bluuebunny/crossref_metadata_2025_split huggingface dataset:
Monetary Policy Without Monetary Targets
Authors: Dow J. C. R. , Saville I. D. 
Published: October 2003

AbstractThe authors pursue a number of aims. They begin by placing monetary policy within the wider framework of general economic policy. They continue by examining the domestic role of monetary policy and how they see it developing in the future. This is followed by a discussion specifically on exchange rates, which the authors see as the major area of importance for monetary policy. The chapter concludes with a brief discussion of the mix between monetary and fiscal policy.
Keynes's Vision
Authors: Fitzgibbons Athol 
Published: October 2003

Abstract
This is an overview of the writings of John Maynard Keynes. It shows that a logically coherent structure of ideas, based on a single vision, permeated all aspects of Keynes's thought. This vision integrated Keynes's theories of probability and uncertainty with his moral and political philosophy.
Keynes's probability theory rejected both pseudo‐quantification and undue scepticism. His macroeconomics assumed that the world was complex and changing, and that many elements in a decision could not be meaningfully quantified. In many respects, his political philosophy, which was meant to be a third way to Marxism and laissez‐faire, reflected his economics. It treated the economy neither as a perfect machine nor as a system doomed to failure, but as a fallible human institution subject to judgement, and improvable by human reason.
All of Keynes's writings are considered, including his unpublished early works. This history of economic thought discusses the meaning and development of Keynes's system, considers how it changed over time, and shows that he was misled by an exaggerated notion of the power of ideas.
Capitalism as Creative, Chaotic Evolution by Structural Change
Authors: Goodwin Richard M. 
Published: October 2003

AbstractAs in meteorology, prediction in economics is hampered by highly irregular, chaotic dynamics. A two‐sector model is employed to examine the complementary growth theories of Schumpeter and Keynes showing that innovation can lead to a decline in output. A brief history of the chaos theory follows noting that linear systems subject to shocks can appear chaotic. Finally, a further model demonstrates that innovation may stimulate a boom and subsequent collapse in output.
Classical Dynamics: The Corn Economy
Authors: Goodwin Richard M. 
Published: October 2003

Abstract
Deals with the classical dynamical problem of technological advances in an agricultural (corn) economy. Goodwin asserts that two mis‐specifications—concerning labour supply and technical progress—hampered classical models. A discrete time model is proposed with corn production embedded in a wider economy. The model has a chaotic attractor, and highly erratic market dynamics follow even in the absence of exogenous shocks.
Growing in Short and Long Waves: Schumpeter
Authors: Goodwin Richard M. 
Published: October 2003

AbstractCombines long and short waves of innovation. A model is constructed in which demand effects enhance an innovation logistic: innovation is preceded by investment, which stimulates demand, in turn facilitating the spread of the innovation. Each innovative burst produces a wave of output growth. A major innovation (e.g. steam, electricity) with a 50‐year logistic can distort an underlying 8‐year economic cycle, producing a great boom followed by a bust. A limitation of the model is that each wave returns to its initial level. A continuous time model with a growth cycle (and a Rössler attractor) overcomes this limitation.
Introduction
Authors: Drèze Jean , Sen Amartya 
Published: October 2003

Abstract
Hunger in the modern world is introduced as the main topic of the book. Chronic hunger is distinguished from famine and elementary notions that are to be used throughout the book are clarified. In this enumeration, concepts such as entitlement, capability, deprivation, and social security receive special attention. Concludes by highlighting the challenges facing public action in its attempt to eliminate hunger.
Nutrition and Capability
Authors: Drèze Jean , Sen Amartya 
Published: October 2003

Abstract
The difficulties in defining, describing, and measuring hunger and the consequences of this problem on public policy are highlighted. Mention is made of the deficiencies of the traditional nutritional analysis as a measure of food deprivation and people undernourishment, and ways to solve this problem are suggested. The last part draws on the advantages of the capability approach (and the concept of entitlement) in studying deprivation.
Society, Class and Gender
Authors: Drèze Jean , Sen Amartya 
Published: October 2003

AbstractThe authors note the misleading nature of the distinction between man‐made and natural famine, before moving on to emphasise the role of social conditions and cooperative conflicts in the genesis of hunger. Attention is drawn to the unequal treatment in intrafamily divisions, especially female deprivation, and the role of gender in hunger. They conclude by highlighting the differences between the concepts of protection and promotion.
Famines and Social Response
Authors: Drèze Jean , Sen Amartya 
Published: October 2003

AbstractThis is the first of four chapters dedicated to famines. It begins by emphasising the role of public intervention in avoiding famines and then elaborates on the advantages of thinking of famine prevention in terms of an entitlement protection problem. It notes how any action should take into account the informal security systems already in play and describes some aspects of them, with special reference to sub‐Saharan Africa. Concludes with some reflections on early intervention.
Experiences and Lessons
Authors: Drèze Jean , Sen Amartya 
Published: October 2003

