History of Economics

The prevailing belief, dating from Adam Smith, that the balance- of-trade was the dominant facet of English economic policy since the time of Thomas Mun, is questioned. It is argued that Samuel Fortrey is a more likely "founder" for this doctrine and that the influence of the balance-of-trade is due almost entirely to politics. THE POLITICAL BALANCE OF TRADE . . . ? ? "Before they learn there Is a God to be worshipped they learn there are Frenchmen to be detested," Fougebert de Montbron, quoted by Roy Porter, English Society in the Eighteenth Century * It is well-known that concern for the Balance-of-Trade is the distinguishing mark of the economic thought of the century prior to Adam Smith. No one would deny that the balance-of-trade is one impor- tant aspect of trade. What is striking is the enormous importance attached to the Balance-of-Trade under the Mercantile System. Was the almost hysterical stress laid upon the Balance-of-Trade a sign of demented economic thought or was the hysteria a cover for some noneconomic objectives of the pamphleteers? Adam Smith attributed the Balance-of-Trade doctrinea phase I shall use throughout to indicate the near exclusive emphasis given to this concept -to a failure to distinguish real from nominal wealth and suggested that the doctrine originated with Thomas Mun In the 1620s. In this paper, I shall try to focus more precisely on the rise of the Balance-of-Trade (interpreted in the extreme sense noted above) in order to suggest that Thomas Mun had very little to do with the rise of this doctrine. Rather, Samuel Fortrey appears to have been the most influential figure in arousing popular concern. This suggests that the doctrine of the Balance-of-Trade may have been a cover for discussing the non- economic dangers of the Anglo-French Trade and, if the conjecture is reasonable, it would require a substantial change in our view about "Mercantilism." A long-established tradition in the history of economic thought credits the East India merchant, Thomas Mun, with being the chief

The article aims to show that the paradigm in economics will not change significantly despite descriptive criticism because of axiomatic assumptions. To demonstrate this I analyze Becker's economic approach using Lakatos' methodology of scientific research programmes. I indicate the hard core (instrumental rationality, utility maximization, equilibrium), as well as the protective belt that makes the hard core immune from descriptive criticism. Because of its tautological nature, Becker's approach is considered a degenerative programme. This conclusion is extended to neoclassical economics where the tautologicality of rationality and utility leads to various problems. Ultimately, the immunization strategy hinders paradigm change in economics.

ENG: The development of double-entry bookkeeping represents one of the most significant innovations in the history of accounting, profoundly transforming the recording and interpretation of economic transactions. This study examines newly discovered accounting registers from the late 14th century, produced by the Camera del Comune of Florence—the principal institution overseeing public finances—which shed new light on the actual use of double-entry practices at that time. The research explores the introduction of this method into state financial management during a period marked by economic and military crisis, particularly following the death of condottiere John Hawkwood in 1394 and the ensuing fiscal pressures caused by ongoing conflict with the Visconti of Milan.

The findings indicate that, prior to 1395, Florentine public accounting was primarily single-entry, suitable for tracking revenues and expenses but insufficient for monitoring complex financial flows. The establishment of the Officium Bancheriorum in 1394 marked a turning point, as double-entry bookkeeping was formally adopted for managing military expenditures. The first surviving double-entry register, dated 1395, demonstrates a high level of sophistication, including systematically balanced accounts, clear debtor-creditor structure, and consistent carryover of balances.

This paper examines the history of econometrics through a particular case study modelling the tradeoff between inflation and unemployment. It focuses on the questions of what econometric tools modellers would choose to model the tradeoff, how their choices helped shape the ways that they obtained, interpreted and theorised the empirical evidence and how their different concerns and the different problems that they encountered has fed back into the development of econometrics. The study reveals that much of the interaction between econometrics and economics involved modellers taking certain tradeoffs between theory and data, and their different positions generated disputes, factions as well as confusions. It also reveals that the history of modelling the tradeoff mirrors the evolving process of how the Cowles structural modelling paradigm in econometrics became consolidated, challenged, reformed or abandoned.

