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. 31, No. 1, March

A Comparative Analysis of Cases of Conflictual Labor Relations in the Corn Processing, Steel, Paper, and Coal Industries
The role of strategic choice in firm responses to competitive pressures, the changing character of approaches to labor relations, and the effects of both of these on organizational performance have gained widespread attention in the globally competitive...
A Note on "In Defense of Minimum Wage." (Response to Robert Prasch, Journal of Economic Issues, Vol. 30, P. 391, 1996)(includes Reply)
Robert E. Prasch, in his article "In Defense of the Minimum Wage" [1996], criticizes the "conventional wisdom" on the effects of a minimum wage. His arguments, which center on effective demand and economic growth, "transformational" growth, and economic...
A Note on the Intellectual Connection between Albert Einstein and Thorstein Veblen
At the 1995 annual AFEE meetings in Washington, I presented a paper on the role of physics in early twentieth century institutional and neoclassical economics [Ganley 1995]. A secondary point of the paper was the suggestion that Albert Einstein and Thorstein...
From "Mom and Pop" to Wal-Mart: The Impact of the Consumer Goods Pricing Act of 1975 on the Retail Sector in the United States
A leisurely drive through the suburban shopping districts of virtually any American city reveals the successful inroads that large mass merchandisers have made into the retail sector in the United States. At the same time, the once-thriving downtown...
On the New Institutionalist Story about the Former Socialist Economies
Several recent articles in this journal have provided valuable appraisals of the New Institutional Economics (NIE). The paper by Peter M. Lichtenstein [1996] is among the most provocative of these articles. Lichtenstein critiques what he sees as the...
Padded Prowess: A Veblenian Interpretation of the Long Hours of Salaried Workers
It's Brooklyn, I know, but we hunt too. - Willy Loman, Death of a Salesman (Miller 1949) There is a widely perceived problem with the workweek in America. Juliet Schor [1991, 68-72] brought attention to this problem, noting that it is not confined...
Reflections on the Minimum Wage
Robert E. Prasch [1996, 391-397] argues that there are three constructive outcomes from a minimum wage increase: (1) higher minimums can raise aggregate demand, and hence productivity, because of a higher propensity to consume by low-income workers;...
The Modern Free Banking School: A Review
Why can't there be competition to government-produced fiat money? Why accept Federal Reserve notes as base money but not the notes issued by foreign countries or multinational banks? Do we really need central bank money as the currency for payment settlements...
The Return to Barbarism
The collapse of communism in the Balkans does not appear to have brought an "end to history" [Fukuyama 1992]. Instead, it has produced a return to the sort of barbarism that Veblen argued was latent in late nineteenth century Germany [Veblen 1964]. Political...
Toward a Demand-Side Cure for Cost Disease in the Performing Arts
Any economic examination of the business of the performing arts inevitably must deal with the phenomenon known as "cost disease." This was first described by William Baumol and William Bowen [1965, 495-502; 1966, 161-172](1) and refers to an inherent...