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Econ Journal Watch (EJW) is an online academic journal publishing Comments on economics research, articles appearing in economics journals, and the ec COLONIAL NEW JERSEY'S PAPER MONEY: A REPLY TO MICHENERAUTHOR: FARLEYGRUBB
In the September 2020 issue of Econ Journal Watch, Ronald Michener published his seventh critical comment on my research.As in my past replies, I demonstrate that Michener is misguided. I demonstrate that Michener does not understand basic microeconomic theory; that Michener does not understand rational expectations or how to make it operational; that Michener does not understand my GENDER, RACE AND ETHNICITY, AND INEQUALITY RESEARCH IN THE The topics of gender, race and ethnicity, and inequality are important economic and social issues. In this paper, we analyze how often those topics are addressed in two outlets of the American Economic Association: peer-reviewed papers in the American Economic Review and the conference papers from the AEA ’s annual meeting that are published in its Papers and Proceedings. ADAM SMITH'S IMPARTIAL SPECTATOR · ECON JOURNAL WATCH In Smith’s naturalistic account of morals, the impartial spectator might be seen as problematic: If this spectator were interpreted as an ideal observer, an omniscient judge, or as the representative of God speaking to us through our conscience, it would be inconsistent with Smith’s naturalistic ambitions. REPUBLICANS NEED NOT APPLY: AN INVESTIGATION OF THE industry, and 8.7:1 for students.9 For federal political contributors, the ratios are 17.8:1 for academics, 7.3:1 for government workers, 7.1:1 for economists who work in industry, and 20:0 for students. INTRODUCTION TO “THE SOCIAL THEORIES OF CLASSICAL Introduction to “The Social Theories of Classical Political Economy and Modern Economic Policy” Erwin Dekker1 and Stefan Kolev2 In 1890, the centenary of Adam Smith’s death was used by Carl Menger SKEPTICISM ABOUT MINSKY'S FINANCIAL INSTABILITY HYPOTHESIS Skepticism About Minsky’s Financial Instability Hypothesis: A Comment on Flanders Lawrence H. White1 LINK TO ABSTRACT Hyman Minsky was an important heterodox monetary economist. RENT CONTROL: DO ECONOMISTS AGREE? Rent contRol: do economists agRee? 77 Volume 6, numbeR 1, Jan 2009. ation controls. (Arnott 1995, 118) he case against second-generation rent controls is so weak that THE WAR ON CASH: A REVIEW OF KENNETH ROGOFF’S THE CURSE OF The War on Cash: A Review of Kenneth Rogoff’s The Curse of Cash Jeffrey Rogers Hummel1 LINK TO ABSTRACT FACULTY VOTER REGISTRATION IN ECONOMICS, HISTORY have data for.5 Figure 1 lists the 40 universities, listed in order of the D:R ratio for the faculty in the five fields investigated (Economics, History, Law, Journalism/ Communications, and Psychology). For example, in ninth place is Columbia Uni- ECON JOURNAL WATCH: SCHOLARLY COMMENTS ON ACADEMIC ECONOMICSARTICLES ARCHIVEABOUT ABOUT & CONTACTSUBMISSIONS CALL FOR PAPERSNEWS NEWS &PRESS
Econ Journal Watch (EJW) is an online academic journal publishing Comments on economics research, articles appearing in economics journals, and the ec COLONIAL NEW JERSEY'S PAPER MONEY: A REPLY TO MICHENERAUTHOR: FARLEYGRUBB
In the September 2020 issue of Econ Journal Watch, Ronald Michener published his seventh critical comment on my research.As in my past replies, I demonstrate that Michener is misguided. I demonstrate that Michener does not understand basic microeconomic theory; that Michener does not understand rational expectations or how to make it operational; that Michener does not understand my GENDER, RACE AND ETHNICITY, AND INEQUALITY RESEARCH IN THE The topics of gender, race and ethnicity, and inequality are important economic and social issues. In this paper, we analyze how often those topics are addressed in two outlets of the American Economic Association: peer-reviewed papers in the American Economic Review and the conference papers from the AEA ’s annual meeting that are published in its Papers and Proceedings. ADAM SMITH'S IMPARTIAL SPECTATOR · ECON JOURNAL WATCH In Smith’s naturalistic account of morals, the impartial spectator might be seen as problematic: If this spectator were interpreted as an ideal observer, an omniscient judge, or as the representative of God speaking to us through our conscience, it would be inconsistent with Smith’s naturalistic ambitions. REPUBLICANS NEED NOT APPLY: AN INVESTIGATION OF THE industry, and 8.7:1 for students.9 For federal political contributors, the ratios are 17.8:1 for academics, 7.3:1 for government workers, 7.1:1 for economists who work in industry, and 20:0 for students. INTRODUCTION TO “THE SOCIAL THEORIES OF CLASSICAL Introduction to “The Social Theories of Classical Political Economy and Modern Economic Policy” Erwin Dekker1 and Stefan Kolev2 In 1890, the centenary of Adam Smith’s death was used by Carl Menger SKEPTICISM ABOUT MINSKY'S FINANCIAL INSTABILITY HYPOTHESIS Skepticism About Minsky’s Financial Instability Hypothesis: A Comment on Flanders Lawrence H. White1 LINK TO ABSTRACT Hyman Minsky was an important heterodox monetary economist. RENT CONTROL: DO ECONOMISTS AGREE? Rent contRol: do economists agRee? 77 Volume 6, numbeR 1, Jan 2009. ation controls. (Arnott 1995, 118) he case against second-generation rent controls is so weak that THE WAR ON CASH: A REVIEW OF KENNETH ROGOFF’S THE CURSE OF The War on Cash: A Review of Kenneth Rogoff’s The Curse of Cash Jeffrey Rogers Hummel1 LINK TO ABSTRACT FACULTY VOTER REGISTRATION IN ECONOMICS, HISTORY have data for.5 Figure 1 lists the 40 universities, listed in order of the D:R ratio for the faculty in the five fields investigated (Economics, History, Law, Journalism/ Communications, and Psychology). For example, in ninth place is Columbia Uni- GENDER, RACE AND ETHNICITY, AND INEQUALITY RESEARCH IN THE The topics of gender, race and ethnicity, and inequality are important economic and social issues. In this paper, we analyze how often those topics are addressed in two outlets of the American Economic Association: peer-reviewed papers in the American Economic Review and the conference papers from the AEA ’s annual meeting that are published in its Papers and Proceedings. AGAINST STANDARD DEVIATION AS A QUALITY CONTROL MAXIM IN Anthropometry is the study of the measurements and proportions of the human body. In the field, many practitioners have adopted a questionable quality control maxim. A RESPONSE TO "CRITIQUE OF AN ARTICLE ON MACHINE LEARNING Stephen Walker (2021) raises two empirical issues about our article in the Journal of Accounting Research (Bao, Ke, Li, Yu, and Zhang 2020). The first one is about our treatment of missing values for the raw financial statement variables. CLASSICAL LIBERALISM IN ITALIAN ECONOMIC THOUGHT, FROM THE Although classical liberalism has not had a profound impact on political institutions in Italy since its unification in the 1860s, the country had a vibrant classical LIBERALISM IN BRAZIL · ECON JOURNAL WATCH : SOUTH AMERICA Brazil is known for governmental intervention in its economy and a weak rule of law. Such characteristics tend to obscure a significant liberal tradition, which influenced the course of Brazilian events many times. Brazil’s liberal tradition existed before Brazilian independence in 1822. This article provides an historical account ofthe
THE FALSE PROMISE OF THE RIGHT TO EXCLUDE · ECON JOURNAL This essay explores an emerging issue in the criticism of the “bundle” conception of property: whether embracing the right to exclude as the core of property is sufficiently determinate to avoid the same disintegrating effects as the bundle conception. SCHOLASTICISM VERSUS PIETISM: THE BATTLE FOR THE SOUL OF Robert H. Nelson is a professor at the School of Public Policy of the University of Maryland. He is the author of six books, including Zonin IS THE UNITED STATES AN OUTLIER IN PUBLIC MASS SHOOTINGS In 2016 Adam Lankford published a widely propagated article purporting to show that during a 47-year period the United States represented 31 percent of worldwide public mass shooters, and claiming that the outsized U.S. percentage is a result of gun prevalence. ADAM SMITH’S IMPARTIAL SPECTATOR Adam Smith’s Impartial Spectator Paul D. Mueller1 LINK TO ABSTRACT The impartial spectator is a crucial part of Adam Smith’s Theory of Moral Sentiments.Smith talks MY UNDERSTANDING OF ADAM SMITH’S IMPARTIAL SPECTATOR eveninimaginingchildbirth,itis“impossible”thataman“shouldconceivehimself as suffering her pains in his own proper person and character.” Smith casts doubt on ECON JOURNAL WATCH: SCHOLARLY COMMENTS ON ACADEMIC ECONOMICSARTICLES ARCHIVEABOUT ABOUT & CONTACTSUBMISSIONS CALL FOR PAPERSNEWS NEWS &PRESS