Some Marxists now take for granted the notion that household production represents a necessary subsidy to the capitalist class–and as a consequence, that the commodity labour-power is paid less than its value. This contradicts the position taken by Michael Heinrich in Die Wissenschaft vom Wert, that workers are paid for the commodity labour-power at its value. In his rebuttal of this “subsidy” claim present in much of Marxist Feminism, Heinrich takes a wrong turn when he calls household production “a pre-capitalist relic.” In this response, I show that the capitalist form of household production is not an anachronism because it must include not only domestic labour but also commodities purchased with the wage. This interpretation strengthens Heinrich’s stance that household production is not a subsidy and the purchase of the commodity labour-power by capitalists involves an exchange of equivalents.

The political constitution of markets is promoted by Montchrestien whereas, on the contrary, the absolute autonomy of the sphere of exchange is favoured by Cantillon. Yet, this article seeks to demonstrate that both authors participate in the emergence of a modern way of thinking about the economy. In both cases, we find the idea that the sphere of exchange acquires an autonomy which requires the application of a specific science. In the case of Cantillon, this autonomy is absolute and anticipates the foundations of contemporary economics. On the other hand, Montchrestien's work forms part of a "political economy". This article also aims to show that the mercantilism attributed to Montchrestien in no way implies that, in principle, the economy is a simple transposition of a war-like model. Similarly, it will seek to show that Cantillon, a supposed mercantilist, does not suggest that state intervention is futile, even if he adheres to the fundamental principles of econo...

This article quantitatively examines women’s wealth in İstanbul in the first half of the 18th century, using inheritance records extracted from İstanbul Court Registers. This study aims to analyze the economic status of women and the factors influencing them based on wealth-related data. This study starts with a general assessment of the wealth distribution in İstanbul in the first half of the 18th century, followed by an interpretation of individual wealth by gender. The present study also tries to explain the gender wealth gap (GWG) by linking it to the sources of women’s wealth. Additionally, it attempts to profile wealthy women, examine their wealth sources and components, and assess the relationship between titles and wealth. In the present study, quantitative findings were interpreted statistically, supported by qualitative findings. In addition, Mann-Whitney U and Kruskal-Wallis H tests were applied to determine whether there is a statistically significant difference between gender-wealth, debt-wealth, and title-wealth variables. As a result, it is concluded that women’s limited sources of wealth accumulation play a crucial role in creating a gender wealth gap between women and men in highwealth groups; the level of borrowing by gender influences the difference in the gender wealth gap between total and net wealth, and a significant relationship exists between women’s title and their wealth.

Credit relations in the Ottoman Empire developed within the framework of the Islamic prohibition of riba. In this context, murabaha, was used by the Ottomans in the sense of a legitimate (free from riba) return on loans along with its classical jurisprudential meaning. However, especially since the second half of the nineteenth century, murabaha was also burdened with the meaning of usury, which signifies riba. This article aims to analyse the transformation of murabaha in the nineteenth century Ottoman Empire and examines how meanings changed and transformed as a result of social reality permeating daily language. In this context, Ottoman credit terminology and the socio-economic history of credit relations will be analysed in the Late Ottoman Empire. Archival documents, writings of Ottoman authors in newspapers and books, translations from foreign languages and dictionary sources as well as sharia court records and fatwas will be used in the research. In the light of the mentioned sources, it is aimed to correct some misconceptions in Ottoman historiography regarding credit relations. In addition, the development of credit relations in the Ottoman Empire and how these relations were shaped will be revealed by tracing the evolution of murabaha in Ottoman history.

