Neoclassical Principles Research Articles

A Dynamic CGE Model for Optimization in Business Analytics: Simulating the Impact of Investment Shocks

This study formulates a mathematical dynamic Computable General Equilibrium (CGE) model within a rational expectations framework, adhering to neo-classical principles. It emphasizes the significant role of agents’ expectations in determining the broader economic trajectory over time. The model combines microeconomic and macroeconomic perspectives by merging the concept of intertemporal choice with savings behavior. Its mathematical foundations are derived and calibrated using data from a social accounting matrix to enhance its simulation capabilities. The paper presents a practical simulation investigating the economic implications of a strategic investment impact within an specific European region, Madrid as the case of study. Such demand shock affects sectors such as electronics, food, pharmaceuticals, and education. The study models the long-term effects of heightened investment and persistent demand-side shocks. The research demonstrates the CGE model’s ability to forecast economic shifts toward a new equilibrium after an investment shock, proving its utility for assessing the impacts of extensive environmental policies within a European context. The work’s originality lies in its detailed mathematical formulation, contributing to theoretical discourse and practical application in business analytics.

The classical and neoclassical perspectives: A theoretical framework for studying the advent and growth of mobile money—The Tanzanian experience

AbstractThe article addresses the need for comprehensive analytical frameworks or perspectives in mobile money research. It also proposes and develops a conceptual framework utilizing classical and neoclassical perspectives. The interdisciplinary nature of mobile money studies and the need for robust analytical frameworks or perspectives pose a significant challenge to researchers, creating a political‐economic gap in analyzing mobile money. In this case, classical and neoclassical mindsets bridge this gap in mobile money analysis. Moreover, the article also addresses the following research question: How have classical and neoclassical perspectives influenced the emergence and growth of mobile money in Tanzania throughout the past 15 years? The argument posits that implementing and dismantling neoliberal policies have facilitated the introduction and advancement of mobile money, drawing upon classical and neoclassical principles. In‐depth, unstructured interviews and content analysis from relevant and scholarly sources have been used as data collection methods. Thematic analysis has also been used for data analysis. The findings indicate that researchers can rely on classical and neoclassical perspectives to analyze mobile money's advent, growth, and consolidation. The implications are that classical and neoclassical perspectives provide a context and a unit of analysis that can be used to study the political‐economic issues of mobile money and other digital financial innovations.

ЗАРОДЖЕННЯ НЕОКЛАСИЦИЗМУ В УКРАЇНІ. НЕОКЛАСИЦИЗМ В ХОРЕОГРАФІЇ, МУЗИЧНОМУ МИСТЕЦТВІ, ЛІТЕРАТУРІ І ДРАМАТУРГІЇ

The article examines the process of origin and formation of the Neoclassicism era in the Ukrainian art. Сultural processes of different types of art of Ukraine of the end of XX – the beginning of XXI century are investigated. the chronological boundaries of the neoclassical epoch in the countries of Europe and Ukraine are compared, their difference is determined. It provides a brief overview of the historical situation that led to the later flowering of neoclassicism. Features of neoclassicism in music, literature, drama and choreography are considered. In particular, the works of Ukrainian neoclassical writers as M. Zerov, M. Drai-Khmara, P. Phylypovych, M. Rylsky, Y.Klen, who entered the society of prosaics and poets «Kyiv Neoclacissist», are briefly characterized. The main goal of the Ukrainian neoclassical literature is outlined namely by researching authentic Ukrainian literature and assimilating the best European literary samples to create own unique literary forms. The musical neoclassical art is analysed, in particular, the essence of the concept "neofolklorism" is revealed (laying certain neoclassical principles on folklore motives, M. Skoryk’s oeuvre as an example). Problematic issues regarding the development of neoclassical drama in Ukraine arise, modern Ukrainian drama is considered in the context of economic market. The problem of Ukrainian drama’s competitive ability and possible conditions for this are analysed. Neoclassical choreographic art is studied, namely its characteristic features, directions, forms. The plot and non-plot neoclassical performances are compared; genres of post-neoclassical performances are listed. Non-plot ballet neoclassicism that originates from American choreographer J. Balanchyn’s oeuvre is created by using jazz and modern dancing means of expression and forms. Plot ballet neoclassicism originates from F. Ashton’s oeuvre and has Anglo-French origin. The main characteristics of the plot neoclassical performance are complicated ballet terminology, increasing of attention to dramatically or literary plot, the presence of realistic, expressionistic and surreal principles, using the pantomime, modern, jazz, popular, folklore dancing means of expression, dance symphony and academic ballet principles.

