Heterogeneity and time


Autoria(s): Faber, Malte; Winkler, Ralph
Data(s)

2006

Resumo

Although heterogeneity and time are central aspects of economic activity, it was predominantly the Austrian School of economics that emphasized these two aspects. In this paper we argue that the explicit consideration of heterogeneity and time is of increasing importance due to the increasing environmental and resource problems faced by humankind today. It is shown that neo-Austrian capital theory, which revived Austrian ideas employing a formal approach in the 1970s, is not only well suited to address issues of structural change and of accompanying unemployment induced by technical progress but also can be employed for an encompassing ecological-economic analysis demanded by ecological economics. However, complexity, uncertainty, and real ignorance limit the applicability of formal economic analysis. Therefore, we conclude that economic analysis has to be supplemented by considerations of political philosophy. Copyright 2006 American Journal of Economics and Sociology, Inc..

Formato

application/pdf

Identificador

http://boris.unibe.ch/49828/1/Boris3.pdf

Faber, Malte; Winkler, Ralph (2006). Heterogeneity and time. American Journal of Economics and Sociology, 65(3), pp. 803-825. Wiley 10.1111/j.1536-7150.2006.00475.x <http://dx.doi.org/10.1111/j.1536-7150.2006.00475.x>

doi:10.7892/boris.49828

info:doi:10.1111/j.1536-7150.2006.00475.x

urn:issn:0002-9246

Idioma(s)

eng

Publicador

Wiley

Relação

http://boris.unibe.ch/49828/

Direitos

info:eu-repo/semantics/restrictedAccess

Fonte

Faber, Malte; Winkler, Ralph (2006). Heterogeneity and time. American Journal of Economics and Sociology, 65(3), pp. 803-825. Wiley 10.1111/j.1536-7150.2006.00475.x <http://dx.doi.org/10.1111/j.1536-7150.2006.00475.x>

Palavras-Chave #330 Economics
Tipo

info:eu-repo/semantics/article

info:eu-repo/semantics/publishedVersion

PeerReviewed