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Articles 31 - 60 of 100
Full-Text Articles in Economic History
Working Paper No. 61, The Regulation Of Hemp In The United States, Olivia Carrillo
Working Paper No. 61, The Regulation Of Hemp In The United States, Olivia Carrillo
Working Papers in Economics
This inquiry seeks to establish that in the United States the growing and processing of industrial hemp faced an array of barriers. Its involvement in the effort during World War Two was successful and experienced high praise from the federal government. While hemp provided measurable and grand benefits as a strategic war crop, its importance diminished sharply as the United States transitioned out of the war era. What was once a highly desirable crop became a demonized crop that gradually faded into the background of the American economy. Despite its initial positive portrayal, the utilization of industrial hemp was essentially …
Working Paper No. 56, Towards A Veblenian View Of Non-Fungible Tokens, Kamren Geist
Working Paper No. 56, Towards A Veblenian View Of Non-Fungible Tokens, Kamren Geist
Working Papers in Economics
This inquiry seeks to establish that ideas advanced by Thorstein Veblen in his book, The Theory of the Leisure Class [1899], offer insights into nonfungible tokens. Through the evolution of technology -- aided by broad access to the internet -- the emergence of non-fungible tokens can be understood to offer the leisure class a novel form of conspicuous consumption. Enabled by expansive networks, members of the leisure class can now engage in conspicuous displays of wealth and therewith establish their status relative to members of the laboring class as well as members of the leisure class. While there exist many …
Working Paper No. 58, Auro Ex Oleum: Departing The American Gold Standard*, Zakhary L. Roth
Working Paper No. 58, Auro Ex Oleum: Departing The American Gold Standard*, Zakhary L. Roth
Working Papers in Economics
This inquiry seeks to establish that the character of the United States dollar fundamentally changed over the course of the 20th century as it moved away from its being rooted in the gold standard. As the global economy transitioned into the 20th century and the United States began establishing itself as a cornerstone of global trade, the dollar evolved into the standard currency of the world economy, changing significantly along the way as it moved from a gold-backed standard to the reserve currency of the international petroleum trade. These changes are reflected in U.S. foreign and monetary policy throughout this …
Working Paper No. 53, Mexico Under Neoliberalism, Daniela M. Ávila Arévalo
Working Paper No. 53, Mexico Under Neoliberalism, Daniela M. Ávila Arévalo
Working Papers in Economics
This inquiry seeks to establish that a set of policies that can be identified as ‘neoliberalism’ has generated observable effects on the economy and society of Mexico. Initiated during the last decades of the twentieth century, a combination of external and internal interests led to the implementation of neoliberal policies. The marketization of Mexico’s economy during the 1980s and 90s consolidated ‘structural adjustments.’ Through extensive privatization of what were statist assets, combined with the deregulation of trade as well as numerous aspects of private sector activity, the Mexican economy came to rely upon a low-wage labor export-model that also undermined …
Working Paper No. 57, The Plight Of The Indigenous In British North America, Maria Nicolas-Reyes
Working Paper No. 57, The Plight Of The Indigenous In British North America, Maria Nicolas-Reyes
Working Papers in Economics
This inquiry seeks to establish that the Indigenous population of North America experienced a tragic fate as a result of British colonization and American dominance. Upon the arrival of the English colonists, infectious diseases spread rapidly, disrupting Native American’s way of life and also decimating their populations. This inquiry examines two geographic areas—Virginia’s Eastern Shore and the Midcontinent—in order to demonstrate how these diseases affected Native Americans differently. Aside from the negative effects of the introduction of new infectious diseases, Indigenous peoples endured genocide perpetrated by English settlers as a means to gain greater control of their lands. Lastly, Indigenous …
Working Paper No. 60, The Importance Of Industrial Hemp In The Early United States, Olivia Carrillo
Working Paper No. 60, The Importance Of Industrial Hemp In The Early United States, Olivia Carrillo
Working Papers in Economics
