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1.
Winch Donald 《Scottish journal of political economy》1997,44(4):384-402
The paper contrasts what modern economists, reflecting the priorities of general equilibrium theory, expect to find in the Wealth of Nations with Smith's own much broader theoretical and policy concerns. A theory of growth in which increasing returns are pervasive conflicts not only with neo-classical expectations but with the emphasis on diminishing returns to be found in Smith's classical successors. Smith's assumptions on rationality, technology, firms, 'projectors', and the incompleteness of markets do not square with post-Walrasian criteria. In advancing practical solutions Smith also shows more concern for the problems of living in a second-best world than is common in pure theories of the invisible hand and the thinking of some of his free-market admirers. 相似文献
2.
Ben Cooper 《Journal of Evolutionary Economics》2000,10(4):395-413
One way of thinking about research and development is to recognise that firms are trying to solve particular design problems. We often build these design problems into our models, but are forced to oversimplify them in order to make the models solvable.
The approach taken in this paper is to acknowledge that design problems are often insoluble using standard techniques and
to model instead the process by which firms solve them. Two such processes are simulated in detail. The first, individual experimental search, is based
on a problem-solving technique known as simulated annealing. The second, partial imitation, involves learning at a social level and is based on a problem-solving technique known as
the genetic algorithm. Some economic implications of these processes are explored, including their application to stochastic learning curves, patent
design and the importance of `technodiversity' in the introduction of new technology to developing countries. 相似文献
3.
Randall G. Holcombe 《The Review of Austrian Economics》2006,19(2-3):189-201
Adam Smith's “invisible hand” is one of the best-known phrases in economics, but its meaning is somewhat ambiguous. The invisible
hand might be viewed as holding the economy close to equilibrium, yet Smith actually says that individuals are led by an invisible
hand. Entrepreneurial forces lead an economy along a path that generates economic progress, and that path is determined by
the disruptive forces of entrepreneurship. Rather than viewing an economy as tending toward an equilibrium, it is more accurate
to view an economy as characterized by continuing progress, led by the invisible hand of entrepreneurial activity.
JEL Code B53, D21, E32, O31 相似文献
4.
Eyüp Özveren 《Journal of Evolutionary Economics》2000,10(1-2):49-65
This paper evaluates Schumpeter's grand vision as reflected in his Capitalism, Socialism and Democracy, and elaborates it in conjunction with the so-called “globalization” trends characteristic of the wake of the twenty-first
century. In addition to the evolutionary nature of his methodology, the institutionalist dimension of Schumpeter's definitions
are brought to light. A case is made for a fundamental process of “uncreative destruction” as far as the institutional setup
of the economy is concerned. The contention of this paper is that there is ample support in Schumpeterian analysis for a counterpoint
to the liberal thesis that envisages the worldwide spread of individualism, market economies, and democratic forms of government. 相似文献
5.
Alexander Ebner 《Journal of Evolutionary Economics》2000,10(3):355-372
This essay addresses the historical and institutional aspects of Schumpeter's thought. It suggests that Schumpeter prepared
a pluralist research agenda, formulated in accordance with the conceptual perspective of the German Historical School, as
presented by major scholars such as Schmoller, Sombart, Spiethoff and Max Weber. Schumpeter's notion of development, with
its emphasis on the correspondence of economic and socio-cultural evolution, is therefore to be viewed in the context of the
comprehensive Schmollerian approach. Moreover the ethical-evolutionary components of Schmoller's ideas point at the vital
role of the German Historical School in the elaboration of a modern evolutionary economics in Schumpeterian terms. The essay
concludes that the Schmollerprogramm is going to inspire further developments in Schumpeterian economics, as the integration of theory and history continuously
marks the research agenda of evolutionary approaches to economic development. 相似文献
6.
