Economic Theory Commons^™

Working Paper No. 25, On The Importance Of Contributions By Robert Torrens, Mitchell Veele

Working Papers in Economics

This inquiry seeks to establish that although hardly recognized, Robert Torrens’ contributions prove significant and also provided bases for advances later credited to David Ricardo. In his first published work, An Essay on the External Corn Trade [1815], Torrens discusses at length the negative consequences of Britain’s Corn Laws, based upon the practice of restricting foreign corn imports. Through this prescient work, Torrens should be considered as the first to advance several concepts and principles that prove foundational for classical economic thought. Though attributed to David Ricardo, the principle of comparative advantage was actually first described by Torrens and another …

Working Paper No. 26, Basic Tenets Of The Austrian School Of Economics, Vladislav Yurlov

Working Papers in Economics

The Austrian school of economic thought has offered many ideas throughout its more than century old history. Beginning with Carl Menger’s Principles of Economics, the focus of this school dealt with individuals acting in a society for the benefit of everyone. With liberalism at their core, thinkers such as Friedrich von Wieser, Ludwig von Mises, and Friedrich Hayek saw economics as a practical approach to living. This inquiry seeks to establish that the Austrian school of economics advanced basic tenets. Building off of, and often creating their own ideas, Austrian economists gave rise to the principles of marginalism, significance …

Working Paper No. 27, Processes In Capital Accumulation Leading Towards Inequality, Matthew Perez

Working Papers in Economics

This inquiry considers, compares, and contrasts two different theoretical explanations of processes leading towards capital accumulation and also inequality. First considered is Immanuel Wallerstein’s Historical Capitalism. In this book he advances and stresses that processes leading towards capital accumulation are inherently unequal, as these processes are based upon commodification, proletarization, and jurisdiction. The second part considers the views advanced by Thomas Picketty. In his Capital in the Twenty First Century, Picketty offers a fundamentally different understanding of what drives and leads towards capital accumulation and income inequality. In contrasts to Wallerstein, Picketty explains that the dynamic generating capital …

Working Paper No. 31, Marx And Proudhon: Two Visions Of Socialism, Lillian Garcia

Working Papers in Economics

This inquiry seeks to establish that Karl Marx and Pierre-Joseph Proudhon espoused fundamentally different visions of socialism. Marx regarded Proudhon with initial enthusiasm and joined the left at large in celebrating his 1840 essay, What is Property? However, in 1846, when Proudhon attempted to solve the problems of capitalism in his work, System of Economic of Contradictions or The Philosophy of Poverty, Marx took to his pen for an unsparing attack, authoring his The Poverty of Philosophy. At the crux of their split were two analyses of the status of labor and two competing prescriptions for change. While …

Working Paper No. 34, Rosa Luxemburg And Joan Robinson On The Accumulation Of Capital, Brian Vistica

Working Papers in Economics

This inquiry seeks to establish that both Rosa Luxemburg and Joan Robinson advanced ideas on the accumulation of capital. Related to their social status in their respective eras, each proposed their distinct ideas on the expansion of production and the accumulation of capital. Both scholars bring into consideration the alarming ways that a seemingly ceaseless expansion in turn calls for an expansion of a marketplace for generating sufficient levels of demand for output. These two authors offer historical examples drawn from around the globe, ranging from the commodification of land on the Indian subcontinent to the Opium Wars in China, …

Working Paper No. 24, Economic Thought During Japan’S Meiji Era, Karson M. Pence

Working Papers in Economics

This inquiry seeks to establish that it was Fukuzawa Yukichi who played a key roled in developing ideas that assisted the modernization of Japan, leading up to and especially after the Meiji Reformation of 1868. In An Outline of a Theory of Civilization [1875], Fukuzawa advances a clear understanding that Japan should make the shift from a producer nation to a manufacturer nation, and without having to bear the costs of importing vast sums of foreign capital. Under suspicion that the 250 year rule of the Bakufu left the Japanese economy stagnant and weak, Fukuzawa asserted that the only means …

Working Paper No. 33, Behavioral Assumptions In Jevons And Menger, Yvan Saastamoinen

