Not guilty? : agriculture in the 1920s and the Great Depression

Agricultural distress in the 1920s is routinely quoted among the causes of the Great Depression. This paper challenges the conventional wisdom. World agriculture was not plagued by overproduction and falling terms of trade. The indebtedness of American farmers, a legacy of the boom years 1919-1921, did jeopardize the rural banks, but the relation between their crises, the banking panic of 1930 and the Great Depression is tenuous at bes

The Beat of the Economic Heart: Joseph Schumpeter and Arthur Spiethoff on Business Cycles

The paper discusses the relationship between Arthur Spiethoff and Joseph A. Schumpeter, the men and their works. Had it not been for Spiethoff Schumpeter would in all probability have forever been lost to scientific work. It was Spiethoff who brought the Austrian back to academia and research after a sequence of serious mishaps in politics and banking. Spiethoff's contribution to an analysis of business cycles is then summarized and important similarities and some differences between it and Schumpeter's are pointed out. The view of Spiethoff and Schumpeter that cycles are endogenous and cannot possibly be eliminated without at the same time eliminating the dynamism of the capitalist economy is then couterposed with views of some of their contemporaries and particularly modern mainstream macroeconomics that this is not so.Schumpeter; Spiethoff; business cycles; innovations; creative destruction

Constant Capital and the Crisis in Contemporary Capitalism: Echoes from the Late Nineteenth Century

Because constant capital involves irreversible decisions, understanding this subject is essential for coming to grips with the complexity of the economy, especially crisis theory. This paper attempts to show how both Marx and late 19th century neoclassical economists in the United States realized that the relative growth of constant capital made competitive economies unsustainable.

Promoting Agricultural Entrepreneurs against Food Shortage, Overproduction and Protectionism in Northern Africa and Other Regions of the World - A Critique to Nobel Laureate Schultz and Nominee Hirschman

Paper presented at the International Conference of 'Entrepreneurship and Land and Rural Development' Faculty of Economic and Management Sciences, University of AbouBekr BELKAID TLEMCEN Tlemcen, Algeria, 3-4 December 2008Agribusiness, International Relations/Trade,

The quantitative approach to business cycle in « X-Crise » group in the 1930's

To construct models and to apply quantitative techniques in order to explain the cyclical movements of the economy is one of the main aims of “X-Crise” group (nickname of “Centre Polytechnicien d'Etudes Economiques”) at the “Ecole Polytechnique” in Paris. Indeed, french polytechniciens' engineers hope that mathematical economics, and especially empirically based modelization, will be helpful first to build a true economic science, and second, to find solutions to the 1930's crisis. These hopes are developed in the methodological debate that Polytechniciens began even before the creation of the association X-Crise. They explain in particular their rejection of "pure” economics and their defence of an approach which mixes economic concepts, statistical facts and mathematical model – such as econometrics. Overall, these hopes are expressed through models constructed by X-Crise members, such as Polytechniciens like François Moch and Maurice Potron or non-polytechniciens like brothers Georges and Edouard Guillaume. Attempts were done to include business cycle in their models. But, finally, they failed to confront them to empirical data.French Engineers - Business Cycles - history of econometrics

Thermal leptogenesis in extended supersymmetric seesaw

We consider an extended supersymmetric SO(10) seesaw model with only doublet Higgs scalars, in which neutrino masses are suppressed by the scale of D-parity violation. Leptogenesis can occur at the TeV scale through the decay of a singlet Sigma, thereby avoiding the gravitino crisis. Washout of the asymmetry can be effectively suppressed by the absence of direct couplings of Sigma to leptons.Comment: 4 pages, 5 figure

Economic distress and discourse : the rise of a corporatist rhetoric in Northern Spain after World War I

The paper explores the relationship between language and economy, between text and context, through a case study: the Basque region in northern Spain during World War I and the immediate postwar years. Using some tools of quantitative and qualitative analysis, I try to dissect the process of production and interpretation of the corporatist discourse, and then relate it to the evolution of the economy and the interests of the local economic elites. Contrary to the widespread Foucaldian theory, which focuses on the intrinsic structure of discourse, the results suggest that more attention should be paid to the context in explaining the process of discourse production.Economic crisis, Discourse, Language, Communication, Economic elites, Political economy, Rhetoric, Corporatism, World War I, Spain

Not guilty? Agriculture in the 1920s and the Great Depression

Agricultural distress in the 1920s is routinely quoted among the causes of the Great Depression. This paper challenges the conventional wisdom. World agriculture was not plagued by overproduction and falling terms of trade. The indebtedness of American farmers, a legacy of the boom years 1919-1921, did jeopardize the rural banks, but the relation between their crises, the banking panic of 1930 and the Great Depression is tenuous at best.