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. 38, No. 1, March

A Model of Network Capitalism: Basic Ideas and Post-Soviet Evidence
Localized Transactions as a Subject of Study Modern discussions on network capitalism shed light on the thesis about the existence of a plurality of models of capitalism. According to a quantitative evaluation of managerial and economic literature,...
Analyzing Job Mobility with Job Turnover Intentions: An International Comparative Study
A considerable amount of research on labor turnover and job search behavior exists in economics (for example, Belzil 1996; Farber 1994; Lillien and Hall 1986; Parsons 1991; Schettkat 1996; Veum 1997). This is not surprising since labor turnover and...
Assessing Deregulation: The Clash between Promise and Reality
There is a general consensus that public utility services such as electricity, natural gas, telecommunications, and water are an integral part of the infrastructure of modern society. These services are typically provided by complex systems of capital-intensive...
Books Received
AFRICAN DEVELOPMENT BANK. African Development Report 2003: Globalization and Africa's Development. New York: Oxford University Press, 2003. Pp. 316. Paper $26.00. ALESINA, ALBERTO, and ENRICO SPOLAORE. The Size of Nations. Cambridge: MIT Press,...
Confronting Consumption
edited by Thomas Princen, Michael Maniates, and Ken Conca. Cambridge: MIT Press. 2002. Paper, ISBN: 0262661284, $29.99; cloth, ISBN: 0262162083, $75.00. 382 pages. Consumerism is a term with a rather strange metamorphosis. It first began to appear...
Endogenous Preferences and Embeddedness: A Reappraisal of Karl Polanyi
Economic Activity is motivated by social obligation and regulated by the moral context that governs social life in general. --J. R. Stanfield, Karl Polanyi and Contemporary Economic Thought Karl Polanyi's contributions to social theory are widely...
Healthy Economics Healing Autistic Accounting Theory: Visiting a Neglected Area of Institutional Economics
In June 2000, French students of economics rose up in revolt against the economics that they were being taught, coming to world attention with a student petition against autisme-economie (autistic economics), declaring, as their second point: The...
Institutions and Land-Use Conflicts: Harm, Dispute Processing, and Transactions
Land-use conflicts arise from clashing beliefs about the social role of land and the ends to which land shall be put. These conflicts are then situated in socially constructed contexts, such as growth management, farmland preservation, tax assessment,...
Karl Mannheim, Max Weber, and the Problem of Social Rationality in Thorstein Veblen
Karl Mannheim (1893-1947), Max Weber (1864-1920), and Thorstein Veblen (1857-1929) all considered the role of social rationality in human affairs. Yet Veblen's version of social rationality has never been adequately examined using the conceptual and...
On Institutional Rationality
This paper develops a concept of rationality which is consistent with the institutional approach to human behavior. To many the term rationality has come to be associated with one particular thesis of mental operation, namely the maximizing neoclassical...
Planning in the Housing Market and Bellamy's Influence on Private Governments
It is difficult to draw a man out of his own circle to interest him in the destiny of the state, because he does not clearly understand what influence the destiny of the state can have upon his own lot. But if it is proposed to make a road cross the...
Policy Option: Tort Law versus Social Insurance as Solutions to Certain Medical Problems
It seems to be the case that some percentage of people will be unequivocally adversely affected by medical and other products. Some people have suffered from various flu vaccines, notably the one whose use was promoted by President Gerald Ford. Some...
Policy Orthodoxies, the Minimum Wage, and the Challenge of Social Science
It has long been an orthodoxy in economics that increases in the minimum wage will result in reductions in employment. Based on a strong theoretical construct with strong policy implications, this orthodoxy bas been buttressed by numerous studies showing...
The Market as Traffic-An Economic Metaphor
"[T]he market is ... a traffic in claims, not in things," wrote John F. A. Taylor (1966). In that assertion, Taylor suggested that the analysis of market behavior may be more complex than many economists are prepared to contemplate even though most...
The Three Laws of Thermodynamics and the Theory of Production
The paper takes issue with Nicholas Georgescu-Roegen's interpretation of the second law of thermodynamics (entropy law) and its relevance to the economics of production. The paper concurs with experts on thermodynamics that Georgescu-Roegen has committed...
Towards a Well-Functioning Economy: The Evolution of Economic Systems and Decision-Making
by Louis Haddad. Cheltenham, U.K.: Edward Elgar. 2002. Cloth, ISBN: 1858988926, $110.00. 294 pages. The author intends "to see how and why economic systems work and change across time and space, and to establish some plausible conditions for a well-functioning...
Veblen's Theory of Finance Capitalism and Contemporary Corporate America
The modern conservative is engaged in one of man's oldest exercises in moral philosophy; that is, the search for a superior moral justification for selfishness. --John Kenneth Galbraith One of the myths of U.S. capitalism is that major economic...