Econ Journal Watch (EJW) is an online academic journal publishing Comments on economics research, articles appearing in economics journals, and the ec COLONIAL NEW JERSEY'S PAPER MONEY: A REPLY TO MICHENERAUTHOR: FARLEYGRUBB
In the September 2020 issue of Econ Journal Watch, Ronald Michener published his seventh critical comment on my research.As in my past replies, I demonstrate that Michener is misguided. I demonstrate that Michener does not understand basic microeconomic theory; that Michener does not understand rational expectations or how to make it operational; that Michener does not understand my LIBERALISM IN BRAZIL · ECON JOURNAL WATCH : SOUTH AMERICA Brazil is known for governmental intervention in its economy and a weak rule of law. Such characteristics tend to obscure a significant liberal tradition, which influenced the course of Brazilian events many times. Brazil’s liberal tradition existed before Brazilian independence in 1822. This article provides an historical account ofthe
ECONOMIC LIBERALISM IN PERU · ECON JOURNAL WATCH : JOSE Economic liberalism has not developed as a strong or widespread line of thought in Peru. Yet over the long run, Peru has moved towards greater economic freedom. THE EDUCATIONAL BENEFITS OF OBSCURITY: PEDAGOGICAL This article is a republication, by permission, of a chapter of Arthur M. Melzer’s book Philosophy Between the Lines: The Lost History of Esoteric Writing (University of Chicago Press, 2014). The book explains four purposes or motives to esotericism: defense, protective, pedagogical, and political. REPUBLICANS NEED NOT APPLY: AN INVESTIGATION OF THE industry, and 8.7:1 for students.9 For federal political contributors, the ratios are 17.8:1 for academics, 7.3:1 for government workers, 7.1:1 for economists who work in industry, and 20:0 for students. INTRODUCTION TO “THE SOCIAL THEORIES OF CLASSICAL Introduction to “The Social Theories of Classical Political Economy and Modern Economic Policy” Erwin Dekker1 and Stefan Kolev2 In 1890, the centenary of Adam Smith’s death was used by Carl Menger SKEPTICISM ABOUT MINSKY'S FINANCIAL INSTABILITY HYPOTHESIS Skepticism About Minsky’s Financial Instability Hypothesis: A Comment on Flanders Lawrence H. White1 LINK TO ABSTRACT Hyman Minsky was an important heterodox monetary economist. REPLICATIONS IN ECONOMICS: A PROGRESS REPORT Replications in Economics: A Progress Report Maren Duvendack1,Richard W. Palmer-Jones2, andW. Robert Reed3 LINK TO ABSTRACT Inproducinganeconometricstudy MY UNDERSTANDING OF ADAM SMITH’S IMPARTIAL SPECTATOR eveninimaginingchildbirth,itis“impossible”thataman“shouldconceivehimself as suffering her pains in his own proper person and character.” Smith casts doubt on ECON JOURNAL WATCH: SCHOLARLY COMMENTS ON ACADEMIC ECONOMICSARTICLES ARCHIVEABOUT ABOUT & CONTACTSUBMISSIONS CALL FOR PAPERSNEWS NEWS &PRESS
Econ Journal Watch (EJW) is an online academic journal publishing Comments on economics research, articles appearing in economics journals, and the ec COLONIAL NEW JERSEY'S PAPER MONEY: A REPLY TO MICHENERAUTHOR: FARLEYGRUBB
In the September 2020 issue of Econ Journal Watch, Ronald Michener published his seventh critical comment on my research.As in my past replies, I demonstrate that Michener is misguided. I demonstrate that Michener does not understand basic microeconomic theory; that Michener does not understand rational expectations or how to make it operational; that Michener does not understand my LIBERALISM IN BRAZIL · ECON JOURNAL WATCH : SOUTH AMERICA Brazil is known for governmental intervention in its economy and a weak rule of law. Such characteristics tend to obscure a significant liberal tradition, which influenced the course of Brazilian events many times. Brazil’s liberal tradition existed before Brazilian independence in 1822. This article provides an historical account ofthe
ECONOMIC LIBERALISM IN PERU · ECON JOURNAL WATCH : JOSE Economic liberalism has not developed as a strong or widespread line of thought in Peru. Yet over the long run, Peru has moved towards greater economic freedom. THE EDUCATIONAL BENEFITS OF OBSCURITY: PEDAGOGICAL This article is a republication, by permission, of a chapter of Arthur M. Melzer’s book Philosophy Between the Lines: The Lost History of Esoteric Writing (University of Chicago Press, 2014). The book explains four purposes or motives to esotericism: defense, protective, pedagogical, and political. REPUBLICANS NEED NOT APPLY: AN INVESTIGATION OF THE industry, and 8.7:1 for students.9 For federal political contributors, the ratios are 17.8:1 for academics, 7.3:1 for government workers, 7.1:1 for economists who work in industry, and 20:0 for students. INTRODUCTION TO “THE SOCIAL THEORIES OF CLASSICAL Introduction to “The Social Theories of Classical Political Economy and Modern Economic Policy” Erwin Dekker1 and Stefan Kolev2 In 1890, the centenary of Adam Smith’s death was used by Carl Menger SKEPTICISM ABOUT MINSKY'S FINANCIAL INSTABILITY HYPOTHESIS Skepticism About Minsky’s Financial Instability Hypothesis: A Comment on Flanders Lawrence H. White1 LINK TO ABSTRACT Hyman Minsky was an important heterodox monetary economist. REPLICATIONS IN ECONOMICS: A PROGRESS REPORT Replications in Economics: A Progress Report Maren Duvendack1,Richard W. Palmer-Jones2, andW. Robert Reed3 LINK TO ABSTRACT Inproducinganeconometricstudy MY UNDERSTANDING OF ADAM SMITH’S IMPARTIAL SPECTATOR eveninimaginingchildbirth,itis“impossible”thataman“shouldconceivehimself as suffering her pains in his own proper person and character.” Smith casts doubt on THE SOCIAL THEORIES OF CLASSICAL POLITICAL ECONOMY AND This is the first-ever English translation of an 1891 essay by Carl Menger published in the most important newspaper of the Habsburg Empire, the Neue Freie Presse.Menger writes the piece as a defense of classical political economy in general and of Adam Smith in particular, focusing on misinterpretations of Smith’s work by the Younger Historical School in Germany. GENDER, RACE AND ETHNICITY, AND INEQUALITY RESEARCH IN THE The topics of gender, race and ethnicity, and inequality are important economic and social issues. In this paper, we analyze how often those topics are addressed in two outlets of the American Economic Association: peer-reviewed papers in the American Economic Review and the conference papers from the AEA ’s annual meeting that are published in its Papers and Proceedings. LIBERALISM IN BRAZIL · ECON JOURNAL WATCH : SOUTH AMERICA Brazil is known for governmental intervention in its economy and a weak rule of law. Such characteristics tend to obscure a significant liberal tradition, which influenced the course of Brazilian events many times. Brazil’s liberal tradition existed before Brazilian independence in 1822. This article provides an historical account ofthe
ECONOMIC LIBERALISM IN PERU · ECON JOURNAL WATCH : JOSE Economic liberalism has not developed as a strong or widespread line of thought in Peru. Yet over the long run, Peru has moved towards greater economic freedom. WHAT 21ST-CENTURY WORKS WILL MERIT A CLOSE READING IN 2050 What 21st-Century Works Will Merit a Close Reading in 2050?: First Tranche ofResponses Econ Journal Watch LINK TO ABSTRACT prologue by Daniel B. Klein “To a generous Mind nothing is so agreeable as to commend the Works of THE FALSE PROMISE OF THE RIGHT TO EXCLUDE · ECON JOURNAL This essay explores an emerging issue in the criticism of the “bundle” conception of property: whether embracing the right to exclude as the core of property is sufficiently determinate to avoid the same disintegrating effects as the bundle conception. THE MAX U APPROACH: PRUDENCE ONLY, OR NOT EVEN PRUDENCE? A In many works Deirdre McCloskey criticizes professional economics for too readily representing man as a maximizing agent—Mr. Maximum Utility, or Max U. McCloskey says that economic activities are not the machinations of robots or mathematical functions, but rather affairsamong human beings.
