Social and Behavioral Sciences Commons^™

Regional Economic Development―A Survey Of Theories In The Past Two Centuries (1800-2000), Xiaohong Quan

Faculty Publications

The purpose of this paper is to survey the evolution of theories in the field of regional economic development in the past two centuries (1800-2000) before the new millennium. Theories from the ‘spacial’ dimension and from the ‘economic’ dimension are understood as the classical foundation of the field. Important theories are identified and discussed for regional economic development. Specifically, the topics examined here first center around the mechanisms behind regional economic growth, answering questions such as why growth happens in certain regions, why growth can shift to other places, and what factors or environments can foster growth in certain regions. …

Shibusawa Eiichi, Dai Ichi Bank, And The Spirit Of Japanese Capitalism, 1860-1930, John Sagers

Faculty Publications

Shibusawa Eiichi (1840-1931) has been called the “father of Japanese capitalism” and was associated with nearly five hundred business enterprises in his lifetime. From his main position as head of Dai Ichi Bank, Shibusawa was a strong advocate for business interests when the Japanese government was generally preoccupied with military concerns. He also consistently argued that business leaders should look to Confucian principle for moral guidance if they were to maintain the public's trust. Through an analysis of Shibusawa's public statements and his legacy in subsequent historical scholarship, particularly Dai Ichi Bank's 1957 official company history, we see that appeals …

The Correspondence Between Irving Fisher And Nathaniel Terry Bacon At The James P. Adams Library Rhode Island College, Richard Vangermeersch, Marlene L. Lopes, Editor

Faculty Publications

This project brings together the correspondence between Yale economist Irving Fisher and entrepreneur-industrialist, philanthropist and gentleman scholar Nathaniel Terry Bacon. In doing so it provides a window into the thoughts and interactions of two intelligent and influential men, related by marriage but very different in terms of personality, social outlook, and economic theory. Spanning the first quarter of the 20th century, these letters have as their backdrop key events such as the First World War, the impending stock market crash, and the eve of the great depression.

Professor Emeritus Richard Vangermeersch initiated this undertaking and made us aware of the …

The Upside Of Government Default, Jeffrey Rogers Hummel

Faculty Publications

No abstract provided.

Some Possible Consequences Of A U.S. Government Default, Jeffrey Rogers Hummel

Faculty Publications

The U.S. government faces a looming fiscal crisis. A default on Treasury securities appears inevitable. The short-run consequences for the economy will be painful. But the long-run consequences, both economic and political, could be beneficial. The most important long-run political benefit would be the imposition of fiscal discipline. The long-run economic benefit would be the alleviation of the future tax liabilities required to service the national debt, irrespective of whether those liabilities are correctly anticipated or not. A historical examination of the state government defaults of the 1840s provides one case study where the long-run consequences were indeed salutary.

America's Turning Point, Jeffrey Rogers Hummel

Faculty Publications

No abstract provided.

The Question Of Slavery, Jeffrey Rogers Hummel

Faculty Publications

No abstract provided.

The Rise And Fall Of Glass-Steagall, Jeffrey Rogers Hummel, Warren C. Gibson

Faculty Publications

No abstract provided.

If A Pure Market Economy Is So Good, Why Doesn’T It Exist? The Importance Of Changing Preferences Versus Incentives In Social Change, Jeffrey Rogers Hummel, Edward P. Stringham

Faculty Publications

Many economists argue that a pure market economy cannot come about because people will always have incentives to use coercion (Cowen and Sutter, 2005; Holcombe, 2004). We maintain that these economists leave out an important factor in social change. Change can come about by altering incentives or preferences, but since most neoclassical economists ignore changing preferences, they too quickly conclude that change is impossible. History shows that social change based on changes in preferences is common. By recognizing that preferences need not be constant, political economists can say much more about changing the world.

Government’S Diminishing Benefits From Inflation, Jeffrey Rogers Hummel

Faculty Publications

No abstract provided.

