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To the extent that management accounting is based on neo‐classical economics, all decision‐making is assumed to be rational, aimed at utility or profit maximisation and all circumstances influencing decisions are accepted as stationary. The approach excludes all social, cultural or historical considerations and is based on perfect information that is freely available. Neo‐classical economics further assumes that minimum government intervention, which is regulated by competition, will result in maximum benefit for society as a whole. This paper aims to determine the extent to which management accounting theory has been based on these limiting assumptions and finds that emerging management accounting theory is increasingly based on alternative, more liberating foundations. This situation is in contrast to management accounting education in South Africa, which remains almost entirely based on neo‐classical economics.

Justice has, of late, re‐emerged as an important area of professional concern for all economists. However, in that justice is a fundamentally normative, value‐laden concept it proves troublesome to those who aspire to the strictures of “positive science”. This puts social economists in a position of distinct advantage in the consideration of justice issues for they are avowedly normative in their approach. The intention in this essay, implicit in the title, is to make some contribution to the explicit articulation of the justice criteria ensconced in the instrumentalist theory of value, and to suggest the affinity of this view with social economics.

A collection of essays by a social economist seeking to balance economics as a science of means with the values deemed necessary to man′s finding the good life and society enduring as a civilized instrumentality. Looks for authority to great men of the past and to today′s moral philosopher: man is an ethical animal. The 13 essays are: 1. Evolutionary Economics: The End of It All? which challenges the view that Darwinism destroyed belief in a universe of purpose and design; 2. Schmoller′s Political Economy: Its Psychic, Moral and Legal Foundations, which centres on the belief that time‐honoured ethical values prevail in an economy formed by ties of common sentiment, ideas, customs and laws; 3. Adam Smith by Gustav von Schmoller – Schmoller rejects Smith′s natural law and sees him as simply spreading the message of Calvinism; 4. Pierre‐Joseph Proudhon, Socialist – Karl Marx, Communist: A Comparison; 5. Marxism and the Instauration of Man, which raises the question for Marx: is the flowering of the new man in Communist society the ultimate end to the dialectical movement of history?; 6. Ethical Progress and Economic Growth in Western Civilization; 7. Ethical Principles in American Society: An Appraisal; 8. The Ugent Need for a Consensus on Moral Values, which focuses on the real dangers inherent in there being no consensus on moral values; 9. Human Resources and the Good Society – man is not to be treated as an economic resource; man′s moral and material wellbeing is the goal; 10. The Social Economist on the Modern Dilemma: Ethical Dwarfs and Nuclear Giants, which argues that it is imperative to distinguish good from evil and to act accordingly: existentialism, situation ethics and evolutionary ethics savour of nihilism; 11. Ethical Principles: The Economist′s Quandary, which is the difficulty of balancing the claims of disinterested science and of the urge to better the human condition; 12. The Role of Government in the Advancement of Cultural Values, which discusses censorship and the funding of art against the background of the US Helms Amendment; 13. Man at the Crossroads draws earlier themes together; the author makes the case for rejecting determinism and the “operant conditioning” of the Skinner school in favour of the moral progress of autonomous man through adherence to traditional ethical values.

Examines the sources and implications of Mikhail Gorbachev′s policies insofar as they have been policies of liberalization. It is principally argued that Marxism has been a Western phenomenon and thereby a vehicle for the export of Western Enlightenment values to Third World countries but also to the Soviet Union itself. The nature and role of Marx′s analyses are considered in that light. So also are the status of nationalism in the USSR, the historical meaning and promise of socialism, the role of the legal‐economic nexus in the social reconstruction of reality in the USSR and in Central and Eastern Europe, the relevance to those developments of the emerging new European and world systems, and the relevance of all these for social economics.

After a clarification of definitions important in methodological discussions, a brief history of early methodological thought in economics and political economy is presented. The development of “orthodox” methodology is traced, and the fundamental assumptions underlying neoclassical economic methodology are enumerated. Philosophical positions – both critical of and sympathetic to the orthodox assumptions – are presented. In addition, the advantages and disadvantages of various heterodox positions are surveyed. Throughout the paper, methodological justifications for the emphasis on primarily deductive, complex mathematical models in contemporary economics as practiced in the USA – especially in light of the relevance and importance of primarily verbal, interpretive methodologies in the realm of applied and policy‐oriented economics – are examined.

Under this heading are published regularly abstracts of all Reports and Memoranda of the Aeronautical Research Council, Reports and Technical Memoranda of the United States National Advisory Committee for Aeronautics and publications of other similar Research Bodies as issued.

The term “social economics” has been in currency ever since J.S. Mill coined the phrase to cover the inductive study of the groups and social unions that man forms, guided by the principle of social altruism, to conduct his economic relationships. Although Mill rejected this approach in favour of deductive, self‐interested political economy, others, notably Wieser, J.M. Clark and Weber, have all tried to enact their versions of social economics in the centre stage. Even though Weber's theories became prominent in sociology, and both Clark and Wieser have their disciples, the study and theoretical development of social economics has remained at the periphery, making little impact upon the unswaying hold of the neo‐classical microeconomic orthodoxy.

The purpose of this paper is to present a numerical approach for investigating different phenomena during multiple liquid drop impact on air‐water interface.

The authors have used the coupled level‐set and volume‐of‐fluid (CLSVOF) method to explore the different phenomena during multi‐drop impact on liquid‐liquid interface. Complete numerical simulation is performed for two‐dimensional incompressible flow, which is described in axisymmetric coordinates.

During drop pair impact at very low impact velocities, the process of partial coalescence is observed where the process of pinch off is different than single drop impact. At higher impact velocities, phenomena such as bubble entrapment are observed.

In this paper, a new approach has been developed to simulate consecutive drop impact on a liquid pool.

This paper illustrates how two contemporary economic traditions - New Institutional and Austrian economics - may be used to add insight into the organization and governance of public sector investment programs. When combined, these frameworks offer a theoretical foundation that may be used for purposes of assessing relative levels of agency and transactions costs within different institutional settings. The insights provided suggest that one option for reducing these costs is to “outsource” the public sector investment function. The theories explored in the paper are not panacea for dealing with agency and transaction costs, but they do draw attention to key institutional characteristics that influence their size.

Makes and attempts to substantiate, the following claims: It was Marshall′s objective to show how poverty could be ameliorated. He located the causes of poverty in the institutions of the state, education, monopoloid business enterprise, and the working‐class family. He viewed institutions as structures and as organized social behaviour. He explained that the latter is conditioned by customs. Some of these are rooted in the legend‐enshrouded past and hence change‐resisting. Other customs are change‐promoting by virtue of being engendered in scientific, technological, and educational processes. Marshall recommended that the state be reformed through a strengthening of democratic processes and that this be followed by state‐engineered reform of monopoloid institutions and of educational institutions. These reforms would result in increased institutionalization of dynamic behaviour and accelerated deinstitutionalization of static behaviour. The outcome would be an increase in welfare. Because of his recommendations. Marshall considered himself a socialist.