Elizabeth Popp Berman
- Published in print:
- 2012
- Published Online:
- October 2017
- ISBN:
- 9780691147086
- eISBN:
- 9781400840472
- Item type:
- book
- Publisher:
- Princeton University Press
- DOI:
- 10.23943/princeton/9780691147086.001.0001
- Subject:
- Education, Higher Education
American universities today serve as economic engines, performing the scientific research that will create new industries, drive economic growth, and keep the United States globally competitive. But ...
More
American universities today serve as economic engines, performing the scientific research that will create new industries, drive economic growth, and keep the United States globally competitive. But only a few decades ago, these same universities self-consciously held themselves apart from the world of commerce. This is the first book to systematically examine why academic science made such a dramatic move toward the market. Drawing on extensive historical research, the book shows how the government—influenced by the argument that innovation drives the economy—brought about this transformation. Americans have a long tradition of making heroes out of their inventors. But before the 1960s and 1970s neither policymakers nor economists paid much attention to the critical economic role played by innovation. However, during the late 1970s, a confluence of events—industry concern with the perceived deterioration of innovation in the United States, a growing body of economic research on innovation's importance, and the stagnation of the larger economy—led to a broad political interest in fostering invention. The policy decisions shaped by this change were diverse, influencing arenas from patents and taxes to pensions and science policy, and encouraged practices that would focus specifically on the economic value of academic science. By the early 1980s, universities were nurturing the rapid growth of areas such as biotech entrepreneurship, patenting, and university–industry research centers. Contributing to debates about the relationship between universities, government, and industry, the book sheds light on how knowledge and politics intersect to structure the economy.Less
American universities today serve as economic engines, performing the scientific research that will create new industries, drive economic growth, and keep the United States globally competitive. But only a few decades ago, these same universities self-consciously held themselves apart from the world of commerce. This is the first book to systematically examine why academic science made such a dramatic move toward the market. Drawing on extensive historical research, the book shows how the government—influenced by the argument that innovation drives the economy—brought about this transformation. Americans have a long tradition of making heroes out of their inventors. But before the 1960s and 1970s neither policymakers nor economists paid much attention to the critical economic role played by innovation. However, during the late 1970s, a confluence of events—industry concern with the perceived deterioration of innovation in the United States, a growing body of economic research on innovation's importance, and the stagnation of the larger economy—led to a broad political interest in fostering invention. The policy decisions shaped by this change were diverse, influencing arenas from patents and taxes to pensions and science policy, and encouraged practices that would focus specifically on the economic value of academic science. By the early 1980s, universities were nurturing the rapid growth of areas such as biotech entrepreneurship, patenting, and university–industry research centers. Contributing to debates about the relationship between universities, government, and industry, the book sheds light on how knowledge and politics intersect to structure the economy.
Masahiko Aoki
- Published in print:
- 1994
- Published Online:
- October 2011
- ISBN:
- 9780198288152
- eISBN:
- 9780191684579
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198288152.003.0002
- Subject:
- Economics and Finance, South and East Asia
This chapter surveys recent achievements of the economic research programme on the Japanese firm and sets its possible research agenda. The chapter makes a clear manifestation of the ‘systematic ...
More
This chapter surveys recent achievements of the economic research programme on the Japanese firm and sets its possible research agenda. The chapter makes a clear manifestation of the ‘systematic awareness’. Instead of merely listing major works on various attributes of the Japanese firm — such as employment systems, internal co-ordination, subcontracting relationships, main bank relationships, corporate governance — in parallel, the chapter attempts to identify their possible mutual dependencies and tries to relate and arrange contributions from different sub-fields of economics from a systematic perspective. Also, the chapter recognizes the roles of institutions, such as norms, regulations, and the organizations of exclusive membership, that support the reciprocal interactions of agents as equilibrium behaviour. In this regard, the chapter may be regarded as presenting an economist's attempt to bridge a gap between the traditional economic approach and other disciplines (such as sociology, political science, law).Less
This chapter surveys recent achievements of the economic research programme on the Japanese firm and sets its possible research agenda. The chapter makes a clear manifestation of the ‘systematic awareness’. Instead of merely listing major works on various attributes of the Japanese firm — such as employment systems, internal co-ordination, subcontracting relationships, main bank relationships, corporate governance — in parallel, the chapter attempts to identify their possible mutual dependencies and tries to relate and arrange contributions from different sub-fields of economics from a systematic perspective. Also, the chapter recognizes the roles of institutions, such as norms, regulations, and the organizations of exclusive membership, that support the reciprocal interactions of agents as equilibrium behaviour. In this regard, the chapter may be regarded as presenting an economist's attempt to bridge a gap between the traditional economic approach and other disciplines (such as sociology, political science, law).