Abstract. In this paper we look at unemployment as a phenomenon which reflects the co-ordination problems that characterize out-of-equilibrium
processes of adjustment. The analysis carried out shifts the focus from structural factors to the economic process. It shows
that unemployment cannot be satisfactorily explained – and policy interventions devised – by focusing only on specific characters
of the technology or confining the analysis to structural factors concerning the labour market. The co-ordination mechanisms
of adjustment processes rather than the fundamentals of the economy appear, in this light, as the main determinants of differences
in unemployment trends in different economies; and monetary policy comes back to the center of the stage as an essential element
of the working of these mechanisms.
RID="*"
ID="*" We thank anonymous referees for their very useful comments, and Elena Lega for the helpful support to the simulation
analysis carried out.
Correspondence to: J.-L. Gaffard 相似文献
7.
Joïlle Noailly Jeroen C.J.M. van den Bergh Cees A. Withagen 《Journal of Evolutionary Economics》2003,13(2):183-200
Abstract. Economic theories of managing renewable resources, such as fisheries and forestry, traditionally assume that individual harvesters
are perfectly rational and thus able to compute the harvesting strategy that maximizes their discounted profits. The current
paper presents an alternative approach based on bounded rationality and evolutionary mechanisms. It is assumed that individual
harvesters face a choice between two harvesting strategies. The evolution of the distribution of strategies in the population
is modeled through a replicator dynamics equation. The latter captures the idea that strategies yielding above average profits
are demanded more than strategies yielding below average profits, so that the first type ends up accounting for a larger part
in the population. From a mathematical perspective, the combination of resource and evolutionary processes leads to complex
dynamics. The paper presents the existence and stability conditions for each steady-state of the system and analyzes dynamic
paths to the equilibrium. In addition, effects of changes in prices are analyzed. A main result of the paper is that under
certain conditions both strategies can survive in the long-run.
Correspondence to: J. Noailly 相似文献
8.
Evidence of falling wages in Catholic cities and rising wages in Protestant cities between 1500 and 1750, during the spread
of literacy in the vernacular, is inconsistent with most theoretical models of economic growth. In The Protestant Ethic, Weber suggested an alternative explanation based on culture. Here, a theoretical model confirms that a small change in the
subjective cost of cooperating with strangers can generate a profound transformation in trading networks. In explaining urban
growth in early-modern Europe, specifications compatible with human-capital versions of the neoclassical model and endogenous-growth
theory are rejected in favor of a “small-world” formulation based on the Weber thesis. 相似文献
9.
Evolutionary economics and economic geography 总被引:19,自引:0,他引:19
This article attempts to explore how key notions from Evolutionary Economics, such as selection, path-dependency, chance and increasing returns, may be applied to two key topics in Economic Geography. The first issue is the problem of how to specify the (potential)
impact of the spatial environment on new variety in terms of technological change. Evolutionary thinking may be useful to
describe and explain: (1) the process of localized `collective' learning in a regional context, (2) the adjustment problems
that regions may be confronted with in a world of increasing variation, and (3) the spatial formation of newly emerging industries
as an evolutionary process, in which the spatial connotation of increasing returns (that is, agglomeration economies) may result in a spatial lock-in. The second issue is the problem of how new variety may affect the long-term evolution of the spatial system. We distinguish
three approaches that, each in a different way, apply evolutionary notions to the nature of spatial evolution. This is strongly
related to the issue whether mechanisms of chance and increasing returns, rather than selection and path-dependency, lay at the root of the spatial evolution of new technology. 相似文献
10.
Mark Tomlinson 《Journal of Evolutionary Economics》1999,9(4):431-451
This paper examines the `learning economy' from the perspective of occupational characteristics and changes in the British
labour market between 1980 and 1992. Following a discussion of the learning and knowledge economy, cross-sectional employment
data are analysed to ascertain which occupations can be classified as knowledge-based. Longitudinal career history data are
then used to trace the flows of these `knowledge workers' over time. Sectoral shifts are examined, with a particular focus
on the knowledge-intensive service sectors. The data come from the Employment in Britain survey: a large-scale employee survey from 1992. The approach used allows us to measure somewhat intangible aspects of economic
behaviour such as learning and tacit knowledge and attempt to trace their flows. Shifts in knowledge from the manufacturing
to the service sector are shown to be important and related to previous work which demonstrated the importance of knowledge
intensive business services for both output and productivity in manufacturing. 相似文献
11.