Doctor en Periodismo por la UCM (1988) GIIAC (UCM/UMA) Desde que regresé a España en 1971, me interesaron sus tradiciones populares, especialmente las fiestas, que mantenían muy arcaicos ingredientes, y que mostraban una cultura de resistencia a las imposiciones del doble poder político-religioso. Bajo un sustrato católico, se mantenían vivas las raíces paganas. Durante décadas, trabajando como periodista free-lance, conseguía publicar reportajes descriptivos e informativos sobre diversas celebraciones rituales. Desde 1978 me volqué en el estudio de las fiestas tradicionales del antiguo reino de Granada (con su núcleo en las de Moros y Cristianos), que apenas habían variado en siglos, utilizando una metodología científica para desvelar sus significados ocultos y tratar de interpretarlos. A finales de la década de los 80 dejé el periodismo para dedicarme de lleno a la antropología y el vídeo etnográfico, realizando varias campañas etnológicas en Andalucía, Guatemala. México, Perú y Bolivia, investigando sobre la herencia hispana de las fiestas indígenas americanas.

This paper examines the Indian reception of Sraffa’s Production of Commodities by Means of Commodities (1960) by focusing on book reviews published in prominent Indian journals. While Krishna Bharadwaj’s review in The Economic Weekly (1963) has received significant scholarly attention, this has not been the fate of Sukhamoy Chakravarty’s review in Arthaniti (1961) and J. K. Mehta’s review in the Indian Journal of Economics (1962). In Bellino’s (2008) book chapter focused solely on book reviews of PCMC, there is only a brief engagement with Bharadwaj’s review and the book reviews of Chakravarty and Mehta are only mentioned. From my study of the Indian book reviews, the following key themes emerge: a restatement of key propositions of classical political economy, a critique of marginalism, the relationship between economic theory and policy, and similarities with input-output analysis—thus placing these reviews, especially that of Bharadwaj, as some of the best ones that were published.

Torino, IBL Libri 2023, comprendente uno splendido ed inedito saggio del 1982 che ne anticipa temi e trama). Per questo, a distanza di svariati decenni da che alcuni furono scritti, essi conservano intatta la loro importanza e confermano pienamente la nuova considerazione che giustamente si è imposta di Hayek. CARL MENGER, Errori e miserie dello storicismo, a cura e con un Saggio introduttivo di Raimondo Cubeddu e Marco Menon, IBL, Torino, 2023, pp. xi-183, € 20,00. Il confronto sul metodo delle scienze sociali, il Methodenstreit, che coinvolse Carl Menger (1840-1921) e la Scuola storica tedesca dell'economia, per quanto distante ormai più d'un secolo dalla nostra contemporaneità, non ha perso vitalità e importanza. Si tratta di un dibattito acceso che apparentemente è condotto sul solo terreno dei problemi metodologici, ma a cui, in realtà, soggiace una componente 'politica' che tutt'ora difficilmente può essere ignorata nelle discussioni sul metodo delle scienze sociali. Non solo come presupposto, ma anche come esito, la 'politica' si ascrive pienamente tra i termini che caratterizzano il Methodenstreit. Errori e miserie dello storicismo presenta, tramite un'accurata selezione di testi, le argomentazioni dei due principali protagonisti del confronto: Menger e il massimo rappresentante della Scuola storica tedesca di economia -per lo meno nella fase storica in cui il dibattito si svolge -Gustav von Schmoller . Il problema attorno al quale ruotano entrambi, e che prende il via dalle Untersuchungen mengeriane del 1883, concerne il ruolo che la storia deve avere all'interno della scienza e della politica economica; più precipuamente, ciò che Menger ha avuto modo di mettere in luce è l'unilateralità dello storicismo imperante tra gli studiosi della Scuola storica che non ha permesso grandi avanzamenti nella teoria economica, relegandola invece a una sorta di collezione di casi in continuo aggiornamento che non permettono la formulazione di leggi generali in grado di rendere veramente conto dei fenomeni economici. La criticità segnalata da Menger ha a che fare con l'atteggiamento attendista e inutilmente cauto di questi studiosi, presi da una sorta di "vertigine descrittiva" (p. 140) incapace di volgere lo sguardo oltre il 'particolare' presentato dalla ricerca storica. Per Menger, l'errore di questa concezione sta nell'impossibilità (o nel rifiuto) di considerare i fenomeni economici come fatti composti da molteplici moventi individuali, non orientati in senso teleologico e soprattutto non esauribili nella considerazione di una volontà collettiva. Lo Stato, la società, la classe, il popolo non sono entità in grado agire 'economicamente', nello stesso senso delle economie individuali o private, ma sono il risultato inintenzionale di azioni individuali intenzionali (p. 25). Non esistono leggi di sviluppo storico scopribili da un attento (e infinito) esame delle fonti, dei dati e delle osservazioni storiche in grado di spiegare la 'natura' dei fenomeni economici; questi muovono tutti da moventi individuali che si compongono senza un disegno in grado di prevedere e dunque di evitare tutte le conseguenze inintenzionali di tale aggregazione. Ecco dunque che lo storicismo, nel suo tentativo di cogliere delle leggi universali di sviluppo che possano fungere

