First published in 1997. Routledge is an imprint of Taylor & Francis, an informa company.

The purpose of this translated volume Tadeusz Kowalik's book is to examine Rosa Luxemburg's contribution to economic theory. The essential subject-matter is the dependence of capital accumulation on effective demand, the dependence of economic growth on specific capitalist barriers to growth.

In Architectures of Knowledge, Ash Amin and Patrick Cohendet argue that the time is right for research to explore the relationship between two other dimensions of knowledge in order to explain the innovative performance of firms: between knowledge that is 'possessed' and knowledge that is 'practiced' generally within communities of like-minded employees in a firm. The impetus behind this argument is both conceptual and empirical. Conceptually, there is a need to explore the interaction of knowledge that firms possess in the form of established competencies of stored memory, with the knowing that occurs in distributed communities through the conscious and unconscious acts of social interaction. Empirically, the impetus comes from the challenge faced by firms to the hierarchically defined architecture that bring together specialized units of ((possessed)) knowledge and the distributed and always unstable architecture of knowledge that draws on the continuously changing capacity of interpretation among actors. In this book, these questions of the dynamics of innovating/learning through practices of knowing, and the management of the interface between transactional and knowledge imperatives, are approached in a cross-disciplinary and empirically grounded manner. The book is the synthesis of an innovative encounter between a socio-spatial theorist and an economist. The book results from the delicate interplay between two very different epistemologies and consequent positions, but which progressively converged towards what is hoped to be a novel vision. The book begins by explaining why knowledge is becoming more of a core element of the value- generating process in the economy, then juxtaposes the economic and cognitive theorization's of knowledge in firms with pragmatic and socially grounded theorization's and a critical exploration of the neglected dimension of the spatiality of knowledge formation in firms. The book concludes by discussing the corporate governance implications of learning based on competencies and communities, and a how national science and technology policies might respond to the idea of learning as a distributed, non-cognitive, practice-based phenomenon.

This book is an introduction to the history of - and current measurement practice of - inflation for the United Kingdom. The authors describe the historical development of inflation measures in a global context, and do so without using formal mathematical language and related jargon that relates only to a few specialist scholars. Although inflation is a widely used and quoted statistic, and despite the important role inflation plays in real people's lives - through pension uprating, train tickets, interest rates and the work of economists - few people understand how it is created. O'Neill, Ralph and Smith mix historical data with a description of practices inside the UK statistical system and abroad, which will aid understanding of how this important economic statistic is produced, and the important and controversial choices that statisticians have made over time.

This timely book presents a critique of binary majority rule and provides insights into why, in many instances, the outcome of a two-option ballot does not accurately reflect the will of the people. Based on the author's first-hand experience, majority-voting is argued to be a catalyst of populism and its divisive outcomes have prompted countless disputes throughout Europe and Asia. In like manner, simple majority rule is seen as a cause of conflict in war zones, and of dysfunction in so-called stable democracies. In order to safeguard democracy, an all-party power-sharing approach is proposed, which would make populism less attractive to voters and governments alike. In geographically arranged chapters, well-tested alternative voting procedures (e. g. non-majoritarian Modified Borda Count) are presented in case studies of Northern Ireland, Central Europe, the Balkans, the Caucasus, Russia, China, North Korea and Mongolia.

An increasing body of literature concerns the economics of those highly appreciated qualities of life that are not easily provided by market exchange. Today these problems are visible as never before, for example environmental problems. But already at the dawn of industrial society the problem had been observed by Rousseau. His statements on the economy claim to take these problems into account with due importance. In this way his economic philosophy concerns a different domain of the economy from, for example, Adam Smith's work. Rousseau's philosophy attempts to consider phenomena later labeled information asymmetries and information costs, bargaining, collective good problems. Some of Rousseau's most puzzling social proposals (on theater, women, music, etc.) can be explained by his well-argued conviction that an optimal economy demands a high social morale, a communicative morale. He proposes an economic philosophy for the most important properties of richness - such as experiencing the unique, and being free although dependent on others (empowerment). It is for the adult capable of true deliberation, not for the trifle of the innocent child. He develops a concept of richness that is close to the Aristotelian capability-concept, later explored by Amartya Sen. Rousseau's economic philosophy has not been treated in a monograph before. The book should be rewarding to those interested in social theory, the history of social and economic thought, problems at the margins of market exchange, e.g. cultural economics, environmental economics, students of Rousseau and the thought of the 18th century, welfare economic theory in the direction of Arrow or Sen, and Poanyi's and others' theses about the transition from selfsufficiency to market.

