Economy

2017 ◽  
Author(s):  
Anne Koch
Keyword(s):  
Economic Theory ◽  
Political Economy ◽  
Public Goods ◽  
Social Relationships ◽  
Economic Systems ◽  
Allocation Of Resources ◽  
Exogenous Factor ◽  
Neoclassical Economic Theory ◽  
Private And Public ◽  
Religious Economies

Religion is in many ways an economic phenomenon and can be analyzed as such. By economy most economists understand systems for the allocation of resources. In this light, this chapter notes various ways in which religious organizations are engaged in sectoral markets and produce private and public goods, entailing products and services. Religion and economy are interdependent and relate to each other in distinct ways across societal subsystems. Economy both permeates religious structures and is a co-system. This is generally studied by political economy: recent moves beyond neoclassical economic theory (which saw culture as an exogenous factor) emphasize the economy’s embeddedness in social relationships and its variation across cultures. The chapter considers ways in which religious phenomena reflect recent changes in capitalist systems and ways in which religious economies function as explicit economic systems.

The Political Economy of Charles E. Lindblom

1978 ◽  
Vol 72 (3) ◽  
pp. 1012-1016 ◽  
Author(s):  
Charles W. Anderson
Keyword(s):  
Economic Theory ◽  
Political Economy ◽  
Institutional Design ◽  
The Political ◽  
Economic Systems ◽  
Market Mechanisms ◽  
Social Coordination ◽  
Political Economic ◽  
And Control ◽  
Coordination And Control

The consistent theme in Charles E. Lindblom's work is a vision of political economy as constitutional engineering. Lindblom sees the question of institutional design in terms of a mechanical metaphor in which political economic systems are contrived out of relatively simple components. Politics and Markets compares a broad range of capitalist and socialist systems as a means of evaluating market mechanisms and authority structures as instruments of social coordination and control. Lindblom's argument that the privileged power of the corporation poses a problem for liberal market-oriented societies is logically distinct from his case that the corporation fits “oddly” with democratic theory, and the latter may be the more significant theme for further inquiry in political economic theory.

scholarly journals The lighthouse after Coase: Alternative ways to provide goods and func-tions of state

2021 ◽  
pp. 247-264
Author(s):  
Grigoriy Kalyagin
Keyword(s):  
Economic Theory ◽  
Political Economy ◽  
Public Goods ◽  
Public Good ◽  
Main Part ◽  
Special Role ◽  
The Third ◽  
Club Good ◽  
Xix Century ◽  
Further Development

This article attempts to answer the question of what determines the choice of the method to provide one or another public good. Why is one good given as a private one, another one as a club good, the third one as a purely public good, and the fourth one as a mix of different forms. In fact, this question includes the question of what the state should (and should not) do. The main part of the article presents a review of the discussion concerning the good, which played a special role in economic theory - the lighthouses. Although the classics of political economy of XIX - early XX centuries considered them as a striking example of pure public goods, the famous article by R. Coase [Coase, 1974] concludes that the services of lighthouses in England and Wales were not funded from general taxes, that is, they were not provided as public goods until the second third of XIX century. Further development of this discussion, which is still incomplete and relevant, leads to the understanding that lighthouse services are provided in different countries and/ or at different times as goods of various types. The same applies to almost any other goods. The concrete way of providing this good depends not only on the country and time, but also on how to estimate the specific offenses it provides. We conclude that there exist no private, public, etc. benefits by themselves, and a socially effective way of delivering benefits depends on the technologies and institutions available in the society.

On Some Neglected Topics in Development Economics (Quaid-i-Azam Lecture)

1985 ◽  
Vol 24 (3-4) ◽  
pp. 237-263 ◽  
Author(s):  
M. Ali Khan
Keyword(s):  
Economic Theory ◽  
Theoretical Result ◽  
Development Economics ◽  
Neoclassical Economic ◽  
Economic Systems ◽  
Economic Phenomenon ◽  
Neoclassical Economic Theory

