The American Journal of Economics and Sociology is a peer-reviewed academic journal established in 1941 by Will Lissner with support from the Robert Schalkenbach Foundation. The purpose of the journal was to create a forum for continuing discussion of the issues raised by Henry George, a political economist, social philosopher, and political activist of the late 19th century. The editor-in-chief is Clifford W. Cobb.
|The American Journal of Economics and Sociology|
|Discipline||Political economics, social philosophy|
|Edited by||Frederic S. Lee|
Wiley-Blackwell (United States)
|Am. J. Econ. Sociol.|
The journal is abstracted and indexed in:
According to the Journal Citation Reports, the journal has a 2011 impact factor of 0.302, ranking it 107th out of 138 journals in the category "Sociology" and 261st out of 321 journals in the category "Economics".
Anna George de Mille (1878 – 1947) was an American feminist and Georgism advocate. She was the mother of Agnes de Mille.Armchair theorizing
Armchair theorizing, armchair philosophizing, or armchair scholarship is an approach to providing new developments in a field that does not involve the collection of new information but, rather, a careful analysis or synthesis of existent scholarship, especially frivolously or superficially so.Economic rent
In economics, economic rent is any payment to an owner or factor of production in excess of the costs needed to bring that factor into production. In classical economics, economic rent is any payment made (including imputed value) or benefit received for non-produced inputs such as location (land) and for assets formed by creating official privilege over natural opportunities (e.g., patents). In the moral economy of neoclassical economics, economic rent includes income gained by labor or state beneficiaries of other "contrived" (assuming the market is natural, and does not come about by state and social contrivance) exclusivity, such as labor guilds and unofficial corruption.
In the moral economy of the economics tradition broadly, economic rent is opposed to producer surplus, or normal profit, both of which are theorized to involve productive human action. Economic rent is also independent of opportunity cost, unlike economic profit, where opportunity cost is an essential component. Economic rent is viewed as unearned revenue while economic profit is a narrower term describing surplus income earned by choosing between risk-adjusted alternatives. Unlike economic profit, economic rent cannot be theoretically eliminated by competition because any actions the recipient of the income may take such as improving the object to be rented will then change the total income to contract rent. Still, the total income is made up of economic profit (earned) plus economic rent (unearned).
For a produced commodity, economic rent may be due to the legal ownership of a patent (a politically enforced right to the use of a process or ingredient). For education and occupational licensing, it is the knowledge, performance, and ethical standards, as well as the cost of permits and licenses that are collectively controlled as to their number, regardless of the competence and willingness of those who wish to compete on price alone in the area being licensed. In regard to labor, economic rent can be created by the existence of mass education, labor laws, state social reproduction supports, democracy, guilds, and labor unions (e.g., higher pay for some workers, where collective action creates a scarcity of such workers, as opposed to an ideal condition where labor competes with other factors of production on price alone). For most other production, including agriculture and extraction, economic rent is due to a scarcity (uneven distribution) of natural resources (e.g., land, oil, or minerals).
When economic rent is privatized, the recipient of economic rent is referred to as a rentier.
By contrast, in production theory, if there is no exclusivity and there is perfect competition, there are no economic rents, as competition drives prices down to their floor.Economic rent is different from other unearned and passive income, including contract rent. This distinction has important implications for public revenue and tax policy. As long as there is sufficient accounting profit, governments can collect a portion of economic rent for the purpose of public finance. For example, economic rent can be collected by a government as royalties or extraction fees in the case of resources such as minerals and oil and gas.
Historically, theories of rent have typically applied to rent received by different factor owners within a single economy. Hossein Mahdavy was the first to introduce the concept of "external rent", whereby one economy received rent from other economies.Frederic Sterling Lee
Frederic Sterling Lee (November 24, 1949 – October 23, 2014) was an American heterodox economist. His primary theoretical contribution to heterodox economics lies in the areas of pricing, price, production, costs, market competition, market governance, and the modeling the economy as a disaggregated, emergent whole. He was the founding editor of the Heterodox Economics Newsletter (2004–09), the editor of the American Journal of Economics and Sociology (2009–13), the president of the Association for Institutional Thought (2012), the president of the Association for Evolutionary Economics (2015), and the founder and honorary life president of the Association for Heterodox Economics. Lee authored and edited seventeen books, including Post Keynesian Price Theory (1998), A History of Heterodox Economics (2009), and Microeconomic Theory: A Heterodox Approach (2017). He published fifty-six articles and over a hundred book chapters, book entries, book reviews, and notes of one sort or another.Georgism
Georgism, also called geoism and single tax (archaic), is an economic philosophy holding that, while people should own the value they produce themselves, economic value derived from land (often including natural resources and natural opportunities) should belong equally to all members of society. Developed from the writings of the economist and social reformer Henry George, the Georgist paradigm seeks solutions to social and ecological problems, based on principles of land rights and public finance which attempt to integrate economic efficiency with social justice.Georgism is concerned with the distribution of economic rent caused by natural monopolies, pollution, and the control of commons, including title of ownership for natural resources and other contrived privileges (e.g., intellectual property). Any natural resource which is inherently limited in supply can generate economic rent, but the classical and most significant example of 'land monopoly' involves the extraction of common ground rent from valuable urban locations. Georgists argue that taxing economic rent is efficient, fair, and equitable. The main Georgist policy recommendation is a tax assessed on land value. Georgists argue that revenues from a land value tax (LVT) can be used to reduce or eliminate existing taxes (for example, on income, trade, or purchases) that are unfair and inefficient. Some Georgists also advocate for the return of surplus public revenue to the people by means of a basic income or citizen's dividend.
