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For 25 years, theory about the causes of, and possible solutions to, the problem of unemployment has been dominated by Phelps' and Friedman's natural rate of unemployment hypothesis. This postulates that the equilibrium rate of unemployment consistent with steady inflation is determined by structural variables: sustainable reductions in unemployment can be achieved only by measures to change underlying microeconomic structures, such as benefit and pay bargaining systems. Belief in the hypothesis has faltered since the 1980s, the hypothesis being unable to explain the dramatic upward shifts in European unemployment rates. These essays reflect upon the fundamental structures underlying the hypothesis, assess the related evidence, and look forwards, suggesting possible modifications. In contrast to the single rate postulated by the natural rate hypothesis, several of the contributors propose that there are ranges of unemployment rates consistent with steady inflation.
Volume 1 covers: * Mathematical models * Differential equations * Stochastic aspects of hysteresis * Binary detection using hysteresis * Models of unemployment in economics Volume 2 covers: * Physical models of magnetic hysteresis * All aspects of magnetisation dynamics Volume 3 covers: * Hysteresis phenomena in materials* Over 2100 pages, rich with supporting illustrations, figures and equations * Contains contributions from an international list of authors, from a wide-range of disciplines * Covers all aspects of hysteresis - from differential equations, and binary detection, to models of unemployment and magnetisation dynamics
This Encyclopedia is an invaluable reference book for post-Keynesian and heterodox economics. It consists of 300 entries, written by 180 different authors. The volume includes entries on key concepts of interest to post-Keynesians as well as descriptions of some of the seminal books in the post-Keynesian tradition. It will interest both students and scholars of heterodox economics, as well as policy makers around the world looking for a better alternative to mainstream economic policies at national and international levels in the aftermath of the global financial crisis that burst in 2008 and the COVID-19 pandemic crisis that began in 2020.
Drawing examples from mathematics, physics, chemistry, biology, engineering, economics, medicine, politics, and sports, this book illustrates how nonlinear dynamics plays a vital role in our world. Examples cover a wide range from the spread and possible control of communicable diseases, to the lack of predictability in long-range weather forecasting, to competition between political groups and nations. After an introductory chapter that explores what it means to be nonlinear, the book covers the mathematical concepts such as limit cycles, fractals, chaos, bifurcations, and solitons, that will be applied throughout the book. Numerous computer simulations and exercises allow students to explore topics in greater depth using the Maple computer algebra system. The mathematical level of the text assumes prior exposure to ordinary differential equations and familiarity with the wave and diffusion equations. No prior knowledge of Maple is assumed. The book may be used at the undergraduate or graduate level to prepare science and engineering students for problems in the "real world", or for self-study by practicing scientists and engineers.
p.p1 {margin: 0.0px 0.0px 0.0px 0.0px; font: 10.0px Arial} The last few decades have witnessed an outpouring of literature on macroeconomic models in the broad ‘heterodox’ tradition of Marx, Keynes, Robinson, Kaldor and Kalecki. These models yield an alternative analytical framework in which the big questions of our day – such as how inequality is related to growth or stagnation, and whether long-run growth is stable or unstable – can be fruitfully addressed. Heterodox Macroeconomics provides an accessible, pedagogically oriented treatment of the leading models and approaches in heterodox macroeconomics with clear, step-by-step presentations of core models and their solutions, properties and implications.
Volume 2 addresses stereoscopic vision. It starts with the physiology of stereoscopic mechanisms. It then deals with binocular rivalry, binocular summation, and interocular transfer. A review of how images are brought into binocular register is followed by a review of stimulus tokens used to detect disparities. Cyclopean effects, such as cyclopean illusions, cyclopean motion, texture segregation, and binocular direction are reviewed. Factors that influence stereoacuity are discussed. Two chapters describe how stimuli in distinct depth planes produce contrast effects, and affect motion perception and whiteness perception. The Pulfrich stereomotion effect and perception of motion in depth are reviewed. The volume ends with a review of applications of stereoscopy.
Content Description #Includes bibliographical references and index.
How scientific is economics? This question has often been framed by analogies and correspondences made between economics and other, seemingly more well-established scientific disciplines, starting with classical mechanics. At the same time economics is likely to be seen in opposition to or in contrast with history, where the reliance upon generalizing rules, thought experiments, and model construction in economics is set against the amassing of particular facts intended to create narratives in history. In this new volume, Turk explores the relationship between economics and history, including the often fraught one between economics and economic history, making the case that economics does in fact require the proper grounding in history that has so often been ignored. This work challenges the attempt to link economics with other, more clearly ‘scientific’ disciplines as flawed and fundamentally wrongheaded. A key element of this book is its examination of the gaps and associations that exist in, or are seen through, linkages with thermodynamics, classical mechanics , biology, literature, mathematics, philosophy, and sociology. This exploration is frequently undertaken through study of the work of one or more major figures in the history of economic thought, ranging from Quesnay and Smith, through Walras and Max Weber, to Robinson, Krugman, David, and Arthur. Through the possibility of an alternative to the gaps noted in each such comparison, the underlying, necessary connection between economics and history can be brought out. The book concludes by exploring the basis for the positive construction of a historical economics. This book is suited for those who study history of economic thought and philosophy of economics.
The papers in this volume cover a wide range topics related to theme of the conference, titled as “Current Debates in Social Sciences”, and reflect the different perspectives of economics. The studies are mainly about economics and econometrics and can be classified under the sections of Political Economy, Globalisation, International Economics and Foreign Trade and lastly Economic Growth and Development Economics. Both empirical and theoretical papers are presented in this volume in order to discuss and analyze current debates on economics. We believe that these papers would contribute to the researchers, experts and academicians in a way to improve their interests and field of study.
Geoff Harcourt has had a major impact on the field of Post-Keynesian economics, not only in his research but also in his teaching. Many of Harcourts students have gone on to make valuable contributions in this field. This volume brings together contributions from thirty such former students, now established in academic institutions around the world