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Articles 1 - 28 of 28
Full-Text Articles in Economics
Working Paper No. 62, Uses Of Abduction In Economic Science, Daniel Urban
Working Paper No. 62, Uses Of Abduction In Economic Science, Daniel Urban
Working Papers in Economics
This inquiry considers the meaning of abduction and its uses in Economic Science. Abductive logic is discussed at some length, in order to clarify how it is used in this inquiry. In addition, abduction is traced from its appearances in the writings of pragmatist philosopher Charles Sanders Peirce and how its meaning is later carried on in Thorstein Veblen’s Institutional Economics. Peirce’s influence proves foundational for Veblen’s contributions, as well as for the writings of John Roger Commons. My research suggests that after Commons, Peirce’s influence in economics wanes. Additionally, the use of retroduction in critical realism provides a contemporary …
Mountain Monitor-3rd Quarter 2009, Brookings Mountain West
Mountain Monitor-3rd Quarter 2009, Brookings Mountain West
Mountain Monitor Quarterly
Nationwide, the recession is technically over. Or at least that is the view of most economists. They note that real U.S. gross domestic product (GDP) finally expanded in the third quarter of 2009, growing at a 2.8 percent annual rate after four consecutive quarters of contraction. They point to a significant slowing of job losses in November, rising housing prices, and a slight downtick in unemployment as other positive signs. Their conclusion: Economic recovery is at last underway. And yet, the pace of renewal seems tentative and its geography patchy. Most notably, the aggregate national story of recovery and expansion …
Monetary Lessons From The Not-So-Great Depression, A Round-Robin Essay Debate With Scott Sumner, James Hamilton, And George Selgin, Jeffrey Rogers Hummel
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.
Post-Structural Logic In Marx's Theory Of Value, David Kristjanson-Gural
Post-Structural Logic In Marx's Theory Of Value, David Kristjanson-Gural
Faculty Journal Articles
In this essay I use Louis Althusser’s observation concerning the synchrony and diachrony of Marx’s logic in Capital to detail changes in the meaning of value, defined as socially necessary abstract labor time, throughout the three volumes of Capital. I use this analysis to identify three common types of logical error in reading Marx that result from failing to recognize this aspect of his methodology, and I provide examples to illustrate each of these common errors. I then argue that, by recognizing the synchrony and diachrony of Marx’s method, it is possible to read value theory in a way that …
Review Of Good Money: Birmingham Button Makers, The Royal Mint, And The Beginnings Of Modern Coinage, 1775-1821 By George Selgin, Jeffrey Rogers Hummel
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
Why Default On U.S. Treasuries Is Likely, Jeffrey Rogers Hummel
Faculty Publications
No abstract provided.
Searching For A New Brand: Reimagining A More Diverse Orlando, Kevin Archer, Kris Bezdecny
Searching For A New Brand: Reimagining A More Diverse Orlando, Kevin Archer, Kris Bezdecny
All Faculty Scholarship for the School of Graduate Studies and Research
No abstract provided.
Why Economic Performance Has Differed Between Brazil And China? A Comparative Analysis Of Brazilian And Chinese Macroeconomic Policy, Fernando Ferrari-Filho, Anthony Petros Spanakos
Why Economic Performance Has Differed Between Brazil And China? A Comparative Analysis Of Brazilian And Chinese Macroeconomic Policy, Fernando Ferrari-Filho, Anthony Petros Spanakos
Department of Political Science and Law Faculty Scholarship and Creative Works
This paper addresses a specific question: why has China grown so rapidly and Brazil not? To answer this question, it (i) establishes the basis for comparison between China and Brazil by contextualizing these countries within the BRICs concept, and (ii) presents a comparative analysis of Brazilian and Chinese reforms focusing only on the issue of macroeconomic policy, especially the monetary and exchange rate regimes, and its effect on growth.
Will We Be Stimulated? Economists Sound Off On Obama’S Stimulus Package Reason, Nick Gillesie, Jeffrey Rogers Hummel, Meg Mcardle
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.
The U.S. Economic Crisis: Another "Lost Decade"?, Paula Chungsathaporn
The U.S. Economic Crisis: Another "Lost Decade"?, Paula Chungsathaporn
Honors College Theses
America is experiencing the worst economic downturn since the Great Depression originating with problems from mortgage backed securities and seeping into every major sector in the economy. We have witnessed the downfall or government takeover of some of the most powerful companies in the country, contributing to the highest unemployment rate America has seen in decades. During the 1990s, Japan experienced what is commonly referred to as “the lost decade,” a period of prolonged stagnant growth. Many similarities can be drawn between the current U.S. crisis and the Japanese crisis of the late 90s. The macroeconomic conditions that caused the …
Gresham's Law In The 21St Century, Joshua Finnell
Gresham's Law In The 21St Century, Joshua Finnell
E-JASL 1999-2009 (Volumes 1-10)
Abstract
Research indicates that most people today satisfy their information needs through the Internet. As we move deeper into the information age, librarians must embrace the role of inculcating information literacy skills lest Gresham’s Law of economics becomes a reality in our information economy. This article discusses the probabilistic nature of the Internet against the backdrop of Gresham’s Law.