Economists since Adam Smith and David Ricardo have observed that, unlike other taxes, a public levy on land value does not cause economic inefficiency. A land value tax also has progressive tax effects, in that it is paid primarily by the wealthy (the landowners), and it cannot be passed on to tenants, workers, or users of land. Advocates of land value taxes argue that they would reduce economic inequality, increase economic efficiency, remove incentives to under-utilize urban land, and reduce property speculation. The philosophical basis of Georgism dates back to several early thinkers such as John Locke, Baruch Spinoza, and Thomas Paine, but the concept of gaining public revenues mainly from land and natural resource privileges was widely popularized by Henry George and his first book, Progress and Poverty (1879).
Georgist ideas were popular and influential during the late 19th and early 20th century. Political parties, institutions and communities were founded based on Georgist principles during that time. Early devotees of Henry George's economic philosophy were often termed Single Taxers for their political goal of raising public revenue mainly from a land value tax, although Georgists endorsed multiple forms of rent capture (e.g., seigniorage) as legitimate. The term Georgism was invented later, and some prefer the term geoism to distinguish their beliefs from those of Henry George.Harry Gunnison Brown
Harry Gunnison Brown (1880–1975) was a Georgist economist teaching at Yale in the early 20th century. Paul Samuelson named Brown in a list of "American saints in economics" that included only 6 other economists born after 1860.Hilda Weiss
Hilda Weiss (29 August 1900 – 29 May 1981; alternatively Hilde Weiss, Hilde Rigaudias-Weiss, Hilda Weiss Parker, Hilde Weiß) was a sociologist, trade unionist, and socialist. She lived in Germany until 1933 when Hitler came to power, then escaped to France. In 1939 she emigrated to the United States and lived there until her death in 1981.Janet Cooke
Janet Leslie Cooke (born July 23, 1954) is a former American journalist. She won a Pulitzer Prize in 1981 for an article written for The Washington Post. The story was later discovered to have been fabricated. Cooke subsequently returned the Pulitzer, the only person to date to do so, after admitting she had fabricated stories. The Pulitzer was subsequently awarded to Teresa Carpenter, a nominee who had lost to Cooke.Joshua K. Ingalls
Joshua K. Ingalls (July 16, 1816 – 1898), born in Swansea, Massachusetts, was an inventor, and land reformer who influenced contemporary individualist anarchists despite never self-identifying as one. He was an associate of Benjamin Tucker and the "Boston anarchists." He believed that government protection of idle land was the foundational source of all limitations on individual liberty. This was in disagreement with Tucker who, while also opposing protection of idle land, believed that government protection of the "banking monopoly" was the greatest evil.Knights of Labor
Knights of Labor (K of L), officially Noble and Holy Order of the Knights of Labor, was an American labor federation active in the late 19th century, especially the 1880s. Its most important leaders were Terence V. Powderly and step-brother Joseph Bath. The Knights promoted the social and cultural uplift of the workingman, rejected socialism and anarchism, demanded the eight-hour day, and promoted the producers ethic of republicanism. In some cases it acted as a labor union, negotiating with employers, but it was never well organized, and after a rapid expansion in the mid-1880s, it suddenly lost its new members and became an operation again.