Heinrich von Stackelberg's book, "Grundlagen einer reinen Kostentheorie," published in 1932 was at the forefront of a growing conceptual revolution in the theory of the firm, a theory which appears more relevant than ever in today s economic climate. In this work, Stackelberg masterfully built a theoretical framework which he later developed in Market Structure and Equilibrium.

Foundations of a Pure Cost Theory represents the first translation of the original German version into English. This substantial book offersreaders a critical and technical understanding of the firm, how firms functionand the environments in which they operate. Fundamental notions of cost production, market economy, optimum position and velocities of production are given prominence. Ultimately, this work, which remains largely unknown, can be seen as a milestone text in our understanding of the strategies adopted by firms as a whole.

The book has been meticulously translated from the German into English, retaining the author s examples in their historical context and capturing the spirit of the time with all its subtlety and significance."

Gilboa and Schmeidler provide a new paradigm for modeling decision making under uncertainty. Case-based decision theory suggests that people make decisions by analogies to past cases: they tend to choose acts that performed well in the past in similar situations, and to avoid acts that performed poorly. The authors describe the general theory and its relationship to planning, repeated choice problems, inductive inference, and learning. They highlight its mathematical and philosophical foundations and compare it to expected utility theory as well as to rule-based systems.

By his intellectual contributions in economics, epistemology, ethics, law, philosophy, politic, and psychology, Friederich Hayek has come closest to a unified theory of human action. The central theme is of a natural and spontaneous evolution--founded upon essentially competitive processes, the cultural selection of systems an rules brings order to human affairs. While this book is both comprehensive and concise, Hayek's economics cannot be discussed in isolation. So the author attempts to present an economist's understanding of that which any economist ought to know, or, in Hayek's own terms, "nobody can be a great economist who is only an economist." The book is a comprehensive account of Frederich Hayek's intellectual achievements. In this updated and expanded edition, the author explores the broad features of Hayek's economic philosophy, shows the interrelationship between the liberal philosophy and economic advance, examines Hayek's approach to the problems of a money economy, and explains Hayek's aversion to all forms of centralized economic planning.

This interesting work presents a unique perspective on the history of economic thought by showing that classical economists from Adam Smith to Alfred Marshall had sympathy for workers - for example, the theory of the subsistence wage echoed the theological call for a just wage that existed in the middle ages. It also describes how these thinkers promoted either a set of social obligations or a form of social insurance to assist workers. These economic thinkers of the past argued that a subsistence standard of living was important to maintain and improve workers' efficiency and to raise healthy families. The notion that these writers had an undeveloped theory of social costs that they applied to labor should appeal to economists and others concerned with the plight of workers as the modern economy restructures itself.

Contemporary general equilibrium theory is characteristically short-run, separated from monetary aspects of the economy, and as such does not deal with long-run problems such as capital accumulation, innovation, and the historical movement of the economy. These phenomena are discussed by growth theory, which assumes a given or shifting production function, and in turn cannot therefore deal with the fundamental problem of growth, namely how the production function is derived. Thus traditional theories have a common weakness in that they divorce real economic growth from the activities of the financial sector. This book provides a much-needed synthesis of growth theory and monetary theory. Professor Morishima draws on the work of Schumpeter, Keynes and the pre-war neoclassical economists to formulate a capital-theoretic general equilibrium theory.

This volume is centered around the issue of market design and resulting market dynamics. The economic crisis of 2007-2009 has once again highlighted the importance of a proper design of market protocols and institutional details for economic dynamics and macroeconomics. Papers in this volume capture institutional details of particular markets, behavioral details of agents' decision making as well as spillovers between markets and effects to the macroeconomy. Computational methods are used to replicate and understand market dynamics emerging from interaction of heterogeneous agents, and to develop models that have predictive power for complex market dynamics. Finally treatments of overlapping generations models and differential games with heterogeneous actors are provided.

