Journal of Economic Issues articles from March 2003

Journal of Economic Issues archives from March 2003

Editor's note.(Editorial)
March 1, 2003... What is evolutionary economics? As I Contemplated assuming the duties of editor of the Journal of Economic Issues, I considered this question often and at length. After all, the Association for Evolutionary Economics sponsors the JEI. What...

The Evolution of Evolutionary Economics: the saga of a wayward book.
March 1, 2003... Newtonian Classicism and Darwinian Institutionalism, the precursor of Evolutionary Economics, was published by the University of New Mexico Press in 1953. It was published in what was called "the scholarly series" and was bound in gray heavy...

Technology is not ancillary: the dramatic and prosaic in economic theory.
March 1, 2003... In the opening passages of his Theory of Business Enterprise, Thorstein Veblen observed that the modern economy manifested two major characteristics, business and industry. This dichotomy not only characterizes the modern economy, but it also...

Muck and Magic or Change and Progress: vitalism versus Hamiltonian matter-of-fact knowledge.(David Hamilton )
March 1, 2003... In chapter V, titled "Change and Progress," in his now classic Evolutionary Economics: A Study of Change in Economic Thought, David Hamilton contrasted beliefs in magic and mystic potencies with the matter-of-fact knowledge of technology in the...

It's culture all the way down.(David Hamilton)
March 1, 2003... In Steven Hawking's famous book A B Brief History of Time he began by recounting (a possibly apocryphal) story of a comment at a public lecture by a famous scientist. An older woman got up and said: "What you have told us is rubbish. The...

Hamilton versus Plato.(review of "Evolutionary Economics" by David Hamilton)(Book Review)
March 1, 2003... [T]he norms of reason were not fixed in Greece. Clifford Geertz [T]he idea of ultimate ends is a product of that dualism in human thought that can be traced back to primitive times and is especially clear in the thought of the Greeks,...

Evolution and stasis: the institutional economics of David Hamilton.
March 1, 2003... The demise of institutional economics has been proclaimed on more than a few occasions. For the most part the eulogies are delivered by traditional economists. The history related is one of an intellectual comet that burned brightly, but...

David Hamilton: a radical's institutionalist.
March 1, 2003... David Hamilton is an outstanding economist. He has written three important books, all of them institutionalist in origin and outlook. One is on evolutionary versus equilibrium economics, another on consumer economics, and another on poverty....

Evolutionary Economics from a radical perspective.
March 1, 2003... David Hamilton's book, Evolutionary Economics: A Study of Change in Economic Thought, (1999) is a masterpiece of elegant writing and brilliant insights. I learned much when I read it several decades ago and perhaps even more from the present...

Darwinism and institutional economics.
March 1, 2003... Thorstein Veblen proposed that economics should be reconstructed as a "post-Darwinian" science. One of the aims of this essay is to explore the meaning of this statement. A second aim is to show that American institutional economics had largely...

Internal processes of evolutionary change within an institutional genre: the case of universities.
March 1, 2003... David Hamilton's Evolutionary Economics has accomplished much more than defining critical differences between the classical approach to economics and the evolutionary economics approach. In text and spirit, the book has provided stimulus and...

Are Institutionalists an endangered species?(institutional economics)
March 1, 2003... It has been fifty years since David Hamilton published his provocative book, Newtonian Classicism and Darwinian Institutionalism. A revised edition of this book was published as Evolutionary Economics: A Study of Change in Economic Thought in...

Hamiltonian and teleological dynamics a century after Veblen.
March 1, 2003... David Hamilton's book, Evolutionary Economics: A Study of Change in Economic Thought (1953), is now fifty years old. Soon after its publication, Hamilton's book became a classic in the literature of institutionalism and justifiably remains so...

Mr. Hamilton, Mr. Forrester, and a foundation for evolutionary economics.
March 1, 2003... In his seminal 1953 book, David Hamilton argued that classical economics, (1) which first came of age during the intellectual revolution of Isaac Newton, is based on the notion of Newtonian change, and that institutional economics, which first...

