On custom in economics: the case of humanism and trade regimes

Article Abstract:

Humanism is an example of an idea that can have economic significance. The Humanism of the Low Countries contributed to the development of trade in the 16th century, and the rise in prosperity of that region. Non-discrimination, reciprocity, hospitality norms, and voluntary exchange helped Dutch traders in their efforts in Japan and the east coast of Africa. The Dutch were able to establish non-violent trade, which was cheaper than the Spanish form of trade, which involved fighting. Political change and rent-seeking led to the demise of the Humanist trade project.

History, International trade, Benelux countries, Humanism

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The positive economics of methodology

Article Abstract:

The truth probability of a theory depends on the known and assumed abilities of the formulating scientist and the research methodology. An economic approach to methodology shows that "theorize first" theory has a higher truth probability because of the assumed positive abilities, especially if the theory is confirmed, of the scientist based on his willingness to theorize first. In comparison, the "look first" theory has a lesser degree of truth probability because it questions the abilities of the scientist.

Models, Methodology, Research methods

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The simple economics of Easter Island: a Ricardo-Malthus model of renewable resource use

Article Abstract:

A model of population and renewable resource dynamics is derived to analyze the rise and fall of Easter Island. It is shown that changes in human behavior, technology and environment can lead to feast and famine cycles which may, in turn, cause conflicts over the decreasing resources. It is also argued that economic declines due to diminishing natural resources have been experienced by civilizations such as the Maya and Anasazi.

Population, Easter Island, Renewable natural resources, Renewable resources

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