Social and Behavioral Sciences Commons^™

Introduction To The Political Economy And Feasibility Of Bitcoin And Cryptocurrencies, Spencer J. Pack

Economics Faculty Publications

No abstract provided.

Understanding The Remittance Gender Gap Among Hispanics In The U.S.: Gendered Norms And Role Of Expectations, Yongjin Park, María Amparo Cruz-Saco, Mónika López-Anuarbe

Economics Faculty Publications

Using the 2006 Latino National Survey (LNS), this study analyzes the existence of a gender gap in favor of men in the monetary remittance behavior of Hispanics residing in the United States. Findings indicate that cultural gender norms and expectations in the country of origin play a key role. The study shows that women migrants are less likely to remit than men and, when they do, they transfer smaller amounts. The remittance gender gap is not universal among subgroups, since it is only observable among Hispanics who came to the US to improve their economic situation, plan to return to …

Ageing And Long-Term Care Planning Perceptions Of Hispanics In The Usa: Evidence From A Case Study In New London, Connecticut, María Amparo Cruz-Saco, Mónika López-Anuarbe

Economics Faculty Publications

This paper explores the ageing attitudes and long-term care planning behavior of adult Hispanics in New London, Connecticut, a town with 30 thousand inhabitants that is rapidly ageing. We conducted six focus groups and had 37 participants share their ageing perceptions and long-term care needs. Our main findings suggest that informal care arrangements are vulnerable and unsustainable especially since women have historically and disproportionately provided most family eldercare even at their own personal and financial expense. Though male participants expected their female relatives to care for them when they age and need personal assistance, female participants did not necessarily expect …

More Than Altruism: Cultural Norms And Remittances Among Hispanics In The U.S., Monika Lopez Anuarbe, María Amparo Cruz-Saco, Yongjin Park

Economics Faculty Publications

Cultural norms embody the communalism and familism that characterize social structures and traditions of care among certain identity groups, notably, Hispanics. In turn, they affect remitting behavior as they do family dynamics, thereby extending care transnationally. Using the 2006 Latino National Survey, the largest instrument that captures socio-economic variables and political perspectives among Hispanics residing in the U.S., we construct a Hispanic identity index that is used to capture the role of cultural norms in remittance behavior. This index is used as an explanatory variable in a logit model for the probability and frequency of remitting money. We find that …

Adam Smith, Natural Movement, And Physics (Working Paper), Spencer J. Pack

Economics Faculty Publications

No abstract provided.

Intergenerational Transfers In Long Term Care, Monika Lopez Anuarbe

Economics Faculty Publications

How are parental inter-vivos transfers to their children and children’s informal care of parents influenced by personal characteristics, family conditions and state specific long term care policies? AHEAD data from 1993 and 1995 and a two-party choice model are used to guide the estimation of OLS and binary logit models of the amount and likelihood of inter-vivos transfers to children and informal care of parents. Results suggest that both parents’ characteristics and their offspring’s characteristics affect parental gifts to children and children’s time assistance to their parents, highlighting the interdependent nature of these decisions. Furthermore, though state policies did not …

(Review) A Short History Of Ethics And Economics: The Greeks, Spencer J. Pack

Economics Faculty Publications

No abstract provided.

Who Will Care For The Women?, Candace Howes

Economics Faculty Publications

Over 20 million people today, including children, working-age disabled, and elderly persons, require some sort of assistance to live safely. Largely because women live longer than men, well into the ages when the probability of needing care increases, 70 percent of elderly people who need long-term care are women. Furthermore, most long-term care is provided by women, mainly as unpaid care in the home, or as low-paid care in institutions and community settings (Stone & Weiner 2001). The United States faces a severe long-term care crisis because of the nation's inability to plan for the changing demographic balance. The crisis …

Aristotle's Difficult Relationship With Modern Economic Theory, Spencer J. Pack

Economics Faculty Publications

This paper reviews Aristotle's problematic relationship with modern economic theory. It argues that in terms of value and income distribution theory, Aristotle should probably be seen as a precursor to neither classical nor neoclassical economic thought. Indeed, there are strong arguments to be made that Aristotle's views are completely at odds with all modern economic theory, since, among other things, he was not necessarily concerned with flexible market prices, opposed the use of money to acquire more money, and did not think that the unintended consequences of human activity were generally beneficial. The paper argues however, that this interpretation goes …

For Love, Money Or Flexibility: Why People Choose To Work In Consumer-Directed Homecare, Candace Howes

Economics Faculty Publications

The purpose of this study was to investigate the impact of wages and benefits (relative to other jobs available to workers), controlling for personal characteristics, on the recruitment and retention of providers working in a consumer-directed home care program.

