Questions tagged [history-economic-thought]

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Which classical liberal economists promoted the privacy and secrecy of businesses?

Quinn Slobodian (2018) writes: the idea of businessmen opening their account books beyond the firm represented a revision of the classical liberal vision. The privacy of the businessman was no ...
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39 views

Meaning of “let him take Money at Interest, and not buy at Time”

Dudley North (1691): let him take Money at Interest, and not buy at Time What does the above statement mean? I think "take Money at Interest" simply means "borrow at some interest rate". But I ...
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201 views

How empirical was Adam Smith's The Wealth of Nations? What about some other “big books”?

How empirical was Adam Smith's The Wealth of Nations? What about some other "big books"? That is, how much empirical research does it contain? And thus, what kind of "epistemological accuracy" does ...
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29 views

The envelope theorem and Viner's draftsman

In 1931 Viner wrote the paper "Cost Curves and Supply Curves" that famously contained the following mistake: Viner had asked the draftsman to draw the long run average cost curve so that it was ...
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29 views

Who was the first to model sequential market equilibrium?

As a PhD student the standard macroecononomics education I have received (and continue to receive) revolves around the most realistic model of market structure ive seen to date, that being sequential ...
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18 views

Was there a time when economists “generally described” the 1920s “as being years of increasing protectionism”?

In Paul Bairoch's Economics & World History - Myths and Paradoxes (1993), the very first myth he tackles is this: the 1920s are generally described as being years of increasing protectionism. ...
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61 views

Greek mathematics' application in the early economic theories

I am writing about the development of mathematics in the Ancient Greece as an assigment and I have to include its relation with economics. However, I lack of sources for this topic and I only found ...
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134 views

Business climate data collection experiments

Hernando de Soto in his book "The Mystery of Capital: Why Capitalism Triumphs in the West and Fails Everywhere Else" describes a series of experiments in different countries, illustrating economic ...
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53 views

Origin of the saying “High prices are their own cure.”

Edwin Cannan (1915): An old epigram says that high prices are their own cure. Other variants of this "old epigram" include: High prices cure themselves (1911). High prices cure high prices ...
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62 views

What are some great economic reforms from the Middle Ages / the Ancient History?

Is there any great economic structural reforms, which date back to the Middle Ages or to the Ancient times?
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64 views

How much of previous economics (historically) is still relevant today?

How much of previous economics (historically) is still relevant today? How is it determined? Is e.g. 18th century economics still relevant today? Is it accurate/useful to cite Adam Smith for example?...
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1k views

What evidence is there that Adam Smith made mistakes in criticizing Mercantilism and upholding capitalism?

This commentator writes: On March 9, 1776, "An Inquiry into the Nature and Causes of the Wealth of Nations" (commonly referred to as simply "The Wealth of Nations") was published. Smith, a Scottish ...
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56 views

What is the “natural rate of interest” vs. “money interest rate”?

What exactly is the distinction that Knut Wicksell made in his Interest & Prices between "natural rate of interest" or "natural interest" ("der natürliche Kapital zins") and the "money rate of ...
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36 views

Why has this type of research fallen out of grace?

I am reading Dasgupta's Very Short Introduction to Economics. He talks about culture. Specifically the work of Max Weber trying to explain the influence of protestant ethic on the rise of capitalism. ...
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8 views

What are the factors on which value of all resources ( good, silver, cash land etc. ) found in world changes over time?

And followed by, Does it right to say that, if any country become rich then other must become poor and vice-versa. If no, then Is it possible that, in certain conditions, all Nation in the world can ...
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132 views

Who owns money?

Bishop Nicole Oresme (1320-1382), in the first monetary treatise, wrote: CHAPTER VI: Who owns the Money? (Cuius sit ipsa moneta?) Although it is the duty of the prince to put his stamp on the ...