Salisbury University
Perdue School of Business
Department of Economics and Finance

ECON402																					     P. LeBel
Comparative Economic Systems														     		Spring 2011
CH114 – MW9:00-10:15

Course Objectives

Microeconomic analysis explores in detail the nature of economic decisions of individual units within the overall economic system.  Combining theory with contemporary applications, it examines the nature and consequences of differing market structures in order to determine the conditions under which market pricing satisfies or fails to satisfy alternative policy criteria.  In so doing, the student acquires key analytical skills with which to assess the relative merits of contemporary policy issues.  Descriptive, geometric, and elementary quantitative methods will be used throughout the course.  Class sessions, which are based on a student's prior reading of assigned materials, require a significant degree of student participation.

A student who has completed this course is expected to demonstrate a mastery of essential concepts and analytical skills in several key areas.  The most important of these areas are:

1.	A general framework for the evaluation of comparative economic systems that includes specific policy criteria, and how these criteria relate to existing international public policy institutional standards, including, but not limited to, the World Bank, the UNDP, the IMF, and other international agencies.

2.	The role of economic and econometric models in evaluating comparative economic systems, with particular emphasis on such criteria as economic growth, risk and the choice of institutions, and how the distribution of income is addressed in alternative economic systems, with due specification of alternative distributive welfare criteria.

3.	An examination of a generic constellation of alternative economic systems ranging from pure market economics, to mixed economic systems, and to centrally planned economies under alternative varieties of socialist constitutions.

4.	A detailed examination of selected comparative systems based on individual country profiles that includes the United States, France, Germany, Poland, Hungary, Czechoslovakia, the former Yugoslavia, the former Soviet Union, India, Japan, China, and Iran, among others.  

Course Format
Descriptive, geometric, and elementary quantitative methods will be used throughout the course. Class sessions, which are based on a student's prior reading of assigned materials, require a significant degree of student participation. Extensive use will be made of the course website, located at: http://netdrive.montclair.edu/~lebelp

The student’s knowledge in each of the above areas will be tested in a mid-term and final examination, in designated student classroom presentations, a research term paper, and in periodic case studies.  A student who has successfully mastered both theory and methodological applications in these areas will be well prepared to pursue both direct career experience, as well as continuing study in Economics and/or related fields.

                                                                      Salisbury University
Perdue School of Business
Department of Economics and Finance

ECON402																				 	     P. LeBel
Comparative Economic Systems													      		        Spring 2011
CH114 – MW9:00-10:15

Syllabus

Text:	J. Barkley Roser, Jr., and Marina V. Rosser. Comparative Economics in a Transforming World Economy, 2nd edition.  (Cambridge, Mass.:  MIT Press).

Readings on Reserve:

Acharya, Shankar (2010). "Ten Myths of Indian Economic Policy," (London: Financial Times Economists Forum).
Allman, William F.(1985).,”Determining Risks with Statistics – and with Humanity,” Science 85/Baltimore Sun, October 13, 1985, p. 50.
Arrow, Kenneth J., “The Organization of Economic Activity:  Issues Pertinent to the Choice of Market versus Non-Market Activity,” in Mansfield Readings, (437-455).
Arrow, Kenneth J.(1997), “Invaluable Goods,” Journal of Economic Literature XXXV (June): 757-765.
Arrow, Kenneth J. (1998), “What Has Economics to Say About Racial Discrimination,” Journal of Economic Perspectives 12:2 (Spring): 91-100.
Atkinson, Anthony B. (1987). “On the Measurement of Poverty,” Econometrica 55:4 (July), 749-764.
Audretsch, David B. (2010),  "German Economic Policy, (Bloomington, Indiana: Indiana University Institute for Development Strategies).
Bator, Francis M. (1958). “Anatomy of Market Failure,” Quarterly Journal of Economics, 72(3): 351-379.
Bean, Jonathan (1997). "Nikolai Bukharin and the New Economic Policy – A Middle Way?" The Independent Review II(1): 1-20 
Bernouilli, Daniel (1954, 1738). “Exposition of a New Theory on the Measurement of Risk,” Econometrica 22:2 (January), 23-36.
Bernstein, Eduard (1965,1932). "Introduction", Evolutionary Socialism.  (New York:  Schocken Books).
Canales-Kriljenko, Jorge Iván, Luis I. Jácome, Ali Alichi, and Ivan Luis de Oliveira Lima (2010). "Weathering the Global Storm: The Benefits of Monetary Policy Reformin the LA5 Countries," Working Paper 292.  (Washington, D.C.: International Monetary Fund).
Chamon, Marcos, Kai Liu, and Eswar Prasad (2010). "Income Uncertainty and Household Savings Behavior in China," Working Paper 289. (Washington, D.C.: International Monetary Fund, December).
Cipriani, Marco, and Antonio Guarino (2010). "Estimating a Structural Model of Herd Behavior in Financial Markets," Working Paper 288. (Washington, D.C.: International Monetary Fund).
Coase, Ronald H (1937). “The Nature of the Firm,” Economica, New Series 4:16 (November), 386-405.
Coase, Ronald H. (1960), “The Problem of Social Cost”, Journal of Law and Economics  (October), 1-44.
Conlisk, John (1996).  “Why Bounded Rationality?”  Journal of Economic Literature XXIV:2 (June), pp. 669-700. 
Dean, Jason, Andrew Browne, and Shai Oster (2010).  "China's 'State Capitalism' Sparks a Global Backlash," The Wall Street Journal, November 16, 2010.
Dixit, Avinash, and Robert Pindyck (1994), Investment Under Uncertainty (Princeton, NJ:  Princeton University Press).
Downs, Anthony (1957). “An Economic Theory of Political Action in a Democracy,” Journal of Political Economy I, 65:2 (April), 135-150.
Friedman, Milton and Leonard J.Savage (1948). “The Utility Analysis of Choices Involving Risk,” Journal of Political Economy I 56:4 (August), 279-304).
Gaidar, Yegor (2007), "The Soviet Collapse: Grain and Oil," Issues Paper. (Washington, D.C.: American Enterprise Institute, April).
Holcombe, Randall G. (2010). "South Korea's Economic Future: Industrial Policy, or Economic Democracy," (Tampa, Florida: University of South Florida).
Holmstrom, Bengt, and John Roberts.  “The Boundaries of the Firm Revisited,” Journal of Economic Perspectives 12:4 (Fall 1998): 73-94.
Huntington, Samuel P. (1993). "The Clash of Civilizations?" Foreign Affairs 72(3): 1-22.
Ilias, Shayerah (2010). "Iran's Economic Conditions:  U.S. Policy Issues," (Washington, D.C.: Congressional Research Service Report).
Kakwani, Nanak C. (1977). “Applications of Lorenz Curves in Economic Analysis,” Econometrica 45:3 (April), 719-728.
Kolodko, Grzegorz (1993). "From Output Collapse to Sustainable Growth in Transition Economies: The Fiscal Implications," Working paper No. 35. (Warsaw, Poland:  Institute of Finance).
Kornai, János (1998). "The System Paradigm," Working Paper Number 278. (Washington, D.C.: International Monetary Fund, April).
Levy, Jonah D., Mari Miura, and Gene Park (2003). "Exiting Etatisme? New Directions in State Policy in France and Japan," workshop paper on New State Activities in the Age of Globalization.  (Berkeley, California: University of California Berkeley).
Marx, Karl, and Frederick Engels (1848). "Manifesto of the Communist Party," (Moscow: Progress Publishers, 1969, 1848).
Nanto, Dick K., and Emma Chanlett-Avery (2010). "North Korea: Economic Leverage and Analysis," (Washington, D.C.:  Congressional Research Service Report).
Pareto, Vilfredo (1897). “The New Theories of Economics,” Journal of Political Economy 5:4 (September), 485-502.
Parkinson, C. Northcote (1955). “Parkinson’s Law”, in Mansfield, Managerial Economics Readings, (63-70).
Polanyi, Karl (1944). "Societies and Economic Systems," excerpts from The Great Transformation. (New York: Rinehart Company, Inc.)
Ramsey, Frank P. (1927). “A Contribution to the Theory of Taxation,” The Economic Journal 37:145 (March), 47-61.
Rehman, Scheherazade S., and Hossein Askari (2010). "An Economic Islamicity Index," Global Economy Journal 10:3, 1-39.
Schneider, Geoffrey, and Paul Susman (2010). "Uneven Development and Grounded Comparative Institutional Advantage: Lessons from Sweden and Mondragon," Social Economics 39: 1-11.
Schumpeter, Joseph A. (1962, 1950, 1942). "The Process of Creative Destruction," chapter VII, from Capitalism, Socialism, and Democracy.  (New York:  Harper Torchbooks, 1962).
Simon, Herbert A. (1959). “Theories of Decision-Making in Economics and Behavioral Science”, American Economic Review XLIX: June: 253-283. 
Stigler, George J. (1957). “Perfect Competition, Historically Contemplated,” Journal of Political Economy 65:1 (February), 1-17.
Stiglitz, Joseph E. (1987). “The Causes and Consequence of the Dependence of Quality on Price,” Journal of Economic Literature 25 (March): 1-48.
Swamy, Arun R. (2003). "Hindu Nationalism – What's Religion Got to Do With It?" (Asia-Pacific Center for Security Studies).
Syed, Murtaza, and Jinsook Lee (2010). "Japan's Quest for Growth: Exploring the Role of Capital and Innovation," Working Paper 294. (Washington, D.C.: International Monetary Fund, December).
Trotsky, Leon (1977, 1972, 1936). "The Revolution Betrayed," (New York:  Pathfinder Press).
Yao, Shujie (2007). "China's New Economic Policy Initiatives from the 17th National Congress of the Chinest Communist Party," (Nottingham, U.K.: University of Nottingham, China Policy Institute).

