Journal of Economic Issues articles from September 1994

Journal of Economic Issues archives from September 1994

The death and rebirth of entrepreneurism on Negros Island, Philippines: a critique of cultural theories of enterprise.
September 1, 1994... The past few years have witnessed a spate of books and articles by social scientists and journalists on the role of culture in economic development. This new interest--actually a renewal of interest in a once-fashionable subject that had become...

Postmodernism and institutionalism: toward a resolution of the debate on relativism.
September 1, 1994... Brown, Doug. "An Institutionalist Look at Postmodernism." Journal of Economic Issues 26, no. 4 (December 1991): 1089-1104. Bush, Paul D. "Institutionalist Methodology and Hermeneutics: A Comment on Mirowski." Journal of Economic Issues 23, no....

Economic reform and the employment of Chinese women.
September 1, 1994... In its transformation to a more market-oriented economy, China has avoided the massive unemployment problems that have plagued Poland and Germany. Rapid growth has supported new opportunities in both the city and countryside. Surplus labor...

The new speculative stock market: why the weak immunizing effect of the 1987 crash?
September 1, 1994... The great bull market in stocks, which to many symbolized the era of Reaganomics, ended in the worst stock market crash in history on October 19, 1987. After rising from 777 in August 1982 to 2722 in August 1987, the Dow Jones industrial...

Three reasons for investing now in fossil fuel conservation: technological lock-in, institutional inertia, and oil wars.
September 1, 1994... A growing number of scientific researchers and political leaders have urged prompt conservation of fossil fuels by investing immediately in energy-efficient vehicles, machinery, and structures and by gradually shifting to alternative sources of...

On Gray's rule and the stylized facts of non-renewable resources.
September 1, 1994... The economics of non-renewable resources is composed of at least two branches. The better-known branch owes much to a famous paper by Harold Hotelling [1931], which most economists consider to be the first modern article in the field....

Economic regulation and the social contract: an appraisal of recent developments in the social control of telecommunications.
September 1, 1994... "When I use a word," Humpty Dumpty said, in a rather scornful tone, "it means just what I choose it to mean-neither more nor less." "The question is, " said Alice, "whether you can make words mean so many different things." "The question is, "...

The "structure-unionism-wage" paradigm in labor economics: resolving the stalemate.
September 1, 1994... The "structure-conduct-performance" paradigm in industrial organization finds its counterpart in labor economics in what can be termed the "structure-unionism-wage" paradigm, which suggests that unions organizing in industries in concentrated...

The "fatal flaw" of classical economics: aspects of Keynes's evolution from 'The Treatise' to the 'General Theory.'
September 1, 1994... The theme of this article is that Keynes's "revolution" in The General Theory of Employment, Interest and Money (GT) evolved out of earlier work, particularly his A 7realise on Money (TM). The continuity between these two works suggests that...

A note on the evolution of Homo economicus. (Notes and Communications)
September 1, 1994... Men act as they do--they are what they are--because of the societies in which they live. --Ayres, 1952 Decision rules are of paramount importance to economic analysis, and appropriately much debate has revolved around the nature of human...

Comment on "The Meaning of Anthropology for Economic Science: A Case for Intellectual Reciprocity." (Notes and Communications)
September 1, 1994... We applaud the premises and purpose of Professor Hamilton's December 1991 article: that the discipline of economics, and most notably institutional economics, should adopt the methods and attitudes as well as the data and analyses of...

Comments on Schaniel and Neale's comments on Hamilton. (response to article by William C. Schaniel and Walter C. Scheele in this issue, p. 884) (Notes and Communications)
September 1, 1994... As one never particularly apt at scholarly disputation, especially that which takes place in the backs of journals, my first inclination was to pass on the offer to comment on the Schaniel/Neale objections to my interpretation of Polanyi. I...

A modest proposal for a new technique of non-diversionary public spending. (Notes and Communications)
September 1, 1994... There are two imperatives currently dominating the formation of public policy in the United States. The first is an economic imperative: to heal, repair, and stimulate a laggard economy in the reemployment of human and material resources. The...

About double organized markets: issues of competition and cooperation. The Dutch construction cartel: an illustration. (Notes and Communications)
September 1, 1994... European integration aims at increased efficiency. Trade will increase, and because of increased competition, management will be pressed to perform more efficiently. It is generally felt that cartels should be eliminated because they frustrate...

Dillard on Proudhon. (economist Dudley Dillard; social reformer Pierre Joseph Proudhon) (Notes and Communications)
September 1, 1994... I am delighted to see the several articles recently devoted to the economic thought of Dudley Dillard in the Journal of Economic Issues [June 1993]. During the year that Dillard was an instructor in economics at my institution, the University...

A comment on "Accountants and the Price System: The Problem of Social Costs." (response to article by Donald R. Stabile, Journal of Economic Issues, p. 178, v. 27, March 1993)
September 1, 1994... Professor Donald R. Stabile's recent analysis of social cost accounting places the efforts of social accountants in an interesting institutional context. A central theme of the analysis is that "social cost accounting has not provided useful...

