Archive of papers

Addressing the malaise in neoclassical economics: a call for partial models

Economics is currently experiencing a climate of uncertainty regarding the soundness of its theoretical framework and even its status as a science. Much of the criticism is within the discipline, and emphasizes the alleged failure of the neoclassical viewpoint. This article proposes the …

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Posted for review 21 Feb 2018
Published in Economic Thought 8.1

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9 comments

A Common Misunderstanding about Capitalism and Communism Through the Eyes of Innovation

This paper argues that the theories of communism and capitalism do not need to be considered opposites or alternatives, but rather systems that satisfy different stages of humanity´s technological development. The argument derives from Maslow´s hierarchy of needs and a …

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Posted for review 20 Feb 2018
Published

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6 comments

Quantum Economics

A decade after the financial crisis, there is a growing consensus that the neoclassical approach to economics has failed, and that new approaches are needed. This paper argues that economics has been trying to solve the wrong problem. Economics sees …

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Posted for review 20 Oct 2017
Published

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Spiethoff’s economic styles and the current debate about pluralism in economics

The article concentrates on the methodological aspects of the economic styles approach by Arthur Spiethoff. As it will be shown, this approach shows a lot of characteristics typically attributed to social economics, evolutionary economics, Tony Lawson’s social ontology and, therefore, …

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Posted for review 12 May 2017
Published

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The Decline of the “Original Institutional Economics” in the Post-World War II Period and the Perspectives of Today

As is known, original, or “old”, institutional economics (OIE) ─ we also indicate it as “institutionalism” ─ played a relevant role in its first stage, and it can safely be said that it came to be, although perhaps by a …

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Posted for review 3 Apr 2017
Published in Economic Thought ET7.1

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Ricardo’s numerical example versus Ricardian trade model: A comparison of two distinct notions of comparative advantage

The so-called Ricardian trade model of contemporary economic textbooks is not a rational reconstruction of Ricardo’s famous numerical example in chapter seven of the Principles. It differs from the latter in terms of definition of the four numbers, relevant cost …

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Posted for review 5 Jul 2016
Published

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5 comments