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Article
Publication date: 1 May 2000

Anghel N. Rugina

Presents the first chapter in this work with regard to the search for new ideas and better interpretations in the growth and development of new ideas. Investigates the…

Abstract

Presents the first chapter in this work with regard to the search for new ideas and better interpretations in the growth and development of new ideas. Investigates the exchange of views between thinkers of different points of view. Invites co‐operation between various factions to investigate unification of all known sciences (natural and economic) and to include the arts. Mentions all the great thinkers in these areas and unreservedly discusses their contribution in the school of thought. Proffers that modern technology cannot and should not be slowed down and that for the social economy of human solidarity should be aimed for, to begin a new era for humanity.

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International Journal of Social Economics, vol. 27 no. 5/6
Type: Research Article
ISSN: 0306-8293

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Article
Publication date: 1 April 2003

Anghel N. Rugina

Looks at Arrow’s early background in New York and his subsequent development in the field of econometrics and mathematical economics. Covers his work in depth and his…

Abstract

Looks at Arrow’s early background in New York and his subsequent development in the field of econometrics and mathematical economics. Covers his work in depth and his achievements in the school of thought of economics, adding that the modern school of thought is complementary to the classical school.

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International Journal of Social Economics, vol. 30 no. 4
Type: Research Article
ISSN: 0306-8293

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Book part
Publication date: 1 January 2001

Abstract

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Dynamic General Equilibrium Modelling for Forecasting and Policy: A Practical Guide and Documentation of MONASH
Type: Book
ISBN: 978-0-44451-260-4

Book part
Publication date: 18 February 2004

Glenn Hueckel

The three volumes before us comprise the second title in the “Elgar Reference Collection” of Critical Ideas in Economics, a new series which, we learn from the book cover…

Abstract

The three volumes before us comprise the second title in the “Elgar Reference Collection” of Critical Ideas in Economics, a new series which, we learn from the book cover, aims to provide “an essential reference source for students, researchers and lecturers in economics.” Each volume in the series will bring together a collection of previously-published articles and book-chapters which “focuses on [a] concept widely used in economics,” and will thereby “improve access to important areas of literature which will not be available in the archives of many of the newer libraries.” No one can deny that Professor Walker’s topic is ideally suited to this stated intent; is there a concept more “widely used in economics” than that of equilibrium? A collection of previously-published items cannot, of course, be appraised in terms of the originality of its content. Such a work offers a different sort of contribution. In addition to the publisher’s stated aim of an improved access to those key articles which, either because of their age or the location of their publication, are not widely available, a work such as this can perform a function not unlike that which Weintraub (1991, pp. 129–130) ascribes to the survey article. The act of selection (and, hence, of exclusion) serves to delineate the field for the non-specialist, and the ordering of the items in the collection can reveal instructive lines of intellectual development – a “filiation of scientific ideas” to adopt Schumpeter’s (1954, p. 6) felicitous phrase – that otherwise might be obscured.

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A Research Annual
Type: Book
ISBN: 978-0-76231-089-0

Article
Publication date: 1 February 1988

Anghel N. Rugina

This is the second part of a long investigation under the title of, Principia Oeconomica; the first having appeared in this journal in 1986. The substance of the argument…

Abstract

This is the second part of a long investigation under the title of, Principia Oeconomica; the first having appeared in this journal in 1986. The substance of the argument in this contribution is in the form of a dialogue with Henri Guitton, member of l'Institut de France and author of a book in French, De l'Imperfection en Economie (1979). Guitton is leading a new French Economic School critical of a modern economy characterised by ‘Econosm” or “Economy of Counter‐sense”. Economism refers to the practice of conceiving problems of a modern society in strictly economic‐accounting terms and neglecting a host of social and human aspects. The second term means that the sole attention given to growth in production did not increase the happiness of man but on the contrary it created for him new problems (pollution, noise, atomic radiation and other hazards). To cope with these problems, the French school recommends wise policies which Guitton called “creative imperfection”. Guitton's presentation is followed step by step, with an interpretation in terms of stable equilibrium. The recommendation stresses structural reforms to solve the same problems but following a road of “creative perfection” leading to the same goal sought by Guitton: a better world of tomorrow.

