Showing papers in "Quarterly Journal of Economics in 1950"
TL;DR: In this article, the nature of the problem is discussed and the bandwagon effect and the snob effect are discussed. And the Veblen effect and mixed effects are discussed as well as the conclusion of the conclusion.
Abstract: I. The nature of the problem, 183. — II. Functional and nonfunctional demand, 188. — III. The bandwagon effect, 190. — IV. The snob effect, 199. — V. The Veblen effect, 202. — VI. Mixed effects, 205. — VII. Conclusion, 206.
2,098 citations
TL;DR: The distinction between abstract space and economic analysis is discussed in this article, where three types of economic spaces are defined: monetary space, national space, and homogeneous aggregate space, respectively.
Abstract: Introduction, 89. — I. The idea of abstract space and economic analysis, 91; distinction between geonomic (banal) space and economic spaces, 92; space defined by a plan, 95; space defined as a field of forces, 95; space defined as a homogeneous aggregate, 96. — II. Some applications of the distinction between the three types of economic space, 97: monetary space, 97; national space, 99; the European economy, 102.
873 citations
TL;DR: Schumpeter's contribution to economics is discussed in detail in this article, where the authors discuss the Schumpeter school and its history in Bonn and Harvard, as well as its influence on economics.
Abstract: Introduction, 333. — I. Childhood, 1883–1901, 334. — II. University, 1901–06, 335. — III. Early academic career, 1906–18, 338. — IV. Foray into statesmanship and business, 1919–24, 344. — V. Academic life in Bonn and Harvard, 1925–50, 354. — VI. Schumpeter's contribution to economics, 360. — VII. Why is there no "Schumpeter school"? 370.
96 citations
TL;DR: The theory of consumer's choice and the constancy of economic laws are discussed in this paper, where four qualifying postulates for consumer equilibrium are discussed. But none of these postulates are considered in this paper.
Abstract: Introduction, 125. — I. The theory of consumer's choice, 126. — II. Four qualifying postulates, 128. — III. The constancy of economic laws, 133. — IV. Determinateness of consumer equilibrium, 134. — V. Conclusion, 138.
67 citations
63 citations
TL;DR: In this paper, the relationship between short period normal and long period normal equilibrium was investigated and the various orders of change were discussed. But the relationship was not discussed in this paper.
Abstract: I. The various orders of change, 496. — II. Normal equilibrium with reference to short periods, 499. — III. Normal equilibrium with reference to long periods, 507. — IV. The relationship between short period normal and long period normal equilibrium, 519.
61 citations
TL;DR: In this paper, the authors introduce the Productivity and the Wage Structure, and the Variation in the Wage structure, and conclude that the Statistical Evidence, 1923-1940, 295.
Abstract: I. Introduction, 282. — II. Productivity and the Wage Structure, 282. — III. Unionism and Earnings, 285. — IV. Variation in the Wage Structure, 290. — V. The Statistical Evidence, 1923–1940, 295. — VI. Conclusion, 305.
49 citations
TL;DR: The Preobrazhenski dilemma as discussed by the authors is a classic example of such a dilemma, and the solution to it has been studied extensively in the last few decades, e.g. in the literature.
Abstract: I. Introduction, 57. — II. The "goods famine," 59; the disparity between supply and demand, 59; the peasants' "freedom of choice," 61. — III. The tempo of industrialization: long-range arguments, 62; overpopulation, 63; the technological factor, 65; the "chain connection," 67. — IV. The law of "primitive socialist accumulation," 68; the formulation of the law, 68; the "socialist protectionism," 70; taxation by price, 72. — V. The debate, 75. — VI. The solution of the Preobrazhenski dilemma, 80.
40 citations
34 citations
TL;DR: In this paper, a social theory in Schumpeterian terms is presented, and a business cycle is described in terms of the "directing forces" of the business cycle.
Abstract: I. A social theory in Schumpeterian terms, 611. — II. Objections to the claim of similarity of vision, 612. — III. Invention versus innovation, 614. — IV. The "directing forces," 616. — V. Description of the business cycle, 621.
28 citations
TL;DR: In this article, the original level of earnings, the degree of organization, and the change in employment are discussed, along with other influences on the inter-industry wage structure.
Abstract: I. Introduction, 254. — II. Recent research on the interindustry wage structure, 255. — III. The original level of earnings, 257. — IV. Degree of organization, 266. — V. Changes in employment, 269. — VI. Other influences, 277. — VII. Conclusions, 278.
