Journal of Economic Issues articles from March 1999

Journal of Economic Issues archives from March 1999

The creation and circulation of endogenous money: a circuit dynamique approach.
March 1, 1999... Endogenous money has traditionally been recognized as the quasi-exclusive domain of Post Keynesian political economy, and many authors consider it the "coping stone" of Post Keynesian macroeconomics [Chick 1995; Palley 1992]. But as the...

Central bank independence: reassessing the measurements.
March 1, 1999... The hypothesis that central hank independence improves macroeconomic performance is an alluring one. It is, in the first place, readily grounded in theory: elected governments, periodically needing to face their electorates, have an incentive...

Restructuring by design: government's complicity in corporate restructuring.
March 1, 1999... The view that corporate restructuring is not only inevitable, but necessary, has become commonplace in American policy and business circles. Only by imposing job losses and shedding unnecessary costs can American business hope to compete in the...

Taxes, saving, and macroeconomics.
March 1, 1999... [To institute tax incentives] on the assumption that they will have commensurate effects in increasing investment must . . . rest essentially on faith. Faith is indeed sometimes rewarded. But for our part, in this instance, we remain agnostic....

Assessing the soothsayers: an examination of the track record of macroeconomic forecasting.
March 1, 1999... On the first business day of each year, The Wall Street Journal (hereafter WSJ) surveys the top macroeconomic forecasters in the United States in order to ascertain their predictions for the U.S. economy in the forthcoming year. Forecasts are...

Quasi commodities in the first and third worlds.
March 1, 1999... Origin and Context of Our Argument Discussions of health care, welfare reform, reform of the courts, and public schools carried on in terms of efficiency, costs, productivity, and demand imply that these services can be treated as if they...

Clinical effectiveness in the National Health Service in Scotland.
March 1, 1999... In the industrialized West, the welfare state has undergone reforms of varying significance during the past two decades. At the root of these transformations has been the ascendancy of neo-liberal thought, grasped by an eager political class...

Chaos theory and institutional economics: metaphor or model?
March 1, 1999... The growth and mutations of the institutional fabric are an outcome of the conduct of the individual members of the group, since it is out of the experience of the individuals, through the habituation of the individuals, that institutions...

The "compulsive shift" to institutional concerns in recent labor economics.
March 1, 1999... I foresee that within the next ten or twenty years the now fashionable highly abstract analysis of conventional economists will lose out. Although its logical basis is weak . . . its decline will mainly be an outcome of the tremendous changes...

Theories of property.
March 1, 1999... Among the theories of property are those that attempt to (1) explain the origins of private property, (2) explain the development/evolution of private property, and (3) legitimize - or criticize - the institution of private property and/or...

The Noblest Triumph: Property and Prosperity Through the Ages.(Review)
March 1, 1999... by Tom Bethell. New York: St. Martin's Press, 1998. Pp. vi, 378. $29.95. Among the theories of property are those that attempt to (1) explain the origins of private property, (2) explain the development/evolution of private property, and...

Property Relations: Renewing the Anthropological Tradition.(Review)
March 1, 1999... edited by C. M. Harm. New York: Cambridge University Press, 1998. Pp. x, 277. $59.95 (cloth), $19.95 (paper). Among the theories of property are those that attempt to (1) explain the origins of private property, (2) explain the...

Property in Economic Context.(Review)
March 1, 1999... edited by Robert C. Hunt and Antonio Gilman. Baltimore, Md.: University Press of America, 1998. Pp. x, 381. $44.50. Among the theories of property are those that attempt to (1) explain the origins of private property, (2) explain the...

The Political Institution of Private Property.(Review)
March 1, 1999... by Itai Sened. New York: Cambridge University Press, 1998. Pp. xiv, 204. $54.95. Among the theories of property are those that attempt to (1) explain the origins of private property, (2) explain the development/evolution of private...

The Wealth and Poverty of Nations.(Review)
March 1, 1999... By David S. Landes. New York: W. W. Norton and Co., Inc., 1998. Pp. xxi, 650. $30.00. This is a major book on economic development by one of the leading historians of economic change. David Landes seeks to answer the question of why some...

The Logic of Privatization: The Case of Telecommunications in the Southern Cone of Latin America.(Review)
March 1, 1999... By Walter T. Molano. Westport, Conn., and London: Greenwood Press, 1997. Pp. xi, 138. A study of privatization in Latin America is timely and important and is equivalent to a study of deregulation in the United States. Whereas in the...

Changing Patterns in the Distribution of Economic Welfare: An International Perspective.(Review)
March 1, 1999... Edited by Peter Gottschalk, Bjorn Gustafsson, and Edward Palmer. Cambridge: Cambridge University Press, 1997. Pp. 397, x. $69.95. This volume came out of a conference held at Fiskebackskil, Sweden, in June 1993. The conference was sponsored...

An Introduction to Ecological Economics.(Review)
March 1, 1999... By Robert Costanza, John Cumberland, Herman Daly, Robert Goodland, and Richard Norgaard. Boca Raton, Fla.: St. Lucie Press, 1997. Pp. xii, 275. $45.00 (hardcover). In economic circles, it might, at first glance, appear trite to note that...

Bombay: Metaphor for Modern India.(Review)
March 1, 1999... Edited by Sujata Patel and Alice Thorner. Delhi: Oxford University Press, 1996. Pp. 286. This is a collection of papers from a conference held in Bombay on December 16-19, 1992. Obviously, the conference had been in the planning for...

Achieving Our Country: Leftist Thought in Twentieth-Century America.(Review)
March 1, 1999... By Richard Rorty. Cambridge, Mass.: Harvard University Press, 1998. Pp. 159. $18.95 (cloth). Richard Rorty is considered by many to be America's greatest living philosopher. That assessment is firmly supported in this short, profound, and...

World Development Report, 1997: The State in a Changing World.(Review)
March 1, 1999... The World Bank. Washington, D.C.: Oxford University Press for the World Bank, 1997. Pp. 265. $25.95 (paper). According to the World Bank's twentieth-annual edition of the World Development Report, the state and its institutions are focal...

Employment Without Inflation.(Review)
March 1, 1999... By Benjamin Higgins. New Brunswick and London: Transaction Publishers, 1998. Pp. x, 384. $49.95. Employment Without Inflation culminates 20 years of marcoeconomic research for Benjamin Higgins. While studies of unemployment and inflation...

Economics, Ethics, and Public Policy.(Review)
March 1, 1999... Edited by Charles K. Wilber. Lanham, Md.: Rowman and Littlefield Publishers, Inc., 1998. Pp. vii, 416. $70.00 (cloth), $16.95 (paper). The interaction of ethics and economics is the subject of this collection of 20 essays. Most of the 22...