The artificial context “Target the Two” has been used in experiments to explore some of the features of routinization and
learning. Two agents must learn to coordinate their actions to achieve a common goal, without being allowed to use verbal
communication. This article reports an experiment, in which we compare the degree of routinization and the performance of
players in two treatments. Each treatment submits players to the same sequence of starting configurations, but differs in
terms of the payoff function. In the first treatment (A), the payoff is based on the number of moves required to achieve the
goal, whereas in the second treatment (B) the payoff depends on the time required for completion. We observe that (1) in treatment B subjects tend to play in a more “routinized” way and (2) treatment B reduces the time spent on play, but does not decrease the resources (the number of moves) used, relative to treatment A. 相似文献
12.
Jean Cartelier 《European Journal of the History of Economic Thought》2013,20(3):409-427
The opposition between productive activity (agriculture) and unproductive ones (the others) underlies the Tableau économique. Smith borrows Quesnay's theory of production but deeply transforms it into a distinction between productive and unproductive labour. In any case, it seems quite natural to relate the increase of the wealth of a nation to the relative importance of productive activities vis-à-vis unproductive ones. Quesnay and Smith both share this view. However, if Smith is perfectly right in doing so, Quesnay has failed to prove a definite relation between the fraction of the revenue spent with respect to the productive sector, on the one hand, and the level or growth of the revenue, on the other. Differences in political philosophy may account for this unequal analytical performance. 相似文献
13.
Abstract. Enrollment rates to higher education reveal a quite large variation over time which cannot be explained by productivity shocks
alone. We develop a human capital investment model in an overlapping generations framework that features endogenous fluctuations
in the demand for education. Agents are heterogeneous in their beliefs about future wage differentials. An evolutionary competition
between the heterogeneous beliefs determines the fraction of the newborn generation having a certain belief. Costly access
to information on the returns to education induces agents to use potentially destabilizing backward looking prediction rules.
Only if previous generations experience regret about their human capital investment decisions, will agents choose a more sophisticated
prediction rule that dampens the cycle. Access to information becomes key for stable flows to higher education.
RID="*"
ID="*"We would like to thank Cars Hommes, Florian Wagener, seminar participants at the University of Amsterdam, participants
of the workshop on ‘Skill Needs and Labor Market Dynamics’ at the Wissenschaftszentrum Berlin für Sozialforschung (WZB) for
helpful discussions, and an editor of this Journal and three anonymous referees for their comments. Tuinstra's research is
supported by the Netherlands Organisation for Scientific Research (NWO) under a MaG-Pionier grant. Neugart acknowledges financial
support from the German Ministry of Education. Parts of the research were done while Tuinstra was visiting the WZB and when
Neugart was visiting CeNDEF.
Correspondence to: The research for this paper was done while the first author was affiliated with the Wissenschaftszentrum Berlin für Sozialforschung. 相似文献
14.
The paper reinterprets Schumpeter's views on the dynamic effects of taxation, as originally expressed in Crisis of the Tax State, from a Kaleckian perspective. In light of Schumpeter's rejection of Keynesian and Marshallian approaches to taxation, the
paper argues that a recently developed Kaleckian approach provides an appropriate basis from which to analyse the effects
on the business cycle of balanced changes in the structure of taxation. It is shown that, under certain shifting assumptions,
increases in the taxation of wages or profits will stimulate investment and attenuate the amplitude of the business cycle.