All class sessions are based on the student's prior reading of assigned material.  Exceptions to reserve readings will be announced by the instructor. 

                                             ***

 I.	The Nature and Significance of Comparative Economic Systems
(1/24/11) Class   1 - Introduction to Comparative Economic Systems, text (1-22). Key concepts: comparative systems, new traditional economies, share economy, traditional economy, caste system, market economy, command economy, capitalism, socialism, state capitalism, market capitalism, command socialism, market socialism, command capitalism, planners' preferences, consumers' sovereignty, war communism, plannet market economy, indicative planning, material incentives, moral incentives, Great Proletarian Cultural Revolution, Austrian School of economics, maximin criterion, pure communism, equity-efficiency trade-off, social safety net, social market economies, newly industrializing countries, laissez-faire, social democracy, dictatorship of the proletariat, Shari'a law, real per capita icome, Malthusian low-level equilibrium trap, realtive backwardness hypothesis, static efficiency, Pareto optimality, dynamic efficiency, macroeconomic stability, Human Development Index (HDI), Economic Freedom Index (EFI), Lorenz curves, Gini coefficient, social capital. Reserve Readings: Allman, William F.(1985).,”Determining Risks with Statistics – and with Humanity,” Science 85/Baltimore Sun, October 13, 1985, p. 50; Arrow, Kenneth J., “The Organization of Economic Activity:  Issues Pertinent to the Choice of Market versus Non-Market Activity,” in Mansfield Readings, (437-455); Friedman, Milton and Leonard J.Savage (1948). “The Utility Analysis of Choices Involving Risk,” Journal of Political Economy I 56:4 (August), 279-304).  Datasets: Human Development Index 2004; The Corruption Perceptions Index, Application Modules: Economic Functions of the Public Sector,  The Circular Flow Diagram,    Classroom Case Studies:        
(1/26/11) Class   2 - Market Capitalism, text (23-52). Key concepts: industrial revolution, dynamic efficiency, creative destruction, complete information, competition, full imformation, general equilibrium, partial equilibrium, production possibilities frontier, invisible hand, monopoly power, market failure, producer's surplus, consumer's surplus, total social welfare, monopoly rent, deadweight social welfare loss, natural monopoly, monopolistic competition and oligopoly, excess capacity theorem, perfect collusion, contestable markets, Sherman Act of 1890, Federal Trade commission Act of 1914, Clayton Act of 1914, Keiretsu, Chaebol, negative and positive externalities, incompleteness of markets, Coase theorem, tradeable emissions permits, collective consumption or pure public goods, free rider problem and moral hazard, methodological individualism, public choice school, asymmetric information, principal-agent problem, business unionism, corporatism, Keynesian School, Classical School, New Classical Economics, Chicago School, Rent-Seeking behavior. Reserve Readings: Stigler, George J. (1957). “Perfect Competition, Historically Contemplated,” Journal of Political Economy 65:1 (February), 1-17; Arrow, Kenneth J. (1998), “What Has Economics to Say About Racial Discrimination,” Journal of Economic Perspectives 12:2 (Spring): 91-100; Bator, Francis M. (1958). “Anatomy of Market Failure,” Quarterly Journal of Economics, 72(3): 351-379; Ramsey, Frank P. (1927). “A Contribution to the Theory of Taxation,” The Economic Journal 37:145 (March), 47-61; Simon, Herbert A. (1959). “Theories of Decision-Making in Economics and Behavioral Science”, American Economic Review XLIX: June: 253-283.  Datasets: International Trade and Economic Growth, Corruption and Economic Growth,  Application Modules: Basic Supply and Demand, Basic Econometric Forecasting Modeling,  Competitive Strategy, Excise Taxation,  The Basic Harrod-Domar Growth Model, Classroom Case Studies:
(1/31/11) Class   3 – Marxism and Socialism, text (53-73).  Key concepts: Karl Marx (1818-1883), The Communist Manifesto (1848), millenarian tradition, utopian socialism, Henri de Saint Simon (1760-1825), Charles Fourier (1772-1837), Robert Owen (1771-1858), constructivism, social engineering, phalansteries, Amana Farms, George Ripley (1802-1880), Bronson Alcott (1799-1888), Margaret Fuller (1810-1850), Ralph Waldo Emerson (1803-1882), Grand National Consolidated Trades Union, Israeli kibbutzim, holistic systems, Georg Friedrich Hegel (1770-1831), Hegelian dialectics of thesis-anthithesis-synthesis, universal idea, historical materialism, bourgeoisie, proletariat, class struggle, forces of production, relations of production, mode of production, superstructure, dialectical materialism, Critique of the Gotha Program (1870), return to pure land, indirect labor, surplus value, exploitation, alienation, organic composition of caital, rate of exploitation, rate of profit, Edouard Bernstein (1850-1932) Evolutionary Socialism (1899), revisionism, theories of imperialism, John A. Hobson (1858-1940), Rosa Luxemburg (1871-1919), V.I. Lenin (1870-1924), Imperialism: The Highest Stage of Capitalism (1916), Karl Kautsky (1854-1938),  Bosheviks, Mensheviks, Paris Commune of 1871, anarchism, syndacliam, First, William Godwin (1756-1836), Michael Bakunin (1814-1876), Leon Trotsky (1879-1940), First International (1864), Second International (1889), Third International (1928), Fourth International (1963), Josef Broz Tito (1892-1980), worker-managed market socialism, Mao Tse Tung (1893-1976), Great Leap Forward (1957-1959), Great Proletarian Cultural Revolution (1966-1969), Sendero Luminoso, socialist planning, Ludwig von Mises (1881-1973), Friedrich Hayek (1899-1992), Oskar Lange (1904-1965), new economic mechanism, soft budget constraints, János Kornai (1928-  ), material balance method, Gosplan, town and village enterprises, techpromfinplan, ratchet effect, storming, input-output analysis, Wassily Leontief (1905-1999), linear programming, Leonid V. Kantorovich (1912-1986), Walter Isard (1919-2010), Participatory or cooperative economy, labor-managed economy, Jaroslav Vanek (1930-  ), Louis Kelso (1913-1991), usufruct rights, third way, employee stock ownership plans, Martin Weitzman (1942-  ). Reserve Readings: Marx, Karl, and Frederick Engels (1848). "Manifesto of the Communist Party," (Moscow: Progress Publishers, 1969, 1848): Bernstein, Eduard (1965,1932). "Introduction", Evolutionary Socialism.  (New York:  Schocken Books). Datasets:     Application Modules: The Measurement of Income Inequality,  Classroom Case Studies: Income Distribution
(2/02/11) Class   4 – Transitional Economic Systems, text (74-84). Key concepts: soft budget constraints, Washington Consensus, Human Development Index. Reserve Readings: Kornai, János (1998). "The System Paradigm," Working Paper Number 278. (Washington, D.C.: International Monetary Fund, April); Atkinson, Anthony B. (1987). “On the Measurement of Poverty,” Econometrica 55:4 (July), 749-764; Kakwani, Nanak C. (1977). “Applications of Lorenz Curves in Economic Analysis,” Econometrica 45:3 (April), 719-728. Datasets: Bills, Bonds, Stocks, Inflation,     Application Modules:   Basic Economic Efficiency,   Dynamic Economic Efficiency,  Classroom Case Studies: 
