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Full-Text Articles in Economic History

Regional Economic Development―A Survey Of Theories In The Past Two Centuries (1800-2000), Xiaohong Quan Jan 2016

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. …


The Upside Of Government Default, Jeffrey Rogers Hummel Feb 2012

The Upside Of Government Default, Jeffrey Rogers Hummel

Faculty Publications

No abstract provided.


The Upside Of Government Default, Jeffrey Rogers Hummel Feb 2012

The Upside Of Government Default, Jeffrey Rogers Hummel

Jeffrey Rogers Hummel

No abstract provided.


Some Possible Consequences Of A U.S. Government Default, Jeffrey Rogers Hummel Jan 2012

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.


Some Possible Consequences Of A U.S. Government Default, Jeffrey Rogers Hummel Jan 2012

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

Jeffrey Rogers Hummel

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 Apr 2011

America's Turning Point, Jeffrey Rogers Hummel

Faculty Publications

No abstract provided.


The Question Of Slavery, Jeffrey Rogers Hummel Apr 2011

The Question Of Slavery, Jeffrey Rogers Hummel

Faculty Publications

No abstract provided.


The Question Of Slavery, Jeffrey Rogers Hummel Apr 2011

The Question Of Slavery, Jeffrey Rogers Hummel

Jeffrey Rogers Hummel

No abstract provided.


America's Turning Point, Jeffrey Rogers Hummel Apr 2011

America's Turning Point, Jeffrey Rogers Hummel

Jeffrey Rogers Hummel

No abstract provided.


Government’S Diminishing Benefits From Inflation, Jeffrey Rogers Hummel Nov 2010

Government’S Diminishing Benefits From Inflation, Jeffrey Rogers Hummel

Jeffrey Rogers Hummel

No abstract provided.


The Rise And Fall Of Glass-Steagall, Jeffrey Rogers Hummel, Warren C. Gibson Oct 2010

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

Faculty Publications

No abstract provided.


The Rise And Fall Of Glass-Steagall, Warren C. Gibson, Jeffrey Rogers Hummel Oct 2010

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

Jeffrey Rogers Hummel

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 Jul 2010

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 Jan 2010

Government’S Diminishing Benefits From Inflation, Jeffrey Rogers Hummel

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 Jan 2010

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

Jeffrey Rogers Hummel

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.


Monetary Lessons From The Not-So-Great Depression, A Round-Robin Essay Debate With Scott Sumner, James Hamilton, And George Selgin, Jeffrey Rogers Hummel Sep 2009

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.


Monetary Lessons From The Not-So-Great Depression, A Round-Robin Essay Debate With Scott Sumner, James Hamilton, And George Selgin, Jeffrey Rogers Hummel Sep 2009

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

Jeffrey Rogers Hummel

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 Aug 2009

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.


Review Of Good Money: Birmingham Button Makers, The Royal Mint, And The Beginnings Of Modern Coinage, 1775-1821 By George Selgin, Jeffrey Rogers Hummel Aug 2009

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

Jeffrey Rogers Hummel

No abstract provided.


Why Default On U.S. Treasuries Is Likely, Jeffrey Rogers Hummel Aug 2009

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

Faculty Publications

No abstract provided.


Why Default On U.S. Treasuries Is Likely, Jeffrey Rogers Hummel Aug 2009

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

Jeffrey Rogers Hummel

No abstract provided.


Will We Be Stimulated? Economists Sound Off On Obama’S Stimulus Package Reason, Nick Gillesie, Jeffrey Rogers Hummel, Meg Mcardle May 2009

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.


Will We Be Stimulated? Economists Sound Off On Obama’S Stimulus Package Reason, Nick Gillesie, Jeffrey Rogers Hummel, Meg Mcardle May 2009

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

Jeffrey Rogers Hummel

No abstract provided.


Civil War Finance: Lessons For Today, Jeffrey Rogers Hummel Apr 2009

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 Mar 2009

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

Faculty Publications

No abstract provided.


Was Money Really Easy Under Greenspan?, David R. Henderson, Jeffrey Rogers Hummel Mar 2009

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

Jeffrey Rogers Hummel

No abstract provided.


The Fed’S Binge, Jeffrey Rogers Hummel Jan 2009

The Fed’S Binge, Jeffrey Rogers Hummel

Faculty Publications

No abstract provided.


Civil War Finance: Lessons For Today, Jeffrey Rogers Hummel Jan 2009

Civil War Finance: Lessons For Today, Jeffrey Rogers Hummel

Jeffrey Rogers Hummel

No abstract provided.


The Fed’S Binge, Jeffrey Rogers Hummel Jan 2009

The Fed’S Binge, Jeffrey Rogers Hummel

Jeffrey Rogers Hummel

No abstract provided.


Greenspan’S Monetary Policy In Retrospect: Discretion Or Rules?, Jeffrey Rogers Hummel, David R. Henderson Nov 2008

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

Faculty Publications

No abstract provided.