This book discusses the developments of Sraffian-Ricardian economics, as well as looking at Sraffa's critique of the Marshallian theory of the firm and the industry, his edition of Ricardo's Works and correspondence, his book on production of commodities by means of commodities, and his influence Antonio Gramsci and Ludwig Wittgenstein.

This volume contains the proceedings of the Tenth Keynes Seminar held by Keynes College at the University of Kent at Canterbury in 1991. The purpose of the seminars is to examine for the student and the layman, as well as for the professional economist, the varous aspects of Keynes's life and work.

One of the issues central to both classic and contemporary theories of cognitive development is children's goal-directed behavior, which is typically investigated in terms of strategies. This book brings together in one volume the latest research and theory regarding the development of children's strategies for a variety of cognitive tasks. Opening with a history of strategy development research and concluding with a chapter that integrates the diversity of ideas expressed by the contributors, Children's Strategies offers intervening chapters that examine strategy development for attention, analogical reasoning, mathematics, memory, reading, and problem solving in infancy. Although there is much common ground shared by the various contributors to this volume, there is no consensus concerning what exactly a strategy is. This mixture of consensus and disagreement reflects both the explosion of research in this area since the late 1960's and the complexity of the issues involved. It also reflects the fact that this is a topic that is very much alive in cognitive circles, one that will continue to stimulate research for years to come. The papers in this volume describe current research and theory concerning the development of children's strategies for handling a variety of cognitive tasks. After providing a historical view of the concept of strategies in cognitive development, the book highlights many of the issues of concern to contemporary developmental psychologists interested in strategies. The issues discussed include problem solving in infancy, memory, selective attention, mathematics, analogical reasoning, and reading.

John Maynard Keynes's seminal The General Theory of Employment, Interest and Money remains central to economic debate over sixty years after its publication. This book shows how Keynes's masterpiece is best understood not as an attempt to tackle the immediate policy issues of this age but to extend the range of thought available to economists. Understood as such, it continues to provide the most effective framework to the central issues about the functioning of the economy. The authors offer a clear exposition of Keynes's thought and its continuing relevance for economists in academic, business and government life.

Managing the World Economy , while recognizing how much has been achieved since the start of the Industrial Revolution, challenges the view that much better results could have been attained. It argues that faster economic growth and much better use of the available human talent could have been in the past, and should be in the future, achievable targets. The reasons for the performance of the world economy over the last two hundred years being well below the achievable optimum stem mainly from misconceptions about macroeconomic policy, which the book sets out to explain and correct.

A systematic study contending that the distinctive theory of rationality found at the heart of Keynes' philosophy moulded his economic theorist policy-making, scientific methodology and politics. It aims to resolve his departure from Neoclassical economics to his radical "General Theory".

The Impact of Keynes on Economics in the 20th Century reconsiders the nature and significance of Keynes's theories and economic policies. It provides important contrasting interpretations of Keynesian thought, and illustrates the diversity of Keynesianism in different European countries throughout the century. The book provides a blend of theoretical and historical discussions to evaluate the contents and implications of Keynesianism. It includes reappraisals of modern interpretations of Keynes's thought, the extent to which Keynesian ideas were anticipated in different European countries and the reactions to the Keynesian revolution. In addition the authors consider the impact of Keynesian thought on institutions which embraced, rejected or developed alternatives to this school of thought. The book is divided into three main parts. The first addresses Keynesian theory. The second part presents an overall picture of Keynesian-type policies and theories throughout Europe; many of these were not necessarily stimulated by Keynes but were the outcome of national traditions and on-going debates. The third part is devoted to how Keynesian policy has been used by government and non-governmental organizations in an attempt to deal with unemployment and deflation during the twentieth century. The Impact of Keynes on Economics in the 20th Century will be welcomed by historians of economic thought, economic historians and those interested in Keynesian and post-Keynesian developments in Europe during this century.