Zarys treści: W tekście ukazano amerykańskie zapatrywania na możliwości wykorzystania polskiego węgla dla odbudowy powojennej Europy. W USA wsparcie w modernizacji przemysłu węglowego wiązano ze swobodami politycznymi nad Wisłą. Amerykańskie spojrzenie na potencjał polskiego węgla dla Europy kształtowały m.in. objęcie Europy planem Marshalla, procesy integracyjne na Zachodzie i pogłębiający się konflikt zimnowojenny.

LVII Settimana di Studi Le associazioni di mestiere nell'economia dell'Europa preindustriale (secoli XII-XVIII) • Trade associations in the economy of pre-industrial Europe (12th-18th centuries) Prato, 10-14 maggio 2026 Cristoforo de Predis (ca. 1450-1460), De Sphaera (Modena, Biblioteca Estense Universitaria, a.X.2.14

The political constitution of markets is promoted by Montchrestien whereas, on the contrary, the absolute autonomy of the sphere of exchange is favoured by Cantillon. Yet, this article seeks to demonstrate that both authors participate in the emergence of a modern way of thinking about the economy. In both cases, we find the idea that the sphere of exchange acquires an autonomy which requires the application of a specific science. In the case of Cantillon, this autonomy is absolute and anticipates the foundations of contemporary economics. On the other hand, Montchrestien's work forms part of a "political economy". This article also aims to show that the mercantilism attributed to Montchrestien in no way implies that, in principle, the economy is a simple transposition of a war-like model. Similarly, it will seek to show that Cantillon, a supposed mercantilist, does not suggest that state intervention is futile, even if he adheres to the fundamental principles of econo...

I Quaderni di Ricerca vengono pubblicati per favorire la tempestiva divulgazione, in forma prov-visoria o definitiva, dei risultati delle ricerche nelle aree: società e storia, istituzioni e politiche pub-bliche, economia, la società dell'informazione. Il Comitato Scientifico decide circa la pubblicazione di lavori nella collana dei Quaderni di Ricerca, sentito il parere di referees. The aim of the Quaderni di Ricerca (Working Papers) is to disseminate provisional or definitive research on topics such as society and history, public policies and institutions, economic phenomena, and the 'information society'. The publication of the submitted articles, which will be refereed, are subjected to approval by the Scientific Committee. I Quaderni di Ricerca sono depositati come opere a stampa secondo gli obblighi previsti dall'art. I diritti di traduzione, di memorizzazione elettronica, di riproduzione e di adattamento anche parziale, con qualsiasi mezzo, sono riservati per ...

