Neo-classical economic theory is based on the postulated, nonempiric notion of utility. Neoclassical economists assume that prices, dynamics, and market equilibria are supposed to be derived from utility. The results are supposed to represent mathematically the stabilizing action of Adam Smith’s invisible hand. In deterministic excess demand dynamics, however, a utility function generally does ...

Using the debates between Classical political economists and their critics as our lens, this paper examines the question of whether we're the same or different. Starting with Adam Smith, Classical economics presumed that humans are the same in their capacity for language and trade ; observed differences were then explained by incentives, luck and history, and it is the "vanity of the philosophe...

Given their background as moral philosophers, classical economists were interested in passions and emotions which govern human nature. This interest in emotions had persisted in economic theory until the marginal revolution. The aim of developing a formal body of theory based on mechanical laws necessitated the adoption of a more stylized concept of utility, i.e. ordinal utility. Formal modelli...

The relationship between trade liberalization and economic growth is a hotly contested issue. Some studies claim positive impact while others oppose it. This study uses updated data to generate new evidence for the debate. Using dynamic panel framework Sachs-Warner indicator of liberalization, this finds that does appear growth. generated points advocacy extending volume supporting view classic...

Purpose To investigate whether the Polish Marshal Offices use instruments for social media marketing activities in the field of health promotion. Methodology 14 Polish Marshal Offices participated. The Computer-Assisted Web Interview and Computer-Assisted Telephone Interview were used along with a proprietary questionnaire. Standard statistical methods were employed. Findings The number of ...

Today information management technology faces two major related challenges. One is to tame the information and options explosion that are upon us. Another is to support the information needs in the ubiquitous environments that are being created. These two challenges have received considerable attention from various segments of information management technology research community. Some of the su...