Robert William Fogel, Enid M. Fogel, Mark Guglielmo, and Nathaniel Grotte
- Published in print:
- 2013
- Published Online:
- January 2014
- ISBN:
- 9780226256610
- eISBN:
- 9780226020723
- Item type:
- book
- Publisher:
- University of Chicago Press
- DOI:
- 10.7208/chicago/9780226020723.001.0001
- Subject:
- Economics and Finance, History of Economic Thought
We take for granted today that the assessments, measurements, and forecasts of economists are crucial to the decision-making of governments and businesses alike. But less than a century ago that ...
More
We take for granted today that the assessments, measurements, and forecasts of economists are crucial to the decision-making of governments and businesses alike. But less than a century ago that wasn't the case—economists simply did not have the necessary information or statistical tools to understand the ever more complicated modern economy. This book tells the story of economist Simon Kuznets, the founding of the National Bureau of Economic Research, and the creation of the concept of GNP, which for the first time enabled us to measure the performance of entire economies. The book weaves together the many strands of political and economic thought and historical pressures that together created the demand for more detailed economic thinking—Progressive-era hopes for activist government, the production demands of World War I, Herbert Hoover's interest in business cycles as President Harding's commerce secretary, and the catastrophic economic failures of the Great Depression—and shows how, through trial and error, measurement and analysis, economists such as Kuznets rose to the occasion and in the process built a discipline whose knowledge could be put to practical use in everyday decision-making.Less
We take for granted today that the assessments, measurements, and forecasts of economists are crucial to the decision-making of governments and businesses alike. But less than a century ago that wasn't the case—economists simply did not have the necessary information or statistical tools to understand the ever more complicated modern economy. This book tells the story of economist Simon Kuznets, the founding of the National Bureau of Economic Research, and the creation of the concept of GNP, which for the first time enabled us to measure the performance of entire economies. The book weaves together the many strands of political and economic thought and historical pressures that together created the demand for more detailed economic thinking—Progressive-era hopes for activist government, the production demands of World War I, Herbert Hoover's interest in business cycles as President Harding's commerce secretary, and the catastrophic economic failures of the Great Depression—and shows how, through trial and error, measurement and analysis, economists such as Kuznets rose to the occasion and in the process built a discipline whose knowledge could be put to practical use in everyday decision-making.
Karen Pfeifer
- Published in print:
- 2016
- Published Online:
- September 2017
- ISBN:
- 9781479827787
- eISBN:
- 9781479850662
- Item type:
- chapter
- Publisher:
- NYU Press
- DOI:
- 10.18574/nyu/9781479827787.003.0004
- Subject:
- Sociology, Race and Ethnicity
This chapter first reviews the reasons for the weak links between the fields of economics and Middle East studies (MES) in the United States. It then examines the growth of the economics profession ...
More
This chapter first reviews the reasons for the weak links between the fields of economics and Middle East studies (MES) in the United States. It then examines the growth of the economics profession and its work in the Middle East and the shaping of this work by international and regional organizations, especially the Middle East Economic Association and the Economic Research Forum for the Arab World, Turkey, and Iran. It concludes by considering the contested boundaries between economics and MES and how the political uprisings of 2011 were both affected by and affect the work of economists in the region, as painful economic reality and the contest of economic ideas quietly underlay the louder and more dramatic political turmoil of 2011–13.Less
This chapter first reviews the reasons for the weak links between the fields of economics and Middle East studies (MES) in the United States. It then examines the growth of the economics profession and its work in the Middle East and the shaping of this work by international and regional organizations, especially the Middle East Economic Association and the Economic Research Forum for the Arab World, Turkey, and Iran. It concludes by considering the contested boundaries between economics and MES and how the political uprisings of 2011 were both affected by and affect the work of economists in the region, as painful economic reality and the contest of economic ideas quietly underlay the louder and more dramatic political turmoil of 2011–13.
Tariq Banuri and Juliet B. Schor (eds)
- Published in print:
- 1992
- Published Online:
- October 2011
- ISBN:
- 9780198283645
- eISBN:
- 9780191684463
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198283645.001.0001
- Subject:
- Economics and Finance, Development, Growth, and Environmental
WIDER (The World Institute for Development Economics Research), established in 1984, started work in Helsinki in 1985, with the financial support of the Government of Finland. Its principal purpose ...
