Institutions, social custom and efficiency wage models: alternative approaches

Article Abstract:

Efficiency wage models based on the concept of societal conditioning of preferences have more interesting economic and social policy implications than traditional models. The concept presumes that social interactions decide the forms and structures of traditional institutions. Policy implications are a commitment to collectivity which leaves scope for institutional changes. The models based on methodological individualism provides limited flexibility for change.

Social aspects, Models, Compensation management, Beliefs, opinions and attitudes, Associations, institutions, etc., Associations, Collectivism

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The characteristics of a monetary economy: a Keynes-Schumpeter approach

Article Abstract:

The theories of Keynes and Schumpeter, and the role of banks in influencing monetary economy, are discussed.

Commercial Banks, Banking industry, Economic aspects, Works, Keynes, John Maynard, Schumpeter, Joseph Alois

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Money, cycles and capital formation: von Mises the 'Austrian' vs. Robertson the 'Dynamist.'

Article Abstract:

The impact of variations in business cycles , on capital growth, is examined.

Capital investments, Growth, Business cycles, Company growth, Capital investment

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