Abstract
Some experiences in India and Africa are examined and lessons drawn from them. The authors show how the entitlement protection efforts of India since independence help explain the lack of famines, and then focus on the 1970 Maharashtra drought. They analyse the success stories of Cape Verde, Kenya, Zimbabwe, and Botswana in Africa, referring again to the importance of entitlement protection systems. Special attention is given to the role of early intervention, private trade, diversification of economic activity and public distribution.
Production, Entitlements and Nutrition
Authors: Drèze Jean , Sen Amartya 
Published: October 2003

Abstract
The problem of public action in combating persistent undernutrition and endemic deprivation is raised. The argument is made for broadening the attention from food self‐sufficiency to food adequacy, from food adequacy to food entitlements, and from the latter to nutritional and related capabilities, always observing the link between these variables. The role of diversification and the potential process of industrialisation is considered, giving some attention to cash crops.
China and India
Authors: Drèze Jean , Sen Amartya 
Published: October 2003

AbstractTaking advantage of the similarities between China and India when they began their development planning, an assessment is made of their achievements and how eventually China had greater success than India in fighting endemic deprivation. The Chinese experience is seen as a success story of support‐led security solving the problem of chronic hunger. This is contrasted with the unsuccessful experience with the Chinese famine. The last part focuses on Kerala, which, although one of the poorer states in India, has managed to achieve high levels of life expectancy.
Experiences of Direct Support
Authors: Drèze Jean , Sen Amartya 
Published: October 2003

Abstract
The strategy of support‐led security is examined, reflected in the experiences of some selected countries, in particular, Sri Lanka, Chile, and Costa Rica. This strategy is distinguished by the use of public support (such as public health services, educational facilities, food subsides) to raise the standard of living without waiting for the country in question to achieve prosperity through sustained economic growth.
The Objective of Catching Up
Authors: Brus Włodzimierz , Laski Kazimierz 
Published: October 2003

Abstract
As the countries of ‘real socialism’ started their transition to socialism under conditions of immaturity in orthodox Marxist (and Schumpeterian) terms, the overriding objective of their revolution was to eliminate the retardation, economically as well as socially and culturally. The Soviet‐type modernization strategy included therefore: (1) very fast growth of industry through massive investment in new industrial capacity (2) selective, unbalanced growth, with resources directed to sectors and activities designated as ‘engines of development’ (3) maximal utilization of existing resources in defiance of conventional cost calculations.
This strategy achieved the initial objectives of rapid expansion of the industrial base, but consistently failed in respect of efficiency of growth, consumption dynamics, propensity to develop and absorb new technologies (‘conservative modernization’). This lack of success became increasingly evident with the passage of time, due to intrinsic inadequacies of the economic system.
The Hungarian Practice
Authors: Brus Włodzimierz , Laski Kazimierz 
Published: October 2003

Abstract
The first practical application of the idea of market socialism (but not necessarily along Lange's model) was made in early 1950s in Yugoslavia after the break with the Soviet Union, and in conjunction with countrywide system of ‘workers’ self‐management’. As for the Soviet‐bloc countries, the dissatisfaction with the command system and a tendency to introduce some elements of market mechanism manifested itself openly in (failed) in Poland, as well as in several other countries starting from mid‐1950s. However, by the beginning of the 1980s, out of all these attempts, only the Hungarian ‘New Economic Mechanism’ survived, albeit not in the initial form of combining central planning with elements of market mechanism. The Hungarian NEM improved somewhat the economic performance, but in fundamentals, it also failed, becoming reduced to a shift from direct bureaucratic control to indirect control from the centre.
The Capital Market and the Problem of Full Employment
Authors: Brus Włodzimierz , Laski Kazimierz 
Published: October 2003

Abstract
In this chapter, the problems related to capital (in addition to product and labour) market as a constitutional element of market socialism proper (MS) are discussed. First, high benign consequences expected from the introduction of equity shares market are stressed. Second, these expectations are confronted with the well‐known tendency of the pure market mechanism to underemployment and cyclical fluctuations. Third, the possibilities and limits to attenuate these phenomena by fiscal and monetary policies in MS are analysed. Fourth, the idea of a general capital charge to be levied on every type of asset owned by firms, regardless of the degree of their liquidity, is proposed. This charge aims to solve the general conflict which may arise in MS between a given distribution of national income and the final use of this income needed for securing both optimal utilization of capacity and full employment. However, the authors do not hide formidable difficulties in combining in MS micro efficiency with macro stability at a satisfactory level of economic activity.
Concluding Remarks
Authors: Brus Włodzimierz , Laski Kazimierz 
Published: October 2003