William Temple’s ‘Sharawadji’ and the poetics of world literature

The article examines the ‘active presence’ (D. Damrosch) of the Chinese garden in the literary and cultural history of the English Augustan Age. Special attention is paid to W. Temple’s role as an intermediary in the comprehension of a foreign cultural phenomenon; interpretations of his description of the Chinese garden generated an entirely new tradition in the English literature of the early 18th c. J. Addison identified the Chinese garden with the idea of harmony, making it part and parcel of Neoclassical aesthetics. Pope followed the same logic. In his essay, Castell brings together the classical and the Chinese traditions, where the former does not act as an approving authority, rather it is the Chinese tradition that helps give it a more nuanced description. Quite a few English country homes display a combination of Neoclassical principles and elements of the Chinese garden, the new landscaping style summarized by Pope. Augustans’ Chinese garden draws on two national worldviews, but just like the world ‘sharawadji’ introduced byTemple, it belongs to the realm of imagination, at the crossroads of languages and cultures, none of which can fully claim it as their own.

The originality of neoclassic principles reflection in the Sonata for two pianos by Paul Hindemith

Background. The neoclassicism of the first decades of the 20th century turned to be a kind of opposition to atonalism, which captured many radical composers. The supposed “bilingualism” of neoclassicism opened wide perspectives for individual concepts realization, broadening the boundaries of new knowledge of the Baroque and early classicism. Instrumental sonata, including the Sonata for Two Pianos naturally entered the neoclassical trend mainstream in a number of others, non-symphonic classical and romantic genres, compensating for the rejection of effective dramaturgy by enhancing the contrast between the cycle’s parts, thus tending to Baroque cyclic compositions. For Paul Hindemith, whose name is always associated with this art movement, “communication” with musical past was not an instant hobby but something that determined the focus of his creative thought. Objectives. The article’s purpose is to reveal the peculiarity of neoclassic principles embodiment in the Sonata for Two Pianos by P. Hindemith, to consider its composition, semantic and structural units. Methods. The study’s methodology is based on historicism principle, which involves the study of artistic phenomena being connected with the established musical art experience, and a comprehensive approach that allows involving of different methods of music analysis. Results. Sonata for Two Pianos (1942) consists of five movements; each one has its name. P. Hindemith’s individual approach to the sonata genre is usually evaluated in terms of the artist’s refusal of traditional composition, changes in sonata form, which often includes dramatic function changing. This is due to the desire to make equal all the forms involved in the cycle, in particular the most important polyphonic ones. The movements’ names “The Bells”, “Allegro”, “Canon”, “Recitative”, “Fugue” reveal the suite’s features. “The Bells” opening the cycle show a wide range of musical associations: from French harpsichordists gravitating to sound expression to representatives of different national cultures of the 20th century. The textured thematic drawing of the part reveals another modus of play with tradition expressing itself in improvisational principle domination and Baroque fantasy revival. The Old English verse text preceding “Recitative” reminds of 16–17th century program compositions and shows connection with opera art. “Recitative” combines concise musical phrases typical for Baroque culture vocal genres and typical rhythm formulas that embody the freedom of language intonation and bring in improvisation and allusion on basso continuo. The reference to Baroque era polyphony is evidenced by “Canon” and “Fugue”. In the “Canon”, polyphonic interaction is reached by two piano parties and not by individual voices of the four-voice ensemble texture. The slow tempo Lento, the static movement of musical thought, where “step” pulsation is felt in 4/8 metrics, unusual for classic and romantic culture, the predominance of quiet sound implies tragic pathetic element in “Recitative”. These two parts, “Canon” and “Recitative”, constitute a complementary semantic pair as play modes of tragic imagery embodiment through Baroque era high style, its objective and subjective beginnings. Actually, sonata genre is represented only by the second part “Allegro” with its fast tempo, clarity of form, volitional character of the main theme, scherzo grace of the subsidiary theme, large coda. The composer maintains contrast method choosing his complex of expressive means for each exposition sections. The Sonata is finished by a grand three-theme fugue with metro-rhythmic design associated with the corresponding polyphonic music structures, and more, the initial fifth step corresponds to J. S. Bach’s “Fugue Art”. The first theme’s imperative character establishes the dramatic imagery as fundamental in Sonata’s artistic concept. Its intonational content is characterized by fourth and fifth interval structures, some of them are creating the frame of the whole cycle. The second theme is more melodic and contrasting. The bass register of the third theme in rhythmic augmentation, the wave-like pattern of its melodic line covering the range of the diminished octave, is perceived as embodying of the modern thinking tension, the “echo” of Baroque era aesthetic ideas. The artistic idea of the Sonata for Two Pianos by P. Hindemith is built on drama concentration, overcoming suite separation of the parts and reflecting the full life realities and the inviolability of Universe laws. Conclusions. Sonata for Two Pianos by P. Hindemith returns to its origins thanks to the 20th century artists’ interest to the Baroque culture, demonstrating irregular genre boundaries and the ability to maintain high polyphony means, unregulated cycle and synthesis of several compositional principles within one work. The neoclassical principles did not deprive the Sonata of being presented in that time’s social and spiritual events, and allowed it to generalize modern world conflicts with the help of established semantic and compositional units. Thus, P. Hindemith’s Sonata for Two Pianos preserves its own approach to musical experience and possibilities of ensemble technique distinguished in almost full absence of performing competition idea, dialogism in its traditional reflection while retaining the parties’ equality.

