'The theory of economy deals mainly with private goods [...] Nevertheless, there are many goods which do not fall into this category' (Wilkin, 2005, p. 159). This is the reason that makes a few Polish authors interest in the theory of public goods; but, before being able to enlighten the theory, one should begin with a strong basis which is the definition; hence the idea of the article. Three main parts are shown here, starting from Paul A. Samuelson and his pure public good understanding followed with a word of its critics. As one of counterarguments to Samuelson's definition, Richard A. Musgrave's public good impurity examples are recalled. Then we continue with an abstract understanding of public good by James M. Buchanan. His idea is to call every item of public good, my public good. Hence if two people stand under the same street lamp at the same time, each of them consumes different unit of public good. Even if the way of thinking may seem to be odd, it eliminates a few significant obstacles with which Samuelson's theory could not manage. What is more, it enables its author to create the whole system of public goods' distribution, but it is a subject for another article.
The article aims to discuss the recent turmoil in economic theory and the way it responds to criticisms. The author argues that this response takes two parallel forms. On the one hand, advances in behavioral economics lead to a deep reconstruction of assumptions underlying the concept of 'homo oeconomicus'. On the other hand, research carried out in the loosely defined area of 'complexity economics' questions the traditional way of understanding the equilibrium and dynamics of economic systems. Due to article's size limits other interesting developments in institutional economics, political economics, as well as those related to law and sociology economics have not been addressed. The analysis leads to the conclusion that the mainstream economics significantly extends its subject matter, but at the same time strongly defends its methodology. This process suggests that in the near future one can expect its further opening to those strands in behavioral economics that apply a similar methodology. Given the entangled and transdisciplinary character of 'complexity economics', the early stage of the paradigm shift is likely to be a fairly long-lasting process. However, both developments discussed in the paper will proceed in a mutually reinforcing manner as the research program of behavioral economics constitutes a part of 'complexity economics'.
The article describes the process of the growing plurality of modern economics. It is argued that one of the main stimuli of that change was the growing popularity of transaction cost economics which eased the entry into mainstream economics of what previously had been present only in heterodox economics. After providing a definition of theoretical plurality it is shown that the number of elements in both economic explanans and explanandum has substantially increased. What follows is an inquiry into the ways in which the idea of transaction costs entered mainstream economics. Subsequently, it is claimed that transaction cost economics as put forward by Oliver Williamson served as a theoretical bridge between mainstream economics and heterodoxy. Finally, some methodological insights on the possible interplay between plurality and pluralism in economics are offered.
The article presents an analysis of methodological efficiency of economic sciences in conditions of detailed information typical of the contemporary system of collecting and processing of statistical data. The selection of a research method is essential for creating an effective process of creating an economic theory. Since economic activities are extremely spontaneous and changeable in character, only repeatable and formalized research methods can guarantee that economic sciences are efficient. At the same time, the economic theory should not be dominated by economy's changeability and spontaneity, either. However, the pragmatically oriented economists sometimes approve that dominance. Therefore, an indispensable element of professional awareness of any economist, as early as at the stage of further clarification of the object of the analysis and formulating of the research problem, should be a data selection and methodology of primary data processing. What should be emphasised, the functional homogeneity of a model is a precondition for effective modelling of economic phenomena.
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In this article I want to show the ambiguity of the popular division of economics: 'positive economics' and 'normative economics'. In my opinion economists interpret the meaning of these terms in different ways. At the beginning I present the criteria of distinguishing 'positive economics' from 'normative economics', which are often used by different groups of contemporary economists. Then I create a typology of different meanings of these terms used by the economists. Finally, I quote different economists who use these terms in different meanings. This way I present the ambiguities in economists' language. I conclude by indicating the damage caused by the ambiguity of the discussed classification. It can be the cause of unsolved arguments that unnecessarily involve participants' time and effort.
The article takes up the issue of the low weight that is attributed to the history of economic thought in economic research. The authors aim at substantiating the thesis that the enquiry into the paths of development of economics in the past has great relevance for the contemporary thinking on economic theory and the results of investigative work of researchers. They attempt to prove that the orientation in the history of economic thought albeit not indispensable for the mastering of modern economics or its research toolbox, might greatly help economists' cognizance and skills in their endeavors to follow and understand contemporary phenomena, irrespective of their particular fields of interest. Comments and considerations concerning the attitudes of historians of economic thought toward the contemporary situation conclude the article.
The purpose of this manuscript is to systematize methodological approaches to examine the duality of time in economic research. The main objectives of this paper can be considered as the study of researchers views on the nature of time duality at all, its manifestation in the economic theory, comparison of different visions about the impact of the time duality problem on contemporary development of economic system. This feature of the time effect on the economic processes has several associated symptoms, in particular: time-duration and time-order; basics of economic laws and limiting factor in the space-time development; qualitative and quantitative property; time as a relative definitions and categories and time as a specific measurement values; short-term and long-term phenomena; profit maximization problem and cost-minimization problem; time as an astronomical (calendar) and functional time; time as an interval duration and the irreversibility of its passage.
This article identifies developmental trajectory of changes which were undergone by the China economy during its transformation. Particular attention is paid to the impact of inflows and outflows of foreign direct investment (FDI) since their importance during this process was essential. It presents the views of leading experts on the economic direction of the country and points out the influence of the expansion of China on the international positions of other countries. Based on the theory of Flying Geese Pattern, presents a philosophy of strategic government actions aimed at strengthening the international position of Chinese economy as well as its ability to successfully adapt to external and internal consequences, including of undervalued domestic currency (CNY), resulting from the long-term financial crisis. The result of a rapid growth will deepen the general dependence of world economy on China. In a basal manner it will determine strategic intentions and development space of all world centres which will have to adapt to the new situation.
In the article author analyses the problem of national innovation system development in Ukraine. He shows key success factors for innovation development under knowledge economy building conditions. One of these factors is the interaction between innovation process agents to transform new knowledge into innovation.
In this article analysed the major theories of postindustrial economic development. Shows key success factors for innovation development under knowledge economy building conditions. One of these factors is the increasing importance of the capacity to produce and exploit knowledge for economic development.
The current global economic crisis is peculiar in many aspects. One of the key ones is the cumulating of more crisis phenomena at the same particular time (virtualization of the financial sector, polarization of wealth and poverty in society, immense increase of the moral gamble, but also unsustainable level of living standard, debt crisis, increase in arms expenses, wars, climate changes´ effects etc.). Both the theory and practice talk about globalization, however, in reality, both theory and practices remain bound to the national level. The ethical dimension, inhibition of corruption, removal of inefficiency in the public sector as well as new forms of regulations all create the necessary base for solutions to these problems.
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