The Invisible Handcuffs of Capitalism: How Market Tyranny Stifles the Economy by Stunting Workers (45 page)

13.
Christopher J. Ruhm, “Are Recessions Good for Your Health?,”
Quarterly Journal of Economics
, Vol. 115, No. 2 (May 2000): 617–650.

14.
Ken Ward, Jr., “Congressional Report: Bayer Blast ‘Could Have Eclipsed’ Bhopal,”
The Charleston Gazette,
April 21, 2009.

15.
Chesley B. Sullenberger, “Statement before the Subcommittee on Aviation Committee on Transportation and Infrastructure,” United States House of Representatives, February 24, 2009,
http://transportation.house.gov/Media/file/Aviation/20090224/Sullenberger.pdf
.

16.
Andy Pasztor, “Crash Probe Examines Pilot Fatigue,”
Wall Street Journal
, May 14, 2009, A 1.

17.
Andy Pasztor, “Captain’s Training Faulted in Air Crash that Killed 50,”
Wall Street Journal,
May 11, 2009, A 1.

18.
Sholnn Freeman, “Colgan Air Pilots Faced Long Commutes, Low Pay, Second Jobs,”
Washington Post,
May 13, 2009.

19.
Adam Smith,
An Inquiry into the Nature and Causes of the Wealth of Nations
, 2 vols., eds. R. H. Campbell and A. S. Skinner (1789; New York: Oxford University Press, 1976), II.ii.7, 287, II.v. 12, 363.

20.
Sir William Petty,
Treatise of Taxes and Contributions
(1662) in
The Writings of Sir William Petty
, Vol. 1, ed. C. H. Hull (Cambridge: Cambridge University Press, 1899; New York: Augustus M. Kelley, 1963), 44–45.

21.
Smith,
An Inquiry into the Nature and Causes of the Wealth of Nations,
I.v.2, 47.

22.
Ibid., I.viii.44, 99.

23.
Robert H. Wiebe,
The Search for Order, 1877–1920
(New York: Hill and Wang, 1967), xiii.

24.
Arthur Twining Hadley,
Railroad Transportation: Its History and Its Laws
, 10th ed. (New York: G. P. Putnam’s and Sons, 1903), 65.

25.
Stanley Lebergott,
The Americans: An Economic Record
(New York: Norton, 1984), 131.

26.
David Nasaw,
Andrew Carnegie
(New York: Penguin, 2006), 99.

27.
Henry Adams,
The Education of Henry Adams
(1918; Boston: Houghton Mifflin, 1961), 249–50.

28.
Anthony Patrick O’Brien, “Factory Size, Economies of Scale, and the Great Merger Wave of 1898–1902,”
Journal of Economic History
, Vol. 48, No. 3 (September 1988): 639–49.

29.
Francis Wheen,
Karl Marx: A Life
(New York: Norton 2000), 330–35.

30.
John Rae, “The Socialism of Karl Marx and the Young Hegelians,”
Contemporary Review
, Vol. 40 (October 1881): 585.

31.
Alfred Marshall, “Letter to Herbert Somerton Foxwell” (October 6, 1903), in ed. John K. Whitaker,
The Correspondence of Alfred Marshall
, Vol. 3,
Towards the Close, 1903–1924
(Cambridge: Cambridge University Press, 1996), 61–63.

32.
Senator George Hoar, “Speech on Wages and Hours of Labor: United States Congress,”
The Congressional Globe
, December 13, 1879, Vol. 27, Part 2, 102.

33.
Arthur Twining Hadley, “Letter to E. D. Worcester” (July 29, 1879); cited in Hadley, Morris,
Arthur Twining Hadley
(New Haven: Yale University Press, 1948), 32.

34.
See Michael Perelman,
Railroading Economics: The Creation of the Free Market Mythology
(New York: Monthly Review Press, 2006), 98–99.

35.
Ronald L. Meek, “Marginalism and Marxism,”
History of Political Economy
, Vol. 4 (1972): 499–511; reprinted in Ronald Meek,
Smith,
Marx, and After: Ten Essays in the Development of Economic Thought
(New York: Wiley, 1977): 165–75.