CLASSICAL LIBERALISM IN ITALIAN ECONOMIC THOUGHT, FROM THE Although classical liberalism has not had a profound impact on political institutions in Italy since its unification in the 1860s, the country had a vibrant classical ARE GRAPHIC WARNING LABELS STOPPING MILLIONS OF SMOKERS? A Graphic warning labels are gruesome images on cigarette packages depicting diseased body parts, suffering, and death. An increasing number of countries have mandated them. ADAM SMITH’S IMPARTIAL SPECTATOR Adam Smith’s Impartial Spectator Paul D. Mueller1 LINK TO ABSTRACT The impartial spectator is a crucial part of Adam Smith’s Theory of Moral Sentiments.Smith talks ECON JOURNAL WATCH: SCHOLARLY COMMENTS ON ACADEMIC ECONOMICSARTICLES ARCHIVEABOUT ABOUT & CONTACTSUBMISSIONS CALL FOR PAPERSNEWS NEWS &PRESS
Econ Journal Watch (EJW) is an online academic journal publishing Comments on economics research, articles appearing in economics journals, and the ec COLONIAL NEW JERSEY'S PAPER MONEY: A REPLY TO MICHENERAUTHOR: FARLEYGRUBB
In the September 2020 issue of Econ Journal Watch, Ronald Michener published his seventh critical comment on my research.As in my past replies, I demonstrate that Michener is misguided. I demonstrate that Michener does not understand basic microeconomic theory; that Michener does not understand rational expectations or how to make it operational; that Michener does not understand my LIBERALISM IN BRAZIL · ECON JOURNAL WATCH : SOUTH AMERICA Brazil is known for governmental intervention in its economy and a weak rule of law. Such characteristics tend to obscure a significant liberal tradition, which influenced the course of Brazilian events many times. Brazil’s liberal tradition existed before Brazilian independence in 1822. This article provides an historical account ofthe
ECONOMIC LIBERALISM IN PERU · ECON JOURNAL WATCH : JOSE Economic liberalism has not developed as a strong or widespread line of thought in Peru. Yet over the long run, Peru has moved towards greater economic freedom. THE EDUCATIONAL BENEFITS OF OBSCURITY: PEDAGOGICAL This article is a republication, by permission, of a chapter of Arthur M. Melzer’s book Philosophy Between the Lines: The Lost History of Esoteric Writing (University of Chicago Press, 2014). The book explains four purposes or motives to esotericism: defense, protective, pedagogical, and political. REPUBLICANS NEED NOT APPLY: AN INVESTIGATION OF THE industry, and 8.7:1 for students.9 For federal political contributors, the ratios are 17.8:1 for academics, 7.3:1 for government workers, 7.1:1 for economists who work in industry, and 20:0 for students. INTRODUCTION TO “THE SOCIAL THEORIES OF CLASSICAL Introduction to “The Social Theories of Classical Political Economy and Modern Economic Policy” Erwin Dekker1 and Stefan Kolev2 In 1890, the centenary of Adam Smith’s death was used by Carl Menger SKEPTICISM ABOUT MINSKY'S FINANCIAL INSTABILITY HYPOTHESIS Skepticism About Minsky’s Financial Instability Hypothesis: A Comment on Flanders Lawrence H. White1 LINK TO ABSTRACT Hyman Minsky was an important heterodox monetary economist. REPLICATIONS IN ECONOMICS: A PROGRESS REPORT Replications in Economics: A Progress Report Maren Duvendack1,Richard W. Palmer-Jones2, andW. Robert Reed3 LINK TO ABSTRACT Inproducinganeconometricstudy MY UNDERSTANDING OF ADAM SMITH’S IMPARTIAL SPECTATOR My Understanding of Adam Smith’s Impartial Spectator Jack Russell Weinstein1 LINK TO ABSTRACT The impartial spectator may be both the least misunderstood and the most ECON JOURNAL WATCH: SCHOLARLY COMMENTS ON ACADEMIC ECONOMICSARTICLES ARCHIVEABOUT ABOUT & CONTACTSUBMISSIONS CALL FOR PAPERSNEWS NEWS &PRESS
Econ Journal Watch (EJW) is an online academic journal publishing Comments on economics research, articles appearing in economics journals, and the ec COLONIAL NEW JERSEY'S PAPER MONEY: A REPLY TO MICHENERAUTHOR: FARLEYGRUBB
In the September 2020 issue of Econ Journal Watch, Ronald Michener published his seventh critical comment on my research.As in my past replies, I demonstrate that Michener is misguided. I demonstrate that Michener does not understand basic microeconomic theory; that Michener does not understand rational expectations or how to make it operational; that Michener does not understand my LIBERALISM IN BRAZIL · ECON JOURNAL WATCH : SOUTH AMERICA Brazil is known for governmental intervention in its economy and a weak rule of law. Such characteristics tend to obscure a significant liberal tradition, which influenced the course of Brazilian events many times. Brazil’s liberal tradition existed before Brazilian independence in 1822. This article provides an historical account ofthe
ECONOMIC LIBERALISM IN PERU · ECON JOURNAL WATCH : JOSE Economic liberalism has not developed as a strong or widespread line of thought in Peru. Yet over the long run, Peru has moved towards greater economic freedom. THE EDUCATIONAL BENEFITS OF OBSCURITY: PEDAGOGICAL This article is a republication, by permission, of a chapter of Arthur M. Melzer’s book Philosophy Between the Lines: The Lost History of Esoteric Writing (University of Chicago Press, 2014). The book explains four purposes or motives to esotericism: defense, protective, pedagogical, and political. REPUBLICANS NEED NOT APPLY: AN INVESTIGATION OF THE industry, and 8.7:1 for students.9 For federal political contributors, the ratios are 17.8:1 for academics, 7.3:1 for government workers, 7.1:1 for economists who work in industry, and 20:0 for students. INTRODUCTION TO “THE SOCIAL THEORIES OF CLASSICAL Introduction to “The Social Theories of Classical Political Economy and Modern Economic Policy” Erwin Dekker1 and Stefan Kolev2 In 1890, the centenary of Adam Smith’s death was used by Carl Menger SKEPTICISM ABOUT MINSKY'S FINANCIAL INSTABILITY HYPOTHESIS Skepticism About Minsky’s Financial Instability Hypothesis: A Comment on Flanders Lawrence H. White1 LINK TO ABSTRACT Hyman Minsky was an important heterodox monetary economist. REPLICATIONS IN ECONOMICS: A PROGRESS REPORT Replications in Economics: A Progress Report Maren Duvendack1,Richard W. Palmer-Jones2, andW. Robert Reed3 LINK TO ABSTRACT Inproducinganeconometricstudy MY UNDERSTANDING OF ADAM SMITH’S IMPARTIAL SPECTATOR My Understanding of Adam Smith’s Impartial Spectator Jack Russell Weinstein1 LINK TO ABSTRACT The impartial spectator may be both the least misunderstood and the most THE SOCIAL THEORIES OF CLASSICAL POLITICAL ECONOMY AND This is the first-ever English translation of an 1891 essay by Carl Menger published in the most important newspaper of the Habsburg Empire, the Neue Freie Presse.Menger writes the piece as a defense of classical political economy in general and of Adam Smith in particular, focusing on misinterpretations of Smith’s work by the Younger Historical School in Germany. GENDER, RACE AND ETHNICITY, AND INEQUALITY RESEARCH IN THE The topics of gender, race and ethnicity, and inequality are important economic and social issues. In this paper, we analyze how often those topics are addressed in two outlets of the American Economic Association: peer-reviewed papers in the American Economic Review and the conference papers from the AEA ’s annual meeting that are published in its Papers and Proceedings. LIBERALISM IN BRAZIL · ECON JOURNAL WATCH : SOUTH AMERICA Brazil is known for governmental intervention in its economy and a weak rule of law. Such characteristics tend to obscure a significant liberal tradition, which influenced the course of Brazilian events many times. Brazil’s liberal tradition existed before Brazilian independence in 1822. This article provides an historical account ofthe
ECONOMIC LIBERALISM IN PERU · ECON JOURNAL WATCH : JOSE Economic liberalism has not developed as a strong or widespread line of thought in Peru. Yet over the long run, Peru has moved towards greater economic freedom. THE MAX U APPROACH: PRUDENCE ONLY, OR NOT EVEN PRUDENCE? A In many works Deirdre McCloskey criticizes professional economics for too readily representing man as a maximizing agent—Mr. Maximum Utility, or Max U. McCloskey says that economic activities are not the machinations of robots or mathematical functions, but rather affairsamong human beings.
THE FALSE PROMISE OF THE RIGHT TO EXCLUDE · ECON JOURNAL This essay explores an emerging issue in the criticism of the “bundle” conception of property: whether embracing the right to exclude as the core of property is sufficiently determinate to avoid the same disintegrating effects as the bundle conception. PROPERTY: A BUNDLE OF RIGHTS? PROLOGUE TO THE PROPERTY This piece is the Prologue to an Econ Journal Watch symposium entitled, Property: A Bundle of Rights? This Prologue was written to prompt the invited scholars to expound their own criticisms of the bundle-of-rights view, or, as the case may be, to address criticismsout there.
