Economic Methodology Research Articles

Building upcycling or building reconstruction? The ‘Global Benefit’ perspective to support investment decisions for sustainable cities

Investment decisions on demolition and reconstruction vs. refurbishment of the existing building stock can extend beyond financial and economic criteria. However, they must involve energy savings, environmental preservation, material consumption, and waste management for sustainable cities. The regulatory framework used in the past decades and the correlated research seem more unbalanced toward the containment of building energy consumption than toward embodied energy (EE) management in production processes and environmental impact management. Foreshadowing the perspective of a more restrictive regulatory framework on EE, such as prohibiting the displacement of materials with residual energy potential, such as waste in landfills, some challenging frontier issues are involved when facing the limits of the economic evaluation methodologies for transformation projects. Thus, this study aimed to propose a reasoning and an operative modality to support urban governance policies and investment decisions involving private and public subjects in the construction sector. Circular economy and life cycle thinking principles, through life cycle costing (LCC) and life cycle assessment (LCA), are assumed and harmonized with the discounted cash-flow analysis (DCFA): (1) monetizing and modeling into the DCFA the EE and the embodied carbon (EC); (2) internalizing the Global Cost and the new ‘Global Benefit’ into the net present value (NPV) calculation; and (3) focusing on the residual end-of-life value calculation from the early design and investment decision stages. The reasoning can be extended to single buildings, the urban scale, or even entire portions of existing buildings in urban areas concerning typological sub-segments. The operative modality is yet to be explored in a concrete application for orienting urban governance policies and sustainable public–private partnerships, including environmental and, thus, social externalities even in the private real estate investment decision process, in the scope of evolving regulations.

Bump in energy prices and their impact on natural resources: Energy transition initiatives in OECD countries

Ecosystems and humans suffer from the over-exploitation of natural resources. A growing inequality and environmental crisis demand action, including increasing producer responsibility, extending supply chain legislation, ensuring green public procurement, and promoting circularity. Considering the roles of financial development and international trade, this paper examines whether energy prices and transitions affect natural resources in OECD countries from 1990 to 2020. Our empirical estimates are based on advanced economic methodologies, Fisher effect cointegration, slope heterogeneity, and continuously updated fully modified (CUP-FM) and bias-corrected (CUP-BC) estimators. The result indicates that the increase in energy prices and the transition to a sustainable energy system have improved natural resources. The result suggests that energy and natural resource companies are developing dynamic pricing capabilities to cope with volatility and inflation. Energy and natural resource companies believed inflation would be short-lived, protecting them from price hikes due to their value chain position. Policymakers engaged in green growth strategies should facilitate the transition to green growth. As part of the pricing process, we recommend more pricing. This recommendation does not oppose valuation studies. Rather than addressing the most fundamental issues, much effort has been put into the technical details. Research limitations and future directions are discussed.

Evaluation of Economic-Social Performance of Two Socialist Economic Models: Cuba (Central Plan) and China-Vietnam (Socialist Market)

AbstractThis article compares and evaluates performance of two main current socialist economic-social models. One is Cuba’s central plan characterized by state large enterprises predominant over the market and private property, with mild market-oriented structural reforms that are ineffective in generating sustainable socioeconomic development. The other model is the successful Sino-Vietnamese “socialist market,” typified by small, medium, and some large private enterprises and the market, all predominant under a decentralized plan (a guideline rather than a central plan). In this the state regulates the economy and controls the largest enterprises. The article identifies the characteristics of the three countries, addresses potential barriers to comparison, and summarizes a history of the reforms and their five key economic policies in the three countries. It also assesses performance based on a selection of the twenty most relevant and comparable indicators, elaborates a composite average to rank the three countries, and discusses potential methodological issues. The conclusions summarize the results of the comparison, recommend reforms for Cuba based on successful Sino-Vietnamese policies, and outline the research agenda for the future. The article is an important contribution to the fields of comparative economics systems, socioeconomic development, methodology, and Latin American studies.

