Henry Thornton in the history of economics: confusions and contributions

Article Abstract:

Henry Thornton, a leader responsible for the removal of the slave trade in the eighteenth century, is considered an important monetary economist of the nineteenth century. His work gained attention in the early twentieth century with the fall of the gold standard. His explanations for the exchange rates are based on interest rate differentials, uncertainty and risk premium. Although interest rates lead to immediate appreciation, the long-run benefits are high.

History, Biography, Monetary policy, Thornton, Henry

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Galilean reflections on Milton Friedman's "Methodology of positive economics," with thoughts on Vernon Smith's "Economics in the laboratory"

Article Abstract:

The important role of the Galilean practice of natural science is emphasized in creating an adequate representation of historical narrative. The methodological statements in two famous papers in the history of economic methodology, Milton Friedman's "Methodology of positive economics," and Vernon Smith's "Economics in the laboratory" are also critically analyzed.

United States, Analysis, Economics, Criticism and interpretation, Economic methods, Friedman, Milton, Smith, Vernon L.

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The economics of honeybee swarming

Article Abstract:

This research indicates that bees swarm and find another hive when overpopulation occurs, caused by a general concensus rather than led by the queen bee.

Taiwan, Economic aspects, Behavior, Bees

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