36.
William Stanley Jevons,
The Theory of Political Economy
(1871; Baltimore: Penguin, 1970), 86.

37.
William Stanley Jevons, “The Mathematical Theory of Political Economy,”
Journal of the Statistical Society of London
, Vol. 37, No. 4 (December 1874): 485.

38.
William Stanley Jevons,
The State in Relation to Labour
(New York: A. M. Kelley, 1968), 100–101.

39.
Armen A. Alchian and Harold Demsetz, “Production, Information Costs, and Economic Organization,”
American Economic Review
, Vol. 62, No. 5 (December 1972): 777.

40.
Gregory Clark, “Factory Discipline,”
Journal of Economic History
, Vol. 54, No. 1 (March 1994): 128.

41.
Clark Nardinelli, “Corporal Punishment and Children’s Wages in 19th Century Britain,”
Explorations in Economic History
, Vol. 19, No. 3 (July 1982): 289.

42.
Steven Cheung, “The Contractual Nature of the Firm,”
Journal of Law and Economics
, Vol. 26, No. 1 (April 1983): 5.

43.
Abba Lerner, “The Economics of Politics and Consumer Sovereignty,”
American Economic Review
, Vol. 62, No. 2 (May 1972): 259.

44.
William Stanley Jevons, “Opening Address as President of Section F (Economic Science and Statistics) of the British Association for the Advancement of Science,”
Methods of Social Reform and Other Papers
(London: Macmillan and Co., 1883), 195.

45.
Walter Bagehot,
The Postulates of English Political Economy
(New York and London: G. P. Putnam, 1885), 4.

46.
Henry Varnum Poor,
Money and Its Laws, Embracing a History of Monetary Theories and a History of the Currencies of the United States
(London: C. Kegan Paul and Co., 1877), 392.

47.
Robert Solow, “What Do We Know that Amasa Walker Didn’t?”
History of Political Economy
, vol. 19, No. 2 (Summer 1987); 183–89.

48.
Francis Amasa Walker, “The Present Standing of Political Economy,”
Sunday Afternoon
(May): 432–41.

49.
John Maloney,
Marshall, Orthodoxy and the Professionalisation of Economics
(Cambridge: Cambridge University Press, 1985), 9; citing Leslie Stephen,
The Life of Henry Fawcett
(London: Smith, Elder & Co., 1885), 123.

50.
Peter D. Groenewegen,
A Soaring Eagle: Alfred Marshall, 1842–1924
(Brookfield, VT: Edgar Elgar, 1995), 532–34.

51.
Ibid., 129.

52.
H. S. Foxwell, “The Economic Movement in England,”
Quarterly Journal of Economics
, Vol. 2, No. 1 (October 1887): 92.

53.
Alfred Marshall and Mary Paley Marshall,
The Economics of Industry
(London: Macmillan 1879), 2.

54.
See Maloney,
Marshall, Orthodoxy and the Professionalisation of Economics,
130–33.

55.
Joseph A. Schumpeter,
History of Economic Analysis
(New York: Oxford University Press, 1954), 1115.

56.
Henry Dunning Macleod,
On the Modern Science of Economics
(London: John Heywood, 1887), 111.

57.
Henry Dunning Macleod,
An Address to the Board of Electors to the Professorship of Political Economy in the University of Cambridge
(London, 1884), 12; cited in Timothy Alborn, “Review of Philip Mirowski’s
More Heat than Light: Economics as Social Physics, Physics as Nature’s Economics
,”
Isis
, Vol. 82, No. 2 (June 1991): 354.

58.
Philip Mirowski,
More Heat than Light: Economics as Social Physics, Physics as Nature’s Economics
(Cambridge: Cambridge University Press, 1989), 217.

59.
Ibid., 31.

60.
Ibid., 241–49.

61.
Alfred Marshall,
Principles of Economics: An Introductory Volume
, 8th ed. (London: Macmillan & Co., 1920), 1.

62.
Groenewegen,
A Soaring Eagle,
323 and ch. 15.

63.
Maloney,
Marshall, Orthodoxy and the Professionalisation of Economics
, 24.

64.
Joan Robinson,
Economic Philosophy
(Chicago: Aldine, 1962), 74.

65.
Mirowski,
More Heat than Light,
264.

66.
Alfred Marshall, “Fragment,” reprinted in Alfred C. Pigou, ed.,
Memorials of Alfred Marshall
(New York: Kelley and Millman, 1956; 1st ed., 1925), 366–67.