'It is a serious piece of scholarship. Integrating economic history, economic thought, patent-hoarding, venture capital and the changing global economy, Kingston asks if modern capitalism might be an internally inconsistent system. Like Schumpeter, he is concerned that creative innovation might be stagnating into institutional ossification. It is an interesting argument, well presented, cross-disciplinary and thought-provoking.' - David Reisman, University of Surrey, UK and Nanyang Technological University, Singapore Capitalism has been sustained by inherited moral values that are now all but exhausted. A unique combination of a new belief in individualism and a long tradition of property rights had traditionally ensured that self-interested action also produced public benefit. However, these rights, including the laws underwriting economic and financial innovation and parliamentary democracy, were gradually captured and shaped by those who could benefit most from them. This fascinating book shows that the outcome is a reduced ability to generate real wealth combined with exceptional inequality, as well as a worldwide breach of the vital trust between voters and their representatives. Capitalism's injuries are both self-inflicted and fatal. William Kingston uniquely deals with capitalism from a property rights standpoint, providing the first convincing explanation of economic cycles in terms of changes to these rights. The lucid exploration of the historical evolution of property includes a remarkable precursor of modern capitalism in medieval culture and pays particular attention to intellectual property. The book also calls attention to the harm that inaccurate measurement of economic activity can cause, both at the micro-level (auditing of corporations) and macro-level (the Kuznets GDP/GNP system). In conclusion, it argues that the exceptional levels of inequality today have been caused primarily by allowing financiers to escape from the laws that traditionally prevented them from 'generating money from nothing'. Challenging the orthodox thinking, this is an essential book for economists and political scientists in academia, the public sector and industry. It offers an imperative warning that capitalism's next crash is coming sooner rather than later.

The papers collected here represent the growing range of issues addressed by both economists and psychologists. The collection's main objectives are twofold: to broaden the behavioral basis of economic analysis at a social level and to expand the limits of economic theory's applicability. The contributors attempt to find a common ground of analysis that bridges disciplines and to establish a framework that integrates psychology's contributions with economics. They explore mathematical models of psychological functions, the use of psychoanalytic theory in economics, entrepreneurial behaviour, and the impact of personality types on organizations.

The study of bureaucracy must include certain key questions: what are bureaucrats and bureaucracies; why do they exist and what are their functions; how do they behave; how much power do they possess; what is their impact on efficiency and production; and how do they affect society? This book contains analyses of all these issues, done by a variety of economists of differing backgrounds, approaches and opinions, broadly categorized under the labels Neoclassical, Institutionalist, and Marxist, although there are overlaps and correspondences that cross ideological and/or paradigmal boundaries. In this book the labels are employed as a guide to the reader with a preference for one approach over the others, and as an indication of how chapters in different sections are related in their approaches.

The Truth can be known with Theanthropic Ethics, which is one of the few scientific ethical categories.

Dr. Brian Keen has researched numerous ethical categories, and has found only Theanthropic Ethics understands that there is one universally applicable Truth. The Truth has practical application in every enterprise, business, or profession.

Any business, enterprise, or profession operating in an ethical manner will have the necessary "POWER" to succeed. Accounting is featured since accountants as professionals must utilize scientific methodologies.

Businesses and enterprises require "POWER Living People" to employ, since ethical employees are an asset in Truth. Many entrepreneurs are "POWER Living People."

Dr. Keen proves through conclusions from objective data that the Truth has relevance for today. Ethical dilemmas can be resolved through adherence to the Truth. For example, would you allow a cashier to accept two $5 bills for a product costing $45, and give a $10 bill for change? Would adherence to a philosophy that 5 + 5 = 55 be sufficient?

Dr. Keen knows the Truth that 5 + 5 = 10 when the same types are added. Living the Truth is ethical when utilizing this scientifically-verifiable ethical category, which is confirmed in Theanthropic Ethics.

This book presents the authentic Adam Smith and explores his underlying approach and radical thinking, aiming to re-establish his original intentions. The book provides a crucial reminder of how relevant Adam Smith was in his own time, and how relevant he remains as we experience the worldwide spread of opulence today.