Principles of transport means maintenance optimization: equipment cost calculation

Purpose. Justification of principles and methodology for effective calculation of the equipment costs and optimization of transport means maintenance. Methodology. The results of the presented scientific research were obtained using general and special methods of cognition: abstract and logical analysis, systematization and combination, method of theoretical generalization, method of dialectical cognition, deduction and induction, and statistical analysis. This paper analyzes the relationship between the probability of failure prevention by the maintenance system and the associated costs. The research investigates how the variation in the technical condition change rate influences the length of the operation cycle and the rate of its decline. The study’s outcomes are analyzed, including the formation of points of minimum unit costs, the effect of spare parts’ cost, and the practical importance of the conclusions drawn. Findings. This paper outlines the economic methodology for determining the specific expenses of maintaining means of transport. The methodology considers the distribution of expenses for spare parts, labor, and other components. Using this methodology, it is possible to estimate the total costs of maintenance and make informed decisions about the efficient use of resources. It has been determined that the cost of spare parts impacts the efficiency of the maintenance system. Therefore, it is imperative to balance the cost for spare parts and safety, while considering the probability of failure. The method outlined in this work is versatile, which allows its adaptation and application to the specialized road transport. Originality. The paper further develops the methodological approach to calculating equipment costs for transport maintenance, which is used to improve service efficiency and reduce expenses. The approach enables a comprehensive evaluation of the outcomes of enhancing failure prevention probability through the maintenance system. It also aids in managing unused parts’ resources, particularly during short operating cycles. Practical value. The study’s findings can optimize the maintenance system, increase operational efficiency, and enhance the safety and reliability of means of transport, while reducing the costs associated with spare parts, labor, and other maintenance components. This approach aids in conserving resources, reducing operating costs, and is crucial for the financial stability and profitability of management companies.

Methods for Economic Evaluations of Novel Oral Anticoagulants in Patients with Atrial Fibrillation: A Systematic Review.

Atrial fibrillation (AF) is a severe epidemiological and public health concern among the elderly population worldwide, with substantial economic and social burdens. Economic evaluations can play an essential role in optimizing the utilization of scarce resources. In recent years, the number of economic evaluation studies related to AF has increased due to the rising number of AF patients, the continuous updating of clinical data, and the emergence of real-world evidence. However, there are still deficiencies in model settings and parameter sources in relevant studies. This study aims to review the existing economic evaluations of novel oral anticoagulants (NOACs) in patients with AF and summarize the evidence and methods applied. A comprehensive and systematic search was conducted on electronic databases, including PubMed, Embase, Web of Science (WOS), and The Cochrane Library, from the date of database creation to November 2022. The reporting quality of included literature was assessed using the Consolidated Health Economic Evaluation Reporting Standards 2022 (CHEERS 2022) statement. A total of 102 studies were included in the review, with 200 comparisons between NOACs and vitamin K antagonists (VKAs), as well as 58 comparisons between different NOACs. The healthcare sector and payer perspectives were the most common, and accordingly, the majority of the evaluations considered only direct medical costs. Most studies used Markov cohort models with the number of health states ranging from 4 to 29. Of included studies, 80 (78%) considered event recurrence and complications, and 78 (76%) considered discontinuation and second-line therapy. All of the studies applied uncertainty analysis to explore the robustness of the results. Of all 200 NOACs-VKAs comparisons, 149 (75%) showed that NOACs were more cost-effective; this proportion was 84% (139 out of 165) in high-income countries but decreased to 29% (10 out of 35) in middle- and low-income countries. Most (82%) of the 28 items in the CHEERS 2022 checklist were elucidated in the majority of included studies. A minority (only 39%) of included studies demonstrated high reporting quality. NOACs may be more cost-effective than VKAs in patients with AF, but this conclusion applies to high-income countries, whereas VKAs may be more cost-effective in middle- and low-income countries. The reporting quality of included studies was variable, and certain methodological issues were presented. This study highlights the economic evaluation methodology of NOACs in patients with AF and provides recommendations for modeling methods and future studies.

Reflections on the intersection between economic and legal measures of pass-on in the context of competition litigation

The right to compensatory damages and the principle of effectiveness are important legal principles shaping the private enforcement of competition law across the UK and EU. However, the issue of pass-on of loss gives rise to potential tensions in the application of these principles. Where the effect of an infringement is passed on and dissipates broadly across the downstream economy, courts are left with a choice between over-compensating a direct claimant (who has passed on all or some of an overcharge) or waiting for a nebulous group of downstream claims (by final consumers) that may not materialize. Pass-on also creates problems of consistency between claims at different levels of the same value chain in which different information may be available, different methods of calculating loss may be applied, and different answers reached. This article provides some economic reflections on these challenges. It concludes that there is no single economic framework or methodology available that avoids these tensions, and procedural innovations that allow multiple levels of the value chain to be considered in a single process are likely to be needed if the principles of compensation and effectiveness are going to continue to be applied.

