摘要:

SUMMARYThe purpose of this paper is to discuss the process of social change as understood by KarlMarxand modern property rights theorists. Differences between KarlMarxand modern property rights theorists are quite substantial. Yet, KarlMarxand modern property rights theorists have one thing in common: the perception about the importance of property rights structures on the character of economic life. Same as modern property rights theorists, Marxrecognized that the solution of the social problems is not merely the task of reason but that the process of social change is caused by forces and movements that work from within the existing social system. Marxviewed economics as the study of property rights over scarce resources. As man learned to apply human work to the production and use of tools, it became essential to specify the relations among men with respect to the right to use those intermediate goods. And that meant the development and specification of property rights. Thus, Marxdeduced the historical necessity of property rights from the initial subordination of man to nature and his survival instincts. The most important difference between Marxand property rights scholars lies in the method of analysis. Modern property rights scholars are methodological individualists. They view the capitalist community as a voluntary association of utility seeking individuals. Instead of exogenously‐imposed ‘common good’, emphasis in the capitalist community is on the right of ownership and contractual freedom which allow each individual the freedom of choice and the obligation to bear the costs of pursuing his own preferences, Marxviewed the process of social change as occurring in a series of historically predetermined discontinuous sequences. Thus, he viewed the development of property rights as both endogenous to the prevailing stage of economic development and pre‐ordained by the laws of

ISSN:0023-5962    

DOI:10.1111/j.1467-6435.1982.tb01222.x

出版商:Blackwell Publishing Ltd    

年代:1982

数据来源: WILEY

摘要:

SUMMARYThis article critically reviews the development and present state of information theory in labor markets. Since the first generation of the new microeconomics, important progress has been made. However, a compact theory including both the various forms of information problems and the associated behavioral reactions still does not exist. Much work remains to be done in order to achieve a general and comprehensive foundation of macroeconomics. Moreover, application of such models to reality is not possible because there are no conclusive empirical tests. The strict neoclassical approach used in these models must be regarded as their principle weakness. The more reality differs from neoclassical assumptions, the more important is the — complementary — macro foundation of micro economics. This should include the analysis of collective decisions on the macro level and their effect on the individual market participant. Finally, some recent empirical and theoretical ideas are presen

ISSN:0023-5962    

DOI:10.1111/j.1467-6435.1982.tb01223.x

出版商:Blackwell Publishing Ltd    

年代:1982

数据来源: WILEY

摘要:

SUMMARYThis paper is intended to highlight the role of cost increases in the inflation process. In the course of the analysis a distinction is made between three different types of cost inflation: (i) exogenous cost impulses; (ii) competing income claims, both by way of bargaining in markets and by competition in the political arena; and (iii) attempts to preserve the purchasing power of income. Each category is discussed in some detail. The paper also discusses alternative methods of fighting cost inflation, including some issues pertaining to cost‐accommodating demand management and incomes polic

ISSN:0023-5962    

DOI:10.1111/j.1467-6435.1982.tb01224.x

出版商:Blackwell Publishing Ltd    

年代:1982

数据来源: WILEY

摘要:

SUMMARYThis paper is an empirical investigation of the hypothesis that there exists a positive relationship between the inflation rate and its variability. The hypothesis is tested for a sample of eighteen industrial countries for the period 1949‐1970. In contrast to most previous studies, policy makers are allowed to revise their desired inflation rate by calculating a six‐year moving average. The homogeniety assumption across countries is relaxed and the relationship between the average inflation rate and its variability over time is examined within each country. In addition, the argument that government financial policy is responsible for the variability of the inflation rate is reexamined in the context of a fixed‐exchange‐rate open economy; an alternative source of inflation variability is proposed‐international inflation. A procedure that separates out the influence of the world inflation rate is developed and the relationship between the average inflation rate and its measure of variability attributable to domestic government financial policy is examined. The findings of this study provide less pervasive support than previous studies of the existence of a positive relationships between the inflation rate and its variability. Moreover, the positive causality uncovered might be due more to international inflation than to the actions of domestic financial au

ISSN:0023-5962    

DOI:10.1111/j.1467-6435.1982.tb01225.x

出版商:Blackwell Publishing Ltd    

年代:1982

数据来源: WILEY

摘要:

SUMMARYAccording to Kondratiefflong term economic growth in industrialized countries is characterized by a 40‐ to 60‐years‐long cycle. The existence of this cycle is much debated. This article presents a spectral analytic test of the long cycle on the basis of price and volume series for Great Britain, France, Germany and the United States. In addition, long cyclical relations between prices and production and the relations between these variables internationally are analyzed by means of cross spectral analysis. The results of these analyses seem to confirm the existence of a Kondratieff‐cycle in prices, but contradict the existence of a (simultaneous) long cycle in real va

ISSN:0023-5962    

DOI:10.1111/j.1467-6435.1982.tb01226.x

出版商:Blackwell Publishing Ltd    

年代:1982

数据来源: WILEY

摘要:

SUMMARYThe life cycle hypothesis of consumption and rational (in the sense of Muth) expectations implies under certain additional, but not very restrictive, assumptions that real consumption follows an univariate first order autoregressive process. This implication was tested in the framework of bivariate autoregressive models with Swiss quarterly macroeconomic data. A slightly modified variant of the stepwise modelling approach suggested by Hsiaowas applied. The hypothesis was rejected with respect to a ‘Neo‐Ricardian’ definition of disposable income and real stock prices. By contrast, the test with the conventional definition of disposable income brought not significant results. These findings rise some doubts about the usual specification of macroeconometric consumption functions and their policy implica

ISSN:0023-5962    

DOI:10.1111/j.1467-6435.1982.tb01227.x

出版商:Blackwell Publishing Ltd    

年代:1982

数据来源: WILEY

摘要:

Book reviewed in this ArticleBain, AndrewD.:The Economics of the Financial SystemBarnett, WilliamA.:Consumer Demand and Labor SupplyBensoussan, Alain; Kleindorfer, Pauland Tapiero, CharlesS. (Eds.):Applied Stochastic Control in Econometrics and Management ScienceBurmeister, Edwin:Capital Theory and DynamicsChandler, AlfredD., Jr. and Daems, Herman(Eds.):Managerial HierarchiesChipman, JohnS. and Kindleberger, CharlesP. (Eds.):Flexible Exchange Rates and the Balance of PaymentsCline, WilliamR. and Weintraub, Sidney(Eds.):Economic Stabilization in Developing CountriesGeipel, Ute:Makroökonomische KonjunkturanalyseHerder‐Dorneigh, Philipp; Sieben, GÜnterund Thiemeyer, Theo(Hrsg.):Wege zur GesundheitsökonomieHWWA‐Institut:Analyse der strukturellen Entwicklung der deutschen WirtschaftJames, Simon:A Dictionary of Economic QuotationsKampkÖtter, Horst:Einzelwirtschaftliche Ansätze der ProduktionstheorieKaufer, Erich:Theorie der Öffentlichen RegulierungKmenta, J. and Ramsey, J. B. (Eds.):Large‐Scale Macro‐Econometric ModelsLampert, Heinz:SozialpolitikMÁndi, PÉter:Education and Economic Growth in the Developing CountriesNygÅrd, Fredrikand Sandström, Arne:Measuring Income InequalityOdagiri, Hiroyuki:The Theory of Growth in a Corporate EconomyOhr, Renate:Internationale Interdependenz nationaler Geld‐ und Güter‐märkte bei flexiblen WechselkursenOtruba, Heinrich:Wirtschaftliches Verhalten bei UngleichgewichtPasinetti, LuigiL.:Structural Change and Economic GrowthRosensghon, Astrid:Verschwendung in Staat und MarktRoskamp, KarlW. and Forte, Francesco(Eds.):Reforms of Tax Systems — Réformes des systèmes fiscauxSimon, JulianL.:The Ultimate ResourceTennstedt, Florian:Sozialgeschichte der Sozialpolitik in DeutschlandTobin, James:Vermögensakkumulation und wirtschaftliche AktivitätWeizsÄc

ISSN:0023-5962    

DOI:10.1111/j.1467-6435.1982.tb01228.x

出版商:Blackwell Publishing Ltd    

年代:1982

数据来源: WILEY

ISSN:0023-5962    

DOI:10.1111/j.1467-6435.1982.tb01229.x

出版商:Blackwell Publishing Ltd    

年代:1982

数据来源: WILEY

ISSN:0023-5962    

DOI:10.1111/j.1467-6435.1982.tb01230.x

出版商:Blackwell Publishing Ltd    

年代:1982

数据来源: WILEY