Journal of Economic Issues articles from March 2005

Journal of Economic Issues archives from March 2005

Veblen's "Instinct of Workmanship," its cognitive foundations, and some implications for economic theory.
March 1, 2005... Chief among those instinctive dispositions that conduce directly to the material well-being of the race, and therefore to its biological success, is perhaps the instinctive bias here spoken of as the sense of workmanship. --Veblen In...

Economic activity and institutions: taking stock.
March 1, 2005... If we start from the premise that institutions are socially constructed (Berger and Luckmann 1966) and that economic activity is socially instituted (Polanyi 1957) and a situated process (Granovetter 1992), we may argue that economic phenomena...

A distrustful economy: an inquiry into foundations of the Russian market.
March 1, 2005... Strengthening network capitalism implies that a common economic space does not exist even within national borders. Does this mean that one cannot speak about the national market, or economic transactions made on a national scale, in post-Soviet...

Preferences, power, and the determination of working hours.
March 1, 2005... To develop a meaningful understanding of living standards and the distribution of income in capitalist economies, it is important to consider the length of the working day. Since Karl Marx's discussion, in part 4 of Capital's first volume, of...

Advances and challenges in innovation studies.
March 1, 2005... The study of innovation is a relatively young and fast-growing branch of social science. Mainly inspired by the work of Joseph Schumpeter and by other research traditions outside the economics mainstream, it has developed as an...

Dam-induced development and environmental and social sustainability: the Bakun industrialization strategy revisited.
March 1, 2005... Malaysia changed rapidly from an agriculturally based economy in the 1960s to an industrially oriented nation in the 1990s. Its rapid industrial development momentum is further intensified under the Malaysian Third Outline Perspective Plan...

U.S. academic institutions and perceived effectiveness of foreign-born faculty.
March 1, 2005... This paper tests current perceptions of the effectiveness of foreign-born faculty at U.S. universities in order to provide suggestions to support useful institutional change in this arena. An institutional perspective allows an understanding of...

Thorstein Veblen's views on American "exceptionalism": an interpretation.
March 1, 2005... A facet of Thorstein Veblen's thought and the intellectual milieu in which he lived remains inadequately explored and explained. (1) It is his "exceptionalism," that is, his analysis of why Europe and the United States are different. Although...

Frank W. Taussig's institutionalism.(views by other economists)
March 1, 2005... In his magisterial treatise, The Economic Mind in American Civilization, Joseph Dorfman argued that despite Frank W. Taussig's liberal editorship of the Quarterly Journal of Economics (QJE henceforth) and his tolerance of heterodox ideas in...

Organized speculation as an institution: John Franklin Crowell and the U.S. Industrial Commission report on Distribution of Farm Products.
March 1, 2005... The Journal of Macromarketing in 1987 carried an abstract of a stimulating paper by Scott D. Johnson and Stanley C. Hollander, presented at the twelfth annual Macromarketing Conference held in Montreal. Johnson and Hollander's paper was titled...

In defense of employer of last resort: a response to Malcolm Sawyer.(Notes And Communications)
March 1, 2005... While we welcome a chance to discuss the merits of employer of last resort (ELR) proposals, it is difficult to respond to Malcolm Sawyer's (2003) assessment. (1) First, many of his critiques are superficial because he attempts to cover just...

Reply to Malcolm Sawyer.(Notes And Communication)(about employment)
March 1, 2005... For several years now I have been involved in a project investigating the theoretical and practical possibilities of promoting full employment and price stability in an economy using state money through a government-sponsored job guarantee and...

Employer of last resort: a response to my critics.(Notes And Communication)
March 1, 2005... In their responses to my critique of employment of last resort proposals (hereafter ELR), Mat Forstater and Bill Mitchell and Randy Wray raise a range of points, and in this reply I have decided, rather than go through them sequentially, to...

The Economics of Innocent Fraud: Truth for Our Time.(Book Review)
March 1, 2005... The Economics of Innocent Fraud: Truth for Our Time, by John Kenneth Galbraith. Boston & New York: Houghton Mifflin Company. 2004. ISBN 0618013245, $15.00. xi + 62 pages. This is a most notable little book. As with "conventional wisdom,"...

Contours of Descent: U.S. Economic Fractures and the Landscape of Global Austerity.(Book Review)
March 1, 2005... Contours of Descent: U.S. Economic Fractures and the Landscape of Global Austerity, by Robert Pollin. London and New York: Verso. 2003. Cloth, ISBN 1859846734, $21.00. 238 pages. Bob Pollin's Contours of Descent provides an incisive...

