Economics of development and the development of economics

Article Abstract:

A study was conducted to evaluate the influence of studies on development economics to other economic fields. The study focuses on economic situations of developing countries which have contributed immensely to economic studies. Results show that many ideas were originally introduced by development economics before they became part of the subject of micro and macroeconomics. This result carries implications for the general notion of dominance which has been a trademark of most economic research.

Research, Developing countries, Economic development

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Market socialism: a case for rejuvenation

Article Abstract:

Private ownership of industries will not ensure a competitive market which is necessary for a dynamic, efficient economy. Market socialism, which denotes a degree of state control of firms that are not necessarily government-owned, may solve the problem of managerial incentives for productivity. A proposed bank-centric system would involve banks constantly assessing the economic climate from within on the look-out for potential trouble.

Industrial policy

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Post Walrasian and post Marxian economics

Article Abstract:

Failure of socialist economies has nevertheless resulted in an increased interest in radical economics. Most schools of thought are based on the importance of the information received and is hence termed information economics. However, the relationship remains unresolved between capitalism, information and unemployment by information-based theories. Furthermore, the benefits of government economic intervention is still problematic.

Information theory, Information theory in economics

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