(2/07/11) Class   5 – Islamic Economics, text (85-111). Key concepts: familistic groupism, Old Traditional Economy, household/reciprocal/redistributive dimensions of traditional economies, formalists vs. substantivists, New Traditional Economy, Asiatic Mode of Production, Buddhist economics, E.F. Schumacher (1911-1977), Mahayana, Buddhist socialism, Confucian economics, Analects, Neo-Confucianism, crony capitalism, jajmani system, Hindu economics, Hind swaraj, Swadeshi, integral humanism (195), Judaic economics, Zionist movement, kibbutzim, Christian economics, St. Thomas Aquinas (1225-1274), Max Weber (1864-1920), the Protestant ethic, Muhammed (570-632), Ka'bah, Qur'an, Hadith, Shari'a, sura, Ka'bah, Hijra, Zakat, gharar, riba, qirad, mudarabah, waqf, umma, caliph, Jean-Marie LePen (1928-  ), Taliban, Mohammed Mossadegh (1882-1967), OPEC (1960). Reserve Readings: Rehman, Scheherazade S., and Hossein Askari (2010). "An Economic Islamicity Index," Global Economy Journal 10:3, 1-39.   Datasets:     Application Modules:  Capital Budgeting Basics,     Classroom Case Studies:
(2/09/11) Class   6 – The U.S. in Global Perspective, text (115-143). Key concepts: American sysem of interchangeable parts, Fordist assembly line production, Bretton Woods Conference of 1944, World Trade Organization, new Economy, mercantile policy, Adam Smith (1723-1790), The Wealth of Nations (1776), Bill of Rights (1789), infant indusry argument, limited liability corporation, Gilded Age (1865-1900), J.D. Rockefeller (1839-1938), J.P. Morgan (1837-1913), Theodore Roosevelt (1858-19190, Woodrow Wilson (1856-1924), Trust busing, Sherman Act (1890), Franklin D. Roosevelt (1882-1945), Smoot-Hawley Tariff of 1930, New Deal, FDIC, SEC, CCC, WPA, NLRB, Marshall Plan, John F. Kennedy (1917-1963), Lyndon B. Johnson (1908-1973), Great Society, James Earl Carter (1924-  ) Ronald Reagan (1911-2004), Reaganomics, supply-side economics, Bill Clinton (1946-  ), Anglo-American corporate form, Adolphe Berle (1895-1971) and Gardiner Means (1896-1988), Alfred P. Sloan (1875-1966), Pierre S. Du Pont (1915-  ), M-form structure, New Institutionalist Economics, Ronald Coase (1910-   ), Oliver Williamson (1932-  ), core competencies, ICC (1887), FCC (1930), CAB (1930-1971), FAA (1958), EPA (1970), OSHA (1970), Human Development Report, Economic Report of the President, total factor productivity, luxury fever, winner-take-all contests. Reserve Readings: Schumpeter, Joseph A. (1962, 1950, 1942). "The Process of Creative Destruction," chapter VII, from Capitalism, Socialism, and Democracy,  (New York:  Harper Torchbooks, 1962); Coase, Ronald H (1937). “The Nature of the Firm,” Economica, New Series 4:16 (November), 386-405; Conlisk, John (1996).  “Why Bounded Rationality?”  Journal of Economic Literature XXIV:2 (June), pp. 669-700.   Datasets: The U.S. Saving Rate,  U.S. Income Inequality Trends, U.S. Airline Mergers,  U.S. Budget and Trade Balances, U.S. Balance of Payments Trends, U.S. Unemployment Rates,   Application Modules:      Classroom Case Studies:             
Term Paper Topic Selection Deadline
(2/14/11) Class   7 – The Economic System of Japan 1, text 144-166). Key concepts: Japan, Incorporated, familistic groupism, Shinto, bushido code, wa, shoguns, zaibatsus, kereitsus, quality circles, dual economy, share economy, seniority wages, enterprise unions, horizontal vs. vertical kereitsu, network externalities, OECD, kanban, J-mode organization vs. H-mode organization, nemawashi consensus decision-making, ringi-sho, MITI, amakudari "descend from heaven" employment, product cycles, rationalization cartels, depression cartels, PPP metrics, Minimata disease mercury pollution, itai itai cadmium pollution disease, gai-jin xenophobia, Ainu, Burakumin. Reserve Readings: Syed, Murtaza, and Jinsook Lee (2010). "Japan's Quest for Growth: Exploring the Role of Capital and Innovation," Working Paper 294. (Washington, D.C.: International Monetary Fund, December).   Datasets:  Stock Market Bubbles, World Fish Consumption,  Application Modules:      Classroom Case Studies:
(2/16/11) Class   8 – The Economic System of Japan 2, text (167-177). Key concepts: Big-Bang Reforms, bubble economy of Japan, Clyde Prestowitz, Sintaro Ishihara (1932-  ).  Reserve Readings: Cipriani, Marco, and Antonio Guarino (2010). "Estimating a Structural Model of Herd Behavior in Financial Markets," Working Paper 288. (Washington, D.C.: International Monetary Fund).  Datasets: Stock Market Volatility,     Application Modules:      Classroom Case Studies:
(2/21/11) Class   9 – The Economic System of France, text (178-201). Key concepts: indicative planning, dirigisme, Jean-Baptiste Colbert (1619-1683), Marquis d'Argenson (1694-1757), laissez-faire, physiocrats, François Quesnay (1694-1774), Jacques Turgot (1727- 1781), Maximilien Robespierre (1758-1794), Charles DeGaulle (1890-1970), Eduard Balladur (1929-  ), François Mitterand (1916-1996), Lionel Jospin (1937-  ), Jacques Chirac (1932-  ), European Union, Pierre Massé (1898-1987), l'économie concertée, exhortive planning, Jean Monnet (1888-1979), First Plan (1946-1952), Délégation à l'Aménagement du Territoire et à l'Action Régionale (DATAR), amakudari, Second Plan (1953-1957), Third Plan (1957-1961), Fourth Plan (1961-1965), Fifth Plan (1965-1970), Sixth Plan (1970-1975), Seventh Plan (1975-1980), Eighth Plan (1980-1984), Ninth Plan (1984-1988), Tenth Plan (1989-1992), Maastricht Treaty of 1991, Cecchini Report (1988), Grand Industrial Policy, corporatism, autogestion, Common Agricultural Policy (PAC), Eurocrats, the euro and euroland. Reserve Readings: Levy, Jonah D., Mari Miura, and Gene Park (2003). "Exiting Etatisme? New Directions in State Policy in France and Japan," workshop paper on New State Activities in the Age of Globalization.  (Berkeley, California: University of California Berkeley); Stiglitz, Joseph E. (1987). “The Causes and Consequence of the Dependence of Quality on Price,” Journal of Economic Literature 25 (March): 1-48. Datasets:  The G-20 Group of Countries, The Global Commercial Aircraft Market,  International Health Care, International Productivity,  Application Modules:      Classroom Case Studies:
(2/23/11) Class 10 – The Economic System of Sweden, text (201-229). Key concepts: social market economy, centralized wage bargaining, wage solidarism, Assar Lindbeck (1930-  ), Carl Bildt (1949- ), L.M. Ericsson, Landsorganisationen (LO), SVenska Arbetsgivareforening (SAF), liberal corporatism, Saltsjöbaden Agreement (1938), Rehn-Meidner Plan, Olof Palme (1927-1986), Value Added Tax (VAT), Gerte Hofstede (1928-  ), Post-Keynesian policies, OECD (1960), EFTA. Reserve Readings: Schneider, Geoffrey, and Paul Susman (2010). "Uneven Development and Grounded Comparative Institutional Advantage: Lessons from Sweden and Mondragon," Social Economics 39: 1-11.   Datasets:     Application Modules:      Classroom Case Studies:
