European monetary union and a single currency are at the heart of the 1991 Maastricht Treaty that transformed the European Community into a European Union. Were the financial plans too ambitious? What are the costs and benefits of a single currency and a uniform monetary policy? This article...

The origins of Wall Street are tied to Alexander Hamilton's plans for the financing of the new nation and the funding of its debt. The two hundredth anniversary of Wall Street in 1992 occasioned many retrospectives that owe more to mythology than to historical veracity. Wall Street's earliest...

Then in his second semester at Eastern District High School, he gave up working in school altogether. "I don't really know why, and I don't want to rational ize about it, but it may have been that I had been systematically de-educated. With all the emphasis on discipline, all the fire gets...

This paper seeks to explain trends in United States corporate profitability since World War II through an analysis of the rise and subsequent demise of a postwar social structure of accumulation (SSA). Building from a formal model of the determinants of profitability, we provide econometric...

David Gordon was a pioneer in the burgeoning field of institutional growth economics, introducing the concept of a ‘social structure of accumulation’, and richly illustrating its usefulness with both econometric and historical studies. Gordon also helped to develop the theory of segmented...