Quardle Oodle Ardle: What Happens when an Economist Writes a Poem?
Listener: 28 December, 1996.
Keywords: Literature and Culture;
Monthly Archives: December 1996
The End Of the Golden Wether
The economic earthquake, thirty years ago this week, continues to shape New Zealand.
Listener: 14 December, 1996.
Keywords: Growth & Innovation; Macroeconomics & Money;
On 14 December 1966 the Wool Commission found itself buying in bales of wool offered for auction. This arrangement had been devised in the early 1950s to provide a floor price for wool, evening out the troughs in the fluctuations for the commodity whose price was set mainly on the auction floor. Each year a floor price was set. When offers were below this level the Commission would bid – on occasions even make small purchases – to push up the price to above the set floor level. But typically their involvement was minuscule.
Institutional Economics and the Theory Of Value: Essays in Honor Of M. Tool
Edited by Charles M.A. Clark (Kluwer Academic Publishers, Boston,1995)
Review published in Prometheus, Vol 14, No 2, December 1996, p 291-293.
Keywords: History of Ideas, Methodology & Philosophy;
According to the Palgrave Dictionary of Economics institutional economics has been the principle school of heterodox economic thought, apart from Marxism. Some of its practitioners are extremely well known – Thorstein Veblen, Wesley Mitchell, Gunnar Myrdal, J.K. Galbraith, and Ken Boulding (perhaps Joseph Schumpter) – but it is rare for the school to impinge on the central economics paradigm of neo-classical economics. The two seem like distant cousins, who are still not talking after a feud over the family inheritance.