American Economist articles from September 1993

American Economist archives from September 1993

Kenneth E. Boulding: 1910-1993. (Obituary)
September 22, 1993... IN MEMORIAM Kenneth E. Boulding died on March 19 at age 83, after a long bout with cancer. Nominated for Nobel Prizes in both peace and economics, Boulding's accomplishments are as numerous as the scope and diversity of his interests. Like...

The other side of the coin.
September 22, 1993... A major decision-maker is reported to have pleaded "Find me a one-armed economist, who won't always be telling me 'on the one hand, but on the other'." Unfortunately for his search for simple answers, there are usually two or more sides to a...

Education and its consequences: my philosophy of life.
September 22, 1993... "Philosophy," wrote Stanley Cavell |1979~, is "the education of grownups." This paper recounts my "education" in a broad sense, including the impact of family, religion, schooling, the Army, business, and fellow economists. The reader will...

How I work.
September 22, 1993... My formal charge in this essay is to talk about my "life philosophy." Let me make it clear at the outset that I have no intention of following instructions, since I don't know anything special about life in general. I believe it was Schumpeter...

Life philosophy: ethics and economists.
September 22, 1993... Introduction The life philosophy series in this journal and in the collection of Michael Szenberg (1992) suggest that a golden age of economics occurred in the twenty-five years following World War II. The series indicates that, with few...

Pareto optimality in a Becker model of time allocation.
September 22, 1993... I. Introduction Though it is widely known that Gary Becker's (1965) classic model on the allocation of time does not result in unambiguous comparative static results (see Holtmann, 1972; DeSerpa, 1975; Pollak and Wachter, 1975), his model has...

Determinants of income velocity in the United Kingdom: multivariate Granger causality.
September 22, 1993... 1. Introduction The behavior of the income velocity of both narrow and broad measures of money in the United Kingdom in the 1980s was a surprise to many monetary economists. After an upward trend during the 1970s, income velocity showed...

Earnings differentials between natives and immigrants with college degree.
September 22, 1993... I. Introduction The new Immigration Act of 1990, to take effect October 1991, is a major change in the country's 25-year-old legal immigration policy. The new law is designed to increase immigration of highly skilled manpower. Under the...

Replacing the autarky factor prices with the corresponding post-trade prices: an extension of Deardorff's factor-proportions theory of trade.
September 22, 1993... 1. Introduction In his 1982 article in The American Economic Review, Alan Deardorff has developed a generalized version of the Heckscher-Ohlin model of trade for the l-factor, m-commodity, and n-country case. One should be cautioned, however,...

Minimizing the political/economic time lag for economic recovery.
September 22, 1993... I. Introduction The purpose of this brief analysis is to determine how to minimize the time it takes recession-combatting policies to lead to economic recovery. We assume that political (inside) lags are slower than economic (outside) ones and...

Equivocation in mathematical economics.
September 22, 1993... Professions develop their own social conventions. One in economics is that arguments should be expressed in mathematical form where possible. This may be an attempt to make an often controversial field appear more "scientific." Physics appears to...

National security at what price? The economic consequences of military spending.
September 22, 1993... The recent conclusion of the Cold War affords an opportunity to reflect on, and evaluate the consequences of, America's defense policy of the last 45 years. The federal government's post World War II policy created a permanent military spending...

The relationship of the current account balance and the budget balance.
September 22, 1993... When Australia is mentioned many images come to mind including Crocodile Dundee, the last frontier, and the lucky country. However, Australia is not as "lucky" as its image. Australia has one of the world's highest living standards in the world...

Regional economics: survey of reading lists in universities in Canada and the United States.
September 22, 1993... 1. Objective: Regional economics plays an important role in the economics curriculum. The positive feedback from readers on earlier works like micro- and macroeconomics prompted the author to conduct the present survey. The intent of the...

Second Thoughts: Myths and Morals of U.S. Economic History.
September 22, 1993... In Second Thoughts: Myths and Morals of U.S. Economic History, many of our leading economic historians demonstrate that commonly accepted wisdom about America's economic past is often wrong, and therefore misleading. Reading this insightful...

The Atlas of Economic Indicators.
September 22, 1993... There are a variety of ways to examine and analyze the American economy. Herbert Stein and Murray Foss, senior fellows at the American Enterprise Institute, focus upon historic and recent performance (through 1990) using a descriptive approach....

Changing Fortunes.
September 22, 1993... Paul Volcker, former official of the Treasury and most notably from 1979 to 1987 Chairman of the U.S. Federal Reserve Board and Toyoo Gyothen, 30 year veteran of the Japanese Ministry of Finance have collaborated on a remarkable book. This volume...

The Twilight of Sovereignty.
September 22, 1993... Walter Wriston, former chairman of Citicorp, has recently published a short (176 page) treatise on the impending transformation of the world due to the increasing power of information which is spawning a global revolution. Mr. Wriston's book The...

Stealing the Market: How the Giant Brokerage Firms, with Help from the SEC, Stole the Stock Market from Investors.
September 22, 1993... If you have never read one of Martin Mayer's books, you have not been consumed by the insider information he provides on his topics. For those who desire an understanding of the financial world, Stealing the Market . . . will certainly enlighten...

The Bankrupting of America.
September 22, 1993... The Bankrupting of America is an urgent message sent to Americans and the United States government on how the federal budget is impoverishing the nation. In the introduction, the author points out three basic arguments: deficits don't matter,...