MONEY AS A PREREQUISITE OF DEVELOPMENT
To beginwith the'existence of money as.anessential prerequisiteof development. Perception of the inconvenience of barter begins very early indeed. It is to be discerned in the discussions of money-making in Aristotle's…
How Jennifer Aniston ‘Struggles With Depression’ Inspired New Album
Music expresses feeling and thought, without language. It was below and before speech, and it is above and beyond all words.
EXTERNAL ECONOMIES
Up to this point I have explained the argument for this kind of intervention in terms of the advantages accruing from the development of particular processes or industries. It should…
PUBLIC ENTERPRISE IN A SYSTEM OF ECONOMIC FREEDOM
SO much for the salient features of the so-called system of economic freedom conceived as a method of promoting orderly production and development. Thus presented, however, the system was not…
STAGNATION THEORY
It was therefore not until the inter-war period with its hyperinflation and the great depression, that attention was directed in a large way to aggregate problems of this sort. From…
THE NEO-CLASSICAL TRADITION
It cannot be said that Mill's article had any conspicuous impact. I do not know any reference to it in the relevant contemporary literature. Mill himself, in writing his Principles,…
THE LAW OF MARKETS
We must now turn to another development which strongly influenced the main classical approach to the problem of saving. Adam Smith's propositions that 'what is annually saved is ... as…
ACCUMULATION AND EFFECTIVE DEMAND
IN this lecture I propose to deal with capital accumulation and its role in the history of the theory of economic development. At first sight this might seem to be…
TRADE CYCLE THEORY AND GROWTH
It is now time to look in directions other than the matrix of classical production theory and developments springing therefrom. For the modern treatment of economic development embraces some modes…
ECONOMIC DEVELOPMENT IN THE LITERATURE OF MERCANTILISM
I begin with the literature of mercantilism. This term derives from Adam Smith who depicted what he called the mercantile theory of wealth as preoccupied with policies designed to produce…
