The theory of evolution and the evolution of theory: Veblen's methodology in contemporary perspective

Article Abstract:

T.B. Veblen's differentiation between teleological and evolutionary modes of scientific study is discussed in relation to contemporary findings in economic theory. Neoclassical theory cannot demonstrate evolutionary processes due to expectation of rational behavior at the individual level regardless of mutating environment. However, the basic requirement of rationality can cause quasi-evolutionary sequences at the aggregate level. In macroeconomics, this potential is impeded as it fails to meet Veblen's basic conditions for evolutionary science.

Methods, Usage, Economics, Evolution (Biology), Evolution, Economic methods, Veblen, Thorstein, Teleology

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Taxation and Kalecki's theory of the business cycle

Article Abstract:

A correlative study between M. Kalecki's theories of tax incidence and the business cycle shows the manner in which taxation of wages and profits influence the amplitude of the business cycle. The effect of taxation is subject to the stage of cycle of the economy, long-term investment trends, the direction of tax policy, and the process and degree of tax shifting. A radical reevaluation of the analysis of taxation is required. An appendix presents relevant mathematical derivations.

Management, Evaluation, Taxation, Business cycles, Kalecki, Michal

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Prelude to a theory of homo absurdus: Variations on themes from Thorstein Veblen and Jean Baudrillard

Article Abstract:

Homo absurdus refers to a new economic character with traits taken from Thorstein Veblen's works and Jean Baudrillard's interpretation of Marxism. The differences between homo absurdus and homo economicus and homo revoltus are considered by contrasting absurdus to certain Marxian concepts. Veblen and Baudrillard posit that Western society still needs to grasp its true nature, insisting that economics are responsible for much of this ignorance.

Research, Economic development, Portrayals, Marxist economics

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