Maffeo Pantaleoni on labour exchange: bridge between neoclassicism and Fascism

This article examines Maffeo Pantaleoni’s views on labour exchange and their transition. Pantaleoni’s theory shared the neo-classicist antinomy that, despite the emphasis on agent subjectivity, disregarded the variability in the content of labour resulting from worker subjectivity towards labour performance and employer countermeasures. Consequently, Pantaleoni espoused the neoclassical principle that takes for granted the market determination of capitalistic labour exchange without socio-political intervention. The transition of Pantaleoni’s outlook on actual labour issues reflected the gulf between his faith in this principle and realities. Thus, Pantaleoni’s perspective on labour exchange functioned as a bridge between neoclassicism and Fascism.

Business strategy and firm location decisions: testing traditional and modern methods

For nearly a century, economists have relied upon the neoclassical principle of a “profit-maximizing firm.” Two modern challenges to this principle have arisen: the theory of the value-maximizing firm, and machine learning. In this article, we empirically compare the predictive power of both traditional and modern approaches to business decisions. To do so, we make use of an unusual natural experiment, and extensive data, as follows: (1) Outline competing models of business decision making from both traditional and modern approaches: Expert judgement; an income model of a profit-maximizing firm; a suite of machine learning models; and a recursive model of a value-maximizing firm. (2) Assemble data on costs, productivity, workforce, transit, and other factors for over 50 large North American cities. (3) Empirically compare these models to determine which best explains the selection of 20 cities by Amazon Inc. for its “HQ2.” We observe first that expert judgement, of the type traditionally performed by business economists, outperformed all other approaches. Second, we observe that “supervised learning” machine learning models performed poorly, with results that were often worse than a coin flip. Third, we found that the model of a value-maximizing firm slightly outperformed an income model using the same underlying data, and handily outperformed machine learning. Based on these results, we conclude that expert human judgement remains superior over machine learning methods, and warns against naive reliance on such models when the penalty for an incorrect decision is high. We also recommend that businesses economists consider value methods for business strategy decisions.

John Bates Clark: the first American marginalist as a social economist

We analyze the content of four articles by John Bates Clark published between 1878 and 1887, during his Christian Socialist period in order to show that next to the marginalist Clark and beyond the neoclassical principles outlined in The Distribution of Wealth, the whole Clark’s work is a strongly coherent body, deeply rooted in positions less extreme than the ones held by more reformer-minded economists like Richard T. Ely or John R. Commons containing an array of different contributions to political economy displaying a certain originality and coherence, and enrolling in a thematic environment that today would be broadly defined as social economy. In particular, the main ideas emerging from this selection of papers are his organismic idea of society, the role of moral forces in shaping economic activity, and his promotion of profit sharing and cooperation as better regimes for production and distribution with respect to competition.

