AEAweb: JEP: Contents: Winter 2000


 

Journal of Economic Perspectives
Vol. 14, No. 1, Winter 2000

Contents

Reflections on Economics at the Turn of the Millennium
Alan B. Krueger, J. Bradford De Long and Timothy Taylor      3-5

The Worldwide Standard of Living since 1800
Richard A. Easterlin      7-26

What the Change of System from Socialism to Capitalism Does and Does Not Mean
Janos Kornai      27-42

Antitrust Policy: A Century of Economic and Legal Thinking
William E. Kovacic and Carl Shapiro      43-60

American Government Finance in the Long Run: 1790 to 1990
John Joseph Wallis      61-82

The Triumph of Monetarism?
J. Bradford De Long      83-94

The Neoclassical Advent: American Economics at the Dawn of the 20th Century
Joseph Persky      95-108

Teaching Economics in the 21st Century
William E. Becker      109-119

New Millennium Economics: How Did It Get This Way, and What Way Is It?
David Colander      121-132

From Homo Economicus to Homo Sapiens
Richard H. Thaler      133-141

The Future of Microeconomic Theory
Beth Allen      143-150

Toward a Macroeconomics of the Medium Run
Robert M. Solow      151-158

Some Macroeconomics for the 21st Century
Robert E. Lucas, Jr.      159-168

Can America Stay on Top?
Paul Krugman      169-175

How Far Will International Economic Integration Go?
Dani Rodrik      177-186

Anti-Poverty Policy for Families in the Next Century: From Welfare to Work--and Worries
David T. Ellwood      187-198

Environmental Problems and Policy: 2000-2050
Paul R. Portney      199-206

Worker Protection Policies in the New Century
Bernard E. Anderson      207-214

Features:
Recommendations for Further Reading      215-222
Correspondence      223-228
Notes       229-232


Reflections on Economics at the Turn of the Millennium
Alan B. Krueger, J. Bradford De Long and Timothy Taylor

No abstract available.

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The Worldwide Standard of Living since 1800
Richard A. Easterlin

By many measures a revolution in living conditions is sweeping the world. Most people today are better fed, clothed, and house than their predecessors two centuries ago. They are healthier, live longer, and are better educated. Women's lives are less centered on reproduction, and political democracy has gained a foothold. Current international differences in a number of standard of living indicators are significantly correlated. Historically, however, these improvements often started at quite different times, suggesting that the determinants of change in different aspects of the standard of living are varied.

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What the Change of System from Socialism to Capitalism Does and Does Not Mean
Janos Kornai

No abstract available.

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Antitrust Policy: A Century of Economic and Legal Thinking
William E. Kovacic and Carl Shapiro

No abstract available.

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American Government Finance in the Long Run: 1790 to 1990
John Joseph Wallis

Government in America has gone through three distinct fiscal systems in the last two hundred years. Each system utilized a dominant revenue source, and had a distinctly active level of government. The changing structure of government by level seems to be related to changing revenue structures. When new taxes become important, the relative importance of each level of government changes. On the other hand, growth in the overall size of government is not directly related to the structure of revenues or the distribution of activity by level of government. Government growth is the result of long term commitments to provide education, transportation, social welfare services, old age security, and military forces.

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The Triumph of Monetarism?
J. Bradford De Long

No abstract available.

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The Neoclassical Advent: American Economics at the Dawn of the 20th Century
Joseph Persky

No abstract available.

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Teaching Economics in the 21st Century
William E. Becker

The desire to reverse a downward trend in the number of undergraduates majoring in economics is an impetus to advance the scholarship of teaching economics as we enter the 21st century. This article offers suggestions for changing the concepts taught and the applications used in college and university economics courses within the United States. It provides practical methods to improve the way economics is taught. The assessment of students and the evaluation of pedagogical practices are also addressed.

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New Millennium Economics: How Did It Get This Way, and What Way Is It?
David Colander

This paper is a discussion of the changes in the economics profession that occurred (or at least are suggested will occur) between 2000 and 2050. Structural changes include the growth of virtual universities, the movement of the center of economics out of the U.S. and the shrinking of traditional graduate economics programs as we know them today, and their replacement by public policy and specialty programs. Changes in content include an increase in simulation work, experimental work, and the replacement of a neoclassical vision with a New Millennium vision based on a complexity foundation in which patterns develop spontaneously.

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From Homo Economicus to Homo Sapiens
Richard H. Thaler

In responding to a request for predictions about the future of economics, I predict that Homo Economicus will evolve into Homo Sapiens, or, more simply put, economics will become more related to human behavior. My specific predictions are that Homo Economicus will start to lose IQ, will become a slower learner, will start interacting with other species, and that economists will start to study human cognition, human emotion, and will distinguish more clearly between normative and descriptive theories.

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The Future of Microeconomic Theory
Beth Allen

The question of what constitutes good economic theory is analyzed. Current good and bad aspects of its methodologies are discussed. Interdisciplinary work that goes beyond the social sciences is advocated. The future predictions are presented concerning research in game theory and the economics of information. Finally, the importance of technology and the need for microeconomists to understand it better are argued.

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Toward a Macroeconomics of the Medium Run
Robert M. Solow

No abstract available.

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Some Macroeconomics for the 21st Century
Robert E. Lucas, Jr.

This note describes a numerical simulation of a model of economic growth, a simplified version of Robert Tamura's (1996) model of world income dynamics, based on technology diffusion. The model makes predictions for trends in average world income growth and about the evolution of the relative income distribution that accord well with observation. The model is used to forecast the course of world income growth and income inequality over the century to come.

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Can America Stay on Top?
Paul Krugman

No abstract available.

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How Far Will International Economic Integration Go?
Dani Rodrik

This article speculates about the future of the world economy 100 years from now. It argues that the spread of markets is restricted by the reach of jurisdictional boundaries, and that national sovereignty imposes serious constraints on international economic integration. The political trilemma of the world economy is that international economic integration, the nation-state, and mass politics cannot co-exist. We have to pick two out of three. The article predicts that it will be the nation-state system that disappears, with global federalism taking its place.

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Anti-Poverty Policy for Families in the Next Century: From Welfare to Work--and Worries
David T. Ellwood

This paper reveals that recent changes in social policy have included both sharp cutbacks in welfare for non-working families and dramatic increases in supports for low income working families. It explores the reasons for these changes, and documents how they have radically changed work incentives for some persons, notable single mothers. The result has been a large increase in work by low wage single parents. The paper concludes by examining several potential dangers of this new direction and explores the challenges that remain for the next century.

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Environmental Problems and Policy: 2000-2050
Paul R. Portney

The next 50 years will see more use of market-based tools for environmental protection. Regulatory authorities everywhere will require polluters to report emissions. Authority will leak away from national governments; some will be devolved to lower levels of government, but some will be lost to international bodies. Environmental conditions will continue to improve steadily in developed countries. The developing countries will be less fortunate; at least until rising incomes provide the impetus for stricter standards. Some losses will be irreversible, as with species that are extinguished.

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Worker Protection Policies in the New Century
Bernard E. Anderson

No abstract available.

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Features (view in pdf format):
Recommendations for Further Reading (AEA members only)
Correspondence  (AEA members only)
Notes    


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