Using documents previously unavailable in English, the authors present a cohesive and original picture of French economic thought that solidly documents the contributions of Dupuit and his colleagues. Ekelund and Hebert build their argument by focusing on the development of economic theory in the peculiar milieu of postrevolutionary France in an attempt to identify the essence of the French contribution and the extent to which the French legacy benefited other economists of international acclaim. They conclude that the kinds of issues in economic theory and policy that Dupuit and his colleagues found arresting and worthy of analysis in the nineteenth century are still pertinent today and will continue to interest economists into the twenty-first century. This seminal work will be of great importance to historians of economics and all economists interested in the foundations of modern microeconomics.
The Economics of American Art analyzes the most pervasive economic issues facing the art world, applied to the whole spectrum of American art. Both practical and accessible, this book will be essential for collectors, auction houses, American art experts of all kinds, museums, gallery owners and, not least, by economists with continuing scholarly interests in these matters.
What role did economics play in leading the United States into the Civil War in the 1860s, and how did the war affect the economies of the North and the South? Tariffs, Blockades, and Inflation uses contemporary economic analyses such as supply and demand, modern market theory, and the economics of politics to interpret events of the Civil War. Simplifying the sometimes complex intricacies of the subject matter, Thornton and Ekelund have penned a nontechnical primer that is jargon-free and accessible. Tariffs, Blockades, and Inflation also takes a comprehensive approach to its topic. It offers a cohesive and a persuasive explanation of the how, what, and why behind the many factors at work on both sides of the contest. While most books only delve into a particular aspect of the war, this title effectively bridges the gap by offering an all-encompassing, yet relatively brief, introduction to the essential economics of the Civil War. This book starts out with a look at the reasons for the beginning of the Civil War, including explaining why the war began when it did. It then examines the economic realities in both the North and South. Also covered are the different financial strategies implemented by both the Union and the Confederacy to fund the war and the reasons behind what ultimately led to Southern defeat. Finally, the economic effect of Reconstruction is discussed, including the impact it had on the former slave population. Thornton and Ekelund have contributed an overdue examination of the Civil War that will impart to students a modern way to better comprehend the conflict. Tariffs, Blockades, and Inflation offers fresh, penetrating insights into this pivotal event in American history.
They explore the myriad sources of the Church's wealth, including tithes and land rents, donations and bequests, judicial services and monastic agricultural production. And they present an in-depth look at the ways in which Church principles on marriage, usury, and crusade were revised as necessary to meet - and in many ways to create - the needs of a vast body of consumers. Along the way, the book raises and answers many intriguing questions.
Using basic concepts of economic theory, the authors explain the origin and subsequent spread of Roman Christianity, showing first how the standard concepts of risk, cost and benefit can account for the demand for religion.
What role did economics play in leading the United States into the Civil War in the 1860s, and how did the war affect the economies of the North and the South? Tariffs, Blockades, and Inflation uses contemporary economic analyses such as supply and demand, modern market theory, and the economics of politics to interpret events of the Civil War. Simplifying the sometimes complex intricacies of the subject matter, Thornton and Ekelund have penned a nontechnical primer that is jargon-free and accessible. Tariffs, Blockades, and Inflation also takes a comprehensive approach to its topic. It offers a cohesive and a persuasive explanation of the how, what, and why behind the many factors at work on both sides of the contest. While most books only delve into a particular aspect of the war, this title effectively bridges the gap by offering an all-encompassing, yet relatively brief, introduction to the essential economics of the Civil War. This book starts out with a look at the reasons for the beginning of the Civil War, including explaining why the war began when it did. It then examines the economic realities in both the North and South. Also covered are the different financial strategies implemented by both the Union and the Confederacy to fund the war and the reasons behind what ultimately led to Southern defeat. Finally, the economic effect of Reconstruction is discussed, including the impact it had on the former slave population. Thornton and Ekelund have contributed an overdue examination of the Civil War that will impart to students a modern way to better comprehend the conflict. Tariffs, Blockades, and Inflation offers fresh, penetrating insights into this pivotal event in American history.
A collection of readings to accompany Ekelund's A HISTORY OF ECONOMIC THEORY AND METHOD and other selected texts. This reader contains a grid on page vii that cross references other economic history texts.
They explore the myriad sources of the Church's wealth, including tithes and land rents, donations and bequests, judicial services and monastic agricultural production. And they present an in-depth look at the ways in which Church principles on marriage, usury, and crusade were revised as necessary to meet - and in many ways to create - the needs of a vast body of consumers. Along the way, the book raises and answers many intriguing questions.
