A History of the Founding and Early Years of AFEE

During the late 1950s, institutionalists started organizing themselves amid the decline of institutional economics, leading to the 1965 founding of the Association for Evolutionary Economics (AFEE). We analyze the history of the movement to found AFEE and its early years. We use archival evidence, much of it previously unpublished, to provide a detailed history of these early years. We also present an account of AFEE that highlights the role of different interpretations of institutional economics in building the association. In addition, we provide a brief history of the early years of the Journal of Economic Issues (JEI).     

阿根廷经济危机与全球化遭遇挫折

拉丁美洲最先卷入了全球化进程，阿根廷是西方媒体称赞的全球化楷模，但近来阿根廷却爆发了严重经济危机，导致拉美出现了反全球化的新浪潮。     

The Costs of Financial Crises: Resource Misallocation,Productivity, and Welfare in the 2001 Argentine Crisis

Financial crises in emerging market countries appear to be very costly: both output and a host of partial welfare indicators decline dramatically. The magnitude of these costs is puzzling both from an accounting perspective – factor usage does not decline as much as output, resulting in large falls in measured productivity – and from a theoretical perspective. With the aim of resolving this puzzle, we present a framework that allows us to do the following. First, we account for changes in a country's measured productivity during a financial crisis as the result of changes in the underlying technology of the economy, the efficiency with which resources are allocated across sectors, and the efficiency of the resource allocation within sectors, driven both by reallocation amongst existing plants and by entry and exit. Second, we measure the change in the country's welfare resulting from changes in productivity, government spending, the terms of trade, and a country's international investment position. We apply this framework to the Argentine crisis of 2001 using a unique establishment level dataset and we find that more than half of the, roughly, 10 percent decline in measured total factor productivity can be accounted for by deteriorations in the allocation of resources both across and within sectors. We measure the decline in welfare to be of the order of one‐quarter of one year's gross domestic product.     

An Institutionalist Vision of a Good Economy

The current crisis in global capitalism and the wide-ranging problems that have been caused by the promulgation of a regime of deregulation of goods, services, and labor markets across the globe, but especially in the United States over the past thirty years, may indeed prove to be the end of the neoliberal era. Thus it is an opportune time to reconsider how the global economy could be restructured along more equitable and progressive lines. This paper will present the institutionalist vision of just such a good economy, building on the ideas of Veblen, Ayres, Commons, and Galbraith. The institutionalist vision of a good economy is productive but also non-invidious, democratic but also pragmatic, egalitarian but also efficient. The good economy must therefore be embedded in key social institutions, and be regulated appropriately to preserve the most beneficial social and cultural institutions. The good economy must, furthermore, be a full-employment economy, with jobs available to all who are capable of making productive contributions to their society and to enable those who labor to work in decent conditions. Finally, the good economy must provision all its members with the necessary means of subsistence for them to achieve their human aims.     

经济危机与可持续发展——第十二届全国政治经济学研讨会学术观点综述

第十二届全国政治经济学研讨会讨论了＂经济危机与可持续发展＂的问题,主要包括经济危机的成因研究、经济危机的影响研究、经济危机与宏观调控、经济危机的治理思路、应对危机的经验研究和可持续发展等。     

马来西亚的公司治理改革及其对当前经济危机的借鉴

1997年东南亚经济危机的原因之一是东南亚国家的公司治理比较混乱，从而在危机中暴露出很多的问题，马来西亚认识到了这个问题，并在之后进行了一系列的公司治理改革。本文将从马来西亚在改革前的情况和改革的措施（特别是对银行业的措施）以及相关的效果进行分析。在当前发生的经济危机中，公司治理有其导致危机的原因之一，因此，本文对于当前经济问题中的现成企业也有一定借鉴意义。     

Clarence E. Ayres and the Socialist Planning Debate

This article argues that two different manifestations of rational behavior can coexist and collide in a relatively homogeneous society. In the Ticuna community of Arara in the Colombian Amazon; on the one hand, the majority of villagers tend to reach relatively lower levels of material wealth, following Polanyi’s idea of the pre-modern man (1968a; 1968b; 1968c), and also Sahlins’ (1972) idea of the original affluent man. On the other hand, community leaders and schoolteachers tend to accumulate material wealth, following Polanyi’s idea of modern-man (1968a; 1968b). These behavioral frameworks help explain the limited success of certain types of development programs in the Ticuna community.     

