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. 35, No. 4, December

All Work and No Play? A Comment on Prasch's "Reassessing the Labor Supply Curve". (Notes and Communications)
********** In a recent paper in this journal, Robert E. Prasch (2000) offered a timely commentary on the problematical status of the standard labor supply curve. His key argument was that the marginal utility of leisure time is negative at low levels...
Bounded Rationality, Institutions, and Uncertainty
********** The notion of bounded rationality, originally developed by Herbert Simon, has occupied an important place in many discussions about an alternative to neoclassical economics. Some of these discussions take place within the so-called "old"...
Culture, Cognitive Models, and the Performance of Institutions in Transformation Countries
********** The Heterogeneity of Progress and Performance Assuming that Central and Eastern Europe lacked the political, legal, economic, and social institutions of a market economy, it has generally been argued that only far-reaching institutional...
Dimensions of the Worldwide Merger Boom
********** The capstone of the worldwide merger activities of the 1990s occurred within the first five weeks of 2000 with the announced $165 billion planned purchase of Time-Warner by America Online and the $183 billion takeover of Mannesmann by...
Integrating Schumpeter and Keynes: Hyman Minsky's Theory of Capitalist Development
********** In a number of books and articles, Hyman P. Minsky influenced many of today's institutional and Post Keynesian economists. In fact, Minsky often chose the pages of this journal as the place to present and extend his Wall Street paradigm,...
Kickin'em While They're Down: Consumer Bankruptcy Reform
********** Consumer bankruptcy in the United States has taken on increased importance in the last few years for two reasons. First, until 1998, there had been a five-year trend of increasing consumer bankruptcies. (1) Second, proposals for significant...
Paternalistic Human Resource Practices: Their Emergence and Characteristics
********** Paternalistic human resource practices (hereafter referred to as "paternalistic HR practices") originated from patriarchism. By definition, patriarchism is a form of social organization in which the father is the supreme authority and...
Perspectives on the Guaranteed Income, Part II
********** A review of nine books on the guaranteed income: Freedom and Security: An Introduction to the Basic Income Debate. By Tony Fitzpatrick. St. Martin's Press, Inc., 1999. Basic Income: Economic Security for All Canadians. By Sally...
Scientific Management, Institutionalism, and Business Stabilization: 1903-1923
********** The greatest economic event of the nineteenth century occurred when Frederick W. Taylor first held a stop watch on the movements of a group of shovellers in the plant of the Midvale Steel Company. Rexford Tugwell (1) The nexus between...
The Influence of Veblen's Theory of the Leisure Class on Rural Sociologist Fred Roy Yoder
********** This is the third in my trilogy of Journal of Economic Issues articles about selected rural social scientists that studied under and were influenced by the institutional economics of Thorstein B. Veblen. Each scientist was influenced...
To the Rescue or to the Abyss: Notes on the Marx in Keynes
********** The General Theory of Employment, Interest, and Money of 1936 is missing a line of argument that is prominent in an earlier draft. In the 1933 draft, John Maynard Keynes used a taxonomic framework to differentiate the classical theory...
Work, Leisure, and the Labor Supply Curve: A Reply to David Spencer. (Notes and Communications)
********** Introduction: The Context of My Earlier Paper Dr. David Spencer's comment on my recent article in this journal is a welcome reflection on the issues that I tried to raise (Prasch 2000a). In general, I believe that our differences are...