CLASSICAL LIBERALISM IN ITALIAN ECONOMIC THOUGHT, FROM THE Although classical liberalism has not had a profound impact on political institutions in Italy since its unification in the 1860s, the country had a vibrant classical ARE GRAPHIC WARNING LABELS STOPPING MILLIONS OF SMOKERS? A Graphic warning labels are gruesome images on cigarette packages depicting diseased body parts, suffering, and death. An increasing number of countries have mandated them. ADAM SMITH’S IMPARTIAL SPECTATOR Adam Smith’s Impartial Spectator Paul D. Mueller1 LINK TO ABSTRACT The impartial spectator is a crucial part of Adam Smith’s Theory of Moral Sentiments.Smith talks ECON JOURNAL WATCH: SCHOLARLY COMMENTS ON ACADEMIC ECONOMICSARTICLES ARCHIVEABOUT ABOUT & CONTACTSUBMISSIONS CALL FOR PAPERSNEWS NEWS &PRESS
Econ Journal Watch (EJW) is an online academic journal publishing Comments on economics research, articles appearing in economics journals, and the ec COLONIAL NEW JERSEY'S PAPER MONEY: A REPLY TO MICHENERAUTHOR: FARLEYGRUBB
In the September 2020 issue of Econ Journal Watch, Ronald Michener published his seventh critical comment on my research.As in my past replies, I demonstrate that Michener is misguided. I demonstrate that Michener does not understand basic microeconomic theory; that Michener does not understand rational expectations or how to make it operational; that Michener does not understand my LIBERALISM IN BRAZIL · ECON JOURNAL WATCH : SOUTH AMERICA Brazil is known for governmental intervention in its economy and a weak rule of law. Such characteristics tend to obscure a significant liberal tradition, which influenced the course of Brazilian events many times. Brazil’s liberal tradition existed before Brazilian independence in 1822. This article provides an historical account ofthe
ECONOMIC LIBERALISM IN PERU · ECON JOURNAL WATCH : JOSE Economic liberalism has not developed as a strong or widespread line of thought in Peru. Yet over the long run, Peru has moved towards greater economic freedom. THE EDUCATIONAL BENEFITS OF OBSCURITY: PEDAGOGICAL This article is a republication, by permission, of a chapter of Arthur M. Melzer’s book Philosophy Between the Lines: The Lost History of Esoteric Writing (University of Chicago Press, 2014). The book explains four purposes or motives to esotericism: defense, protective, pedagogical, and political. REPUBLICANS NEED NOT APPLY: AN INVESTIGATION OF THE industry, and 8.7:1 for students.9 For federal political contributors, the ratios are 17.8:1 for academics, 7.3:1 for government workers, 7.1:1 for economists who work in industry, and 20:0 for students. INTRODUCTION TO “THE SOCIAL THEORIES OF CLASSICAL Introduction to “The Social Theories of Classical Political Economy and Modern Economic Policy” Erwin Dekker1 and Stefan Kolev2 In 1890, the centenary of Adam Smith’s death was used by Carl Menger SKEPTICISM ABOUT MINSKY'S FINANCIAL INSTABILITY HYPOTHESIS Skepticism About Minsky’s Financial Instability Hypothesis: A Comment on Flanders Lawrence H. White1 LINK TO ABSTRACT Hyman Minsky was an important heterodox monetary economist. REPLICATIONS IN ECONOMICS: A PROGRESS REPORT Replications in Economics: A Progress Report Maren Duvendack1,Richard W. Palmer-Jones2, andW. Robert Reed3 LINK TO ABSTRACT Inproducinganeconometricstudy MY UNDERSTANDING OF ADAM SMITH’S IMPARTIAL SPECTATOR My Understanding of Adam Smith’s Impartial Spectator Jack Russell Weinstein1 LINK TO ABSTRACT The impartial spectator may be both the least misunderstood and the most ECON JOURNAL WATCH: SCHOLARLY COMMENTS ON ACADEMIC ECONOMICSARTICLES ARCHIVEABOUT ABOUT & CONTACTSUBMISSIONS CALL FOR PAPERSNEWS NEWS &PRESS
Econ Journal Watch (EJW) is an online academic journal publishing Comments on economics research, articles appearing in economics journals, and the ec COLONIAL NEW JERSEY'S PAPER MONEY: A REPLY TO MICHENERAUTHOR: FARLEYGRUBB
In the September 2020 issue of Econ Journal Watch, Ronald Michener published his seventh critical comment on my research.As in my past replies, I demonstrate that Michener is misguided. I demonstrate that Michener does not understand basic microeconomic theory; that Michener does not understand rational expectations or how to make it operational; that Michener does not understand my LIBERALISM IN BRAZIL · ECON JOURNAL WATCH : SOUTH AMERICA Brazil is known for governmental intervention in its economy and a weak rule of law. Such characteristics tend to obscure a significant liberal tradition, which influenced the course of Brazilian events many times. Brazil’s liberal tradition existed before Brazilian independence in 1822. This article provides an historical account ofthe
ECONOMIC LIBERALISM IN PERU · ECON JOURNAL WATCH : JOSE Economic liberalism has not developed as a strong or widespread line of thought in Peru. Yet over the long run, Peru has moved towards greater economic freedom. THE EDUCATIONAL BENEFITS OF OBSCURITY: PEDAGOGICAL This article is a republication, by permission, of a chapter of Arthur M. Melzer’s book Philosophy Between the Lines: The Lost History of Esoteric Writing (University of Chicago Press, 2014). The book explains four purposes or motives to esotericism: defense, protective, pedagogical, and political. REPUBLICANS NEED NOT APPLY: AN INVESTIGATION OF THE industry, and 8.7:1 for students.9 For federal political contributors, the ratios are 17.8:1 for academics, 7.3:1 for government workers, 7.1:1 for economists who work in industry, and 20:0 for students. INTRODUCTION TO “THE SOCIAL THEORIES OF CLASSICAL Introduction to “The Social Theories of Classical Political Economy and Modern Economic Policy” Erwin Dekker1 and Stefan Kolev2 In 1890, the centenary of Adam Smith’s death was used by Carl Menger SKEPTICISM ABOUT MINSKY'S FINANCIAL INSTABILITY HYPOTHESIS Skepticism About Minsky’s Financial Instability Hypothesis: A Comment on Flanders Lawrence H. White1 LINK TO ABSTRACT Hyman Minsky was an important heterodox monetary economist. REPLICATIONS IN ECONOMICS: A PROGRESS REPORT Replications in Economics: A Progress Report Maren Duvendack1,Richard W. Palmer-Jones2, andW. Robert Reed3 LINK TO ABSTRACT Inproducinganeconometricstudy MY UNDERSTANDING OF ADAM SMITH’S IMPARTIAL SPECTATOR My Understanding of Adam Smith’s Impartial Spectator Jack Russell Weinstein1 LINK TO ABSTRACT The impartial spectator may be both the least misunderstood and the most THE SOCIAL THEORIES OF CLASSICAL POLITICAL ECONOMY AND This is the first-ever English translation of an 1891 essay by Carl Menger published in the most important newspaper of the Habsburg Empire, the Neue Freie Presse.Menger writes the piece as a defense of classical political economy in general and of Adam Smith in particular, focusing on misinterpretations of Smith’s work by the Younger Historical School in Germany. GENDER, RACE AND ETHNICITY, AND INEQUALITY RESEARCH IN THE The topics of gender, race and ethnicity, and inequality are important economic and social issues. In this paper, we analyze how often those topics are addressed in two outlets of the American Economic Association: peer-reviewed papers in the American Economic Review and the conference papers from the AEA ’s annual meeting that are published in its Papers and Proceedings. LIBERALISM IN BRAZIL · ECON JOURNAL WATCH : SOUTH AMERICA Brazil is known for governmental intervention in its economy and a weak rule of law. Such characteristics tend to obscure a significant liberal tradition, which influenced the course of Brazilian events many times. Brazil’s liberal tradition existed before Brazilian independence in 1822. This article provides an historical account ofthe
ECONOMIC LIBERALISM IN PERU · ECON JOURNAL WATCH : JOSE Economic liberalism has not developed as a strong or widespread line of thought in Peru. Yet over the long run, Peru has moved towards greater economic freedom. THE MAX U APPROACH: PRUDENCE ONLY, OR NOT EVEN PRUDENCE? A In many works Deirdre McCloskey criticizes professional economics for too readily representing man as a maximizing agent—Mr. Maximum Utility, or Max U. McCloskey says that economic activities are not the machinations of robots or mathematical functions, but rather affairsamong human beings.
THE FALSE PROMISE OF THE RIGHT TO EXCLUDE · ECON JOURNAL This essay explores an emerging issue in the criticism of the “bundle” conception of property: whether embracing the right to exclude as the core of property is sufficiently determinate to avoid the same disintegrating effects as the bundle conception. PROPERTY: A BUNDLE OF RIGHTS? PROLOGUE TO THE PROPERTY This piece is the Prologue to an Econ Journal Watch symposium entitled, Property: A Bundle of Rights? This Prologue was written to prompt the invited scholars to expound their own criticisms of the bundle-of-rights view, or, as the case may be, to address criticismsout there.