Working Papers in Economics

In their key works, W. Stanley Jevons (1835-1882) and Carl Menger (1840-1921) introduce crucial behavioral assumptions as these relate to individual and aggregate economic activity. The assumptions found in Jevons’ work primarily focus on the ‘Pain and Pleasure Principle’, originally established by Jeremy Bentham, and how the human characteristic of inevitable variability interacts with basic needs. Subsequently, Menger’s contribution is centered on the idea that the value of a good is inherently subjective and also dependent upon human variability. This inquiry, therefore, seeks to establish that Jevons’ and Menger’s behavioral assumptions led to their being classified as early ‘behavioral’ economists. …

Synergies And Tradeoffs Among Sdgs And Policies (Syntrap) - June 2019, John A. Oldekop

Forest Collaborative Research

Presentation focuses on the following research questions:

1) Under what conditions do policies and programs aimed at achieving SDG 15—in particular by conserving or restoring forests—promote or inhibit achieving other SDGs?

2) Under what conditions do policies and programs aimed at achieving SDGs other than SDG 15 promote or inhibit achieving SDG 15?

3) Under what conditions do various policies and programs aimed at conserving or restoring forests (SDG 15) have synergies or tradeoffs with each other?

4) What policy lessons can be learnt from cases where synergies and tradeoffs have occurred, and how can these lessons be used to …

Forests And Health In Mexico: Preliminary And Pre-Preliminary Work - June 2019, Alejandro López-Feldman

Forest Collaborative Research

Presentation focuses on subjective wellbeing and natural protected areas in Mexico

Effects Of Water Funds Projects On Forest Loss And Water Quality In Ecuador And Brazil, Allen Blackman, Laura Villalobos

Forest Collaborative Research

Presentation focuses on Water Funds Projects

Devolution And Collective Action In Forest Management: The Case Of China - June 2019, Yuanyuan Yi, Jintao Xu, Gunnar Köhlin

Forest Collaborative Research

This paper examines: Can further devolution trigger collective action in forest management and benefit member households?

Empirically-Informed Agent Based Modeling Of Incentivized Forest Conservation - June 2019, Amare Teklay Hailu

Forest Collaborative Research

Presentation focuses on payment for ecosystem services (PES) and framed field experiment (FFE).

Key Emerging Issues For Forests And Livelihoods In The 21st Century - June 2019, John A. Oldekop, Laura Vang Rasmussen, Arun Agrawal, Anthony Bebbington, David N. Bengston, Allen Blackman, S. Brooks, Iain Davidson-Hunt, Penny Davies, S. C. Dinsi, L. B. Fontana, T. Gumucio, C. Kumar, K. Kumar, P. Meyfroidt, D. Moran, T. H. Mwampamba, Robert Nasi, Margareta Nilsson, Miguel A. Pinedo-Vasquez, Jeanine M. Rhemtulla, William J. Sutherland, C. Watkins, Sarah Jane Wilson

Forest Collaborative Research

Presentation about the FLARE network. The mission of the FLARE network is to establish a Community of Practice that advances the state of knowledge of the intersection of forests and livelihoods. In bringing together stakeholders – researchers, practitioners, donors, and decision makers – FLARE will leverage efforts that enrich the understanding of forest livelihood interactions.

The researchers focus on the most pressing conceptual, political, and practical issues concerning forests and livelihoods.

Connecting Forests And Human Health Using The Demographic And Health Surveys (Dhs), Ranaivo Rasolofoson

Forest Collaborative Research

Presentation focuses on the relationships between ecosystem alteration and human health.

Indonesia, Forest Fires, Haze, Height: Case For Planetary Health Economics - June 2019, Subhrendu K. Pattanayak

Forest Collaborative Research

Presentation focuses on environmental health economics in low and middle income countries.

Impact Of Climate Change On Wildfire Across China, Based On Plot-Level Data From National Forest Inventory - June 2019, Shilei Liu, Jintao Xu

Forest Collaborative Research

Presentation focus on the impact of climate change on wildfires across China.