Abstract
A cruel East European wisecrack defines socialism as ‘the painful road to capitalism’. It may be too much to see in MS simply a stage on this road (or slide, as some would say), but the analysis in this book left little doubt that the disticntions between capitalist and socialist economic systems, as hitherto perceived, become under MS thoroughly blurred. The recourse to MS means that the very idea of a grand design of a supremely rational economy has been acknoledged as utterly fallacious despite the fact that a number of socialist values have to be incorporated into any economic system pursuing objectives worthy of human society.
Economic Perspectives
Authors: Hicks J. R. 
Published: October 2003

Abstract
The chapters contained in this book on money and growth, including two previously unpublished chapters, brings together the work of Sir John Hicks, covering the following: the mainspring of economic growth; industrialism; monetary experience and the theory of money; expected inflation; Hawtrey; recollections and documents; capital controversies, ancient and modern; the disaster point in risk theory; and explanations and revisions.
The Mainspring of Economic Growth
Authors: Hicks John 
Published: October 2003

Abstract
This chapter reviews the changes in John Hicks's economic theory since his Theory of Wages was first published in 1932. In particular, it looks at a chapter entitled ‘Distribution and Economic Progress’ which was to be the first theoretical chapter in that book. Chapter I explains how he has moved away from the ideas presented in that chapter, and in so doing, describes important work he has done in all the time from 1932 to the present.
Expected Inflation
Authors: Hicks John 
Published: October 2003

Abstract
This chapter argues that although it is correct, nowadays, to take it that inflation is expected, it is a mistake to suppose that the expectation of inflation is consistent. One should distinguish between the effects of inflation on different kinds of markets and different kinds of dealings. Any system of prices has to satisfy canons of economic efficiency and canons of fairness — canons which it is very difficult to make compatible.
Capital Controversies: Ancient and Modern
Authors: Hicks John 
Published: October 2003

Abstract
This chapter does not attempt to make a survey of all the known controversies about capital. Instead, it does something much more modest. It takes one particular point, which has figured in many such controversies, and uses it as a means of pulling a part of the story together. This provides an interesting illustration of the way in which the history of John Hicks' studies can be of use to the modern economist.
Explanations and Revisions
Authors: Hicks John 
Published: October 2003

Abstract
Those authors who issue their books in many editions have a regular opportunity of replying to critics; they can show, in the alterations and additions which they make, which of the criticisms that have been made they accept, and which reject. With one major exception, Hicks has not followed that practice. He has nevertheless occasionally made what are in effect such replies; some have not been published, while others have appeared in rather miscellaneous places, so they could easily be overlooked. This chapter brings these together. Topics covered include the Accelerator theory, the two kinds of economic history, the Ricardo machinery effect, and an addendum to Capital and Time.
Logic of Choice and Economic Theory
Authors: Afriat S. N. 
Published: October 2003

Abstract
This book approaches various aspects of economics that have to do with choice, and the opportunity for it, such as individual and social choice, production, optimal programming, and the market. The topics belong mostly to microeconomics, but they also have other connections. The object is to state a view about choice and value and to give an account of the logical apparatus. With this there is a wish to present limited matters fairly completely and unproblematically, and where there is some issue about their nature to consider that also. The book consists of six parts, each containing several chapters.
Parts I–IV deal with generalities about choice, individual or social, and representative economic topics. The remaining parts have more concern with straightforwardly mathematical subjects, which have an application or interpretation for economics but need not be exclusively connected there. Chapters often are fairly self‐contained or belong to sequences that can be taken more or less on their own. The topics are in the main fabric of economic theory, and most students encounter them. A preamble at the start of every chapter tells what it is about; from this and possibly some further scanning, the main ideas should be easily gathered by those who might not be concerned with all details. Expository materials and reworkings of published fragments have been joined with unpublished work from past and recent years. In all there is a view about choice and ‘the optimum’ in economics surely acceptable to some and perhaps what they have always thought but undoubtedly not to everyone.
Introduction
Authors: Afriat S. N. 
Published: October 2003

AbstractThe subject of choice is first introduced, making the point that it is important for economics, but that it is an unsettled subject, even where the issues touched are quite basic. A cause for some general confusion in approaching the subject is ambiguity—not what is meant by choice, but rather how, or where, or why a choice should be perceived in the first place. Other aspects of choice discussed are choice making and choice systems—the simplest idea of which is the range of choice, which comprises all the important variable circumstances, and gives rise to the idea of a choice function. An important part of the subject is where preference gives the model for the government of choice. The second part of the introduction gives an outline of the book, discusses some rules of notation used, and the relative merits of presenting an economic argument in terms of mathematics or by verbal reasoning.
Utility Hypothesis
Authors: Afriat S. N. 
Published: October 2003

