https://hdl.handle.net/10419/306 Mon, 05 Oct 2026 09:50:47 GMT 2026-10-05T09:50:47Z https://hdl.handle.net/10419/315958 Title: "A concentration of private power without equal in history": Economic concentration and the investigations of the Temporary National Economic Committee (1938-41) Authors: VanLear, William; Hutchinson, Daniel Abstract: This manuscript presents a detailed summary and reassessment of the 1941 final report of the Temporary National Economic Committee (TNEC). We portion the manuscript into four major parts: background, major themes, assessment of the report, and additional analysis and reflection. In the first section, we cover what compelled the government's investigation and we identify the committee's makeup and mission. We also identify eight historical precedents for the report. In the major themes section, we provide a detailed layout of the TNEC's "monopoly investigation" and its search for what structural impediments may have existed to economic recovery during the 1930s. The themes include competition, concentration, technology, trade barriers, business investment, small business, and fiscal and monetary policy. Part 3 assesses the report by looking at one important early assessment completed in the 1940s. We identify three TNEC concerns, namely the (1) development of oligopoly, (2) savings-investment imbalance, and (3) war mobilization and democracy. Part 3 understands the TNEC report from an institutionalist or stage theory perspective of history and economics. This part ends with a review of conservative thinking at the time of the report and shortly thereafter. The final section looks at the connection between the institutional context of the economy and the economy's economic performance. It is clear that the TNEC understood that systemic economic change had occurred since the Gilded Age, and that the economy had become oligopolized well before the Great Depression. The committee came to believe that the evolution of the economic system into a concentrated corporate one had increased inequality, the effect of which was to boost the volume of savings while retarding the level of investment. Wed, 01 Jan 2025 00:00:00 GMT https://hdl.handle.net/10419/315958 2025-01-01T00:00:00Z https://hdl.handle.net/10419/315967 Title: The rise and rise of feminist macroeconomics: Who's recognizing? Authors: Berik, Günseli; Kongar, Ebru Abstract: Macroeconomics is arguably the most male-dominated field within the discipline of economics. Since the mid-1990s, feminist economists have thoroughly and meticulously challenged this field through empirical and theoretical analyses and proposed alternative starting points, frameworks, and models. We evaluate the contributions of five scholars - Nilüfer Çaægatay, Diane Elson, Caren Grown, Stephanie Seguino, and Elissa Braunstein - who have been influential in the development of feminist macroeconomics as a heterodox project since 1995. Through citation analysis, we examine who is recognizing the macroeconomicsrelated contributions of these five scholars. We document that the journal articles published by these five are cited primarily by women, in mainstream journals, in disciplines other than economics, and in interdisciplinary journals both in and outside of economics. Our analysis reveals that the impact of the five scholars in heterodox macroeconomics journals is miniscule, and the citations of their works are primarily made by other feminist economists, most of whom are women. Wed, 01 Jan 2025 00:00:00 GMT https://hdl.handle.net/10419/315967 2025-01-01T00:00:00Z https://hdl.handle.net/10419/315904 Title: The high cost of the strong peso and its temporary nature: The case of Mexico Authors: Huerta González, Arturo Abstract: The article analyzes why exchange rate stability has been prioritized in Mexico and why the national currency has appreciated; which policies and factors have made this possible, the costs and consequences of the strong peso, and its sustainability and temporality are also examined. Mexico's economy does not have the endogenous conditions necessary to maintain such a strong currency-which has relied on the inflow of capital, thus exposing the economy to high vulnerability vis-à-vis the behavior of capital flows. The exchange rate stability has been very costly, due to the fact that there is no longer an economic policy in favor of growth; furthermore, the entry of capital leads to continuous productive imbalances which are behind the external deficit. In essence, Mexico has fallen into the Ponzi effect, whereby debt covers the deficit and pays off debt. This article posits that an effective, flexible exchange rate should be used to lower the interest rate and increase public spending in favor of growth and employment, and that economic policy should aim to encourage import substitution and increase the domestic value added of exports in order to reduce the external deficit and capital inflow requirements. This should be accompanied by regulating the movement of goods and capital to avoid speculation and protect domestic production from imports, in turn allowing for a more flexible economic policy in favor of the productive sector and employment. Lastly, the article proposes that the economy should be financed with its own currency to boost growth potential and reduce the foreign trade deficit in order to avoid relying on external financing. Wed, 01 Jan 2025 00:00:00 GMT https://hdl.handle.net/10419/315904 2025-01-01T00:00:00Z https://hdl.handle.net/10419/315922 Title: The rise of the modern monetary system: An integration of the credit and state money approaches Authors: Wray, L. Randall Abstract: This working paper integrates the credit money approach (associated with Post Keynesian endogenous money theory) with the state money approach (associated with Modern Money Theory) by drawing on Wray's 1990 book (Money and Credit in Capitalist Economies: The Endogenous Money Approach, Edward Elgar), his 1998 book (Understanding Modern Money: the Key to Full Employment and Price Stability, Edward Elgar), and his 2004 edited book (Credit and State Theories of Money: The Contributions of A. Mitchell Innes, Edward Elgar). New sources and interpretation of the history of money make it clear that there is no contradiction between state money and private credit money-each played a role in the creation of the modern monetary system. Indeed, today's system was created by bringing state money into the private money giro, thereby strengthening both. Wed, 01 Jan 2025 00:00:00 GMT https://hdl.handle.net/10419/315922 2025-01-01T00:00:00Z