This inquiry seeks to establish that in the early United States industrial hemp emerged as an important crop. In Colonial America, hemp was a desirable commodity that attracted capital investments into its cultivation and processing. Because of its durability and strength, hemp fibers had substantial worth in the production of thread, rope, and heavy canvas. Not only was the cultivation of hemp important for the development of a variety of household products, but hemp also played a military role, as the hemp fibers were spun, woven, and fashioned into sails that provided wind power for commercial and military navies. However, …
Covid-19 Lockdowns And Air Quality In The United States, Ashlyn B. Cenicola
Covid-19 Lockdowns And Air Quality In The United States, Ashlyn B. Cenicola
Economics Masters Project Research Papers
Using a difference-in-differences approach, I test whether the U.S. COVID-19 lockdowns influenced air pollution levels. I hypothesize that the halt in human mobility stemming from lockdowns caused transportation sector activity to decrease, leading to a reduction in related pollutants such as PM2.5, PM10, and NO2. I investigate whether counties with strict lockdown policies experienced greater improvements in air pollution relative to before the lockdowns than counties with lenient lockdown policies. I use lockdown stringency data from the University of Oxford to identify strict versus lenient counties, and data from the Environmental Protection Agency to capture air pollution outcomes. The main …
Working Paper No. 51, On Dugger And Corporate Hegemony, Daniela M. Ávila Arévalo
Working Paper No. 51, On Dugger And Corporate Hegemony, Daniela M. Ávila Arévalo
Working Papers in Economics
This inquiry seeks to establish that in his writings, William Dugger offers insights into the phenomenon of subreption in his effort to clarify the emergence of corporate hegemony. Focusing upon the changing organizational structure taking place within U.S. corporations, especially in the second half of the 20th century, Dugger emphasizes how the corporation’s rise to dominance diminishes the influences from other institutions—thereby undermining pluralism. Corporate hegemony emerges through invaluation processes that Dugger identifies, resulting in the positioning of the corporation as the dominant institution in economy and society. Through processes associated with subreption there takes place the internalization of corporate …
Working Paper No. 45, An Intellectual History Of Josiah Warren, Jaye Balentine
Working Paper No. 45, An Intellectual History Of Josiah Warren, Jaye Balentine
Working Papers in Economics
This inquiry seeks to establish that Josiah Warren (1798-1874) developed a synthesis of anti-capitalist economics and radical individualism which became a unique, yet highly practical strand of anarchism in the United States. This inquiry relies heavily upon Crispin Sartwell’s The Practical Anarchist: Writings of Josiah Warren (2011) for insight into Warren’s contributions. Warren registers as distinct because of his relative isolation from other anarchist thinkers, existing largely as a lone practitioner operating in the western territories of the United States during middle-part of the 19th century. This inquiry considers Warren’s philosophical views as well as his practical program—namely his doctrines …
Working Paper No. 46, Foundations For Feminist Legal Theory, Taylor Feltham
Working Paper No. 46, Foundations For Feminist Legal Theory, Taylor Feltham
Working Papers in Economics
This inquiry seeks to establish the foundations for Feminist Legal Theory through considering its three important dimensions. These dimensions are: a) a distinct and unique historical background; b) an ongoing legacy of occupational segregation; and c) a persistence of gender inequality. This inquiry relies heavily upon Feminist Legal Theory: A Primer (2016) authored by Nancy Levit, et al. Since the emergence of the area of inquiry known as “critical race feminism,” feminist legal theory has been moving away from the principle of formal equality and towards intersectional equity. Feminist legal theorists like Angela Harris (1990), in her work Race and …
Working Paper No. 47, The Transformation Of Developmental States: Patterns Of Economic Development In South Korea And Taiwan, Mina Kim
Working Papers in Economics
This inquiry considers similar yet contrasting patterns in the economic development of South Korea and Taiwan. Taiwan’s developmental state has tended to exhibit ‘softer’ characteristics than South Korea’s. I identify a tendency for when developmental states face crises and then transition forward to a ‘post-developmental state’. This is traced to the internal 'paradox of success' and external pressure of neoliberal globalization. Though these two countries tend to embrace and rely upon neoliberal policies for economic growth, the speed and degree of systemic change register as different. A 1997 financial crisis appears to have goaded South Korea to move quickly through …
Working Paper No. 48, Struggle Over China, Joshua Stanfill