Working Paper No. 12, Technological Convergence And Institutional Evolution In The Energy Sector, James Bennett

Working Papers in Economics

Over a span of more than a hundred years, fossil fuel production could be considered as a long-standing ceremonial technology in the Veblenian sense. However in recent times, due to rapid innovation through technological convergence, renewable energy is becoming just as cost effective and threatens to replace fossil fuels. Robert McCullough observes this change in renewable energy costs, in his report “The End of Big Iron”. Thorsten Veblen’s dichotomy between ceremonial and instrumental technologies, and his thoughts on institutional change can also aide in explaining this recent struggle between “ceremonial” fossil fuels and “instrumental” renewable energy technologies. Nathan Rosenberg should …

Working Paper No. 14, Gramsci, Dugger And Hegemony, Devin Bales

Working Papers in Economics

This inquiry seeks to establish connections between William Dugger’s understanding of subreption leading to corporate hegemony with Antonio Gramsci’s understanding of power and the hegemon. Specifically, this inquiry examines the similarities between both authors’ descriptions and understandings of power in a civil society. Going further, I draw parallels between Gramsci’s description of ‘passive revolution’ as a key process for achieving hegemony and Dugger’s explanation of the role ‘subreption’ plays in the rise of corporate hegemony in the United States. Finally, this inquiry explores connections between Gramsci’s writings on ‘Americanism’ and Dugger’s research into ‘corporate hegemony’. While Dugger does not cite …

Working Paper No. 03, Thorstein Veblen And The Vested Interests, Lauren Sweger-Hollingsworth

Working Papers in Economics

This inquiry seeks to establish the importance of "vested interests" as introduced and relied upon within Thorstein Veblen’s system of reasoning. Veblen considers vested interests from two different perspectives in his 1919 book The Vested Interests and the Common Man. First, Veblen considers the relationships between vested interests and what he terms “the business enterprise”. Veblen takes a historical view, relating vested interests to lingering laws and customs of an old era that continue to be applied in modern times. In addition, Veblen considers vested interests and "the divine right of nations", which he connects to the historical institution of …

Working Paper No. 11, The 'Green' New Deal In Light Of Roosevelt's New Deal, Gabriel Duvidovich

Working Papers in Economics

This inquiry seeks to establish that the current proposal for a Green New Deal shares similarities and dissimilarities with Roosevelt´s New Deal. The House Resolution submitted to Congress at the beginning of 2019 proposes public policies that aim to address global warming, inspired by how Franklin Roosevelt´s New Deal addressed the Great Depression. The first part of this essay will analyze the origin and the main policies of Roosevelt´s New Deal. Moreover, the article will examine the policy foundations proposed on the Green New Deal House Resolution. Finally, the inquiry will try to understand the connections between the original New …

Working Paper No. 19, Werner Sombart And National Socialism, Jenica M. Kramer

Working Papers in Economics

This inquiry seeks to establish that Werner Sombart serves as an example of an exponent of the German Historical School of Economic Thought who joined the National Socialists. This thesis is explored in three sections. The first examines the historical context in which Sombart was reared, considering aspects of his family life, economic class, education, and early academic career. In addition, this section explores Sombart’s relations to the Historical School and his mentor Gustav Schmoller, as well as Sombart’s relation to Marxism and socialism. The second section of this inquiry seeks to trace the changes in Sombart’s ideology that eventually …

Working Paper No. 29, Lina Khan, New Technologies, And Institutional Reform, Lillian Garcia

Working Papers in Economics

This inquiry seeks to establish that Lina Khan’s work brings to light the importance of reforming institutions in order to address the challenges of internet technology. As the dominance of a small number of technology giants has increased to unforeseen proportions, legal mind Lina Khan has emerged as a leading voice in the call for an updated legal framework, as well as a revision of current economic understanding, to address the new forms of monopoly power these firms practice. The first part of this inquiry examines Chicago School dominance over economic thought and its effect on antitrust enforcement over the …

Working Paper No. 10, The Epic Rise And Subtle Fall Of American Herbalism, Julia Schweid

Working Papers in Economics

This inquiry seeks to establish that we can track the development and evolution of herbalism as the initial form of medicine in American economic history. Upon colonization of North America, the indigenous people generously shared their knowledge of plant medicine with the settlers from Europe. The indigenous knowledge combined with the translation of ancient herbal texts created a synthesis of understanding and an important form of cultural exchange. People then began making attempts to standardize the medicine and its potency was compromised with the rise of the industry in patent medicine, or what I have named pseudo herbalism. It was …

Working Paper No. 22, Coffee And The American Independence Movement, Ross Bradner

Working Papers in Economics

Coffee has a long history as a motivating force in society, as can be seen through its history in different parts of the world. The introduction of coffee houses to western culture would promote the emergence of a public sphere, and would come to influence revolutionary behavior in both Western Europe and the North American colonies.