JOCRISE Paradigm, Methodology & Economics

JOCRISE is embarked upon a project of universal, even cosmic, significance. 
 Rejecting the outdated, inaccurate and static understanding of reality which underlies mainstream economics, the Paradigm provides a new, accurate and dynamic understanding of our changing world. 
 The new understanding is not reductionist and encompasses many subjects (including history, sociology, psychology, religion, environment, anthropology, technology and epistemology). The result is an ability to find solutions for major global problems (e.g., persistent poverty, depletion of resources and environmental depredation) which, at present, appear to be insoluble.
 The Paradigm’s potency is comparable to that of the Copernican Revolution which overthrew the concept of an Earth-centred universe and replaced it by a sun-centred one with consequences including today’s political democracy (i.e., the vote) as well as modern astronomy and rocketry.
 Just as the Revolution introduced a new methodology for astronomy, so the Paradigm introduces a new Methodology for economics which:-
 
 establishes that mainstream economics is founded upon fifty nine false, outdated, interconnected assumptions about reality
 reverses the false assumptions whereon the reversals (or opposites) are easily seen to be true and can therefore form the components of the new Economics with hugely beneficial consequences.
 
 The ‘Great Reset’ is a phrase describing the proposals of the World Economic Forum which will concentrate all economic power into the hands of the few rather than putting economic power into the hands of the many.
 The Paradigm has areas needing development (see Appendix Two). Readers are encouraged to make the development and so forward the progress of the Paradigm as a whole.

Ideas, Virtues and the Bourgeois Deal: McCloskey’s Rhetoric of Economics Reasserted

Deirdre N. McCloskey’s contributions to Economics cover a wide range of topics, includingstudies in Economic History, Methodology, Language and Ethics. Her most recentcollection of studies, the Bourgeois Trilogy (2006, 2010a and 2016a), substantiates thisinterdisciplinarity by bringing these fields together to reassess the history of the ModernWorld. The following paper aims to investigate how McCloskey’s interest in the rhetoricof economics impacts her reading that the Modern World rose thanks to a rhetoricalchange, known as the Bourgeois Deal, and its virtues. The discussion will fundamentallybe around the ideas expressed in The Rhetoric of Economics (1983 and 1998a) and in theBourgeois Trilogy, besides other correlated works. We believe that her studies about theRhetoric in economics and its importance for the scientific method have a fundamentalinfluence on the research structure regarding the Trilogy. Even further, our argumentemphasizes that the Bourgeois Virtues alongside Rhetoric have not only a methodologicalsense, but also an ethical one, highlighting McCloskey’s appeal to a more humane, liberaland bourgeois economics.

Development of Methods for an Overhead Cable Health Index Evaluation That Considers Economic Feasibility

To supply stable and high-quality power according to the advancement of industrial growth, electric power companies have performed maintenance of power facilities using various methods. In the case of domestic power distribution facilities, there are limitations in performing diagnostic management on all facilities owing to the large number of facilities; therefore, old facilities are managed using the health index assessment method. The health index assessment comprises only facility operation data and external environmental data and is managed only for four types of distribution facilities including overhead/underground transformers and switchgears. In the case of high voltage overhead lines, there are a large number of wires such as transformers and switchgears connected to the lines, and the ripple effect of power outages is large. However, in Korea, there is no overhead line health index standard. In overseas cases, a health index for overhead lines was developed, but only the material characteristics and surrounding environment of the overhead lines were considered and economic feasibility was not considered. Therefore, in this paper, we developed a health index evaluation methodology for ultra-high voltage overhead lines that considers economic feasibility. In this paper, unlike the existing health index evaluation method that uses only operational data and external environmental data to determine facility performance evaluation and aging replacement standards, we developed an economic health index evaluation methodology that additionally considers failure probability and risk costs. Using the health index assessment methodology developed in this paper, it is possible to expect a reduction in facility operating costs and investment costs from the perspective of the electric power companies through the replacement of old extra-high voltage overhead cables. In addition, from the perspective of consumers, it is expected to increase power reliability and reduce the ripple effect of failure by preferentially replacing equipment with a high probability of failure.

