Money, Banking, and the Macroeconomy

Business & Money

Vickers, Douglas

Economics

Pearson College Div

Noted economist Douglas Vickers reexamines the relationship between economics and moral philosophy. That relationship, once very strong, is again the subject of increasing attention and discussion both within and beyond the academy. Vickers reestablishes the substantial bridges between ethical philosophy and economics. He addresses three main issues: first, the historical means by which economics has consciously surrendered its original association with ethical categories and criteria; second, the need to articulate the appropriate thoughtforms and vocabulary of ethical theory; and third, the illustration of areas in economics where ethical awareness is desirable and should be allowed to exert influence. This work is a major analysis which will be of considerable interest to economists, the business community, government regulators, and all concerned with economic decisionmaking in modern society.

Economics and Ethics: An Introduction to Theory, Institutions, and Policy

Sports & Outdoors

Praeger

<p>Noted economist Douglas Vickers reexamines the relationship between economics and moral philosophy. That relationship, once very strong, is again the subject of increasing attention and discussion both within and beyond the academy. Vickers reestablishes the substantial bridges between ethical philosophy and economics. He addresses three main issues: first, the historical means by which economics has consciously surrendered its original association with ethical categories and criteria; second, the need to articulate the appropriate thoughtforms and vocabulary of ethical theory; and third, the illustration of areas in economics where ethical awareness is desirable and should be allowed to exert influence. This work is a major analysis which will be of considerable interest to economists, the business community, government regulators, and all concerned with economic decisionmaking in modern society.</p>

Business Culture

The contributions in this volume report research on various aspects of the processing of information by human beings. The papers reflect orientations ranging from the broadly ecological to the highly abstract and formal. Their substantive concerns encompass questions of perception, action, and the mechanisms which mediate between them, and the papers are characterised generally by a close relationship between empirical findings and theoretical issues. This selection of papers on various aspects of human information processing reflects orientations ranging from the broadly ecological to the highly abstract and formal. The papers encompass questions of perception, action, and the mechanisms which mediate between them, and are characterised generally by a close relationship between empirical findings and theoretical issues. The papers fall into five main groups.

Human Information Processing: Measures, Mechanisms, and Models (Proceedings of the Xxiv Intl Congress of Psychology of the International Union of)

Health, Fitness & Dieting

International Congress of Psychology 1988 (Sydney, N. S. W.)

International Union of Psychological Science

Australian Psychological Society

Psychology & Counseling

North-Holland

Presenting a rigorous examination of the place and significance of time in economic theory, Douglas Vickers takes up the interrelated issues of uncertainty, ignorance, and criteria of choice. In the discussion of these questions he explains that the conventional thought-forms of probability are not generally applicable to theory-building in economics. To remedy this he provides a completely new paradigm of choice.   The extent to which time has influenced, or been excluded from, economic theory is discussed on four levels: the banishment of time in general equilibrium theory; the incorporation of logical time, in pseudotemporal dynamic analysis in some widely adopted mathematically structured systems; the construction of ceteris paribus dynamics based on conventially determined behavior; and the analysis of in-time economics, or the results of incorporating into economic theorizing historic time, ignorance, and uncertainty in a nonprobabilistic sense. A scheme of choice and decision making is presented that incorporates the concept of “potential surprise” in place of probability.   Economic theorists and scholars in related disciplines will appreciate the originality of the book’s critique of the neoclassical system; its tracing of some of the most relevant intellectual history that sets off the traditions of Keynes and the post-Keynesians from the neoclassical system; the clarification of the meaning of – and the dissent from – probability theorizing in economics; and the treatment of the relevant epistemological foundations of the subject.  

Economics and the Antagonism of Time: Time, Uncertainty, and Choice in Economic Theory

University of Michigan Press

This book critically reviews and evaluates a number of central theoretical concepts that have shaped economists' analysis of markets. In a rigorous discussion of the demand and supply sides of the market, Douglas Vickers questions the cogency of many of the established ideas and tools of economic analysis. The critique relies considerably on the significance of real historical time and the epistemic uniqueness of individuals in decision making. The author identifies deficiencies in the concepts of utility and its cognate- preference orderings on the demand side of the market, and in marginal productivity and the related theory of income distribution on the supply side. Setting the critique of received traditions in historical perspective, The Tyranny of the Market reviews the bequests to contemporary theory of classical and neoclassical economics. The analytical problem of the place and significance of money in economic argument is addressed and the nonneutrality and substantial endogeneity of money are clarified. The book's analysis of macromarket failure, or the failure of the market system to provide automatically for the full employment of economic resources, incorporates a monetary-flow model of the macroeconomy. Economic theorists and scholars in related disciplines will appreciate the originality of the book's critique of the neoclassical and competing systems of thought. Douglas Vickers is Professor of Economics, University of Massachusetts.

