Jelle Zilstra: A versatile economist

Summary In 1983 Dr. Jelle Zijlstra was a member of the board of editors ofDe Economist for 35 years. At the request of his co-editors, this article has been written to put in a clear light the person and work of Dr. Zijlstra. Zijlstra has been a professor of economics, a minister of economic affairs and of finance in several Dutch cabinets, and, from 1967–1981, President of the Netherlands Bank. During these activities he has made important contributions to economic theory and economic policy, both in legislative work and in various publications. In this article his valuable contributions in such different fields as economic competition, economic order, public finance, monetary theory and central banking policy are analyzed. The author comes to the conclusion that Dr. Zijlstra is an original thinker, who has been a stimulating and inspiring contributor to the different fields of economic theory and economic policy in which he has been active. The author thanks Professor P. Hennipman and Professor S. K. Kuipers for their valuable suggestions.     

Observations on technical change and paretian welfare economics

Summary This article brings together two major topics of economic theory: technical change and Paretian welfare economics. Until now, the tendency has been to study these topics separately. By introducing economic search behaviour in the first phase of technical change, the analysis of technical change is broadened by means of a link between this behaviour and so-called virtual goods. The concept of Pareto optimality is broadened by expanding the space of goods with new and virtual goods. The question is whether the generalized Paretian theory makes it possible to compareex post equilibria after the process of technical change with theex post situation before this process takes place. Although generalized Pareto optimality does not allow a welfare judgement on aprocess of technical change, the theory still provides us with an explanation for the allocation of resources of R&D in terms of consumer preferences and with an analytical device to compare actual economic structures with a generalized Pareto optimum in a static setting.If they (i.e. economists) are to perform their guiding task as conscientiously as possible, it is first necessary that they themselves have proper insight into the regrettably narrow limits of what economics has to offer to politics in terms of purely economic criteria; secondly, that they are aware of the foundations and the substance of their additional sociopolitical valuations and finally, that they do not fail to make these known when advising society. (Hennipman, 1995, p. 174).This article is a condensed revised version of my Prof. dr Pieter Hennipman Lecture of February 23, 1993. Some time after the presentation of the lecture, I had the opportunity to discuss several issues with my beloved teacher. No doubt this version benefited from his comments. 1 A notable exception is K.J. Arrow (1962, pp. 210–228).     

Misunderstandings concerning income distribution policies

Summary In this essay in honour of Professor P. Hennipman the latter's clarity and precision of expression are chosen as an example of how to avoid misunderstanding of his publications. As counterexamples some twenty-odd misunderstandings are set out by the essay's author in the field of income distribution policies, ranging from that specific subject to the theory of economic policy, to economic science and to science as a whole. Several of these misunderstandings are due to the essay's author, while others seem to prevail either among the general public or among scientists.     

Filosofische tijbegrippen in de economische wetenschap en het tijdaspect der economische verschijnselen

Summary In this article the author attempts to bridge the gulf between philosophy and economics by tracing the development of two philosophical time concepts in economic science. First the concept of transcendental time connected since the Greeks with ideas about natural laws is discussed and the breakthrough of this concept into economics in the works of the Thomists and the Physiocrats. Secondly the author deals with the concept of immanent time and its influence on the economic thinking of the later members of the historical school in Germany (Sombart and Max Weber). This evolution of time concepts in economics has been accompanied by different views on economic laws. Originally these were interpreted as nature-oriented, metaphysical laws, which are called transcendental apriori's. Later on, especially in the thinking of the classical economists, these laws were regarded as the ultimate starting-points of economic reasoning; in so far they have this meaning they are called cognitive apriori's. The concept of immanent time resulted in the verstehende Methode. The author emphasizes the fact that the two time concepts have always been closely related with ideas about scientific methods: that of transcendental time with the search for premises which embody the ultimate causes of economic phenomena; that of immanent time with investigations layingstress on the historically relative character of those phenomena. The immanent method contributed to the greater differentiation and subjectivation of the premises which for a long time were used in economic theory and also to the development of a specific economic time concept. This concept comprises the abstract theoreticalperiod as well as its practical counterpart, theterm, which is used in empirical analysis in order to determine the factual length of these periods.

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Op deze plaats wil ik gaarne mijn grote erkentelijkheid uitspreken jegens prof. dr. P. Hennipman, prof. mr. dr. K. Kuypers, prof. dr. H. A. J. F. Misset, mevr. drs. E. M. Barth, drs. J. H. Brussee, drs. J. P. J. Fit en drs. H. Leliveld die mij bij het schrijven van dit artikel met raad en daad terzijde hebben gestaan.     