(2/28/11) Class 11 – The Economic System of Germany 1, text (230-249). Key concepts: Federal Republic of Germany (RFD), German Democratic Republic (DDR), Wirtschaftswunder (Economic Miracle), lander, Mitbestimmung (codetermination), European Central Bank (ECB), Council on Mutual Economic Assistance (CMEA), mezzogiorno problem, Ossis-Wessis, Weimar Republic hyperinflation, command capitalist economy, cartelization, monetary overhand, Ordo-liberals, Soziale Marktwirtschaft (social market economy), European Coal and Steel Community (ECSC), Eurosclerosis, Globalsteureung (Concerted Action), Warsaw Pact, Kombinat, Ludwig Erhard (1897-1977), Erich Honeker (1912-1994). Reserve Readings: Datasets:     Application Modules:      Classroom Case Studies:
(3/02/11) Class 12 – The Economic System of Germany 2, text (250-263). Key concepts: Cold War, Big Bank economic transofrmation, Bundesbank, Treuhandanstalt (THA). Reserve Readings: Audretsch, David B. (2010),  "German Economic Policy, (Bloomington, Indiana: Indiana University Institute for Development Strategies).  Datasets: Global Trading Groups,     Application Modules:      Classroom Case Studies:          
                  Term Paper Preliminary Bibliography Submission Deadline
(3/07/11) Class 13 – The Economic System of the Soviet Union, text (264-285). Key concepts: USSR, Slavophile, Russian Orthodox Church, New Economic Policy (NEP), Josef Stalin (1879-1953), Leon Trotsky (1879-1940), Nikolai Bukharin (1888-1938), Yevgeni Preobrazhensky (1886-1937), Lavrenti Beria (1899-1953), Nikolai Bulganin (1895-1975), Georgy Malenkov (1902-1988), Nikita Khrushchev (1894-1971), Leonid Brezhnev (1906-1982), Alexi Kosygin (1904-1980), Yuri Andropov (1914-1984), CMEA, barter exchange, socialism in one country, genetecists, teleologists, central administrative planning, Gosplan, rent-seeking behavior, nomenklatura, gigantomania, ratchet efect, storming, kulaks, kolkhoz, labor days, sovkhoz, auxiliary household plots, shadow economy, ministerial compartmentalism, sovnarkhozy,  Mikhael Gorbachev (1931-     ), perestroika, glasnost. Reserve Readings: Trotsky, Leon (1977, 1972, 1936). "The Revolution Betrayed," (New York:  Pathfinder Press); Downs, Anthony (1957). “An Economic Theory of Political Action in a Democracy,” Journal of Political Economy I, 65:2 (April), 135-150; Parkinson, C. Northcote (1955). “Parkinson’s Law”, in Mansfield, Managerial Economics Readings, (63-70). Datasets:  East European Per Capita GDP 1997,  Clean Water Access Rates,   Application Modules:      Classroom Case Studies:
(3/09/11) Class 14 – The Post-Soviet Economic System 1, text (285-305). Key concepts: Boris Yeltsin(1931-2007), Vladimir Putin (1952- ), 1991 Law on Enterprise and Entrpreneurship, Law on Principles of Entrepreneurship, Law of the Destatization and  Privatization of Enterprises, Land Code of 2001, virtual economy, arbitrae, seigniorage, voucher privatization, tolkachi, short-term state bonds (GKO), demonetization, nomenklatura, secessionist movements, Commonwealth of Independent States (CIS), CIS Customs Union (1996), Eurasian Economic Community (EEC, 2000). Reserve Readings: Bean, Jonathan (1997). "Nikolai Bukharin and the New Economic Policy – A Middle Way?" The Independent Review II(1): 1-20; Dixit, Avinash, and Robert Pindyck (1994), Investment Under Uncertainty (Princeton, NJ:  Princeton University Press).   Datasets:  East European Countries,    Application Modules:      Classroom Case Studies:
(3/14/11) Class 15 – The Post-Soviet Economic System 2, text (305-324). Key concepts: Basmachi, CIS, FSU, GUUAM (Georgia, Ukraine, Azerbaijan, Moldova), ruble zone, currency board, transformational recession, import substitution. Reserve Readings: Gaidar, Yegor (2007), "The Soviet Collapse: Grain and Oil," Issues Paper. (Washington, D.C.: American Enterprise Institute, April); Coase, Ronald H. (1960), “The Problem of Social Cost”, Journal of Law and Economics  (October), 1-44.  Datasets:    Political Balkanization,   Application Modules:      Classroom Case Studies:
(3/16/11) Class 16 – Mid-Term Examination – Text (1-324), Reserve readings, application modules, and case studies.
(3/21/11 – 3/26/11) – Spring Break – No Classes
(3/28/11) Class 17 - Eastern European Economies – Poland, text (325-351). Key concepts:  agricultural privatization, market fundamentalism, employee ownership, asymmetric information, Balcerowicz Plan (1990), Solidarnosé (Solidarity), Sejm, Wladyslaw Gomulka (1905-1982), Kombinat, samorzadny (self-management), samofinansujacy (self-finance), samodzielny (independent enterprise), Visegrad economies (Poland, Hungary, Slovakia, Czech Republic), Lech Walesa (1943-  ), Grzegorz Kolodko. Reserve Readings: Kolodko, Grzegorz (1993). "From Output Collapse to Sustainable Growth in Transition Economies: The Fiscal Implications," Working paper No. 35. (Warsaw, Poland:  Institute of Finance). Datasets: The European Union,     Application Modules:      Classroom Case Studies:
(3/30/11) Class 18 – Eastern European Economies – Hungary, text (351-387). Key concepts: National Investment Funds (NIF's), indirect privatization. direct privatization, shock therapy, gradual transformation, New Economic Mechanism (NEM, 1968), Miklos Horthy (1868-1957), Béla Kun (1886-1938), Mátyás Rákosi (1892-1971), Imre Nagy (1896-1958), János Kadar (1912-1989), goulash communism, second economy, Manchesterism, Galbraithian socialists, József Antall, Lajos Bokros (1954-   ), Janos Kornai (1928-   ). Reserve Readings:   Datasets:     Application Modules:      Classroom Case Studies:
(4/04/11) Class 19 – Eastern European Economies – Yugoslavia, text (388-409). Key concepts: Josef Broz Tito (1892-1980), Dayton Peace Accord (1995), zadruga, Ante Pavelic (1889-1959), Cominform, Milovan Djilas (1911-1995), Edvard Kardelj (1910-1979), Alexsandr Rankovic, worker-managed economy, participatory economy, Pareto optimality, producer cooperatives/employee stock option plans, Workers' Council Law, integrally planned worker management, gastarbeiter, Basic Organizations of ASsociated Labor (BOAL), Working Organizations of Associated Labor (WOAL), Composite Organization of Associated Labor (COAL), Slobodan Milosevec (1941-2006). Reserve Readings:   Datasets:     Application Modules:      Classroom Case Studies: 
                 Term Paper Revised Bibliography and Outline Submission Deadline.
