Modern economics modeling practice involves highly unrealistic assumptions. Since testing such models is not always an easy enterprise, researchers face the problem of determining whether a result is dependent (or not) on the unrealistic details of the model. A solution for this problem is conducting robustness analysis. In its classical form, robustness analysis is a non-empirical method of co...

Standard economics courses describe the economic system as though it existed in a vacuum. In fact, economic systems are only one part of the larger social/psychological systems that include human motivations, culture, politics, institutions, ethics and history. These, in turn, are embedded in the physical contexts of technology and the built environment. All of these ultimately depend on the na...

A key issue for strategic supply chain management research is whether purchasing can be a source of long-term competitive advantage. Recent resourcebased works in strategic management suggest that purchasing cannot be a source of long-term competitive advantage. In contrast, recent works in supply chain management suggest that purchasing can be such a source. This article explains why works in ...

This article explores the emergence of Cambridge Journal Economics, highlighting its strengths but also some tensions discernible at advent. From 1912, Economic Journal, disciplinary gold standard, was published under editorial control: first, by Keynes himself, then through successive long-serving panels heterodox economists. The first significant success locally enacted, externally inspired, ...

Basic to neoclassical economics is the sanctity of individual choice, the fungibility of economic goods and inputs, and faith in the market system to bring forth substitutes as reiative prices change. These notions are part of what Joseph Schumpeter called the "pre-analytic vision" of neociassicai economics (Daly t995) and they are central to the concept of weak sustainability, a topic of inten...

S ince John Maynard Keynes wrote the General Theory of Employment, Interest, and Money in 1936, Keynesian economics has been highly influential among academics and policymakers. Keynes has certainly had his detractors, though, with the most influential being Milton Friedman, Robert Lucas, and Edward C. Prescott. Monetarist thought, the desire for stronger theoretical foundations in macroeconomi...

It can be argued that the core of subfield new economic sociology (NES) is consisted two inter-related yet distinct foundational criticisms by sociologists to mainstream economics: i) its commitment rational choice leads an “under-socialized” concept agent; and ii) it correct understanding market affairs, if “embeddedness” included in analysis. In this paper, I will argue these dual are insuffi...

Reading "'Ideal Theory' as Ideology," I found the distinction Mills makes between ideal-asidealized-model and ideal-as-descriptive-model to be very close to the distinction often found in Marxist political economy and philosophy between mental generalizations/idealizations and real abstractions, respectively--though this is a debate I've always had difficulty with. So, as I understand it, if bo...