Civil War Finance: Lessons For Today, Jeffrey Rogers Hummel
Civil War Finance: Lessons For Today, Jeffrey Rogers Hummel
Faculty Publications
No abstract provided.
Waking Up To An Economic Crisis, William F. Ragle
Waking Up To An Economic Crisis, William F. Ragle
Business Administration Faculty Publications
A finance professor provides his perspective on how America's changing priorities and shifting values led to today's economic upheaval.
La Crisis Financiera De 1982-1983 En Chile: Orígenes, Intervención, Efectos Y Implicancias Para El Modelo Neoliberal, Luke Shoemaker
La Crisis Financiera De 1982-1983 En Chile: Orígenes, Intervención, Efectos Y Implicancias Para El Modelo Neoliberal, Luke Shoemaker
Independent Study Project (ISP) Collection
This project is an analysis of the financial crisis in Chile between 1982 and 1983. I will begin with a summary of the crisis with respect to three variables: the origin of the crisis, the government’s intervention to confront the crisis, and the effects of the crisis. Afterwards I will discuss the implications that the financial crisis has for the neoliberal model. There are two hypotheses for this discussion. One hypothesis is that the neoliberal model caused the crisis. The alternative hypothesis is that the crisis was caused by errors in the application of the neoliberal model and other external …
Economic Development In Cold War South Carolina, R. Phillip Stone Ii
Economic Development In Cold War South Carolina, R. Phillip Stone Ii
Faculty Scholarship
Argues that South Carolina did not benefit from Cold War-influenced economic development because of the lack of industry in the state and the lack of skilled workers. South Carolina's focus on low-wage, low-value added production continued well into the modern era.
Was Money Really Easy Under Greenspan?, Jeffrey Rogers Hummel, David R. Henderson
Was Money Really Easy Under Greenspan?, Jeffrey Rogers Hummel, David R. Henderson
Faculty Publications
No abstract provided.
Do Good Things Come Out After Recessions? The Productivity-Business Cycle Interaction, Michael M. Alba, Lawrence B. Dacuycuy
Do Good Things Come Out After Recessions? The Productivity-Business Cycle Interaction, Michael M. Alba, Lawrence B. Dacuycuy
Angelo King Institute for Economic and Business Studies (AKI)
For the past two decades, the Philippines has endured a wave of recessions, events that technically represent fluctuations in economic activity. While some of these recessions have been shallow, resulting in minor deviations from where our economy should be, some have been deep and devastating like the ones that occurred during the last years of the Marcos regime.
The Fed’S Binge, Jeffrey Rogers Hummel
Mills B. Lane, Jr. And Enterprise In A New South, Randall L. Patton
Mills B. Lane, Jr. And Enterprise In A New South, Randall L. Patton
Faculty and Research Publications
For a century, Citizens & Southern Bank was a fixture in Georgia. In 1991, the C&S brand name disappeared in a merger with North Carolina National Bank. This was one of the bittersweet consequences of the slow, confusing swirl of bank deregulation after 1970, when institutions such as C&S simply disappeared, swallowed by the "winners" in the new competitive environment of interstate banking in the 1980s and 1990s. Even earlier, however, the Lane family had ceased to control the bank started by Mills Lane, Sr. in 1891. Mills B. Lane, Jr. was the last member of the Lane family to …
Adam Smith And The Place Of Faction, Sandra J. Peart, David M. Levy
Adam Smith And The Place Of Faction, Sandra J. Peart, David M. Levy
Jepson School of Leadership Studies articles, book chapters and other publications
Our approach to faction focuses on Smith’s account of the interrelation between social distance and small group cohesion. We make the case that social distance is not necessarily constant in Smith’s system. As social distance shrinks, sympathy becomes more habitual and the affection we have for others increases (Peart and Levy, 2005b). Factions reduce social distance, and this gives them power and makes them dangerous. By modifying social distance, they created a disconnect between behavior of which we approve (cooperation) and consequences of which we disapprove. It is in this context that we find virtuous behavior with deleterious consequences. The …
2008 Hes Presidential Address: We're All "Persons" Now: Classical Economists And Their Opponents On Marriage, The Franchise, And Socialism, Sandra J. Peart
2008 Hes Presidential Address: We're All "Persons" Now: Classical Economists And Their Opponents On Marriage, The Franchise, And Socialism, Sandra J. Peart
Jepson School of Leadership Studies articles, book chapters and other publications
My purpose is to paint a broad brush narrative—it will have some visual representations as well—of how nineteenth-century political economists and their critics confronted a set of basic and related questions: Are men and women equally capable of self governance? Are they equally able to decide when and whom to marry and how many children to have? Can they be trusted equally to cast a ballot? Is their right to property inviolate or might new arrangements be designed and adopted for the production and distribution of wealth?
