Development of the Theory of Social and Economic Decisions Efficiency at CEMI. To the Centenary of Nikolay P. Fedorenko

2018 ◽  
pp. 59-67
Author(s):  
Veniamin Livchits ◽  
◽  
Sergey Smolyak ◽  
Keyword(s):  
Economic Decisions

Rational Expectations and Inflation

2017 ◽  
Author(s):  
Thomas J. Sargent
Keyword(s):  
World War I ◽  
French Revolution ◽  
Rational Expectations ◽  
Ronald Reagan ◽  
Fiscal Policies ◽  
Economic Policies ◽  
Budget Deficits ◽  
Nobel Lecture ◽  
Economic Decisions ◽  
The French Revolution

This collection of essays uses the lens of rational expectations theory to examine how governments anticipate and plan for inflation, and provides insight into the pioneering research for which the author was awarded the 2011 Nobel Prize in economics. Rational expectations theory is based on the simple premise that people will use all the information available to them in making economic decisions, yet applying the theory to macroeconomics and econometrics is technically demanding. This book engages with practical problems in economics in a less formal, noneconometric way, demonstrating how rational expectations can satisfactorily interpret a range of historical and contemporary events. It focuses on periods of actual or threatened depreciation in the value of a nation's currency. Drawing on historical attempts to counter inflation, from the French Revolution and the aftermath of World War I to the economic policies of Margaret Thatcher and Ronald Reagan, the book finds that there is no purely monetary cure for inflation; rather, monetary and fiscal policies must be coordinated. This fully expanded edition includes the author's 2011 Nobel lecture, “United States Then, Europe Now.” It also features new articles on the macroeconomics of the French Revolution and government budget deficits.

Grain Policies and Storage in Southern Germany: The Regensburg Hospital (17th-19th Centuries)

2018 ◽  
Vol 59 (2) ◽  
pp. 415-445
Author(s):  
Kathrin Pindl
Keyword(s):  
Early Modern ◽  
18Th Century ◽  
Early Modern Period ◽  
Analytical Scheme ◽  
Economic Decisions ◽  
Modern Period ◽  
Specific Factors ◽  
Time Specific ◽  
Time Invariant ◽  
And Storage

Abstract This paper is concerned with the storage policy of the citizens’ hospital of Regensburg in the Early Modern period (focus: 18th century). The main purpose consists of (1) a source-based micro-study that helps to derive insights into the mechanisms of how experiences and expectations have influenced decisions by a pre-modern institution, (2) an analytical scheme for describing and evaluating the process of decision-making based on narrative evidence, and (3) the suggestion of analytical categories. These should allow a differentiation between time-invariant human behaviour that determines economic decisions, and time-specific factors which can be used to separate possibly “pre-modern” patterns from seemingly modern-day capitalist economic performance.

scholarly journals Economic necessity and political reality in the GDR: Establishing an overseas port at Rostock

2021 ◽  
Vol 33 (1) ◽  
pp. 129-144
Author(s):  
Joseph A. Stollenwerk
Keyword(s):  
Cold War ◽  
National Interests ◽  
Political Reality ◽  
Economic Decisions ◽  
Economic Strategies ◽  
Broad Array ◽  
Local Decision ◽  
History Of ◽  
Economic Necessity ◽  
The Cold War

Opened in April 1960, the overseas port at Rostock resulted from a convergence of factors related to geopolitics, geography, economics and the unique needs and challenges of building a socialist port. Local, national and global pressures played on each other in establishing the port, making Rostock a singular product of the Cold War in the German Democratic Republic. The history of decision-making that went into the building of the port demonstrates the importance of politics in the Cold War, as well as its limits. Although informed by geopolitics, economic decisions in Europe’s socialist economies reflected a broad array of factors. This article argues that national and local decision-makers managed competing regional and national interests in order to develop their own economic strategies that functioned on several different levels. Rostock’s history highlights the common problematic of operating within and outside of the boundaries that the Cold War produced.

The G7 Summit and the Reform of Global Institutions

1995 ◽  
Vol 30 (4) ◽  
pp. 492-509 ◽  
Author(s):  
Nicholas Bayne
Keyword(s):  
International Economic ◽  
Cold War ◽  
Domestic Policy ◽  
Economic Relations ◽  
Security Issues ◽  
Global Institutions ◽  
Economic Decisions ◽  
International Economic Relations ◽  
The Cold War ◽  
National Governments

IN MY GOVERNMENT AND OPPOSITION/LEONARD SCHAPIRO lecture in 1993 I attempted an incomplete analysis of international economic relations after the end of the cold war, in particular the unexpected tensions and difficulties. The end of superpower confrontation had not only removed one incentive for Western countries to settle their economic disputes. It had also lowered the priority given to security issues, where national governments were in control, and had exposed their dwindling ability to take economic decisions, because of the extent of the interdependence which was the price paid for their prosperity. I could not think of a single area of domestic policy immune from international influence. Professor Susan Strange has developed a more trenchant analysis of this trend in her Government and Opposition/Leonard Schapiro lecture this year.

Coastal risk management: How to motivate individual economic decisions to lower flood risk?

2011 ◽  
Vol 54 (2) ◽  
pp. 164-172 ◽  
Author(s):  
Tatiana Filatova ◽  
Jan P.M. Mulder ◽  
Anne van der Veen
Keyword(s):  
Risk Management ◽  
Flood Risk ◽  
Economic Decisions ◽  
Coastal Risk

scholarly journals Vernacular traditions in Norwegian jewelry design - Past, present, future

2015 ◽  
Vol 8 (1) ◽  
Author(s):  
Astrid Skjerven
Keyword(s):  
Consumer Behavior ◽  
Reliable Indicator ◽  
Local Identity ◽  
Avant Garde ◽  
Economic Decisions ◽  
The World ◽  
Future Situation ◽  
Jewelry Design

Living in an era of globalization, the capability of communicating identity has become of greater importance than ever. This has increased our estimation of the vernacular, which represents an expression of a national or local identity. In Norway the vernacular tradition in silver jewelry is particularly strong. It has played an important role not only locally, but also in the constantly changing relation with the outside world, in accordance with the societal situation. It should therefore constitute a reliable indicator of how our country relates to the present process of globalization. The aim of the paper is to throw light on the relation between Norway’s role on the global scene and the use of the vernacular tradition in the development of jewelry design in general. It consists of a historical exploration that leads up to a discussion the present and future situation. Today there is a cleft between consumer behavior and avant-garde practice. In accordance with the global situation and Norway’s geopolitical situation of existing in the outskirts of political and economic decisions, the situation is characterized by a variety of practices, and by a slow acceptance of the vernacular values in the world of avant-garde practitioners.

Reviving the Socialist Calculation Debate: A Defense of Hayek Against Lange

1989 ◽  
Vol 6 (2) ◽  
pp. 139-159 ◽  
Author(s):  
Daniel Shapiro
Keyword(s):  
Free Market ◽  
Market Socialism ◽  
Conventional View ◽  
Economic Decisions ◽  
Socialist Calculation Debate

The socialist calculation debate is a debate about whether rational economic decisions can be made without markets, or without markets in production goods. Though this debate has been simmering in economics for over 65 years, most philosophers have ignored it. This may be because they are unaware of the debate, or perhaps it is because they have absorbed the conventional view that one side decisively won. This is the side represented by economists such as Oskar Lange and Fred Taylor who, in opposition to free-market economists like Fredrich Hayek, allegedly showed that their version of market socialism is, in principle, as efficient as capitalism.

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