A Financial Theory of the Business Cycle presents a new approach to business cycle theory based on the net present value. The book develops a novel diagrammatic approach to illustrate how fractional reserve banking systematically distorts net-present-value calculations. In addition to providing fresh insights, the new diagrammatic approach provides a comparative framework that can be used to compare pre-existing theories, including those of John Maynard Keynes, Friedrich Hayek, Mi...

The concept of rational expectations has played a hugely important role in economics over the years. Dealing with the origins and development of modern approaches to expectations in micro and macroeconomics, this book makes use of primary sources and previously unpublished material from such figures as Hicks, Hawtrey and Hart. The accounts of the '

In Time Series Analysis and Adjustment the authors explain how the last four decades have brought dramatic changes in the way researchers analyze economic and financial data on behalf of economic and financial institutions and provide statistics to whomsoever requires them. Such analysis has long involved what is known as econometrics, but time series analysis is a different approach driven more by data than economic theory and focused on modelling. An understanding of time series and the ...

But be warned, fellow traveler… this is not just a book—it is a journey into the very life of Death.Listen to the tales of the afterlife: Halloween, vampires, Heaven, Hell, Armageddon, zombies, death-bringing angels, ghosts, cults, ritual killings, nightmares from Vietnam... The lists goes on and on.Ever wondered if it was possible to cheat death? To kill Death?Did you know Death was a girl?Or that it’s possible to escape and even become death...

This Pictorial is a collection of images that represents a small part of Rabaul history. some of the imaged are a little distorted , many of these images are old and many have faded,many are over 100 years old Rabaul was known as Simpsonhafen during the German New Guinea administration which controlled the area between 1884 and formally till 1919. From 1910 Rabaul was the headquarters of German New Guinea until captured by the British Empire during World War I, when it became the capital o...

This book examines the origins of the IS-LM model, one of the most significant innovations in the history of economic thought. It shows that the complete IS-LM model, including the equations and diagram, was produced by a group of economists who contributed their respective mathematical models of Keynes’s General Theory, including Champernowne, Reddaway, Harrod, and Meade, not to mention Hicks. Furthermore, the book discusses the implications of newly discovered archival material, includin...

An invaluable documentation of evangelical heritage and vision that leaves a vital legacy for present and future generations of thinkers and leaders.

The 800 pound gorilla in the room of macroeconomics is the question of why the overlapping generations model didn’t become the central workhorse model for macroeconomics. Introduced in 1958 by Paul Samuelson, the model postulates an infinite number of finite-lived families. This is in stark contrast to the more dominant neoclassical growth model, which is based on the assumption that real economies are populated by a finite number of dynastic families. Despite the greater realism of the fo...

This book illustrates the role of international economic advisors in the development of Israel’s economic policies. Based on extensive archival and historical research, it presents case studies on the policy impacts of the world-renowned advisors Michal Kalecki, Abba Lerner, Richard Kahn, Milton Friedman, Herbert Stein and Stanley Fischer. The authors evaluate the contributions of these advisors to policy developments in various fields, including international trade and capital flows, exch...

IS-LM is perhaps the prime example of `cognitive dissonance' in economics, and is problematic to many economists. On the one hand, the IS-LM model is still taught by many academic economists or they use it to derive the AD-AS approach. On the other hand, the same economists realize the limitations of the basic IS-LM model and would not now use it for policy analysis, as they did in the past. The distinction between pedagogical and analytical efficacy is made by all the authors in this volu...

"Vermont Riflemen in the War for the Union, 1861 to 1865" by William Young Warren Ripley is a detailed account of the contributions made by Vermont soldiers during the American Civil War. The book highlights the bravery and sacrifices of these riflemen, showcasing their experiences on the battlefield and their commitment to the Union cause. Ripley, drawing from personal accounts and historical records, provides a vivid portrayal of the challenges faced by these men, emphasizing their role ...

This book provides a unique historical perspective on expectations in economic theory, and applications of expectations models in economic history. Based on papers presented at the 2017 Thomas Guggenheim Conference, it brings together the work of economists, historians of economics, and economic historians on issues and events concerning expectations in economics and economic history. The contributions address: (i) the history of expectations models; (ii) growth, expectations and political...