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Book part
Publication date: 2 December 2021

Charles R. McCann

William Amasa Scott was in his time well-known as a monetary economist as well as a popularizer of economic ideas, whose opinions were widely regarded by the public. A proponent…

Abstract

William Amasa Scott was in his time well-known as a monetary economist as well as a popularizer of economic ideas, whose opinions were widely regarded by the public. A proponent of Austrian economics and defender of classical economic theory, he soon found a home at the School of Economics, Political Science and History (later the School of Economics) at the University of Wisconsin which, while initially a mainstream department, would evolve into the citadel of Institutional Economics. Notwithstanding his status as an authority on monetary economics and his place as a public intellectual, he remained at the University something of an outsider throughout his career and today is largely forgotten.

Details

Research in the History of Economic Thought and Methodology: Including a Symposium on Frank Knight's Risk, Uncertainty and Profit at 100
Type: Book
ISBN: 978-1-80071-149-5

Keywords

Content available
Book part
Publication date: 2 December 2021

Abstract

Details

Research in the History of Economic Thought and Methodology: Including a Symposium on Frank Knight's Risk, Uncertainty and Profit at 100
Type: Book
ISBN: 978-1-80071-149-5

Book part
Publication date: 29 August 2018

Paul A. Pautler

The Bureau of Economics in the Federal Trade Commission has a three-part role in the Agency and the strength of its functions changed over time depending on the preferences and…

Abstract

The Bureau of Economics in the Federal Trade Commission has a three-part role in the Agency and the strength of its functions changed over time depending on the preferences and ideology of the FTC’s leaders, developments in the field of economics, and the tenor of the times. The over-riding current role is to provide well considered, unbiased economic advice regarding antitrust and consumer protection law enforcement cases to the legal staff and the Commission. The second role, which long ago was primary, is to provide reports on investigations of various industries to the public and public officials. This role was more recently called research or “policy R&D”. A third role is to advocate for competition and markets both domestically and internationally. As a practical matter, the provision of economic advice to the FTC and to the legal staff has required that the economists wear “two hats,” helping the legal staff investigate cases and provide evidence to support law enforcement cases while also providing advice to the legal bureaus and to the Commission on which cases to pursue (thus providing “a second set of eyes” to evaluate cases). There is sometimes a tension in those functions because building a case is not the same as evaluating a case. Economists and the Bureau of Economics have provided such services to the FTC for over 100 years proving that a sub-organization can survive while playing roles that sometimes conflict. Such a life is not, however, always easy or fun.

Details

Healthcare Antitrust, Settlements, and the Federal Trade Commission
Type: Book
ISBN: 978-1-78756-599-9

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Article
Publication date: 1 June 2005

Peter R. Senn

The purpose of this article is to study how the German historical schools are treated in the histories of economic thought as the background for an exploration of some…

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Abstract

Purpose

The purpose of this article is to study how the German historical schools are treated in the histories of economic thought as the background for an exploration of some historiographical issues in the history of economic thought.

Design/methodology/approach

The study describes the contributions of the members of the German historical schools from a variety of different viewpoints and attitudes toward the history of economic thought.

Findings

One conclusion is that several of the things most of the economists of the German historical schools desired are now part of mainstream economics. These include an enlarged scope of economics, changes in the role of the state in economic life, attention to the relationships of law and economics and recognition of the importance of history. Another conclusion is that several historiographical and methodological problems important for the history of economic thought need further study.

Originality/value

The study helps to explain and understand some historiographical aspects of the history of economic thought. It examines practices, principles, theories, methodology and forms of presentation of scholarly historical research on one subject in the history of economic thought.

Details

Journal of Economic Studies, vol. 32 no. 3
Type: Research Article
ISSN: 0144-3585

Keywords

Article
Publication date: 1 June 1995

Peter R. Senn

Describes how the opinions about Wilhelm Roscher and his workdeveloped during the century following his death in the USA. Possiblereasons for the changes are explored. Special…

Abstract

Describes how the opinions about Wilhelm Roscher and his work developed during the century following his death in the USA. Possible reasons for the changes are explored. Special attention is given to the more favourable reception of Roscher in the USA as opposed to the UK. A central point is that his influence and importance in the USA changed as time passed and with the development of professional economics. Suggests new reading of Cunningham′s essay. Attention is drawn to some of Roscher′s works in English that have been neglected. Some problems of periodization in the history of economic thought are investigated. Several conventional judgements are challenged and possibilities for further research suggested.