In this lecture I shall present to you a variety of topics which are typically not dealt with in textbooks of development economics and whose study, it seems to me, will advance the understanding of Our subject. If there is any commonality in the topics that I choose, it lies more in the underlying method of investigation than in substance. What I hope to bring out is the importance and fruitfulness of economic theory - particularly neoclassical economic theory - in giving us insight not only into topical questions but also into the structure of the economic systems concerning which these questions are posed. In addition, I hope to emphasize what any theoretical result makes explicit; namely that it is based on assumptions and to the extent that it increases our understanding of a particular economic phenomenon, it also increases our lack of understanding of all those economic phenomena not covered by those assumptions.

scholarly journals Evolution of The Functions of Money in The Context of The Approaches of Various Schools of Economic Thought

2021 ◽  
Vol 12 (2) ◽  
pp. 036-049
Author(s):  
Igor M. Shiriaev ◽  
◽  
Daria S. Zakharova ◽  
Keyword(s):  
Economic Theory ◽  
Political Economy ◽  
Comparative Analysis ◽  
Economic Thought ◽  
Monetary Theory ◽  
Theoretical Approaches ◽  
Classical Political Economy ◽  
Different Types ◽  
Neoclassical Economic Theory ◽  
Definition Of

The purpose of this paper is the identification of the functions of money and characteristic of their evolution through change of the used types of money. Research methods are a brief overview and comparative analysis of economic-theoretical approaches to the definition of the functions of money. A comparative analysis of the classifications of the functions of money, made by physiocracy, classical political economy, Marxist political economy, Austrian school of economic theory, German historical school of economics, neoclassical economic theory, Keynesianism, monetarism, institutionalism, modern monetary theory, is carried out. It is shown that various economic schools have different approaches to the definition of the functions of money. Some scientific schools separate money functions for basic and secondary, but other schools consider that all the functions are equally significant. It is concluded that modern changes in the types of money used lead to the fact that different functions of money (in particular, the functions of medium of exchange, measure of value, reserve of value, means of payment) are most effectively implemented by different types of money. Scientific novelty consists in the reconstruction and comparison of lists of functions of money identified by the most important schools of economic theory. The conclusions of the research can be used in scientific and pedagogical activities in the study of the essence and functions of money.

Heuristic Potential of Political Economy of Socialism in the 21st Century

2003 ◽  
pp. 112-124 ◽  
Author(s):  
A. Buzgalin
Keyword(s):  
Economic Theory ◽  
Political Economy ◽  
Economic System ◽  
21St Century ◽  
Transitional Economy ◽  
Industrial Society ◽  
Economic Systems ◽  
Real Socialism ◽  
Modern Economic ◽  
Post Industrial

The author tries to distinguish the main achievements of political economy of socialism, its contribution to modern economic theory and potential in analysis of post-industrial society. To his opinion political economy of socialism is useful for understanding the nature of "real socialism" (i.e. economic system that was really functioning in the USSR and socialist countries), future post-capitalist economic systems and transitional economy. Moreover, this discipline can be helpful in overcoming the market-oriented paradigm dominating now in economic theory.

Once Again About Political Economy as a Scientific and Educational Discipline (on the Debated Aspects of the Problem)

2020 ◽  
pp. 118-128
Author(s):  
A.A. Porokhovsky
Keyword(s):  
Economic Theory ◽  
Political Economy ◽  
Academic Discipline ◽  
Special Kind ◽  
Russian Scientific ◽  
Current State ◽  
University Courses ◽  
Neoclassical Economic Theory

Russian scientific economic literature continues to discuss the problem of the modern evolution of political economy as a science and its return as an academic discipline in the number of mandatory university courses. In this regard, the article, firstly, examines the historical fate and the current state of Marxist political economy, emphasizes its fundamental difference from other economic theories. Secondly, — considerable attention is paid to neoclassical economic theory and an academic discipline called «economics». The historical circumstances of the emergence of this term are shown and the place of neoclassicism in the Western classification of economic sciences is characterized. Thirdly, — for a comprehensive analysis of the economy, it is proposed to use general economic theory as a combination (a special kind of aggregate) of all modern schools, directions and programs of economic theory, unified in the object, but differing in the subject and method of research. It is emphasized that the role of the basis and historically and logically the initial component of this theory is played by political economy.