Critical Examination of the Scope and Methodology of Water Resources Economics, Accounting and Auditing

The paper is central on accounting for water use and productivity water to improve water savings from accountability to sustainability. It critically examination of the scope and methodology of water resources economics, accounting and auditing. This paper presents a conceptual framework for water accounting and provides generic terminologies and procedures to describe the status of water resource use and consequences of water resources related actions. The exploratory study involves Water resources economics, water scarcity in economic theory, water accounting frameworks, water accounts, water consumption and water use, water valuation, water accounting and ‘water budgets’, water balance approach, water accounting plus (Wa+) and water accounting using remote sensing. Water accounting is a method of organising and presenting information relating to the physical volumes of water in the environment and economy as well as the economic aspects of water supply and use. The framework applies to water resource use at three levels of analysis: a use level such as an irrigated field or household, a service level such as an irrigation or water supply system, and a water basin level that may include several uses. An increase in water demands, exacerbated by climate change and the tightening of environmental requirements, leads to a reduction in available water resources for economic uses. This situation poses challenges for water resource planning and management. Water accounting has emerged as an appropriate tool to improve transparency and control in water management. There are multiple water accounting approaches, but they generally involve a very exhaustive list of accounted concepts.

Economics for an uncertain world

Uncertainty, where we do not know the likelihood of future events, dominates our world. This article examines how economics as a profession and discipline can address uncertainty. From Frank Knight to John Maynard Keynes to Friedrich von Hayek to George Shackle, economics has highlighted the importance of uncertain knowledge and distinguished this from calculable risk. In this article we show how such insights were lost through the rise of narrow neoclassical thinking and were excluded through the emergence of a dominant economics of control that rose to prominence during the twentieth century and especially in the neoliberal era. However, through a range of perspectives in economics that emphasise the importance of complexity, informality, positionality and narratives, uncertainty is once again being embraced within an increasingly heterodox economics. In many ways, this chimes with the work of Albert Hirschman who, starting from the mid-1960s, emphasised the importance of addressing uncertainty in development theory and practice. Through two examples on pastoral development and global financial governance, we highlight the continued relevance of Hirschman’s thinking on the importance of adaptation, flexibility and learning-by-doing as responses to uncertainty and for the development of reliable, robust approaches to development policy and practice. In conclusion, we argue that economics theory, methodologies, professional practice and training need to change, recovering some of the insights from previous generations of economic thinkers and practitioners, in order to reinvent an economics appropriate for our uncertain world.

Selection homophily and peer influence for adolescents’ smoking and vaping norms and outcomes in high and middle-income settings

The MECHANISMS study investigates how social norms for adolescent smoking and vaping are transmitted through school friendship networks, and is the first study to use behavioral economics methodology to assess smoking-related social norms. Here, we investigate the effects of selection homophily (the tendency to form friendships with similar peers) and peer influence (a social process whereby an individual’s behavior or attitudes are affected by peers acting as reference points for the individual) on experimentally measured smoking and vaping norms, and other smoking outcomes, in adolescents from high and middle-income settings. Full school year groups in six secondary schools in Northern Ireland (United Kingdom) and six secondary schools in Bogotá (Colombia) participated (n = 1344/1444, participation = 93.1%, target age 12–13 years). Over one semester, pupils received one previously tested school-based smoking prevention program (ASSIST or Dead Cool). Outcomes included experimentally measured smoking/vaping norms, self-report and objectively measured smoking behavior, and self-report smoking norms, intentions, susceptibility, attitudes, and psycho-social antecedents. We investigated selection homophily and peer influence using regressions and SIENA modeling. Regression results demonstrate lagged and contemporaneous selection homophily (odds ratios [ORs] = 0.87–1.26, p ≤ 0.01), and peer influence effects for various outcomes from average responses of friends, school classes, or school year groups (standardized coefficients [βs] = 0.07–0.55, ORs = 1.14–1.31, p ≤ 0.01). SIENA models showed that comparable proportions of smoking/vaping-based similarity between friends were due to selection homophily (32.8%) and peer influence (39.2%). A higher percentage of similarity between friends was due to selection homophily and/or peer influence for ASSIST schools compared to Dead Cool. Selection homophily was also more important in Bogotá, whilst peer influence was stronger in Northern Ireland. These findings support using social norms strategies in adolescent smoking prevention interventions. Future research should consider selection homophily and social influence jointly, and examine whether these findings translate to other high and low-middle-income settings with varying cultures and norms.