(4/06/11) Class 20 – Evolving Economies – Slovenia - China 1, text (409-430). Key concepts: Great Leap Forward (GLF, 1959-1961), insider buyouts, Maastricht criterion, Great Proletarian Cultural Revolution (GPCR, 1966-1969), town and village enterprises (TVE), Special Enterprise Zones (SEZ), Neo-Confucianism, household resonsibility system (1979), wu-wei (no action), Tao Te Ching, Legalism, Neo-Confucian synthesis (ca. 1100), production teams, Han dynasty (206BCE-220CE), Tang (618-906), Song (960-1275), Yuan (1276-1367), Ming (1368-1644), Qing (1645-1911), Asiatic mode of production, hydraulic (oriental) despotism, Opium Wars (1839-1842), Mao Tse Tung (1893-1976), warlordism, Long March (1935-1936), Maoism, Comintern, Sino-Soviet split, Red Guards, capitalist roader, Quotations of Chairman Man, Deng Xiaoping (1904-1997), Lin Biao (1907-1971). Reserve Readings: Yao, Shujie (2007). "China's New Economic Policy Initiatives from the 17th National Congress of the Chinest Communist Party," (Nottingham, U.K.: University of Nottingham, China Policy Institute).  Datasets: World Bicycle Production, Application Modules: Alternative Pension System Choices,        Classroom Case Studies:
(4/11/11) Class 21 – East Asian Economies – China 2, text (431-449). Key concepts: responsibility contracts, rural collectives, Economic and Technological Development Zones (ETDZ), newly industrializing economy (NIC), one country-two systems, land-to-the-tiller program (1953), Export Processing Zones (EPZ, 1966). Reserve Readings: Dean, Jason, Andrew Browne, and Shai Oster (2010).  "China's 'State Capitalism' Sparks a Global Backlash," The Wall Street Journal, November 16, 2010; International R&D Patterns,   Datasets: World Fossil Fuel Consumption, Global Climate Indicators, Global Temperatures,    Application Modules:      Classroom Case Studies:
(4/13/11) Class 22 – East Asian Economies – India 1, text (450-475). Key concepts: India jajmani system, Congress Party, Bharatiya Janata Party (BJP), Mohandas K. Gandhi (1869-1948), Jawaharial Nehru (1889-1964), Indira Gandhi (1917-1984), (Atal Bihari Vajpayee (1924-   ), Hinduism, Buddhism, Jainism, Sikhism, Rig Veda, Upanishads, Bhagavad Gita, caste system, Brahmins. Kshatriya, Vaisyas, Sudras, satyagraha (nonviolence), Hindutva, Sepoy Rebellion (1857), Curzon Partition, protectionism, Hindu equilibrium, Fabian socialism, import substitution policies, national self-sufficiency (swaraj), License-Permit Raj, Nonaligned Nations, reservation system, Maruti Udhyog Limited (MUL), Hindu rate of growth. Reserve Readings: Acharya, Shankar (2010). "Ten Myths of Indian Economic Policy," (London: Financial Times Economists Forum).  Datasets:,    Application Modules:      Classroom Case Studies:
(4/18/11) Class 23 – India 2, and Iran 1, text (475-500). Key concepts: Malthusian trap, localization (swadeshi), Hindu economics, Amartya K. Sen (1933-   ), Islamic Revolution in Iran (1979), Islamic economics, Shi'i, vs. Sunni, caliph, umma, Imam, Hidden Imam, Ayatollah Ruhollah Khomeini (1902-1989), zakat, ulama, khums, Islamic socialism, Sfavid dynasty, Qajar dynasty, d'Arcy oil concession (1902), Mohammed Mossadegh (1882-1967), Reza Shah (1878-1944), Shah Pahlavi (1919-1980), waqf, SAVAK, White revolution, Abolhassan Bani-Sadr (1933-  ), Ayatollah Ali Akbar Hashemi Rafsanjani (1934-   ), Council of Guardians, Mohammed Khatami (1943-   ), banyad (Foundation of the Oppressed). Reserve Readings: Swamy, Arun R. (2003). "Hindu Nationalism – What's Religion Got to Do With It?" (Asia-Pacific Center for Security Studies).  Datasets:     Application Modules:      Classroom Case Studies:
(4/20/11) Class 24 – The Economy of Iran 2, text (501-513). Key concepts:  Mahmoud Ahmedinijad (1956-    ), Islamic Workers' Councils (Shourahs, 1980), mudarabah, Hanbali law, Vilayat-al-faqih (supreme leader and jurist), ush (tithe), zakat (wealth tax), khum (income tax). Reserve Readings: Ilias, Shayerah (2010). "Iran's Economic Conditions:  U.S. Policy Issues," (Washington, D.C.: Congressional Research Service Report).  Datasets:  Evolution of Crude Oil Prices,    Application Modules:      Classroom Case Studies:
(4/25/11) Class 25 – Central and Latin America – Mexico, text (514-541). Key concepts: NAFTA (1994), Zapatista National Liberation Army (EZLN), Partido Revolucionario Institucional (PRI), Ejercito Popular Revolucionario (EPR, Popular Revolutionary Army), Partido Acción Nacional, National Action Party, PAN), Lázáro Cárdenas (1895-1970), Bonapartist populist corporatism, state capitalism, technocratic populist corporatism, Pacto corporatist incomes policy (1987), encomiendas, haciendas, Porfirio Díaz (1830-1915), Confederación de Trabajadores de México (CTM), Petróleos Mexicanos (PEMEX), maquiladora plants, rancho, ejido, atlepetalli (common land), individual-use ejido farms, communal ejido farms, parastatal, Ernesto Zedillo (1951-   ), debt-for-nature swaps, currency boards. Reserve Readings: Canales-Kriljenko, Jorge Iván, Luis I. Jácome, Ali Alichi, and Ivan Luis de Oliveira Lima (2010). "Weathering the Global Storm: The Benefits of Monetary Policy Reformin the LA5 Countries," Working Paper 292.  (Washington, D.C.: International Monetary Fund).  Datasets:     Application Modules:  Basic Banking Monetary Dynamics,   Classroom Case Studies:
	 Research Paper Submission Deadline
(4/27/11) Class 26 – East Asian Economies – The Koreas 1, text (542-564). Key concepts: Korean war (1950-1953), Hermit kingdom, juche (self-reliance), Asian Tigers (Taiwan, Hong Kong, Singapore, South Korea), chaebol (conglomerate), Kim Il Sung (1912-1994), Kim Jong Il (1941-  ), Cult of Personality, Chollima (flying horse self-sufficiency drive, 1956), chaju (political independence, charip (economic-self-sustenance, chawi (military self-defense). Reserve Readings: Holcombe, Randall G. (2010). "South Korea's Economic Future: Industrial Policy, or Economic Democracy," (Tampa, Florida: University of South Florida).  Datasets:     Application Modules:      Classroom Case Studies:
(5/02/11) Class 27 – East Asian Economies – The Koreas 2, text (565-574). Key concepts: Syngman Rhee (1875-1965), Park Chung-hee (1917-1979), Hahn. Reserve Readings: Nanto, Dick K., and Emma Chanlett-Avery (2010). "North Korea: Economic Leverage and Analysis," (Washington, D.C.:  Congressional Research Service Report).  Datasets:     Application Modules:      Classroom Case Studies:
(5/04/11) Class 28 – Comparative Systems in Perspective, text (575-588). Key concepts: U.K. privatization, Margaret Thatcher (1925-    ), imperial overreach, Anglo-Saxon economic model, popular capitalism, Samuel Huntington (1927-2008), hegemonism, relative backwardness hypothesis, Alexander Gershenkron (1904-1978), Simon Kuznets (1901-1985), Nikolai Kondratiev (1892-1938), Adolf Wagner (1835-1917), social capital, global warming hypothesis, 1989 Montreal Accords. Reserve Readings: Holmstrom, Bengt, and John Roberts.  “The Boundaries of the Firm Revisited,” Journal of Economic Perspectives 12:4 (Fall 1998): 73-94; Huntington, Samuel P. (1993). "The Clash of Civilizations?" Foreign Affairs 72(3): 1-22; Pareto, Vilfredo (1897). “The New Theories of Economics,” Journal of Political Economy 5:4 (September), 485-502.   Datasets: World Wars and Armed Conflicts, World Roundwood Production, Clean Water Access Rates, Africa Data, Application Modules:      Classroom Case Studies:
(5/09/11) Class 29 – Final Review – text (1-588), selected readings, case studies.

