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Full-Text Articles in Economics

Progressive Policy, Howard J. Sherman Mar 2018

Progressive Policy, Howard J. Sherman

HOWARD J SHERMAN

This article is based, with some improvements and updating, on chapter 15 of Howard Sherman and Paul Sherman, INEQUALITY, BOOM AND BUST: FROM BILLIONAIRE CAPITALISM TO EQUALITY AND FULL EMPLOYMENT (London and New York: Rutledge, 2018 - see book on this site to read chapter 1). There are two important findings about the United States (U.S.) economy from Sherman (2018). First, each expansion of capitalism during the business cycle causes increased income and wealth inequality. Second, rising inequality is the major cause of recessions, depressions, and unemployment.

The policy proposals in this article are based on those championed by …


Inequality, Boom, And Bust: From Billionaire Capitalism To Equality And Full Employment, Howard J. Sherman, Paul Sherman Mar 2018

Inequality, Boom, And Bust: From Billionaire Capitalism To Equality And Full Employment, Howard J. Sherman, Paul Sherman

HOWARD J SHERMAN

There is enormous inequality between the income and wealth of the richest 1 percent and all other Americans. While the top 1 percent own 42 percent of all wealth in America, the lower half on the income ladder has only 2 percent of all of the wealth. This book develops a viewpoint contrary to the prevailing conservative paradigm, setting out both reasons for this inequality and the impact of this. To explain inequality, conservative economists focus on individual characteristics such as intelligence and hard work. This book puts forward new evidence to show that changes in economic inequality are primarily …


Inequality, Boom, And Bust: From Billionaire Capitalism To Equality And Full Employment, Howard J. Sherman, Paul Sherman Mar 2018

Inequality, Boom, And Bust: From Billionaire Capitalism To Equality And Full Employment, Howard J. Sherman, Paul Sherman

HOWARD J SHERMAN

There is enormous inequality between the income and wealth of the richest 1 percent and all other Americans. While the top 1 percent own 42 percent of all wealth in America, the lower half on the income ladder has only 2 percent of all of the wealth. This book develops a viewpoint contrary to the prevailing conservative paradigm, setting out both reasons for this inequality and the impact of this. To explain inequality, conservative economists focus on individual characteristics such as intelligence and hard work. This book puts forward new evidence to show that changes in economic inequality are primarily …


Interview With Economist Howard Sherman: Why Labor Should Fight For Full Employment, Howard J. Sherman, Danny Feingold Sep 2013

Interview With Economist Howard Sherman: Why Labor Should Fight For Full Employment, Howard J. Sherman, Danny Feingold

HOWARD J SHERMAN

Interview with "Economist Howard Sherman: Why Labor Should Fight for Full Employment" by Danny Feingold on September 11, 2013


Principles Of Macroeconomics: Activist Vs. Austerity Policies, Howard Sherman, Mike Meeropol Mar 2013

Principles Of Macroeconomics: Activist Vs. Austerity Policies, Howard Sherman, Mike Meeropol

HOWARD J SHERMAN

This is an economics textbook comparing Neoclassical economic theories with Progressive economic theories, written in extremely accessible prose.


Vita, Howard J. Sherman Dec 2012

Vita, Howard J. Sherman

HOWARD J SHERMAN

Full vita for Howard J. Sherman. Many of the articles and books are also listed in this selectedworks site, and more metadata and full content will be added soon.


Dynamics Of The Current Crisis, Howard Sherman, Mike Meeropol Apr 2012

Dynamics Of The Current Crisis, Howard Sherman, Mike Meeropol

HOWARD J SHERMAN

Sometimes, it is useful to take a step back and remind ourselves why recessions occur and why recoveries usually follow shortly thereafter. Having done that, we can try to understand the causes of far more serious recessions and what must be done to recover. The authors point out how such severe recessions, including the Great Recession of 2007 to 2009, differ profoundly from most others


Dialogue Between Friedman And Keynes, Howard J. Sherman Dec 2011

Dialogue Between Friedman And Keynes, Howard J. Sherman

HOWARD J SHERMAN

This is an imaginary dialogue between Milton Friedman, the greatest conservative economist of the 20th century, and John Maynard Keynes, the greatest liberal economist of the 20th century.


Dialogue Between Friedman And Marx On Income Inequality, Howard J. Sherman Dec 2011

Dialogue Between Friedman And Marx On Income Inequality, Howard J. Sherman

HOWARD J SHERMAN

Imaginary dialogue between Milton Friedman, the greatest conservative economist of the 20th century, and Karl Marx, the greatest radical economist, on income inequality.


Business Cycle Program, Howard J. Sherman Dec 2010

Business Cycle Program, Howard J. Sherman

HOWARD J SHERMAN

No abstract provided.