Ekonomik büyüme, ülke ekonomilerinde en önemli makroekonomik hedefler arasında yer almaktadır. Söz konusu hedef, küreselleşme süreci ile birlikte içeriği genişletilerek ekonomik kalkınma olarak güncellenmeye başlamış ve sürdürülebilirliğin önemine vurgu yapılmıştır. Bu durum bazı sektörlerin ön plana çıkmasıyla mümkün olabilmektedir. Hizmet sektörünün alt kolları arasında bulunan lojistik sektörü bu kapsamda değerledirilebilmektedir. Teknolojik ilerlemeler, bilgi-bilişim sektöründeki gelişmeler ve artan nüfus ile birlikte gümrük ve lojistik faaliyetlerinde önemli gelişmeler yaşanmıştır. Bu çalışmada 2007-2018 örneklem dönemine ait gümrük ve lojistik ile ekonomik büyüme ilişkisi 10 gelişmekte olan ülke açısından ele alınmaktadır. Küreselleşmenin derinleştiği 2000'li yıllar sonrası dönemi kapsayan örneklem döneminin ele alındığı çalışmada panel veri analizi yönteminden yararlanılmaktadır. Söz konusu çalışmada kontrol değişkeni olarak ihracat kullanılmıştır. Böylece ekonomik büyüme üzerinde hem gümrük ve lojistik faaliyetlerinin hem de ihracatın etkisi ortaya konmaktadır. Ampirik bulgular, analize dâhil edilen gelişmekte olan ekonomilerde lojistik sektöründe meydana gelen gelişmelerin ekonomik büyüme üzerinde negatif etkisi olduğunu göstermektedir. İhracatta meydana gelen artışların ise ekonomik büyüme üzerinde pozitif etkisinin olduğu sonucuna ulaşılmıştır.

Dünyada belli başlı olaylar toplumdaki her kesimi etkilediği gibi kadınları da olumlu ya da olumsuz şekilde etkilemiştir. Yapılan devrimler ve savaşların kadınlar üzerindeki etkisi özellikle on sekizinci yüzyılda İngiltere'de ve Fransa'da yaşanan gelişmeler kadının hayattaki rolünün çıkış yeri olmuştur. İngiltere'de ortaya çıkan Sanayi Devrimi ile iş gücünün açığa çıkması nedeniyle kadınların iş hayatına atılması, Fransız İhtilali ile kadınların erkeklerle eşit hakka sahip olmak istemesi ve siyasi taleplerde bulunması, I. ve II. Dünya Savaşlarında topyekûn savaşa gidilmesi, erkekler cephede savaşırken kadınların erkeklerin yerini alması, Ekim Devrimi ile Lenin'in kadınları iş hayatında bulunması için kolaylıklar sağlaması ve desteklemesi kadınların hayattaki rolünü artırmıştır. Bu yaşanan gelişmeler sayesinde kadınlar hem ekonomik hem sosyal hem de siyasi kurumlarda etkin rol oynamıştır (Sağlık ve Çelik, 2018: 100; Çolak, 2024: 52).

Remarkably, there is a considerable amount of research on the economic development of Baku and its environs in the second half of the 19th century and one of the main sources of information least known yet is the contemporary press.
The economic development of Azerbaijan had a tremendous impact on the development of the Russian economy. Moreover, the prominence of the Azerbaijani oil trade remained crucial in the following decades, when the socialist movement gained force in the region. In their turn, the Bolsheviks were keen on holding Baku and Azerbaijan within the Soviet State.
Such economic developments indeed influenced understandably the cultural life of society. Therefore, the fast economic growth of Azerbaijan, mainly due to the exploration and production of oil, became a source of social diversity after many investors and manufacturers decided to come and settle down in the country, at first in Baku.