CLASSICAL LIBERALISM IN ITALIAN ECONOMIC THOUGHT, FROM THE Although classical liberalism has not had a profound impact on political institutions in Italy since its unification in the 1860s, the country had a vibrant classical ARE GRAPHIC WARNING LABELS STOPPING MILLIONS OF SMOKERS? A Graphic warning labels are gruesome images on cigarette packages depicting diseased body parts, suffering, and death. An increasing number of countries have mandated them. ADAM SMITH’S IMPARTIAL SPECTATOR Adam Smith’s Impartial Spectator Paul D. Mueller1 LINK TO ABSTRACT The impartial spectator is a crucial part of Adam Smith’s Theory of Moral Sentiments.Smith talks ECON JOURNAL WATCH: SCHOLARLY COMMENTS ON ACADEMIC ECONOMICSARTICLES ARCHIVEABOUT ABOUT & CONTACTSUBMISSIONS CALL FOR PAPERSNEWS NEWS &PRESS
Econ Journal Watch (EJW) is an online academic journal publishing Comments on economics research, articles appearing in economics journals, and the ec COLONIAL NEW JERSEY'S PAPER MONEY: A REPLY TO MICHENERAUTHOR: FARLEYGRUBB
In the September 2020 issue of Econ Journal Watch, Ronald Michener published his seventh critical comment on my research.As in my past replies, I demonstrate that Michener is misguided. I demonstrate that Michener does not understand basic microeconomic theory; that Michener does not understand rational expectations or how to make it operational; that Michener does not understand my ADAM SMITH'S IMPARTIAL SPECTATOR · ECON JOURNAL WATCH In Smith’s naturalistic account of morals, the impartial spectator might be seen as problematic: If this spectator were interpreted as an ideal observer, an omniscient judge, or as the representative of God speaking to us through our conscience, it would be inconsistent with Smith’s naturalistic ambitions. INTRODUCTION TO “THE SOCIAL THEORIES OF CLASSICAL Introduction to “The Social Theories of Classical Political Economy and Modern Economic Policy” Erwin Dekker1 and Stefan Kolev2 In 1890, the centenary of Adam Smith’s death was used by Carl Menger REPUBLICANS NEED NOT APPLY: AN INVESTIGATION OF THE industry, and 8.7:1 for students.9 For federal political contributors, the ratios are 17.8:1 for academics, 7.3:1 for government workers, 7.1:1 for economists who work in industry, and 20:0 for students. REPLICATIONS IN ECONOMICS: A PROGRESS REPORT Replications in Economics: A Progress Report Maren Duvendack1,Richard W. Palmer-Jones2, andW. Robert Reed3 LINK TO ABSTRACT Inproducinganeconometricstudy THE REGULATIVE FUNCTION OF PROPERTY RIGHTS The Regulative Function of Property Rights Larissa Katz1 LINK TO ABSTRACT Historically, philosophers who thought at all about the significance of property rights generally agreed on the conceptual structure of property as a right RENT CONTROL: DO ECONOMISTS AGREE? Rent contRol: do economists agRee? 77 Volume 6, numbeR 1, Jan 2009. ation controls. (Arnott 1995, 118) he case against second-generation rent controls is so weak that MY MOST REGRETTED STATEMENTS References Cowen, Tyler. 2007.Paul Samuelson, Pessimist. Marginal Revolution (marginalrevolu- tion.com), November 19. Link Samuelson,PaulA.2007 SKEPTICISM ABOUT MINSKY'S FINANCIAL INSTABILITY HYPOTHESIS Skepticism About Minsky’s Financial Instability Hypothesis: A Comment on Flanders Lawrence H. White1 LINK TO ABSTRACT Hyman Minsky was an important heterodox monetary economist. ECON JOURNAL WATCH: SCHOLARLY COMMENTS ON ACADEMIC ECONOMICSARTICLES ARCHIVEABOUT ABOUT & CONTACTSUBMISSIONS CALL FOR PAPERSNEWS NEWS &PRESS
Econ Journal Watch (EJW) is an online academic journal publishing Comments on economics research, articles appearing in economics journals, and the ec COLONIAL NEW JERSEY'S PAPER MONEY: A REPLY TO MICHENERAUTHOR: FARLEYGRUBB
In the September 2020 issue of Econ Journal Watch, Ronald Michener published his seventh critical comment on my research.As in my past replies, I demonstrate that Michener is misguided. I demonstrate that Michener does not understand basic microeconomic theory; that Michener does not understand rational expectations or how to make it operational; that Michener does not understand my ADAM SMITH'S IMPARTIAL SPECTATOR · ECON JOURNAL WATCH In Smith’s naturalistic account of morals, the impartial spectator might be seen as problematic: If this spectator were interpreted as an ideal observer, an omniscient judge, or as the representative of God speaking to us through our conscience, it would be inconsistent with Smith’s naturalistic ambitions. INTRODUCTION TO “THE SOCIAL THEORIES OF CLASSICAL Introduction to “The Social Theories of Classical Political Economy and Modern Economic Policy” Erwin Dekker1 and Stefan Kolev2 In 1890, the centenary of Adam Smith’s death was used by Carl Menger REPUBLICANS NEED NOT APPLY: AN INVESTIGATION OF THE industry, and 8.7:1 for students.9 For federal political contributors, the ratios are 17.8:1 for academics, 7.3:1 for government workers, 7.1:1 for economists who work in industry, and 20:0 for students. REPLICATIONS IN ECONOMICS: A PROGRESS REPORT Replications in Economics: A Progress Report Maren Duvendack1,Richard W. Palmer-Jones2, andW. Robert Reed3 LINK TO ABSTRACT Inproducinganeconometricstudy THE REGULATIVE FUNCTION OF PROPERTY RIGHTS The Regulative Function of Property Rights Larissa Katz1 LINK TO ABSTRACT Historically, philosophers who thought at all about the significance of property rights generally agreed on the conceptual structure of property as a right RENT CONTROL: DO ECONOMISTS AGREE? Rent contRol: do economists agRee? 77 Volume 6, numbeR 1, Jan 2009. ation controls. (Arnott 1995, 118) he case against second-generation rent controls is so weak that MY MOST REGRETTED STATEMENTS References Cowen, Tyler. 2007.Paul Samuelson, Pessimist. Marginal Revolution (marginalrevolu- tion.com), November 19. Link Samuelson,PaulA.2007 SKEPTICISM ABOUT MINSKY'S FINANCIAL INSTABILITY HYPOTHESIS Skepticism About Minsky’s Financial Instability Hypothesis: A Comment on Flanders Lawrence H. White1 LINK TO ABSTRACT Hyman Minsky was an important heterodox monetary economist. GENDER, RACE AND ETHNICITY, AND INEQUALITY RESEARCH IN THE The topics of gender, race and ethnicity, and inequality are important economic and social issues. In this paper, we analyze how often those topics are addressed in two outlets of the American Economic Association: peer-reviewed papers in the American Economic Review and the conference papers from the AEA ’s annual meeting that are published in its Papers and Proceedings. CALL FOR PAPERS · ECON JOURNAL WATCH Call for Papers. Authors are invited to contact an editor with manuscripts or ideas for comments and papers. Submissions must be made electronically, either in Microsoft Word (.docx or .doc) or OpenDocument (.odt) format. The editors will actively edit for clarityand plain language.
AGAINST STANDARD DEVIATION AS A QUALITY CONTROL MAXIM IN Anthropometry is the study of the measurements and proportions of the human body. In the field, many practitioners have adopted a questionable quality control maxim.ECON JOURNAL WATCH
Econ Journal Watch Scholarly Comments on Academic Economics Volume 18, Issue 1, March 2021 IN MEMORIAM 1 IN MEMORIAM 2 COMMENTSImmigration’s
ADAM SMITH'S IMPARTIAL SPECTATOR · ECON JOURNAL WATCH In Smith’s naturalistic account of morals, the impartial spectator might be seen as problematic: If this spectator were interpreted as an ideal observer, an omniscient judge, or as the representative of God speaking to us through our conscience, it would be inconsistent with Smith’s naturalistic ambitions. THE MAX U APPROACH: PRUDENCE ONLY, OR NOT EVEN PRUDENCE? A In many works Deirdre McCloskey criticizes professional economics for too readily representing man as a maximizing agent—Mr. Maximum Utility, or Max U. McCloskey says that economic activities are not the machinations of robots or mathematical functions, but rather affairsamong human beings.
SCHOLASTICISM VERSUS PIETISM: THE BATTLE FOR THE SOUL OF Robert H. Nelson is a professor at the School of Public Policy of the University of Maryland. He is the author of six books, including Zonin THE LIBERAL TRADITION IN SOUTH AFRICA, 1910–2019 The Liberal Tradition in South Africa, 1910–2019 Martin van Staden1 LINK TO ABSTRACT There is nothing ‘neo’ about my liberalism. —Leon Louw Part I: Liberalism in South African history ADAM SMITH’S INVISIBLE HANDS Econ Journal Watch, Volume 1, Number 3, December 2004, pp 381-412. 381 . Adam Smith’s Invisible Hands . PETER MINOWITZ. A COMMENT ON: WILLIAM D. GRAMPP. 2000.WHAT DID ADAM SMITH MEAN BY THE INVISIBLEHAND?