More
WIDER (The World Institute for Development Economics Research), established in 1984, started work in Helsinki in 1985, with the financial support of the Government of Finland. Its principal purpose is to help identify and meet the need for policy-oriented socio-economic research on pressing global and developmental problems and their inter-relationships. WIDER's research projects are grouped into three main themes: hunger and poverty; money, finance, and trade; and development and technological transformation. The 1980s ushered in a ‘globalization’ of finance, and governments began rejecting the task of engaging in international financial management. A new doctrine — global neoclassicism — arose, based on the idea that government regulation of financial markets was futile and foolish. The book tackles the question of whether national policy autonomy is still possible, in the process challenging the new orthodoxy, and the dangers attendant upon deregulation. The chapters explore the ‘political economy’ of financial openness, and the political nature of recent developments such as the ascendency of private financial interests and a reduced role for government regulation. The book includes both general historical and theoretical approaches, as well as case studies of various countries, such as Australia, Mexico, and Pakistan.Less
WIDER (The World Institute for Development Economics Research), established in 1984, started work in Helsinki in 1985, with the financial support of the Government of Finland. Its principal purpose is to help identify and meet the need for policy-oriented socio-economic research on pressing global and developmental problems and their inter-relationships. WIDER's research projects are grouped into three main themes: hunger and poverty; money, finance, and trade; and development and technological transformation. The 1980s ushered in a ‘globalization’ of finance, and governments began rejecting the task of engaging in international financial management. A new doctrine — global neoclassicism — arose, based on the idea that government regulation of financial markets was futile and foolish. The book tackles the question of whether national policy autonomy is still possible, in the process challenging the new orthodoxy, and the dangers attendant upon deregulation. The chapters explore the ‘political economy’ of financial openness, and the political nature of recent developments such as the ascendency of private financial interests and a reduced role for government regulation. The book includes both general historical and theoretical approaches, as well as case studies of various countries, such as Australia, Mexico, and Pakistan.
Robert William Fogel, Enid M. Fogel, Mark Guglielmo, and Nathaniel Grotte
- Published in print:
- 2013
- Published Online:
- January 2014
- ISBN:
- 9780226256610
- eISBN:
- 9780226020723
- Item type:
- chapter
- Publisher:
- University of Chicago Press
- DOI:
- 10.7208/chicago/9780226020723.003.0003
- Subject:
- Economics and Finance, History of Economic Thought
This chapter discusses the history of the National Bureau of Economic Research (NBER). It covers the prewar origins of the NBER; the role (and limitations) of economists during World War I; and the ...
More
This chapter discusses the history of the National Bureau of Economic Research (NBER). It covers the prewar origins of the NBER; the role (and limitations) of economists during World War I; and the founding of the NBER in 1920.Less
This chapter discusses the history of the National Bureau of Economic Research (NBER). It covers the prewar origins of the NBER; the role (and limitations) of economists during World War I; and the founding of the NBER in 1920.
Harry Blutstein
- Published in print:
- 2015
- Published Online:
- May 2016
- ISBN:
- 9781784992897
- eISBN:
- 9781526104311
- Item type:
- chapter
- Publisher:
- Manchester University Press
- DOI:
- 10.7228/manchester/9781784992897.003.0005
- Subject:
- Political Science, Democratization
At the same time as Keynes was celebrating success at Bretton Woods, neoliberal economist Friedrich Hayek started to publicly campaign against the liberal economic order, in what he called the ‘war ...
More
At the same time as Keynes was celebrating success at Bretton Woods, neoliberal economist Friedrich Hayek started to publicly campaign against the liberal economic order, in what he called the ‘war of ideas.’ He fired the first shots in this war with the publication of The Road to Serfdom, and then established the Mont Pèlerin Society, where he hoped to rally fighters for his war. He turned out to be a poor field general and it looked like the war might be over before it started. Hayek, however, did inspire a young fighter pilot, Antony Fisher, who did have fire in his belly and was keen to face grapeshot in the war of ideas. In 1956, Fisher established the Institute of Economic Affairs (IEA). This think tank, together with others modelled on the IEA, helped spread pro-market ideas. The high point of their campaign came when Margaret Thatcher and Ronald Reagan were elected, establishing neoliberalism as the new economic orthodoxy. In 1980, Hayek advised Fisher that he needed to seed the world with neoliberal think tanks. The result was the Atlas Economic Research Foundation, which networks over 400 think tanks worldwide and they have helped spread the war of ideas.Less
At the same time as Keynes was celebrating success at Bretton Woods, neoliberal economist Friedrich Hayek started to publicly campaign against the liberal economic order, in what he called the ‘war of ideas.’ He fired the first shots in this war with the publication of The Road to Serfdom, and then established the Mont Pèlerin Society, where he hoped to rally fighters for his war. He turned out to be a poor field general and it looked like the war might be over before it started. Hayek, however, did inspire a young fighter pilot, Antony Fisher, who did have fire in his belly and was keen to face grapeshot in the war of ideas. In 1956, Fisher established the Institute of Economic Affairs (IEA). This think tank, together with others modelled on the IEA, helped spread pro-market ideas. The high point of their campaign came when Margaret Thatcher and Ronald Reagan were elected, establishing neoliberalism as the new economic orthodoxy. In 1980, Hayek advised Fisher that he needed to seed the world with neoliberal think tanks. The result was the Atlas Economic Research Foundation, which networks over 400 think tanks worldwide and they have helped spread the war of ideas.
