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Allyn Young′s lectures, as recorded by the young Nicholas Kaldor, survey the historical roots of the subject from Aristotle through to the modern neo‐classical writers. The focus throughout is on the conditions making for economic progress, with stress on the institutional developments that extend and are extended by the size of the market. Organisational changes that promote the division of labour and specialisation within and between firms and industries, and which promote competition and mobility, are seen as the vital factors in growth. In the absence of new markets, inventions as such play only a minor role. The economic system is an inter‐related whole, or a living “organon”. It is from this perspective that micro‐economic relations are analysed, and this helps expose certain fallacies of composition associated with the marginal productivity theory of production and distribution. Factors are paid not because they are productive but because they are scarce. Likewise he shows why Marshallian supply and demand schedules, based on the “one thing at a time” approach, cannot adequately describe the dynamic growth properties of the system. Supply and demand cannot be simply integrated to arrive at a picture of the whole economy. These notes are complemented by eleven articles in the Encyclopaedia Britannica which were published shortly after Young′s sudden death in 1929.

Seligman's evaluation of Longfield's work concentrated exclusively on his views on value and distribution as set out in the Lectures on Political Economy. He noted that Longfield adopted many of the doctrines of the classical school but dissented from it in his treatment of distribution above all in his theory of profits (Seligman, 1903, p. 526). Seligman began with an examination of Longfield's ‘noteworthy’ theory of value which takes into account ‘the influence of cost of production upon the supply side of the equation’ as well as calling attention to the demand side (Seligman, 1903, p. 526). In discussing the demand side, Longfield pointed out that although the intensity of demand varies with different persons, all will affect their purchases at the market price. If an attempt was made to raise price above this level, the demanders whose intensity of demand was measured by the former price would cease to be purchasers. ‘Thus the market price is measured by that demand, which being of the least intensity leads to actual purchases’ (Longfield, 1834, p. 113; Seligman, 1903, p. 526). Seligman went on to note that, for Longfield, not only did intensity of demand vary between persons but also that ‘the same person may be said to have in himself several demands of different degrees of intensity’. Longfield wrote:Each individual contains as it were within himself, a series of demands of successively increasing degrees of intensity; that the lowest degree of this series which at any time leads to a purchase, is exactly the same for both rich and poor, and is that which regulates the market price and that in the case of the rich man, the series increases more rapidly, that is to say, the intensity of his demand increases more rapidly in proportion to the diminution of his consumption than in the case of the poor man. (Longfield, 1834, p. 115)

One of the several claims that Seligman makes for Rooke is that he should be accorded priority in the discovery of the correct, that is Ricardian, doctrine of rent:there seems little doubt that the doctrine of rent was developed practically simultaneously by Malthus, West, Torrens and Rooke in 1814, but so far as the priority of actual publication is concerned, the above list should be reversed. And in the interests of historical accuracy, Rooke and Torrens must hereafter be accorded the position which they deserve. (Seligman, 1903, p. 512)¹

The purpose of this paper is to build a unified model of human information behavior (HIB) for integrating classical constructs and reformulating the structure of HIB theory.

This paper employs equilibrium perspective from partial equilibrium theory to conceptualization and deduction, starting from four basic assumptions.

This paper develops two models to incorporate previous HIB research approaches into an equilibrium-analysis-oriented information supply-demand (ISD) framework: first, the immediate-task/problem-based and everyday life information-seeking (ELIS)-sense-making approaches are incorporated into the short-term ISD model; second, the knowledge-construction-oriented and ability-based HIB research approaches are elaborated by the long-term ISD model. Relations among HIB theories are illustrated via the method of graphical reasoning. Moreover, these two models jointly reveal the connection between information seeking in immediate problematic situations and long-term ability improvement.

The equilibrium framework enables future research to explore HIB from three perspectives: stages: group the classical concepts (e.g. anomalous state of knowledge, uncertainty) into different stages (i.e. start state, process, goal state) and see how they interact with each other within and across different stages; forces: explore information behaviors and information-related abilities as information supply and demand forces, and see how different forces influence each other and jointly motivate people to pursue the equilibriums between outside world and mental model; and short term and long term: study the connections between short-term information seeking and long-term ability improvement at both theoretical and empirical levels.

