Menger and Walras on Money: A Comparative View

Aréna, Richard; Gloria-Palermo, Sandye

doi:10.1215/00182702-2008-004

Cited by 12 publications

(3 citation statements)

References 13 publications

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“…To understand Airbnb as hybrid, let us examine how it contributes to public and social value creation. While market value refers to the monetized and quantified form of worth that manifests itself in the transactional systems of societies (Arena & Gloria-Palermo 2008), the notion of public value has been conceived as something that cannot be merely encapsulated through market transactions or their residuals (Meynhardt 2009;Bozeman 2020). Benington (2011, p. 42) defined public value as first "what the public values; second, what adds value to the public sphere".…”

Section: Airbnb As a Manifestation Of Hybriditymentioning

confidence: 99%

Public Innovation and Digital Transformation

Väyrynen¹,

Helander²,

Jalonen³

2022

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Hannele Väyrynen is a Postdoc Researcher in the Faculty of Management and Business, Tampere University (Finland). Through the lens of information and knowledge management, her research interests focus on innovation management, data and information visualization, and design processes. In several of her research projects, the focus has been on company interaction.Nina Helander, Professor of Knowledge Management, works at Tampere University as Head of the Unit of Information and Knowledge Management and as a leader of the NOVI research group. Her research focuses especially on digitalization, value creation, and knowledge management. She has led several multidisciplinary research projects, including projects that have focused on digitalization and data-based value creation. She is also an Adjunct Professor of Information Systems at the University of Jyväskylä.Harri Jalonen works as Professor at the University of Vaasa, Finland. His research interests cover among others the interplay between knowing and ignorance, the service-dominant logic of value creation, the dynamics of systemic change, and the pros and cons of innovation management. He has published around 100 scientific articles, conference papers, books, or book sections and around 100 articles in newspapers, trade magazines, and blog notes. He has managed around 20 international and national research projects. He is also a reviewer for many scientific academic journals, research grant applications, and committee member of international conferences.Public innovation and digitalization are reshaping organizations and society in various ways and within multiple fields, as innovations are essential in transforming our world and addressing global sustainability and development challenges. This book addresses the fascinating relationship between these two contemporary topics and explores the role of digital transformation in promoting public innovation.This edited collection includes examples of innovations that emerge suddenly, practices for processing innovations, and the requirements for transformation from innovation to the "new normal". Acknowledging that public innovation refers to the development and realization of new and creative ideas that challenge conventional wisdom and disrupt the established practices within a specific context, expert contributions from international scholars explore and illustrate the various activities that are happening in the world of multiple digitalization opportunities. The content covers public administration, technical and business management, human, social, and future sciences, paying attention to the interaction between public and private sectors to utilize digitalization in order to facilitate public innovation.This timely book will be of interest to researchers, academics, and students in the fields of technology and innovation management, as well as knowledge management, public service management, and administration.

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Section: Airbnb As a Manifestation Of Hybriditymentioning

confidence: 99%

Public Innovation and Digital Transformation

Väyrynen¹,

Helander²,

Jalonen³

2022

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“…Carl Menger's contributions to the origin and the theory of money have attracted much interest in recent years (see O'Driscoll 1986;Stenkula 2003;Alvaraz 2004;Ikeda 2008;Arena/Gloria-Palermo 2008;Alvarez/Bignon 2013). In contrast, Menger's take on capital theory has rather been treated as an orphan.…”

Section: Introductionmentioning

confidence: 99%

Carl Mengers contribution to capital theory

Braun

2023

Mengerian Economics

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The common interpretation of Carl Menger's take on capital theory rests upon a few sentences in his Principles of Economics. His later monograph on the topic, Zur Theorie des Kapitals (A contribution to the theory of capital), is more or less ignored, although it must be seen as a recantation of his earlier views. As it becomes clear in this work, Menger would have opposed all attempts to define capital as a heterogeneous structure of higher-order goods -a definition that is associated with his name today. In his opinion capital is a homogeneous concept stemming from accounting practices. The debate about Menger's view on capital does not only concern terminological points, but involves the subject matter of capital theory. A theory of capital based on Menger's later view would concentrate on the way the market economy is organized and not on technical characteristics of a multi-stage production process.

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“…In their article Arena and Gloria-Palermo (2008) proposed a similar comparative analysis, through a de-homogenising approach, on Walras's and Menger's monetary theories. Their contribution centers on methodological aspects concluding, as we do, that the Walras-Menger divide improves our understanding of the existence of a double form of modern micro-foundations for money.…”

Section: Introductionmentioning

confidence: 99%

L. Walras and C. Menger: two ways on the path of modern monetary theory

Álvarez¹,

Bignon²

2011

The European Journal of the History of Economic Thought

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This paper shows that modern monetary theory can be better understood through the differences between Menger and Walras. Since the 1980s attempts to establish coherent microfoundations for monetary exchange have brought Menger's theory of the origin of money to the forefront and sent walrasian methods to the backstage. However, during the first decade of the XXIth century models inspired on mengerian monetary theory, mainly represented by the search monetary approach, are trying to reintroduce neowalrasian elements. This paper aims at clarifying the main theoretical implications of this movement, through an analysis of the Menger-Walras divide on money. This divide allows us to show new proof of the deep theoretical differences among the so-called marginalist authors and of the richness of this historical period as a source for modern economics.

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Menger and Walras on Money: A Comparative View

Cited by 12 publications

References 13 publications

Public Innovation and Digital Transformation

Public Innovation and Digital Transformation

Carl Mengers contribution to capital theory

L. Walras and C. Menger: two ways on the path of modern monetary theory

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