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William Barnett Ii, Walter E. Block
The Antimathematicality of Demand Curves
Summary:
Mathematics has proven so helpful in the physical sciences such as physics that it has been improperly applied to economics. The dismal science studies purposeful human action, while purpose in the hard sciences is properly dismissed as anthropomorphic. The present paper takes the demand curve as a case in point. It demonstrates that this tool of analysis is fundamentally flawed in that it violates its own economic assumption of ceteris paribus, and also the mathematical requirement that only the proper number of variables may vary along a given graph in two-dimensional space.
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Metody Kanev
Demographic and Institutional Conditions of Economy
Summary:
In this paper we focus on the impact of demographic dynamics and the social and political relations, respectively on their institutional framework.
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Walter E. Block
Rejoinder to Wysocki on Indifference and the Block-Hoppe Debate
Summary:
There has been an ongoing debate in Austrian economic circles on indifference and methodology. It started with Nozick (1977) who criticized this school of thought on that issue. Block (1980) responded to that essay. The main debaters within Austrian circles have been Block (2009A), Block and Barnett (2010), and Hoppe (2005, 2009). Wysocki (2017) is a recent entry into this discussion. The present paper is a response to this latter contribution.
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Nikolay Nenovsky
About the Economic Convergence
Summary:
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Nikola Gaydarov
The Economy of Experiences During a Cruise Tourist Program
Summary:
In the present scientific article the issues related to the development of the economy of experiences, the peculiarities of the cruise tourist program and the analysis of the experiences during the cruises in conditions of sustainable growth of the tourist business are found. In the conditions of a sustainable market (before the COVID-19 crisis) a long-term trend was found according to which the attention of the business is focused on attracting more and more tourists wishing to board a cruise ship, thanks to the wide range of tourist offerings product. The peculiarities and advantages of the cruise casinos are described as the basis for the tourist to choose them as the main object for experience during their cruise tourist program. The limitation of the present study is the period concerning the collapse of the tourist market in all its forms, and in the author’s opinion, after the end of the health crisis the major product of the experiences will restore the interest of consumers to this kind of product.
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Igor Wysocki, Walter E. Block
Caplan on Probability: a Critique
Summary:
This paper addresses economic methodology, focusing particularly on Caplan’s (2003) probabilistic analysis and the problems therewith. The argument launched against Caplan is based on the fact that the said author either violates the rule of self-reference (his methodological statement) rule does not obey the standard it sets itself to judge the lower-level propositions of economics) or if it does not, Caplan is inevitably in the epistemic dark as to the probability of lower-level propositions. In the meantime, we will make an attempt at the exegesis of what Caplan may possibly mean by the notion of probability. Finally, it will be demonstrated that the criticism directed at Caplan does not apply to the methodology employed by Austrian economics.
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Chad Van Schoelandt, Ivan Jankovic, Walter E. Block
Rejoinder on Free Will, Determinism, Libertarianism and Austrian Economics
Summary:
Block (2015) claimed that the free will position is correct, that of determinism incorrect, and that libertarianism and Austrian economics are compatible with the former but not the latter. Edelstein, Wenzel and Salcido (2016) criticized Block (2015) on the grounds that. The present paper is a rejoinder to EWS. It argues that determinism is incorrect; that free will is correct, and that freedom of will is important for both Austrian economics and libertarianism.
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William Barnett Ii, Walter E. Block
Scale of Values Violates Singularism
Summary:
There is at the very least a tension between two basic building blocs of Austrian economics. The doctrine of singularism maintains that choice is inevitably and necessarily between two and only two things: that which is chosen, and the next best alternative, which is set aside. However, implicit in the concept the scale of values is the claim that choice can take place over many, many alternatives. If one of these has to be jettisoned, and we argue that one must be, then we vote for the latter.
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Ankan Dutta
Transformation in Europe & India for their economic growth: key prospects and the untapped opportunities
Summary:
The material put its focus on:
• How India (as EU’s strategic partner) and her SME-s1 are looking into this opportunity to expand into European (including the fast growing Eastern regional) markets of Industrial Technology & Engineering
• The prime indicators from HannoverMesse2 2006 - “The case of Germany”: Doorstep to Europe’ for expanding the base of industrial manufacturing and technology collaborations rapidly.