ADAM SMITH’S IMPARTIAL SPECTATOR Adam Smith’s Impartial Spectator Paul D. Mueller1 LINK TO ABSTRACT The impartial spectator is a crucial part of Adam Smith’s Theory of Moral Sentiments.Smith talks ECON JOURNAL WATCH: SCHOLARLY COMMENTS ON ACADEMIC ECONOMICSARTICLES ARCHIVEABOUT ABOUT & CONTACTSUBMISSIONS CALL FOR PAPERSNEWS NEWS &PRESS
Econ Journal Watch (EJW) is an online academic journal publishing Comments on economics research, articles appearing in economics journals, and the ec COLONIAL NEW JERSEY'S PAPER MONEY: A REPLY TO MICHENERAUTHOR: FARLEYGRUBB
In the September 2020 issue of Econ Journal Watch, Ronald Michener published his seventh critical comment on my research.As in my past replies, I demonstrate that Michener is misguided. I demonstrate that Michener does not understand basic microeconomic theory; that Michener does not understand rational expectations or how to make it operational; that Michener does not understand my LIBERALISM IN BRAZIL · ECON JOURNAL WATCH : SOUTH AMERICA Brazil is known for governmental intervention in its economy and a weak rule of law. Such characteristics tend to obscure a significant liberal tradition, which influenced the course of Brazilian events many times. Brazil’s liberal tradition existed before Brazilian independence in 1822. This article provides an historical account ofthe
REPUBLICANS NEED NOT APPLY: AN INVESTIGATION OF THE industry, and 8.7:1 for students.9 For federal political contributors, the ratios are 17.8:1 for academics, 7.3:1 for government workers, 7.1:1 for economists who work in industry, and 20:0 for students. ECONOMIC LIBERALISM IN PERU · ECON JOURNAL WATCH : JOSE Economic liberalism has not developed as a strong or widespread line of thought in Peru. Yet over the long run, Peru has moved towards greater economic freedom. THE EDUCATIONAL BENEFITS OF OBSCURITY: PEDAGOGICAL This article is a republication, by permission, of a chapter of Arthur M. Melzer’s book Philosophy Between the Lines: The Lost History of Esoteric Writing (University of Chicago Press, 2014). The book explains four purposes or motives to esotericism: defense, protective, pedagogical, and political. RENT CONTROL: DO ECONOMISTS AGREE? Rent contRol: do economists agRee? 77 Volume 6, numbeR 1, Jan 2009. ation controls. (Arnott 1995, 118) he case against second-generation rent controls is so weak that REPLICATIONS IN ECONOMICS: A PROGRESS REPORT Replications in Economics: A Progress Report Maren Duvendack1,Richard W. Palmer-Jones2, andW. Robert Reed3 LINK TO ABSTRACT Inproducinganeconometricstudy SKEPTICISM ABOUT MINSKY'S FINANCIAL INSTABILITY HYPOTHESIS Skepticism About Minsky’s Financial Instability Hypothesis: A Comment on Flanders Lawrence H. White1 LINK TO ABSTRACT Hyman Minsky was an important heterodox monetary economist. MY UNDERSTANDING OF ADAM SMITH’S IMPARTIAL SPECTATOR My Understanding of Adam Smith’s Impartial Spectator Jack Russell Weinstein1 LINK TO ABSTRACT The impartial spectator may be both the least misunderstood and the most ECON JOURNAL WATCH: SCHOLARLY COMMENTS ON ACADEMIC ECONOMICSARTICLES ARCHIVEABOUT ABOUT & CONTACTSUBMISSIONS CALL FOR PAPERSNEWS NEWS &PRESS
Econ Journal Watch (EJW) is an online academic journal publishing Comments on economics research, articles appearing in economics journals, and the ec COLONIAL NEW JERSEY'S PAPER MONEY: A REPLY TO MICHENERAUTHOR: FARLEYGRUBB
In the September 2020 issue of Econ Journal Watch, Ronald Michener published his seventh critical comment on my research.As in my past replies, I demonstrate that Michener is misguided. I demonstrate that Michener does not understand basic microeconomic theory; that Michener does not understand rational expectations or how to make it operational; that Michener does not understand my LIBERALISM IN BRAZIL · ECON JOURNAL WATCH : SOUTH AMERICA Brazil is known for governmental intervention in its economy and a weak rule of law. Such characteristics tend to obscure a significant liberal tradition, which influenced the course of Brazilian events many times. Brazil’s liberal tradition existed before Brazilian independence in 1822. This article provides an historical account ofthe
REPUBLICANS NEED NOT APPLY: AN INVESTIGATION OF THE industry, and 8.7:1 for students.9 For federal political contributors, the ratios are 17.8:1 for academics, 7.3:1 for government workers, 7.1:1 for economists who work in industry, and 20:0 for students. ECONOMIC LIBERALISM IN PERU · ECON JOURNAL WATCH : JOSE Economic liberalism has not developed as a strong or widespread line of thought in Peru. Yet over the long run, Peru has moved towards greater economic freedom. THE EDUCATIONAL BENEFITS OF OBSCURITY: PEDAGOGICAL This article is a republication, by permission, of a chapter of Arthur M. Melzer’s book Philosophy Between the Lines: The Lost History of Esoteric Writing (University of Chicago Press, 2014). The book explains four purposes or motives to esotericism: defense, protective, pedagogical, and political. RENT CONTROL: DO ECONOMISTS AGREE? Rent contRol: do economists agRee? 77 Volume 6, numbeR 1, Jan 2009. ation controls. (Arnott 1995, 118) he case against second-generation rent controls is so weak that REPLICATIONS IN ECONOMICS: A PROGRESS REPORT Replications in Economics: A Progress Report Maren Duvendack1,Richard W. Palmer-Jones2, andW. Robert Reed3 LINK TO ABSTRACT Inproducinganeconometricstudy SKEPTICISM ABOUT MINSKY'S FINANCIAL INSTABILITY HYPOTHESIS Skepticism About Minsky’s Financial Instability Hypothesis: A Comment on Flanders Lawrence H. White1 LINK TO ABSTRACT Hyman Minsky was an important heterodox monetary economist. MY UNDERSTANDING OF ADAM SMITH’S IMPARTIAL SPECTATOR My Understanding of Adam Smith’s Impartial Spectator Jack Russell Weinstein1 LINK TO ABSTRACT The impartial spectator may be both the least misunderstood and the most THE SOCIAL THEORIES OF CLASSICAL POLITICAL ECONOMY AND This is the first-ever English translation of an 1891 essay by Carl Menger published in the most important newspaper of the Habsburg Empire, the Neue Freie Presse.Menger writes the piece as a defense of classical political economy in general and of Adam Smith in particular, focusing on misinterpretations of Smith’s work by the Younger Historical School in Germany. RENT CONTROL: DO ECONOMISTS AGREE? · ECON JOURNAL WATCH This paper organizes the judgments of economists regarding the impact of rent controls in the American context. The review is limited to journal articles listed by the American Economic Association’s electronic bibliography, EconLit, under the subject search “Rent Control,” and articles cited by those EconLit-listed articles. GENDER, RACE AND ETHNICITY, AND INEQUALITY RESEARCH IN THE The topics of gender, race and ethnicity, and inequality are important economic and social issues. In this paper, we analyze how often those topics are addressed in two outlets of the American Economic Association: peer-reviewed papers in the American Economic Review and the conference papers from the AEA ’s annual meeting that are published in its Papers and Proceedings. THE FALSE PROMISE OF THE RIGHT TO EXCLUDE · ECON JOURNAL This essay explores an emerging issue in the criticism of the “bundle” conception of property: whether embracing the right to exclude as the core of property is sufficiently determinate to avoid the same disintegrating effects as the bundle conception. WHAT 21ST-CENTURY WORKS WILL MERIT A CLOSE READING IN 2050 What 21st-Century Works Will Merit a Close Reading in 2050?: First Tranche ofResponses Econ Journal Watch LINK TO ABSTRACT prologue by Daniel B. Klein “To a generous Mind nothing is so agreeable as to commend the Works of PROPERTY: A BUNDLE OF RIGHTS? PROLOGUE TO THE PROPERTY This piece is the Prologue to an Econ Journal Watch symposium entitled, Property: A Bundle of Rights? This Prologue was written to prompt the invited scholars to expound their own criticisms of the bundle-of-rights view, or, as the case may be, to address criticismsout there.
THE MAX U APPROACH: PRUDENCE ONLY, OR NOT EVEN PRUDENCE? A In many works Deirdre McCloskey criticizes professional economics for too readily representing man as a maximizing agent—Mr. Maximum Utility, or Max U. McCloskey says that economic activities are not the machinations of robots or mathematical functions, but rather affairsamong human beings.
SCHOLASTICISM VERSUS PIETISM: THE BATTLE FOR THE SOUL OF Robert H. Nelson is a professor at the School of Public Policy of the University of Maryland. He is the author of six books, including Zonin CLASSICAL LIBERALISM IN ITALIAN ECONOMIC THOUGHT, FROM THE Although classical liberalism has not had a profound impact on political institutions in Italy since its unification in the 1860s, the country had a vibrant classical ADAM SMITH AND LIBERAL ECONOMICS: READING THE MINIMUM WAGE Adam Smith’s outlook still inspires and informs modern sensibilities and argumentation. It is of interest beyond Smith aficionados whether a particular line of modern thought “fits” Smith. ECON JOURNAL WATCH: SCHOLARLY COMMENTS ON ACADEMIC ECONOMICSARTICLES ARCHIVEABOUT ABOUT & CONTACTSUBMISSIONS CALL FOR PAPERSNEWS NEWS &PRESS
Econ Journal Watch (EJW) is an online academic journal publishing Comments on economics research, articles appearing in economics journals, and the ec COLONIAL NEW JERSEY'S PAPER MONEY: A REPLY TO MICHENERAUTHOR: FARLEYGRUBB