Working Paper No. 48, Struggle Over China, Joshua Stanfill
Working Papers in Economics
This inquiry seeks to establish that after Dr. Sun Yat-sen thought through and then laid the foundations for the modern Chinese state, a struggle for power emerged between those identifying as nationalists and communists. Sun’s ideas regarding some of the effects of western imperialism on Asian countries were shared by both the Chinese Communist Party and the Nationalist Party under Chiang Kai-shek. The ideological bases for the struggle between the two parties for China emerged in their beliefs regarding relationships between government and citizens, and the role of the government. Soon after Dr. Sun’s death, a struggle for power over …
Working Paper No. 49, On Joseph Schumpeter And Economic Development, Serene Mistkawi
Working Paper No. 49, On Joseph Schumpeter And Economic Development, Serene Mistkawi
Working Papers in Economics
In his writings Joseph Schumpeter stresses the important role played by the entrepreneur, serving as the agent bringing about change and contributing dynamic activities to an economy. Also, Schumpeter views capitalism as an evolving system, with his entrepreneur contributing to this evolution. Schumpeter also stresses the importance of innovation for enabling an entrepreneur to earn and accumulate profits. Related to innovation, Schumpeter’s entrepreneur can help bring about a “creative destruction.” This is thought to take place as outmoded businesses fail and their productive assets are bought up and creatively reorganized and brought back into production. In this manner, Schumpeter’s entrepreneur …
Working Paper No. 44, The Evolution Of The Landlord, Jaye Balentine
Working Paper No. 44, The Evolution Of The Landlord, Jaye Balentine
Working Papers in Economics
This inquiry seeks to establish that the meaning of the term ‘the landlord’ has evolved over the course of history. In this sense, this inquiry contributes not only to the disciplines of History and Politics, but also to the field of the History of Economic Thought and the subfield of Evolutionary-Institutional Economics, carrying on the tradition established by Thorstein Veblen. A pervasive and dominant institution during the feudal era, the landlord has since evolved considerably, shifting away from the position of a predominantly political institution into a more economically oriented, capitalist institution. As a figure and agent operating within societies, …
Working Paper No. 43, Towards A Veblenian Theory Of Instincts, Duane Murray
Working Paper No. 43, Towards A Veblenian Theory Of Instincts, Duane Murray
Working Papers in Economics
This inquiry seeks to establish that in his writings, Thorstein Veblen offers a comprehensive and insightful contribution towards an understanding of instincts. Instincts can be viewed self-regarding and thought to promote the survival of the individual. Other instincts can be classified as group-regarding and contribute towards the continuation of society. Instincts can lead to the formation of habits and to combine to create societal institutions that govern human behavior. With the passage of time, instincts, habits, and institutions are thought to contribute to economic and societal evolution.
Working Paper No. 52, Some Of The Profound Effects Of World War I On France, Zachary Mckinster
Working Paper No. 52, Some Of The Profound Effects Of World War I On France, Zachary Mckinster
Working Papers in Economics
This inquiry seeks to establish that World War I engendered profound effects over the population, economy, and nation of France. The word ‘profound’ suggests significant and permanent changes affecting individuals, the society, and the economy at large. Penetrating into France’s 20th century history through the account of Louis Barthas, an infantry soldier, provides stark contrast to ‘conventional’ narratives through providing insights into some of the effects of industrialized combat, thereby allowing for a deeper understanding of the traumas suffered. Clarifying developments taking place in the French economy provides a foundation for better understanding some of the effects of WWI. This …
Working Paper No. 37, The American Opium Trade, Karson M. Pence
Working Paper No. 37, The American Opium Trade, Karson M. Pence
Working Papers in Economics
This inquiry seeks to establish that American merchants exacerbated China’s 19th century opium epidemic. Circumventing Britain’s monopoly of Indian opium, three men, Thomas Perkins, John Cushing, and Robert Forbes, played a key role in American consolidation of Turkish opium production. With malice and blatant disregard, numerous Americans pumped tens of thousands of chests of opium into China, creating fabulous riches and incredibly influential familial dynasties while simultaneously destroying the minds and bodies of an untold number of Chinese.