Policies and Procedures:

		1.  Grading:   Final examination:		35% (cumulative; essays and objective)
				         Mid-Term examination:	25% (essays and objective)
					  Research Paper*:		20%
				         Classroom presentations and 
			                 classroom case studies:	20%  
		2.  Make-up examinations:  None. 
3.	Office Hours:  TBA, lebelp@mail.montclair.edu

*Terms of Reference for the Research Paper: Each student is to prepare a research paper with various stage deadlines indicated in the syllabus. The choice of a paper topic can be determined in terms of thematic issues to be covered in the course, with specific application to a designated country or group of countries.  In addition, the paper is to identify clearly the problem to be examined, the choice of methodology to be used, the relevant source materials and data to be utilized, as well as any quantitative techniques to be applied in the analysis.  By having several preparatory submission stages, the student will obtain feedback from the instructor as to the content and direction of the paper rather than risking an ambiguous submission at the final deadline.  Failure to adhere to the deadlines stipulated in the syllabus will result in grading penalties.

While printed versions of the preparation stages of the paper will be required, the final version is to be submitted electronically, and will be filtered through the University's Blackboard Safe Assign plagiarism software program prior to any evaluation.  A paper that fails the plagiarism filter test automatically will be given an F.

                                                            Salisbury University
Perdue School of Business
Department of Economics and Finance