ANTHROPOLOGY AND BUSINESS MANAGEMENT-TOOL TO ATTAIN COMPETITIVE ADVANTAGE

The recent past has witnessed a trajectory in terms of growth of anthropology as a discipline along with its application in various fields. One of the most talked about fields of applied anthropology is anthropology in business or business anthropology. The world has recognised that business is not just an economic activity but an activity which has a human angle hence neo-classical principles have replaced the classical thought. More and more organizations are embracing research to understand the people side of business. For this, anthropologists are being hired to investigate vital processes such as organization policies, design, culture, leadership, consumer behavior, and so on. The present article discusses the concept and meaning of this newly-arrived discipline of anthropology, followed by its contribution to business in the present century. Further, it also elaborates the relevance of business anthropology, the practical issues faced in its implementation, and its emerging fields.

Classical Liberalism: The Foundation for a New Economics?

ABSTRACTIn Robust Political Economy, Mark Pennington argues for a minimal state founded not on neoclassical economic principles but on a return to classical liberalism. Pennington makes his case on the basis of Hayek’s “knowledge” problem and public-choice theory’s “incentive” problem. While this is a welcome start, classical liberalism is a promising agenda for a new economics, and for the “reform of capitalism,” only if it is accompanied by an explicit rejection of Milton Friedman’s subordination of normative to positive economics, and by a move beyond the traditional division of the economy into twin spheres (the state and the market) to embrace a third element: the domestic sphere.

Shaping the Verisimilitude: Moral Didacticism and Neoclassical Principles Responsible for the Rise of the English Novel?

The rise of the novel is a major aspect of the eighteenth century British literature having a remarkable typology: picaresque, adventure, epistolary, sentimental, of manners, moral, comic, anti-novel. The comic (including satirical) attitude, social concern, moral didacticism, and other thematically textualized aspects – emerging from both picaresque tradition and neoclassical principles – and together with picaresque tradition and neoclassical principles – are responsible for the emergence of verisimilitude as the forming element responsible in turn for the rise of the literary system of the novel.

Theory Of Patronized Goods. Liberal Evolution Of Paternalism.

The neo-classical principles of rational behavior are considered in the context of the nature of paternalism as the basis of the Theory of patronized goods. The formation of society’s normative interests is discussed in concern of political aspects. The article illustrates the theoretical and the practical aspects of the concept of consociation democracy, providing liberalization of the institutions for making political and economic decisions. The results of analysis reveal a pattern of paternalism drifting towards institutional liberalization. Proposed a hypothesis explaining why the economic policy in modern Russia still remains somewhere between archaic and merit paternalism.

Theory of Patronized Goods. Liberal Evolution of Paternalism

Abstract The neo-classical principles of rational behavior are considered in the context of the nature of paternalism as the basis of the Theory of patronized goods. The formation of society’s normative interests is discussed in concern of political aspects. The article illustrates the theoretical and the practical aspects of the concept of consociation democracy, providing liberalization of the institutions for making political and economic decisions. The results of analysis reveal a pattern of paternalism drifting towards institutional liberalization. Proposed a hypothesis explaining why the economic policy in modern Russia still remains somewhere between archaic and merit paternalism.

Vilfredo Pareto on Labor: A Critical Re-examination

This article comprehensively examines Vilfredo Pareto's thoughts on labor and highlights their significance within his body of work. Like the other pioneers in neoclassical economics, Pareto disregarded worker subjectivity toward labor performance and the resulting variability in the substance of labor. Thus emasculating the human traits of labor, in his theory of pure economics, Pareto identified the nature of labor exchange with that of the exchange of nonhuman objects, thereby subsuming the former under his general equilibrium system. This neoclassical principle of rationalizing the market determination of labor exchange on its deindividuation governed Pareto's speculations throughout his work. Even his arguments in applied economics in favor of worker solidarity and strikes were grounded on this principle. It remained the basis for Pareto's opinions on actual labor relations. Pareto's frustration here turned him into an anti-unionist, but it also helped to mold his prime ideas regarding sociology and his awareness of the limits of economics. However, Pareto's adherence to his former concept of labor exchange contradicting its nature became a chief cause of his failure to integrate his economic thinking with its sociological counterpart and occasioned his sympathy with Fascism. Thus, this article concludes that Pareto's thoughts on labor profoundly affected his entire body of thought and that their flaw is not exclusive to him but inherent in neoclassical economics.

