Journal of Economic Issues articles from March 2001

Journal of Economic Issues archives from March 2001

Political Governance, Technology, and Endogenous Money: The Making of a State-of-the-Art Technology in the England and Wales Electricity Supply Industry.
March 1, 2001... Since the 1960s there has been renewed awareness of the importance of the role of technology and technological change in the process of economic growth. This has given momentum to research on the significance of innovation for competitiveness...

A Dual-Stage View of the Consumer Goods Economy.
March 1, 2001... Over the course of many years as a manufacturer in a number of consumer goods industries I became increasingly aware of certain disconnections between what I and countless other business people had observed and the predictions of the...

Employee Attachment and Temporary Workers.
March 1, 2001... In 1992, in the wake of turmoil and tremendous change, the US economy emerged from a brief recession and began an expansion of unprecedented length. From the late 1960s and early 1970s onward, the economy had faced growing competition within...

Interactive Economic Policy: Toward a Cooperative Policy Approach for a Negotiated Economy.
March 1, 2001... The present article is about deficient markets and a new approach to policy intervention that responds to them. This approach, in turn, is meant to underpin the broader institutionalist negotiated-economy conception. The paper proceeds...

The Business Cycle Theory of Wesley Mitchell.
March 1, 2001... Most neoclassical economists believe that Wesley Clair Mitchell had no theory of the business cycle; according to Milton Friedman, "Mitchell is generally considered primarily an empirical scientist rather than a theorist" (Burns 1952, 237). The...

Veblen, Bourdieu, and Conspicuous Consumption.
March 1, 2001... Written just one hundred years ago, Thorstein Veblen's Theory of the Leisure Class ([1899] 1994) still represents a powerful critique of the neoclassical theory of consumption. In contrast to the individual's static maximization of utility...

Institutional Economics, Instrumentalist Political Theory, and the American Tradition of Empirical Collectivism.
March 1, 2001... The political counterpart of institutional economics is, no doubt, the instrumentalist political theory of John Dewey, and the recent literature on him is huge. [1] Indeed, the influence of Dewey and his followers' thought on institutional...

Veblen, Camp, and the Industrial Organization of Agriculture.
March 1, 2001... William Roswell Camp (1873-1934) was among the few academicians to apply Veblenian economics to the industrial organization of agriculture. Camp was deeply devoted to Thorstein Veblen. When Veblen resigned from Stanford University in 1909, he...

The Fairness Criterion in Public Utility Regulation: Does Fairness Still Matter?
March 1, 2001... The concept of "fairness" is deeply rooted in the 120-year history of public utility regulation in the United States. Indeed, the word "fair" appears in numerous regulatory concepts and propositions, for example, a fair rate of return, fair...

The Policy Relevance of Institutional Economics.
March 1, 2001... In March 1984, the Journal of Economic published a special national economic policy issue titled "Economic Policy for the 1980s and Beyond: An Institutionalist Agenda." In the editor's introduction Marc Tool wrote: Presumably it is always...

Welfare Reform: What Are the Numbers, and Does Anyone Care?
March 1, 2001... When the 104th US Congress passed HR 3734, The Personal Responsibility and Work Opportunity Act of 1996, it significantly redefined the federal government's role in welfare' delivery. The act was the product of a long period of widespread...

New Jersey: Princeton University Press.(Review)
March 1, 2001... COINS, BODIES, GAMES, AND GOLD. By Leslie Kurke. Princeton, New Jersey: Princeton University Press, 1999. Pp. xxi, 385. $65.00 cloth/$29.95 paper. ISBN 0-691-01731-X/ISBN 0-691-00736-5. We all know the orthodox story about the origins of...

THE POLITICS OF THE MINIMUM WAGE.(Review)
March 1, 2001... THE POLITICS OF THE MINIMUM WAGE. By Jerold Waltman. Urbana, Ill.: University of Illinois Press, 2000. Pp. 160. $24.95 cloth. The minimum wage has been highly controversial throughout its entire history. Nowhere is this controversy more...

WHY WAGES DON'T FALL DURING A RECESSION.(Review)
March 1, 2001... WHY WAGES DON'T FALL DURING A RECESSION. By Truman F. Bewley. Cambridge, Mass.: Harvard University Press, 1999. Pp. 527. Truman Bewley's book will almost certainly raise the spirits and convictions of institutional economists. It may even...

FEEDING THE WORLD: A CHALLENGE FOR THE TWENTY-FIRST CENTURY.(Review)
March 1, 2001... FEEDING THE WORLD: A CHALLENGE FOR THE TWENTY-FIRST CENTURY. By Vaclav Smil. Cambridge, Mass.: The MIT Press, 2000. Pp. xxviii, 360. $32.95. Vaclav Smil has been an extraordinarily productive author over an even more extraordinary range of...

UNDERSTANDING DEVELOPMENT: PEOPLE, MARKETS AND THE STATE IN MIXED ECONOMIES.(Review)
March 1, 2001... UNDERSTANDING DEVELOPMENT: PEOPLE, MARKETS AND THE STATE IN MIXED ECONOMIES. By Ignacy Sachs. New Delhi: Oxford University Press, 2000. Pp. viii, 204. Understanding Development: People, Markets and the State in Mixed Economies is a...

GLOBAL ECONOMY, GLOBAL JUSTICE: THEORETICAL OBJECTIONS AND POLICY ALTERNATIVES TO NEOLIBERALISM.(Review)
March 1, 2001... GLOBAL ECONOMY, GLOBAL JUSTICE: THEORETICAL OBJECTIONS AND POLICY ALTERNATIVES TO NEOLIBERALISM. By George F. DeMartino. London and New York: Routledge, 2000. $100 cloth/$32.99 paper. In this book George DeMartino sets out to dethrone the...

MARX'S ECOLOGY.(Review)
March 1, 2001... MARX'S ECOLOGY. By John Bellamy Foster. New York: Monthly Review Press, 2000. 310 pages. Paper: $18.00. Foster's book is a broad picture of how the fundamentals of modem ecology appeared in the work of Charles Darwin and Karl Marx; he also...

FEMINIST ECONOMICS: INTERROGATING THE MASCULINITY OF RATIONAL ECONOMIC MAN.(Review)
March 1, 2001... FEMINIST ECONOMICS: INTERROGATING THE MASCULINITY OF RATIONAL ECONOMIC MAN. By Gillian J. Hewitson. Cheltenham: Edward Elgar, 1999. Pp. 277. [pound]55.00. The title Feminist Economics is not a contemptuous choice, as the book covers a wide...

RULING THE WORLD: POWER POLITICS AND THE RISE OF SUPRANATIONAL INSTITUTIONS.(Review)
March 1, 2001... RULING THE WORLD: POWER POLITICS AND THE RISE OF SUPRANATIONAL INSTITUTIONS. By Lloyd Gruber. Princeton, N.J.: Princeton University Press, 2000. Pp. 278, bibliography. The author presents his intentions in the section called "Preface and...