金融危机下中国经济振兴政策——兼评凯恩斯的需求理论和供应学派的经济主张

在此次由美国次贷危机引发的金融危机中,我国政府前后推出了一系列政策,这些政策无不是为了稳定金融市场,遏制经济恶化。这些政策方案充分体现了凯恩斯经济学所阐述的需求理论和供应学派经济学所阐述的供给理论,以及与这两种理论相适应的政策建议,对我们具有特别的借鉴意义——因为所有经济问题都可以归结为需求与供给的均衡。     

演化发展经济学与新结构经济学——哪一种产业政策的理论范式更适合中国国情

国际学术界有关产业政策的研究存在着两种不同的理论范式：演化经济学和后新古典经济学,这两种不同的理论范式在发展经济学领域中表现为演化发展经济学和新结构经济学的不同。两者的产业政策基于完全不同的理论基础：技术赶超或比较优势;新结构经济学有关政府作用的理论仍是以新古典经济学的市场失败理论为基础的,而演化发展经济学则在批判市场失败理论的基础上提出了一系列的新理论。在演化发展经济学家看来,新结构经济学不适合于中等收入国家,特别是在运用于作为超大型发展中国家的中国国情时存在着严重的缺陷;即使是运用于低收入国家,也是有局限性的。事实证明,技术赶超而非比较优势战略更适合中国国情;以自主创新为核心的基础全面的价值链升级正是我国所有地方政府都面临的共同挑战,而《吉林报告》则忽视了这一关键问题。《吉林报告》的缺陷说明,聚焦于传统意义上产业部门之间区别的新结构经济学已不适应新国际分工对产业政策提出的新要求,演化发展经济学所关注的价值链特定环节、核心技术和组织能力已经成为产业政策的核心问题。因此,一个重要的问题就摆在了中国经济学界的面前：是通过新结构经济学研究中国经济发展问题,还是在演化发展经济学基础之上,针对中国作为超大型发展中国家的国情,发展一种历史和国情特定的中国经济发展理论?     

贵州经济周期波动的特征、成因及对策

本文依据经济周期波动的相关理论,运用"阶梯周期法"、"离差分析法",并结合三次产业波动,投资、消费等因素对改革开放以来贵州经济运行的整体特征和成因进行了分析。研究结果表明,改革开放以来贵州经济波动强度降低,正逐渐从短周期向中周期过渡,但与全国相比,经济扩张能力和抗衰退能力相对较弱;三次产业中,第一、二产业对经济波动影响较大,相比全国,第三产业对经济增长的影响程度较低;在投资、消费两因素中,投资增长的波动决定着贵州经济的波动。本文还对以上研究结论给出了解释并提出了相关的政策建议。     

转型经济研究的新视角：演化宏观经济学——对马耶夫斯基观点的述评

演化经济学的兴起和发展为转型经济的研究提供了一个崭新的视角。文章主要介绍俄罗斯学者马耶夫斯基所提出的演化宏观经济理论以及他对于俄罗斯转型经济的分析与建议。处于经济转型过程中的国家应该如何制定宏观经济政策，以保证经济持续健康发展，形成自主创新能力？对于这个问题，马耶夫斯基进行了深入的分析，这对我国的经济改革和政策制定具有重要的参考价值和借鉴意义。     

TOWARD BRIDGING THE GAP BETWEEN THEORY AND EMPIRICAL REALITY

Introductory (i.e. first year) undergraduate learners often perceive economics to be remote from reality and overly theoretical, leading to a lack of motivation and enthusiasm to study economics. A general survey of curriculum practice reveals that lecture materials and the pedagogic approach to teaching introductory economics often do not place the current “mainstream” economic theory into its philosophical context. The result being that the learners are unable to bridge the gap between abstract economic theory and empirical reality. This paper argues that research into effective teaching and learning should focus not only on learner characteristics but also on curriculum content and its philosophical underpinnings, in order to research why students hold these negative perceptions. The paper recommends that introductory undergraduate teaching needs to engage in a critical examination, with the learner, of the philosophical underpinnings of “mainstream” economic theory and to introduce debates about the implications of these into the curriculum. This would create exciting new opportunities for teachers and learners to explore the connections between economic theory and social science in general and should come a long way in changing the negative perceptions of introductory undergraduate economics.     

Interdisciplinary economics

Summary Starting from Robbins and Hennipman and with the help of Becker and Lindenberg a theoretical framework has been constructed within which the strong points of economics and sociology are combined,viz,. the formal but relatively bare-bones modelling of economics and the often so much richer, in terms of social content, analysis of sociology. This theoretical framework also appears to enable more balanced analyses of the effectiveness and efficiency of legislation and regulation than the kind of law and economics so much in fashion at the moment, which is often not devoid of economism and in whichhomo econornicus still all too often figures as the prototype of man.(Economic Institute/Centre for Interdisciplinary Research on Labour Market and Distribution Issues (CIAV)); Associate of The Netherlands Interdisciplinary Demographic Institute (NIDI) in The Hague and the Interuniversity Center for Social Science Theory and Methodology (ICS). This article is an adapted version of my inaugural lecture.     

A Survey of the Theoretical Economic Literature on Foreign Aid

This paper surveys the theoretical economic literature on foreign aid—in particular, the aid donor–recipient relationship. Economic theory, especially new institutional economics, can be very helpful in understanding foreign aid relationships—especially the incentive problems involved—and in designing institutions to improve aid effectiveness. In particular, it helps in understanding the chain of principal–agent relations inherent in the aid delivery system and the resulting potential for agency problems. The survey shows that economic theory can improve the design of cooperation modalities by aligning the incentives of donors and recipients for poverty reduction, but that, in order to address the problems, policy analysis must take into account the constraints faced by stakeholders in the aid relationship. The aid 'contract' should thus seek to improve the agents' incentives to use aid effectively, given the circumstances of the developing country.     