Makale, Güney Kafkasya'nın jeopolitik, jeostratejik ve jeo-ekonomik önemini, mevcut güvenlik sorununu ve Rusya'nın ve diğer uluslararası güçlerin çatışan çıkarları arasında ortaya çıkan sorunları inceliyor. Güney Kafkasya'daki bölgesel güvenlik sorunları, bölgesel güç merkezlerinin etkisi ve bölgesel güçlerin dış politika yönleri bağlamında incelenmektedir. Mücadele dışındaki ülkelerin fırsatları analiz ediliyor. Bugün, mevcut etki bölgelerinin sınırları mevcut güvenlik ortamı ve onu etkileyen faktörler ile karakterize edilmektedir. Azerbaycan'ın hidrokarbon kaynaklarının ve transit potansiyelinin, Rusya ve Batı ülkelerinin Güney Kafkasya'nın güvenlik ve askeri-siyasi istikrarını sağlamadaki önemi gösterilmiştir. Rusya'nın mevcut çatışmaların çözümünde veya mevcut durumunun ve bölgedeki siyasi ve ekonomik ve askeri durumu kontrol etme olasılıklarının devam etmesindeki rolü düşünülmektedir. Makale, siyaset biliminin genel bilimsel ve teorik yöntemlerini kullanmıştır: karşılaştırmalı ve sistematik yaklaşım, analiz ve sentez yöntemleri. Ortaya çıkan konulara kapsamlı bir yaklaşım, paralel paralellikler ve sorunun kapsamlı ve kapsamlı analizi. Araştırma, konular ve sonuçlar gelecekte bu alanı inceleyen araştırmacılar için yararlı bir kaynak olacaktır.

La rilettura di un economista non mainstream, Giuseppe Toniolo, da parte dell’arcivescovo Domenico Sorrentino. Da Toniolo la proposta di un’economia scientifica, ma non scientista, non individualistica ed
egoistica, ma orientata verso il bene collettivo e capace di riannodare
le relazioni metodologiche e operative con le altre scienze sociali e umane.

Bu çalışmada, Osmanlı Devleti’nin son döneminde kadınların eğitimi için
açılan yollar ve o yollardan geçerken yaşanan zorluklar kapsamında kadının
tıp, diş hekimliği ve eczalık alanlarında eğitim alarak sağlık sektöründe çalışma
hakkını elde etme mücadelesi ve sağlık eğitimine kabul ediliş süreçleri ele
alınmıştır. Aynı zamanda bu alanlarda eğitimini tamamlayarak söz konusu
meslekleri icra etmeyi hak kazanan ilk Türk kadınları hakkında bilgi verilmiştir
(Emel, Namal, 2024:439).

El presente libro tiene el propósito, en primer término, de analizar la vida y obra de Ignacia Rodulfo, acontecidas entre el siglo XIX e inicios del siglo XX, para comprender las razones que la llevó a crear esta obra y, en segundo término, analizar la labor de la Fundación Ignacia durante un siglo de existencia, con el fin de entender y explicar el porqué de su permanencia en el tiempo.

Among the many avenues opened up by Jacques Le Goff for an anthropology of the Middle Ages is the dialectical opposition between two conceptions of time that could be summed up in these two irreconcilable propositions: “time belongs only to God” (the time of the Church) and “time is money” (the time of the merchant). In detail, however, there are many examples that nuance this opposition. Among them, many markets and fairs in the Middle Ages saw their calendar coincide with that of specific religious events and particularly with that of theostensions, the ceremonies at which the relics were displayed. In these cases, did the merchants align their calendar with that of the relics or did the relics follow the merchants’ rhythm? Our aim here is to study a series of synchronies between the ostensions of relics and fairs. We will confine ourselves to therelics of Christ, which were regularly the subject of this type of event.

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We propose that certain classes of economic models best be understood as 'fictions,' in the sense promoted by Roman Frigg and others. The structure of the argument parallels that made by Arnon Levy for information in biology. The lesson is that economists are not really all that concerned over the sorts of things, such as the nature of knowledge, that philosophers deem central to epistemology.

Nous proposons une étude empirique analysant le lien entre un régime monétaire et les pratiques monétaires informelles, tous deux se situant dans le cadre du système monétaire d'un pays, celui du Currency Board à Djibouti. Les résultats économétriques, de différents tests de cointégration entre la balance des paiements, la base monétaire et le système informel des transferts de fonds (hawala) pour la période 2002 -2011, montrent que ces pratiques informelles se développent en harmonie avec le régime monétaire, extrêmement rigide. L'interaction du secteur formel et informel permet d'obtenir un équilibre macro-monétaire et fait perdurer le régime de Curency Board.

