Fix, 'Energy and Institution Size'

ABSTRACT Why do institutions grow? Despite nearly a century of scientific effort, there remains little consensus on this topic. This paper offers a new approach that focuses on energy consumption. A systematic relation exists between institution size and energy consumption per capita: as energy consumption increases, institutions become larger. I hypothesize that this relation results […]

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Bichler and Nitzan, 'A CasP Model of the Stock Market'

ABSTRACT Most explanations of stock market booms and busts are based on contrasting the underlying ‘fundamental’ logic of the economy with the exogenous, non-economic factors that presumably distort it. Our paper offers a radically different model, examining the stock market not from the mechanical viewpoint of a distorted economy, but from the dialectical perspective of […]

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No. 2016/07: Bichler and Nitzan, 'A CasP Model of the Stock Market'

Most explanations of stock market booms and busts are based on contrasting the underlying ‘fundamental’ logic of the economy with the exogenous, non-economic factors that presumably distort it. Our paper offers a radically different model, examining the stock market not from the mechanical viewpoint of a distorted economy, but from the dialectical perspective of capitalized […]

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The Buy-to-Build Indicator: New Estimates for Britain and the United States

Joseph A. Francis Abstract This note presents new long-term estimates of what Jonathan Nitzan and Shimshon Bichler have named the ‘buy-­to-­build indicator’, which is calculated as the value of mergers and acquisitions as a percentage of gross capital formation. Keywords Britain, buy-to-build indicator, mergers and acquisitions, United States Citation Joseph A. Francis (2013), ‘The Buy-to-Built […]

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Francis’ Buy-to-Build Estimates for Britain and the United States: A Comment

Shimshon Bichler and Jonathan Nitzan Abstract Comments on Francis’ new estimates of the buy-to-build indicator for the United States and Britain. These estimates offer a welcome correction, modifications and additions to the U.S. numbers that we first presented in 1999 and later updated. Keywords Britain, buy-to-build indicator, merges and acquisitions, United States Citation Shimshon Bichler […]

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