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Thomas Woodrow Wilson (1856-1924) was the first and is still the only president of the United States to hold an earned doctoral degree. His Ph.D. was awarded by the Johns [...]

The present financial crisis has set in bold relief the Jekyll and Hyde nature of contemporary central banks. It has made apparent both our utter dependence on such banks as [...]

This paper identifies problems associated with the current empirical measurement of ethnic diversity in economic development literature. An expanded index of ethnic diversity is proposed to include variables such as religion and race, and the results are compared to the prevailing index utilized in empirical literature. The mean of the proposed index is significantly larger and the standard deviation is significantly smaller than that of the prevailing index. This would suggest that disparities in ethnic diversity among countries are not as wide as previously assumed. Further, these results confirm that a comprehensive and more accurate measure of ethnic diversity requires more than a linguistic measurement, which is the primary factor utilized in the prevailing index.

The different schools of economic thought in Russian history are explored. The author, maintaining Russian economic science has never played a central role is the world, yet has not been based upon soaking up foreign ideas, discusses the influences of Karl Marx and E. Varga on the evolution of Russian economics.

The possibility of worker backlash as the result of a shift in the economic power equilibrium between labor and capital was theorized. This economic shift was brought about by the rising global financial markets, which poses a great challenge for world economies. This stresses the need for a counter-trend that allows considerable economic focus through critical restructuring and economic policy implementation.

Paul Samuelson's 'Economics' is among the pioneering works that delve on introductory economics courses. Succeeding generations of Samuelson's contributions reflect the 50-year trend of teaching such courses. His focus was on macroeconomics and policy advice where his knowledge on rhetorical strategy was exemplified. Samuelson's progressive views have paved the way for a balanced brand of economics that stresses the importance of economic stabilization.

John Maynard Keynes (1883-1946) is the latest in a line of great British economists who had a profound influence on the discipline of economics. By common consent, the line starts [...]

Heinrich von Stackelberg played an important role in the transformation of Spanish economic policy by supporting the group of economists that aimed for an economic policy to promote growth to alleviate disparities in material well-being. The change in Spanish economic policy from utilitarian historicism was due to a unequivocal acceptance of some of Stackelberg's teachings. Spaniards now have a clearer understanding of 'Euken' and can now oppose an historicist economic nationalism.

Heinrich von Stackelberg was a economist who made numerous contributions to the field of theoretical economics. His contributions covered topics such as cost theory, exchange rate theory, saving theory, price theory and other fields of economics. Stackelberg also published several books that eventually became the basis for other works.

My research program as an economist has emphasized two intersecting themes: the causes and consequences of technological innovations; and how business firms' behavior varies with the structural environment (e.g., competitive, [...]

Sir D.H. Robertson staunchly opposed the Keynesian view of economics until his death in 1963. In fact, he was fairly isolated in Cambridge for his non-Keynesian approach in teaching and research. Proof of this is found in his correspondence with Alvin Hansen and in his unpublished speeches in Cambridge and Oxford. He also encouraged visitors who were highly devoted to Robertsonian analysis which sprung from the Cambridge approach. As a result, later developments in economics have a Robertsonian slant.

Several factors account for the enthusiastic reception of Wilhelm Roscher's ideas about economic theory, methodology and the history of economic thought in the US. One major reason is the lack of an American economic tradition which led economists to borrow heavily from German economic thought. Moreover, William Cunningham's essay explaining the lack of acceptance of Roscher's philosophies in the UK, Roscher was not wholly rejected in the UK.

German economist Wilhelm Roscher was influenced by Ricardo's cost theory even though it is generally assumed that nineteenth-century German economics did not absorb Ricardo's ideas on production. In turn, Wilhelm Roscher's macroeconomic production function theory influenced Karl Marx. This may be determined from the 'vitriolic remarks' of Marx about Roscher in 'Capital' where Roscher is mentioned at least 10 times and the 'close affinity' of his work with 'Capital.'

As Britain prepared to divest itself of its colonies in the 1940s, political expedience required that colonial policy appear concerned for the welfare of colonial people above all. To this end, the Colonial Office sought out liberal and leftist advisors to formulate its policy. Many of these were academic economists, convened in bodies such as the Colonial Economic Advisory Committee. Fabians in particular were well represented. Ultimately the relationship between the Colonial Office and these advisory bodies deteriorated due to differences in economic philosophy.

It seems appropriate on this occasion to honor both Gary Becker and James Coleman by conveying a little of the flavor of the interdisciplinary workshop they jointly ran at the [...]

The discussion of the influence of the works of Joseph Schumpeter and John Maynard Keynes, on the research work of Hans Wolfgang Singer, is presented. The analysis of the research work undertaken by Hans Singer, during the different stages of his career, is presented.

The paper examines the impact of politics and institutions on growth in the light of Lewis's writings. The basic approach adopted is that the accumulation of 'capitalist surplus' can be threatened for political reasons. If the oppressed are likely to rebel against poor living standards associated with economic development with unlimited supplies of labour, it is sensible for governments to invest in political and institutional devices which will prevent the threat of such disturbances. We call such investments a 'social efficiency wage premium' and find that growth, across a sample of 58 countries for the period between 1980 and 2001, is significantly associated with the measures a country takes to reduce its political vulnerability. The paper concludes that investments of a country's surplus in measures to reduce political vulnerability are well warranted.

We reassess the contribution of Sir Arthur Lewis's 1954 paper entitled 'Economic Development with Unlimited Supplies of Labour' to our understanding of economic development, and to the establishment of development economics as an academic discipline. We argue that Lewis's key insight into the structural dualism characterizing developing countries mapped out a new and distinctive field for development economics and policy. The paper has had a profound impact over the last 50 years and continues to yield valuable lessons for understanding the nature of economic transformation.

This paper examines the background to the birth and reception of W. Arthur Lewis's 1954Manchester School paper on 'Economic Development with Unlimited Supplies of Labour'. It considers the development of Lewis's thinking leading up to the paper, weighing the diverse influences from economic history and economic thought. It then discusses the reception of Lewis's paper in the context of the diverse standpoints representing economic thinking on development at the time, and their impact on Lewis's subsequent refinement of his model.

The well-known Lewis model was inspired by one of the models which W. Arthur Lewis presented in 1954. Yet it fails to capture his basic insights, leaving generations of students with the misapprehension that he saw industrialization as a panacea. If we avoid the limitations of the neoclassical recasting and reflect on the variations of Lewis's models, which he presented within the classical tradition, we can re-evaluate some of Lewis's neglected contributions. These relate to accumulation and trade as historical and contemporary problems and to the fundamental role that agriculture plays in development.

This paper asks how the Lewis model might be viewed from the perspective of economic science half a century later. Many of the core propositions remain intact, some might be amplified and a small number might be revised.

Arthur Lewis's seminal 1954 paper and its emphasis on dualism appeared at a time when neither the work of Keynes and HarrodDomar nor the later neoclassical production function of Solow seemed relevant for developing countries. As a consequence, his model, rooted in the classical tradition, plus its many extensions, generated an extensive literature at the center of development theory. The approach also encountered increasingly strong criticism, some of the 'red herring' variety. Some, spearheaded by neoclassical microeconomists like Rosenzweig, raised serious challenges and focused especially on its labor market assumptions. This paper reviews this landscape and asks what theoretical or policy relevance the Lewis model retains for today's developing countries.

The influence of John Maynard Keynes on the British financial policy in the second world war is discussed. His role in Britain's negotiation with the U.S on commercial policy is depicted.