Known for its clarity, comprehensiveness, and balance, the latest edition of A History of Economic Theory and Method continues that tradition of excellence. Ekelund and Hébert’s survey provides historical and international contexts for how economic models have served social needs throughout the centuries—beginning with the ancient Greeks through the present time. The authors not only trace ideas that have persisted but skillfully demonstrate that past, discredited ideas also have a way of spawning critical thinking and encouraging new directions in economic analysis. Coverage that distinguishes the Sixth Edition from its predecessors includes a detailed analysis of economic solutions by John Stuart Mill and Edwin Chadwick to problems raised by the Industrial Revolution; the role of psychology and “experiments” in understanding demand and consumer behavior; discussions of modern economic theory as it interrelates with other social sciences; and a close look at the historical development of the critical role of entrepreneurship, both in its productive and unproductive variants. The authors’ creative approach gives readers a feel for the thought processes of the great minds in economics and underscores key ideas impacting contemporary thought and practice. Well-crafted discussions are further enriched by absorbing examples and figures. Thorough suggested reading lists give options for more in-depth explorations by interested readers.
Economists owe a great debt to Ekelund and Price for making us aware of Edwin Chadwick's seminal contributions. Chadwick lived in the middle of the 19th century, but he anticipated many of the theoretical and practical advances that culminated in the law and economics revolution of the late 20th century. These include Coase's analysis of social cost and Demsetz's proposal for franchise bidding in natural monopolies. Read the summary of Chadwick's ideas about railroads and consider that Britain adopted many of them but only more than a century later (while the US continues to wallow in ignorance). The book is full of similar examples where Chadwick's prescience is extraordinary. Economists, legal scholars and practitioners, especially those working at the intersection of law and economics, will want to read this book.' – Sam Peltzman, University of Chicago, US Sir Edwin Chadwick (1800–1890) is hardly a household name among economists, although he is a well-known hero to sanitation engineers and utilitarian social reformers. His brilliant and cunning ideas relating to contemporary economic policy are illuminated for the first time in this pioneering study. The authors detail Chadwick's sophisticated conceptions of moral hazard, common pool problems, asymmetric information, and theory of competition, all of which differ starkly from those promulgated by Adam Smith and other classical economists. Also examined are Chadwick's views on government versus market role in dealing with problems created by natural monopoly, and whether some or all market problems justify government regulation or alterations of property rights. The authors investigate Chadwick's utilitarian approach to labor, business cycles, and economic growth, contrasting his modern view with those of his classical economic contemporaries. Chadwick's enormous output and cutting-edge methods undoubtedly establish him as an original and trenchant thinker in economic matters as well as a prophetic voice on contemporary issues in economics. This unique look at his less familiar research will interest academic regulatory economists, sociologists, students and scholars of law and economics, and all those interested in the fundamentals of social reform.
Using documents previously unavailable in English, the authors present a cohesive and original picture of French economic thought that solidly documents the contributions of Dupuit and his colleagues. Ekelund and Hebert build their argument by focusing on the development of economic theory in the peculiar milieu of postrevolutionary France in an attempt to identify the essence of the French contribution and the extent to which the French legacy benefited other economists of international acclaim. They conclude that the kinds of issues in economic theory and policy that Dupuit and his colleagues found arresting and worthy of analysis in the nineteenth century are still pertinent today and will continue to interest economists into the twenty-first century. This seminal work will be of great importance to historians of economics and all economists interested in the foundations of modern microeconomics.
Using basic concepts of economic theory, the authors explain the origin and subsequent spread of Roman Christianity, showing first how the standard concepts of risk, cost and benefit can account for the demand for religion.
The rapidly changing and evolving art market might appear to be chaotic to the casual observer, with new highs, potential lows, and tastes and fashions changing season to season. Economists, however, view the actions of buyers and sellers as constituting an identifiable market. They have, for some decades, studied such issues as artistic productivity and "death effects" on prices, investment returns, and on the basis of the behavior and estimated prices in auction markets. The Economics of American Art analyzes the most pervasive economic issues facing the art world, applied to the whole spectrum of American art. The book begins by looking at how a market for American art developed, how the politics of the post-war era shaped, at least in large part, the direction of American art, and how this legacy continues into contemporary art today. The book then tackles several salient, integral questions animating the American art world: Are age and "type" of artist (i.e. traditional or "innovative") related and, if so, how might they be related to productivity? Is investment in American art a remunerative endeavor compared to other investment possibilities? Do economic insights provide understanding of fakes, fraud and theft of art, particularly American art, and is it possible to prevent art crime? Is there is a boom (or a bust) in the market for contemporary American art as might be found in other markets? The ongoing evolution of American art is attended by a massive number of influences, and the economic concepts employed in this volume will complement other critical and important cultural studies of art. Both practical and accessible, The Economics of American Art will be essential for collectors, auction houses, American art experts of all kinds, museums, gallery owners and, not least, by economists with continuing scholarly interests in these matters.
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