슐레겔(August W. Schlegel)의 셰익스피어 비평

Critics in the neoclassical period criticized Shakespeare’s use of degenerating expressions, vulgar words, bombasts and his excessive use of puns. Furthermore, they criticized Shakespeare’s violation of the three unities and his lack of moral instruction or poetic justice. Their views of Shakespeare were limited by neoclassical principles. August W. Schlegel, the representative German critic of Shakespeare in the romantic period, defended Shakespeare’s disregard of the three unities, pointing out the negative aspects of the esthetic of delusion as Samuel Johnson did. He also defended Shakespeare’s “mingled drama,” and his defence was based on his belief that it is a more natural form of drama to exhibit the real state of a real world. Schlegel’s contribution to the understanding of Shakespeare’s originality lies in his theory of organic unity and imagination. In A Course of Lectures on Dramatic Art and Literature, Schlegel wrote: “Organical form ... is innate; it unfolds itself from within, and acquires its determination contemporaneously with the perfect development of the germ.... All genuine forms are organical.” Schlegel believed in the power of imagination which can combine many things into one large whole to produce dramatic unity. Schlegel praised Shakespeare’s genius in keeping organic unity in his works and his way of representing the ultimate end of human feeling. For Schlegel, the proof of Shakespeare’s genius is in the creation of various vital characters who mirror each other in an organic form.

Clouded Visions

This article uses the neoclassical economic principles of substitutable goods and switching costs to examine how the Digital Entertainment Content Ecosystem (DECE) intended its digital media ecosystem, UltraViolet, to intervene in the U.S. market for long-form digital video. The article provides a detailed blueprint of the ecosystem’s industrial arrangement, an account of its bungled rollout, and an analysis of the DECE’s long-term strategy. The piece also contributes to a dialogue on the use of economics within the field of digital distribution scholarship by arguing for the value of neoclassical principles within this field.

The Enlightened Eye: Goethe and Visual Culture ed. by Evelyn K. Moore, Patricia Anne Simpson (review)

Evelyn K. Moore and Patricia Anne Simpson, eds., The Enlightened Eye: Goethe and Visual Culture. Amsterdam: Rodopi, 2007.322 pp.A product of the 2003 German Studies Association Conference, this edited volume contextualizes Goethe's concerns with vision, language, and identity to produce a prolegomenon to a more comprehensive reexamination of visual aesthetics in the late eighteenth and early nineteenth centuries. Given the surge of interest in inter-art relations, a volume placing Goethe in the center of an interdisciplinary and contextual study of visual aesthetics is bound to attract much scholarly attention. To do justice to the rich variety of the contributions, a brief assessment of each chapter is called for.At the center of her erudite study, Melissa Dabakis places Goethe and the painter Angelika Kauffmann's common membership in the Arcadian Academy, the eighteenth-century literary, artistic, and cultural society dedicated to the promotion of Enlightenment ideals of natural simplicity against baroque bombast. Her interdisciplinary approach shifts the locus of Goethe's neoclassical revival in Italy away from Winckelmann's sculptural aesthetics toward the poetic and pictorial sphere of the Arcadian Academy. Catriona MacLeod's meticulously researched and composed study of porcelain miniatures in classical Weimar successfully inserts her micro medium into the aesthetic debates of the neoclassical age. Her nuanced interpretive assessment of the half-body busts of aristocrats, artists, intellectuals, and mythological figures, including Laocoon and his sons, that adorned the tables of the upper classes, highlights the ambivalence of a medium that not only reproduced but also challenged the neoclassical principles of emotional restraint and corporeal control.While the subject matter of Beate Allert's Runge, Friedrich: On Painting is better known, her study lends newer insights into Goethe's relationship to both artists. With references to their mutual correspondence, Allert reexamines key points of conflict and identifies areas of convergence between Goethe's intensely visual poetry, his color theory, and the Romantic painters' visualization of temporality. With her discussion of the collaborative Athenaeum essay Die Gemahlde: Gesprach, whose likely coauthorship by Caroline and/or Dorothea Schlegel was omitted by the Schlegel brothers, Margaretmary Daley adds new documentation of the philological neglect of women's texts. Her interpretation calls attention to the fact that the female protagonist successfully argues for the inclusion of a holistic feminine viewpoint to complement malecentered aesthetic theory and reception of artworks. Women's own creative agency also lies at the heart of Mary Helen Dupree's compelling case study. She examines Elise Burger's theatrical and literary career to illustrate how negative biographical anecdotes and gender stereotypes conspired to provoke her exclusion from the Weimar circle, and to demonstrate which rhetorical strategies Burger deployed to counteract her marginalization.Patricia Anne Simpson's Visions of the Nation: Goethe, Karl Friedrich Schinkel, and Ernst Moritz Arndt is a complex interpretive undertaking combining several layers of analysis (interart, gender, historical aesthetics) against the background of the Prussian Wars of Liberation. The gender-specific focus on the portrayal of women as allegory for the nation brings into relief the central allegorical figure of Goethe's neoclassical play Des Epimenides Erwachen, Hope, an embodiment of the nation endowed with traditional male attributes of fighting spirit and cognitive power, and demonstrates the complexity of Goethe's allegory in comparison with contemporary portrayals. …