- Published in print:
- 2011
- Published Online:
- June 2013
- ISBN:
- 9780804762526
- eISBN:
- 9780804777599
- Item type:
- chapter
- Publisher:
- Stanford University Press
- DOI:
- 10.11126/stanford/9780804762526.003.0001
- Subject:
- Economics and Finance, Econometrics
Crime economic research seeks to understand why crime occurs and what mechanism can reduce its incidence or its consequences. This chapter gives a focused review of economic literature relating to ...
More
Crime economic research seeks to understand why crime occurs and what mechanism can reduce its incidence or its consequences. This chapter gives a focused review of economic literature relating to criminal behavior. It provides a background on crime economic research and the theoretical and empirical advances that have been made in this discipline. It describes the economic model of crime and its theoretical variants. Gary S. Becker's economic model of crime, for example, offers insights about criminal behavior and the factors that influence criminal activities. The chapter also examines how economists have approached the empirical testing of specific hypotheses implied by the economic model of crime and its variants and summarizes what researchers have found after nearly forty years of studies.Less
Crime economic research seeks to understand why crime occurs and what mechanism can reduce its incidence or its consequences. This chapter gives a focused review of economic literature relating to criminal behavior. It provides a background on crime economic research and the theoretical and empirical advances that have been made in this discipline. It describes the economic model of crime and its theoretical variants. Gary S. Becker's economic model of crime, for example, offers insights about criminal behavior and the factors that influence criminal activities. The chapter also examines how economists have approached the empirical testing of specific hypotheses implied by the economic model of crime and its variants and summarizes what researchers have found after nearly forty years of studies.
Peter Murray and Maria Feeney
- Published in print:
- 2016
- Published Online:
- May 2017
- ISBN:
- 9781526100788
- eISBN:
- 9781526120823
- Item type:
- chapter
- Publisher:
- Manchester University Press
- DOI:
- 10.7228/manchester/9781526100788.003.0004
- Subject:
- History, Social History
This chapter broadens out the focus from Irish sociology to examine Irish scientific research. Its central theme is the way in which resources provided or jointly controlled by US actors underpinned ...
More
This chapter broadens out the focus from Irish sociology to examine Irish scientific research. Its central theme is the way in which resources provided or jointly controlled by US actors underpinned the development of a modern scientific research infrastructure within the state in the period after the Second World War. The scientific fields principally affected by these financial injections were applied research related to agriculture, industry and economics. Money flowed into these fields from two major sources: the Grant Counterpart Fund, which was a legacy of Ireland’s participation in the Marshall Plan, and private US foundations. In other fields, such as management and `human sciences’, significant resource transfers took place in kind as much as in cash through productivity and technical assistance programmes. The infrastructure developments that clustered in the late 1950s and the early 1960s interacted with older scientific institutional configurations laid down under the Union with Britain and subjected to emaciating neglect after the advent of political independence.Less
This chapter broadens out the focus from Irish sociology to examine Irish scientific research. Its central theme is the way in which resources provided or jointly controlled by US actors underpinned the development of a modern scientific research infrastructure within the state in the period after the Second World War. The scientific fields principally affected by these financial injections were applied research related to agriculture, industry and economics. Money flowed into these fields from two major sources: the Grant Counterpart Fund, which was a legacy of Ireland’s participation in the Marshall Plan, and private US foundations. In other fields, such as management and `human sciences’, significant resource transfers took place in kind as much as in cash through productivity and technical assistance programmes. The infrastructure developments that clustered in the late 1950s and the early 1960s interacted with older scientific institutional configurations laid down under the Union with Britain and subjected to emaciating neglect after the advent of political independence.
