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- Carlson, Benny
(author)
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Eli Heckscher’s Ideological Migration Toward Market Liberalism
- 2016
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In: Econ Journal Watch. - 1933-527X. ; 13:1, s. 75-99
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Journal article (peer-reviewed)abstract
- For most of his life economist and economic historian Eli Heckscher was the most firmly principled economic liberal Sweden had. He fought against state-socialist tendencies, Keynesian crisis policy, and economic planning. In his younger days, however, he was a social conservative who adopted an almost state-socialist stance. This article provides an account of Heckscher’s ideology and its development, drawing on previously untranslated policy-oriented discourse and focusing on Heckscher’s movement toward market liberalism. It details Heckscher’s liberal insights in political economy and his fears of a government with unprecedented resources, the creation of a “Frankenstein’s monster.”
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- Geijer, Erik Gustaf, 1783-1847
(author)
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An Economic Dream
- 2017
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In: Econ Journal Watch. - : INST SPONTANEOUS ORDER ECONOMICS. - 1933-527X. ; 14:3, s. 488-491
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Journal article (pop. science, debate, etc.)abstract
- Reproduced here is an 1847 article, in translation, the last that Erik Gustaf Geijer published during his lifetime. A Swede, Geijer-pronounced "yay-yer"-writes: "What is the new order of things? With each day, its law evolves more clearly; its substance is already so apparent that one can thereof judge its nature and the spirit of progress. This substance is the day-by-day, constantly evolving, all-encompassing fellowship and interaction of human powers and needs. This new, but actually ancient law of labour is that of intelligence, which works in expanding circles."
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- Johansson, Dan, 1964-, et al.
(author)
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Economics Doctoral Programs Still Elide Entrepreneurship
- 2017
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In: Econ Journal Watch. - : Atlas Economic Research Foundation. - 1933-527X. ; 14:2, s. 196-217
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Journal article (peer-reviewed)abstract
- Is entrepreneurship covered in economics doctoral programs? Updating an earlier study (Johansson 2004), we examine leading programs in the United States and Sweden by textual analysis of textbooks and assigned articles in microeconomics, macroeconomics, and industrial organization courses. We find that coverage of entrepreneurship in textbooks is scant and that theories regarding the function of the entrepreneur are hardly mentioned in assigned articles. Talk of the entrepreneur is more common in a few newer textbooks, which could indicate a renewed interest. But even textbooks that mention the entrepreneur do not define the concept or discuss the entrepreneur’s economic role in any depth; often the entrepreneur is just another optimizing agent within a model, like a borrower, manager, or investor.
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- Probst, Julius
(author)
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Lawrence Summers Deserves a Nobel Prize for Reviving the Theory of Secular Stagnation
- 2019
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In: Econ Journal Watch. - 1933-527X. ; 16:2, s. 342-373
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Journal article (peer-reviewed)abstract
- Lawrence Summers produced a big upset within the economics profession when he revived Alvin Hansen’s theory of secular stagnation, which had been thought of as an old-Keynesian fallacy. While some economists like Brad DeLong and Paul Krugman instantly recognized Summers’s contribution, a large share of the economics profession remained skeptical at first. Whereas most New Keynesian models allow for macroeconomic shocks to have only transitory effects, Summers argued that the global natural real interest rate has fallen into negative territory. Furthermore, he suggested a number of reasons why this equilibrium might not be only transitory in nature. This also led Summers to believe that economies could be more prone to financial bubbles and persistent shortfalls in aggregate demand. I summarize the secular stagnation debate and outline the main empirical support of the secular stagnation interpretation, including falling real interest rates, lower productivity growth, increasing inequality, and rising asset prices. Ever since Summers first outlined his theory, global growth has been extremely anemic and interest rates have declined to even lower levels. Given that many aspects of the secular stagnation debate now find increasing empirical support, I argue that Summers deserves to win the Nobel Prize in economics on the grounds of reviving a once-dismissed theory and initiating the most important macroeconomic debate of our times.
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- Stern, Charlotta
(author)
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Undoing Insularity : A Small Study of Gender Sociology's Big Problem
- 2016
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In: Econ Journal Watch. - 1933-527X. ; 13:3, s. 452-466
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Journal article (peer-reviewed)abstract
- In my experience as a sociologist, I see many ways in which gender sociology tends to insulate itself from challenges to its own sacred beliefs and sacred causes. The sacred beliefs are to the effect that the biological differences between the sexes are minor and that the cultural differences between the genders have little basis in biological differences. The scholarly findings that challenge the sacred beliefs come from anthropology, developmental psychology, evolutionary psychology, the neurosciences, genetics, biology, and many other fields. For many decades now researchers have amassed findings of differences in competitiveness, aggression, sexual interest, risk behavior, and many other traits, and differences in brain physiology and neuroimaging, by many different methods and approaches. I investigated a sample of top cited gender sociology papers to test my impression, and indeed the findings illustrate extreme insularity. It saddens me to see students and scholars fall into insular communities of highly dubious sacred beliefs and causes. I propose that gender sociologists strive to undo insularity.
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