Recently, scholars working in the field of modern Austrian economics have wondered about what this literature might offer for an understanding of the nature of modern business organizations (for example, Foss 1994, 1997b; Sautet 1998; Mathews 1998). In this article, we examine the received literature on firms and strategies and find that Austrian economics has important contributions to make in...

convergence hypothesis is one of the results of neoclassical growth model, which has been examined recently. this hypothesis has two forms of absolute and conditional beta-convergence and implies that regions with lower per capita output have higher per capita growth rates. since there is no data for regional gdp in iran, there has been n study to test convergence hypothesis in iran. our main c...

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...

Based on the formation, essence, boundary and goal of different enterprise theories as review object, this paper reviews theory neoclassical economics. It is four mainstream schools contract stakeholder collective choice. Additionally, it includes a brief pertinent evaluation comparison these views.

Models in the classical theory of games and in neoclassical economics normally assume rationality in the sense that agents have compete and transitive preferences. The paper labels this fundamental rationality and distinguishs two other sorts of rationality pertinent to the study of strategic interaction: individual economic rationality (IER) and effective rationality. IER is, we observe, chara...

The article points out the limits of Austrian economics in so far as the passage from positive to normative economics is concerned. We propose a comparison with neoclassical economics and discuss the different theoretical solutions adopted by these two schools of thought in their legitimization of the normative discourse. The bridge from positive to normative economics is analyzed as resting up...