This article was written as part of a project titled ‘‘Building a High Quality Homecare Workforce: Wages, Benefits and Flexibility Matter,’’ which was supported by a research grant from the Better Jobs Better Care Program and funded by the Robert Wood Johnson Foundation (#049213) and Atlantic Philanthropies (#12099) with direction and technical assistance provided by the Institute for the Future of …

Smith’S Humean Criticism Of Hume’S Account Of The Origin Of Justice, Spencer J. Pack, Eric Schliesser

Economics Faculty Publications

Adam Smith criticizes David Hume's account of the origin of and continuing adherence to the rule of law for being not sufficiently Humean. Hume explained that adherence to the rule of law originated in the self-interest to restrain self-interest. According to Smith, Hume does not pay enough attention to the passions of resentment and admiration, which have their source in the imagination. Smith offers a more naturalistic and evolutionary account of the psychological preconditions of the establishment and morality of justice than Hume had. Smith severs the intimate connection that Hobbes and Hume made between justice and property.

(Review) Pierre Force, Self-Interest Before Adam Smith: A Genealogy Of Economic Science, Spencer J. Pack

Economics Faculty Publications

Pierre Force, Self-Interest Before Adam Smith: A Genealogy of Economic Science (Cambridge: Cambridge University Press, 2003), pp. ix, 279, $65.00. ISBN 0-52183060-5.

(Review) Self-Interest Before Adam Smith: A Genealogy Of Economic Science, Spencer J. Pack

Economics Faculty Publications

Pierre Force, Self-Interest Before Adam Smith: A Genealogy of Economic Science (Cambridge: Cambridge University Press, 2003), pp. ix, 279, $65.00. ISBN 0-521 83060-5.

Living Wages And The Retention Of Homecare Workers In San Francisco, Candace Howes

Economics Faculty Publications

This study records the impact on workforce retention of the nearly doubling of wages for homecare workers in San Francisco County over a 52-month period. Using descriptive statistics and logistic regression analysis I find that the annual retention rate of new providers rose from 39 percent to 74 percent following significant wage and benefit increases and that a $1 increase in the wage rate from $8 an hour – the national average wage for homecare – would increase retention by 17 percentage points. I also show that adding health insurance increases the retention rate by 21 percentage points.

Upgrading California’S Home Care Workforce: The Impact Of Political Action And Unionization, Candace Howes

Economics Faculty Publications

Candace Howes examines the recent history of one of California's rapidly growing occupations: home care. As the author's analysis demonstrates, home care has been extensively transformed in recent years through large-scale unionization and coalition-based political action, which have led to major improvements in wages and benefits. Apart from providing many home care workers with better pay, the upgrading of this occupation has also improved the quality of care that clients receive, since higher wages make for lower turnover. The improved working and living conditions that result benefit caregivers and those they serve alike. The author's empirical analysis has obvious ramifications …

The Impact Of A Large Wage Increase On The Workforce Stability Of Ihss Home Care Workers In San Francisco County, Candace Howes

Economics Faculty Publications

This study is one of the very few large-scale empirical investigations of the effect of wages on labor market outcomes in any direct care industry, and possibly the only such study specifically addressing conditions in the homecare industry. It records the impact of the nearly doubling of wages for IHSS homecare workers in San Francisco County over a 52 month period. The project is based on a unique database, which matches approximately 18,000 San Francisco County homecare workers in 26,115 unique matches to 15,500 service recipients between November 1997 and February 2002.

Struggling To Provide: A Portrait Of Alameda County Homecare Workers, Candace Howes, Howard Greenwich, Laura Reif, Lea Grundy

Economics Faculty Publications

Alameda County employs nearly 8,000 homecare workers to help disabled and elderly persons live independently. Over one-third of these workers and their families—about 2,800—earn incomes that are below the official Federal poverty threshold. Many more struggle to meet basic daily needs and have to make difficult choices between caring for themselves and caring for others. Struggling to Provide is based on a recent survey of homecare workers in Alameda County that illustrates the insecure conditions in which many homecare workers live.