Working Paper No. 28, Roots Of The American Labor Movement, Lillian Garcia

Working Papers in Economics

This inquiry seeks to establish that early developments in America’s workforce helped to shape the national labor movement that emerged at the end of the 19th Century. The first section discusses the changing social, economic, and legal landscapes from the colonial era to the Industrial Revolution. The second section examines the history of concerted action amongst the free and bound working classes leading up to 1842, when the case Commonwealth v. Hunt established the previously contested per se legality of labor combinations. The final section discusses developments in labor organization during the decades following Hunt, in which, amidst …

Working Paper No. 38, Baseball In The Nineteenth Century: From Sport To Business, Brian Burres

Working Papers in Economics

This inquiry seeks to establish that in the 19^th century baseball transitioned from a sport to a business activity. At the outset, the game of baseball was first played for the enjoyment of the players and spectators. Typically, teams were composed of players stemming from the towns for which they played, and early organized leagues enacted rules to keep the game played as a serious activity—but for amateurs. As the 19^th century came towards its close, these amateur leagues were challenged by the emergence of new, professional leagues, and players took the liberty to play for the teams …

Impact Of Protected Areas On The Incidence Of Infectious Diseases - June 2019, Rodrigo A. Arriagada

Forest Collaborative Research

Research objective: To estimate the impact of the Chilean National System of Protected Areas on the incidence of infectious diseases, considering socioeconomic, demographic, biophysical and land use factors.

Working Paper No. 08, A Non-Equilibrium Approach To Economics: Towards An Intellectual Biography Of Gunnar Myrdal, Leo Kendall

Working Papers in Economics

This inquiry seeks to establish that Gunnar Myrdal provided a foundation for and also practiced a non-equilibrium approach to economics. Throughout his career, Gunnar Myrdal was tasked with researching and providing policy for some of the most pressing economic issues of the 20th century. This inquiry considers and examines what I have selected as the most important areas of research over the span of Myrdal’s career, while showing how and why a nonequilibrium was required. First, I start with racial inequality and how Myrdal’s research broke ground on the subject. Next, I consider his key contribution towards understanding regional inequality …

Book Review: Aleman, Richard (Ed). The Hound Of Distributism: A Solution For Our Social And Economic Crisis, Anthony Philip Stine

Hatfield Graduate Journal of Public Affairs

Aleman and the collected authors provide a starting point for investigating modern Distributist writings. Distributism is a 'third way' private property-based economic system focused on decentralization of power, a focus on family life and reconceptualizing our relationships between individuals, families, the state and large economic actors. Essays range from the topics of totalitarianism and big government to pastoralism and permaculture. Contributing authors include classic Distributists like GK Chesterton and modern writers such as Joseph Pearce, Dale Ahlquist, Philip Maxence and Ryan Grant. The selected authors present a snapshot of a theory that presents a means towards achieving sustainability through decentralization …

East Asian Economies And Financial Globalization In The Post-Crisis World, Joshua Aizenman, Hiro Ito

Economics Faculty Publications and Presentations

This paper assesses the East Asian Economies’ openness to cross-border capital flows and exchange rate arrangements in the past decades, with the main focus on emerging market economies. Using Mundell’s trilemma indexes, we note that the convergence of the three policy goals in East Asia toward a “middle ground” pre-dates the convergence of these indices in other regions. Another more recent development involves the high level of international reserve (IR) holdings–a feature that is known as the most distinct characteristic of Asian EMEs. Financial globalization seems to have made asset prices and interest rates in Asian EMEs more vulnerable to …