Capitalism and Freedom

Veblen has been claimed and rejected both by sociologists and economists as being one of theirs. He enriched and attacked both disciplines, as he did so many others: philosophy, history, social psychology, politics, and linguistics. Because he took all knowledge as necessary and relevant to adequate understanding, Veblen was a holistic analyst of the social process. First published in 1904, this classic analysis of the U.S. economy has enduring value today. In it, Veblen posited a theory of business fluctuations and economic growth which included chronic depression and inflation. He predicted the socioeconomic changes that would occur as a result: militarism, imperialism, fascism, consumerism, and the development of the mass media as well as the corporate bureaucracy. Douglas Dowd's introduction places the volume within the traditions of both macroeconomics and microeconomics, tracing Veblen's place among social thinkers, and the place of this volume in the body of his work.

Theory of business enterprise

Green economy and related concepts: An overview

Resource Conservation: Economics and Policies

Green Economics positions economics within a very long-term, earth-wide, holistic context of reality as a part of nature. It also incorporates and celebrates 'difference', diversity, equity and inclusiveness within its concepts of society and community. Its philosophy is to manage economics for nature as usual, rather than to manage the environment for business as usual. The paper introduces the new Green Economics discipline and reviews its shape and philosophical underpinnings. By combining economics with knowledge from the natural sciences, we argue that Green Economics can incorporate a much wider, more practical, multidisciplinary range of knowledge than other schools of economics. The paper suggests how Green Economics can offer unique insights into four of the key areas ('eco', intellectual, political and moral) of today's significant and mounting problems and highlights how its novel insights provide new solutions. The development of this new branch of Economics is justified in this text by reviewing the main contradictions, deficiencies, assumptions, conventions, and inherent normative concepts to be found in dominant neo-classical economic thinking, which have accumulated over the past two centuries.

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Green Economics: setting the scene. Aims, context, and philosophical underpinning of the distinctive new solutions offered by Green Economics

This paper explains the main current developments effecting the structures and characteristics of international trade. These recent developments and changes in the way how trade occurs and what is traded cannot be explained with traditional trade theories. Despite a fundamental change in the global economic environment the suggestions for optimal economic policies based on the conventional theories are still forming the framework to discuss international trade policies or make recommendations for the appropriate trade regime or related international agreements. Based on a realistic empirically founded view new theoretical concepts and arguments need to be developed that lead to a different optimal trade regime than what is conventionally preferred. The paper summarises the arguments for such a change to occur and initiates the overdue and practically relevant debate to develop such a trade regime.

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Volker Heinemann

Papers

Green Economics: setting the scene. Aims, context, and philosophical underpinning of the distinctive new solutions offered by Green Economics

Current developments in international trade an opportunity for a new progressive approach in economic policies