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Articles 1 - 7 of 7
Full-Text Articles in Social and Behavioral Sciences
Introduction, Ken Mccormick
A Bubble On The Mighty Mississippi: An Application Of A General Model Of Speculative Bubbles To The Mississippi Bubble Of 1716-1720, Alex Knight
Major Themes in Economics
Speculative economic bubbles are a common phenomenon but are not wholly understood. Bubbles progress through a series of nine stages. A shock triggers a profitable redistribution of assets, credit creation and new investments; speculation fuels the economy; doubts burst the bubble. The Mississippi Bubble, in early 18th century France, presents an example to which this model may be applied. The history of the Mississippi Bubble, and a brief IS-LM analysis, show that speculative bubbles can be like a lively party: loud and boisterous, but with a mess to clean up afterwards. The French economy was left with a national hangover …
Economic Development Incentive Wars: What Influence Do State And Local Economic Development Incentives Have On The Location Decisions Of Firms?, Chris Lockie
Major Themes in Economics
State and local policymakers throughout the country experience tremendous pressure from their constituents to create policy tools that spur job growth and reduce unemployment in their jurisdictions. One tool that has been viewed by policymakers as useful in stimulating job growth and reducing unemployment has been economic development incentives. Despite this view, there has been growing concern over the cost effectiveness of these incentives. This paper provides a comprehensive discussion of the issues surrounding economic development incentives and evidence from four different methods of study as to the influence incentives have had on employment growth in states and counties throughout …
The State Lottery Tax: An Equity Analysis, Ben Smith
The State Lottery Tax: An Equity Analysis, Ben Smith
Major Themes in Economics
This paper finds the state lottery tax to be vertically inequitable. The tax is inherently regressive, meaning poorer income classes spend a larger share of their income on lottery products than higher income classes. The paper also finds the lottery tax to be horizontally inequitable. Older people, males, less educated individuals, and minorities (except Asians) all tend to spend more on lottery products than their respective counterparts. Policy makers should lower the implicit tax rate from its current level of 44% to 19%. A decrease in the tax rate will increase state revenue, increase consumer surplus, possibly stimulate the economy, …
The Private Prison Debate: A Look Into The Efficiency Of Private Prisons Vs. Public Prisons, Megan Swanson
The Private Prison Debate: A Look Into The Efficiency Of Private Prisons Vs. Public Prisons, Megan Swanson
Major Themes in Economics
The resurgence of private prisons during the 1980s has caused a lot of debate. If a private firm can run a prison more efficiently than the government, the government should allow privatization. Factors such as cost, quality of service, competition and liability must be examined in order to determine whether a private prison is more efficient than a public prison.
Organ Donation System: Revision In Three Phases And Counterarguments To Concerns Presented By Proponents Of The Current Altruistic System, Beth Gansen
Major Themes in Economics
In 1984, organ donation was formally organized in the United States under the National Transplant Act. The legislation established many necessary institutions, but did not address the issue of rising demand and stagnant supply. Altruists believe education is the answer, but this approach has sentenced thousands to death. Commercialization of organ procurement is a viable solution. Commercializing the procurement sector will increase efficiency, alleviate shortages, and save lives. The policy and legal implications are complex but a basic outline for a commercialized system is derived from researchers’ suggestions, economics, and lessons from the commercialized sperm donation system. Objections to commercialization …