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Article
Publication date: 1 March 1985

Tomas Riha

Nobody concerned with political economy can neglect the history of economic doctrines. Structural changes in the economy and society influence economic thinking and, conversely…

2578

Abstract

Nobody concerned with political economy can neglect the history of economic doctrines. Structural changes in the economy and society influence economic thinking and, conversely, innovative thought structures and attitudes have almost always forced economic institutions and modes of behaviour to adjust. We learn from the history of economic doctrines how a particular theory emerged and whether, and in which environment, it could take root. We can see how a school evolves out of a common methodological perception and similar techniques of analysis, and how it has to establish itself. The interaction between unresolved problems on the one hand, and the search for better solutions or explanations on the other, leads to a change in paradigma and to the formation of new lines of reasoning. As long as the real world is subject to progress and change scientific search for explanation must out of necessity continue.

Details

International Journal of Social Economics, vol. 12 no. 3/4/5
Type: Research Article
ISSN: 0306-8293

Article
Publication date: 14 August 2007

John J. Kineman and K. Anil Kumar

To propose a conceptual paradigm for unifying concepts of material, living and spiritual nature, based on the natural philosophy of Gregory Bateson and the more formal relational…

Abstract

Purpose

To propose a conceptual paradigm for unifying concepts of material, living and spiritual nature, based on the natural philosophy of Gregory Bateson and the more formal relational theories of Robert Rosen.

Design/methodology/approach

The paper combines Bateson's natural philosophy with the relational meta‐theory of Robert Rosen to develop the world view we believe Bateson argued for. It shows that the assumptions of this view correspond with Vedic philosophy. An integral view of nature that can underlie mechanistic and relational science is provided.

Findings

Bateson's natural philosophy can be interpreted in terms of Rosen's relational concepts to provide a unifying view of nature based on information entailments. This is described in terms of an irreducible complementarity between abstract and material aspects of nature (corresponding to Bateson's “mind and nature”) that forms a causally effective, or “necessary” unity. Encoding and decoding relations correspond with Bateson's ideas of patterns and information. The general application of this view suggests a reality not unlike the “immortal luminous being” described in the Vedas and Upanishads of India.

Originality/value

The paper shows why the dualistic/mechanistic view of nature is inadequate for understanding living systems and natural complexity. It describes a more general foundation from which living and generative aspects of nature can be studied. This corresponds with the Vedic concept of intrinsic value (divinity) in nature, and lends support to deep ecology ethics. As Bateson argued, the relational view can be an ethical instrument, leading away from conflict as to understand better the roots of interconnectedness.

Details

Kybernetes, vol. 36 no. 7/8
Type: Research Article
ISSN: 0368-492X

Keywords

Article
Publication date: 1 July 1986

Anghel N. Rugina

The first Principia Mathematica (1686) by Sir Isaac Newton with reference to natural philosophy and his system of the world has largely contributed to the first revolution in…

Abstract

The first Principia Mathematica (1686) by Sir Isaac Newton with reference to natural philosophy and his system of the world has largely contributed to the first revolution in scientific thinking in modern times. It has created the conceptual basis of modern science in the classical tradition by providing the tools of analysis and the technique of reasoning in terms of stability—from—within or, as we would say today, the model of stable equilibrium conditions.

Details

International Journal of Social Economics, vol. 13 no. 7/8
Type: Research Article
ISSN: 0306-8293

Open Access
Article
Publication date: 12 October 2021

Xu Zhang and Tianjiao Wang

Francois Quesnay, known as the “Confucius of Europe”, was profoundly influenced by traditional Chinese culture to form his thoughts, which contained strong Chinese…

1237

Abstract

Purpose

Francois Quesnay, known as the “Confucius of Europe”, was profoundly influenced by traditional Chinese culture to form his thoughts, which contained strong Chinese characteristics. This paper aims to examine economic thought of Francois Quesnay from the perspective of the construction of socialist political economics with Chinese characteristics.

Design/methodology/approach

Moreover, his thoughts also profoundly influenced subsequent economists, such as Adam Smith and Karl Marx. It can be said that Francois Quesnay was at the intersection of Chinese, Western and Marxist thought systems, so it is quite important to examine his thoughts critically and conduct source-tracing in China.