Facile synthesis of excellent Fe3O4@starch-derived carbon Photo-Fenton catalyst for tetracycline degradation: Rapid Fe3+/Fe2+ circulation under visible light condition

Photoinduction is widely used to accelerate the Fe3+/Fe2+ circulation in Fe3+/H2O2 Fenton oxidation, however, the remained challenges in developing a facile, economical, and efficient synthetic methodology for the preparation of high-performance Fe-based Photo-Fenton catalyst and inevitably forming iron sludge limit its applications. Herein, starch-derived carbon (SC) encapsulated Fe3O4 (Fe3O4@SC) magnetic nanocomposites are synthesized by mechanical activation treatment combined with high-temperature pyrolysis method using cassava starch as the carbon source. The photoelectrochemical properties of Fe3O4@SC are regulated by COFe bonds and oxygen vacancies in Fe3O4@SC, as well as graphitization of SC, which effectively accelerate the Fe3+/Fe2+ circulation in Fe3O4@SC + H2O2 system under visible light, thus Fe3O4@SC shows excellent catalytic performance and superior stability for the degradation of tetracycline hydrochloride, and the initiation rate constant is 2.4 times higher than that in dark. Moreover, quenching experiments and electron spin resonance results confirm that OH, O2−, and h+ (OH plays a critical role) are generated in the catalytic system of Fe3O4@SC + H2O2 + visible light. This work provides new insights into a green and facile approach for the synthesis of Photo-Fenton catalysts, providing new avenue for the acceleration of Fe3+/Fe2+ cycle under visible light-driven Fenton process.

Mapping the potential for pumped storage using existing lower reservoirs

The increasing utilization of wind and solar power sources to lower CO2 emissions in the electric sector is causing a growing disparity between electricity supply and demand. Consequently, there is a heightened interest in affordable energy storage solutions to address this issue. Pumped Hydropower Storage (PHS) emerges as a promising option, capable of providing both short and long-term energy storage at a reasonable cost, while also offering the advantage of freshwater storage. To identify potential PHS locations in Brazil existing hydroelectric reservoirs as the lower reservoirs, we employed an innovative methodology that combines (i) plant-siting model that leverages high-resolution topographical and hydrological data to identify the most promising sites for further studies. (ii) An economic methodology was applied to configure PSH projects identified by the plant-siting model in terms of their installed capacity and discharge time, and to select the most attractive projects. (iii) A comprehensive analysis of the socio-environmental impacts of the projects was carried out, which enables the elimination of projects with severe impacts. Results created a ranking of 5600 mutually exclusive projects by net present value (NPV). The highest NPV is 2145 USD which refers to a PHS plant in the Doce Basin and Salto Grande dam as the lower reservoir. The upper reservoir stores 0.36 km3 of water and a 75 m high dam, the PHS has a 2 km tunnel, a 1 GW power capacity and discharge rate of 220 h. The paper shows a vast potential for weekly, monthly, and seasonal PHS with existing lower reservoirs in Brazil.

Hansen Solubility Parameters and QbD-Oriented HPLC Method Development and Validation for Dermatokinetic Study of a Miconazole-Loaded Cationic Nanoemulsion in Rat Model.

Miconazole (MCZ) is a potential antifungal drug to treat skin infections caused by Candida, Tinea pedis (athlete's foot fungal infection), Tinea cruris (jock itching in the groin and buttocks), and Tinea corporis (red scaly rash on the skin). The current study focused on Hansen parameter-based solvent selection (HSPiP software) and method development optimization using an experimental design tool for sensitive, accurate, reproducible, economic, rapid, robust, and precise methodology to quantify MCZ in rat plasma. Moreover, a Taguchi design was used for screening two independent factors (flow rate and ACN content). Quality by design (QbD) was employed to optimize and identify the right ratio of mobile phase composition and its impact on the peak and retention time. The elution of MCZ was achieved using methanol and acetonitrile (15:85 v/v ratio) at a retention time of 6 min and optimal flow rate (1 mL/min). Finally, the method was validated based on accuracy, precision, linearity, selectiveness, and high recovery at varied concentrations as per the International Council for Harmonization (ICH) guidelines. The method was linear (r2 = 0.999) over the explored concentration range (250-2000 ng/mL) at 270 nm detection wavelength. The optimized method was used to quantify in vivo pharmacokinetic (PK) study after transdermal application of MCZ-loaded formulations (MCNE11, MNE11, MCZ-Sol, and MCZ-MKT). HSP-oriented solvent selection and quality by design-based optimized process variables and composition in the optimized analytical methodology were quite convincing and have been a cutting-edge MCZ analysis method so far. The validated method was robust, economic, and rapid with high specificity and selectivity.

