EDMOND MALINVAUD’S CRITICISMS OF THE NEW CLASSICAL ECONOMICS: RESTORING THE NATURE AND THE RATIONALE OF THE OLD KEYNESIANS’ OPPOSITION

2020 ◽  
Vol 42 (4) ◽  
pp. 563-585
Author(s):  
Matthieu Renault
Keyword(s):  
Classical Economics ◽  
History Of ◽  
Macroeconometric Modeling

Unlike standard accounts, recent research in the history of macroeconomics has given increasing attention to the Old Keynesians’ criticisms of the New Classical Economics. In this paper, I address the case of Edmond Malinvaud, who began opposing the New Classical Economics from the early 1980s and did so throughout the following thirty years. This study shows that his opposition was radical, i.e., multi-dimensional and systematic, and owes to the methodology and the practice of macroeconometric modeling. In turn, this twofold result sheds light on the nature and the rationale of the Old Keynesians’ opposition to the New Classical Economics from the 1970s onwards, which can be interpreted along the same lines.

scholarly journals Journal of the History of Economic Thought Preprints – Edmond Malinvaud's Criticisms of the New Classical Economics: Restoring the Nature and the Rationale of the Old Keynesians' Opposition

2020 ◽  
Author(s):  
Matthieu Renault
Keyword(s):  
Economic Thought ◽  
History Of Economic Thought ◽  
Classical Economics ◽  
History Of ◽  
Macroeconometric Modeling

Unlike standard accounts, recent research in the history of macroeconomics has given increasing attention to the Old Keynesians’ criticisms of the New Classical Economics. In this paper, I address the case of Edmond Malinvaud, who began opposing the latter from the early 1980s and did so throughout the following thirty years. This study shows that his opposition was radical, i.e., multidimensional and systematic, and owes to the methodology and the practice of macroeconometric modeling. In turn, this twofold result sheds light on the nature and the rationale of the Old Keynesians’ opposition to the New Classical Economics from the 1970s onwards, which can be interpreted along the same lines.

scholarly journals Attributes of turnaround rural hospitals: Case study findings and research opportunities

2017 ◽  
Vol 6 (6) ◽  
pp. 8
Author(s):  
Asa B. Wilson
Keyword(s):  
Theory Of The Firm ◽  
Access Point ◽  
Hospital Performance ◽  
Rural Hospitals ◽  
Rural Hospital ◽  
Classical Economics ◽  
The Status ◽  
History Of ◽  
Closure Conversion ◽  
The Impact

Background: Rural and Critical Access Hospitals (CAHs) have a history of operating challenges and closure-conversion threats. The history is reviewed including the supportive public policy provisions and administrative tactics designed to maintain a community’s hospital as the hub and access point for health services. Limited research indicates that rural facilities are not strategic in their responses to challenges. A question emerges regarding the enduring nature of operating difficulties for these facilities, i.e., no understanding with explanatory value.Objective: The author, as the CEO in six rural hospitals designated as turnaround facilities, used inductive participant-observer involvement to identify operating attributes characteristic of these organizations. An objective description of each facility is provided. While implementing a turnaround intervention, fifteen behaviors or outcomes were found to be consistent across all six entities. This information is used to posit factors associated with or accounting for identified performance weaknesses.Conclusions: It is conceptualization that observed organizational behaviors can be explained as remnants of an agrarian ideology. Such a mindset is focused on preserving the status quo despite challenges that would require strategic positioning of the organization. In addition, emerging studies on community types indicates that follow-up research is needed that assesses the impact of community attributes on rural hospital performance. Also, this study shows that a theory of the rural hospital firm based on neo-classical economics has no explanatory value. Thus, a theory of the firm can be developed that includes behavioral economic principles.

W. T. Thornton: Savant, Idiot, or Idiot-Savant?

1997 ◽  
Vol 19 (1) ◽  
pp. 1-23 ◽  
Author(s):  
Robert B. Ekelund
Keyword(s):  
Economic Thought ◽  
History Of Economic Thought ◽  
Classical Economics ◽  
The Status ◽  
History Of

Renewed interest has been kindled in the status and “meaning” of William T. Thornton (1813–1880) in the history of economic thought. Thornton is often credited, rightly or wrongly, with re-orienting J. S. Mill's thought on the wages fund—a critical cornerstone of classical economics. While Thornton's actual influence on Mill in this matter

scholarly journals The History of Macroeconometric Modeling

2019 ◽  
Vol 51 (3) ◽  
pp. 391-400 ◽  
Author(s):  
Marcel Boumans ◽  
Pedro Garcia Duarte
Keyword(s):  
History Of ◽  
Macroeconometric Modeling