Findings

Hence, in the process of constructing and developing socialist political economy with Chinese characteristics, there is an urgent need to focus on exploring the value of excellent traditional Chinese culture at the theoretical level and combining the development and dissemination of the history of thoughts and the historical position of Chinese reality to realize the innovation and development of socialist political economy with Chinese characteristics.

Originality/value

Meanwhile, while absorbing nutrition from excellent traditional Chinese culture, it is necessary to establish scientific coordinates rather than use the discourse systems and paradigms of Western economics to interpret ancient Chinese economic thoughts. It is necessary to adhere to, inherit and develop Marxist political economy and absorb nutrition from Chinese excellent traditional culture to construct socialist political economy with Chinese characteristics.

Details

China Political Economy, vol. 4 no. 2
Type: Research Article
ISSN: 2516-1652

Keywords

Article
Publication date: 13 February 2017

Leon Monroe Miller

The purpose of this paper is to contribute to research on the impact that the creation of value theory has on professional, organizational, and economic performance. However, a…

Abstract

Purpose

The purpose of this paper is to contribute to research on the impact that the creation of value theory has on professional, organizational, and economic performance. However, a special emphasis is on explicating the theoretical foundation of the concept.

Design/methodology/approach

This paper is based on a hermeneutic study of the relationship between value creation and managing economic resources. The paper traces the value creation concept to its roots from the foundation of Western Civilization through the value theory of Adam Smith and up to recent technological age advancements in value theory.

Findings

Since its emergence the value concept has been explicated in an abundance of literature. However, there has been very little in regards to explanations detailing the theoretical underpinnings of the concept. According to John Stuart Mill, attempts to apply value theory will fail (due to misinformation or inaccurate information) without inclusiveness of the full scope of what is relevant for social science and social economic research.

Research limitations/implications

Although studies on organizational behavior encompass the economic aspects of research economic research tends to be narrower in scope making it difficult to verify some value claims in economic terms. This is especially true in terms of making claims in regards to the connection between economic value theory, social value theory, the Philosophy of Economics, and the Philosophy of Science.

Practical implications

The study introduces a theoretical framework for integrating the value added and value creation concepts as a strategy for increasing shareholder benefits, stakeholder capital, and social capital.

Social implications

The paper explains how the value creation concept contributes to an increase in wealth, prosperity, flourishing by drawing from a technological age approach to value creation.

Originality/value

The paper fills the void in the literature regarding the theoretical framework of the concept thus undergirds claims about its practical benefits by clarifying its theoretical framework.

Details

International Journal of Social Economics, vol. 44 no. 2
Type: Research Article
ISSN: 0306-8293

Keywords

Article
Publication date: 25 September 2007

Stuart Hannabuss

81

Abstract

Details

Reference Reviews, vol. 21 no. 7
Type: Research Article
ISSN: 0950-4125

Keywords

Article
Publication date: 26 July 2011

Bonna Jones

The purpose of this paper is to bring the concept of a “hierarchy of action”, as it is currently being used in other fields, into library and information science (LIS).

Abstract

Purpose

The purpose of this paper is to bring the concept of a “hierarchy of action”, as it is currently being used in other fields, into library and information science (LIS).

Design/methodology/approach

Hierarchy theory is adopted to describe three hierarchies of action, which include the human processes of semantic and social innovation, as well as a system of biological interpretence, from which human processes are thought to have evolved as a development of biosemiosis in nature. By way of example, it is argued that a text is a complex achievement, and hierarchy theory shows how to account for this complexity; the everyday definition of “text” is augmented with accounts from different levels of observation.

Findings

The concept of a hierarchy of action enables a person to account for a text as a meaning/symbolic product; include in that account the processes whereby texts are produced and used; and say why these processes are important to the health of the biosphere that is called home.

Originality/value

“Hierarchy of action” has been developed as a concept in biology and ecology; it belongs to a way of thinking whereby human reality, like nature, is construed as dynamical processes operating in symbiotic relationship with each other; it has not yet been adopted in LIS with reference to hierarchy theory and its potential is yet to be explored.

