Abstracts » Economics

The neoclassical advent: American economics at the dawn of the 20th century

Article Abstract:

There were contradictions in neoclassicism in the US at the start of the 20th century, and there was concern to avoid the exploitation of workers, though opposition to the ideas of Karl Marx and Henry George. Big companies and economies of scale were seen as important, but competition was also valued. There was an attempt to show the process of capitalist development, while developing a static equilibrium theory. Neoclassicism has maintained a focus on normative economics depsite attempts to create a value-free neoclassical economics.

Economic history, Neoclassical economics

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Cost-benefit analysis and the classical creed

Article Abstract:

The history of cost-benefit analysis gives an insight into unresolved conflicts over the suitable normative foundations for welfare economics. It is argued that it may now be time for a theoretical and empirical reassessment of the defence by Nicholas Kaldor and John Hicks of the classical creed of cost-benefit analysis.

Cost benefit analysis

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From usury to interest

Article Abstract:

The origin of the economic term 'interest' from the meaning of the word 'usury' is discussed. The interpretation of the meaning of 'interest,' based on ancient law and various dictionaries, is presented.

United States, Science & research, Economics, Research and Development in the Social Sciences and Humanities, Research, Interpretation and construction, Terminology, Origin, Ancient law, Economic anthropology

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