Audit hour reporting is rare internationally. Thus, to what extent shareholders have the power to influence audit effort/hour demand is a question left unanswered. This study aims to use unique South Korean data to determine whether the increasing power of the largest foreign/domestic shareholders and blockholders can influence audit hour demand.

In this study ordinary least squares (OLS) regression analysis is conducted using a sample of Korean listed firms over the 2004–2018 sample period.

The results show: as the percentage equity holding of the largest foreign shareholder and blockholder (>5%) increases, audit hour demand increases. As the shareholding of the largest domestic shareholder increases, audit hour demanded decreases. The association between audit fees/hours is not qualitatively indifferent, after controlling for the audit fee premium effect. Furthermore, the largest foreign shareholder is shown to demand increasingly higher levels of audit hours from Big4 auditors, relative to NonBig4. All results are consistent with audit demand theory.

Whilst previous studies offer audit fee/risk interpretations, this study extends the literature by developing a framework to explain why audit hour demands differ for specific groups. Because audit hour information is rare internationally, the study has important policy implications.

Veneer is one of the most important products in the wood‐based panel industry, therefore, to provide needed information for the development of this industry, it is necessary to provide better understanding of the forces driving the demand and supply of veneer. The purpose of this paper is to describe how supply and demand can be estimated by using a simultaneous equations model.

A theoretical framework is proposed based on a systematic approach of iterative 3‐stage least squares (I3SLS). The reason for using simultaneous equations is the existence of reciprocal relations between economic variables in this research.

Applying this theoretical framework is a useful tool to study the situation of veneer as one of the most important wood‐based panel products in Iran. For example, based on the results, it can be understood that veneer is a normal and essential commodity, and any increase in the price of veneer can lead to a considerable rise in total income for producers. To satisfy the excess demand, extensive investment is needed in establishing new plants.

There are many restrictions in applying other approaches, because of no access to research data. The present study provides a starting‐point for further research using other econometric models on different aspects of forest products marketing.

The framework (econometric models especially simultaneous equations) has proven to be useful in studying and improving forest products marketing. The use of such procedures was new and this research was done for the first time in Iran.

The purpose of this paper is to establish Kautilya as a genuine contender to be a forerunner of the neoclassical price theory.

Rational reconstruction approach is used to present Kautilya's understanding of several most basic concepts in economics.

Kautilya's understanding of the law of diminishing returns is at par with the classicists. His applications of concepts like opportunity cost, and of demand and supply framework, are closer to those of the neoclassicals. His understanding of the rules (axioms) of comparison and consistency and the exploration of substitution possibilities is way ahead of the classicists.

The current research in the history of economic thought concentrates too heavily on the exploration of Western history of economic thought.

Kautilya's Arthashastra is a new source of knowledge and the profession should encourage the exploration of other ancient contributions outside of Europe.

The paper revises the history of economic thought.

Based on Geoffrey Harcourt's Palgrave volumes, this review article attempts to picture how, in a Cambridge environment, Keynes's fragmentary monetary theory of production grew organically out of Marshall's equally fragmentary monetary theory of exchange. The dangers associated with Keynes's close links with Marshall are alluded to. Indeed, without taking account of the classical spirit of Sraffa's work, Keynes's monetary theory may quite easily be integrated into the Marshallian‐neoclassical framework of analysis. However, theorising, not literally, but in the spirit of Keynes and Sraffa, within a Ricardian‐Pasinettian framework of vertical integration, opens the way to a Classical‐Keynesian monetary theory of production.

Discusses the economic thought of Hans von Mangoldt (1824‐1868). We discuss how this German classical author seems to anticipate later “neoclassical” ideas, such as Schumpeter’s theory of the entrepreneur, Marshall’s partial price analysis and the graphical representation of supply and demand. We discuss these graphical representations and conclude that Mangoldt does not take the role of time into account. Investigates why Mangoldt’s contemporaries did not pay much attention to these theoretical developments and describes how Mangoldt’s most interesting mathematical theories were omitted in the posthumous editions of his principal work.