Kenneth Snowden
- Published in print:
- 2014
- Published Online:
- January 2015
- ISBN:
- 9780226073842
- eISBN:
- 9780226093284
- Item type:
- chapter
- Publisher:
- University of Chicago Press
- DOI:
- 10.7208/chicago/9780226093284.003.0002
- Subject:
- Economics and Finance, Economic History
As the U.S. grew rapidly and urbanized between 1870 and 1930, nonfarm residential construction and home mortgage debt became increasingly important to the nation’s capital formation, financial ...
More
As the U.S. grew rapidly and urbanized between 1870 and 1930, nonfarm residential construction and home mortgage debt became increasingly important to the nation’s capital formation, financial structure, and short-run aggregate performance. However, during this period, both activities remained highly localized, institutionally diverse, and unevenly regulated activities. This all changed during the Great Depression when the Federal Government responded to the worst housing and mortgage crisis in the nation’s history with a five-year burst of regulatory initiatives. The NBER played a central role in the academic discussion of residential construction and mortgage finance that blossomed over the next quarter century. Between 1935 and 1960, the Bureau sponsored six distinct research programs that produced thirteen major monographs examining the performance and transformation of the housing and mortgage markets. When viewed collectively, these works provide a broad and deep analysis of residential construction and financing before World War I, through the boom and bust of the interwar years, and during a remarkable post-World War II expansion.Less
As the U.S. grew rapidly and urbanized between 1870 and 1930, nonfarm residential construction and home mortgage debt became increasingly important to the nation’s capital formation, financial structure, and short-run aggregate performance. However, during this period, both activities remained highly localized, institutionally diverse, and unevenly regulated activities. This all changed during the Great Depression when the Federal Government responded to the worst housing and mortgage crisis in the nation’s history with a five-year burst of regulatory initiatives. The NBER played a central role in the academic discussion of residential construction and mortgage finance that blossomed over the next quarter century. Between 1935 and 1960, the Bureau sponsored six distinct research programs that produced thirteen major monographs examining the performance and transformation of the housing and mortgage markets. When viewed collectively, these works provide a broad and deep analysis of residential construction and financing before World War I, through the boom and bust of the interwar years, and during a remarkable post-World War II expansion.
Neil Fligstein
- Published in print:
- 2015
- Published Online:
- December 2015
- ISBN:
- 9780198748465
- eISBN:
- 9780191814051
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198748465.003.0013
- Subject:
- Business and Management, Innovation
From the beginning, economic sociology resembled a social movement where participants agreed to a broad definition of the field to attract the widest number of scholars. Many of the research programs ...
More
From the beginning, economic sociology resembled a social movement where participants agreed to a broad definition of the field to attract the widest number of scholars. Many of the research programs that grew up under this umbrella are now quite mature. Some recent work by Dan Wang maps out how scholars teach economic sociology. He shows that these research programs form a kind of set of canonical works, but, having said this, most do not actively try and take other programs into account. This leads to the argument that to re-imagine economic sociology we must do so against what already exists. Real progress can be made when scholars work at the interstices between research programs and apply what is already known in one context to new contexts. Without such cross fertilization, the field is likely to never be much more than a set of faddish projects.Less
From the beginning, economic sociology resembled a social movement where participants agreed to a broad definition of the field to attract the widest number of scholars. Many of the research programs that grew up under this umbrella are now quite mature. Some recent work by Dan Wang maps out how scholars teach economic sociology. He shows that these research programs form a kind of set of canonical works, but, having said this, most do not actively try and take other programs into account. This leads to the argument that to re-imagine economic sociology we must do so against what already exists. Real progress can be made when scholars work at the interstices between research programs and apply what is already known in one context to new contexts. Without such cross fertilization, the field is likely to never be much more than a set of faddish projects.
Casey B. Mulligan
- Published in print:
- 2014
- Published Online:
- November 2015
- ISBN:
- 9780231160155
- eISBN:
- 9780231504324
- Item type:
- chapter
- Publisher:
- Columbia University Press
- DOI:
- 10.7312/columbia/9780231160155.003.0025
- Subject:
- Economics and Finance, Public and Welfare
This chapter presents Casey B. Mulligan’s response to Robert Barbera’s commentary entitled “If It Were a Fight, They Would Have Stopped It in December of 2008” in Chapter 24. Mulligan claims that ...