Ultimately, the shifting of taxes reduces to a conflict over income shares. The changing distribution of income in the United
Kingdom in recent years suggests that investment is likely to remain sluggish unless there is a significant reversal of income
shares. This may give rise to increasing economic and political tensions into the 21st century. 相似文献
15.
A simple framework is presented in which, each period, each of N individuals chooses among K alternatives. Individual actions are interrelated through a social network which arrays the strength of influence of each
person on each other person. Emphasis is on the role of the network. The framework accommodates a variety of particular contexts,
suggests theorems, and unifies a sizable part of the fragmented literature on network interaction. 相似文献
16.
In contrast with Professor Young's views ( Pacific Economic Review , 1, 137–45), this paper argues (1) that Adam Smith came to his conclusion about the "invisible hand" before 1766, and hence the intellectual debt, if any, of Smith to the great Chinese historian Sima Qian via the agency of Turgot and the two Chinese visitors is minimal; and (2) that the allocative function of the price mechanism is explicit not only in The Wealth of Nations but also in Adam Smith's lecture notes and other writings from his years at Glasgow University before he left for Europe in 1764. 相似文献
17.
The power of ESS: An experimental study 总被引:3,自引:0,他引:3
Abstract. Our experimental design mimics a traditional evolutionary game framework where players are matched pairwise to play a symmetric
33 bimatrix game that has two Nash equilibria. One equilibrium is an evolutionary stable state, or ESS; the other is an equilibrium
in dominated strategies. Our primary experimental result is the observation that the ESS becomes extremely attractive when
subjects have minimal information about the payoff functions, although the dominated equilibrium assures the highest equilibrium
payoff. The attractiveness of the ESS is only moderate when players are completely informed about the 33 payoff matrix.
Correspondence to: S.K. Berninghaus 相似文献
18.
Amartya Lahiri 《Economic Theory》2001,17(1):197-208
Summary. The paper presents a human capital driven endogenous growth model which, in general, permits a multiplicity of equilibrium
balanced growth paths. It is shown that allowing for perfect capital mobility across countries increases the range of parameter values for which the model permits equilibrium indeterminacy. As opposed to the closed capital markets
case, simple restrictions on preferences are no longer sufficient to eliminate the indeterminacy. Intuitively, under perfect
capital mobility agents are able to smooth consumption completely. This induces an economy with open capital markets to behave
like a closed economy with linear preferences thereby increasing the possibility of equilibrium indeterminacy.
Received: 18 November 1998; revised version: 10 August 1999 相似文献
19.
William Kingston 《Journal of Evolutionary Economics》2000,10(1-2):83-108
Individual property rights are fruitful for economic development because they civilise self-interest by forcing it to serve
the common good. The history of previous property rights “cycles,” however, shows that their ability to do this deterioriates
over time because the laws of property fall under the control of those whom property is meant to discipline. Irresponsible
ownership then intensifies inequality until a breaking point is reached. The present cycle is no exception, but its breaking
point has been postponed by the growth of the democratically-inspired welfare state.
Globalisation is now eroding the financial basis of this, because mobile capital can escape taxation, leaving labour to carry
the burden. The main thrust of this movement is now found in the World Trade Organisation, whose control of intellectual property
and commitment to free trade in money as well as goods, can only increase inequality between countries as well as within them.
It represents individual property rights which are out of any form of social control, since there is no global mechanism for civilising self-interest. Schumpeter's sense of the impending demise of capitalism, if not of its replacement
by socialism, may yet be vindicated. 相似文献
20.
Could institutional reform have saved Easter Island? 总被引:1,自引:0,他引:1
This paper extends the Brander and Taylor general-equilibrium model of population and resource management dynamics to a variety of institutional settings. The authors simulate the economic history of Easter Island, modifying the model to
examine the impact of market institutions and different property-rights structures. The major finding of the paper is that
modification of the economic institutions on Easter Island could have damped the feast-and-famine cycles that plagued its
later history. 相似文献