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1 – 10 of 309In the early 1930s, Nicholas Kaldor could be classified as an Austrian economist. The author reconstructs the intertwined paths of Kaldor and Friedrich A. Hayek to disequilibrium…
Abstract
Purpose
In the early 1930s, Nicholas Kaldor could be classified as an Austrian economist. The author reconstructs the intertwined paths of Kaldor and Friedrich A. Hayek to disequilibrium economics through the theoretical deficiencies exposed by the Austrian theory of capital and its consequences on equilibrium analysis.
Design/methodology/approach
The author approaches the discussion using a theoretical and historical reconstruction based on published and unpublished materials.
Findings
The integration of capital theory into a business cycle theory by the Austrians and its shortcomings – e.g. criticized by Piero Sraffa and Gunnar Myrdal – called attention to the limitation of the theoretical apparatus of equilibrium analysis in dynamic contexts. This was a central element to Kaldor’s emancipation in 1934 and his subsequent conversion to John Maynard Keynes’ The General Theory of Employment, Interest, and Money (1936). In addition, it was pivotal to Hayek’s reformulation of equilibrium as a social coordination problem in “Economics and Knowledge” (1937). It also had implications for Kaldor’s mature developments, such as the construction of the post-Keynesian models of growth and distribution, the Cambridge capital controversy, and his critique of neoclassical equilibrium economics.
Originality/value
The close encounter between Kaldor and Hayek in the early 1930s, the developments during that decade and its mature consequences are unexplored in the secondary literature. The author attempts to construct a coherent historical narrative that integrates many intertwined elements and personas (e.g. the reception of Knut Wicksell in the English-speaking world; Piero Sraffa’s critique of Hayek; Gunnar Myrdal’s critique of Wicksell, Hayek, and Keynes; the Hayek-Knight-Kaldor debate; the Kaldor-Hayek debate, etc.) that were not connected until now by previous commentators.
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Constructive deviance has received increasing attention across the last 20 years. However, because the distinction between constructive and traditional forms of deviance (i.e.…
Abstract
Constructive deviance has received increasing attention across the last 20 years. However, because the distinction between constructive and traditional forms of deviance (i.e., destructive) is based on the intent behind the behaviors, it can be difficult to determine which acts are constructive. As an umbrella construct consisting of several forms of deviant acts (e.g., whistle-blowing, employee voice, necessary evils), research into constructive deviance has largely remained focused on the individual behaviors to date. While advancements have been made, this focus has limited the consideration of an overarching understanding of constructive deviance in the workplace. Further, constructs like constructive deviance that straddle the bounds between beneficial and detrimental necessitate the exploration into their antecedents as determined by the employees (i.e., apples), their environments (e.g., barrels), or some combination of the two. The author seeks to advance the research in constructive deviance by proposing a testable model. In which, the author develops an interactionist perspective of the antecedents to reposition constructive deviance as the acts of good employees in restrictive or negative environments. In doing so, the author considers how various aspects of individuals, their organizational environments, and the influence of their leaders interact. The author then develops a multi-stakeholder approach to the outcomes of constructive deviance to consider how the various parties (i.e., organization, coworkers, customers) are expected to respond and how these responses impact the more distal outcomes as well as the likelihood of engaging in future constructive deviance.
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