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Economics

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The competence-based approach: Veblenian ideas in the modern theory of the firm

Article Abstract:

There are links between competence-based notions of the firm and the work of Thorstein Veblen. Veblen's analysis was eclipsed by that of value theory during the 1930s, and Veblen ceased to be viewed as an economist. Veblen could be criticised on some counts, but his work contained worthwhile insights, such as the impact of knowledge on production. His insights were not developed by his institutionalist followers, and this may be because attention shifted to transactions and exchange, rather than production.

Institutional economics, Veblen, Thorstein

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A realistic appraisal of post-Keynesian pricing theory

Article Abstract:

Critical realism is commonly seen as a philosophical framework for methodology used by post-Keynesians. Post-Keynesian pricing theory can be examined in order to assess the usage of critical realism in this specific case. Work carried out by a number of theorists, including Kalecki, Hitch, Hall, Andrews and Means can be classed as examples of a critical-realist approach, and the work of these theorists can be used as a basis for further empirical and theoretical work.

Economic aspects, Prices, Keynes, John Maynard

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Experimental economics under the microscope

Article Abstract:

Issues concerning experimental economics are discussed. It is argued that it is not possible to test parallelism by further experiments or econometrics. This goes against the views of experimental economists.

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