Institutionalism: on the need to firm up notions of social structure and the human subject.
March 1, 2003... Within (old) institutionalist theorizing there has been a widespread tendency for institutions and technology to be treated in a somewhat dichotomous fashion, with the former regarded as synonymous with constraint, rigidity, or stasis and the...

A selected bibliography of David Hamilton's works.
March 1, 2003... These selected works include the original publication of his classic book on Newtonian versus Darwinian economics and its latest reprint under a new title, his books on poverty and on the consumer, his difficult-to-find "Taking the Lead"...

How Economics Forgot History: The Problem of Historical Specificity in Social Science. (Book Reviews).(Book Review)
March 1, 2003... How Economics Forgot History: The Problem of Historical Specificity in Social Science by Geoffrey M. Hodgson. New York: Routledge Publishing. 2001. ISBN 0415257174, $36.95. 422 pages. Professor Geoffrey Hodgson, our colleague and...

Reclaiming Evolution: A Dialogue between Marxism and Institutionalism on Social Change. (Book Reviews).(Book Review)
March 1, 2003... Reclaiming Evolution: A Dialogue between Marxism and Institutionalism on Social Change by William M. Dugger and Howard J. Sherman. London and New York: Routledge. 2000. Paper, ISBN: 041523264, $25.95; cloth, ISBN: 0415232635, $85.00.211 pages....

The Fed: The Inside Story of How the World's Most Powerful Financial Institution Drives the Markets. (Book Reviews).(Book Review)
March 1, 2003... The Fed: The Inside Story of How the World's Most Powerful Financial Institution Drives the Markets by Martin Mayer. New York City: Free Press. 2001. Cloth, ISBN 068484740X, $27.50. 350 pages. In this very interesting book, written in a...

The Architecture of Markets: An Economic Sociology of Twenty-First Century Capitalist Societies. (Book Reviews).(Book Review)
March 1, 2003... The Architecture of Markets: An Economic Sociology of Twenty-First Century Capitalist Societies by Neil Fligstein. Princeton, N.J.: Princeton University Press. 2001. Cloth, ISBN: 0691005222, $35.00. 274 pages. In recent years, the field of...

Living Wages, Equal Wages: Gender and Labor Market Policies in the United States. (Book Reviews).(Book Review)
March 1, 2003... Living Wages, Equal Wages: Gender and Labor Market Policies in the United States by Deborah Figart, Ellen Mutari, and Marilyn Power. New York: Routledge (Routledge IAFEE Advances in Feminist Economics). 2002. Paper, ISBN 0415273919, $31.95. 258...

Altruistically Inclined? (Book Reviews).(Book Review)
March 1, 2003... Altruistically Inclined? by Alexander J. Field. Ann Arbor: The University of Michigan Press. 2001. ISBN: 0472112244, $54.50. 337 pages. Professor Field has written a stimulating, critical work, one that institutionalists will welcome,...

Ecological Planning: A Historical and Comparative Synthesis. (Book Reviews).(Book Review)
March 1, 2003... Ecological Planning: A Historical and Comparative Synthesis by Forster Ndubisi; foreword by Frederick R. Steiner. Baltimore: Johns Hopkins University Press. 2002. Cloth, ISBN 0801868017, $45.00. 287 pages, 43 line drawings, and 25 halftones....

Debunking Economics: The Naked Emperor of the Social Sciences. (Book Reviews).(Book Review)
March 1, 2003... Debunking Economics: The Naked Emperor of the Social Sciences by Steve Keen. New York: Zed Books. 2001. Trade paper, ISBN 1864030704, $27.50. 335 pages. Last year when I taught intermediate macroeconomics, I asked my AFEE colleagues for...

Books received.
March 1, 2003... ABED, GEORGE T., and SANJEEV GUPTA, eds. Governance, Corruption, and Economic Performance. Washington, D.C.: International Monetary Fund, 2002. Pp. 564. Paper $37.50. ACS, ZOLTAN J. Innovation and the Growth of Cities. Northampton, Mass.:...