This is a story interwoven with extraordinary characters: John Stuart Mill will be …
Chasing Fools’ Gold: Whaling In Nineteenth And Twentieth Century Bermuda, Aldemaro Romero Jr.
Chasing Fools’ Gold: Whaling In Nineteenth And Twentieth Century Bermuda, Aldemaro Romero Jr.
Publications and Research
No abstract provided.
Social Insurance, Commitment, And The Origin Of Law: Interest Bans In Early Christianity, Jared Rubin
Social Insurance, Commitment, And The Origin Of Law: Interest Bans In Early Christianity, Jared Rubin
Economics Faculty Articles and Research
Despite the historical importance of ideology-based, economically inhibitive laws, we know little about the economic factors underlying their origin. This paper accounts for the historical emergence of one such law: the Christian ban on taking interest--a doctrine that shaped the evolution of numerous financial contracts and related organizational forms. A game-theoretic analysis and historical evidence suggest that the Church's commitment to providing social insurance for its poorest constituents encouraged risky borrowing, which the Church attempted to limit by banning interest. The analysis highlights the applicability of the rational choice framework to seemingly irrational actions and laws, the role of nonmonetary …
Review Of Frances Dinkelspiel's Towers Of Gold: How One Jewish Immigrant Named Isaias Hellman Created California, Lynne Doti
Economics Faculty Articles and Research
A review of "Towers of Gold: How One Jewish Immigrant Named Isaias Hellman Created California."
The Impact Of Military Forts On Agricultural Investments On The Great Plains In 1880, Christopher Decker, David T. Flynn
The Impact Of Military Forts On Agricultural Investments On The Great Plains In 1880, Christopher Decker, David T. Flynn
Economics Faculty Publications
We empirically investigate the relationship between agricultural development and proximity to military forts in Kansas, Nebraska, and Colorado in 1880. Agricultural investments are substantially higher in counties where a military fort is present, suggesting that military forts stimulated agricultural development on the Great Plains. However, the reverse is not true; there is no statistical support for the notion that forts necessarily located in counties where substantial development was already occurring. Moreover, we found that while the presence of a military fort has the effect of increasing agricultural development, there is no evidence that such a presence sustained agricultural development.
Neoclassicism And The Separation Of Ownership And Control, Herbert J. Hovenkamp
Neoclassicism And The Separation Of Ownership And Control, Herbert J. Hovenkamp
All Faculty Scholarship
"Separation of ownership and control" is a phrase whose history will forever be associated with Adolf A. Berle and Gardiner C. Means' The Modern Corporation and Private Property (1932), as well as with Institutionalist economics, Legal Realism, and the New Deal. Within that milieu the large publicly held business corporation became identified with excessive managerial power at the expense of stockholders, social irresponsibility, and internal inefficiency. Neoclassical economists both then and ever since have generally been critical, both of the historical facts that Berle and Means purported to describe and of the conclusions that they drew. In fact, however, within …
Critical Tax Theory: An Introduction, Anthony C. Infanti, Bridget J. Crawford
Critical Tax Theory: An Introduction, Anthony C. Infanti, Bridget J. Crawford
Book Chapters
Our book Critical Tax Theory: An Introduction (Cambridge University Press 2009) highlights and explains the major themes and methodologies of a group of scholars who challenge the traditional claim that tax law is neutral and unbiased. The contributors to this volume include pioneers in the field of critical tax theory, as well as key thinkers who have sustained and expanded the investigation into why the tax laws are the way they are and what impact tax laws have on historically disempowered groups. This volume will provide an accessible introduction to this new and growing body of scholarship. It will be …
The Civil Market: Medieval Franciscan Ideas To Solve 21st Century Economic Problems, Stefano Zamagni
The Civil Market: Medieval Franciscan Ideas To Solve 21st Century Economic Problems, Stefano Zamagni
Clemens Lecture Series
No abstract provided.