Monetary Lessons From The Not-So-Great Depression, A Round-Robin Essay Debate With Scott Sumner, James Hamilton, And George Selgin, Jeffrey Rogers Hummel

Faculty Publications

No abstract provided.

Review Of Good Money: Birmingham Button Makers, The Royal Mint, And The Beginnings Of Modern Coinage, 1775-1821 By George Selgin, Jeffrey Rogers Hummel

Faculty Publications

No abstract provided.

Why Default On U.S. Treasuries Is Likely, Jeffrey Rogers Hummel

Faculty Publications

No abstract provided.

Will We Be Stimulated? Economists Sound Off On Obama’S Stimulus Package Reason, Nick Gillesie, Jeffrey Rogers Hummel, Meg Mcardle

Faculty Publications

No abstract provided.

Civil War Finance: Lessons For Today, Jeffrey Rogers Hummel

Faculty Publications

No abstract provided.

Was Money Really Easy Under Greenspan?, Jeffrey Rogers Hummel, David R. Henderson

Faculty Publications

No abstract provided.

The Fed’S Binge, Jeffrey Rogers Hummel

Faculty Publications

No abstract provided.

Greenspan’S Monetary Policy In Retrospect: Discretion Or Rules?, Jeffrey Rogers Hummel, David R. Henderson

Faculty Publications

No abstract provided.

Toward A Libertarian Reconstruction Of Neoclassical Welfare Theory, Jeffrey Rogers Hummel

Faculty Publications

Many libertarians, especially those inclined toward the Austrian school of economics, counter the market-failure justification for government intervention by denying any legitimacy whatsoever to the neoclassical concept of efficiency. But properly interpreted, neoclassical efficiency, rather than providing an open-ended justification for all sorts of government intervention, provides one of the most powerful and comprehensive objections to government coercion in general.

Death And Taxes, Including Inflation: The Public Versus Economists, Jeffrey Rogers Hummel

Faculty Publications

Inflation worries the general public much more than it does the economics profession, and economists remain perplexed as to exactly why. The costs that concern economists are inflation’s deadweight loss. But that is only a part of the losses that concern the public, because inflation simultaneously transfers some of people’s income into the hands of government. The fact that the seigniorage tax may pay for programs they favor is a separate issue. Moreover, unlike income and other taxes, which people in democratic countries may think they have some control over through voting, seigniorage appears utterly arbitrary. In fact, people can …

Review Essay On The Politically Incorrect Guide To American History By Thomas E. Woods, Jr., Jeffrey Rogers Hummel

Faculty Publications

No abstract provided.

Review Of Northern Naval Superiority And The Economics Of The American Civil War By David G. Surdam, Jeffrey Rogers Hummel

Faculty Publications

No abstract provided.

The American Militia And The Origin Of Conscription: A Reassessment, Jeffrey Rogers Hummel

Faculty Publications

No abstract provided.

William The Liberator, Jeffrey Rogers Hummel

Faculty Publications

No abstract provided.

Review Of Mastered By The Clock: Time, Slavery, And Freedom In The American South By Mark M. Smith, Jeffrey Rogers Hummel

Faculty Publications

No abstract provided.

National Defense And The Public-Goods Problem, Jeffrey Rogers Hummel, Don Lavoie

Faculty Publications

No abstract provided.

Privatize Deposit Insurance, Jeffrey Rogers Hummel

Faculty Publications

No abstract provided.

Medieval World View In Modern Jargon [Review Of Entropy: A New World View By Jeremy Rifkin], Jeffrey Rogers Hummel

Faculty Publications

No abstract provided.

The Deregulation And Monetary Control Act Of 1980, Jeffrey Rogers Hummel

Faculty Publications

No abstract provided.

Problems With Austrian Business Cycle Theory, Jeffrey Rogers Hummel

Faculty Publications

No abstract provided.