Putting jurisprudence back into economics : what is really wrong with today's neoclassical theory / / David Ellerman

• Autore: Ellerman David P.
• Pubblicazione: Cham, Switzerland : , : Springer, , [2021]; ©2021
• Descrizione fisica: 1 online resource (193 pages)
• Disciplina: 330.157
• Soggetto topico: Neoclassical school of economics
• Nota di contenuto: Intro -- About the Book -- Contents -- Chapter 1: Introduction to the Jurisprudence of Property and Contract -- 1.1 Introduction -- 1.2 The Conventional Neglect of the Question of Appropriation -- 1.3 The Fundamental Myth -- 1.4 The `Invisible Hand´ in the Property System -- 1.5 Normative Theory of Appropriation and Transfers of Property -- 1.5.1 Applying the Juridical Principle of Imputation to All Intentional Human Activities -- 1.5.2 Rights-Based Normative Economics -- 1.6 The Fundamental Theorem for the Property Mechanism -- 1.7 Description of Production in the Employment System -- 1.7.1 The Facts of the Case -- 1.7.2 How Does the Description of Employment Square with the Fundamental Theorem? -- References -- Chapter 2: Mathematical Introduction to the Jurisprudence of Property and Contract -- 2.1 From Numbers to Vectors of Numbers -- 2.2 Graphs -- 2.3 The Contractual Mechanism -- 2.4 Analysis of Breaches and Externalities -- 2.5 ``Appropriation Is the Boundary of Contract´´ -- 2.6 Responsible Actions and Factual Transfers -- 2.7 Fundamental Theorem of Property Theory -- 2.8 Intuitive Summary of Basic Ideas: A Water Meter Example -- 2.9 Intuitive Summary of Basic Ideas: Accounting Examples -- 2.10 Application to the Human Rental Firm -- 2.11 Appendix: The Mathematical Development Using General Vectors -- 2.11.1 Node and Arc Assignments -- 2.11.2 Divergence Operator -- 2.11.3 Cuts -- 2.11.4 The Covering Relation -- 2.11.5 The Contractual Mechanism -- 2.11.6 Analysis of Breaches and Externalities -- 2.11.7 An Exchange Example -- 2.11.8 Appropriation Is the Boundary of Contract -- 2.11.9 Responsible Actions and Factual Transfers -- 2.11.10 Fundamental Theorem of Property Theory -- 2.11.11 Application to the Human Rental Firm -- 2.11.12 The Equivalence Between the Two Mathematical Formulations -- References. ; Chapter 3: The Property Fallacy in Capital Theory and Corporate Finance Theory -- 3.1 The Appropriation of Produced Assets and Liabilities -- 3.2 The Property Fallacy in Capital Theory -- 3.3 The Property Fallacy in Corporate Finance Theory -- 3.4 Property Interpretation of the Book-Plus-Profits Formula -- 3.5 Future Whole Products as ``Goodwill´´ -- References -- Chapter 4: The Arrow-Debreu Model -- 4.1 Introduction -- 4.2 The Modeling Error in the Arrow-Debreu Model -- 4.3 Separating Corporations from Firms Utilizing Production Sets -- 4.4 Production as Arbitrage Between Input and Output Markets -- 4.5 Endgames to Defend the AD Model -- 4.5.1 Defining Away the Problem with Owner-Specified Outputs -- 4.5.2 Hidden-Factor Ploys -- References -- Chapter 5: Marginal Productivity Theory -- 5.1 What Is the Frame of Discussion? -- 5.2 Heterodox Criticism of MP Theory -- 5.3 Isn´t the Distribution of Wealth and Income the `Real´ Problem? -- 5.4 The Fork in the Road for the `Labor Theory´ -- 5.5 The Question of Appropriation Again -- 5.6 The Pons Asinorum of Property Theory -- 5.7 The Descriptive Question of Appropriation -- 5.8 The Normative Question of Appropriation -- 5.9 The Juridical Principle of Imputation -- 5.10 On the Theory of Marginal Productivity -- 5.10.1 The Metaphor: Treating the Productive Services of Things Like the Responsible Actions of Persons -- 5.10.2 The Mistake: No Division of Actual Property Rights to the Product -- 5.10.3 The Miracle: Each Factor´s Immaculate Production of Its Marginal Product -- 5.11 Conclusions About MP Theory -- 5.12 Mathematical Appendix on Vectorial MP Theory -- References -- Chapter 6: Marxism as the Ultimate `Capitalist Tool´ -- 6.1 Introduction -- 6.2 Marx´s Labor Theory of Value -- 6.3 Marx and Marxism´s Huge Favors for the Human Rental System. ; 6.3.1 Huge Favor (1) ``Capitalism Is Based on Private Property Rights´´ -- 6.3.2 Huge Favor (2) ``The Basic Question Is: Consent Versus Coercion´´ -- 6.3.3 Huge Favor (3) ``Value Theory Is the Intellectual Battleground to Analyze Capitalism´´ -- 6.3.4 Huge Favor (4) ``Inalienable Rights!? Nonsense on Stilts!´´ -- 6.3.5 Huge Favor (5) ``Democracy Is Only Relevant in The Public Sphere -- Capitalist Enterprises Are Private´´ -- 6.3.6 Huge Favor (6) Marxism as the Leftwing Ideology of One-Party Autocracy -- References -- Chapter 7: The Logical Fallacy in Cost-Benefit Analysis and Law and Economics -- 7.1 Introduction -- 7.2 The Same-Yardstick Fallacy and Definitional Statements -- 7.3 An Example of the Fallacy in the Law and Economics Literature -- 7.4 The Analysis with a Non-Involved Numeraire -- References -- Chapter 8: Jurisprudence and the Corporate Governance Debate -- 8.1 Introduction -- 8.2 Two Types of Rights: Property Rights and Personal Rights -- 8.3 Corporations and Cooperatives -- 8.4 Stakeholder Governance -- 8.5 What About Shareholder Democracy? -- 8.6 Concluding Remarks -- References -- Chapter 9: Invalidity of Personhood Alienation Contracts -- 9.1 Introduction to Rights-Based Normative Economics -- 9.2 Examples of Injustice as Non-Correspondence -- 9.3 Example 1: The Coverture Marriage Contract -- 9.4 Example 2: The Voluntary Slavery or Perpetual Servitude Contract -- 9.5 Example 3: Pactum Subjectionis -- 9.6 De Facto Inalienability -- 9.7 Employment Contract as the Human Rental Contract -- 9.8 Example 4: The Human Rental Contract -- 9.9 Frank Knight as an `Exceptional´ Classical Liberal Thinker -- 9.10 Classical Liberal Jurisprudence and the Abolition of Certain Voluntary Contracts -- 9.11 The Democratic Alternative -- 9.12 Concluding Remarks on the Inalienability of Responsible Agency -- References. ; Chapter 10: Concluding Remarks About Jurisprudence and Neoclassical Economics -- 10.1 What Is Really Wrong Descriptively? -- 10.2 What Is Really Wrong Normatively? -- References -- Index.
• Titolo autorizzato: Putting Jurisprudence Back into Economics
• ISBN: 3-030-76096-0
• Formato: Materiale a stampa
• Livello bibliografico: Monografia
• Lingua di pubblicazione: Inglese
• Record Nr.: 9910488723003321
• Lo trovi qui: Univ. Federico II