Marxist Theories of Crisis and the Current Economic Crisis

Abstract

This paper uses data from the US economy and finds that among Marxist theories of crisis the marxian law of the falling rate of profit as a result of the increasing composition of capital explains the crisis of the 1970s and the end of the “golden age” of capital accumulation. Despite the dramatic increase in the rate of surplus value and the limited fall in the capital-output ratio profitability has not recovered sufficiently during the neoliberal period due to the survival of lagging capitals and the increasing use of unproductive labor. Financialization is one of the effects of low profitability. In the recent years financial bubbles the associated wealth effects and the significant increase in the debt of all domestic sectors raised aggregate demand and provided the stimulus for the anemic growth of the period. The break of the bubbles implies the return to the weak fundamentals of the real economy and possibly a deep and prolonged period of stagnation and crisis.     

印尼经济发展总体规划解读

2011年初,印尼政府紧锣密鼓地编制印尼经济建设中长期发展规划,其政府高官披露了印尼经济总体发展思路。根据海岛国家的特点,印尼将设立6大经济走廊,主抓8大行业18类项目。印尼设置相关的经济发展中心,旨在带动区域经济的快速扩张,实现国家跨越式的发展。作者对各经济走廊的优劣势进行解读,进而分析了广东政府与企业界应当抓住这一发展契机,走出国门,率先到印尼布局,抢占发展先机。     

云阳县经济林资源现状及持续发展策略

本文详述了云阳县经济林资源的现状、生产中存在的问题，根据云阳县不同的地形环境条件和适应商品经济的发展，提出了持续发展经济林木的策略。     

广西引进FDI的现状、问题及对策分析

面对新一轮国际跨国投资增长的势头,广西近年紧紧抓住新兴的发展机遇,在吸引外资方面取得了一定突破,但与此同时,国内利用外资形势发生了较大转变,广西必须顺势采取应对措施,企业领导人和政府决策者应当充分了解全球外国直接投资流动的最新趋势和不断出现的各种因素,审时度势,拟定本地区、本企业利用外资的应对策略,促进经济的发展。     

金融危机动荡下的甘肃经济稳定与发展

2008年由美国次贷危机引发的金融危机已全面蔓延,渗透到各个经济领域和经济区域,甘肃经济也同样受到金融危机的;中击。面对金融危机,首先要保持经济稳定、社会稳定,与此同时应充分利用国家政策,发挥政府在金融危机中的主导作用,甘肃经济发展的也应遵循这一原则和路径。甘肃经济在此次金融危机中挑战与机遇并存,甘肃省要充分利用金融危机中国家的相关政策,加快甘肃基础设施建设,调整产业结构,实现甘肃经济的稳定与发展。     

Institutionalism and the State: Founding Views Reexamined

Economists in the institutional tradition have spent a great deal of time dealing with the notions of governance and the state. Yet that school of thought has yet to develop a complete unified theory of either governance or the state. In the work Commons and Veblen we see very different levels of analysis and commentary on these issues. Both authors are recognized as founding thinkers in the Institutional school yet they differ on how they use their methods and they have differing ideas about the usefulness of the state. Still, considered together they present a fairly complete and useable set of ideas about how governance and the state work. This essay summarizes, clarifies, and somewhat expands on the views held by Commons and Veblen with the view of moving towards a clear and concise institutional theory of the state.