Details

Journal of Economic Studies, vol. 22 no. 3/4/5
Type: Research Article
ISSN: 0144-3585

Keywords

Book part
Publication date: 25 June 2010

Daniele Besomi

Business cycle theory is normally described as having evolved out of a previous tradition of writers focusing exclusively on crises. In this account, the turning point is seen as…

Abstract

Business cycle theory is normally described as having evolved out of a previous tradition of writers focusing exclusively on crises. In this account, the turning point is seen as residing in Clément Juglar's contribution on commercial crises and their periodicity. It is well known that the champion of this view is Schumpeter, who propagated it on several occasions. The same author, however, pointed to a number of other writers who, before and at the same time as Juglar, stressed one or another of the aspects for which Juglar is credited primacy, including the recognition of periodicity and the identification of endogenous elements enabling the recognition of crises as a self-generating phenomenon. There is indeed a vast literature, both primary and secondary, relating to the debates on crises and fluctuations around the middle of the nineteenth century, from which it is apparent that Juglar's book Des Crises Commerciales et de leur Retour Périodique en France, en Angleterre et aux États-Unis (originally published in 1862 and very much revised and enlarged in 1889) did not come out of the blue but was one of the products of an intellectual climate inducing the thinking of crises not as unrelated events but as part of a more complex phenomenon consisting of recurring crises related to the development of the commercial world – an interpretation corroborated by the almost regular occurrence of crises at about 10-year intervals.

Details

A Research Annual
Type: Book
ISBN: 978-0-85724-060-6

Article
Publication date: 13 March 2020

Farzana Quoquab, Jihad Mohammad and Ruzanna Shahrin

Though the concern over pro-environmental behavior is growing, there is a lack of a valid scale to measure pro-environmental behavior in nutricosmetics context. Nutricosmetics…

Abstract

Purpose

Though the concern over pro-environmental behavior is growing, there is a lack of a valid scale to measure pro-environmental behavior in nutricosmetics context. Nutricosmetics products are believed to boost health and fitness and thus gained worldwide popularity. Many consumers in recent days are purchasing nutricosmetics products because of its positive impact toward human health and less harm toward the environment. However, to date, there is no valid instrument to measure this construct. To fill this gap in the existing literature, this study aims to develop a valid and reliable scale to measure pro-environmental behavior in nutricosmetics purchase (PEB-NP).

Design/methodology/approach

To develop and validate the PEB-NP scale, a sequential process is followed which includes item generation, item selection, item purification and item validation. Relevant literature was reviewed and qualitative interviews were carried out to generate the items. Next, experts’ opinion was sought to select the items. Two studies were conducted (N = 150, N = 448) to explore the factor structure and to validate the scale. Exploratory factor analysis (EFA) was used to purify the scale, whereas confirmatory factor analysis (CFA) using SmartPLS (version 3) was used to validate the scale.

Findings

Based on EFA output, 14 items were retained which were then validated using CFA. The results revealed that, PEB-NP is a hierarchical multi-dimensional construct. The dimensions are “environmental aesthetics,” “conservation behavior (reduce and recycle)” and “health consciousness.” The findings from CFA confirmed the EFA results and established that pro-environmental behavior is a third-order factor model in which conservation dimension is consisted of two sub-dimensions, namely, “reduce” and “recycle” behavior.

Practical implications

The newly developed scale will enable the marketers and policymakers to segment their consumers based on this scale to better strategize the marketing efforts in fulfilling their needs. Not only this, the PEB-NP scale will benefit marketers in understanding the behavioral pattern and purchase preference of the pro-environmental consumers with regard to the nutricosmetics consumption. This research also provides suggestions for future researchers in the pro-environmental behavior and nutricosmetics fields.

Originality/value

This study is a pioneer study to develop and validate the PEB scale in the context of nutricosmetics purchase.

Details

International Journal of Pharmaceutical and Healthcare Marketing, vol. 14 no. 2
Type: Research Article
ISSN: 1750-6123

Keywords

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