ECON402																					P. LeBel
Comparative Economic Systems														      

Reading List

Abegglen, James (1958). The Japanese Factory.  (Glencoe, Illinois:  The Free Press).
Adams, William James (1989). Restructuring the French Economy: Government and the Rise of Market Competition since World War II. (Washington, D.C.: The Brookings Institution).
Adams, William James, and Christian Stoffaes, eds. (1986). French Industrial Policy. (Washington, D.C.:  The Brookings Institution).
Aggarwal, Rajesh K., and Tarik Yousef (2000). "Islamic Banks and Investment Financing," Journal of Money, Credit, and Banking 32: 93-120.
Aghnides, Nicholas P. (1916). Mohammedan Theories of Finance. (New York: Columbia University Press).
Ahmed, Akbar (2002). "Ibn Khaldun's Understanding of Civilizations and the Dilemmas of Islam and the West Today" Middle East Journal 56: 20-45.
Akamatsu, Kaname (1961). "A Theory of Unbalanced Growth in the World Economy," Weltwirtschaftliches Archiv 86: 196-217.
Akerlof, George A., Andrew K. Rose, Janet L. Yellen, and Helga Hessenius (1991). "East Germany in from the Cold: The Aftermath of Currency Union." (Washington, D.C.: Brookings Papers on Economic Activity 1: 1-87.
Akerlof, George (1970).  "The Market for Lemons," Quarterly Journal of Economics 84: 488-500.
Albert, Michael, and Robin Hahnel (1991).  The Political Economy of Participatory Economics. (Princeton, N.J.: Princeton University Press).
Alizadeh, Parvin, ed. (2001). The Economy of Iran: The Dilemma of an Islamic State. (London: I.B. Tauris).
Allcock, John B. (2000). Explaining Yugoslavia. (New York:  Columbia University Press).
Amin, Samir (1987). The Future of Maoism. (New York: Monthly Review Press).
Amsden, Alice H. (1989). Asia's Next Giant: South Korea and Late Industrialization. (New York: Oxford University Press).
Amuzegar, Jahangir (1997). Iran's Economy Under the Islamic Republic.  (London: I.B. Tauris).
Anwar, Muhammed (1987). Modelling Interest-Free Economy: A Study in Macro-economics and Development.  (Herndon, Virginia:  International Institute of Islamic Thought).
Aoki, Masahiko (1990). "Toward an Economic Model of the Japanese Firm," Journal of Economic Literature 26: 1-27.
Arendt, Hannah (1968, 1951). Imperialism: Part Two of The Origins of Totalitarianism.  (New York:  Harcourt Brace and World).
Arrow, Kenneth J., and Frank Hahn (1971).  General Competitive Analysis.  (San Francisco:  Holden-Day).
Arrow, Kenneth J. (1963, 1951). Social Choice and Individual Values, 2nd edition. (New York:  John Wiley and Sons).
Ashraf, Muhammed (1947).  Economics of Islam.  (Lahore, Pakistan:  Shaikh Umar Daraz). 
Aslund, Anders (1995).  How Russia Became a Market Economy.  (Washington, D.C.:  The Brookings Institution).
Aspe, Pedro (1993). Economic Transformation: The Mexican Way. (Cambridge, Mass.: MIT Press).
Atack, Jeremy and Peter Passell (1994). A New Economic View of American History, 2nd ed. (New York:  W.W. Norton).
Atkinson, Anthony B., and John Mickelwright (1992). Economic Transformation in Eastern Europe and the Distribution of Income. (New York:  Cambridge University Press).
Bakash, Shaul (1990). The Reign of the Ayatollahs, 2nd ed. (New York: Basic books.
Baran, Paul A., and Paul M. Sweezy (1966).  Monopoly Capital.  (New York:  Monthly Review Press).
Bardan, Pranab and John E. Roemer (1992). "Market Socialism:  The Case for Rejuvenation," Journal of Economic Perspectives 6(3): 101-116.
Bayoumi, Tamim (2001). "The Morning After: Explaining the Slowdown in Japanese Growth in the 199s," Journal of International Economics 53: 251-259.
Barzini, Luigi (1983). The Europeans. (New York: Simon and Schuster).
Berghahn, V.R. (1982). Modern Germany: Society, Economics and Politics in the Twentieth Century. (New York: Cambridge University Press).
Berglof, Erik, Andrei Kounov, Julia Shvets, and Ksenya Yudaeva (2003). The New Political Economy of Russia. (Cambridge, Mass.: MIT Press).
Berle, Adloph A., and Gardiner C. Means (1967, 1932). The Modern Corporation and Private Property.  (New York:  Macmillan).
Bernanke, Ben (1983). "Nonmonetary Effects of the Financial Crisis in the Propagation of the Great Depression," American Economic Review 73: 257-276.
Bernstein, Eduard (1965, 1932).  Evolutionary Socialism.  (New York:  Schocken Books).
Bernstein, Richard (1997). The Coming Conflict with China. (New York: Alfred A. Knopf).
Blasi, Joseph R., Maya Kroumova, and Douglas Kruse (1997).  Kremlin Capitalism: Privatizing the Russian Economy.  (Ithaca, New York:  Cornell University Press).
Black, Antony (2001). The History of Islamic Political Thought: From the Prophet to the Present.  (New York:  Routledge).
Blau, Francine D. (1998). "Trends in the Well-Being of American Women," Journal of Economic Literature 36: 112-165.
Block, Walter (1996). "The Mishnah and Jewish Dirigisme," International Journal of Social Economics 23: 35-44.
Boettke, Peter, (2001). Calculation and Coordination:  Essays on Socialism and Transitional Political Economy. (London: Routledge).
Borenstein, Severin (2002). "The Trouble with Electricity Markets: Understanding California's Restructuring Disaster," Journal of Economic Perspectives 16(1): 191-211.
Bornstein, Morris, ed. (1994).  Comparative Economic Systems:  Models and Cases, 7th ed.  (Burr Ridge, Illinois:  Irwin).
Bosworth, Barry P., and Alice M. Rivlin, eds. (1987). The Swedish Economy. (Washington, D.C.:  The Brookings Institution).
Boycko, Maxim, Andrei Shleifer, and Robert Vishny (1995). Privatizing Russia. (Cambridge, Mass.: MIT Press).
Braudel, Fernand (1990, 1988). The Identity of France, vols I and II. (New York:  Harper and Row).
Brown, Annette N., ed. (1999).  When is Transition Over? (Kalamazoo, Michigan:  Upjohn Institute for Employment Research).
Buchanan, James M., and Gordon Tullock (1962).  The Calculus of Consent:  Logical Foundations of Constitutional Democracy.  (Ann Arbor, Michigan:  University of Michigan Press).
Bukharin, Nikolai I. (1979, 1920, 1919). The Politics and Economics of the Transition Period.  (London:  Routledge and Kegan Paul).
Burkett, Paul, and Martin Hart-Landsberg (2000). Development, Crisis, and Class Struggle: Learning from Japan and East Asia. (New York:  St. Martin's Press).
Callon, Scott (1997). Divided Sun: MITI and the Breakdown of Japanese High-Tech Indusgtrial Policy. (Stanford, California: Stanford University Press).
Carlile, Lonny E., and Mark Tilton, eds. (1998). Is Japan Really Changing Its Ways?: Regulatory Reform and the Japanese Economy. (Washington, D.C.: The Brookings Institution).
Castaneda, Jorge (1995). The Mexican Shock. (New York: The New Press).
Caves, Richard, and Masu Uekasa (1976. Industrial Concentration in Japan. (Washington, D.C.: The Brookings Institution).
Chandler, Alfred D., Jr. (1962). Strategy and Structure:  Chapters in the History of Industrial Enterprise. (Cambridge, Mass.: MIT Press).
Chang, Sea-Jin. (2003). Financial Crisis and Transformation of Korean Business Groups: The Rise and Fall of Chaebols. (New York: Cambridge University Press).
Chanter, Juny, and Brian Jenkins (1996). France: From the Cold War to the New World Order. (New York: St. Martin's Press).
Chapra, M. Umer (1992). Islam and the Economic Challenge. (Leicester, U.K: Islamic Foundation).
Chapra, M. Umer (1985). Towards a Just Monetary System: A Discussion of Money, Banking and Monetary Policy in the Light of Islamic Teachings.  (Leicester, U.K: Islamic Foundation).
Choudhury, Massadul Alam (1998). Studies in Islamic Social Sciences. (New York:  St. Martin's Press).
Coase, Ronald H. (1960). "The Problem of Social Cost," Journal of Law and Economics 3 (October), 1-44.
Coase, Ronald H. (1937).  "The Nature of the Firm," Economica 4: 386-405.
Coates, David (2006, 2000).  Models of Capitalism:  Growth and Stanation in the Modern Era.  (Malden, Mass.:  Polity Press).
Cockshott, W. Paul, and Allin Cottrell (1993).  Towards a New Socialism.  (Nottingham, U.K.: Spokesman Press).
Cohen, Stephen S. (1969). Modern Capitalist Planning: The French Model. (Cambridge, Mass.: Harvard University Press).
Coleman, James S. (1990).  Foundations of Social Theory.  (Cambride, Mass.: Harvard University Press).
Commons, John R. (1931).  The Legal Foundations of Capitalism.  (Madison:  University of Wisconsin Press).
Cornelisse, Peter A., and Wouter Steffelaar (1995). "Islamic Banking in Practice:  The Case of Pakistan," Development and Change 26: 687-699.
Cowling, Keith, and Philip R. Tomlinson (2000). "The Japanese Crisis – A Case of Strategic Failure?" Economic Journal 110: F358-F381.
Dasgupta, Ajit K. (1996). Gandhi's Economic Thought. (London: Routledge).
Dasgupta, Partha, and Ismail Serageldin, eds. (2000).  Social Capital:  A Multifacted Perspective.  (Washington, D.C.:  The World Bank).
Debreu, Gerard (1959).  Theory of Value:  An Axiomatic Analysis of Economic Equilibrium.  (New Haven, Conn.:  Yale University Press Cowles Foundation).
Derrida, Jacques (1994).  Specters of Marx:  The State of the Debt, the Work of Mourning, and the New International.  (New York: Routlege Publishers).