Radical Economics In The 21st Century, Howard J. Sherman Dec 2010

Radical Economics In The 21st Century, Howard J. Sherman

HOWARD J SHERMAN

No abstract provided.


Business Cycle Program B, Howard J. Sherman Dec 2010

Business Cycle Program B, Howard J. Sherman

HOWARD J SHERMAN

Readers who wish to see how the business cycle calculations for this book were done, as well as how to create their own spreadsheet and graphs, can use the attached program. You need only paste the series into the appropriate date on the spreadsheet.

  • The users need only paste their data at the first quarter 1970.
  • The “cycle base” is the average of a variable over the whole cycle.
  • The “original data” are your series, divided into nine stages of the cycle. Stage 1 is the initial trough, stages 2, 3, and 4 are the expansion; stage 5 is the …


Business Cycle Program C, Howard J. Sherman Dec 2010

Business Cycle Program C, Howard J. Sherman

HOWARD J SHERMAN

This spreadsheet shows exactly the same program as Program B, but it is filled in to show the behavior of Gross Domestic Product. Readers who wish to see how the business cycle calculations for this book were done, as well as how to create their own spreadsheet and graphs, can use the attached program. You need only paste the series into the appropriate date on the spreadsheet.

  • The users need only paste their data at the first quarter 1970.
  • The “cycle base” is the average of a variable over the whole cycle.
  • The “original data” are your series, divided into …


Toward A Progressive Macroeconomic Explanation, Howard J. Sherman Jun 2010

Toward A Progressive Macroeconomic Explanation, Howard J. Sherman

HOWARD J SHERMAN

No abstract provided.


The Making Of A Radical Economist, Howard J. Sherman Dec 2009

The Making Of A Radical Economist, Howard J. Sherman

HOWARD J SHERMAN

This article answers two questions. First, how do radical economists develop? Second, how do radical departments develop? In order to answer these two questions, I use my own experience in becoming a radical economist and my own experience in developing a radical department.


The Roller Coaster Economy: Financial Crisis, Great Recession, And The Public Option, Howard J. Sherman Dec 2009

The Roller Coaster Economy: Financial Crisis, Great Recession, And The Public Option, Howard J. Sherman

HOWARD J SHERMAN

This is an explanation of how and why the economic downturn of 2007 became the Great Recession of 2008 and 2009. Author Howard Sherman explores the root causes of the cycle of boom and bust of the economy, focusing on the 2008 financial crisis and the Great Recession of 2007-2009. He makes an argument that recessions and the resulting painful involuntary unemployment are inherent in capitalism itself. Sherman clearly illustrates the mechanisms of business cycles, and he provides a thoughtful alternative that would rein in their destructive effects.


Economics: An Introduciton To Traditonal And Progressive Views, Howard J. Sherman, E. K. Hunt, Reynold Nesiba, Phillip O'Hara, Barbara Weins-Tours Dec 2007

Economics: An Introduciton To Traditonal And Progressive Views, Howard J. Sherman, E. K. Hunt, Reynold Nesiba, Phillip O'Hara, Barbara Weins-Tours

HOWARD J SHERMAN

Thoroughly revised, expanded, and updated, this classic text offers a broader intellectual foundation than traditional principles textbooks. It introduces students to both traditional economic views and their progressive critique. The text puts the study of microeconomics, macroeconomics, and globalization into historical context. While covering the same topics as a traditional text, it also offers a richer discussion of economic history and the history of economic thought, including the ideas of Karl Marx, Thorstein Veblen, and John Maynard Keynes. This enables students to see economics as a way of understanding the world--a lens for social analysis--rather than as immutable truth or …


How Society Makes Itself: The Evolution Of Political And Economic Institutions, Howard J. Sherman Dec 2005

How Society Makes Itself: The Evolution Of Political And Economic Institutions, Howard J. Sherman

HOWARD J SHERMAN

This radical account of the evolution of political, social, and economic institutions weaves together strands of anthropology, sociology, political science, history, and economics. In a highly readable text, Howard Sherman explains the interconnections of ideas and economic forces, and traces the evolution of social and economic institutions from primitive times to the present. Sherman focuses on the myth of "inevitable progress" in technology, and argues that it progresses only when social and economic institutions and dominant ideas encourage it to improve. He shows that throughout history technology, as a part of the economic forces, ebbs and flows to create or …


Political Economy Of Evolution, Howard J. Sherman May 2004

Political Economy Of Evolution, Howard J. Sherman

HOWARD J SHERMAN

No abstract provided.


Entry Point: Comment On W. Brown, Howard J. Sherman Aug 2003

Entry Point: Comment On W. Brown, Howard J. Sherman

HOWARD J SHERMAN

This article discusses where the researcher should begin an analysis of any political, social, or economic, problem in a given society.


