Heterogeneity and time

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..

Ethnography of a Land-Deal. Local Perceptions and Vertical Perspectives of a Large Scale Land Acquisition Project in Northern Sierra Leone

In the aftermath of the devastating civil war, the Sierra Leonean government created favourable conditions for foreign investors willing to lease large areas of land to bring development to the country. A team of anthropologists and geographers did extensive fieldwork on the Addax Bioenergy Project in order to a) document the project affected people’s (PAP) perceptions and interests on a horizontal level and b) identify the different actors that are necessary for the implementation of such a project on the vertical level. Findings indicate that the project triggers a number of processes: Cultural and linguistic differences between PAP and company, their diverse understanding of development and the stance of local elites led to misunderstandings concerning each other’s responsibilities and created a lot of frustration on both sides. Further, the loss of natural resources that comes along with the land lease affects mostly women and other vulnerable groups.