumption (1932) -- 5. Saving (1934) -- 6. On the relationship between investment and output (1934) -- 7. Professor Hayek and the theory of investment by Frank H. Knight (1935) -- 8. The mythology of capital (1936) -- 9. Technical progress and excess capacity (1936) -- 10. The maintenance of capital (1935) -- 11. Maintaining capital intact by A.C. Pigou (1941) -- 12. Maintaining capital intact : a reply (1941).
Zugriffsoptionen:
Die folgenden Links führen aus den jeweiligen lokalen Bibliotheken zum Volltext:
The Clash of Economic Ideas interweaves the economic history of the last hundred years with the history of economic doctrines to understand how contrasting economic ideas have originated and developed over time to take their present forms. It traces the connections running from historical events to debates among economists, and from the ideas of academic writers to major experiments in economic policy. The treatment offers fresh perspectives on laissez faire, socialism and fascism; the Roaring Twenties, business cycle theories and the Great Depression; Institutionalism and the New Deal; the Keynesian Revolution; and war, nationalization and central planning. After 1945, the work explores the postwar revival of invisible-hand ideas; economic development and growth, with special attention to contrasting policies and thought in Germany and India; the gold standard, the interwar gold-exchange standard, the postwar Bretton Woods system and the Great Inflation; public goods and public choice; free trade versus protectionism; and finally fiscal policy and public debt
Zugriffsoptionen:
Die folgenden Links führen aus den jeweiligen lokalen Bibliotheken zum Volltext:
AbstractProminent economists have supposed that the private production of full‐bodied gold or silver coins is inefficient: due to information asymmetry, private coins will be chronically low‐quality or underweight. An examination of private mints during gold rushes in the US in the years 1830–63, drawing on contemporary accounts and numismatic literature, finds otherwise. While some private gold mints produced underweight coins, from incompetence or fraudulent intent, such mints did not last long. Informed by newspapers about the findings of assays, money‐users systematically abandoned substandard coins in favour of full‐weight coins. Only competent and honest mints survived.
Abstract:I critically consider four purported economic-efficiency arguments for egalitarian redistribution of income or wealth. (1) Jeremy Bentham's "greatest aggregate happiness" criterion has been used (by Bentham, John Stuart Mill, Alfred Marshall, A. C. Pigou, Abba Lerner, and more recently Richard Layard) to argue for wealth transfers toward the poor based on the supposition that they register higher happiness from a marginal dollar. Drawing from Vilfredo Pareto and Lionel Robbins, however, I argue that modern economic theory is not about individual happiness, let alone aggregate happiness, and therefore does not support (nor refute) any happiness-based case for wealth redistribution. (2) Theories based on a "social welfare function" misapply the economic way of thinking in a different way. (3) Other writers have framed redistribution as a public good, and public goods provision by the state as a voluntary collective means of satisfying individual preferences, thereby using modern economic theory to formulate a rationale for redistributive policies based on Pareto-efficiency. I criticize this rationale for resting on suppositions about actual preferences that are self-immunized against falsification. (4) James Buchanan made a related case for taxing inheritances based on the supposition that in constitutional deliberation behind a veil of ignorance we would agree to such a policy based on our preference for a certain kind of fairness. I find this argument non-economic, equally unfalsifiable, and no more plausible than alternative suppositions about our common preferences. The economic way of thinking does speak clearly, however, about how taxes on income or wealth discourage its production, the more so the higher the marginal tax rate.