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International Journal of Social Economics, vol. 15 no. 2
Type: Research Article
ISSN: 0306-8293

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Book part
Publication date: 16 October 2007

Richard E. Just and Gordon C. Rausser

The lens used by the courts and much of the antitrust literature on predatory selling and/or buying is based on partial equilibrium methodology. We demonstrate that such…

Abstract

The lens used by the courts and much of the antitrust literature on predatory selling and/or buying is based on partial equilibrium methodology. We demonstrate that such methodology is unreliable for assessments of predatory monopoly or monopsony conduct. In contrast to the typical two-stage dynamic analysis involving a predation period followed by a recoupment period, we advance a general equilibrium analysis that demonstrates the critical role of related industries and markets. Substitutability versus complementarity of both inputs and outputs is critical. With either monopolistic or monopsonistic market power (but not both), neither predatory overselling nor predatory overbuying is profitably sustainable. Two-stage predation/recoupment is profitable only with irreversibility in production and cost functions, unlike typical estimated forms from the production economic literature. However, when the market structure admits both monopolistic and monopsonistic behavior, predatory overbuying can be profitably sustainable while overselling cannot. Useful distinctions are drawn between contract versus non-contract markets for input markets.

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Research in Law and Economics
Type: Book
ISBN: 978-1-84950-455-3

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Urban Dynamics and Growth: Advances in Urban Economics
Type: Book
ISBN: 978-0-44451-481-3

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Handbook of Transport Geography and Spatial Systems
Type: Book
ISBN: 978-1-615-83253-8

Article
Publication date: 1 February 1994

Noel D. Uri and Roy Boyd

Examines the impact of the sugar tariff‐rate import quota programme onthe United States economy. Uses a computable general equilibrium modelcomposed of 14 producing…

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Abstract

Examines the impact of the sugar tariff‐rate import quota programme on the United States economy. Uses a computable general equilibrium model composed of 14 producing sectors, 14 consuming sectors, six household categories classified by fincome, and a government. Examines the effects of abolishing the tariff‐rate import quota on sugar prices and quantities. Suggests that a complete elimination of the sugar programme would result in lower output by all producing sectors (by about $2.85 billion) but, for all producing sectors besides the agriculture programme crops, crude oil, and petroleum refining sectors, output would actually increase (by about $2.98 billion). There would also be an increase in the consumption of goods and services (by about $197 million), and an increase in welfare (by about $121 million). The government would realize a reduction in revenue of about $15 million. When subjected to a sensitivity analysis, the study′s results are reasonably robust with regard to the assumption of the value of the own‐price elasticity of demand for sugar – i.e., while the model′s equilibrium values do vary in response to different assumptions of the values of this elasticity, the fluctuations are not so enormous as to suggest that the model is unrealistically sensitive to these parameters.

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Journal of Economic Studies, vol. 21 no. 1
Type: Research Article
ISSN: 0144-3585

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Article
Publication date: 1 January 1983

Anghel N. Rugina

Pantaleoni used to say that there are two categories of economists—those who can, in the sense of being able to produce original work, and those who cannot. A more…

Abstract

Pantaleoni used to say that there are two categories of economists—those who can, in the sense of being able to produce original work, and those who cannot. A more meaningful and more useful distinction can be made between those who reason about the given problems in terms of stable equilibrium (most of them classicists) and those who do their thinking in terms of unstable equilibrium (actually stable disequilibrium) and sheer disequilibrium (most of them modern and contemporary scientists).

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International Journal of Social Economics, vol. 10 no. 1
Type: Research Article
ISSN: 0306-8293

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