"Marketocentric" Economics Is Obsolete

2004 ◽  
pp. 36-49 ◽  
Author(s):  
A. Buzgalin ◽  
A. Kolganov
Keyword(s):  
Economic Theory ◽  
Middle Ages ◽  
Modern Science ◽  
Economic Systems ◽  
Main Mode ◽  
Post Market ◽  
Market Relations ◽  
Post Industrial ◽  
The 19Th Century ◽  
The Universe

The "marketocentric" economic theory is now dominating in modern science (similar to Ptolemeus geocentric model of the Universe in the Middle Ages). But market economy is only one of different types of economic systems which became the main mode of resources allocation and motivation only in the end of the 19th century. Authors point to the necessity of the analysis of both pre-market and post-market relations. Transition towards the post-industrial neoeconomy requires "Copernical revolution" in economic theory, rejection of marketocentric orientation, which has become now not only less fruitful, but also dogmatically dangerous, leading to the conservation and reproduction of "market fundamentalism".

Nikolay Sieber in the history of prerevolutionary Russian economic thought

2018 ◽  
pp. 95-110
Author(s):  
L. D. Shirokorad
Keyword(s):  
Economic Theory ◽  
Political Economy ◽  
Organic Synthesis ◽  
Marginal Utility ◽  
Economic Thought ◽  
History Of ◽  
Three Stages

This article shows how representatives of various theoretical currents in economics at different times in history interpreted the efforts of Nikolay Sieber in defending and developing Marxian economic theory and assessed his legacy and role in forming the Marxist school in Russian political economy. The article defines three stages in this process: publication of Sieber’s work dedicated to the analysis of the first volume of Marx’s Das Kapital and criticism of it by Russian opponents of Marxian economic theory; assessment of Sieber’s work by the narodniks, “Legal Marxists”, Georgiy Plekhanov, and Vladimir Lenin; the decline in interest in Sieber in light of the growing tendency towards an “organic synthesis” of the theory of marginal utility and the Marxist social viewpoint.

Jean Tirole: The political economy of corporate finance (On the book by J. Tirole “The theory of corporate finance”)

2017 ◽  
pp. 128-141
Author(s):  
N. Ranneva
Keyword(s):  
Economic Theory ◽  
Political Economy ◽  
Graduate Students ◽  
Corporate Finance ◽  
Critical Review ◽  
The Political ◽  
Institutional Economic ◽  
New Type ◽  
Finance Theory ◽  
Empirical Material

The present article undertakes a critical review of the new book of Jean Tirole, the winner of the 2014 Nobel Prize in Economics, “The theory of cor- porate finance”, which has recently been published in Russian. The book makes a real contribution to the profession by summarizing the whole field of corporate finance and bringing together a big body of research developed over the last thirty years. By simplifying modeling, using unified analytical apparatus, undertaking reinterpretation of many previously received results, and structuring the material in original way Tirole achieves a necessary unity and simplicity in exposition of extremely heterogeneous theoretical and empirical material. The book integrates the new institutional economic theory into classical corporate finance theory and by doing so contributes to making a new type of textbook, which is quite on time and is likely to become essential reading for all graduate students in corporate finance and microeconomics and for everyone interested in these disciplines.

Political Economy of Post-Soviet Marxism (Theses to Forming of Scientific School)

2005 ◽  
pp. 36-55 ◽  
Author(s):  
A. Buzgalin ◽  
A. Kolganov
Keyword(s):  
Economic Theory ◽  
Political Economy ◽  
Transition Economies ◽  
Alternative Schools ◽  
Scientific School ◽  
Theoretical Concepts ◽  
Limited Ability ◽  
Socialist System ◽  
Soviet Marxism ◽  
Modern Russian

The limited ability of neoclassical "mainstream" to explain deep fundamental shifts in economic structures of the present day world determines the renaissance of alternative schools of economic theory, including Marxism. The article is aimed to show theoretical concepts of modern Russian neomarxism, which has a potential to explain the contradictions of the capitalist globalization, the tendencies of forming new types of socioeconomic relations, of the specific forms of transition economies in the post-socialist countries and basic causes of the birth and collapse of the socialist system.

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