Diamond, Jared M. (2005).  Collapse: How Societies Choose to Fail or Succeed. (New York:  Viking Books).
Diamond, Jared M. (1997).  Guns, Germs, and Steel: The Fates of Human Societies. (New York:  W.W. Norton).
Djilas, Milovan (1969). The Unperfect Society: Beyond the New Class. (New York: Harcourt, Brace and World).
Djilas, Milovan (1969, 1957).  The New Class:  An Analysis of the Communist System.  (New York:  Praeger Books).
Dobb, Maurice (1969, 1960).  An Essay on Economic Growth and Planning.  (New York:  Monthly Review Press).
Domhoff, G.William (1986).  Who Rules America Now?  (New York:  Touchstone Books).
Dore, Ronald P. (1986). Flexible Ridigity, Industrial Policy and Adjustment in the Japanese Economy, 1970-1980.  (London: Athlone Press).
Drèze, Jean, and Amartya Sen (1995). India: Economic Development and Social Opportunity. (New York: Oxford University Press).
Eberstadt, Nicholas (1999). The End of North Korea. (Washington, D.C.: American Enterprise Institute).
Edwards, Richard C., Michael Reich, and Thomas E. Weisskopf (1986).  The Capitalist System: A Radical Analysis of American Society, 3rd. ed. (Englewood Cliffs, N.J.: Prencice-Hall).
Eichengreen, Barry (1992).  Golden Fetters: The Gold Standard and the Great Depression: 1919-1939. (New York:  Oxford University Press).
Ellman, Michael, and Vladimir Kantorovich, eds. (1992). The Disintegration of the Soviet Economic System. (London: Routledge).
Ellman, Michael (1979).  Socialist Planning.  (Cambridge, U.K.:  Cambridge University Press).
Elyanov, A.Y. (1982, 1977).  Economic Growth and the Market in the Developing Countries.  (Moscow:  Progress Publishers).
Ericson, Richard E. (1991). "The Classical Soviet-Type Economy: Nature of the Sysem and Implications for Reforms," Journal of Economic Perspectives 5(4): 11-29.
Estrin, Saul, and Peter Holmes (1983). French Planning in Theory and Practice. (London: George Allen and Unwin).
Fischer, Stanley, and Ratna Sahay (2000). The Transition Economies After Ten Years," NBER Working Paper No. 7664.  (Canbridge, Mass.:  NBER).
Fishman, A. (1994). "Religious Socialism and Economic Succcess on the Orthodox Kibbutz," Journal of Institutional and Theoretical Economics 150: 763-768.
Flath, David. (2000) The Japanese Economy. (New York:  Oxford UniversityPress).
Fogel, Robert W., and Stanley L. Engerman (19774).  Time on the Cross:  The Economics of American Negro Slavery.  (Boston:  Little, Brown, 1974).
Foley, Duncan K. (1986).  Understanding Capital: Marx's Economic Theory.  (Cambridge, Mass.:  Harvard University Press).
Frank, Jeff, and peter Holmes (1990). "A Multiple Equilibrium Model of Indicative Planning," Journal of Comparative Economics 14: 791-806.
Frank, Robert H. (1998).  Luxury Fever: The New Middle Class Luxury Boom. (New York:  The Free Press).
Frank, Robert H., and Phillip J. Cook (1995).  The Winner-Take-All Society. (New York:  The Free Press).
Frankel, Jeffrey, and Peter Orszag, eds (2002). American Economic Policy in the 1990s. (Cambridge, Mass.: MIT Press).
Freeman, Alan, and Guglielmo Carchedi, eds. (1996).  Marx and Non-Equilibrium Economics.  (Cheltenham, U.K.:  Edward Elgar).
Freeman, R.B., R. Topel, and B. Swedenborg, eds. (1997). The Welfare State in Transition: Reforming the Swedish Model. (Chicago: University of Chicago Press).
Friedman, George, and Meredith LeBard (1991). The Coming War with Japan. (New York: St. Martin's Press).
Friedman, Milton and Anna J. Schwartz (1963).  A Monetary History of the United States: 1867-1960.  (Princeton, N.J.: Princeton University Press).
Friedman, Milton (1962).  Capitalism and Freedom.  (Chicago:  University of Chicago Press).
Friedman, Milton (1957).  The Quantity Theory of Money.  (Chicago:  University of Chicago Press).
Fukuyama, Francis (1995). Trust: The Social Virtues and the Creation of Prosperity. (New York: The Free Press).
Fukuyama, Francis (1992).  The End of History and the Last Man.  (New York:  The Free Press).
Furobotn, Eirik and Svetozar Pejovich (1973).  "Property Rights, Economic Decentralizaqtion and the Evolution of the Yugoslav Firm, 1965-72," Journal of Law and Economics 16: 275-302.
Furtado, Celso (2003, 2002).  En Busca de Un Nuebo Modelo: Reflexiones Sobre la Crisis Contemporánea.  (Buenos Aires:  Fondo de Cultura Economica).
Gaddy, Clifford G., and Barry W. Ickes (2002). Russia's Virtual Economy. (Washington, D.C.: The Brookings Institution).
Galbraith, John Kenneth (1972).  The Great Crash.  (Boston: Houghton Mifflin, 1972).
Genovese, Eugene D. (1967). The Political Economy of Slavery: Studies in the Economy and Society of the Slave South. (New York:  Vintage Books).
Gershenkron, Alexander (1962).  Economic Backwardness in Historical Perspective.  (Cambridge:  Harvard University Press).
Gibney, Frank (1998). Unlocking the Bureaucrat's Kingdom: Deregulation and the Japanese Economy. (Washington, D.C.: The Brookings Institution).
Godelier, Maurice (1972, 1966). Rationality and Irrationality in Economics.  (New York:  Monthly Review Press).
Goldin, Claudia (2001). "The Human Capital Century and American Leadership: Virtues of the Past," Journal of Economic History 61: 263-292.
Goldin, Claudia (1990). Understanding the Gender Gap: An Economic History of American Women. (New York:  Oxford University Press).
Goldman, Marshall I. (1983).  USSR In Crisis: The Failure of an Economic System.  (New York:  W.W. Norton and Company).
Gordon, Philip H., and Sophie Meunier (2001). The Franch Challenge: Adapting to Globalization. (Washington, D.C.: The Brookings Institution).
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Gustafsson, Björn, and peder J. Pedersen, eds. (2000. Poverty and Low Income in the Nordic Countries. (Aldershot, U.K.: Ashgate Publishers).
Gwartney, James D., Robert A. Lawson, and Randall Holcombe (1999). "Economic Freedom and the Environment for Economic Growth," Journal of Institutional and Theoretical Economics 155: 643-663.
Habermas, Jürgen (1975, 1973).  Legitimation Crisis.  (Boston, Mass.:  Beacon Press).
Halperin, Rhoda (1988).  Economies Across Cultures. (New York:  Macmillan Publishing).
Harris, Marvin (1974).  Cows, Pigs, Wars, and Witches.  (New York:  Random House).
Hart, Walter, and Kozo Yamamura (1996). Work and Pay in Japan. (New York:  Cambridge University Press).
Hashimoto, Masanori, and John Raisian (1985). "Employment Tenure and Earnings Profiles in Japan and the United States," American Economic Review 75: 721-735.
Hatch, Walter, and Kozo Yamamura (1996). Asia in Japan's Embrace: Building a Regional Production Alliance. (New York: Cambridge University Press).
Hayek, Friedrich (1988). The Fatal Conceit:  The Errors of Socialism.  (Stanford, California:  Hoover Institution).
Hayek, Friedrich (1980, 1948). Individualism and Economic Order.  (Chicago:  University of Chicago Press).
Hayek, Friedrich (1945). "The Price System as a Mechanism for Using Knowledge," American Economic Review 35: 19-530.
Hayek, Friedrich (1944).  The Road to Serfdom.  (Chicago:  University of Chicago Press).
Hayetk, Friedrich (1940).  "Socialist Calculation: The 'Competitive' Solution," Economica (May): 130-131.
Hayek, Friedrich, ed. (1935).  Collectivist Economic Planning. (London:  Routledge and Kegan Paul). 
Hayward, Jack (1986). The State and the Market Economy: Industrial Patriotism and Economic Intervention in France. (New York: New York University Press).
Heal, Geoffrey M. (1979, 1973).  The Theory of Economic Planning.  (Amsterdam:  North-Holland Publishing Company).
Hecht, Gabrielle (2000). The Radiance of France: Nuclear Power and National Identity after World War II. (Cambridge, Mass.: MIT Press).
Heilbroner, Robert, and Aaron Singer (1999). The Economic Transformation of America:  1600 to the Present, 4th ed. (Fort Worth, Texas:  Harcourt Brace).
Henwood, Doug (1997).  Wall Street.  (London: Verso Books).
Hibbs, Douglas A., Jr., and Hakan Locking (1995). "Solidarity Wage Policies and Industrial Productivity in Sweden," Nordic Journal of Political Economy 22: 95-108.
Hoke, Donald R. (1990). Ingenious Yankees: The Rise of the American System of Manufactures in the Private Sector.  (New York:  Columbia University Press).
Horvat, Branko (1982).  The Political Economy of Socialism.  (Armonk, New York:  M.E. Sharpe).
Hounshell, David A. (1984). From the American System to Mass production, 1800-1932. (Baltimore: Johns Hopkins University Press).
Huntington, Samuel P. (1996). The Clash of Civilizatoins and the Remaking of World Order. (New York: Simon and Schuster).
Ishihara, Shintaro (1991, 1989). The Japan That Can Say No: Why Japan Will Be First Among Equals. (New York:  Touchstone Books).
Issawi, Charles, trans. (1987).  An Arab Philosophy of History:  Selections from the "Prologomena" of Ibn Khaldun of Tunis (1332-1406). (Princeton, N.J.: Princeton University Press).
Ito, Takatoshi (1992). The Japanese Economy. (Cambridge, Mass.:  MIT Press).
Jack, Andrew (2000). The French Exception. (London: Profile Books).
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