More
This chapter presents Casey B. Mulligan’s response to Robert Barbera’s commentary entitled “If It Were a Fight, They Would Have Stopped It in December of 2008” in Chapter 24. Mulligan claims that Barbera appears to disagree with his article and to deeply dislike modern macroeconomics. Barbera’s view is not based on a reading of the academic literature that is being debated, nor even a balanced examination of his own portfolio of economic research and forecasting but, rather, on just two observations: (1) that Mulligan and some of the other modern macroeconomists do not think that an interruption of activity in the banking sector (where Mr. Barbera works) is all that critical to the rest of the economy, and (2) that Mulligan made one incorrect forecast in October 2008.Less
This chapter presents Casey B. Mulligan’s response to Robert Barbera’s commentary entitled “If It Were a Fight, They Would Have Stopped It in December of 2008” in Chapter 24. Mulligan claims that Barbera appears to disagree with his article and to deeply dislike modern macroeconomics. Barbera’s view is not based on a reading of the academic literature that is being debated, nor even a balanced examination of his own portfolio of economic research and forecasting but, rather, on just two observations: (1) that Mulligan and some of the other modern macroeconomists do not think that an interruption of activity in the banking sector (where Mr. Barbera works) is all that critical to the rest of the economy, and (2) that Mulligan made one incorrect forecast in October 2008.
Robert E. Drake, Gary R. Bond, and Deborah R. Becker
- Published in print:
- 2012
- Published Online:
- January 2013
- ISBN:
- 9780199734016
- eISBN:
- 9780199949755
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199734016.003.0024
- Subject:
- Social Work, Health and Mental Health
Because of pressure to expand Individual Placement and Support (IPS) capacity from clients and other stakeholders, several economists and policy experts have reviewed the economic research on IPS in ...
More
Because of pressure to expand Individual Placement and Support (IPS) capacity from clients and other stakeholders, several economists and policy experts have reviewed the economic research on IPS in the United States and elsewhere. This chapter discusses economic issues, some related to rehabilitation services in general and others specific to IPS.Less
Because of pressure to expand Individual Placement and Support (IPS) capacity from clients and other stakeholders, several economists and policy experts have reviewed the economic research on IPS in the United States and elsewhere. This chapter discusses economic issues, some related to rehabilitation services in general and others specific to IPS.
Douglas L. Kruse, Joseph R. Blasi, and Rhokeun Park
- Published in print:
- 2010
- Published Online:
- February 2013
- ISBN:
- 9780226056951
- eISBN:
- 9780226056968
- Item type:
- chapter
- Publisher:
- University of Chicago Press
- DOI:
- 10.7208/chicago/9780226056968.003.0002
- Subject:
- Economics and Finance, Economic History
This chapter gives an account of the current forms and extend of shared capitalism in the U.S. economy and provides an overall portrait of shared capitalism using the General Social Survey (GSS) and ...
More
This chapter gives an account of the current forms and extend of shared capitalism in the U.S. economy and provides an overall portrait of shared capitalism using the General Social Survey (GSS) and National Bureau for Economic Research (NBER) data sets. Both the NBER data set and the nationally-representative GSS data set indicate that while shared capitalism exists broadly throughout the economy, it is not distributed randomly across firms and employees. One important finding is that, shared capitalism plans are more likely in larger establishments, where free riding is likely to be the highest. To counter free riding, firms may combine shared capitalism with other policies to create a cooperative culture. An examination of risk aversion in the NBER data set shows that, risk aversion is linked to lower participation in several types of plans and less positive views of shared capitalism.Less
This chapter gives an account of the current forms and extend of shared capitalism in the U.S. economy and provides an overall portrait of shared capitalism using the General Social Survey (GSS) and National Bureau for Economic Research (NBER) data sets. Both the NBER data set and the nationally-representative GSS data set indicate that while shared capitalism exists broadly throughout the economy, it is not distributed randomly across firms and employees. One important finding is that, shared capitalism plans are more likely in larger establishments, where free riding is likely to be the highest. To counter free riding, firms may combine shared capitalism with other policies to create a cooperative culture. An examination of risk aversion in the NBER data set shows that, risk aversion is linked to lower participation in several types of plans and less positive views of shared capitalism.
Ben S. Bernanke
- Published in print:
- 2014
- Published Online:
- May 2015
- ISBN:
- 9780226121338
- eISBN:
- 9780226121475
- Item type:
- chapter
- Publisher:
- University of Chicago Press
- DOI:
- 10.7208/chicago/9780226121475.003.0002
- Subject:
- Economics and Finance, Macro- and Monetary Economics
Ben Bernanke’s opening remarks reflect on the importance of measurement in economic decision-making. The ultimate purpose of economics is to promote wellbeing, and variables in economic policy making ...
