Steven Pressman
Biographic Data
| ID | 388097 |
|---|---|
| NAME | Steven Pressman |
| GIVEN NAMES | Steven |
| FAMILY NAME | Pressman |
| SIGNATURE | PRESSMAN S |
| AFFILIATIONS | Monmouth University |
| ORCID | 0009-0000-0398-8024 |
| VERIFIED | Yes |
| TOTAL WORKS | 56 |
| TOTAL CITATIONS | 54 |
| AUTHOR COUNT | 54 |
| EDITOR COUNT | 2 |
| FIRST PUBLICATION YEAR | 1989 |
| LATEST PUBLICATION YEAR | 2025 |
| H-INDEX | 4 |
Secular Stagnation After Piketty and Keynes
Understanding Moral Sentiments from a Darwinian Perspective
Artificial-Intelligence-Based Clinical Decision Support Systems in Primary Care
Primary Care Physicians (PCPs) are the first point of contact in healthcare. Because PCPs face the challenge of managing diverse patient populations while maintaining up-to-date medical knowledge and updated health records, this study explores the current outcomes and effectiveness of implementing Artificial Intelligence-based Clinical Decision Support Systems (AI-CDSSs) in Primary Healthcare (PHC). Following the PRISMA-ScR guidelines, we systema…
Comparative Analysis of Artificial Intelligence Virtual Assistant and Large Language Models in Post-Operative Care
In postoperative care, patient education and follow-up are pivotal for enhancing the quality of care and satisfaction. Artificial intelligence virtual assistants (AIVA) and large language models (LLMs) like Google BARD and ChatGPT-4 offer avenues for addressing patient queries using natural language processing (NLP) techniques. However, the accuracy and appropriateness of the information vary across these platforms, necessitating a comparative st…
Dealing with Rising Inequality
Recently, considerable research effort has been devoted to studying the impact of monetary policy on inequality. This paper summarizes the literature on the causes of rising inequality and looks at the empirical work on interest rates and inequality. It argues that growing empirical evidence concerning the impact of monetary policy on inequality is mixed and that the conflicting results concerning monetary policy and inequality involve, to a larg…
Postal banking and US cash transfer programs
Direct cash transfers to households during the COVID-19 pandemic, including relief checks and Child Tax Credit payments, were delayed by weeks for recipients without bank accounts and were not received by many non-filers who lacked the time or resources to complete necessary paperwork. A postal banking system has the potential to expand access to financial infrastructure and enable the rapid distribution of resources to households in need during …
Accumulating Capital
Thomas Piketty’s blockbuster Capital in the Twenty-First Century was followed by the publication of Capital and Ideology in early 2020. This paper looks at the differences between the two books, and provides an analysis and a critique of the main advances in the new book. First, Piketty drops r>g as an explanation for rising inequality. Instead, inequality is generated and constrained by economic power supported by an ideology. Second, there is a…
Economics and Sociology
International audience
A Consensus on Taxing the Rich? Comparing Mainstream Economics, Piketty and Post-Keynesian Economics
Over several decades, income has become increasingly concentrated at the top of the distributional pyramid in many rich countries. Raising taxes on top income earners and top wealth owners has gained traction in many policy circles as a way to reverse this inequality surge. This paper examines the views of mainstream economists, Thomas Piketty and Post-Keynesian economists concerning the impact of taxation and optimal tax policy. We show that, in…
Ingrid Hahne Rima (1925–2015)
House arrest
This paper studies the effects of the recent housing crash on small business survival and household geographic mobility. Although a number of other works have studied these issues, our analysis differs from these because we do not focus only on underwater mortgages (less than 0% home equity), but also those slightly above water (0-10% equity). Homeowners with little or no equity face considerable constraints regarding moving, starting a business …
Symposium on Piketty's Capital
Capital in the Twenty-First Century was first published in France in 2013 with the title Le Capital au XXIe Siecle. The French edition runs to over 900 pages. The English version (reduced to less t
Debt-Poor Kids
Child poverty in the United States has averaged around 20% since the late 1970s. During this time period, it has been consistently and considerably higher than poverty rates for other age groups. The case is often made that poverty in the United States is greatly underestimated. The many problems involved in measuring aggregate poverty rate also plague measures of child poverty. This article focuses on how interest payments on prior consumer debt…
The Review of Political Economy at 25
I met John Pheby in the summer 1986, at an international conference held in Toronto. I was participating in a session on Post Keynesian economics with John Smithin and Ingrid Rima. At the time, I w
Microeconomics After Keynes
Post Keynesian economics has mainly focused on macroeconomic issues and ignored microeconomic policy issues. This paper begins to remedy this gap. It outlines the main principles of the Post Keynesian approach, distinguishes them from neoclassical economics, explains how these principles can be applied to microeconomic issues, and then draws out some policy implications that differ markedly from neoclassical theory on the issues of health care an…
A time to return to Keynes
