Horizontalism: a critique

Article Abstract:

An analysis is made into the horizontalist monetary theory that considers banks as unresponsive to credit demand. Banks' predilection for liquidity impinges on credit supply and is expressed in risk assessment in the context of Keynes' theory of uncertainty. A downturn in the business cycle results in unfavourable risk assessment leading to credit curtailment. Methodical rationing, exemplified by small firms, is explained.

Methods, Banking industry, Case studies, Small business, Credit management, Economic methods

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Piero Sraffa on utility and the 'subjective method' in the 1920s: a tentative appraisal of Sraffa's unpublished manuscripts

Article Abstract:

New discoveries from Sraffa's work on utility are used to analyze demand, as presented in Marshallian economics. Differences of opinion between Sraffa and Marshall emerge, and Sraffa's interest in interdependence in production and consumption is stressed.

Economic aspects, Demand (Economics), Utility theory, Utility functions

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Formalism, logic and reality: a Keynesian analysis

Article Abstract:

The neutrality of formalism in Economics is examined in detail, using a Keynesian perspective. The notion of closure in relation to analyses of economic systems is also explored.

Keynesian economics, Formalism (Philosophy)

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