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Full-Text Articles in Political Economy

From Economic Crisis To Reform: Imf Programs In Latin America And Eastern Europe By Grigore Pop-Eleches (Book Review), Aleksandra Sznajder Lee Oct 2009

From Economic Crisis To Reform: Imf Programs In Latin America And Eastern Europe By Grigore Pop-Eleches (Book Review), Aleksandra Sznajder Lee

Political Science Faculty Publications

Grigore Pop-Eleches’s book on the interaction of international and domestic determinants of IMF-style reforms in developing countries makes a significant contribution to international and comparative political economy literature. His effort to capture the dynamics of the contentious and complex relationship between the IMF and developing countries/emerging markets inLatin AmericaandEastern Europerepresents mid-range theorizing at its best. The author combines insights from international and comparative political economy literatures to pursue complementary questions. From the international effect perspective: what role do economic crises play in the initiation and implementation of IMF-backed economic reform? Is the IMF impartial in its policy and ...


Theory, Application And The Canon: The Case Of Mill And Jevons, Sandra J. Peart Jan 2001

Theory, Application And The Canon: The Case Of Mill And Jevons, Sandra J. Peart

Jepson School of Leadership Studies articles, book chapters and other publications

Whatever disputes remain about the nature and content of the "canon" of economics, it is widely accepted that the boundary of economic science was narrowed throughout the nineteenth century (Winch 1972). This chapter offers a partial explanation for that narrowing in the methodological developments that occurred during the second half of the century. For reasons of practicality in the face of pronounced "multiplicity of cause," John Stuart Mill called, In his 1836 Essay On the Definition of Political Economy; and on the Method of Investigation Proper to It, and again in his 1843 Logic, for a separate and specialized science ...


John Stuart Mill's Method In Principle And In Practice: A Review Of The Evidence, Samuel Hollander, Sandra J. Peart Jan 1999

John Stuart Mill's Method In Principle And In Practice: A Review Of The Evidence, Samuel Hollander, Sandra J. Peart

Jepson School of Leadership Studies articles, book chapters and other publications

We believe an additional, and contrasting, interpretation of Mill’s method is supported by the evidence. For in our view Mill insisted on the possibility of theory modification in the light of inadequacies revealed by empirical evidence, and also held that the central behavioral axiom is not of universal relevance but is pertinent only to the local circumstances of contemporary Great Britain and America—and, even so, qualified as we shall see—that axiom itself is empirically based. On our reading, there is more in common between his research strategy and that of Milton Friedman than is sometimes granted, at ...


Low Inflation: The Surprise Of The 1990s, Dean D. Croushore Jul 1998

Low Inflation: The Surprise Of The 1990s, Dean D. Croushore

Economics Faculty Publications

For most of the 1990s, forecasters have been predicting an upturn in inflation. Yet, over that same period, the United States has experienced stable or declining inflation. Why have forecasts been at odds with reality? And why does it matter? In this article, Dean Croushore considers some answers to these questions and explains why inflation is the economic surprise of the decade.


Exercise The Power Of The Purse With Hussein, Porcher L. Taylor Iii Jan 1997

Exercise The Power Of The Purse With Hussein, Porcher L. Taylor Iii

School of Professional and Continuing Studies Faculty Publications

In the same shrewd diplomatic spirit displayed by the Pentagon in its recent purchase of a squadron of MIG-29 fighter jets from Moldova in order to preempt the sale of the planes to Iran, the U.S. should offer to buy Iraq's entire biochemical weapons arsenal and then destroy it in place. Let's call this emerging instrument of U.S. foreign policy "preemptive economic diplomacy."


What Are The Costs Of Disinflation?, Dean D. Croushore May 1992

What Are The Costs Of Disinflation?, Dean D. Croushore

Economics Faculty Publications

The Federal Reserve can use monetary policy to reduce the inflation rate, a process known as disinflation. Are the benefits of disinflation worth the costs? Proponents of disinflation argue that the long-run benefits of price stability, including lower interest rates, increased economic efficiency, and perhaps faster economic growth, greatly exceed the short-run costs. Opponents, of course, claim the opposite, usually arguing that the short-run costs in terms of higher unemployment and lost output would be immense.


Government Financial Policy And Capital, Dean D. Croushore Oct 1987

Government Financial Policy And Capital, Dean D. Croushore

Economics Faculty Publications

Economists have long been concerned about the best way to finance government deficits. Finding the proper fiscal policy and monetary policy mix is a crucial decision. When government debt grows too fast, interest rates rise and capital is crowded out. If the money growth rate is excessive, inflation occurs.

The study of this issue at the theoretical level requires a model which incorporates the following features: (1) modeling money and bonds as endogenous financial assets, whose rates of return are determined in general equilibrium, (2) examination of the utility maxi mization decisions of individuals, so that welfare analysis of alternative ...