Journal of Economic Issues

Founded in 1967, the Journal of Economic Issues is a quarterly journal that publishes articles on economic methodology, economic control and policy problems. It also contains book reviews and proceedings of annual meetings conducted by the Association of Evolutionary Economics, its publisher.It is edited by Richard V. Adkisson.

Articles from Vol. 40, No. 3, September

An Institutional Critique of Recent Attempts to Measure Technological Capabilities across Countries
This paper will be guided by recognition of two points, both of which feature prominently in institutional economics, or, as it is sometimes called, institutionalism. The first point has to do with the centrality of technology to economic growth and...
An Intellectual History of Abundance
Putting Abundance in Context The purpose of this brief exercise in the history of economic thought is to demonstrate that the concept of scarcity has no right to a monopoly position in academic economics. While scarcity has dominated economic analysis...
Asset Price Instability and Policy Responses: The Legacy of Liberalization
The problem of asset price bubbles, and more generally of instability in the financial system, has been a matter of concern since the 1980s but has only recently moved to the center of the macroeconomic policy debate. Among the events contributing...
Books Received
ABBOTT, FREDERICK M., CHRISTINE BREINING-KAUFMANN, and THOMAS COTTIER, eds. International Trade and Human Rights: Foundations and Conceptual Issues. Ann Arbor: University of Michigan Press, 2006. Pp. 383. Cloth $80.00. ARESTIS, PHILIP, MICHELE BADDELEY,...
Can the Wall Street Journal's Economic Forecasters Predict Turning Points?
In this issue of the Journal of Economic Issues, Dr. Taseen has taken The Wall Street Journal survey forecast data originally analyzed by Mark Greer (1999) and extended Greer's analysis to the issue of the prediction of turning points in macroeconomic...
Cultural Species and Institutional Change in China
The State of the (Economic) Art: Reviving Culture without Cultural Analysis Culture is back in economics, with seminal contributions originating in different subdisciplines such as the new institutional economics, applied game theory, and international...
Economic Forecasting Evaluation: Re-Examination of the Track Record of Macroeconomic Forecasting
When a forecasting technique is selected, economists and statisticians would like to evaluate the technique for its ability to forecast accurately. Normally an error--a difference between the actual value and its forecast--is assessed in different...
Erring on the Side of Caution? the Heterogeneity of Public Perceptions of Biotechnology Applications in the European Union
The increasing development of new technologies related to the health and food industries involves both policy makers and society as a whole in decisions on the safety and marketing regulations of new biotechnology products. However, the regulation...
Human Capital Attainment and Female Labor Force Participation-The Kerala Puzzle
An important policy prescription for improving the status of women in India is to improve their educational attainment. Human capital theory suggests that education and training are significant determinants of employment and earnings. Therefore, it...
Public Subsidies of Low-Wage Employment: The Case of Uncompensated Health Care
As real wages have fallen or stagnated for workers at the lower end of the skill distribution and compensation packages have become less likely to contain employment-based health insurance (EBHI), many workers and their families are becoming less able...
Self-Organization and Design in Capitalist Economies
Fluctuations in aggregate variables like output, prices, and employment pervade economic dynamics at all time scales: from minute-to-minute change in a stock price, monthly swings in industrial production, and annual variations in GDP to the longer...
Technology Stability and Change: An Integrated Evolutionary Approach
Today the situation is very different. Tools such as ... agent-based economic computational modeling can be used to put Hamilton's views on evolutionary economic change into action so that heterodox economists can compete more successfully in the arena...
The "Job-Loss" Recovery: Not New, Just Worse
Starting in November 2001, the U.S. economy found itself in the weakest employment recovery since World War II. During the first four year of the business cycle, private-sector employment remained below its prior peak. To maintain consumption, households...
Varieties of Scientific System: From Veblen to the Postmoderns
Thorstein Veblen called for an "evolutionary social science." I respond, because we have yet to reconcile the factors of permanence and change in human behavior, evolutionary science, a systematic account of socioeconomic change, must still be considered...
Veblen's Radical Theory of Social Evolution
The Red Threads in Veblen: Anarchism and Socialism Thorstein Veblen wove two red threads into his tapestry of social theory--anarchism and socialism. They held his theoretical system--his tapestry--together. But they did not fit into the era of...