U.S. Trade Polio: History, Theory, and the WTO.
March 1, 2005... U.S. Trade Polio: History, Theory, and the WTO, 2d ed., by William A. Lovett, Alfred E. Eckes, Jr., and Richard L. Brinkman. Armonk, N.Y., and London: M. E. Sharpe. 2004. Paper, ISBN 0765613085, $25.95. 236 pages, bibliography, and index. ...

Governing Work and Welfare in a New Economy: European and American Experiments.(Book Review)
March 1, 2005... Governing Work and Welfare in a New Economy: European and American Experiments, edited by Jonathan Zeitlin and David M. Trubek. New York: Oxford University Press. Paperback, ISBN 0199257175, $39.50. 420 pages. This book comprises a set of...

The Oxford Encyclopedia of Economic History.(Book Review)
March 1, 2005... The Oxford Encyclopedia of Economic History, edited by Joel Mokyr. Vol. 1--Accounting and Bookkeeping to Contract Labor and the Indenture System, Vol. 2--Cooperative Agriculture and Farmer Cooperatives to Hughes, Jonathan, Vol. 3--Human Capital...

The State, the Market, and the Euro.(Book Review)
March 1, 2005... The State, the Market, and the Euro, edited by Stephanie A. Bell and Edward J. Nell. Edward Elgar. 2003. ISBN 1843761564, $80.00. xiv + 202 pages. The issues raised in this book are well indicated by the title, namely the roles of the...

The Evolutionary Analysis of Economic Policy.
March 1, 2005... The Evolutionary Analysis of Economic Policy, edited by Pavel Pelikan and Gerhard Wegner. Cheltenham, U.K.: Edward Elgar. 2003. ISBN 1843762250, $100.00. 269 pages. What policy prescriptions fit an economy with individuals bounded in...

Economic Governance in the Age of Globalization.(Book Review)
March 1, 2005... Economic Governance in the Age of Globalization, by William K. Tabb. New York: Columbia University Press. 2004. ISBN 0231131542, $69.50. 520 pages. William Tabb introduces the reader to critical arguments on the benefits of globalization...

Employment with a Human Face: Balancing Efficiency, Equity, and Voice.(Book Review)
March 1, 2005... Employment with a Human Face: Balancing Efficiency, Equity, and Voice, by John W. Budd. Ithaca, N.Y.: ILR Press. 2004. ISBN 0801442087, $39.95. 263 pages. This is an ambitious book. I can think of few treatises on industrial relations...

A Perilous Progress.(Book Review)
March 1, 2005... A Perilous Progress, by Michael Bernstein. Princeton, N.J.: Princeton University Press. 2001. Paper, ISBN 0691119678, $19.95. 345 pages. This is a scholarly book that looks at the U.S. experience of economists as policy makers from the...

Alternative Economic Models of Transition.(Book Review)
March 1, 2005... Alternative Economic Models of Transition, by John Marangos. Burlington, Vt.: Ashgate. 2003. ISBN 0754636577, $104.95.261 pages, plus appendix, bibliography, and index. The aim of this book is to introduce and develop an analytical...

Race, Liberalism, and Economics.(Book Review)
March 1, 2005... Race, Liberalism, and Economics, edited by David Colander, Robert Prasch, and Falguni Sheth. Ann Arbor: University of Michigan Press. 2004. Cloth, ISBN 0472113569, $65.00. 334 pages. This collection of essays is an outgrowth of a Middlebury...

Genetic and Cultural Evolution of Cooperative.(Book Review)
March 1, 2005... Genetic and Cultural Evolution of Cooperation, edited by Peter Hammerstein. Cambridge: MIT Press. 2003. ISBN 0262083264, $45.00. 450 pages. This book is about the emergence of cooperation, in different contexts from molecules to human...

Is the Market Moral? A Dialogue on Religion, Economics, and Justice.(Book Review)
March 1, 2005... Is the Market Moral? A Dialogue on Religion, Economics, and Justice, by Rebecca M. Blank and William McGurn. Washington, D.C.: Brookings Institution Press. 2004. Paper, ISBN 0762307943, $16.95. 151 pages. Seldom does one read a book on...

In memory.(Obituary)
March 1, 2005... Robert Heilbroner 1919-2005 Robert Heilbroner, recipient of AFEE's 1994 Veblen-Commons award, died January 4. He was a professor emeritus at New School University, where he spent his career. Among his many publications was The Worldly...

Books received.
March 1, 2005... AFRICAN DEVELOPMENT BANK. Africa in the Global Trading System: African Development Report 2004. New York: Oxford University Press, 2004. Pp. 337. Paper $29.95. ALESINA, ALBERTO, and EDWARD L. GLAESER. Fighting Poverty in the U.S. and...