Journal of Economic Issues articles from September 2004

Journal of Economic Issues archives from September 2004

Evolutionary game theory and Thorstein Veblen's evolutionary economics: is EGT Veblenian?(evolutionary game theory)
September 1, 2004... One of the main criticisms of the "old" school of institutional economics is its lack of formality and of an operational approach that allows the replication of the institutional type of analysis by the academic economic community at large....

Keeping labor productive: Veblen's notion of reserve capacity and procyclical productivity analysis.
September 1, 2004... The technology-productivity puzzle has generated a rancorous debate in economics. Many labor economists claim that computer-related investments have led to structural gains in productivity. Others are skeptical that such high-tech investments...

Evolving technologies and market structures: Schumpeterian gales of creative destruction and the United Kingdom Internet service providers' market.
September 1, 2004... In the United States, there are diverging views on the need for intervention in the Internet service provider (ISP) market. Jason Oxman, representing the Federal Communications Commission (FCC) argued that, given the nascent development of the...

Rural entrepreneurs in Russia and the Ukraine: origins, motivations, and institutional change.(rural business management)
September 1, 2004... One of the key issues confronting both Russia and the Ukraine during the transformation process is the emergence of economic agents that could operate in a market economy. The origin and motivation of entrepreneurship are fundamental issues for...

The French system of direct and indirect family transfers and the principles of justice.
September 1, 2004... In Gosta Esping-Andersen's paradigmatic analysis of welfare capitalism (1990), the French welfare state is classified in the conservative corporatist regime. (1) France is generally recognized as belonging to the Bismarckian family of welfare...

A modest proposal for institutional economics.
September 1, 2004... A modest proposal for institutional economics As we know, it's true to say That, in a universal way, Approval's won, demerit shriven When love is pure and freely given. Sweet Reason copies Passion's art And...

To be a heterodox economist: the contested landscape of American economics, 1960s and 1970s.
September 1, 2004... What was it like to be a heterodox economist in the United States in the 1960s and 1970s? First, with the decline of McCarthyism and the rise of the civil rights and anti-war movements, it was now possible to become a heterodox economist and...

John Rae and Thorstein Veblen.(economists)
September 1, 2004... All that the possessor of the luxury desires, is, to have a means of showing that he has acquired the command of a certain amount of the exertions of other men. --John Rae, Statement of Some New Principles on the Subject of Political...

Adam Smith, Allyn Young, and the division of labor.
September 1, 2004... The division of labor is central to Adam Smith's explanation of growth. (1) For Smith the division of labor is the chief source of productivity gains, in his famous pin factory example, (2) if each man specializes in some particular aspect of...

Megacorporate globalization at bay: the interrelation of David Korten with institutional economics.
September 1, 2004... The tumultuous epoch of megacorporate globalization is upon us; it is in need of systematic analysis for adjustment and reform. The many negative attributes and results emanating from the process have spawned a large and growing anti-corporate,...

Response to Richard Brinkman.(Notes and Communications)(beliefs on capitalism)
September 1, 2004... A couple of years ago Richard Brinkman told me he was writing a paper intended to call my work to the attention of institutional and evolutionary economists and demonstrate its relevance to their disciplines. I was impressed by the overall...

Rejoinder to David C. Korten.(Notes and Communications)(speeches and lectures)
September 1, 2004... I will first address the three basic critiques of my paper raised by David Korten, followed by a brief, general assessment of Korten's "Response." Nature and Origins Korten confuses the date of the conception of capitalism with the...

Suggestions to effectuate a multiparadigmatic approach to the teaching of principles of economics.(Notes and Communications)(teaching of economics)
September 1, 2004... In an important article in this journal, Janet Knoedler and Daniel Underwood (2003) attributed the declining number of economics majors to a rigid adherence to mainstream dogma, which students find irrelevant and divorced from the real world....

"Suggestions to effectuate a multiparadigmatic approach to the teaching of principles of economics": a reply.(Notes and Communications)(teaching of economics)
September 1, 2004... "Teaching the Principles of Economics: A Proposal for a Multi-paradigmatic Approach" examined institutional factors shaping path dependence toward an unnecessarily technical emphasis in undergraduate course content and how this technical...