The Pattern of Industrial Location in India under Liberalization: An Analysis of the Organized Manufacturing Industries

The economic liberalization policy initiated since the early 1991 has made large-scale delicensing of industry and changes in the industrial location policies, and thus, curtailed the role of the state as industrial owner and location regulator. With the increasing dominance of private sector in industrialization under liberalization it is expected that industries will be more spatially concentrated in the leading industrial regions. However, the neoclassical principle suggests that in the long run divergence is followed by convergence. This is in contrast with the theory that raises the question about the regional industrial development in India under the two policy regimes. The main objective of the paper is to examine what happened to the location concentration of industries across the states in the post-liberalization period in India, and thus, understands the influence of economic liberalization on industrial location. This has been examined with the employment data of organized manufacturing sector for the pre- and post-reform periods by: first, looking at the trend of regional concentration of industries over the years, and second, looking at the regional industrial structure and the industrial diversification of regions during the pre- and post reforms periods. The findings suggest that concentration of industries has increased in the post liberalization period in India and the tendency to catch up the industrially developed states is hardly seen among the backward states.

Marx versus Walras on Labour Exchange

This paper compares Leon Walrass and Marxs thoughts on labour exchange thereby illuminating the latters perspective that can lead to a forceful counterargument to the neoclassical principle of labour exchange for which the former affords a foundation. Both Walras and Marx distinguish between labour ability as a factor of production and labour as its service but exhibit a striking contrast in their explanations of the distinction. Walrass distinction betweenpersonal facultiesand labour never attempts to re- veal the peculiarities of the relationship they share. Walras essentially equates the re- lationship between the two with that between non-human factors and their respective services by stripping the former of human elements. This not only allows labour ex- change to be incorporated into Walrass general equilibrium system but also provides the groundwork for its neoclassical principle which on the basis of marginal theory assumes work conditions to be determinable through the stylised market adjustment of the demand and supply of labour on each entrepreneurs and workers maximisa- tion behaviour. In contrast especially in his pre-Capital writings Marx underlines the workers subjectivity in deciding her labour performance. This implies that the type and inten- sity of time-unit labour varies depending on the workers will and the constraints upon it. Accentuating the particular characteristics of the relationship between labour power and labour in this way Marxs arguments lead to the invalidation of the neo- classical principle of labour exchange and rationalise the intervention of socio-politi- cal factors represented by the labour-capital class struggle in the determination of work conditions. Thus this study focuses on the potential of Marxs labour power-la- bour distinction independent of his exploitation theory-the basis of a weighty refu- tation of the neoclassical system.

On the Similarities between the 1932 Harvard Memorandum and the Chicago Antidepression Recommendations

Both the 1932 Harvard and Chicago recommendations for dealing with the Great Depression include vigorous open market purchases by the Fed; federal government deficit spending, including public works, financed by new money creation; reduction in tariffs; and the cancellation of inter-allied debts. The similarities are no coincidence, since both documents draw mostly from well-known classical and early neoclassical monetary analysis and free trade principles, and partially from Keynes's pre-1936 work. The classical principles are embodied in then-familiar texts by John Stuart Mill, Alfred Marshall, Irving Fisher, and Frank Taussig. Memoranda typically do not spell out their theoretical sources.