Working Paper No. 40, The Rise And Fall Of Georgist Economic Thinking, Justin Pilarski
Working Paper No. 40, The Rise And Fall Of Georgist Economic Thinking, Justin Pilarski
Working Papers in Economics
This inquiry seeks to establish that Henry George’s writings advanced a distinct theory of political economy that benefited from a meteoric rise in popularity followed by a fall to irrelevance with the turn of the 20th century. During the depression decade of the 1870s, the efficacy of the laissez-faire economic system came into question, during this same timeframe neoclassical economics supplanted classical political economy. This inquiry considers both of George’s key works: Progress and Poverty [1879] and The Science of Political Economy [1898], establishing the distinct components of Georgist economic thought. This rise in ‘Georgism’ is evinced through the …
Working Paper No. 42, Commodity Production As An Explanatory Variable In The Outbreak Of The American Civil War, Andrew Pope
Working Paper No. 42, Commodity Production As An Explanatory Variable In The Outbreak Of The American Civil War, Andrew Pope
Working Papers in Economics
This inquiry seeks to establish that the American South’s comparative advantage in primary commodity production can be identified as an explanatory variable in the outbreak of the American Civil War. In addition, this inquiry seeks to illustrate the positive historical correlation between a state’s reliance on primary commodity production and its propensity to generate extreme outcomes—namely, institutional inequality, conflict, and civil war. Furthermore, this inquiry seeks to demonstrate that civil wars can be primarily understood as a function of a rebelling force’s economic motivations and explores the concept of King Cotton, westward expansion, and the South’s ultimate secession from the …
Working Paper No. 50, Alexis De Tocqueville On American 'Exceptionalism', Zachary Mckinster
Working Paper No. 50, Alexis De Tocqueville On American 'Exceptionalism', Zachary Mckinster
Working Papers in Economics
From early settlers to the sophisticated nuances and concerns facing Americans in his time, Alexis de Tocqueville authored a definitive piece on democracy as it emerged and was practiced in 19th century America. This inquiry seeks to establish that Tocqueville’s penetrating insights into the United States in its early decades assisted him in arriving at the notion of what is widely touted as American ‘Exceptionalism’. In the first half of the 19th century Tocqueville travelled widely, seeking to understand this republic and its constitutional emphases upon principles of democracy. Completing his tour, in 1835 Tocqueville published Democracy in America. It …
Working Paper No. 39, Neoliberalism As A Variant Of Capitalism, Justin Pilarski
Working Paper No. 39, Neoliberalism As A Variant Of Capitalism, Justin Pilarski
Working Papers in Economics
Economic systems evolve over time in adapting to the needs and deficiency of the system. This inquiry seeks to establish Neoliberalism as—in the language of Barry Clark—a variant of capitalism that evolved out of retaliation of the regulated variant of capitalism. We utilize Barry Clark’s work on the evolution of economic systems in establishing the pattern of adaptation in American capitalism. Then we establish and analyze the neoliberal variant of capitalism in how this evolution retaliated against the existing system rather than adapting the preceding variant. We then consider how the economics profession reacted when the neoliberal economic policies failed …
Working Paper No. 21, The Union Of Democracy And Socialism: Towards An Intellectual Biography Of Karl Kautsky, Leo Kendall
Working Paper No. 21, The Union Of Democracy And Socialism: Towards An Intellectual Biography Of Karl Kautsky, Leo Kendall
Working Papers in Economics
This inquiry seeks to establish that Karl Kautsky’s vision of social democracy considered and incorporated the best of his day’s socialist theory, leading to the creation of a powerful formula that has also proved enduring, leading towards the achievement of socialist goals. Karl Kautsky was influenced by his work with Karl Marx, Eduard Bernstein and Friedrich Engels. During his time with these noted thinkers he created a unique form of socialism that today is termed ‘social democracy’. Kautsky advanced the view that socialism could better survive when it integrated democracy. Socialism cannot have a period of dictatorship for implementation, but …
Working Paper No. 04, Marx And Religion, Lauren Sweger-Hollingsworth
Working Paper No. 04, Marx And Religion, Lauren Sweger-Hollingsworth
Working Papers in Economics
This inquiry seeks to establish that, in his writings, Karl Marx offers his perspectives on religion. The origins of Marx’s conception of religion can be traced to his family history, adolescence, and time at the University of Berlin. Marx’s criticism of contemporary philosophy offers a penetrating account of his views on religion, proving critical of the individualism and idealism implemented by his contemporaries. In Marx’s judgement, religion offers a false sense of solace in a world marked by abuse. Religion rationalizes domination, sows societal divisions, and preserves oppressive institutions. Marx’s materialist approach focuses on the real-life relations and activities within …
Working Paper No. 05, Proudhon, Bakunin And Anarcho-Socialism, Lauren Sweger-Hollingsworth
Working Paper No. 05, Proudhon, Bakunin And Anarcho-Socialism, Lauren Sweger-Hollingsworth
Working Papers in Economics