The task of this research article is to shed light on the Republic of Vietnam (RVN/ South Vietnam) - the Republic of Korea (ROK/South Korea) economic ties from 1965 to 1975. The author employed the methodology of histology, including a historical documentary approach, along with desk-research paper reference to acknowledge that the economic relation between South Vietnam and South Korea is a realm of bilateral diplomatic relations and the war is a factor to give a heavy impulse to economic ties. While South Vietnam was subjected to South Korea’s aid to repulse the attacks of Communists as well as reconstruct the national economy after the war, the South Korean government also engaged in South Vietnam’s market and benefited from the US aid and free trade market for South Korea’s commodity consumption. After the removal of Allied troops, South Vietnam and South Korea remained its economic ties to supersede the role of the US in Southeast Asia as well as safeguard South Vietnam from Communism, which was expected to make a seismic change in the economy in this country subsequent to the Fall of Saigon in 1975.

Глубокое понимание передовой экономической теории, талант преподавателя в сочетании с огромной трудоспособностью позволили Владимиру Железнову уже в 30 лет подготовить к изданию главный труд своей жизни «Очерки политической экономии». Издательский успех «Очерков»-восемь изданий в дореволюционной России, издание 1918 г. в Германии-убедительно свидетельствует о том, что ему удалось дать содержательный ответ на интеллектуальный запрос поворотной исторической эпохи и уже тем самым занять достойное место в истории экономической мысли России. В. Железнов остается первым российским ученым, раскрывшим мировому сообществу экономистов широкую, теоретически насыщенную панораму развития экономической мысли в России в ее особенно плодотворный период (конец XIX-XX в.). Ключевые слова: экономическая теория, история экономической мысли, политическая экономия. JEL: B1, B31.

Messori's paper analyzes the possible impact of the recent crises on the teaching of macroeconomics. In contrast with what happened during the Thirties, today we do not have a new macroeconomic paradigm. This is way the mainstream textbook of Blanchard-Amighini-Giavazzi (2010) remains the best teaching tool for introductory macroeconomics. This conclusion is refused by Amighini-Giavazzi as well as by heterodox economists such as Brancaccio. The first two authors argue that the criticisms raised at the 'mainstream' approach to the teaching of macroeconomics overlook the need for a strong pedagogy. On the contrary, Brancaccio criticizes the mainstream approach through modification of the functional form of a given equation system and reversal of its exogenous and endogenous variables.

This article quantitatively examines women's wealth in İstanbul in the first half of the 18 th century, using inheritance records extracted from İstanbul Court Registers. This study aims to analyze the economic status of women and the factors influencing them based on wealth-related data. This study starts with a general assessment of the wealth distribution in İstanbul in the first half of the 18 th century, followed by an interpretation of individual wealth by gender. The present study also tries to explain the gender wealth gap (GWG) by linking it to the sources of women's wealth. Additionally, it attempts to profile wealthy women, examine their wealth sources and components, and assess the relationship between titles and wealth. In the present study, quantitative findings were interpreted statistically, supported by qualitative findings. In addition, Mann-Whitney U and Kruskal-Wallis H tests were applied to determine whether there is a statistically significant difference between gender-wealth, debt-wealth, and title-wealth variables. As a result, it is concluded that women's limited sources of wealth accumulation play a crucial role in creating a gender wealth gap between women and men in highwealth groups; the level of borrowing by gender influences the difference in the gender wealth gap between total and net wealth, and a significant relationship exists between women's title and their wealth.