Institutions And The Business Cycle, Howard J. Sherman Aug 2003

Institutions And The Business Cycle, Howard J. Sherman

HOWARD J SHERMAN

Feudal European political-economic institutions included a self-sufficient manor with very little market exchange, barter rather than money, and production motivated only by the need of the manor rather than a profit. All of these institutions meant that a business cycle was impossible, though there were many other problems. Capitalist institutions include production only for market exchange, a monetary economy, and production motivated only by profit. All of these institutions make possible the business cycle--since a contraction may occur if there is insufficient monetary demand to buy the supply at a price including a profit.


Evolutionary Economics From A Radical Perspective, Howard J. Sherman Feb 2003

Evolutionary Economics From A Radical Perspective, Howard J. Sherman

HOWARD J SHERMAN

This is a review article on David Hamilton, Evolutionary Economics: A Study of Change in Economic Thought. New Brncwick: Transaction Publishers, 1953, 1970, 1991, 1999.


Marxist Institutionalism, Howard J. Sherman Nov 2002

Marxist Institutionalism, Howard J. Sherman

HOWARD J SHERMAN

This is a review article of Phillip Anthony O'Hara, Marx, Veblen, and Contemporary Institutional Political Economy: Principles and Unstable Dynamics of Capitalism, Northampton, Massachusetts: Edward Elgar, 2000. O'Hara has fashioned a new synthesis of institutionalism and Marxism, which may be called Marxist Institutionalism.


The Business Cycle Theory Of Wesley Mitchell, Howard J. Sherman Feb 2001

The Business Cycle Theory Of Wesley Mitchell, Howard J. Sherman

HOWARD J SHERMAN

This article explains the cycle method and theory of Mitchell.


Interview With Howard Sherman In Democratic Left, Howard J. Sherman, Solveig Wilder Sep 2000

Interview With Howard Sherman In Democratic Left, Howard J. Sherman, Solveig Wilder

HOWARD J SHERMAN

Interview with Howard Sherman on Democratic Socialism, based on his book Reinventing Marxism. Interviewer Solveig Wilder comments: "If you're like me, you read a great deal searching for theories that you can apply to your activism. I recently discovered a book called, Reinventing Marxism, which succinctly covers so many of the questions that I've grappled with about Democratic Socialism. Author and DSA member Howard Sherman agreed to give me an interview so that other DSAers could find out about this useful resource."


Reclaiming Evolution: A Marxist-Institutionalist Dialogue On Social Change, Howard Sherman, William Dugger Dec 1999

Reclaiming Evolution: A Marxist-Institutionalist Dialogue On Social Change, Howard Sherman, William Dugger

HOWARD J SHERMAN

In this unique book, Howard Sherman and William M.Dugger engage in a dialogue on social evolution from Institutionalist and Marxist perspectives, each representing one side. It is their intention to explore the way society develops using the equally radical, but very different approaches of Thorstein Veblen and Karl Marx. The dialogue proceeds with a series of questions - each answered from the two perspectives. Beginning with an intellectual history and definition, Reclaiming Evolution examines social evolution in terms of causal elements; economic relations, technology, enabling myth and political relations, and social processes; structural change, social tension and social conflict. It …


Critique Of The Critique: Analysis Of Hodgson On Marx On Evolution, Howard J. Sherman Dec 1997

Critique Of The Critique: Analysis Of Hodgson On Marx On Evolution, Howard J. Sherman

HOWARD J SHERMAN

Hodgson claims that Marxism is incompatible with Darwinian biological evolution. That was true of earlier Socialist and Communist theories of economic determinism, but it is not true of the contemporary generation of critical Marxists.


The Business Cycle: Growth And Crisis In Capitalism, Howard Sherman Dec 1990

The Business Cycle: Growth And Crisis In Capitalism, Howard Sherman

HOWARD J SHERMAN

Are the recurring recessions of the capitalist world merely short-term adjustments to changing economic circumstances in a system that tends, in general, toward equilibrium? In this accessible study of the business cycle, Howard Sherman makes a powerful case that recessions and painful involuntary unemployment are endogenous to capitalism. Drawing especially on the work of Wesley Clair Mitchell, Karl Marx, and John M. Keynes, Sherman explains why the nature of the business cycle produces serious economic loss and misery during its contraction phase, just as it produces growth in its expansion phase.


Comparing Economic Systems: A Political-Economic Approach, Howard Sherman Dec 1987

Comparing Economic Systems: A Political-Economic Approach, Howard Sherman

HOWARD J SHERMAN

No abstract provided.


Foundations Of Radical Political Economy, Howard Sherman Dec 1986

Foundations Of Radical Political Economy, Howard Sherman

HOWARD J SHERMAN

No abstract provided.