Purpose This paper seeks compare the current financial and economic problems with the problems facing the world economy in the 1930s. Design/methodology/approach The paper argues that the Great Depression and the current problems have similar causes – excessive speculation, leading to a financial collapse that then results in an economic collapse. It then looks at the work of John Maynard Keynes to help solve the current problems. Findings The pa…
John Derek Pheby, October 24, 1949–October 21, 2008
Consumer Debt and the Measurement of Poverty and Inequality in the US∗
This paper argues that interest on consumer debt must be taken into account when measuring poverty and inequality. These interest payments cannot be used to support household living standards. This makes middle- and low-income households worse off. Recent increases in consumer debt means that this deterioration in living standards is not captured by conventional government statistics. Using the Survey of Consumer Finances, we make estimates of po…
John Kenneth Galbraith and the Post Keynesian Tradition in Economics
This paper discusses some of the key contributions of John Kenneth Galbraith to economics and puts them into an historical context. It argues that the work of Galbraith should be recognized as making major contributions to the Post Keynesian paradigm. His work expands on the contributions made by John Maynard Keynes and is consistent with the main ideas of Post Keynesian thought. Much of his work can be thought of as a Post Keynesian microeconomi…
Expanding the Boundaries of the Economics of Crime
(2008). Expanding the Boundaries of the Economics of Crime. International Journal of Political Economy: Vol. 37, No. 1, pp. 78-100
Robert Heilbroner and the Growing Concern with Poverty in the US
Poverty, Robert Heilbroner, Antipoverty policy
The Decline of the Middle Class
(2007). The Decline of the Middle Class: An International Perspective. Journal of Economic Issues: Vol. 41, No. 1, pp. 181-200.
Alternative Theories of the State
According to standard neoclassical economic theory, institutions do not matter for understanding the process of economic change or why economies operate inefficiently. In contrast, a behavioral approach lets institutional parameters have a substantive impact on the economy. This paper argues that to understand economic efficiency one must understand the bargaining power of different players in the economic game and that this is critically affecte…
Moore on Post-Keynesian Macroeconomics
Shaking the Invisible Hand (Moore 2006) is the newest textbook-like introduction to post-Keynesian economics. It follows in the tradition of Arestis (1992), Chick (1983), Davidson (1994), Kregel (1973), Lavoie (1992), Palley (1996), and Reynolds (1987) seeking to present post-Keynesian ideas clearly, in a way that can help educate graduate students and advanced undergraduate students. It is also geared to post-Keynesian scholars, who can learn a …
A Light in Dark Times
In 1969, Robert Paul Wolff published a brilliant book entitled The Ideal of the University. It set forth (and critiqued) four different visions of what a university should be. First, Wolff discusse
The Economic Contributions of Amartya Sen
This paper examines the major economic contributions of Amartya Sen. Sen's contributions fall into three main areas: a philosophical critique of traditional economic assumptions, an attempt to build a more realistic economic science based on the notion of entitlements and human capabilities, and a long series of practical contributions to welfare economics that follow from the capabilities approach - how to measure poverty and inequality better, …
A Light in Dark Times
In 1969, Robert Paul Wolff published a brilliant book entitled The Ideal of the University. It set forth (and critiqued) four different visions of what a university should be. First, Wolff discusse
The basic income guarantee and social economics
This article introduces the Review of Social Economy symposium on the basic income guarantee (BIG). It argues that there are several ways in which the BIG is consistent with social economics. First, the BIG is an attempt to meet the minimum material needs of US citizens and contribute to the common good. Second, important arguments for a BIG move beyond the positive-normative dichotomy. Finally, the BIG would help individuals function as social c…
The Two Dogmas of Neoclassical Economics
Sen and Capabilities
Simultaneous Multiple Journal Submissions
Because journals taking so long to review submissions, proposals have been made that authors be permitted to send the same paper to several journals at once. This paper argues that such a reform is ill-advised. In particular, it will fail to speed up the reviewing process; it wilt fail to advance the careers of individuals who submit their papers to several journals at once; and it will have negative repercussions for the entire profession, becau…
A Consensus on Taxing the Rich? Comparing Mainstream Economics, Piketty and Post-Keynesian Economics
Over several decades, income has become increasingly concentrated at the top of the distributional pyramid in many rich countries. Raising taxes on top income earners and top wealth owners has gained traction in many policy circles as a way to reverse this inequality surge. This paper examines the views of mainstream economists, Thomas Piketty and Post-Keynesian economists concerning the impact of taxation and optimal tax policy. We show that, in…
The Economic Contributions of John Kenneth Galbraith
Galbraith's principal theoretical contribution is foreshadowed in American capitalism and unfolds more clearly into view in his trilogy The Affluent Society, The New Industrial State and Economics and the Public Purpose. His thesis is that the economic ideas that once explained a world of poverty have not adjusted to a world of affluence dominated by the modern corporation. His main themes are the concentration of economic power in the large corp…