Article
Publication date: 18 February 2022

Muhammad Iqbal Anjum

This paper aims to contribute an Islamic critique of various competing economic system’s theories of interest, which have evolved within the distinct ideological frameworks of…

Abstract

Purpose

This paper aims to contribute an Islamic critique of various competing economic system’s theories of interest, which have evolved within the distinct ideological frameworks of distinct rival economic systems and religions from the point of view of discovering potential effective Islamic economic solutions of the interest-driven modern economic, financial and banking and debt crises and the related problems of inflation, extreme, wealth inequalities and extreme poverty.

Design/methodology/approach

This historical research paper portrays the chronological evolution of competing narratives and theories of interest in realms of religions, philosophies and rival economic systems for contributing their comparative review and critique from an Islamic point of view in light of the pertinent literature of multidisciplinary history of religions, philosophies and economic thought. It develops an Islamic critique of theories of interest in light of interactions among history of religious thought on interest, history of economic thought on interest and economic theories of interest and the interest-driven economic crises for highlighting potential Islamic interest-free solutions of the modern economic crises in the framework of the Islamic political economy. In light of an Islamic critique of various competing theories of interest, the paper presents pertinent economic policy recommendations for the governments of the countries of the contemporary Muslim world.

Findings

The interest-free Islamic economic, as well as banking theories and models, offer the potential practical exploitation-free and injustice-free humanitarian solutions of the contemporary persisting macroeconomic crises (national, regional and global economic crises, financial crises, debt crises and banking crisis). Current Islamic discourses on interest and interest-free Islamic banking have effectively promoted the popularity and growth of global Islamic banking industry in the Muslim world in the 21st century.

Practical implications

Keeping in view a general universal consensus of the Islamic jurists on the elimination of interest of all types from the economy, it is recommended for the Governments of the Muslim countries to implement a consensus-based Islamic banking model, which uses only the Islamic juristic consensus-based Islamic modes of banking and finance – Musharikah, Mudharabah and Al-Qardh Al-Hassan (interest-free loan) – for precluding the possibilities of emergence of controversies about the prospective Riba-free Islamic economic and banking system. Litmus test of the practical success of the interest-free Islamic universal economic and banking system is the successful elimination of all forms of Riba (interest) and all possibilities of its involvement in extractive and exploitative activities in letter and spirit.

Originality/value

This research paper contributes a comprehensive logical and objective critique of various competing prominent theories of interest from an Islamic economic point of view and highlights their pertinent practical macroeconomic problems-cum-consequences as well as the potential Islamic macroeconomic policy responses in the form of interest-free Islamic banking/monetary/fiscal policies.

Details

International Journal of Ethics and Systems, vol. 38 no. 4
Type: Research Article
ISSN: 2514-9369

Keywords

Article
Publication date: 1 March 1977

SHUI YIM TSE

Older in its origins than any English Redbrick university, the University of Strathclyde is planning a new library building. A librarian from British Columbia outlines its history…

Abstract

Older in its origins than any English Redbrick university, the University of Strathclyde is planning a new library building. A librarian from British Columbia outlines its history up to its present multi‐purpose structure.

Details

Library Review, vol. 26 no. 3
Type: Research Article
ISSN: 0024-2535

Article
Publication date: 1 August 2002

Günter Krause

Describes how the work of Eugen Dühring was regarded by Karl Marx and Friedrich Engels. It is underlined that the preoccupation of Marx and Engels with Dühring was accorded…

Abstract

Describes how the work of Eugen Dühring was regarded by Karl Marx and Friedrich Engels. It is underlined that the preoccupation of Marx and Engels with Dühring was accorded central importance in the history of Marxism. Shows the two phases of serious mutual attention between the protagonists of this relationship. The first phase dated from the year 1867/1868 when Dühring reviewed the first volume of Marx’s Capital. It is outlined that this phase has been comparatively little examined in dogma‐historical research up to now. Focuses on the second and most intensive phase of the engagement of Marx and Engels with Dühring covering the period from the middle of the 1870s to the start of the 1880s. Examines the climax represented by the Engels’ polemic Herrn Eugen Dühring‘s Revolution in Science and standing in the history of Marxism as the programmatic characteristic of the relationship of Marx and Engels to Dühring. Highlights the political‐ideological premises determining the Dühring debate.

Details

Journal of Economic Studies, vol. 29 no. 4/5
Type: Research Article
ISSN: 0144-3585

Keywords

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