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. 28, No. 3, September

About Double Organized Markets: Issues of Competition and Cooperation. the Dutch Construction Cartel: An Illustration
European integration aims at increased efficiency. Trade will increase, and because of increased competition, management will be pressed to perform more efficiently. It is generally felt that cartels should be eliminated because they frustrate the...
A Comment on "Accountants and the Price System: The Problem of Social Costs." (Response to Article by Donald R. Stabile, Journal of Economic Issues, P. 178, V. 27, March 1993)
Professor Donald R. Stabile's recent analysis of social cost accounting places the efforts of social accountants in an interesting institutional context. A central theme of the analysis is that "social cost accounting has not provided useful concepts...
A Modest Proposal for a New Technique of Non-Diversionary Public Spending
There are two imperatives currently dominating the formation of public policy in the United States. The first is an economic imperative: to heal, repair, and stimulate a laggard economy in the reemployment of human and material resources. The second...
A Note on the Evolution of Homo Economicus
Men act as they do--they are what they are--because of the societies in which they live. --Ayres, 1952 Decision rules are of paramount importance to economic analysis, and appropriately much debate has revolved around the nature of human decision...
Comment on "The Meaning of Anthropology for Economic Science: A Case for Intellectual Reciprocity." (Notes and Communications)
We applaud the premises and purpose of Professor Hamilton's December 1991 article: that the discipline of economics, and most notably institutional economics, should adopt the methods and attitudes as well as the data and analyses of anthropology into...
Comments on Schaniel and Neale's Comments on Hamilton
As one never particularly apt at scholarly disputation, especially that which takes place in the backs of journals, my first inclination was to pass on the offer to comment on the Schaniel/Neale objections to my interpretation of Polanyi. I much prefer...
Dillard on Proudhon
I am delighted to see the several articles recently devoted to the economic thought of Dudley Dillard in the Journal of Economic Issues [June 1993]. During the year that Dillard was an instructor in economics at my institution, the University of Delaware,...
Economic Reform and the Employment of Chinese Women
In its transformation to a more market-oriented economy, China has avoided the massive unemployment problems that have plagued Poland and Germany. Rapid growth has supported new opportunities in both the city and countryside. Surplus labor continues...
Economic Regulation and the Social Contract: An Appraisal of Recent Developments in the Social Control of Telecommunications
"When I use a word," Humpty Dumpty said, in a rather scornful tone, "it means just what I choose it to mean-neither more nor less." "The question is, " said Alice, "whether you can make words mean so many different things." "The question is, " said Humpty...
On Gray's Rule and the Stylized Facts of Non-Renewable Resources
The economics of non-renewable resources is composed of at least two branches. The better-known branch owes much to a famous paper by Harold Hotelling [1931], which most economists consider to be the first modern article in the field. Hotelling's main...
Postmodernism and Institutionalism: Toward a Resolution of the Debate on Relativism
Brown, Doug. "An Institutionalist Look at Postmodernism." Journal of Economic Issues 26, no. 4 (December 1991): 1089-1104. Bush, Paul D. "Institutionalist Methodology and Hermeneutics: A Comment on Mirowski." Journal of Economic Issues 23, no. 4 (December...
The Death and Rebirth of Entrepreneurism on Negros Island, Philippines: A Critique of Cultural Theories of Enterprise
The past few years have witnessed a spate of books and articles by social scientists and journalists on the role of culture in economic development. This new interest--actually a renewal of interest in a once-fashionable subject that had become moribund--has...
The "Fatal Flaw" of Classical Economics: Aspects of Keynes's Evolution from 'The Treatise' to the 'General Theory.'
The theme of this article is that Keynes's "revolution" in The General Theory of Employment, Interest and Money (GT) evolved out of earlier work, particularly his A 7realise on Money (TM). The continuity between these two works suggests that their central...
The New Speculative Stock Market: Why the Weak Immunizing Effect of the 1987 Crash?
The great bull market in stocks, which to many symbolized the era of Reaganomics, ended in the worst stock market crash in history on October 19, 1987. After rising from 777 in August 1982 to 2722 in August 1987, the Dow Jones industrial average fell...
The "Structure-Unionism-Wage" Paradigm in Labor Economics: Resolving the Stalemate
The "structure-conduct-performance" paradigm in industrial organization finds its counterpart in labor economics in what can be termed the "structure-unionism-wage" paradigm, which suggests that unions organizing in industries in concentrated product...
Three Reasons for Investing Now in Fossil Fuel Conservation: Technological Lock-In, Institutional Inertia, and Oil Wars
A growing number of scientific researchers and political leaders have urged prompt conservation of fossil fuels by investing immediately in energy-efficient vehicles, machinery, and structures and by gradually shifting to alternative sources of energy....