Institutionalism,Critical Theory,and the Administered Society

Paul Krugman recently suggested that John Maynard Keynes helped economists study and resolve mass unemployment at a time when few of them could understand the problem and institutionalists seemed unable to articulate a clear policy strategy. This article responds by outlining John R. Commons' case for full employment with liberty and his three-part strategy (addressing money, people and politics) for curing joblessness while saving capitalism. Commons' argument and recommendations offer insights that extend beyond Keynesian economics in important ways, and his contributions have special relevance today in light of the recent global financial crisis and still ongoing Great Recession.     

浅谈恩施州经济林发展现状与对策

经济林发展速度快,具有投产早、见效快、周期短、效益好等特点,但这些特点又使经济林产业容易受到市场价格波动的冲击,发展势头时好时坏,严重影响到了林农的生产积极性与经济林产业的发展。在分析湖北省恩施土家族苗族自治州发展经济林的资源优势、发展态势及存在的主要问题的基础上,提出了发展山区经济林产业相应的对策与建议。     

可持续发展及西部大开发背景条件下欠发达地区县域经济发展思路探讨——以贵州省息烽县县域经济与产业规划发展思路分析为例

从西部地区省份在我国特殊生态功能的角度出发,以贵州省的息烽县为例,对其经济发展的薄弱现状和息烽县所处的生态屏障的地位入手,根据国家宏观调控政策对西部地区县域产业及经济发展的相关规定,明确息烽县经济发展的功能定位,确立了息烽县县域经济与产业规划发展的基本思路,指出了生态功能的优先考虑的地位,为西部省份其他地区的县域经济发展提供参考与借鉴。     

Economic development, growth of human capital, and the dynamics of the wage structure

In this paper I elucidate the sources of growth of human capital in the course of economic development. On the supply side (Section 1) I include the growth of family income, urbanization, the demographic transition, and the rising cost of time.The supply side alone cannot explain the continuous growth of human capital as it implies a self limiting decline in rates of return below those in alternative investments. Such declines are offset by growing demands for human capital in the labor market. Growth of demand for labor skills is a function of capital accumulation and of technological changes. Evidence on this hypothesis is summarized in Section 2 and on supply responses to growing demand for human capital in Section 3. Changes in the skill and wage structures in the labor market are an important part of the evidence.The reciprocal relation between economic growth and the growth of human capital is likely to be an important key to sustained economic growth. A caveat applies to indirect effects of economic growth on family instability, which may lead to a deterioration of childhood human capital in some sectors of society.     

经济虚拟化、金融危机与政府规制

货币的虚拟化打开了经济虚拟化的大门,自由放任主义和政府失灵是经济虚拟化的重要推动力。经济全球化的本质是虚拟经济的全球化,美国的债务经济循环将全球经济紧紧地捆绑在一起,并为虚拟经济的发展不断注入流动性。金融危机产生的根源在于经济的过度虚拟化,导致整个金融系统的风险不断累积和放大,最终导致金融系统的崩溃。保持虚拟经济与实体经济的适当比例,加快金融体系的建设和完善,合理界定市场与政府的边界,是我们面临的重要任务。     

Indonesia After the Asian Crisis*

Indonesia was deeply affected by the 1997–1998 crisis, more so than its East Asian neighbors. Its economic contraction was deeper and more prolonged. It was the only one to experience a (temporary) loss of macroeconomic control. It also suffered “twin crises,” in the sense that its serious economic and financial problems were accompanied by regime collapse. Consequently, recovery was a slow and complex process, as new institutions had to be created, and old ones reformed under successive short‐lived administrations. But this process is largely over. The directly elected president with a strong popular mandate is in power. The new institutional framework for economic policy‐making is in place. Macroeconomic stability has been restored. Although growth has yet to return to pre‐crisis levels, by 2004 per capita income and poverty incidence had recovered to levels prevailing in the mid‐1990s, and in the circumstances economic recovery has arguably proceeded about as quickly as could reasonably have been expected.