Institutionalism versus Orthodoxy

A bstract . Orthodox economics has been quite effective in exploiting equilibrium methodology; equilibrium as a heuristic device, as a theoretical norm, and as a prototype of the scientific method. Also, orthodoxy has contrived the dichotomy of equilibrium-anti-equilibrium to depict institutional thought as being muddled and unscientific. Institutionalists have not successfully countered these attacks, nor have they adequately articulated a comprehensive methodological alternative to orthodoxy. Institutionalists have paid too much attention to the methodological components of institutionalism and have neglected the articulation of a guiding, overall methodology. It is proposed that institutionalists recast the methodological debate by expanding the arena from equilibrium-anti-equilibrium analysis to the broader context of closed versus open systems analysis. This would both help expose the methodological weaknesses of orthodox economics, and demonstrate the relevance and power of institutionalism for socioeconomic investigation.     

Consumer mobility and community tax bases : The financing of local public goods

In a model of economic ‘clubs’, size is fixed and members consuming a public good raise the question of composition; with whom would they rather consume? This depends on the way collective consumption is financed, and three results are proven With a poll tax, clubs must be homogeneous in income for all to be satisfied With a marginal benefit (Lindahl) tax, no consumer is ever satisfied with any composition; and with an income tax, at least one consumer in each club is always dissatisfied. Satisfaction implies there exists no club composition preferred to the existing one.     

A comparison of alternative methods of updating input-output coefficients

In recent years there has been a growing number of input-output models of economies ranging in scale from the rural to the national. While offering invaluable insights into the interaction of sectors within an economy, the input-output model suffers from the fact that its coefficient values are altered over time due particularly to technological change. Two of the prominent techniques designed to update these technical coefficients, the RAS and linear programming methods, are compared herein with regard to changes in U.S. national coefficients between 1963 and 1967. Suggestions for improvements to the latter method are outlined.     

The real action in health care

It's not taking place in the White House or Congress. The show to watch is the boisterous, free-market affair, precipitated by employers fed up with rising medical costs, and carried on by insurers and HMOs scrapping for turf.     

Crafting a public image: An empirical study of the ethics of ghostwriting

Ghostwriting is viewed by some as a necessary element for crafting an effective public image. Defenders of ghostwriting see no ethical dilemma in the practice because the audience knows the speechgiver is not necessarily the speechwriter. Alernatively, those regarding ghostwriting as unethical view the practice as deceitful. This group argues that the audience does not recognize the employment of a speechwriter and thus a speechgiver relies on the words of another to fortify personal ethos. This article examines several positions regarding the ethics of ghostwriting and discusses an empirical study testing three major positions found in ghostwriting literature. Findings from the study indicate that respondents do recognize the use of speechwriters by certain individuals in certain circumstances.Linda A. Riley is a College Associate Professor in the Department of Marketing, College of Business Administration and Economics at New Mexico State University. She also serves as the Director of the Center for Economic Development Research and Assistance in the College of Business Administration and Economics.Stuart C. Brown is Assistant Professor of Rhetoric and Professional Communication in the English Department at New Mexico State University.