Economic History Commons^™

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 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

Jeffrey Rogers Hummel

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

Faculty Publications

No abstract provided.

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

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

Faculty Publications

No abstract provided.

A Nation In Dilemma, Professor Issam A.W. Mohamed

Professor Issam A.W. Mohamed

following the Global financial Crisis there were economic collapses in all the world. Sudan officials claimed that the country was immune from that epidemic. Such declaration were truly weird as it has been deeply affected from the first instant. That article presented many questions about the economic and social conditions and the eminent southern Sudan, Darfur crises.

Alternative Estimators Of Cointegrating Parameters In Models With Non-Stationary Data: An Application To Us Export Demand (Working Paper), James J. Forest, Paul Turner

James J Forest

This paper presents Monte Carlo simulations which compare the empirical performance of two alternative single equation estimators of the equilibrium parameters in a dynamic relationship. The estimators considered are Stock and Watson’s dynamic ordinary least squares (DOLS) estimator and Bewley’s transformation of the general autoregressive distributed lag model. The results indicate that the Bewley transformation produces a lower mean-square error as well as superior serial correlation properties even with lower truncation lags for the lagged variables included in the estimation equation. An application is then provided which examines the nature of the equilibrium relationship between aggregate US exports, world trade …

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

Jeffrey Rogers Hummel

No abstract provided.

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

Faculty Publications

No abstract provided.

Religion, Longevity, And Cooperation: The Case Of The Craft Guild, Gary Richardson

Gary Richardson

Whenthe mortality rate is high, repeated interaction alonemaynot sustain cooperation, and religion may play an important role in shaping economic institutions. This insight explains why during the fourteenth century, when plagues decimated populations and the church promoted the doctrine of purgatory, guilds that bundled together religious and occupational activities dominated manufacturing and commerce. During the sixteenth century, the disease environment eased, and the Reformation dispelled the doctrine of purgatory, necessitating the development of new methods of organizing industry. The logic underlying this conclusion has implications for the study of institutions, economics, and religion throughout history and in the developing world …

Identidade Cultural E Desenvolvimento Regional: Um Olhar Para Os Municípios Da Secretaria De Desenvolvimento Regional De Canoinhas/Sc., Jorge Amaro Bastos Alves, Sandro Perotti

Jorge Amaro Bastos Alves

RESUMO: Esse artigo aborda o entendimento sobre cultura e seu influxo no desenvolvimento da região de abrangência da Secretaria de Desenvolvimento Regional (SDR) de Canoinhas, situada no planalto norte do Estado de Santa Catarina, trabalhando-se a questão identitária e cultural sob vários aspectos do desenvolvimento, bem como, analisando alguns indicadores sócio-econômicos e de desenvolvimento humano. Para o desenvolvimento desse artigo, realizou-se pesquisa exploratória e bibliográfica com base em livros, teses e artigos versando sobre o tema, bem como, fez-se um levantamento estatístico disponível em órgãos governamentais, tais como, Instituto Brasileiro de Geografia e Estatística (IBGE) e Programa das Nações Unidas …

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.

The Janjaweed And The Armed Movements Of Sudan, Professor Issam A.W. Mohamed

Professor Issam A.W. Mohamed

The emergence of the Janjaweed as an armed force working with the government to suppress rebellions in Darfur region outraged the international community. They were marked by brutality, destruction, burning, killings and mass rapes. They were also described as Arabs. However, that was not the whole picture, no one observed the living conditions of the Arabs or how were they victims also as the other inhabitants of Darfur. No one also observed that they were used by the Ingaz government to execute the dirty work and bear the consequences. The Arab tribes however, also had other thoughts as they realized …

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.

Labor-Market Regimes In U.S. Economic History, Joshua L. Rosenbloom, William A. Sundstrom

Joshua L. Rosenbloom

In much economic analysis it is a convenient fiction to suppose that changes over time in wages and employment are determined by shifts in supply or demand within a more or less competitive market framework Indeed, this framework has been effectively deployed to understand many episodes in American economic history. We argue here, however, that by minimizing the role of labor-market institutions such an approach is incomplete. Drawing on the history of American labor markets over two centuries, we argue that institutions—by which we mean both formal and informal rules that constrain the choices of economic agents—have played a significant …

Intensified Regulatory Scrutiny And Bank Distress In New York City During The Great Depression,” With Patrick Van Horn, Gary Richardson

Gary Richardson

Bank distress peaked in New York City, at the center of the United States money market, in July and August 1931, when the banking crisis peaked in Germany and before Britain abandoned the gold standard. This article tests competing theories about the causes of New York’s banking crisis. The cause appears to have been intensified regulatory scrutiny, which was a delayed reaction to the failure of the Bank of United States, rather than the exposure of money center banks to events overseas.

Assessing The Viability Of Investment In Sudan (1979-2008), Professor Issam A.W. Mohamed

Professor Issam A.W. Mohamed

Most developing and underdeveloped countries beside Sudan suffer from low levels of income in addition to the low savings that are result from the lack of public savings channels. Hence, investments depend on the individuals' abilities on savings where they are major motivating vehicle for economic activity due to its direct correlation with capital accumulation process that increases the productive capacity for the national economy and help to create job opportunities and achieving economic development. Subsequently, the importance of the investment comes from the effective role that can be practiced on the national product. Currently, Sudan endures severe economic crisis …

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.

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.

Measuring The Effect Of Conflict On Oil Production And Prices, Benjamin Skomsky

Honors Capstone Projects - All

This paper examines the degree to which armed conflict interrupts oil production, and the effects of these supply shocks on the region-specific oil prices. By measuring the effect of conflict on oil output, I aim to quantify one important and underexamined economic cost of conflict. By examining the effect on oil prices, I hope to provide new empirical evidence on the global demand curve for oil and the substitutability of demand across alternative oil types.

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 …

Elementos Endógenos Como Fatores Do Desenvolvimento Local Das Cidades: Uma Reflexão Sobre O Município De Piraquara/Pr, Jorge Amaro Bastos Alves

Jorge Amaro Bastos Alves

Pretende-se com esse artigo alcançar um pouco as dimensões que tanjam o desenvolvimento local e seu influxo no desenvolvimento do município de Piraquara/PR. Cogita-se que os princípios do desenvolvimento local devem ser buscados como pilares de um modelo de desenvolvimento que harmonize a produção econômica e os recursos naturais, e que seja capaz de proporcionar um bom nível de qualidade de vida para a sociedade. Contudo, acredita-se que para alavancar o desenvolvimento em suas múltiplas dimensões, é necessário coexistir uma mobilização de recursos endógenos e exógenos. Particularmente no caso do município em questão, pelo fato de seu território ser dotado …

Rogue Counrty And Potential Cooperation: The United States And Sudan And Feasible Economic Partnership, Professor Issam A.W. Mohamed

Professor Issam A.W. Mohamed

The United States declared Sudan as a rogue country in 1995 due to many political considerations. It has imposed many economic and political sanctions against it since that time which represented hindrance to development and resulted in economic crises. Oil explorations started long time by Total Oil Company and resumed by Chevron that halted her activities in Sudan after the flaring of the civil war between the Northern and Southern parts of the country. That work was resumed in 1996 by Chinese companies and was crowned by success and commercial production in 1999. Although the economic situations of Sudan improved …

Who Cries For Sudan: من الذي يرثي السودان, Professor Issam A.W. Mohamed

Professor Issam A.W. Mohamed

The institutional collapse in Sudan started long time ago. However, it has accelerator in the past years since Nivasha Comprehensive Peace Agreement and Darfur war.

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

Faculty Publications

No abstract provided.

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

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 …