John Elliot Cairnes and the 'rehabilitation' of the classical wage fund doctrine
Article Abstract:
John Elliot Cairnes sought to revive classical approaches to economics during the mid-1870s, and defended the wage fund doctrine. The wage fund doctrine fell out of fashion in the 1860s and start of the 1870s due to competing ideas on wages and labor unions. Cairnes sought to solve problems relating to Irish economic stagnation, and the dilemmas that arose in Britain with the rise of labor unions. Cairnes' reworking of the doctrine is in line with classical economics, despite the Jevons-Marshall-Vint view that it bears little resemblance to the classical doctrine.
Publication Name: Manchester School
Subject: Economics
ISSN: 1463-6786
Year: 1998
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Laws on long-term prices
Article Abstract:
Long-term prices vary with changes in distribution such as an increase in the profit rate. The link between long-term prices and distribution is complex, but there are certain laws that affect price movements in terms of wages. This movement can be expressed in terms of problems relating to linear programming. It is possible to obtain sufficient or necessary conditions linked to the convexity of curves showing wage and profit relationships. Relative prices vary in an arbitrary way, which is a basic negative result in terms of capital theory.
Publication Name: Manchester School
Subject: Economics
ISSN: 1463-6786
Year: 1998
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JAMES ANDERSON, DEVELOPMENT ECONOMIST: A CAUTIONARY TALE(*)
Article Abstract:
The 19th century Scottish economist James Anderson focused his analyses on the connections between individual values, institutions and economic variables. He contributed to moral externalities within the context of economic development while maintaining scientific constructs. Anderson's works are less philosophical than his contemporaries, presenting a methodology rather than an ideology.
Publication Name: Manchester School
Subject: Economics
ISSN: 1463-6786
Year: 1998
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