The Tyranny of the Market: A Critique of Theoretical Foundations

Money Capital in the Theory of the Firm: A Preliminary Analysis

The place of money capital in the theory of the firm has remained a relatively neglected question in traditions of economic analysis. In this highly integrative work, issues in production, pricing, capital investment and financial theory are brought to new levels of interdependence. Developing a three-part argument, Money Capital in the Theory of the Firm deals successively with the theoretical issues and analytic motivation, the neoclassical tradition and postclassical perspectives. In doing so, it presents a self-contained foundation in the basic structures of microeconomic analysis relating to optimize decision making in the firm and in the accounting concepts and statistical apparatus of probability theory relevant to the neoclassical aspects of the argument. Additionally, the book provides the essential mathematical development of such advanced topics as utility functions defined over stochastic arguments, the equilibrium theory of financial asset prices and yields, the cost of money capital, and investment decision criteria. This book makes an important contribution to the formation of new and analytically richer perspectives in the important area of economics it addresses. It will be of particular interest to those working in economic theory and microeconomics, and their advanced students.

Cambridge University Press

The preoccupation of financial theory with static, timeless, equilibrium analysis has given rise to an orthodoxy that avoids the problems of uncertainty in the world. This work establishes new perspectives from which contemporary financial theory can be evaluated. Echoing Keynes' observation that "Human decisions . . . cannot depend on strict mathematical expectation," Douglas Vickers explains why most decisions in economics and finance are not made under conditions to which the calculus of probability applies.The author proposes a "new realism" in financial theory that takes into account the uncertainty in personal and economic decisions. Both business firms and financial investors, he contends, acquire an important perspective on their alternatives by focusing on the transitional, disequilibrium processes in financial markets rather than on their sup posed equilibrium conditions. This involves for economic decisions an understanding of "time" as "historic" in a genuine operational sense rather than as merely a logical variable. The notion of probability should be replaced by that of possibility, the concept that the British economist G. L. S. Shackle has called "potential surprise."In Part I, Vickers' innovative approach leads to a careful study of the "false trading" that occurs in real and financial markets. Part II provides an exposition and an evaluation of the equilibrium theory of financial asset prices. The new analytical apparatus is applied in Part Ill to investment decision making in the firm and to the choice of financial asset portfolios, as well as to the questions of asset trading and changes in portfolio composition.A scholarly and constructive work, Financial Markets in the Capitalist Process will generate controversy among professionals and debate among students for many years to come.

Financial Markets in the Capitalist Process (Anniversary Collection)

University of Pennsylvania Press Anniversary Collection

The Divine Purchase

The contemporary church exhibits an elasticity and diversity of doctrine that at times sits oddly with biblical foundations. The presuppositions that God is and that God has spoken too often give place to the assumed priority of the explanatory competence of human reason. In that, the theology of the church is captive to the thought forms of an Enlightenment rationalism on one hand, or the looseness of postmodernist assumptions of individual autonomy on the other. In those respects, theological argument proceeds from man to God, and not-as in its biblically revealed contours-from God to man. The Divine Purchase calls the church back to a clear commitment to the gospel of redemption. The kernel of the gospel resides in the apostolic statement that Christ "purchased the church with his own blood" That divinely ordained accomplishment projects the only remedy for the human condition in the present decaying culture and its intellectual uncertainty and confusion.

Religion & Spirituality

Christian Books & Bibles

Wipf and Stock

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Books by Vickers, Douglas

See the best price to sell, buy, or rent books by Vickers, Douglas. BookScouter helps to compare book prices from 25+ online bookstores and 30+ buyback vendors with a single search.

Money, Banking, and the Macroeconomy

Economics and Ethics: An Introduction to Theory, Institutions, and Policy

Economics and Ethics: An Introduction to Theory, Institutions, and Policy

Human Information Processing: Measures, Mechanisms, and Models (Proceedings of the Xxiv Intl Congress of Psychology of the International Union of)

Economics and the Antagonism of Time: Time, Uncertainty, and Choice in Economic Theory

The Tyranny of the Market: A Critique of Theoretical Foundations

Money Capital in the Theory of the Firm: A Preliminary Analysis

Money Capital in the Theory of the Firm: A Preliminary Analysis

Financial Markets in the Capitalist Process (Anniversary Collection)

The Divine Purchase