Financialization and Income Inequality in the United States, 1967–2010

This article presents a historical overview of the late 20^th‐century advent of financialization, that is, the unprecedented growth of the financial sector. We summarize its origins and consequences, particularly greater income inequality. An econometric model quantifies the relationship. We conclude that along with higher unemployment and an eroding minimum wage, the growth of the U.S. financial sector has contributed to the exacerbation of inequality in recent decades.     

Output and unemployment dynamics in the United States: 1950–1985

For US data over 1950–1985 the stochastic components of GNP growth and the unemployment rate appear to be stationary, and there is substantial feedback between these variables. The unconditional mean rate of unemployment in a joint model thus provides a natural benchmark in discussions of the ‘business cycle’. A bivariate VAR model is used to describe output–unemployment dynamics, to estimate the degree of persistence of output innovations, and to decompose output into trend and cycle. The bivariate results are interpreted using a restricted VAR and it is shown that a closely related cyclical measure can be obtained directly from the Okun's Law equation.     

Mobility and the social organization of urban space in the United States, 1760–1820

La nature spécifique des luttes de classes dans les villes américaines avant les années 1870 a reçu, curieusement, peu d'attention de la part des historiens. Cet article examine l'évolution de la lutte de classes dans les villes du nord-est entre 1760 et 1820. Il est soutenu que pendant cette période le travail est devenu marchandise, ou force de travail, et que la distinction entre travail et force de travail est créé par la mobilité, fondement sur lequel l'accumulation du capital devient possible. ‘L'accumulation primitive’ est précédée par la ‘mobilité primitive’ dont il y a évidence aussi tôt que les années 1760 dans l'agriculture commerciale des régions du nord-est. Si la structure du travail temporaire urbain demeure en grande partie inchangée pendant cette periode, celle du travail artisanal devient sujette aux contraintes de la ‘force du travail’ au début du dix-neuvièrne siècle. Si le contrôle du pouvoir politique est à la base de la lutte de classes urbaine à la fin du dix-huitième siècle, vers les années 1820 il devient plutôt contrôle du pouvoir économique. Les réformes proposées dans les années qui suivent, ont comme objet la modification du comportement économique de la classe ouvrière ou des ‘pauvres’, qui étaient en effet en grande partie des Américains d'origine et non des immigrants. Ces réformes ont une portée spéciale dans les grandes villes où la réorganisation du travail par le capital fait face à des réactions violentes basées sur des idées communautaires plus anciennes. Ces réformes étaient essentielles à la réorganisation rationale de l'espace urbain social, et en tant que tel, représentent le commencement de la ‘modernisation’ des conflits de classes.     

美国地方政府治理体制的研究与借鉴

美国经过200多年的发展,形成了较为完善的行政管理体制,美国地方政府治理体制的特点主要体现在如何界定联邦政府与地方政府之间的权力关系,如何设立分工合作、独立运行的行政执行系统两个方面。对完善我国当前的地方政府治理体制有重要的借鉴作用,要研究符合我国国情的中央政府与地方政府之间的权力关系、研究构建新型的行政执行体系、适当缩小省级政府的规模、适度减少行政层级,从而构建符合我国国情的地方政府治理体制。     

Market Cycles: Bicycles,Riders, Industries,and Environments in France and the United States, 1865–1914

Issues of supply and demand are basic to markets, but economic sociologists ignore consumers, while sociologists of consumption rarely treat consumption as demand. I conceptualize markets as cyclic interactions of producers and consumers around a product, each group embedded in different types of macrosocial patterns, with different purposes and structures. I apply this conceptualization to the French and U.S. bicycle markets from 1865 to 1914. The model helps explain differing market trajectories in these cases.     

The performance of coal-burning electric generating units in the United States: 1960–1980

This paper studies determinants of the thermal efficiency and reliability of coal-burning electric generating units using a new, comprehensive, unbalanced panel data set. For two major technological groups consistent and efficient estimates are obtained of the effects of unit age, vintage, scale, operating practices, and coal quality. Large utilities integrated into design and engineering appear to obtain superior unit performance. Implications of our results for life-cycle generation costs, regulators' performance norms, and the complex pattern of technological change in this industry are discussed.     

A Note on the Technical and Allocative Efficiency of Local Exchange Carriers in the United States

The issue explored is whether incentive regulation of local exchange carriers in the United States has resulted in an increase in efficiency. After providing an overview of the nature of incentive regulation, the methodology for measuring the effects of incentive regulation on efficiency is reviewed. This methodology is data envelopment analysis and allows for the measurement of both technical efficiency and allocative efficiency of individual local exchange carriers. The results of empirically implementing the DEA approach indicate that there is little change in technical efficiency. In fact average technical efficiency in 1988 was the same as in 2001. Next, while outputs continued to grow at about their historical rate across LECs, the sizeable increase in the two types of capital increased inputs well above their historical average rates for some LECs leading to short run allocative inefficiency. On average, however, allocative efficiency shows no identifiable trend between 1988 and 2001. Finally, in the aggregate, total economic efficiency does not demonstrate any trend between 1988 and 2001.     

在美国吃快餐

每天的午餐是美国人一日三餐中食品最简单、食量最少、最好对付的一餐,通常都是吃快餐.到了中午,美国的大街小巷上食客众多热闹异常.有一边看书报一边吃、一边听着音乐手舞足蹈一边吃的,有坐在车里吃、站在路边吃、蹲在树下吃的,甚至走在路上吃、连跑带吃的也随处可见.美国人追求效率效果,讲究省时省力,注重方便实惠,正是这一特点,使得作为美国餐饮文化特征的快餐渗透到美国社会的各个角落.     

Revitalizing Inner‐City Neighborhoods in the United States

Books reviewed in this article: Ronald F. Ferguson and William T. Dickens ,(eds.) Urban problems andcommunity development Michael R. Greenberg, Restoring America's neighborhoods: how local people make a difference W. Dennis Keating and Norman Krumholz, (eds.) Rebuilding urban neighborhoods: achievements, opportunities and limits John Kromer, Neighborhood recovery: reinvestment policy for the new hometown William Peterman, Neighborhood planning and community‐based development: the potential and limits of grassroots action     

Local autonomy or centralism—when was the original sin committed?

What makes a fact appear historical to a historian is its preterite nature — its place in past time. What can be more natural than to assume that its position in past time is sufficient not only to locate an historical fact but also to explain it? The argument that post hoc is propter hoc comes naturally to historians (Postan, 1962).