One of the more troubling aspects of the ferment in macroeconomics that followed the demise of the Keynesian dominance in the late 1960s has been the inability of many of the new ideas to account for unemployment remains unexplained because equilibrium in most economic models occurs with supply equal to demand: if this equality holds in the labor market, there is no involuntary unemployment. Efficiency Wage Models of the Labor Market explores the reasons why there are labor market equilibria with employers preferring to pay wages in excess of the market-clearing wage and thereby explains involuntary unemployment. This volume brings together a number of the important articles on efficiency wage theory. The collection is preceded by a strong, integrative introduction, written by the editors, in which the hypothesis is set out and the variations, as described in subsequent chapters, are discussed.

Magdoff’s analysis is the foundation upon which the work of an entire tradition of Monthly Review authors rests.

This book examines the much-debated question of whether John Maynard Keynes' greatest work— The General Theory of Employment Interest and Money —was an instance of Mertonian simultaneous scientific discovery. In part I of this study, Don Patinkin argues for Keynes' originality, rejecting the claims of the Stockholm school and the Polish economist Michal Kalecki. Patinkin shows that the theoretical problems to which the Stockholm school and Kalecki devoted their attention largely differed from those of the General Theory and that, even when the problem addressed was similar, the treatment they accorded it was not part of their central messages. In the remaining parts of the book Patinkin presents a critique of Keynes' theory of effective demand and discusses Keynes' monetary theory and policy thinking, as well as the relationship between the respective developments of Keynesian theory and national income accounting in the 1930s.

Book by Domb, Cyril

From the dust "This book proposes a scientifically grounded method by which we can understand-and perhaps control-human conflict in all its forms. Dr. Rapaport discerns three levels; he analyzes fights...games...and debates."

These essays deal with various aspects of a new, rising field, socio economics. The field is seeking to combine the variables studied by neoclassical economists with those typically studied by other social sciences. The combination is expected to provide a better understanding of economic behavior and the economy as well as society; make more reliable predictions; and be more in line with normative values we seek to uphold. The new field, though, may be less elegant mathematically and possibly less parsimonious than neoclassical economics. Some of my ideas on this subject are included in a previously published book, The Moral Dimension: TowardA New Economics (New York: The Free Press, 1988). They also led to a formation of an international society of several thousand scholars who are interested in the field, the Society for the Advancement of Socio-Economics. The essays at hand are in effect grouped. The first two, previously published respectively in the Journal of Economic Psychology and Business Ethics Quarterly, reflect my most recent thinking. They both have a utopian streak that may stand out especially in these days when unfeathered capitalism is the rage. The first points to people, who far from making consuming ever more their life's project, seek a less affiuent way oflife. It examines the psychological foundations and the social consequences of such an approach.

This work has been selected by scholars as being culturally important and is part of the knowledge base of civilization as we know it. This work is in the public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. To ensure a quality reading experience, this work has been proofread and republished using a format that seamlessly blends the original graphical elements with text in an easy-to-read typeface. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.

Official Mises Institute EditionThis fiery monograph shows a side of Murray Rothbard not seen in his theoretical treatise: his ability to employ "power elite" analysis to understand the relationship between money, power, and war.Rather than allow the left to dominate this approach to history; Rothbard shows how wealthy elites are only able to manipulate world affairs via their connection to state power. Those mainstream historians might deride Rothbard's history as a "conspiracy" approach, Rothbard himself is only out to show that world affairs are not random historical forces but the consequence of choices and paths chosen by real human beings.Here he gives the grim details of how a network of banks, bond dealers, and Wall Street insiders have both favored war and profited from it.The contents of this volume include a long and thoughtful introduction by Anthony Gregory and an afterword by Justin Raimondo.

This book offers a unique insight into the character of Austrian economics. This work also collects the recent work of the leading authorities in this area, and will be an indispensible tool for all those interested in the implications of Austrian approach on economics. The author also examines *the market economy *theories of Competition and Entrepreneurship *the Mises-Hayek legacy.

Do you ever watch the business news and think: what would Murray Rothbard say about this? He remained a news junky all his life, even while working on his grand scholarly treatises. He was no academic snob; he believed, like Mises, that economics was the business of everyone. It is in this book that you find his running commentary on all the economic issues that vexed the world between 1982 and 1995. They are the same issues in the headlines today! The goal of this hefty tome (551pp) by this master economist is to communicate with the public about economic theory and policy, in the form of articles that appeared in the Mises Institute's monthly .This is the expanded Second Edition, and it includes 117 articles--several additional ones that were left out of the original. It includes "Taking Money Back," a 25-page populist case for the gold standard, his famous "Protectionism and the Destruction of Prosperity," along with a new essay on fixed-exchange rates, and an obituary of Ludwig von Mises. It also has a new introduction by Robert Murphy. For this reason, it is nearly 100 pages longer.No economist has ever written so clearly about subjects usually wrapped in mystery. Even when discussing exchange rates, interest rates, and central banking, Rothbard is clear and persuasive. That's what makes this book so wonderful, and so dangerous to the purveyors of economic fallacy and those who enforce their ideas on the public. Robert Murphy has written that it was this book that is most likely to get people interested in economic issues. Rothbard's prose is witty and strong, and his logic is compelling at every step. "Divided up topically, the book touches upon almost every important policy issue that has been before the public during the last decade... Reading through these over 100 articles reminded me just how deep my intellectual debt to him really was, and how richer the cause of freedom has been because of his writings over the decades." Richard Ebeling, Foundation for Economic Education. With a new introduction by Robert Murphy