TL;DR: In this paper, the authors discuss the religious heritage of the business elite and the geographical and social backgrounds of the elite, including national and racial origins, and conclude, " Conclusion, 253.
Abstract: I. Introduction, 242. — II. National and racial origins, 244. — III. Religious heritage of the business elite, 246. — IV. Geographical and social backgrounds, 249. — Conclusion, 253.
TL;DR: In this paper, the authors describe the principal revolutions of the 20th century in economics: general appraisal, general appraisal and principal revolutions, 4. The measurability and comparability of utility, 5.
Abstract: I. Introduction, 1. — II. General appraisal, 2. — III. The principal revolutions, 4. — IV. The measurability and comparability of utility, 5, — V. The assault on "pure" competition, 7. — VI. The Keynesian revolution, 10.
TL;DR: In this paper, the authors proposed a framework for full employment and economic and political institutions to prevent unemployment and to stabilize international trade, including Harmonization of foreign trade targets and the stabilization of international investment.
Abstract: I. Deficiency of "effective demand" as cause of unemployment, 385. — II. Full employment and inflation, 388. — III. Full employment and economic and political institutions, 392. — IV. Domestic measures to prevent unemployment, 393. — V. International disequilibrium, 396. — VI. Harmonization of foreign trade targets, 400. — VII. Stabilization of international investment, 401. — VIII. Stabilization of international trade, 404. — IX. Final comments, 407.
TL;DR: The National Bureau and Measuring Business Cycles as discussed by the authors was the first publication of a survey of business cycles, focusing on policy, ideology, and theory in the early 20th century.
Abstract: Introduction, 139. — I. The formative period, 140. — II. Views on policy, ideology, and theory, 142. — III. Business Cycles, 1913, 146. — IV. The National Bureau and Measuring Business Cycles, 151.
TL;DR: In this article, the authors discuss the neutrality of means, individual choice, personal comparison, and the criterion for an "improvement", and conclude that individual choice is the value of individual choice.
Abstract: Introduction, 583. — I. The neutrality of means, 585. — II. The value of individual choice, 588. — III. Interpersonal comparisons, 591. — IV. The criterion for an "improvement," 593. — V. Conclusions, 594.
TL;DR: The role of money supply in economic growth and contraction is discussed in this article, with a focus on the role of monetary expansion and contraction in business-fluctuation theory and its effect on economic growth.
Abstract: Introduction: Status of contemporary business-fluctuation theory, 525. — I. Role of the money supply: Hansen's view and mine, 527. — II. Statistical series and their turning points, 532. — III. Forces producing monetary expansion and contraction, 535. — IV. Federal Reserve operations and business fluctuations, 540. — V. Routes of impact of monetary pressure, 548.
TL;DR: In this article, the authors discuss the impact of wheat prices on United States agricultural conservation policy and commercial policy and conclude that the United States commercial policy has a negative effect on wheat prices.
Abstract: I. Introduction, 442. — II. Effect on wheat prices, 445. — III. Effect on the allocation of resources, 454. — IV. Cost to the United States government, 457. — V. Impact on United States agricultural conservation policy, 458. — VI. Relation to United States commercial policy, 461. — VII. Conclusion, 462.
TL;DR: In this article, the authors present a survey of books and pamphlets, reviews and review articles, 381, and reviews and reviews articles, 375, for the first time.
Abstract: I. Books and pamphlets, 373. — II. Articles, 375. — III. Book reviews and review articles, 381.
TL;DR: In this paper, the International Equilibrium with Flexible Exchange (IFE) was proposed and the final equilibrium with flexible exchanges (FE) and dynamic interactions was established, and conditions determining whether incomes will be greater with or without flexible exchanges were given.
Abstract: I. Introduction, 559. — II. International equilibrium with flexible exchanges, 560. — III. Purchasing power parity reformulated, 566. — IV. Dynamic interactions, 569; the final equilibrium, 572. — V. Conditions determining which income will be greater, 576. — VI. Conditions determining whether incomes will be greater with or without flexible exchanges, 577. — VII. Conclusions, 579. — Appendix, 580.
TL;DR: In this paper, the authors propose methods of achieving balance with the dollar area and the attainment of external equilibrium, and conclude that unification and economic unification are the main obstacles to achieving external equilibrium.
Abstract: Introduction, 159. —I. External economic objectives and unification, 160. — II. Methods of achieving balance with the dollar area, 162. — III. Economic unification and the attainment of external equilibrium, 168. — IV. Conclusion, 181.