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No 5, July 2015

Table of contents

Universal Basic Income and the Cost Objection: What are we Waiting For? Richard Pereira	1
Again on Piketty’s Capital in the Twenty-First Century or Why National Accounts and Three Simple Laws Should not be a Substitute for Economic Theory Christian Flamant	22
Climate Change, Procrastination and Asymmetric Power Korkut Alp Ertürk, Jason Whittle	40
Data Visualization in Capital in the 21st Century Noah Wright	54
The Price Cannot be Right: Taxation, Sub-Intrinsic-Value Housing Bubbles, and Financial Instability Gavin R. Putland	73
On the Historical, Moral and Economic Arguments for Asymmetric Trading Regimes: the case of sub-Saharan Africa Bob Milward	87
Rationality in the Theory of the Firm Russell K. Standish, Stephen L. Keen	101
Toward an Understanding of Keen and Standish’s Theory of the Firm: A Comment David Rosnick	107
Technical Appendix: A Better Response to Keen-Standish “hill climbers” David Rosnick	124
Response to David Rosnick’s “Toward an Understanding of Keen and Standish’s Theory of the Firm: A Comment” Russell K. Standish, Stephen L. Keen	130

Published 10th July, 2015