The research "Transfer and Reception of New Institutional Economics: An Example of Two Universities in Serbia" 1 was conducted in 2005/2006. In order to achieve the goals of the Serbian team of the DIOSCURI project, the main aim of the case study is analysis of the influence of Western institutions in the light of transfer and reception of new institutional economics in two academic institutions in Serbia: The Faculty of Law (The Department of Law and Economics) of the University of Belgrade, and The Faculty of Management of BK University. The title of the case study illustrates the focus of the entire research: analysis of Western influence, namely transfer and reception of new institutional economics, on the two institutions and possible obstacles caused by old-fashioned stakeholders and informal institutions. Bearing in mind that the Department of Law and Economics is the leader in the reception of the new institutional economics (NIE) in Serbia, the case study will be mostly about it. The Faculty of Management was chosen because of its "greenfield" character and the fact that from its very beginning it followed the experiences of * The paper is a result of the authors' participation into the DIOSCURI Project no. CIT2-CT-2004-506024: Eastern Enlargement-Western Enlargement. Cultural Encounters in the European Economy and Society After the Accession, European Commission 6 th Framework Program, Specific Targeted Research Projects (STREP), 7 th Priority: Citizens and Governance in Knowledge-based Society. We thank to all respondents their readiness to cooperate and for their professional solidarity. 1 The study compares a department as a faculty unit belonging to a public university, with a faculty. Although not the same, for the purpose of this study, this is a respective organizational unit of a private university. Both entities offer economic knowledge courses as supplementary and supporting to either the study of law (the Department of Law and Economics of the Faculty of Law) or to the study of management (the Faculty of Management). ALEKSANDRA JOVANOVIû I ALEKSANDAR STEVANOVIû ȿɬɧɨɚɧɬɪɨɩɨɥɨɲɤɢ ɩɪɨɛɥɟɦɢ ɧ.ɫ. ɝɨɞ. 6. ɫɜ. 1 (2011) 120 North American universities. The research investigates whether and how the transfer and reception of the Western ideas and economic theory, particularly the NIE, is affected by the difference between an institution with a two-hundred-year tradition and a newly established one. The question is how a traditionalist institution like the Faculty of Law communicated Western economic thought and whether endurance in teaching the exclusively Marxian paradigm up until the 1990s, was an obstacle to the reception of Western economic thought, particularly NIE.

The first descriptive purpose of this article is to document changes in the industrial composition of Renaissance Florence through business censuses that we have extracted from household-wealth declarations in the 1427, 1433, and 1458 Florentine catasti (tax censuses). The finances of all Florentine businesses, both export oriented and domestically oriented, were comprehensively self-reported in these tax censuses-an innovative new element in the fiscal calculation of gross and taxable household wealth. These consecutive censuses reveal a decline in the number of businesses in many but not all of the industries in Florence over this thirty-year period. The second purpose of this article is to explain this economic decline. We find, through both quantitative and qualitative evidence, that the innovative tax catasti themselves were to blame: they all too effectively extracted enormous levels of taxes from the wealthy Florentine population in order to fund mercenary wars related to the emergence of Italian Renaissance regional or "territorial" states. The economic decline was due not only to the direct effect of heavy taxes but also to the indirect effect of default contagion among highly leveraged companies doing business with each other on credit. In a previous article in this journal, 1 John Padgett and Paul McLean demonstrated that high business leverage was rooted in the social embeddedness of Florentine businessmen in dense underlying social and political networks. Hence, "credit bubbles" occurred even in early-modern economies operating through personalistic social exchange. This case study contradicts the rosy portrait in the social science literature of a positive relationship between state formation and economic growth. We show * We are deeply grateful to Katalin Prajda and Claudia Tripodi, who were comembers of the archival research team out of which this project emerged. (See Scientia.global magazine, September 5, 2018, for an article about, and pictures of, the team.) We also appreciate the useful comments and suggestions of Bill Caferro, Richard Goldthwaite, and the anonymous JMH referees.

This paper addresses Artificial Intelligence (AI) technology and its impact on policy modeling research. The Policy Modeling Research Evaluation Model (PMRE Model) measures the effectiveness of AI search engines ChatGPT-4 and Google Scholar across the various stages of the policy cycle. The model suggests a five-stage optimization system to evaluate information retrieval: (i) input & storage sections, (ii) visualization of the PMRE Surface, (iii) potential-final solution, (iv) database of the final solution, and (v) the optimal solution. The model leverages AI search engines in the context of studying economic growth. Findings show that the two AI search engines can complement specific contexts. They serve different purposes, and their combination can lead to more robust outcomes.