РАЗВИТИЕ ИССЛЕДОВАНИЙ КАЧЕСТВА ЖИЗНИ НАСЕЛЕНИЯ СЕВЕРО-ЗАПАДА НА ОСНОВЕ ПРИМЕНЕНИЯ МЕТОДОЛОГИИ ЭКОНОМИКИ КАЧЕСТВА

The article shows the problem of the scientific base forming for systematic comprehensive quality of life studies at the regional level to be provided, which is also relevant for the purposes of strategic planning and management. A meaningful research analysis of the quality of life at the regional level is carried out, the advantages and disadvantages of rating assessments are shown, the methodological basis for obtaining scientifically proven results of assessing and analyzing region’s quality of life is disclosed. The field of theoretical studies of the Northwestern Federal District population’s quality of life is characterized by substantial and methodological gaps that are evidenced by presented in the article results of a comparative analysis of Russian quality of life studies that are conducted at the regional level. In this regard, the application of quality economics methodology in order to achieve the set goals of regional development is proposed. The application of a multi-level quality management system for solving promising tasks and improving the quality of life in the region is justified. There are also recommendations on the Methodology application developed by the authors for assessing the quality of life that is built on the conceptual basis of the quality economy for assessing and analyzing the quality of life of the Northwestern Federal District.

Natural and Synthetic Polymeric Biomaterials for Application in Wound Management.

Biomaterials are at the forefront of the future, finding a variety of applications in the biomedical field, especially in wound healing, thanks to their biocompatible and biodegradable properties. Wounds spontaneously try to heal through a series of interconnected processes involving several initiators and mediators such as cytokines, macrophages, and fibroblasts. The combination of biopolymers with wound healing properties may provide opportunities to synthesize matrices that stimulate and trigger target cell responses crucial to the healing process. This review outlines the optimal management and care required for wound treatment with a special focus on biopolymers, drug-delivery systems, and nanotechnologies used for enhanced wound healing applications. Researchers have utilized a range of techniques to produce wound dressings, leading to products with different characteristics. Each method comes with its unique strengths and limitations, which are important to consider. The future trajectory in wound dressing advancement should prioritize economical and eco-friendly methodologies, along with improving the efficacy of constituent materials. The aim of this work is to give researchers the possibility to evaluate the proper materials for wound dressing preparation and to better understand the optimal synthesis conditions as well as the most effective bioactive molecules to load.

Changing perceptions about experimentation in economics: 50 years of evidence from principles textbooks

Traditionally, economists often argued experiments play little or no useful role in our science. This paper employs a novel approach to track the historical evolution of this doctrine from 1970 to 2019, by constructing a dataset of 278 introductory economics textbooks. Quantitative and qualitative analysis shows that anti-experimental views were dominant and largely unchanged until 2000, but there has since been a trend towards textbooks making positive statements about experimentation. However, remarks that economic experiments are impossible have been (almost) eliminated only in the last decade, evidencing a sluggish change in perceptions. Supplementary interviews with key textbook authors confirm the historical trend of increased enthusiasm towards experiments, and suggest they are now accepted within the economic mainstream. Our findings hold important implications for how the empirical methodology of economics is understood by practitioners and students.

The Politics and Economics of Brazilian Competition Law

Against the renewed international debate on the relationship between competition law and wider social and economic goals, this paper examines the underpinnings of Brazilian competition law. It describes the evolution of the law against the backdrop of the wider transformations in capitalism, and reveals how legal, political, and economic disputes – both domestically and internationally – have shaped its design and implementation. The paper argues that while the foundation of modern Brazilian competition law can be found in a progressive Constitution and in principles that guide the economic order towards the promotion of substantive justice, competition enforcement and scholarship in Brazil have been gradually decoupled from the promotion of socioeconomic rights. This insulation of Brazilian competition practice from wider socio-political concerns was deeply influenced by the epistemological assumptions and the economic methodology of the Chicago School, that have directed competition – in the US and in other jurisdictions – towards formalist notions of efficiency.

Victoria Chick (1936-2023): an eminent post-Keynesian scholar – some retrospective remarks

For most heterodox economists Victoria Chick stands out as one of the most respected and knowledgeable Post-Keynesian scholars. As such, she has for decades been writing on the economics and methodology of Keynes, on trying to take inspiration from him when analysing important macroeconomic problems of modern times and on the importance of adopting an open system approach when analysing such matters. In this short article, the focus is primarily on Victoria Chick´s work on economic methodology. She argued that methodology should be taken seriously - You cannot simple just do economics. You must consider how to do economics.
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