Journal of Economic Issues articles from September 2001

Journal of Economic Issues archives from September 2001

On the Origins of Modern Evolutionary Economics: The Veblen Legend after 100 Years.
September 1, 2001... In July 1898, the Quarterly Journal of Economics published an article by Thorstein Bunde Veblen [1] which became a classic and the purported foundation document of "old," or rather critical or evolutionary, institutionalism. [2] Veblen's...

Money Talks, but What Is It Saying? Semiotics of Money and Social Control.
September 1, 2001... Money is one of the most enigmatic institutions of any economic system, from Lydia in ancient Greece to modern cashless monetary societies. In proportion to money's centrality in capitalism, theorists have studied its nature, roles, and...

Exploring Limits to Material Desire: The Influence of Preferences vs. Plans on Consumption Spending.
September 1, 2001... The current period of economic prosperity in the United States raises a number of questions about the eventuality of continued economic growth into the future. This paper explores one aspect of long-term prosperity, namely, the impetus to...

John R. Commons and Herbert A. Simon on the Concept of Rationality.
September 1, 2001... H. A. Simon and J. R. Commons are known to have been influenced by an intellectual context that explains a large part of their works, but it is worth emphasizing that the concepts of rationality developed by both Simon and Commons are very...

The Changing Rationale for European University Research Funding: Are There Negative Unintended Consequences?
September 1, 2001... In recent years there has been wide-ranging debate on the advantages and drawbacks of the rationale for resource allocation to university research. The post-World War II rationale for public support of science has been challenged by a more...

Keynes' Economic Program, Social Institutions, Ideology, and Property Rights.
September 1, 2001... Conventional economists view the economy as a set of relationships independent of any larger society. The prevailing position is to construct theory by building the argument on the basis of a non-socially determined, hypothetical individual. As...

US Land Policy and the Commodification of Arid Land (1862-1920).
September 1, 2001... In 1923 my paternal grandmother, Elise Saxe Krall, "proved up" (gained title) on a 160-acre homestead in southwestern Wyoming. My grandfather, William Krall, had taken out the claim in May of 1918, one month after the birth of my father. My...

Capital Concentration and Market Power in Mexico's Manufacturing Industry: Has Trade Liberalization Made a Difference?
September 1, 2001... "It's very sad... We don't have a middle class in Mexico. We have the worst distribution of income in the world. We only compare with Africa." [1] --Vicente Fox, President of Mexico Mexico has long been known for its unequal...

Economic Policy in France and Italy since the War: Different Stances, Different Outcomes?
September 1, 2001... Fifty years ago, France and Italy had two very different economies. Though agriculture still loomed large in both, its weight in total employment was much higher in Italy (45 versus 28 percent in 1950). French income per capita (at purchasing...

Cheering for a Team No Longer on the Field: Rhetoric and Reality in American Welfare History.
September 1, 2001... In an article in this journal in June 1998, William S. Kern argued that the welfare "reform" act of 1996, formally the Personal Responsibility and Work Opportunities Reconciliation Act, was in essence a return to the political economy of Poor...

Reply to Professor Levine on Rhetoric and Reality in American Welfare History.
September 1, 2001... I largely agree with Professor Levine's conclusion that the impact of the application of the principles of 1834 on contemporary welfare reform is "far more potent rhetorically than it is in fact" (733) and that "the slowly expanding mild...

Comment Provoked by Mason's "Duesenberry's Contribution to Consumer Theory".
September 1, 2001... The excellent article by Roger Mason (Journal of Economic Issues, September 2000) concerning James Duesenberry's Income, Saving and The Theory of Consumer Behavior is worthy of further attention. The author suggests that the major reason for...

Perspectives on the Guaranteed Income, Part I.
September 1, 2001... A review of six books on guaranteed income: Arguing for Basic Income: Ethical Foundations for a Radical Reform, edited by Philippe Van Parijs. New York: Verso, 1992. Real Freedom for All: What (if Anything) Can Justify Capitalism? by...

WHICH LENDER OF LAST RESORT FOR EUROPE?(Review)
September 1, 2001... WHICH LENDER OF LAST RESORT FOR EUROPE? Edited by C. A. E. Goodhart. London: Central Banking Publications, 2000. Pp. 256. As the title suggests, the focus of Which Lender of Last Resort for Europe? is rather narrow. All of the essays in the...

CONTESTS FOR CORPORATE CONTROL: CORPORATE GOVERNANCE AND ECONOMIC PERFORMANCE IN THE UNITED STATES AND GERMANY.(Brief Article)(Review)
September 1, 2001... CONTESTS FOR CORPORATE CONTROL: CORPORATE GOVERNANCE AND ECONOMIC PERFORMANCE IN THE UNITED STATES AND GERMANY. By Mary A. O'Sullivan. New York City: Oxford University Press, 2000. Pp. xiii, 332. $70.00. A Gem of a Book Mary...

