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About Doing the Right Thing as an Academic Economist  

Erwin Dekker and Arjo Klamer

Print publication date:
Apr 2016
Online publication date:
Sep 2014
This chapter argues that the art of phronesis is central to doing the right thing as an economist. Phronesis, or practical wisdom, is what we practice when we deliberate, weigh values, ... More

Africa, the Next Intellectual Frontier  

Célestin Monga and Justin Yifu Lin

Print publication date:
Jul 2015
Online publication date:
Jan 2015
This introductory chapter presents the objectives of this volume and discusses the challenges of producing relevant knowledge. It starts with an exploration of the reasons why Africa has ... More

Anabaptist Approaches to Economics  

Jim Halteman

Print publication date:
Feb 2014
Online publication date:
Mar 2014
Anabaptists have moved from a position of separatism to a call for faithful interaction with the world even if ambiguities lead to some compromises. Anabaptists can improve the secular ... More

Anglicanism  

Kim Hawtrey

Print publication date:
Feb 2014
Online publication date:
Mar 2014
Earlier Anglican approaches to economics were influenced by its historical position as an established church with considerable political influence. This position has changed in the past ... More

Antipoverty Policy: The Role of Individualist and Structural Perspectives  

William A. Darity Jr., Mary Lopez, Olugbenga Ajilore, and Leslie Wallace

Print publication date:
Nov 2012
Online publication date:
Dec 2012
This article examines how views on why people are poor can influence the design of antipoverty policy. It argues that, broadly speaking, theories of why people are poor fall into two categories. ... More

Are Economists in Over Their Heads?  

Kevin S. O’Neil and Marta Tienda

Print publication date:
Nov 2012
Online publication date:
Dec 2012
Sociologists see economic decisions as being “embedded” in social relationships, just as psychologists see economic decisions as being embedded in a life of the mind. While the idea of social ... More

Austrian Business Cycle Theory: A Modern Appraisal  

Andrew Young

Print publication date:
Nov 2015
Online publication date:
Dec 2015
Austrian business cycle theory (ABCT) is a body of hypotheses embodying particularly Austrian insights and assumptions. The canonical variant associated with Ludwig von Mises and Friedrich ... More

Austrian Economics and the Evolutionary Paradigm  

Naomi Beck and Ulrich Witt

Print publication date:
Nov 2015
Online publication date:
Dec 2015
This chapter discusses the challenges raised by the inclusion of evolutionary elements in the theories of Carl Menger, Joseph Schumpeter, and Friedrich Hayek. Each adopted an idiosyncratic ... More

Austrian Methodology: A Review and Synthesis  

Adam Martin

Print publication date:
Nov 2015
Online publication date:
Dec 2015
This chapter offers a synthetic account of the key methodological ideas espoused by prominent Austrian economists. It focuses on the contributions of Carl Menger, Ludwig von Mises, ... More

The Austrian Theory of Finance: Is It a Unique Contribution to the Field?  

Gregory Dempster

Print publication date:
Nov 2015
Online publication date:
Dec 2015
Austrian school economists have long been interested in monetary and financial operations that characterize modern capitalism. With a few exceptions, this interest was confined, at least ... More

Austrians versus Market Socialists  

Jesús Huerta de Soto

Print publication date:
Nov 2015
Online publication date:
Dec 2015
In this chapter, the position of market socialists is critically analyzed from the Austrian point of view. First, the definition of socialism is introduced, based on the concept of ... More

Balancing Risk and Benefit: Ethical Tradeoffs in Running Randomized Evaluations  

Rachel Glennerster and Shawn Powers

Print publication date:
Apr 2016
Online publication date:
Jul 2014
The increasing use of randomized evaluations in economics has brought an increase in discussion about ethical issues. We argue that while there are ethical issues specific to ... More

Behavioral Economics of Religion  

Jonathan H.W. Tan

Print publication date:
Feb 2014
Online publication date:
Mar 2014
This chapter concerns the behavioral economics of religion. Themes considered include how religion potentially shapes individual preferences, the possible implications of religious ... More

The Cambridge Post-Keynesian School of Income and Wealth Distribution  

Mauro Baranzini and Amalia Mirante

Print publication date:
Sep 2013
Online publication date:
Oct 2013
This chapter reviews and assesses the genesis and development of the Cambridge post-Keynesian school of income and wealth distribution, the foundations of which were laid in particular by ... More

Capital-Based Macroeconomics: Austrians, Keynes, and Keynesians  

John P. Cochran

Print publication date:
Nov 2015
Online publication date:
Dec 2015
The recent revival of boom-bust business cycles and the worldwide slow recovery from 2009–2012 has renewed interest in the analysis of a money-production economy developed by Keynes and ... More

The Capital-Using Economy  

Peter Lewin and Howard Baetjer Jr.

Print publication date:
Nov 2015
Online publication date:
Dec 2015
Capital theory is fundamental to everything else in Austrian economics. It lies at its core, implicit in discussions of monetary policy, the business cycle, the entrepreneur, and the ... More

Christianity and the Global Economic Order  

Paul S. Williams

Print publication date:
Feb 2014
Online publication date:
Mar 2014
Christianity and global capitalism are both religious systems. Historically, Christianity was important in the formation of capitalism and continues to have strong affinities with it, ... More

Christianity and the Prospects for Development in the Global South  

Peter S. Heslam

Print publication date:
Feb 2014
Online publication date:
Mar 2014
There are two key facts about development that are obvious yet often overlooked: the solution to material poverty is material wealth and the only sphere of society that generates such ... More

Codes of Ethics for Economists, Pluralism, and the Nature of Economic Knowledge  

Sheila C. Dow

Print publication date:
Apr 2016
Online publication date:
Mar 2014
This chapter adopts a pluralist approach to addressing issues raised by the idea of a code of ethics for economists. Though it might be possible for economists to agree on some abstract ... More

Complexity and Austrian Economics  

J. Barkley Rosser Jr.

Print publication date:
Nov 2015
Online publication date:
Dec 2015
There is a deep link between complexity economics and Austrian economics. Ideas of complexity were foundational in the work of Austrian economics from its generally recognized beginnings ... More

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