It was founded by Uriah Stephens on December 28, 1869, reached 28,000 members in 1880, then jumped to 100,000 in 1884. By 1886, 20% of all workers were affiliated with the KOL, ballooning to nearly 800,000 members. Its frail organizational structure could not cope as it was battered by charges of failure and violence and calumnies of the association with the Haymarket Square riot. Most members abandoned the movement in 1886–1887, leaving at most 100,000 in 1890. Many of them chose to join groups that helped to identify their specific need, instead of the KOL that addressed many different types of issues. Furthermore, the Panic of 1893 terminated the Knights of Labor's importance. Remnants of the Knights of Labor continued in existence until 1949, when the group's last 50-member local dropped its affiliation.Laurence S. Moss
Laurence S. Moss (1944–2009) was an American economist who specialized in history of economic thought and economics of entrepreneurship. He earned his PhD in economics at Columbia University , and later earned a law degree from Suffolk University. Moss was the leading expert on the economics of Mountifort Longfield. His doctoral dissertation was published as Mountiford Longfield: Irelands's First Professor of Political Economy. He served as the editor-in-chief of the American Journal of Economics and Sociology from 1997 until the end of his life in 2009.List of sociology journals
This list presents representative academic journals covering sociology and its various subfields.Mason Gaffney
Mason Gaffney (born October 18, 1923) is an American economist and a major critic of Neoclassical economics from a Georgist point of view. He earned his B.A. in 1948 from Reed College in Portland, Oregon. Gaffney first read Henry George's masterwork Progress and Poverty as a high school junior. After serving in the southwest Pacific during World War II, this interest led him in 1956 to get a Ph.D. in Economics at the University of California, Berkeley. There he addressed his teachers' skepticism about Georgism with a dissertation entitled "Land Speculation as an Obstacle to Ideal Allocation of Land." Gaffney has been Professor of Economics at the University of California, Riverside since 1976.Metrotown, Burnaby
Metrotown is a town centre serving the southwest quadrant of Burnaby, British Columbia, Canada. It is one of the city's four officially designated town centres, as well as one of Metro Vancouver's regional town centres.As officially defined by the City of Burnaby, the town centre is bounded on the west by Boundary Road (taking in Central Park), on the south by Imperial Street, on the east by Royal Oak Avenue, and on the north by a series of local streets (Thurston, Bond, Grange and Dover streets), giving an area of 2.97 km2 (730 acres). Kingsway forms the central commercial spine for the neighbourhood, and is paralleled to the south by the SkyTrain tracks running alongside Central Boulevard.
The area is served by Patterson and Metrotown SkyTrain stations, while Royal Oak station sits just beyond the southeastern limits of the district. The area is characterised by its many high rise commercial and residential buildings.Modern typography
Modern typography was a reaction against the perceived decadence of typography and design of the late 19th century. It is mostly associated with the works of Jan Tschichold and Bauhaus typographers Herbert Bayer, László Moholy-Nagy, El Lissitzky and others.Open system (systems theory)
An open system is a system that has external interactions. Such interactions can take the form of information, energy, or material transfers into or out of the system boundary, depending on the discipline which defines the concept. An open system is contrasted with the concept of an isolated system which exchanges neither energy, matter, nor information with its environment. An open system is also known as a constant volume system or a flow system.
The concept of an open system was formalized within a framework that enabled one to interrelate the theory of the organism, thermodynamics, and evolutionary theory. This concept was expanded upon with the advent of information theory and subsequently systems theory. Today the concept has its applications in the natural and social sciences.
In the natural sciences an open system is one whose border is permeable to both energy and mass. In thermodynamics a closed system, by contrast, is permeable to energy but not to matter.
The definition of an open system assumes that there are supplies of energy that cannot be depleted; in practice, this energy is supplied from some source in the surrounding environment, which can be treated as infinite for the purposes of study. One type of open system is the radiant energy system, which receives its energy from solar radiation – an energy source that can be regarded as inexhaustible for all practical purposes. A closed system contains limited energies.Rampart College
Rampart College (also called Freedom College and Freedom School) was a libertarian educational institution established by Robert LeFevre in Colorado, United States in 1956. The college was an unaccredited four-year school for classical liberals and individualist anarchists. Teachers at the college included Butler Shaffer and Sy Leon, who ran the college after it moved to Southern California in 1966.Steven Pressman (economist)
Steven Pressman (born February 23, 1952 in Brooklyn, New York) is an American economist. He is a former Professor of Economics and Finance at Monmouth University in West Long Branch, NJ. He has taught at the University of New Hampshire and Trinity College in Hartford, Connecticut.He has served as co-editor of the Review of Political Economy since 1995, as Associate Editor and Book Review Editor of the Eastern Economic Journal since 1989, and a member of the Editorial Advisory Board of the journal Basic Income Studies since 2005.He has been on the Board of Directors of the Eastern Economic Association from 1994 to the present, and since 1996 he has served as Treasurer of the group. In addition he has been a regular book reviewer for "Dollars and Sense" since 2010.