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Has there been anyone since the philosopher Thales that has held an extremely detached view of money, and also found innovative ways to profit?

According to legend anyway (ie Aristotle's account), Thales was a business man of his time! On the motive Thales had for attaining material possession, Aristotle held that Thales was only out to prove ...
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2k views

Has Trickle-Down economics ever worked?

With "trickle-down economics" on the tongue of Americans this year, I wanted to do some research. The prevailing opinion is "trickle-down economics doesn't work." I can find many resources which ...
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40 views

When in the history the governments issued non-cash money first?

I understand that the Federal Reserve is issuing money in the form of deposits. Those deposits "are not cash but they are money: they can be used for payment (at which point they become somebody else'...
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54 views

Is the average age of economists getting higher than it was many years ago?

I read Hamermesh's 2012 paper, "Six Decades of Top Economics Publishing: Who and How?". He collected the data from QJE, AER and JPE. It seems that the average age of economists is now higher than it ...
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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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38 views

Maximum wage laws in mercantilist France

One John K Williams (1986) writes that in mercantilist France, The government actually imposed maximum wage laws. Any employer who paid wages above a legally defined ceiling was charged with an ...
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16 views

Delaying wages in response to slack?

I'm reading a book about the economic development of South Korea during the 'miracle' period. One of the points the author makes is the following: A major source of industrial disputes was ...
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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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59 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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18 views

References on foreign ownership of domestic assets

In Piketty's Capital in the 21st Century, he occasionally analyzes the ownership of domestic assets by foreign countries. On p. 192, he writes: Japan and Germany have accumulated quite significant ...
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21 views

To what extent did tsetse fly affect African development today?

Based on the fact that the insect is unique to African ecology and its impact both on humans and livestock, can it be argued that the lag of Africa's development today is at least partially due to the ...
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17 views

Did Johnson and Johnson really pay a 25% quarterly dividend in 1978?

I looked through some of the old Dow Jones stocks for a project I'm working on and found some inconsistency with JNJ stocks. Basicly for a share price of $1.66 they appeared to pay \$0.42 in quartely ...
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10 views

Japanese savings glut vs capital adequacy issues in 1990s

If Japan had a huge savings glut in the 1990s, even during the financial downturn years, why were traditional banks and lenders struggling to meet the new capital adequacy requirements, under the 'Big ...
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24 views

Did Eisenhower, and his economic team, use a Keynesian economic policy, or a modified form, or not at all?

There is a big debate about this in my graduate political/economic history class. Any input will be appreciated, as well as suggested books or peer-reviewed journal articles. Thank you.
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1answer
48 views

What is “industrial capitalism”?

What's the difference between "industrial capitalism" and "agrarian capitalism" and "mercantilism" and the "industrial revolution" and the 20th century ideas of "Keynesianism"? Is agrarian capitalism-...