Challenge articles

663 total articles

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More back issues from Challenge: 1 2

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Letter from the editor.
November 1, 2002 ... THIS ENTIRE ISSUE IS DEVOTED TO THE FAILURES OF THE MARKET. Our premise is simple. The resurgence of what Nobel laureate George Akerlof refers to in his recent acceptance speech as new classical economics has on balance damaged the usefulness...

On making economics realistic. (The Market Failures Issue).
November 1, 2002 ... Q You presented in your Nobel Prize acceptance speech a broad criticism of conventional economics based on your own work in asymmetric information and behavioral economics. You started with what has become your famous piece on the used car...

Why there is chronic excess capacity. (The Market Failures Issue).
November 1, 2002 ... IN THE AFTERMATH OF THE GREAT DEPRESSION WORLD WAR II, national economies, even those in which markets played a very powerful role, were placed under the ultimate control of governments, while international economic relations were explicitly...

The feminist challenge to economics. (The Market Failures Issue).
November 1, 2002 ... WHEN ASKED TO SPEAK ON THE SUBJECT OF "WOMEN AND FICTION," Virginia Woolf once mused that the suggestion may have meant for her to discuss "women and what they are like; or it might mean women and the fiction that they write; or it might mean...

Destabilizing an Unstable Economy. (The Market Failures Issue).
November 1, 2002 ... IN HIS 1986 BOOK, STABILIZING AN UNSTABLE ECONOMY, Hyman Minsky argued that the major flaw of modem capitalism is that it is unstable. But Minsky also insisted that business cycles could be moderated--and that another depression could be...