Found 7 article(s) for author 'Economic Theory'

The Case for a Bold Economics

The Case for a Bold Economics. Dani Rodrik, March 11, 2019, Opinion, “Although economists are well positioned to imagine new institutional arrangements, their habit of thinking at the margin and sticking close to the evidence at hand encourages an aversion to radical change. But, when presented with new challenges, economists must envision new solutions – as a new group is determined to do.Link

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Immigrant Entrepreneurship in America: Evidence from the Survey of Business Owners 2007 & 2012

Immigrant Entrepreneurship in America: Evidence from the Survey of Business Owners 2007 & 2012. William Kerr, April 2018, Paper, “We study immigrant entrepreneurship and firm ownership in 2007 and 2012 using the Survey of Business Owners (SBO). The survival and growth of immigrant-owned businesses over time relative to native-founded companies is evaluated by linking the 2007 SBO to the Longitudinal Business Database (LBD). We quantify the dependency of the United States as a whole, as well as individual states, on the contributions of immigrant entrepreneurs in terms of firm formation and job creation. We describe differences in the types of businesses started by immigrants and the quality of jobs created by their firms.Link

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Raising Keynes: A General Theory for the 21st Century

Raising Keynes: A General Theory for the 21st Century. Stephen Marglin, February 2018, “Keynes wrote the General Theory with three goals in mind: to transform policy, theory, and economic method. My book, Raising Keynes, scheduled for publication in 2019, argues that he failed in his quest for a new method, and this failure undermined the theoretical novelty of the General Theory, so that it relatively quickly was assimilated to the economic canon as a more sophisticated argument about sand in the wheels.Link

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Populism and the Economics of Globalization

Populism and the Economics of Globalization. Dani Rodrik, June 2017, Paper, “Populism may seem like it has come out of nowhere, but it has been on the rise for a while. I argue that economic history and economic theory both provide ample grounds for anticipating that advanced stages of economic globalization would produce a political backlash. While the backlash may have been predictable, the specific form it took was less so. I distinguish between left-wing and right-wing variants of populism, which differ with respect to the societal cleavages that populist politicians highlight. The first has been predominant in Latin America, and the second in Europe. I argue that these different reactions are related to the relative salience of different types of globalization shocks.Link

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What Happened When Homo Economicus Entered Business School

What Happened When Homo Economicus Entered Business School. Rakesh Khurana, July 14, 2016, Paper, “Since the mid-1970’s neoclassical economic theory has dominated business school thinking and teaching in dealing with business ethics. Neoclassical economic theory employs an incorrect model of human behavior that treats managers as selfish maximizers of personal wealth and power. This model, often referred to as Homo economicus, implies that a firm’s board of directors can best further stockholders’ interests by (a) selecting managerial personnel who are focussed virtually exclusively on personal financial gain, and (b) inducing them to act as agents of the stockholders by devising incentives that minimize the difference between the financial returns to stockholders and the firm’s leading managers.Link

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Choosing Not to Choose

Choosing Not to Choose. Cass Sunstein, October 2014, Article. “Choice can be an extraordinary benefit or an immense burden. In some contexts, people choose not to choose, or would do so if they were asked. In part because of limitations of “bandwidth,” and in part because of awareness of their own lack of information and potential biases, people sometimes want other people to choose for them. For example, many people prefer not to make choices about their health or retirement plans; they want to delegate those choices to a private or public institution that they trust…” Link

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The choice of institutions

The choice of institutions. Alberto Alesina, August 2007, Paper. “The ”classical” economists, Adam Smith, David Ricardo and Karl Marx clearly thought that in socio political forces were important determinants of economic development and change. On the contrary the “neoclassical” school starting with Jevons and Walras developed their economic theories in an institution free environment. Institution free economic theory has been the dominant school of thought at least until the 1990s. There were however a few exceptions…” Link

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