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Joseph Schumpeter was one of the foremost economic thinkers of the twentieth century. He is well-known for his idea of 'creative destruction'. He argued that mass democracy had totalitarian tendencies and was likely to degenerate into the tyranny of the popular. This volume is part of the "Major Conservative and Libertarian Thinkers" series.

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The renowned economist Joseph A Schumpeter (1883-1950) made seminal contributions not only to economic theory but also to sociology and economic history. This anthology emphasizes his broad socio-economic vision and his attempt to analyze economic reality from several different perspectives.

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Numerous case studies and empirical investigations have demonstrated the importance, and merits and drawbacks of such institutions. This book builds on these studies and constructs a toolkit of theoretical models to analyze them. It examines the theory of private institutions that transcend or supplement weak economic governance from the state.

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Inflation, asset prices, exchange rates, investment, and consumption are just some of the economic variables that are largely explained by expectations. This title explains a variety of expectation formation models by focusing on the learning factor. It develops analytical techniques and uses them to synthesize and extend research.

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An account of the economics behind antitrust law, discussing recent developments in the areas of price fixing, horizontal mergers, and exclusionary vertical contracts.

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The historical record concerning industrialization since 1770 is consistent with the classical view of economic growth, but not with the currently accepted neo-classical growth theory. Nineteenth-century industrialization, the world wars and the Depression, the post-war boom, and the more recent slowdown in growth are discussed.

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This book considers the social and economic arrangements that would be necessary for rational mechanisms of exchange and distribution to emerge, function, and remain viable if extreme conditions produced an absence or the severe destruction of an institutional infrastructure and of resource endowments.

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The theory of development, use, conservation, social impact, etc., of natural resources is presented.

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Treating the market as a complex social category, and not just as a purely economic phenomenon, this book presents two frameworks for analyzing the market in relation to society. The result is an original and enlightening examination of such subjects as the nature of the market, market laws, equilibrium, and prices.

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This text examines the evolution of economics from Antiquity to the present and shows the inadequacy of its approaches. The author then proposes an alternative formulation which sheds light on the enduring features of market economics and also makes economics consistent with physics.

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Unveils a theory of the market economy. Arguing that most economists use overly abstract models of how the economy operates, this book seeks an empirically based alternative. It creates mathematical models of how the economy works and how the interaction of its sectors creates mutual protection from the uncertainties of business.

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Provides a formal theory of nonmarket failure, analyzing such problems as redundant costs, monopoly, frequency of unanticipated externalities, and bureaucracy in such nonmarket institutions as foundations, universities, and government.

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This book 'puts markets in their place', knocking them off the pedestal as the self-organising marvel of capitalist economies. It debates a wide variety of markets, markets for food as well as for capital, for domestic service and for scientific knowledge, markets that succeed and markets that fail. -- .

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The history of capitalism has long been thought to be a sequence of recurring crises that appear in various forms: crises in employing people, crises in obtaining resources, and financial crises. Marx's Crises Theory: Scarcity, Labor, and Finance provides a framework for interpreting Marx's theory of crises.

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The failure of state socialism in Eastern Europe and the Soviet Union has not dissuaded those who wish to keep Marx alive from pushing workers' self-management as a feasible enterprise in a free market system.

Prychitko's volume does more than simply interpret the meaning of Marxism.

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The progress of the Greek economy from its low point in 1950 to its healthy state in 1963 is traced in detail by Professor Zolotas, Governor of the Bank of Greece for the last ten years. Originally published in 1965. The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from

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This is the first comprehensive presentation of how monetary policymakers can use market prices to produce price stability. The approach is easily adapted to the above-cited change: it adopts a price stabilization policy goal and uses key market prices from the commodity, foreign exchange, and bond markets as guides to policy.

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This study discusses the roles of money, systems, and growth in the merging, new economic order.