More
Ben Bernanke’s opening remarks reflect on the importance of measurement in economic decision-making. The ultimate purpose of economics is to promote wellbeing, and variables in economic policy making must therefore include determinants of wellbeing, including those that go beyond aggregate statistics which can obscure individual experiences. Increasing the attention paid to microeconomic data could better capture the diversity of experience across households and firms. The measurement of life satisfaction or wellbeing as a direction for economic policy research has generated alternative measures of well-being that are frequently survey-based and incorporate elements such as psychological wellness, the level of education, physical health and safety, community vitality and the strength of family and social ties, and time spent in leisure activities.Less
Ben Bernanke’s opening remarks reflect on the importance of measurement in economic decision-making. The ultimate purpose of economics is to promote wellbeing, and variables in economic policy making must therefore include determinants of wellbeing, including those that go beyond aggregate statistics which can obscure individual experiences. Increasing the attention paid to microeconomic data could better capture the diversity of experience across households and firms. The measurement of life satisfaction or wellbeing as a direction for economic policy research has generated alternative measures of well-being that are frequently survey-based and incorporate elements such as psychological wellness, the level of education, physical health and safety, community vitality and the strength of family and social ties, and time spent in leisure activities.
Michael D. Bordo and Athanasios Orphanides
- Published in print:
- 2013
- Published Online:
- September 2013
- ISBN:
- 9780226066950
- eISBN:
- 9780226043555
- Item type:
- chapter
- Publisher:
- University of Chicago Press
- DOI:
- 10.7208/chicago/9780226043555.003.0001
- Subject:
- Economics and Finance, Macro- and Monetary Economics
This introductory chapter first discusses the dimensions of the Great Inflation from 1965 to 1982, which caused significant damage to the US economy and to the economies of many other countries, and ...
More
This introductory chapter first discusses the dimensions of the Great Inflation from 1965 to 1982, which caused significant damage to the US economy and to the economies of many other countries, and then surveys the themes that have dominated the research on the Great Inflation from the 1970s to the present. An overview of the subsequent chapters is also presented.Less
This introductory chapter first discusses the dimensions of the Great Inflation from 1965 to 1982, which caused significant damage to the US economy and to the economies of many other countries, and then surveys the themes that have dominated the research on the Great Inflation from the 1970s to the present. An overview of the subsequent chapters is also presented.
Joseph R. Blasi, Richard B. Freeman, Christopher Mackin, and Douglas L. Kruse
- Published in print:
- 2010
- Published Online:
- February 2013
- ISBN:
- 9780226056951
- eISBN:
- 9780226056968
- Item type:
- chapter
- Publisher:
- University of Chicago Press
- DOI:
- 10.7208/chicago/9780226056968.003.0005
- Subject:
- Economics and Finance, Economic History
This chapter analyzes the relationship of various forms of shared capitalist compensation to six workplace outcomes—turnover, absenteeism, perceived effort of co-workers, loyalty to the firm, ...
More
This chapter analyzes the relationship of various forms of shared capitalist compensation to six workplace outcomes—turnover, absenteeism, perceived effort of co-workers, loyalty to the firm, willingness to work hard, and frequency of worker suggestions to improve productivity from the perspective of shared capitalism. It also examines employee responses to questions about their response to shared capitalist incentives and analysis using the General Social Survey (GSS) and NBER data sets. It states that shared capitalism affects workplace performance and substantiated by the fact that the results from the NBER sample are broadly similar to the results from the nationally-representative GSS. Shared capitalism is linked to lower turnover and greater loyalty and willingness to work hard, particularly when combined with high-performance policies, low levels of supervision, and fixed pay at or above market levels. Workplaces where workers average more shared capitalist compensation report greater employee effort along several dimensions.Less
This chapter analyzes the relationship of various forms of shared capitalist compensation to six workplace outcomes—turnover, absenteeism, perceived effort of co-workers, loyalty to the firm, willingness to work hard, and frequency of worker suggestions to improve productivity from the perspective of shared capitalism. It also examines employee responses to questions about their response to shared capitalist incentives and analysis using the General Social Survey (GSS) and NBER data sets. It states that shared capitalism affects workplace performance and substantiated by the fact that the results from the NBER sample are broadly similar to the results from the nationally-representative GSS. Shared capitalism is linked to lower turnover and greater loyalty and willingness to work hard, particularly when combined with high-performance policies, low levels of supervision, and fixed pay at or above market levels. Workplaces where workers average more shared capitalist compensation report greater employee effort along several dimensions.
Karl Wärneryd
- Published in print:
- 2014
- Published Online:
- September 2014
- ISBN:
- 9780262026895
- eISBN:
- 9780262321976
- Item type:
- chapter
- Publisher:
- The MIT Press
- DOI:
- 10.7551/mitpress/9780262026895.003.0001
- Subject:
- Economics and Finance, Economic Systems
This introductory chapter sets out the book’s purpose, which is to present a wide range of economic research on conflict. It brings together a variety of approaches, from the purely game-theoretical ...