The Strange Life and Presumed Death of Homo Economicus

2018 ◽  
pp. 136-145
Author(s):  
Michael Harkin
Keyword(s):  
Social Class ◽  
Personal Identity ◽  
Consumer Choice ◽  
Group Membership ◽  
Electoral Politics ◽  
Economic Anthropology ◽  
Homo Economicus ◽  
Classical Economics ◽  
Craft Beer ◽  
History Of

This essay traces the history of economic anthropology as a critique of classical economics, focusing primarily on two issues: reciprocity and the cultural valuation of goods. Both areas provide strong counter-evidence to the model of Homo economicus. Additionally, an analysis of consumer-based subcultures, focusing primarily on craft beer, is carried out. Finally, links between consumer choice, personal identity and group membership, social class, and electoral politics in the Age of Trump, are suggested.

scholarly journals Evolution Framework of the Classical Economics of Urbanization

2018 ◽  
Author(s):  
Yin Wu
Keyword(s):  
Economic Growth ◽  
Growth And Development ◽  
Case Analysis ◽  
Development Trend ◽  
Classical Field ◽  
Policy Makers ◽  
Classical Economics ◽  
The World ◽  
History Of ◽  
Urbanization Development

<pre>The urbanization is a process, but also a period of history; in theory, the classical economists had paid attention to the importance of urbanization on economic growth, also to examine those confusion in the growth and development of urbanization which facing the "dust, mud, swamp, jungle". What kind of urbanization need we pursuit? Petty, Smith, Marx, Marshall, Lewis, Yang Xiaokai and Harvey respectively researched from the different perspective of the development of urbanization in their view, this paper will be integrated into urbanization of the classical school of Architecture, and in time for the " longitude", the division of labor is the "latitude", depicts the main theory clues of urbanization by classical field which these scholars have analyzed. Overall, the urbanization problems encountered in the world today, which the classical economists have more or less analyzed or even if forecast and put forward appropriate solutions. It is very different from the study on the urbanization in the Neo-classical school who focus on technical analysis, the classical school of economists pay more attention to the analysis of the history of urbanization, class analysis and case analysis, they are very good at deep into the various contradictions and problems of urbanization development in the countries, to explore the cause, process and development trend of urbanization. They are extremely important wealth for policy makers and scholars who will research later on urbanization. It need timely summary of precipitation and learn from the discussion of the essence.</pre>

scholarly journals UnderstandingThe Problem of Social Cost

2014 ◽  
Vol 11 (2) ◽  
pp. 329-352 ◽  
Author(s):  
BRETT M. FRISCHMANN ◽  
ALAIN MARCIANO
Keyword(s):  
Mathematical Models ◽  
Real World ◽  
Social Cost ◽  
Legal Cases ◽  
New Approach ◽  
Classical Economics ◽  
Sustained Use ◽  
History Of ◽  
Seminal Article ◽  
Almost All

AbstractCoase always expressed dissatisfaction with neo-classical economics and advocated for a new approach. Rather than using toy mathematical models built from unrealistic, idealized assumptions, Coase preferred to study real-world contexts, including actual legal cases. He demonstrated the utility of his approach in ‘The Problem of Social Cost’. Yet almost all of Coase's contemporaries completely ignored, Coase's call for a new approach and his sustained use of legal cases to illustrate his arguments and to situate his analysis in reality. In this paper, we show that the profession interpreted Coase's seminal article exactly the opposite of what he had intended, and reduced his analytical contributions to a toy model of the exact sort he was criticizing. This ironic history of the most cited article both in law and in economics helps us understand the development of ideas within both fields and how disciplinary blinders shape intellectual progress.

scholarly journals Retrospectives Gender in Classical Economics

2004 ◽  
Vol 18 (1) ◽  
pp. 229-240 ◽  
Author(s):  
Robert W Dimand ◽  
Evelyn L Forget ◽  
Chris Nyland
Keyword(s):  
University Of Illinois ◽  
Classical Economics ◽  
History Of ◽  
Economic Perspectives ◽  
Future Topics

This feature addresses the history of economic words and ideas. The hope is to deepen the workaday dialogue of economists, while perhaps also casting new light on ongoing questions. If you have suggestions for future topics or authors, please write to Joseph Persky, c/o Journal of Economic Perspectives, Department of Economics (M/C 144), University of Illinois at Chicago, 601 South Morgan Street, Room 2103, Chicago, Illinois 60607-7121.

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