AbstractThis is the first of six chapters in Part II about demand and utility cost, a typical area for what is understood as choice theory. It discusses utility hypothesis and the theory of value. Its five sections are: needs of measurement (of utility); common practice and (William) Fleetwood; parallels in theory (as applied to utility construction); revealed preference (as applied to demand functions); and the classical case (of the utility function).
Separable Utility
Authors: Afriat S. N. 
Published: October 2003

Abstract
This is the fourth of six chapters in Part II about demand and utility cost, a typical area for what is understood as choice theory. It discusses separable utility. Its five sections are: models of separability; separability tests (for classical consistency and the more restrictive classical separable consistency); constructions (the definition of mathematical functions that can be constructed on the basis of the solutions to the conditions of separability presented in the previous section); (the) utility dimension (of the separability of a group of goods); and budget separability.
Direct and Indirect Utility
Authors: Afriat S. N. 
Published: October 2003

AbstractThis is the fifth of six chapters in Part II about demand and utility cost, a typical area for what is understood as choice theory. It discusses direct and indirect utility. Its six sections are: purchasing power; the indirect (utility) ‘integrability’ problem; basic relations and properties (of the structure involved with direct and indirect utility, and other features of demand analysis); adjoint of a relation; adjoint of a function; and limit adjoints.
Efficiency and Inefficiency
Authors: Afriat S. N. 
Published: October 2003

Abstract
This is the last of six chapters in Part II about demand and utility cost, a typical area for what is understood as choice theory, and discusses efficiency and inefficiency. Economic theory represents consumers or producers as perfectly efficient, according to various criteria, but in experience, inefficiencies of every kind abound. Models should incorporate this phenomenon, and this chapter investigates some ways of doing that, first for consumers and then for producers. There is also a development of questions about efficiency measurement. The four sections of the chapter are: consumer inefficiency; attainable efficiencies; utility approximation; and production efficiency.
Price and Quantity Levels
Authors: Afriat S. N. 
Published: October 2003

AbstractThis is the first of five chapters about the cost of living problem and price indices, a typical area for what is understood as choice theory. It discusses price and quantity levels. The four sections of the chapter are: price–quantity duality; dual function examples (Cobb–Douglas and Cobb–Douglas, polyhedral and polytope); price and quantity levels; and limits of indeterminacy.
Fisher and Byushgens
Authors: Afriat S. N. 
Published: October 2003

Abstract
This is the third of five chapters about the cost of living problem and price indices, a typical area for what is understood as choice theory. Together with the next two chapters, it discusses theoretical matters arising from the finding of S. S. Byushgens (1925) that Irving Fisher's ‘Ideal Index’ is exact if demand is governed by a homogeneous quadratic utility. The four sections of the chapter are: Byushgens's theorem; the existence question; purchasing power correspondence; and many‐period generalization.
Leontief's Input‐Output
Authors: Afriat S. N. 
Published: October 2003

Abstract
This is the second of six chapters on the logic of price, and reviews the characteristics of Leontief's input–output method. The six sections of the chapter are: Quesnay's tableau économique; the Leontief matrix; production planning; Leontief and Zeno (Zeno's Paradox); productive systems; and a computer demonstration (of Leontief's input–output model).
Sraffa's Prices
Authors: Afriat S. N. 
Published: October 2003

AbstractThis is the fourth of six chapters on the logic of price and discusses ‘Sraffa's prices’. These represent another understanding about ‘price’ that joins with the centuries‐old discourse about ‘value’ having no obvious connection with market price. However, on the surface are issues to do with the consistency of the arithmetic involved, which can be investigated straightforwardly. The seven sections of the chapter are: production for subsistence; interdependence and stability; production with a surplus; joint production; variable activity; Sraffa and Leontief; and Sraffa and von Neumann.
Von Neumann's Economic Model
Authors: Afriat S. N. 
Published: October 2003

AbstractThis is the last of six chapters on the logic of price, and expands on the features of von Neumann's economic model, or activity system, which was first mentioned in Chapter IV.1. The fourteen sections of the chapter are: activity system; dual system; irreducibility; admissible factors; factor bounds; limit reciprocity; von Neumann factor; stretch algorithm; matrix games; LP solution; Perron–Frobenius and von Neumann; BASIC program; problems; and demonstrations.
Convex Programming
Authors: Afriat S. N. 
Published: October 2003

Abstract
This is the second of five chapters on optimal programming (the typical mathematics of economics) and related issues as related to choice making. It introduces convexity conditions, and shows where they have effect, together with Slater's condition, in assuring the existence of a support to the limit function, so providing Lagrange multipliers, or shadow prices, of resources that have part in the optimality conditions. Then for the case of differentiable functions the Kuhn–Tucker conditions are obtained. The six sections of the chapter are: convexity; programming convexity theorem; Slater's condition; optimality theorem; non‐negative maxima; the Kuhn–Tucker conditions.