More
This introductory chapter sets out the book’s purpose, which is to present a wide range of economic research on conflict. It brings together a variety of approaches, from the purely game-theoretical to the experimental, that all have in common a rational-choice perspective on conflict—a topic that often in the past has been thought to involve the inherently irrational. It is argued that economics needs a theory of conflict because economic transactions, even when they are not outright conflicting, necessarily take place in the shadow of conflict. An overview of the subsequent chapters is also presented.Less
This introductory chapter sets out the book’s purpose, which is to present a wide range of economic research on conflict. It brings together a variety of approaches, from the purely game-theoretical to the experimental, that all have in common a rational-choice perspective on conflict—a topic that often in the past has been thought to involve the inherently irrational. It is argued that economics needs a theory of conflict because economic transactions, even when they are not outright conflicting, necessarily take place in the shadow of conflict. An overview of the subsequent chapters is also presented.
Don Fullerton and Catherine Wolfram (eds)
- Published in print:
- 2012
- Published Online:
- September 2013
- ISBN:
- 9780226269146
- eISBN:
- 9780226921983
- Item type:
- book
- Publisher:
- University of Chicago Press
- DOI:
- 10.7208/chicago/9780226921983.001.0001
- Subject:
- Political Science, Environmental Politics
Economic research on climate change has been crucial in advancing our understanding of the consequences of global warming as well as the costs and benefits of the various policies that might reduce ...
More
Economic research on climate change has been crucial in advancing our understanding of the consequences of global warming as well as the costs and benefits of the various policies that might reduce emissions of greenhouse gases. As nations work to develop climate policies, economic insights into their design and implementation are ever more important. With a balance between theoretical and empirical approaches, this book looks at the possible effects of various climate policies on a range of economic outcomes. The studies that comprise the book examine topics which include the coordination—or lack thereof—between the federal and state governments, the implications of monitoring and enforcing climate policy, and the specific consequences of various climate policies for the agricultural, automotive, and buildings sectors.Less
Economic research on climate change has been crucial in advancing our understanding of the consequences of global warming as well as the costs and benefits of the various policies that might reduce emissions of greenhouse gases. As nations work to develop climate policies, economic insights into their design and implementation are ever more important. With a balance between theoretical and empirical approaches, this book looks at the possible effects of various climate policies on a range of economic outcomes. The studies that comprise the book examine topics which include the coordination—or lack thereof—between the federal and state governments, the implications of monitoring and enforcing climate policy, and the specific consequences of various climate policies for the agricultural, automotive, and buildings sectors.
Jeffrey Liebman and David A. Wise
Jeffrey R. Brown (ed.)
- Published in print:
- 2009
- Published Online:
- February 2013
- ISBN:
- 9780226076485
- eISBN:
- 9780226076508
- Item type:
- chapter
- Publisher:
- University of Chicago Press
- DOI:
- 10.7208/chicago/9780226076508.003.0001
- Subject:
- Economics and Finance, Public and Welfare
This book compiles selected studies conducted through the National Bureau of Economic Research (NBER) Center for Retirement Research. This center was created in 2003 with funding from the U.S. Social ...
More
This book compiles selected studies conducted through the National Bureau of Economic Research (NBER) Center for Retirement Research. This center was created in 2003 with funding from the U.S. Social Security Administration and is structured to provide analysis that can inform Social Security policy. While some of the center's research focuses directly on Social Security reform, other research aims to inform Social Security policy by analyzing the changing economic environment in which future Social Security beneficiaries will live. An empirical evidence on how the default provisions of retirement saving plans impact savings behavior along multiple dimensions has been obtained. The financial footing of the Social Security system depends importantly on the longevity of program participants. In the past few decades, longevity in the United States has increased substantially, adding to the financial burden on the Social Security program.Less
This book compiles selected studies conducted through the National Bureau of Economic Research (NBER) Center for Retirement Research. This center was created in 2003 with funding from the U.S. Social Security Administration and is structured to provide analysis that can inform Social Security policy. While some of the center's research focuses directly on Social Security reform, other research aims to inform Social Security policy by analyzing the changing economic environment in which future Social Security beneficiaries will live. An empirical evidence on how the default provisions of retirement saving plans impact savings behavior along multiple dimensions has been obtained. The financial footing of the Social Security system depends importantly on the longevity of program participants. In the past few decades, longevity in the United States has increased substantially, adding to the financial burden on the Social Security program.
