American Economist

Publishes graduate and undergraduate student essays and articles on all areas of economics research. The essays cover current developments in pure and applied economics. This is the official journal of Omicron Delta Epsilon, the international honor societ

Articles from Vol. 48, No. 1, Spring

Franco Modigliani: 1918-2003, in Memoriam
On September 25, 2003 the profession of economics and finance lost one of its prominent players. Born in Italy in 1918, Professor Franco Modigliani demonstrated his exceptional abilities when he enrolled in the University of Rome at the age of seventeen,...
Information and the Change in the Paradigm in Economics, Part 2
APPLICATIONS OF THE NEW PARADIGM The new theory of the firm and the foundations of modern macro-economics Of all the market failures, the extended periods of underutilization of resources--especially human resources--is of the greatest moment,...
On Entrepreneurship, Growth and Rent-Seeking: Henry George Updated
Progress and Poverty, that memorable work of Henry George, leaves us with three main messages: first, that the rent of land is an egregious contributor to inequality; second, that rent, unlike other income sources, can be taxed without detrimental...
The Sensitivity Analysis of the FHA Technique of Housing Market Analysis: The Effect of Ratios and Variables, and Their Perturbations on Family and Elderly Demand Estimates
Introduction In their celebrated article, Klein and Kosobud (1961, 178) had pioneered the use of both "fundamental parameters" and "simple ratios" in economic theory. Housing economists had been following the FHA techniques by focusing on such parameters...
The Strategic Use of Convertible Debt in "Deep Pocket" Predatory Games
1. Introduction The purpose of this study is to extend Poitevin (1989) to demonstrate that noncallable convertible debt can be used to avoid predation by an incumbent firm against an entrant in a "deep pocket" predatory game. The deep pocket argument,...