Clintonomics: Introductory comments

Vice President of the Atlantic Economic Society 1992–93.     

Clintonomics: The first year

This paper reviews the Clinton economic program's first year. It begins by identifying three distinguishing features of the Clinton approach: 1) The belief that government should be more involved in the economy; 2) A concern about the distribution of resources in society; and, 3) A belief that the recent large budget deficits do represent an important economic problem. It then considers the three main economic issues of the Clinton administration's first year—the 1993 budget package, the North American Free Trade Agreement (NAFTA), and health care reform—in terms of these three features. The paper's overall conclusion is that the Clinton administration has made a considerable effort at achieving economic progress during its initial year, but that, particularly as health care reform progresses, more attention needs to be paid to economic principles.     

Economic theories of leisure: Some comments and suggestions

Summary Most economic theories of leisure are concerned with valuations of leisure time related to income as an opportunity cost. After a critical discussion of these theories, leisure time as a constraint is introduced in the theory of consumer behaviour by (1) distinguishing between pleasant and unpleasant consumer activities, (2) discussing the effects on individual's welfare of changes, in the duration of both types of activities and (3) developing time-saving concepts. A theoretical framework for consumer choices under time and/or income constraints leads to suggestions for the lines along which leisure research should be developed as a basis for welfare policy in the widest sense.My thanks are due to Professors P. Hennipman, L. H. Klaassen, A. Pais and Mr. D. B. Needham for the valuable suggestions they made during the preparation of this article. Several parts of it will be presented in a more detailed form in a thesis on the subject.     

Fertility,income distribution and economic growth: theory and cross-country evidence: comments

In a recent paper, Galor and Zang attempt to explain the large observed cross-country disparities in the levels and growth rates of per capita output. Cross-country variation in family size and income distribution patterns are an important element of such an explanation. Galor and Zang support the arguments put forth in their paper by using a simple variation of the model published by Galor and Zeira in 1993 and 70 cross-sectional growth regressions in the style of Barro's 1991 work. Some points in Galor and Zang's recent work require clarification. The author therefore reviews their work with the goal of clarifying some of Galor and Zang's underlying assumptions which are not that clear in their paper. The aim is to give the reader an idea of what Galor and Zang's paper does and does not do.     

傅文俊摄影浅析

傅文俊商海沉浮多年,作为一个成功的企业家和广告人,他通常面对的是如何满足客户各种各样的需求,其中不乏妥协和迎合的无奈。而摄影创作中,他只需面对自己的内心感悟和身负的责任并对社会和历史的问题进行深刻反思。正是艺术的自由表达和个人化吸引着人到中年的傅文俊把更多的精力和时间投入到摄影的创作中,并源源不断地创作出新的作品。     

Characteristics of black-owned corporations in Atlanta: With comments on the SMOBE undercount

Black-owned corporations are only 3 percent of all black-owned businesses in the nation, but account for almost half of all revenue and employment of these businesses. Even though their rate of growth greatly exceeds that of proprietorships and partnerships, very little is known about the characteristics of black-owned corporations. TheSurvey of Minority-Owned Business Enterprises (SMOBE) is published every five years by the Department of Commerce and is the most comprehensive source of information on black-owned businesses. Yet, most researchers fail to realize that this survey does not include all corporations in its survey universe, but only 1120 S corporations. This study uses primary data collected on 722 of the most successful blackowned businesses in the Atlanta metropolitan area. We analyze the characteristics of black-owned corporations and the human capital attributes of their owners, and we comment on the SMOBE undercount of 1120 subchapter C corporations. We find that in Atlanta, not only do black-owned subchapter C corporations greatly outnumber S corporations, but they also have a much greater financial capacity.