In the September 2020 issue of Econ Journal Watch, Ronald Michener published his seventh critical comment on my research.As in my past replies, I demonstrate that Michener is misguided. I demonstrate that Michener does not understand basic microeconomic theory; that Michener does not understand rational expectations or how to make it operational; that Michener does not understand my THE EDUCATIONAL BENEFITS OF OBSCURITY: PEDAGOGICAL This article is a republication, by permission, of a chapter of Arthur M. Melzer’s book Philosophy Between the Lines: The Lost History of Esoteric Writing (University of Chicago Press, 2014). The book explains four purposes or motives to esotericism: defense, protective, pedagogical, and political. ADAM SMITH'S IMPARTIAL SPECTATOR · ECON JOURNAL WATCH In Smith’s naturalistic account of morals, the impartial spectator might be seen as problematic: If this spectator were interpreted as an ideal observer, an omniscient judge, or as the representative of God speaking to us through our conscience, it would be inconsistent with Smith’s naturalistic ambitions. ADAM SMITH'S LIBRARY: GENERAL CHECK-LIST AND INDEX · ECON GENERAL CHECK-LIST AND INDEX Bonar Smith This Author Title Cat. Cat. Suppl. Academie Dictionnaire 49 franijaise Obse IS THE UNITED STATES AN OUTLIER IN PUBLIC MASS SHOOTINGS In 2016 Adam Lankford published a widely propagated article purporting to show that during a 47-year period the United States represented 31 percent of worldwide public mass shooters, and claiming that the outsized U.S. percentage is a result of gun prevalence. REPUBLICANS NEED NOT APPLY: AN INVESTIGATION OF THE industry, and 8.7:1 for students.9 For federal political contributors, the ratios are 17.8:1 for academics, 7.3:1 for government workers, 7.1:1 for economists who work in industry, and 20:0 for students. ARE GRAPHIC WARNING LABELS STOPPING Graphic warning labels are gruesome images on cigarette packages depicting diseased body parts, suffering, and death. An increasing number of countries have mandated them. RENT CONTROL: DO ECONOMISTS AGREE? Rent contRol: do economists agRee? 77 Volume 6, numbeR 1, Jan 2009. ation controls. (Arnott 1995, 118) he case against second-generation rent controls is so weak that REPLICATIONS IN ECONOMICS: A PROGRESS REPORT Replications in Economics: A Progress Report Maren Duvendack1,Richard W. Palmer-Jones2, andW. Robert Reed3 LINK TO ABSTRACT Inproducinganeconometricstudy ECON JOURNAL WATCH: SCHOLARLY COMMENTS ON ACADEMIC ECONOMICSARTICLES ARCHIVEABOUT ABOUT & CONTACTSUBMISSIONS CALL FOR PAPERSNEWS NEWS &PRESS
Econ Journal Watch (EJW) is an online academic journal publishing Comments on economics research, articles appearing in economics journals, and the ec COLONIAL NEW JERSEY'S PAPER MONEY: A REPLY TO MICHENERAUTHOR: FARLEYGRUBB
In the September 2020 issue of Econ Journal Watch, Ronald Michener published his seventh critical comment on my research.As in my past replies, I demonstrate that Michener is misguided. I demonstrate that Michener does not understand basic microeconomic theory; that Michener does not understand rational expectations or how to make it operational; that Michener does not understand my THE EDUCATIONAL BENEFITS OF OBSCURITY: PEDAGOGICAL This article is a republication, by permission, of a chapter of Arthur M. Melzer’s book Philosophy Between the Lines: The Lost History of Esoteric Writing (University of Chicago Press, 2014). The book explains four purposes or motives to esotericism: defense, protective, pedagogical, and political. ADAM SMITH'S IMPARTIAL SPECTATOR · ECON JOURNAL WATCH In Smith’s naturalistic account of morals, the impartial spectator might be seen as problematic: If this spectator were interpreted as an ideal observer, an omniscient judge, or as the representative of God speaking to us through our conscience, it would be inconsistent with Smith’s naturalistic ambitions. ADAM SMITH'S LIBRARY: GENERAL CHECK-LIST AND INDEX · ECON GENERAL CHECK-LIST AND INDEX Bonar Smith This Author Title Cat. Cat. Suppl. Academie Dictionnaire 49 franijaise Obse IS THE UNITED STATES AN OUTLIER IN PUBLIC MASS SHOOTINGS In 2016 Adam Lankford published a widely propagated article purporting to show that during a 47-year period the United States represented 31 percent of worldwide public mass shooters, and claiming that the outsized U.S. percentage is a result of gun prevalence. REPUBLICANS NEED NOT APPLY: AN INVESTIGATION OF THE industry, and 8.7:1 for students.9 For federal political contributors, the ratios are 17.8:1 for academics, 7.3:1 for government workers, 7.1:1 for economists who work in industry, and 20:0 for students. ARE GRAPHIC WARNING LABELS STOPPING Graphic warning labels are gruesome images on cigarette packages depicting diseased body parts, suffering, and death. An increasing number of countries have mandated them. RENT CONTROL: DO ECONOMISTS AGREE? Rent contRol: do economists agRee? 77 Volume 6, numbeR 1, Jan 2009. ation controls. (Arnott 1995, 118) he case against second-generation rent controls is so weak that REPLICATIONS IN ECONOMICS: A PROGRESS REPORT Replications in Economics: A Progress Report Maren Duvendack1,Richard W. Palmer-Jones2, andW. Robert Reed3 LINK TO ABSTRACT Inproducinganeconometricstudy FOLLOW EJW · ECON JOURNAL WATCH Follow EJW. Get Econ Journal Watch piped straight to your RSS or Atom feed reader, using any of our free site feeds: Complete EJW feed — The whole Econ Journal Watch site in one simple feed. (Includes all Articles, News, & EJW audio) EJW Article feed — Just articles featured in the journal. EJW News feed — Just EJW News bites andlinks.
EJW AUDIO · ECON JOURNAL WATCH EJW Audio The voice of Econ Journal Watch. The host of EJW Audio is Lawrence H. White, a co-editor of EJW and professor of economics at George Mason University.. In a typical EJW Audio podcast, Professor White and the author of a recent EJW article discuss that article and related issues.. Enrique Guerra-Pujol on Adam Smith’s Love Life.Posted 31 Mar 2021
CALL FOR PAPERS · ECON JOURNAL WATCH Call for Papers. Authors are invited to contact an editor with manuscripts or ideas for comments and papers. Submissions must be made electronically, either in Microsoft Word (.docx or .doc) or OpenDocument (.odt) format. The editors will actively edit for clarityand plain language.
ECON JOURNAL WATCH
Ideological Profiles of the Economics Laureates. These are ideological profiles of individuals who were awarded the Sveriges Riksbank Prize in Economic Sciences in Memory of ADAM SMITH'S LIBRARY: GENERAL CHECK-LIST AND INDEX · ECON GENERAL CHECK-LIST AND INDEX Bonar Smith This Author Title Cat. Cat. Suppl. Academie Dictionnaire 49 franijaise Obse THE SOCIAL THEORIES OF CLASSICAL POLITICAL ECONOMY AND This is the first-ever English translation of an 1891 essay by Carl Menger published in the most important newspaper of the Habsburg Empire, the Neue Freie Presse.Menger writes the piece as a defense of classical political economy in general and of Adam Smith in particular, focusing on misinterpretations of Smith’s work by the Younger Historical School in Germany. THE MEANING OF COMPETITION · ECON JOURNAL WATCH Reprinted here, with kind permission from University of Chicago Press, is the text deriving from a lecture given in 1946. Hayek discusses what, in plain language, the word competition means, and affirms that meaning. He teaches that the plain-language meaning is different than, even in important respects opposite from, the meaning conceived by the science-fiction model known as “perfect LIBERALISM IN BRAZIL · ECON JOURNAL WATCH : SOUTH AMERICA Brazil is known for governmental intervention in its economy and a weak rule of law. Such characteristics tend to obscure a significant liberal tradition, which influenced the course of Brazilian events many times. Brazil’s liberal tradition existed before Brazilian independence in 1822. This article provides an historical account ofthe
AGAINST STANDARD DEVIATION AS A QUALITY CONTROL MAXIM IN Anthropometry is the study of the measurements and proportions of the human body. In the field, many practitioners have adopted a questionable quality control maxim. CONFIRMATION THAT THE UNITED STATES HAS SIX TIMES ITS Adam Lankford is a professor of criminology and criminal justice at The University of Alabama. He is the author of two books and manypeer-r
ECON JOURNAL WATCH: SCHOLARLY COMMENTS ON ACADEMIC ECONOMICSARTICLES ARCHIVEABOUT ABOUT & CONTACTSUBMISSIONS CALL FOR PAPERSNEWS NEWS &PRESS
Econ Journal Watch (EJW) is an online academic journal publishing Comments on economics research, articles appearing in economics journals, and the ec COLONIAL NEW JERSEY'S PAPER MONEY: A REPLY TO MICHENERAUTHOR: FARLEYGRUBB
In the September 2020 issue of Econ Journal Watch, Ronald Michener published his seventh critical comment on my research.As in my past replies, I demonstrate that Michener is misguided. I demonstrate that Michener does not understand basic microeconomic theory; that Michener does not understand rational expectations or how to make it operational; that Michener does not understand my THE EDUCATIONAL BENEFITS OF OBSCURITY: PEDAGOGICAL This article is a republication, by permission, of a chapter of Arthur M. Melzer’s book Philosophy Between the Lines: The Lost History of Esoteric Writing (University of Chicago Press, 2014). The book explains four purposes or motives to esotericism: defense, protective, pedagogical, and political. ADAM SMITH'S IMPARTIAL SPECTATOR · ECON JOURNAL WATCH In Smith’s naturalistic account of morals, the impartial spectator might be seen as problematic: If this spectator were interpreted as an ideal observer, an omniscient judge, or as the representative of God speaking to us through our conscience, it would be inconsistent with Smith’s naturalistic ambitions. ADAM SMITH'S LIBRARY: GENERAL CHECK-LIST AND INDEX · ECON GENERAL CHECK-LIST AND INDEX Bonar Smith This Author Title Cat. Cat. Suppl. Academie Dictionnaire 49 franijaise Obse IS THE UNITED STATES AN OUTLIER IN PUBLIC MASS SHOOTINGS In 2016 Adam Lankford published a widely propagated article purporting to show that during a 47-year period the United States represented 31 percent of worldwide public mass shooters, and claiming that the outsized U.S. percentage is a result of gun prevalence. REPUBLICANS NEED NOT APPLY: AN INVESTIGATION OF THE industry, and 8.7:1 for students.9 For federal political contributors, the ratios are 17.8:1 for academics, 7.3:1 for government workers, 7.1:1 for economists who work in industry, and 20:0 for students. ARE GRAPHIC WARNING LABELS STOPPING Graphic warning labels are gruesome images on cigarette packages depicting diseased body parts, suffering, and death. An increasing number of countries have mandated them. RENT CONTROL: DO ECONOMISTS AGREE? Rent contRol: do economists agRee? 77 Volume 6, numbeR 1, Jan 2009. ation controls. (Arnott 1995, 118) he case against second-generation rent controls is so weak that REPLICATIONS IN ECONOMICS: A PROGRESS REPORT Replications in Economics: A Progress Report Maren Duvendack1,Richard W. Palmer-Jones2, andW. Robert Reed3 LINK TO ABSTRACT Inproducinganeconometricstudy ECON JOURNAL WATCH: SCHOLARLY COMMENTS ON ACADEMIC ECONOMICSARTICLES ARCHIVEABOUT ABOUT & CONTACTSUBMISSIONS CALL FOR PAPERSNEWS NEWS &PRESS