67.
Groenewegen,
A Soaring Eagle,
729.

68.
Martin S. Feldstein, “Reducing Poverty Not Inequality,”
Public Interest
(Fall 1999): 34.

69.
Richard A. Lester, “Notes of Wages and Labor Costs,”
Southern Economic Journal
, Vol. 10, No. 3 (January 1944): 235–38.

70.
Thomas Sowell, “A Student’s Eye View of George Stigler,”
Journal of Political Economy
, Vol. 101, No. 5 (October 1993): 787.

71.
Craig Freedman, “The Economist as Mythmaker—Stigler’s Kinky Transformation,”
The Journal of Economic Issues
, Vol. 29, No. 1 (1995): 194.

72.
George J. Stigler,
The Theory of Price,
4th ed. (New York: Macmillan, 1987), 99.

73.
George J. Stigler,
The Citizen and the State: Essays on Regulation
(Chicago: University of Chicago Press, 1975), x.

74.
George J. Stigler, “Do Economists Matter?,”
Southern Economic Journal
, Vol. 42, No. 3, (1976): 347–54; reprinted in
The Economist as Preacher
(Oxford: Basil Blackwell, 1982): 54–67.

75.
David Card and Alan B. Krueger, “Minimum Wages and Employment: A Case Study of the Fast-Food Industry in New Jersey and Pennsylvania,”
American Economic Review
, Vol. 84, No. 4 (September 1994): 772–93.

76.
Douglas Clement, “Interview with David Card,”
The Region
(a publication of the Federal Reserve Bank of Minneapolis): December 2006.

77.
Merton Miller, “Commentary on the Minimum Wage,”
Wall Street Journal
, April 25, 1996, A 20.

78.
James M. Buchanan, “Commentary on the Minimum Wage,”
Wall Street Journal,
April 25, 1996, A 20.

79.
Clement, “Interview with David Card.”

80.
Cited in Paul Diesing, “Hypothesis Testing and Data Interpretation: The Case of Milton Friedman,”
Research in the History of Economic Thought and Methodology
, Vol. 3 (Greenwich, CT: JAI Press, 1985), 61.

81.
Craig Freedman, personal communication, August 18, 2008.

82.
Donald N. McCloskey,
The Rhetoric of Economics
(Madison: The University of Wisconsin Press, 1985), 140.

83.
Melvin W. Reder, “Chicago Economics: Permanence and Change,”
Journal of Economic Literature
, Vol. 20, No. 1 (March 1982): 13, 18, 19.

84.
Charles Kindleberger,
Manias, Panics, and Crashes
(New York: Basic Books, 2000), 235.

85.
George J. Stigler, “Charles Babbage (1791 + 200 = 1991),”
Journal of Economic Literature
, Vol. 29, No. 3 (September 1991): 1149.

86.
Charles Babbage,
On the Economy of Machinery and Manufactures
(1835; New York: Augustus M. Kelley, 1971), 156; cited in Stigler, “Charles Babbage (1791 + 200 = 1991),” 1150.

87.
Research Center for Behavioral Economics and Decision-Making, Federal Reserve Bank of Boston, “Implications of Behavioral Economics for Economic Policy,” Conference, September 27–28, 2007,
http://www.bos.frb.org/economic/conf/BehavioralPolicy2007/index.htm
.

88.
“The Perils of Prosperity: Can You Be Too Rich?,”
The Economist
, April 27, 2006.

89.
Martin S. Feldstein, “Structural Reform of Social Security,”
The Journal of Economic Perspectives
, Vol. 19, No. 2 (Spring 2005): 36.

90.
Frank H. Knight, “Ethics and Economic Reform,”
Economica
, Vol. 6, No. 21 (February 1939): 21.

91.
Norman Joseph Ware,
The Industrial Worker, 1840–1860
(Boston: Houghton-Mifflin, 1924), 76–77.