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Ethical Implications of Time in Economic Analysis

Ethical Implications of Time in Economic Analysis Those economists who emphasise the shortrun analysis and itseffects tend to value distributive equity more than productiveefficiency, full employment more than price stability, fiscal policymore than monetary policy and collective necessity more than individualfreedom. Those stressing the longrun tend to believe in the oppositeway. Any emphasis on one particular time frame, however, represents atbest a partial and biased analysis of the whole economic reality and atworst a distortion of it. It would be necessary, therefore, in economictheory and policy, for both the shortrun and the longrun effects, tobe monitored with equal interest and intensity. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png International Journal of Social Economics Emerald Publishing

Ethical Implications of Time in Economic Analysis

International Journal of Social Economics , Volume 17 (5): 9 – May 1, 1990

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References (7)

Publisher
Emerald Publishing
Copyright
Copyright © Emerald Group Publishing Limited
ISSN
0306-8293
DOI
10.1108/03068299010140557
Publisher site
See Article on Publisher Site

Abstract

Those economists who emphasise the shortrun analysis and itseffects tend to value distributive equity more than productiveefficiency, full employment more than price stability, fiscal policymore than monetary policy and collective necessity more than individualfreedom. Those stressing the longrun tend to believe in the oppositeway. Any emphasis on one particular time frame, however, represents atbest a partial and biased analysis of the whole economic reality and atworst a distortion of it. It would be necessary, therefore, in economictheory and policy, for both the shortrun and the longrun effects, tobe monitored with equal interest and intensity.

Journal

International Journal of Social EconomicsEmerald Publishing

Published: May 1, 1990

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