Managerial Finance: Volume 25 Issue 3/4

The day of the merchant: a comment on economic thought in a national order

Lewis Karkensson

Places the concept of “national order” in the context of seventeenth century Europe, describes its characteristics and relates it to mercantilism, i.e. using economic activity to…

The state and the market, their functions and failures in the history of economic development thought

Hamid Hosseini

Outlines the ideas incorporated in “development economics” and criticizes the lack of distinction made by some writers between development and economic growth. Asks whether…

Politicians’ motives in the rent seeking society

Daniel Sutter

Outlines the theory of public choice (i.e. the equilibrium of a formal political model based on functions: not politicians) and identifies some reasons why US politicians may…

Adaptive aspirations and cognitive individual well‐being: some implications

Mohammed Ansari, John Roufagalas

Differentiates economic welfare from general welfare and demonstrates mathematically the welfare‐indeterminacy of economic growth. Goes on to show that the Pareto criterion also…

Economic sanctions: obstruction or instrument for world trade?

Abbis J. Ali, Robert C. Camp

Relates Adam Smith’s invisible hand to present day globalization and considers the impact of US trade and economic sanctions on the world economy. Discusses the political roots of…

The role of interest groups in products liability law

David S. Gedde, Tantatape Brahmasrene

Describes the impact of recent changes in US tort law and identifies four interest groups concerned: manufacturers, insurance companies, consumers and lawyers. Discusses their…

Shariah and the evolution of property rights: special reference to South Asia

A.J.M. Farooque

Outlines the evolution of the idea of private property in the West and in early Islamic states; and its practical translation into property rights in land in the UK, Islamic…