We write this essay for both lay readers and scientists, though mainstream economists are welcome to enjoy it too. Our subject is the basic toolbox of mainstream economics. The most important tools in this box are demand, supply and equilibrium. All mainstream economists – as well as many...

During the last 150 years, shoe manufacturing in the U.S. has gone from one of the largest employers in manufacturing to one of the smallest, yet some firms have survived and remained profitable. This study examines the role of changing methods of compensation in shoe manufacturing, in a sector...

This published essay discusses the processes that led to the decline of New England's traditional industries and to the creation of its depressed milltowns. It argues that the decline of the New England textile and shoe industries was part of the maturation of industrial capitalism, making New...