Definition & Reality in the General Theory of Political Economy

About this eBook

Author

Cool, Thomas (Thomas Herman Anthonius Maria), 1954-

Language

English

LoC Class

HB: Social sciences: Economic theory, Demography

Subject

Economics

Category

Text

eBook-No.

15939

Project Gutenberg

https://www.gutenberg.org/ebooks/15939

Release Date

May 30, 2005

Copyright

Copyrighted. Read the copyright notice inside this book for details.

Contents

1. 1.Definition & Reality in the General Theory of Political Economy
2. 2.Thomas Colignatus
3. 3.Book I Introduction — 1. Order of presentation — 2. The general theory — 3. Methodology
4. 4.Book II Trias Politica and Economic Supreme Court — 4. The Trias Politica — 5. The economic record of the 20 th century — 6. An Economic Supreme Court — 7. Position of the Court in economic theory — 8. The record of economics itself — 9. Economics ‘as usual’ and its inadequacy — 10. Four empirical cases — 11. The moral imperative
5. 5.Book III Economics ‘as usual’ — 12. Introduction — Stylized history — Structure of the argument — The difference that it means — 13. Unemployment via taxes and minimum wage — The earnings distribution — Analysing the minimum wage — The Tax Void — Cause of the Tax Void — Development of the Tax Void — Marginal tax rate & VAT — Marginal tax rate & dynamics — Spillover and domino effects — Diagnosis and Therapy — Stagflation resolved — 14. The 1974 Duisenberg disaster
6. 6.Book IV Presentations for the general public — 15. Unemployment solved ! — 16. Enable Russia to help itself — Parallel — Risk not chance — Internal not external — Conclusion — 17. Will the West repeat Versailles ?
7. 7.Book V Methodology: Definition & Reality — 18. How to check ? — 19. Dealing economically with concepts — Maximising information power — Pythagoras and the circle — Falsification — Determinism and free will — From stylized fact to definition — Relating to Hicks 1983 — 20. Structural and reduced form — 21. Direct application to the Economic Supreme Court — 22. Methodological summary
8. 8.Book VI Structural models — 23. A textbook macro-economic model — The IS-LM model — The production function — Dynamics versus statics — Phillipscurve — Macro-economic interactions — 24. Heterogeneity and nonlinear taxation — Heterogeneity versus homogeneity — Nonlinear versus proportional taxation — Some literature — 25. Summary of current views — A simple view — A complex view — Efficiency wages intermezzo — A more sophisticated view — Confusions — 26. Heterogeneous labour — Dromedary supply — Dutch income distribution data — Definitions and formulas — Amendment to the textbook model on the Phillipscurve — 27. Subsistence — Definitions — Economic literature — Types of indexation — Formal development — 28. Phillipscurve — Concepts — A homogeneous Phillipscurve — On expectations — Heterogeneous Phillipscurves — More factors that cause a shift — Crowding out — Poverty — The submarket Phillipscurves — Shifting back — 29. Tax basics — Taxes and premiums — Common structure — Nonlinear tax function — Exemption — The marginal rate — Balanced growth — Off balanced growth — 30. Dynamic curvature of the tax wedge — Introduction — Formulas — Graphs — 31. Differential impact of the minimum wage on exposed and sheltered sectors — Introduction — Model — Graphs — Tables — Conclusion — 32. Dynamic optimality — The Phillipscurve revisited — Investment, growth and productivity
9. 9.Book VII Social Choice — 33. Introduction — 34. The solution to Arrow’s difficulty in social choice — Introduction — Basic concepts — Restatement of Arrow’s Theorem — A note on the name of APDM — A lemma — Rejection of the Arrow Moral Claim (AMC) — Rejection of the Arrow Reasonableness Claim (ARC) — Selection of the culprit axiom. — Examples of consistent constitutions — A reappraisal of the literature — Conclusion — Addendum: Sen’s restatement in “Development as freedom” — Addendum: Mas-colell, Whinston and Green, “Microeconomic Theory” — 35. Without time, no morality — Introduction — Control of natural forces in the social process — Three traditional methods — Borda Fixed point — Relation to Saari’s work — Pareto — A note on cheating — Conclusion — 36. Some notes on ethics
10. 10.Book VIII Supportive notions — 37. On the nature and significance of a free lunch — Some quotes — Consumers surplus — Economic growth — Conclusion — 38. Proper definitions for uncertainty and risk — Uncertainty — Risk — Example — Wrong use in economics 1921-2005
11. 11.Book IX Reduced form — 39. The possibility of full employment in the welfare state — Introduction — Stylized facts — Concepts — The theorem — Graphical presentation — 40. The possibility of co-ordination — Stylized facts — Concepts — The special theorem — The general theorem — On the interaction of the reduced form theorems — More on chance
12. 12.Book X Conclusions — 41. Relating to Mankiw’s “Principles” — 42. Relating to Krugman, Phelps, Ormerod and Heilbroner & Milberg — Introduction — Review of positions and qualities — Krugman: “We don’t know” — Phelps: “Structural slumps” — Ormerod: “Death of economics” — H&M: “Crisis of vision” — All authors — 43. Relating to Sen, Galbraith and Cox & Alm — Sen: “Development as freedom” — Galbraith: “Created Unequal” — Cox & Alm: “Myths of rich and poor” — 44. Relating to the OECD and some of its authors — The OECD in general — The EITC, direct payroll tax reduction and wage cost subsidies — 45. After 35 years of mass unemployment: An advice to boycott Holland — Summary — Introduction — First considerations — The realism of my advice — George W. Bush and Iraq and the American economy — More on Paul Krugman — The Dutch tragedy of the murder of Pim Fortuyn in 2002 — On the European Enlargement — Advice to vote NO on the current proposals for a European Constitution — A note on my own position — Appendix: After 20 years of mass unemployment: Why we might wish for a parliamentary inquiry — 46. Final conclusion — Epilogue
13. 13.Appendices — On the definition of economics — Biographical note on Montesquieu — Price inflation and wage growth in Holland 1950-2002 — Income distribution in Holland 1950 and 1988 — Program used in the analysis on exposed and sheltered sectors — A note on Hayek — A note on Barrow’s “Impossibility” — A constitutional amendment for an Economic Supreme Court — A parallel argument on the Central Bank — About the US Council of Economic Advisers — From the “Employment Act of 1946” — Martin Feldstein on the US Council of Economic Advisers — Commenting on this — Presentation for the National Press in Washington 1993 — Clinton administration EITC plans for 2000 — Summaries of additional papers — A note on the New Economy (2000) — On the 2005 edition of this book — Autobiographical note — What is new in this analysis ? — Abstract — Literature — Index — End notes
14. 14.Book Cover Text

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