The centrality of corporate enterprises for allocating resources in the economy has sparked the recent debate among economists about the manner in which corporations should be governed to enhance economic performance. The process through which resources are developed and utilised is central to the dynamic through which successful enterprises and economies improve their performance over time as ...

Most insights of environmental economics are in line with the standard neoclassical economic model of rational behaviour, formulated in terms of maximization of utility in general, or profits in particular. The standard theory of environmental policy is a case in point. However, the maximization hypothesis and its methodological foundation have been criticized on many grounds, related to a lack...

Prebisch believed that understanding the evolution of capitalist economies over time and in different contexts required a general cycle approach, which he labeled ‘dynamic economics’, encompassing all the different areas of economic activity. His dynamic economics developed between 1945 and 1949 stemmed from a critique of both Neoclassical and Keynesian theories which Prebisch viewed as static ...

Prebisch believed that understanding the evolution of capitalist economies over time and in different contexts required a general cycle approach, which he labeled ‘dynamic economics’, encompassing all the different areas of economic activity. His dynamic economics stemmed from a critique of both neoclassical and Keynesian theories, which Prebisch viewed as static representations of capitalism. ...

This paper examines the characteristics of comparative economics during the period 1977–1992, using computational tools to collect data on the character of publications. These data depict the distinctive characteristics of comparative economics, for example, whether it was neoclassical or new-institutional, and the balance between theory and empirics. Complete systems were a centerpiece of comp...

This paper adds a moral angle to a pluralist approach to development economics. Normative assumptions can be found in all the five main schools of thought that have analysed India’s rural labour markets (neoclassical, new institutionalist, Marxist political economy, formalised political economy, and feminist). The theorisations that are used by each have normative overtones. I define overtones ...

us: This inquiry seeks to establish the importance of the critiques leveled by Thorstein Veblen and Tony Lawson against the orthodox economics. In order to advance this point this inquiry advances the notion that Neoclassical school and its sub school known as marginal utility theory are constructed upon shaky philosophical and methodological foundations that include the hedonistic conception o...

The chapter provides a concise discussion of the role of mathematics in economic theory. After a brief overview of the main applications of the mathematical methods to economic problems, the chapter focuses on general equilibrium theory in its atemporal and intertemporal versions and discusses the concepts of equilibrium and dynamics in natural sciences and economics. In this context, business ...

In this study, the relationship between environmental innovation and sustainability is analyzed in 168 handicraft businesses in the Mexican states of Oaxaca, Puebla, and Tlaxcala. The results show a direct, positive relationship between environmental innovation and sustainability in three dimensions: economic, social, and environmental. In terms of determination, the variables that best explain...

Except for specialized resource economics models, neoclassical economics pays little attention to the role of energy in growth. This paper examines the basic flaws behind the mainstream analytical arguments for this neglect, and provides an empirical reassessment of this role. We use an error correction model in order to estimate the long-run output elasticity of primary energy use in 50 countr...