Bearing on fundamental issues of economic theory, history, and public policy, this volume elaborates and goes beyond themes enunciated in W. W. Rostow's previous works. The eight essays presented here are unified by the author's insistence that neo-Keynesian and neoclassical theory are an inadequate basis for economic analysis and policy prescription. Changes in technology and in the supply of energy, food, and raw materials, he contends, must be taken into account. The scale and character of the investments required to respond to these changes link his analysis back to conventional income analysis. Rostow outlines in several contexts the framework for a general, disaggregated theory of production and prices that meets this criterion. The theoretical and historical essays include a review and unification of various long-cycle theories; a formal mathematical model of the Kondratieff cycle; a review of theories relating technology and the price system, including Rostow's own formulation of the appropriate linkage; a lengthy analysis of the pre-1914 relation between money and prices, including a detailed critique of modern monetarist interpretations; and an analysis of the proposition that economic growth assumes an S-shaped path of acceleration and deceleration. The policy essays include an examination of the links between energy-related investment, full employment, and patterns of regional development in the United States; the discussion of an appropriate framework and procedure for North-South international economic negotiations; and the text of a 1965 talk on inflation that touches on the relations among economics, economists, and the performance of societies as a whole.

This first comprehensive story of logging, lumbering, and forest conservation in Texas records the industry's history from the earliest days of the Republic, when a few isolated operations provided for local needs, through the first four decades of the twentieth century. Supplemented by over one hundred photographs, many never before published, the text re-creates Texas' heyday as one of the nation's leading timber producers. At that time, the forested area equaled the state of Indiana. In the words of one visitor, the forest was "like a vast wave that has rolled in upon a level beach . . . creeping forward, thinning out, and finally disappearing, except where, along a river course, it pushes far inland." The industry's most significant growth occurred between the end of Reconstruction and the beginnings of World War II, when entrepreneurs from the North, the South, and the East ventured into the vast stands of virgin timber in the Texas Piney Woods. These pioneers, attracted by the great potential fortunes to be made, provided the capital, expertise, and energy that introduced large mills and railroads to Texas lumbering and developed markets for their products--not only in Houston, Dallas, and other Texas cities but also across the United States and throughout the world. Various lumber companies, logging and mill operations, company towns, and the genesis of forest conservation are all featured in the text and illustrations. This account will appeal to historians, conservationists, and general readers interested in the Texas lumber industry and in Texas economic history.

“Pre-eminent among historians of labor history.†—Arthur Schlesinger, Jr. The textbook history of the 1920s is a story of Prohibition, flappers, and unbounded prosperity. For millions of industrial workers, however, the “roaring twenties†looked very different. Working-class communities were already in crisis in the years before the stock market crash of 1929. Strikes in the 1920s and attempts to organize the unemployed and fight evictions in the early 1930s often fell victim to police violence and repression. Here, Irving Bernstein recaptures the social history of the decade leading up to Franklin Delano Rooseveltâ€s inauguration, uncovers its widespread inequality, and sheds light on the long-forgotten struggles that form the prelude to the great labor victories of the 1930s. "In other words, viewed from afar, most of the people who were suffering the hardships of the Depression were depressed and even ashamed, ready to blame themselves for their plight. But the train of developments that connects changes in social conditions to a changed consciousness is not simple. People, including ordinary people, harbor somewhere in their memories the building blocks of different and contradictory interpretations of what it is that is happening to them, of who should be blamed, and what can be done about it. Even the hangdog and ashamed unemployed worker who swings his lunch box and strides down the street so the neighbors will think he is going to a job can also have other ideas that only have to be evoked, and when they are make it possible for him on another day to rally with others and rise up in anger at his condition. —From the new introduction by Frances Fox Piven

This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. This work is in the "public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.

Carl Kaysen offers a penetrating economic analysis of the issues in the civil antitrust suit brought by the United States Government against the United Shoe Machinery Corporation under Sections 1 and 2 of the Sherman Act. Kaysen, who served as clerk to Judge Charles E. Wyzanski, Jr. of the U.S. District Court of Massachusetts for this case, provides background material on the technique of shoe machinery and shoe manufacture, on the history of the United Shoe Machinery, and on the Anti-Trust Laws.

A critical examination of the role of the independent regulatory commissions, attempting to develop a more realistic concept of the process of governmental regulation and to appraise the independent commission as an agent of governmental regulation at the national level. Originally published in 1955. The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These editions preserve the original texts of these important books while presenting them in durable paperback and hardcover editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.

Where you are in life today is the result of all of the past decisions which you have made or which have been made for you in response to the various situations and events, both expected and unexpected, that have impacted your life. The decisions that you will make from this point forward will determine the degree to which your future will be positive or negative. "Decision Time!" describes the subjective and multi-variable nature of real life decisions and demonstrates techniques for making complex decisions with ease and insight. "Decision Time!" provides guidance for many different decision-making situations with both personal and business aspects. Topics with examples from life include games, negotiation, the challenge of financing a college education, starting a small business, purchasing/shopping, family relationships, getting the government to listen to you, investments, and many more. "Decision Time!" gives you insight into the decision-making process as applied to both small and large choices you will face. It includes dynamic aspects, cultural effects, and morality as applied to decision-making for individuals, teams, and societies. "Decision Time!" prepares you to face the continuous impact of decision situations confidently and without hesitation.

This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. This work was reproduced from the original artifact, and remains as true to the original work as possible. Therefore, you will see the original copyright references, library stamps (as most of these works have been housed in our most important libraries around the world), and other notations in the work.This work is in the public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work.As a reproduction of a historical artifact, this work may contain missing or blurred pages, poor pictures, errant marks, etc. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.