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Social and Behavioral Sciences Commons™
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Articles 1 - 3 of 3
Full-Text Articles in Social and Behavioral Sciences
Public Pension Power For Socioeconomic Investments, F. Gregory Hayden
Public Pension Power For Socioeconomic Investments, F. Gregory Hayden
Department of Economics: Faculty Publications
We are at a turning point in the United States with regard to state and local public pension funds. First there is a movement to use these pension funds to support new kinds of investment activities, and second, the current economic analysis being provided by economists of the neoclassical ideology is inconsistent with the community intent for the pensions. These pensions were established by the community for what Thorstein Veblen defined as parental purposes, meaning societal activity structured to provide for the common good and the welfare of others [Veblen 1937, pp. 25-38]. Parental institutions function to elevate the broad …
Survey Of Methodologies For Valuing Externalities And Public Goods, F. Gregory Hayden
Survey Of Methodologies For Valuing Externalities And Public Goods, F. Gregory Hayden
Department of Economics: Faculty Publications
The purpose of this report is to explain and evaluate six different methodologies for the valuation of externalities and public goods with respect to natural resources and the ecosystem. The six methodologies are: 1) general systems analysis, 2) the social fabric matrix, 3) direct cost, 4) contingent valuation, 5) travel cost, and 6) the property approach. The explanation and analysis contained in this report intends to determine their applicability to a broad definition of an ecosystem or socioecosystem.
The concept of externalities in the field of economics is essentially a concept formulated to take account of interdependence in a model …
Institutionalism For What: To Understand Inevitable Progress Or For Policy Relevance?, F. Gregory Hayden
Institutionalism For What: To Understand Inevitable Progress Or For Policy Relevance?, F. Gregory Hayden
Department of Economics: Faculty Publications
In two recent papers, Anne Mayhew challenged the approach and purpose of institutionalism [Mayhew 1987a, 1987b]. Her message was that institutionalism should be concerned with describing cultures in order to understand the inevitable flow of human progress, and should not be undertaking analysis for the purpose of social evaluation and policy. The purpose of this article is to demonstrate the insufficiency of the base upon which that message was constructed.