WALL STREET CAPITALISM: THE THEORY OF THE BONDHOLDTNG CLASS.(Review)
September 1, 2001... WALL STREET CAPITALISM: THE THEORY OF THE BONDHOLDTNCi CLASS. By E. Ray Canterbery. River Edge, N.J.: World Scientific Publishing Co., 2000. 327 pages. Canterbery's text is an informative and provocative examination of elite economic...

CLASS WAR IN AMERICA: HOW ECONOMIC AND POLITICAL CONSERVATIVES ARE EXPLOITING LOW-AND MIDDLE-INCOME AMERICANS.(Review)
September 1, 2001... CLASS WAR IN AMERICA: HOW ECONOMIC AND POLITICAL CONSERVATIVES ARE EXPLOITING LOW- AND MIDDLE-INCOME AMERICANS. By Charles M. Kelly. Santa Barbara, Calif.: Fithian Press, 2000. 237 pages. $15.95. Charles M. Kelly calls his book Class War in...

THE IMAGINARY TIME BOMB: WHY AN AGEING POPULATION IS NOT A SOCIAL PROBLEM.(Review)
September 1, 2001... THE IMAGINARY TIME BOMB: WHY AN AGEING POPULATION IS NOT A SOCIAL PROBLEM. By Phil Mullan. London: I. B. Taurus & Co Ltd., 2000. Pp. 239, $39.30. "It is indisputable that all advanced industrial societies are ageing. This book, though, has...

PENSION FUND CAPITALISM.(Review)
September 1, 2001... PENSION FUND CAPITALISM. By Gordon L. Clark. New York City: Oxford University Press, 2000. 342 pages. Paper $29.95. This book is about pension institutions in the larger context of the finance industry, bridging from these related...

THE ECONOMIC CHALLENGE FOR EUROPE: ADAPTING TO INNOVATION BASED GROWTH.(Review)
September 1, 2001... THE ECONOMIC CHALLENGE FOR EUROPE: ADAPTING TO INNOVATION BASED GROWTH. Edited by Jan Fagerberg, Paolo Guerrieri, and Bart Verspagen. Cheltenham: Edward Elgar, 1999. $90.00. This is a collection of papers funded by the European Union and...

TEETERING ON THE RIM: GLOBAL RESTRUCTURING, DAILY LIFE, AND THE ARMED RETREAT OF THE BOLIVIAN STATE.(Review)
September 1, 2001... TEETERING ON THE RIM: GLOBAL RESTRUCTURING, DAILY LIFE, AND THE ARMED RETREAT OF THE BOLIVIAN STATE. By Lesley Gill. Armonk, New York: Columbia University Press, 2000. Pp. 222. $49.50. The book promises much in its title. The thesis of the...

ECOLOGICAL ECONOMICS.
September 1, 2001... ECOLOGICAL ECONOMICS. By Peter Soderbaum, London, Earthscan Publishers Limited, 2000, Pp. 225, $69.95 cloth/$25.00 paper. In Ecological Economics, Peter Soderbaum presents an open-minded approach to studying environmental problems. He...

SWEATSHOPS ON WHEELS: WINNERS AND LOSERS IN TRUCKING DEREGULATION.(Review)
September 1, 2001... SWEATSHOPS ON WHEELS: WINNERS AND LOSERS IN TRUCKING DEREGULATION. By Michael H. Belzer. New York: Oxford University Press, 2000. Pp. xi, 256. Cloth $35.00. This book should be of considerable interest to institutional economists studying...

THE BALTIC STATES AFTER INDEPENDENCE.(Review)
September 1, 2001... THE BALTIC STATES AFTER TNDEPENDENCE. By Ole Norgaard and Lars Johannsen. Cheltenham, UK: Edward Elgar, 1999. Pp. 241. $90 cloth. In the spring of 1991 I had the opportunity to teach at Latvia University in Riga. Most of my students,...

CHINESE BUSINESS GROUPS: THE STRUCTURE AND IMPACT OF INTERFIRM RELATIONS DURING ECONOMIC DEVELOPMENT.(Review)
September 1, 2001... CHINESE BUSINESS GROUPS: THE STRUCTURE AND IMPACT OF INTERFIRM RELATIONS DURING ECONOMIC DEVELOPMENT. By Lisa A. Keister. New York: Oxford University Press, 2000. Pp. 220. Lisa Keister's book is divided into two parts. The first part...