Cosmology and economics

Abstract

Economics has become the political magic of the twentieth century, and contention over economic policy is the political lifeblood of the modern state. The glare of publicity highlights the equilibrism of economic policy, leaving in the shade diplomacy and statecraft of former days. There is a consensus in modern society and in the modern state that political debate and economic discussion are two sides of the same coin, and that “economics”, like a second law of nature, sets the limits of the political options. Economic reform, economic adjustment, economic “rescue plans” and so on are synonyms for political strategies. Politics is the management of the “economy”, and at the same time “economics” is the authority to which all appeal as the “necessity”, as the authority that governs and legitimises policy.     

泛珠三角经济合作及其产业政策问题研究

区域产业协调发展是区域经济协调发展的主要问题之一,目前国家产业政策中缺乏明确的区域产业政策,因此本文从区域经济的理论基础出发,对于泛珠三角经济区域产业政策提出了总体的构想,并给予了相应的政策建议。     

Experimental Methods for the General Economist: Five Lessons from the Lab

I review five primary results from experimental economics that impact the economics profession as a whole. These results regard the relative (un)importance of subject sophistication in laboratory markets, the importance of gender on economic outcomes, the propensity for humans to behave in less than fully rational ways, the importance of trading institutions on economic performance, and the behavioral relevance of economic theory. I find that economics as a profession has benefited from the use of experimental methods by fostering a dialogue between theorists and empiricists, better informing policy and improving data collection techniques.     

Stages of growth revisited

Neoclassical growth theory and the institutional approach to economic development grew apart during the 1970s and 1980s. More integration of these two schools of thought can lead to better analysis and policy. This paper identifies shortcomings of the neoclassical model, especially an overemphasis on savings and investment, and explores stages of growth theory in the context of institutional economics. Its strengths and weaknesses and its application to South Africa are considered.     

政府经济规制工具:一种政策工具的应用性研究视角

政府经济规制工具由时行业进行间接干预的经济规制政策和对行业进行直接干预的经济规制工具构成.应用经济规制工具的理论阐释主要是由福利经济学和分配正义理论及政治的与官僚行为的理论组成.我国应用政府经济规制工具的思考及导向:要克服传统经济规制工具弊端,应用激励性规制工具;预防反竞争的行为;完善经济规制工具的信息管理;应用有效竞争理论下的经济规制工具来减少经济规制成本;应用亲竞争规制工具.     

What’s wrong with the theory of racial inequality: Toward a more effective theory of racial inequality in economic life

Explaining or resolving the apparent incompatibility between tradi-tional economic theory and the persistence of racial inequality or dis-crimination in economic life has been the most significant motivation for conventional studies of race and economics. The conventional theory that resulted from this interest, however, has been of limited utility in advancing understanding of racial inequality in economic life. This essay discusses an alternative to the conventional theory that is intended to facilitate a better understanding of racial inequality. It is also designed to provide a more effective tool for the evaluation and design of policy. The alternative model takes the existence of racially distinct groups and initial racial difference in the ownership of resources as given and exogenous. It is specified in a manner that allows the evolution of racial inequality over time to be explained. The structure of the model responds to challenges posed by Robert S. Browne to develop viable economic theories useful in the study of the interaction of race and economics.     

Marktanalyse en markttheorie

Summary The introduction of expectations in market theory has increased its dynamic nature and realism. It is argued that only the incorporation of historical time in the theory will suggest the market development patterns needed by analysts. Dynamic market theory can usefully be based on the development stages of the product cycle. The scope of such a theory is much wider than is currently acknowledged. It comprises entrepreneurial theory, the theory of profits, competition and industrial change, and provides the building blocks of a theory of international business. The application of methods of analysis in the various stages of market development is mentioned.

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Rede, uitgesproken bij de aanvaarding van het ambt van lector in de bedrijfshuishoudkunde aan de Universiteit van Amsterdam op 27 april 1971. Prof. Dr. P. Hennipman heeft door zijn critische opmerkingen wezenlijk bijgedragen tot de formulering en nuancering van het gegeven betoog.     

A dismal science; An essay on new classical economics

Summary Does new classical economics constitute a scientific achievement? Are its basic concepts demonstrably appropriate representations of fundamental characteristics of economic reality? An inspection of the relevant models shows that this is not the case. There exists hardly any empirical evidence which can be interpreted as foundational for the concepts employed in new classical microeconomics. It is more accurate to view the latter as mathematically convenient constructions which yield desired results - which often means: results that seem to be relevant for policy making. Finally, the new classical approach to macroeconomics appears to originate in substantial confusions about the nature of this subject.I am grateful to Pieter Stobbe for long and frequent discussions about economic theory which have helped to shape the views I put forward in this article. I should also like to thank Jan Marc Berk who provided research assistance. I alone am responsible for what follows.