Unpacking ‘Adam Smith: Critical Theorist?’, Spencer J. Pack

Economics Faculty Publications

This paper responds to Keith Tribe's provocative Journal of Economic Literature article, “Adam Smith: Critical Theorist?” There Tribe argued that most people most of the time grossly misread Smith, due, among other things, to their quite inadequate appreciation of Smith's linguistic, social, moral, and theological context. Against Tribe, the paper argues that Smith can profitably be read as both an eighteenth-century moralist and a twenty-first century critic. Smith can be a source of inspiration, wisdom and profundity for contemporary economists. Moreover, Smith can be successfully employed by modern economists to change, deepen, and broaden contemporary economic theory.

(Review) Entrepreneurs, Institutions And Economic Change: The Economic Thought Of J. A. Schumpeter (1905-1925), Spencer J. Pack

Economics Faculty Publications

Entrepreneurs, Institutions, and Economic Change: The Economic Thought of J. A. Schumpeter (l905-1925). By Nicolo De Vecchi. Translated by Anne Stone. Brookfield, Vt.: Edward Elgar, l995. 192 pp. $80.00

(Review) Social Limits To Economic Theory, Spencer J. Pack

Economics Faculty Publications

Reviews the book Social Limits to Economic Theory by Jon Mulberg. New York: Routledge, l995. 200 pp. $19.95.

(Review) The Myth Of Adam Smith, Spencer J. Pack

Economics Faculty Publications

The Myth of Adam Smith, By Salim Rashid. Cheltenham, UK: Edward Elgar, 1998. Pp. X, 227. $80.00

Murray Rothbard’S Adam Smith, Spencer J. Pack

Economics Faculty Publications

No abstract provided.

(Reviews) Economic Thought Before Adam Smith And Classical Economics, Spencer J. Pack

Economics Faculty Publications

Economic Thought Before Adam Smith: An Austrian Perspective on the History of Economic Thought, Volume I. By Murray N. Rothbard. Brookfield. Vermont: Edward Elgar Publishing Limited, 1995. Pp. 556. $99.95.

Classical Economics: An Austrian Perspective on the History of Economic Thought, Volume II. By Murray N. Rothbard. Brookfield. Vermont: Edward Elgar Publishing Limited, 1995. Pp. 528. $99.95.

(Review) Ian Simpson Ross, The Life Of Adam Smith And Jerry Z. Muller, Adam Smith In His Time And Ours, Spencer J. Pack

Economics Faculty Publications

No abstract provided.

Adam Smith On The Virtues: A Partial Resolution Of The Adam Smith Problem, Spencer J. Pack

Economics Faculty Publications

Adam Smith's definition of justice as a moral virtue based on the "passion" of resentment in 'The Theory of Moral Sentiments' (1759), despite seeming contradictions, supports his analysis of an acquisitive, commercial society in 'The Wealth of Nations' (1774) partly by precluding the concept of a just price.

Slavery, Adam Smith’S Economic Vision And The Invisible Hand, Spencer J. Pack

Economics Faculty Publications

Smith was against slavery on moral and economic grounds. The "invisible hand" in societies which allow slavery, operates in such a way that increases in the wealth of the rich, leads to increased misery for the poor free citizens as well as for the slaves themselves. It seems that the beneficial workings of the "invisible hand" are dependent upon commercial societies which arc not based upon the institution of slavery.

Paul Krugman And The Illusion Of The Illusion Of Conflict In International Trade, Spencer J. Pack

Economics Faculty Publications

No abstract provided.

Adam Smith’S Unnaturally Natural (Nonetheless Naturally Unnatural) Use Of The Word Natural, Spencer J. Pack

Economics Faculty Publications

Natural and nature are complex words, fraught with ambiguity and contradiction. This paper does not attempt to give a complete account of Smith's use of these words. However, it does demonstrate that Smith did not necessarily approve of what he called "natural" or "nature". Economists and others who assume otherwise are in error. A study, analysis, and/or interpretation of Smith's work which depends upon this (at times unstated) assumption - that Smith necessarily approved of "nature" or the "natural"- needs to be read with great care; perhaps even incredulity.1

(Review) Stewart Justman, The Autonomous Male Of Adam Smith, Spencer J. Pack

Economics Faculty Publications

No abstract provided.

(Review) The Political Economy Of Israel, Spencer J. Pack

Economics Faculty Publications

The Political Economv of Israel: From Ideology to Stagnation by Yakir Plessner. Albany: State University of New York Press. 1994, 328 pp. $21.95.