History and Hunger in West Africa: Food Production and Entitlement in Guinea-Bissau and Cape Verde.
September 1, 1994... By Laura Bigman. Westport, Conn.: Greenwood Press, 1993. Pp. 149. The countries of Lusophone Africa probably get less written about them in English now that they are independent than they did when they were struggling against the Portuguese....

Structural Economic Dynamics: A Theory of the Consequences of Human Learning.
September 1, 1994... By Luigi L. Pasinetti. New York: Cambridge University Press, 1993. Pp. xx, 186. $44.95. Luigi Pasinetti is a major figure of the "Cambridge" school of Keynesian economics and is often mentioned alongside Robinson, Kalecki, or Kaldor. Where...

The Stratified State: Radical Institutionalist Theories of Participation and Duality.
September 1, 1994... Edited by William M. Dugger and William T. Waller, Jr. Armonk, N.Y.: M.E. Sharpe, 1992. Pp. 271. $45.00. Ronald Reagan was elected president by claiming that government was the root cause of all that was evil in our land, while Bill Clinton...

The Economics of Middle East Peace: Views from the Region.
September 1, 1994... Edited by Stanley Fischer, Dani Rodrik, and Elias Tuma. Cambridge: The MIT Press, 1993. Pp. xiii, 370. $42.50 (cloth). The Israeli-Palestinian peace accord in September 1993 came as a surprise to many political observers of the middle East....

Black Women and White Women in the Professions.
September 1, 1994... By Natalie J. Sokoloff. New York: Routledge, 1992. Pp. 175. $16.95. Several of my male students have expressed concerns about finding employment after graduation. Their concerns are genuine. Today, the demand for college graduates with...

Upward Dreams, Downward Mobility: The Economic Decline of the American Middle Class.
September 1, 1994... By Frederick R. Strobel Lanham: Rowman and Littlefield Publishers, Inc., 1993. Pp. 229. $21.95 cloth). As the decade of the 1980s came to an end, economists associated with the Reagan administration congratulated themselves on the "Reagan...

Jones's Minimal: Low Wage Trend in the United States.
September 1, 1994... By David Griffith. Albany: State University of New York Press, 1993. Pp. 266. $14.94 (paper), $44.50 (cloth). As the decade of the 1980s came to an end, economists associated with the Reagan administration congratulated themselves on the...

Economics and Evolution: Bringing Life Back into Economics.
September 1, 1994... By Geoffrey M. Hodgson. Cambridge: Polity Press, 1993. Pp. xi, 381. One of the interesting features of economic debate as we move to the close of the twentieth century is the growing number of parallels that can be drawn with religious...

Small Change: The Economics of Child Support.
September 1, 1994... By Andrea H. Beller and John W. Graham. New Haven: Yale University Press, 1993. Pp. 338. American children are mired in poverty. Child poverty has risen dramatically since the late 1960s and now exceeds 21 percent. In addition, poverty rates...

Markets and Democracy: Participation, Accountability and Efficiency.
September 1, 1994... Edited by Samuel Bowles, Herbert Gintis and Bo Gustafsson. Cambridge: Cambridge University Press, 1993. Pp. xviii, 340. $54.95. Do not let the price of this book deter you from adding it to your university's library. This is a large volume,...

Mass Immigration and the National Interest.
September 1, 1994... By Vernon M. Briggs, Jr. New York: M. E. Sharpe, Inc., 1992. Pp. 275. $49.95 (cloth), $19.95 (paper). Because of the dearth of careful theoretical and historical analyses, the effects of emigration and immigration on national employment,...

Comparative Studies in Local Economic Development: Problems in Policy Implementation.
September 1, 1994... Edited by Peter B. Meyer. Westport, Conn.: Greenwood Press, 1993. Pp. 202. $59.95. Urban and regional economic development as a policy study seems to have drifted somewhat out of fashion as the focus has swung to problems and issues...

Institutional Economics Revisited.
September 1, 1994... By Shigeto Tsuru. (The Raffaele Matteoli Foundation Lectures). Cambridge: Cambridge University Press, 1993. Pp. xii, 205. $44.95. This book by Professor Tsuru is not what I had anticipated from the title--it is not a major study of...

The Philosophy of Science, and Economics.
September 1, 1994... By Roberta. Solo. Armonk, N.Y.: M.E. Sharpe, Inc., 1991. Pp. 138. Over the course of a long and admirable career, Robert Solo has written a host of books and articles exploring the interrelated dimensions of our evolving economic reality. He...

Bankrupt, Restoring the Health and Profitability of our Banking System.
September 1, 1994... By Lowell L. Bryan. Harper Business, 1991. Pp. x, 314. Banking crises have a way of stimulating systemic thinking. The reforms proposed in these books are responses to the policy challenge posed by the recent widespread losses of banks in the...

The Future of Banking.
September 1, 1994... Banking crises have a way of stimulating systemic thinking. The reforms proposed in these books are responses to the policy challenge posed by the recent widespread losses of banks in the United States and the associated increase in bank failures...