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. 39, No. 1, March

A Distrustful Economy: An Inquiry into Foundations of the Russian Market
Strengthening network capitalism implies that a common economic space does not exist even within national borders. Does this mean that one cannot speak about the national market, or economic transactions made on a national scale, in post-Soviet Russia?...
Advances and Challenges in Innovation Studies
The study of innovation is a relatively young and fast-growing branch of social science. Mainly inspired by the work of Joseph Schumpeter and by other research traditions outside the economics mainstream, it has developed as an interdisciplinary field...
Books Received
AFRICAN DEVELOPMENT BANK. Africa in the Global Trading System: African Development Report 2004. New York: Oxford University Press, 2004. Pp. 337. Paper $29.95. ALESINA, ALBERTO, and EDWARD L. GLAESER. Fighting Poverty in the U.S. and Europe: A World...
Dam-Induced Development and Environmental and Social Sustainability: The Bakun Industrialization Strategy Revisited
Malaysia changed rapidly from an agriculturally based economy in the 1960s to an industrially oriented nation in the 1990s. Its rapid industrial development momentum is further intensified under the Malaysian Third Outline Perspective Plan (OPP3) 2001-2010...
Economic Activity and Institutions: Taking Stock
If we start from the premise that institutions are socially constructed (Berger and Luckmann 1966) and that economic activity is socially instituted (Polanyi 1957) and a situated process (Granovetter 1992), we may argue that economic phenomena are,...
Employer of Last Resort: A Response to My Critics
In their responses to my critique of employment of last resort proposals (hereafter ELR), Mat Forstater and Bill Mitchell and Randy Wray raise a range of points, and in this reply I have decided, rather than go through them sequentially, to seek to...
Frank W. Taussig's Institutionalism
In his magisterial treatise, The Economic Mind in American Civilization, Joseph Dorfman argued that despite Frank W. Taussig's liberal editorship of the Quarterly Journal of Economics (QJE henceforth) and his tolerance of heterodox ideas in general,...
In Defense of Employer of Last Resort: A Response to Malcolm Sawyer
While we welcome a chance to discuss the merits of employer of last resort (ELR) proposals, it is difficult to respond to Malcolm Sawyer's (2003) assessment. (1) First, many of his critiques are superficial because he attempts to cover just about every...
Organized Speculation as an Institution: John Franklin Crowell and the U.S. Industrial Commission Report on Distribution of Farm Products
The Journal of Macromarketing in 1987 carried an abstract of a stimulating paper by Scott D. Johnson and Stanley C. Hollander, presented at the twelfth annual Macromarketing Conference held in Montreal. Johnson and Hollander's paper was titled "The...
Preferences, Power, and the Determination of Working Hours
To develop a meaningful understanding of living standards and the distribution of income in capitalist economies, it is important to consider the length of the working day. Since Karl Marx's discussion, in part 4 of Capital's first volume, of relative...
Reply to Malcolm Sawyer
For several years now I have been involved in a project investigating the theoretical and practical possibilities of promoting full employment and price stability in an economy using state money through a government-sponsored job guarantee and management...
The Evolutionary Analysis of Economic Policy
The Evolutionary Analysis of Economic Policy, edited by Pavel Pelikan and Gerhard Wegner. Cheltenham, U.K.: Edward Elgar. 2003. ISBN 1843762250, $100.00. 269 pages. What policy prescriptions fit an economy with individuals bounded in cognition?...
Thorstein Veblen's Views on American "Exceptionalism": An Interpretation
A facet of Thorstein Veblen's thought and the intellectual milieu in which he lived remains inadequately explored and explained. (1) It is his "exceptionalism," that is, his analysis of why Europe and the United States are different. Although Veblen...
U.S. Academic Institutions and Perceived Effectiveness of Foreign-Born Faculty
This paper tests current perceptions of the effectiveness of foreign-born faculty at U.S. universities in order to provide suggestions to support useful institutional change in this arena. An institutional perspective allows an understanding of how...
U.S. Trade Polio: History, Theory, and the WTO
U.S. Trade Polio: History, Theory, and the WTO, 2d ed., by William A. Lovett, Alfred E. Eckes, Jr., and Richard L. Brinkman. Armonk, N.Y., and London: M. E. Sharpe. 2004. Paper, ISBN 0765613085, $25.95. 236 pages, bibliography, and index. This book...
Veblen's "Instinct of Workmanship," Its Cognitive Foundations, and Some Implications for Economic Theory
Chief among those instinctive dispositions that conduce directly to the material well-being of the race, and therefore to its biological success, is perhaps the instinctive bias here spoken of as the sense of workmanship. --Veblen In the early...