This inquiry seeks to establish that Pierre-Joseph Proudhon and Mikhail Bakunin advanced ideas supporting what can be identified as anarcho-socialism, and the distinctness in their approaches can also be associated with splits that emerged with the First International Workingmen’s Association. For Proudhon, the institution of property entrenches inequality. In Proudhon’s judgement, society must orient towards advancing independence, proportionality, equality, and individual autonomy without limitations from legal structures. In Bakunin’s anarcho-socialist view, society must reject all forms of authority. In Bakunin’s conception of society, economic and political structures must be constructed from base to summit, founded upon the rights of free …
Working Paper No. 13, Friedrich List And National Development, Mitch B. Priestley
Working Paper No. 13, Friedrich List And National Development, Mitch B. Priestley
Working Papers in Economics
This inquiry seeks to establish that Friedrich List offers an approach to national economic development based upon implementing policies. List conceptualizes and describes a situation wherein the United States, along with Germany and some other Continental European countries, face challenges dissimilar to Britain. List emphasizes an alternate approach towards national development that flies in the face of Adam Smith’s laissez-faire, free-trade prescription, focusing instead upon the powers of production, that he suggests, offer a proper measure of a nation’s wealth. List is a limited protectionist who advocates for national policies suited to a nation based upon its history and level …
Working Paper No. 15, Jevons’ Selective Interpretation Of Bentham, Devin Bales
Working Paper No. 15, Jevons’ Selective Interpretation Of Bentham, Devin Bales
Working Papers in Economics
This inquiry seeks to establish that in The Theory of Political Economy, W. Stanley Jevons offers a selective interpretation of Jeremy Bentham’s notion of utility. Moreover, Jevons does so in a manner that generates enduring implications for Economics as a science. Special emphasis is placed upon Jevons’ use of Bentham’s understanding of the circumstances that direct pursuits of pleasure and avoidance of pain. Emphasized is that Jevons’ omission of ‘fecundity, purity, and extent’ as quantifiers of utility, creates enduring implications that emerged years after his book’s publication in 1871. What is finally considered are some of the difficulties associated …
Working Paper No. 16, Had We Paid Attention To Keynes?, Saidhbhe Quigley
Working Paper No. 16, Had We Paid Attention To Keynes?, Saidhbhe Quigley
Working Papers in Economics
This inquiry seeks to establish that a host of problems could have been averted had we paid attention to Keynes. In the view of Keynes (2013, pp. 23-28), the Versailles Treaty was unnecessarily punitive towards Germany. He explains that the terms negotiated during the Paris Peace Conference were at odds with the agreement that took place during the Armistice when both sides decided to lay down their weapons and end fruitless battling. Consequently, following the Wall Street Crash of 1929, Germany registered as one of the most nations most tragically affected by the Great Depression. This is partially because of …
Working Paper No. 17, William Petty And Political Economy, Clarissa Allen
Working Paper No. 17, William Petty And Political Economy, Clarissa Allen
Working Papers in Economics
This inquiry seeks to establish that during the first part of the 1600s, William Petty generated original contributions to political economy. Subsequent to the Irish rebellion and in the wake of the English occupation of Ireland, Petty led a team of surveyors for measuring out areas of Ireland. The survey that he led mapped selected territories and detailed numerous characteristics, thus employing an early, rudimentary, but highly insightful census method. Petty sought to describe his world objectively and quantitatively through the use of numbers, weights, and measures – rather than subjectively. Petty developed a method of calculation still famously known …
Working Paper No. 18, Thomas Piketty On Capital And Inequality, Max Randall
Working Paper No. 18, Thomas Piketty On Capital And Inequality, Max Randall
Working Papers in Economics
This inquiry seeks to establish that, in his Capital in the Twenty-First Century, Thomas Piketty advances ideas concerning the origins and implication of economic inequality. Piketty commences his inquiry by considering and detailing wage differences amongst distinct classes of society. This mechanism for the distribution of income is compared across selected nations, and the differing tendencies over time are examined in detail. Distinct from working wages, Piketty considers income effects associated with capital ownership. Adding to this, Piketty shows that effects of inheritance need be considered as capital is passed to successive generations, thereby allowing the accruing of monetary …
Working Paper No. 20, Veblen And The Question Of Sexual Selection, Jenica M. Kramer
Working Paper No. 20, Veblen And The Question Of Sexual Selection, Jenica M. Kramer
Working Papers in Economics
This inquiry seeks to counter a hypothesis recently advanced by Jon D. Wisman; which states that Thorstein Veblen “missed” the opportunity to incorporate sexual selection into his evolutionary economics. To the contrary, I shall argue that Veblen’s vision is not at all lacking and that he intentionally failed to integrate into his evolutionary thinking the animal drive of sexual selection. First-off, I offer an account of Wisman’s thesis and this is followed by a refutation of his argument while making use of Veblen’s key concepts. Tracing the evolution of “conspicuous consumption” to its social inception, I endeavor to reveal the …