Econ Journal Watch (EJW) is an online academic journal publishing Comments on economics research, articles appearing in economics journals, and the ec COLONIAL NEW JERSEY'S PAPER MONEY: A REPLY TO MICHENERAUTHOR: FARLEYGRUBB
In the September 2020 issue of Econ Journal Watch, Ronald Michener published his seventh critical comment on my research.As in my past replies, I demonstrate that Michener is misguided. I demonstrate that Michener does not understand basic microeconomic theory; that Michener does not understand rational expectations or how to make it operational; that Michener does not understand my THE EDUCATIONAL BENEFITS OF OBSCURITY: PEDAGOGICAL This article is a republication, by permission, of a chapter of Arthur M. Melzer’s book Philosophy Between the Lines: The Lost History of Esoteric Writing (University of Chicago Press, 2014). The book explains four purposes or motives to esotericism: defense, protective, pedagogical, and political. ADAM SMITH'S IMPARTIAL SPECTATOR · ECON JOURNAL WATCH In Smith’s naturalistic account of morals, the impartial spectator might be seen as problematic: If this spectator were interpreted as an ideal observer, an omniscient judge, or as the representative of God speaking to us through our conscience, it would be inconsistent with Smith’s naturalistic ambitions. ADAM SMITH'S LIBRARY: GENERAL CHECK-LIST AND INDEX · ECON GENERAL CHECK-LIST AND INDEX Bonar Smith This Author Title Cat. Cat. Suppl. Academie Dictionnaire 49 franijaise Obse IS THE UNITED STATES AN OUTLIER IN PUBLIC MASS SHOOTINGS In 2016 Adam Lankford published a widely propagated article purporting to show that during a 47-year period the United States represented 31 percent of worldwide public mass shooters, and claiming that the outsized U.S. percentage is a result of gun prevalence. REPUBLICANS NEED NOT APPLY: AN INVESTIGATION OF THE industry, and 8.7:1 for students.9 For federal political contributors, the ratios are 17.8:1 for academics, 7.3:1 for government workers, 7.1:1 for economists who work in industry, and 20:0 for students. ARE GRAPHIC WARNING LABELS STOPPING Graphic warning labels are gruesome images on cigarette packages depicting diseased body parts, suffering, and death. An increasing number of countries have mandated them. RENT CONTROL: DO ECONOMISTS AGREE? Rent contRol: do economists agRee? 77 Volume 6, numbeR 1, Jan 2009. ation controls. (Arnott 1995, 118) he case against second-generation rent controls is so weak that REPLICATIONS IN ECONOMICS: A PROGRESS REPORT Replications in Economics: A Progress Report Maren Duvendack1,Richard W. Palmer-Jones2, andW. Robert Reed3 LINK TO ABSTRACT Inproducinganeconometricstudy FOLLOW EJW · ECON JOURNAL WATCH Follow EJW. Get Econ Journal Watch piped straight to your RSS or Atom feed reader, using any of our free site feeds: Complete EJW feed — The whole Econ Journal Watch site in one simple feed. (Includes all Articles, News, & EJW audio) EJW Article feed — Just articles featured in the journal. EJW News feed — Just EJW News bites andlinks.
EJW AUDIO · ECON JOURNAL WATCH EJW Audio The voice of Econ Journal Watch. The host of EJW Audio is Lawrence H. White, a co-editor of EJW and professor of economics at George Mason University.. In a typical EJW Audio podcast, Professor White and the author of a recent EJW article discuss that article and related issues.. Enrique Guerra-Pujol on Adam Smith’s Love Life.Posted 31 Mar 2021
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Ideological Profiles of the Economics Laureates. These are ideological profiles of individuals who were awarded the Sveriges Riksbank Prize in Economic Sciences in Memory of ADAM SMITH'S LIBRARY: GENERAL CHECK-LIST AND INDEX · ECON GENERAL CHECK-LIST AND INDEX Bonar Smith This Author Title Cat. Cat. Suppl. Academie Dictionnaire 49 franijaise Obse THE SOCIAL THEORIES OF CLASSICAL POLITICAL ECONOMY AND This is the first-ever English translation of an 1891 essay by Carl Menger published in the most important newspaper of the Habsburg Empire, the Neue Freie Presse.Menger writes the piece as a defense of classical political economy in general and of Adam Smith in particular, focusing on misinterpretations of Smith’s work by the Younger Historical School in Germany. THE MEANING OF COMPETITION · ECON JOURNAL WATCH Reprinted here, with kind permission from University of Chicago Press, is the text deriving from a lecture given in 1946. Hayek discusses what, in plain language, the word competition means, and affirms that meaning. He teaches that the plain-language meaning is different than, even in important respects opposite from, the meaning conceived by the science-fiction model known as “perfect LIBERALISM IN BRAZIL · ECON JOURNAL WATCH : SOUTH AMERICA Brazil is known for governmental intervention in its economy and a weak rule of law. Such characteristics tend to obscure a significant liberal tradition, which influenced the course of Brazilian events many times. Brazil’s liberal tradition existed before Brazilian independence in 1822. This article provides an historical account ofthe
AGAINST STANDARD DEVIATION AS A QUALITY CONTROL MAXIM IN Anthropometry is the study of the measurements and proportions of the human body. In the field, many practitioners have adopted a questionable quality control maxim. CONFIRMATION THAT THE UNITED STATES HAS SIX TIMES ITS Adam Lankford is a professor of criminology and criminal justice at The University of Alabama. He is the author of two books and manypeer-r
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VOLUME 17, ISSUE 2, SEPTEMBER 2020 IN THIS ISSUE (.PDF):
FIVE CITIES, FIVE STORIES? Robert Kaestner explores the heterogeneity of results across Baltimore, Boston, Chicago, Los Angeles, and New York in the work of Raj Chetty, Nathaniel Hendren, and Lawrence Katz, arguing that it is misleading to suggest that moving before the age of 13 to lower-poverty neighborhoods promises better outcomes. Chetty, Hendren, and Katzrespond.
THE AEA: REPUBLICANS NEED NOT APPLY: Mitchell Langbert investigates the American Economic Association , using voter-registration data and political-contribution data to show that the AEA officers, editors, authors, and other players are quite thoroughgoingly Democratic. THE _AER_: HOW MUCH SPACE IS GIVEN TO ARTICLES ON GENDER, RACE AND ETHNICITY, AND INEQUALITY?: Jeremy Horpedahl and Arnold Kling track the trends 1991–2020 for the _American Economic Review_ and _Papers & Proceedings_. LOCKDOWNS AND COVID HOSPITALIZATIONS: John Spry criticizes a _JAMA_ research letter by Soumya Sen, Pinar Karaca-Mandic, and Archelle Georgiou about the effectiveness of stay-at-home orders, for eliding available placebo comparisons. Sen, Karaca-Mandic, and Georgiou reply. READING, WRITING, AND ADAM SMITH: Scott Drylie uses Smith’s final words on school financing to review interpretations of Smith on schooling. CARL MENGER: _THE ERRORS OF HISTORICISM IN GERMAN ECONOMICS_ : The first English translation of Menger’s 1884 reply to Gustav Schmoller is provided by Karen Horn and Stefan Kolev, whose Foreword analyzes the not-so-amicableMethodenstreit.
DATA ALTERATION: Ron Michener rejoins to Farley Grubb , explaining why he thinks that Grubb had no grounds for altering John McCusker’s data series and thereby generating outliers on which his results depend. (Professor Grubb received Professor Michener’s comment too late to allow for concurrent reply but will reply in the next issue of this journal.) FRICTIONLESS NOTE: With the approval and gratitude of Jeffrey Bergstrand, Nico Stoeckmann corrects the constant in the equation for a special, frictionless case of Bergstrand’s gravity equation for internationaltrade.
LIBERALISM IN BRAZIL : Lucas Berlanza provides a historical and modern guide to the fortunes of liberal ideas and trends in Brazil, extending the CLASSICAL LIBERALISM IN ECON, BY COUNTRY seriesto 20 articles.
READWORTHY 2050: Nine correspondents respond to the question: What 21st-Century Works Will Merit a Close Reading in 2050?EJW AUDIO:
Karen Horn and Stefan Kolev on Menger vs. Schmoller : The translators discuss Menger’s 1884 _The Errors of Historicism in German Economics_ and the broaderMethodenstreit.
Arnold Kling on Why Edward Leamer Deserves a Nobel Prize Evan Osborne on Joan Robinson’s Little-Repented MaoismCALL FOR PAPERS
Who should get the Nobel prize in economics, and why? EJW fosters open exchange. We welcome proposals and submissions of diverse viewpoints. EJW also welcomes ‘journal watch’ submissions beyond Econ.
READ THE SEPTEMBER 2020 ISSUE IN FULL (.PDF) Table of contents (.pdf) with links to articles‹ Previous issue
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