A resource to evaluate welfare reform: the Survey of Program Dynamics (SPD).(Notes and Communications)(Aid to Families with Dependent Children)
September 1, 2004... The persistence of poverty was a central question surrounding the August 1996 enactment of the Personal Responsibility and Work Reconciliation Act (PRWORA). This legislation dramatically changed both the nature and provision of public...

Institutional Analysis and Economic Policy.
September 1, 2004... Institutional Analysis and Economic Policy, edited by Marc R. Tool and Paul Dale Bush. Boston: Kluwer Academic Publishers. 2002. Cloth, ISBN 1402073089, $159.00. 598 pages. To demonstrate that "[i]nstitutional economics is a...

Reorienting Economics.(Book Review)
September 1, 2004... Reorienting Economics, by Tony Lawson. London: Routledge. 2003. Paper, ISBN 0415253365, $39.95. 416 pages. In setting forth the thesis of this book, Tony Lawson contends that the "mathematical-deductivist" methodology of mainstream...

Complex Systems Theory and Development Practice.(Book Review)
September 1, 2004... Complex Systems Theory and Development Practice, by Samir Rihani. New York: Zed Books. 2002. ISBN 1842770462, $69.95. 280 pages. I enjoyed this book. Much, though not all, of the author's argument will strike a chord among...

Naming the System: Inequality and Work in the Global Economy.(Book Review)
September 1, 2004... Naming the System: Inequality and Work in the Global Economy, by Michael D. Yates. New York: Monthly Review Press. 2003. Paper, ISBN 1583670793, $16.95; cloth, ISBN 1583670807, $75.00. 288 pages. In Praise of Resistance The mediocrity...

The Persistence of Poverty in the United States.(Book Review)
September 1, 2004... The Persistence of Poverty in the United States, by Garth L. Mangum, Stephen L. Mangum, and Andrew M. Sum. Baltimore: Johns Hopkins University Press. 2003. Paper, ISBN 0801871301, $19.95. 134 pages. The design of this book is to provide an...

The Yo-Yo Yen and the Future of the Japanese Economy.(Book Review)
September 1, 2004... The Yo-Yo Yen and the Future of the Japanese Economy, by Brendan Brown. New York: Palgrave. 2002. Cloth, ISBN 0333929497, $65.00. 259 pages. Concerned about the impact of persistent labor market stagnation on his re-election prospects,...

World Financial Orders: an Historical International Political Economy.(Book Review)
September 1, 2004... World Financial Orders: An Historical International Political Economy, by Paul Langley. RIPE Series in Global Political Economy. London: Routledge. 2002. ISBN: 0415255740, $90.00. 192 pages. Paul Langley's World Financial Orders: An...

The Perilous Road to the Market-The Political Economy of Reform in Russia, India, and China.(Book Review)
September 1, 2004... The Perilous Road to the Market-The Political Economy of Reform in Russia, India, and China, by Prem Shankar Jha. London: Pluto Press. 2002. Paper, ISBN 0745318517, $24.95. 300 pages. Prem Jha, a journalist for The Hindustan Times,...

Machine Dreams: Economics Becomes a Cyborg Science.(Book Review)
September 1, 2004... Machine Dreams: Economics Becomes a Cyborg Science, by Philip Mirowski. New York and Cambridge: Cambridge University Press. 2002. Paperback, ISBN: 0521775264, $35.00. 655 pages, references, and index. What is economics? A typical response...

Capital Flows and Crises.(Book Review)
September 1, 2004... Capital Flows and Crises, by Barry Eichengreen. Cambridge: MIT Press. 2003. Cloth, ISBN 0262050676. 377 pages. Eichengreen begins his exploration of the relationship between capital flows and crises with the observation that the Asian...

The Crisis in Economics: the Post-Autistic Economics Movement: the First 600 Days.(Book Review)
September 1, 2004... The Crisis in Economics: The Post-Autistic Economics Movement: The First 600 Days, edited by Edward Fullbrook. London: Routledge. 2003. Cloth, ISBN 0415308976, $110.00. Paper, ISBN 0415308984, $31.95. 226 pages. The post-autistic economics...

Books received.(Directory)
September 1, 2004... 31NETWORK. India Infrastructure Report 2004: Ensuring Value for Money. New York: Oxford University press, 2004. Pp. 347. Paper $35.00. ADAMS, WALTER, and JAMES W. BROCK. The Bigness Complex: Industry, Labor, and Government in the American...