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. 3, September

Adam Smith, Allyn Young, and the Division of Labor
The division of labor is central to Adam Smith's explanation of growth. (1) For Smith the division of labor is the chief source of productivity gains, in his famous pin factory example, (2) if each man specializes in some particular aspect of pin making,...
A Modest Proposal for Institutional Economics
A modest proposal for institutional economics As we know, it's true to say That, in a universal way, Approval's won, demerit shriven When love is pure and freely given. Sweet Reason copies Passion's art And Cupid's telos leads the...
A Resource to Evaluate Welfare Reform: The Survey of Program Dynamics (SPD)
The persistence of poverty was a central question surrounding the August 1996 enactment of the Personal Responsibility and Work Reconciliation Act (PRWORA). This legislation dramatically changed both the nature and provision of public assistance/welfare...
Evolutionary Game Theory and Thorstein Veblen's Evolutionary Economics: Is EGT Veblenian?
One of the main criticisms of the "old" school of institutional economics is its lack of formality and of an operational approach that allows the replication of the institutional type of analysis by the academic economic community at large. Clearly...
Evolving Technologies and Market Structures: Schumpeterian Gales of Creative Destruction and the United Kingdom Internet Service Providers' Market
In the United States, there are diverging views on the need for intervention in the Internet service provider (ISP) market. Jason Oxman, representing the Federal Communications Commission (FCC) argued that, given the nascent development of the relatively...
Institutional Analysis and Economic Policy
Institutional Analysis and Economic Policy, edited by Marc R. Tool and Paul Dale Bush. Boston: Kluwer Academic Publishers. 2002. Cloth, ISBN 1402073089, $159.00. 598 pages. To demonstrate that "[i]nstitutional economics is a policy-oriented science"...
John Rae and Thorstein Veblen
All that the possessor of the luxury desires, is, to have a means of showing that he has acquired the command of a certain amount of the exertions of other men. --John Rae, Statement of Some New Principles on the Subject of Political Economy ...
Keeping Labor Productive: Veblen's Notion of Reserve Capacity and Procyclical Productivity Analysis
The technology-productivity puzzle has generated a rancorous debate in economics. Many labor economists claim that computer-related investments have led to structural gains in productivity. Others are skeptical that such high-tech investments are behind...
Megacorporate Globalization at Bay: The Interrelation of David Korten with Institutional Economics
The tumultuous epoch of megacorporate globalization is upon us; it is in need of systematic analysis for adjustment and reform. The many negative attributes and results emanating from the process have spawned a large and growing anti-corporate, globalization...
Rejoinder to David C. Korten
I will first address the three basic critiques of my paper raised by David Korten, followed by a brief, general assessment of Korten's "Response." Nature and Origins Korten confuses the date of the conception of capitalism with the origin of...
Response to Richard Brinkman
A couple of years ago Richard Brinkman told me he was writing a paper intended to call my work to the attention of institutional and evolutionary economists and demonstrate its relevance to their disciplines. I was impressed by the overall knowledge...
Rural Entrepreneurs in Russia and the Ukraine: Origins, Motivations, and Institutional Change
One of the key issues confronting both Russia and the Ukraine during the transformation process is the emergence of economic agents that could operate in a market economy. The origin and motivation of entrepreneurship are fundamental issues for researchers...
Suggestions to Effectuate a Multiparadigmatic Approach to the Teaching of Principles of Economics
In an important article in this journal, Janet Knoedler and Daniel Underwood (2003) attributed the declining number of economics majors to a rigid adherence to mainstream dogma, which students find irrelevant and divorced from the real world. To reverse...
"Suggestions to Effectuate a Multiparadigmatic Approach to the Teaching of Principles of Economics": A Reply
"Teaching the Principles of Economics: A Proposal for a Multi-paradigmatic Approach" examined institutional factors shaping path dependence toward an unnecessarily technical emphasis in undergraduate course content and how this technical emphasis in...
The French System of Direct and Indirect Family Transfers and the Principles of Justice
In Gosta Esping-Andersen's paradigmatic analysis of welfare capitalism (1990), the French welfare state is classified in the conservative corporatist regime. (1) France is generally recognized as belonging to the Bismarckian family of welfare states...
To Be a Heterodox Economist: The Contested Landscape of American Economics, 1960s and 1970s
What was it like to be a heterodox economist in the United States in the 1960s and 1970s? First, with the decline of McCarthyism and the rise of the civil rights and anti-war movements, it was now possible to become a heterodox economist and even find...