Abstract In this paper we contextualize Carl Menger’s work in relation to the transformations of German political economy from 1860s 1890s. We demonstrate that his Grundsätze (1871) was a culmination subjectivist tradition which had started early nineteenth century. synthesis is comparable Adam Smith’s earlier knowledge Wealth Nations (1776). contribution continuous with intellectual project le...

Thirty-five years ago, E. C. Harwood, AIER's founder, wrote the following about the relation of economic conclusions to the methods of inquiry used by many economists: "That economists frequently do not agree has become so commonplace that some economists no longer seem to be troubled by the suggestion that such a state of affairs is scandalous. That many economists do agree on certain analyses...

David Levy and Sandra Peart mean to revise the history of nineteenth-century British political economy. And more. In their latest, fascinating installment, The Vanity of the Philosopher, Peart and Levy argue that the transition from classical to post-classical economics is best understood as a sea change in the way political economists regarded human nature. What happened? Well, in the beginnin...

Both Keynesians and modern institutional economists are critical of the “classical economists”. In being so, they employ similar micro foundations of the business behavior (the “institutional arrangements”) of individuals. Yet in contrast to Keynesians, the representatives of modern institutional economics incorporate the institutional framework into their analysis: For them, the linkage betwee...

Experimental and theoretical analysis has shown that the conventional expected utility (EU) and subjective expected utility (SEU) models, which are linear in probabilities, have serious limitations in certain situations. We argue here that these limitations are often highly relevant to the work that environmental and natural resource economists do. We discuss some of the experimental evidence a...

The difference in Erythrocyte Osmotic Fragility (EOF) and haematologic parameters among two pure (Marshal and Ross) and a Hubbard-Anak cross breeds of 9-week-old broiler chickens were evaluated in this study. There was a statistically significant (P<0.05) decrease in EOF in Marshall breed at NaCl concentrations of 0.5% when compared to other breeds. However, Ross breed had the highest EOF at th...