The gender poverty gap in developed countries
This article employs the Luxembourg Income Study (LIS) to compare poverty rates for female-headed families and for other families in a number of developed countries. It then seeks to explain why, in some countries, poverty for female-headed families is so much higher compared to other families. The article finds that there is no single reason for this. Rather, there are many different reasons female-headed families suffer relatively greater pover…
The coming of Keynesianism to America
(1997). The coming of Keynesianism to America: Conversations with the founders of Keynesian economics. The Social Science Journal: Vol. 34, No. 3, pp. 414-416
Consumer Debt and the Measurement of Poverty and Inequality in the US∗
This paper argues that interest on consumer debt must be taken into account when measuring poverty and inequality. These interest payments cannot be used to support household living standards. This makes middle- and low-income households worse off. Recent increases in consumer debt means that this deterioration in living standards is not captured by conventional government statistics. Using the Survey of Consumer Finances, we make estimates of po…
Economic Power, the State, and Post-Keynesian Economics
The notion of power is pretty much absent in contemporary economics. To the extent that neoclassical economists worry about power, their concern is about excessive government power hindering the market. This can occur directly, for example when macroeconomic policies try to affect aggregate economic outcomes, or when government regulations keep firms from producing goods at maximum efficiency. Market distortions can also occur indirectly. As the …
House arrest
This paper studies the effects of the recent housing crash on small business survival and household geographic mobility. Although a number of other works have studied these issues, our analysis differs from these because we do not focus only on underwater mortgages (less than 0% home equity), but also those slightly above water (0-10% equity). Homeowners with little or no equity face considerable constraints regarding moving, starting a business …
Symposium on Piketty's Capital
Capital in the Twenty-First Century was first published in France in 2013 with the title Le Capital au XXIe Siecle. The French edition runs to over 900 pages. The English version (reduced to less t
Debt-Poor Kids
Child poverty in the United States has averaged around 20% since the late 1970s. During this time period, it has been consistently and considerably higher than poverty rates for other age groups. The case is often made that poverty in the United States is greatly underestimated. The many problems involved in measuring aggregate poverty rate also plague measures of child poverty. This article focuses on how interest payments on prior consumer debt…
Microeconomics After Keynes
Post Keynesian economics has mainly focused on macroeconomic issues and ignored microeconomic policy issues. This paper begins to remedy this gap. It outlines the main principles of the Post Keynesian approach, distinguishes them from neoclassical economics, explains how these principles can be applied to microeconomic issues, and then draws out some policy implications that differ markedly from neoclassical theory on the issues of health care an…
Deficits, full employment and the use of fiscal policy
According to orthodox economic wisdom, fiscal policy is incapable of solving the unemployment problem because government deficits crowd out consumer spending, business investment and net exports. This paper argues that neither theoretical nor empirical support exists for such claims. In addition, misplaced and mistaken fears about government deficits have kept national governments from employing fiscal policy when necessary. By abandoning fiscal …
The composition of government spending
This paper divides USA government expenditures into an investment component and a consumption component in three different ways, and seeks to determine whether this distinction has any real world impact. Greater government investment spending is not more likely to get politicians reelected. Nor does government have a larger macroeconomic effect than government consumption spending. Government investment does, however, tend to increase business pr…
Keynes and Philosophy
Other| November 01 1992 Keynes and Philosophy: Essays on the Origin of Keynes's Thought Bradley W. Bateman and John B. Davis. Brookfield, Vt.: Edward Elgar, 1991. $44.95. Steven Pressman Steven Pressman Search for other works by this author on: This Site Google History of Political Economy (1992) 24 (4): 979–980. https://doi.org/10.1215/00182702-24-4-979 Cite Icon Cite Share Icon Share Facebook Twitter LinkedIn MailTo Permissions Search Site Cita…
Keynes and Antipoverty Policy
*0034–6764/91/0901–365/$1.50/0. **An earlier version of this paper was presented at the History of Economics Society meetings in Lexington, Virginia, June 1990. The author thanks John Davis, James Langley, Mark Perlman, and two anonymous referees for their helpful comments. Notes *0034–6764/91/0901–365/$1.50/0. **An earlier version of this paper was presented at the History of Economics Society meetings in Lexington, Virginia, June 1990. The auth…
Conversation
Conversation
Books in review
Keynes and Antipoverty Policy
*0034–6764/91/0901–365/$1.50/0. **An earlier version of this paper was presented at the History of Economics Society meetings in Lexington, Virginia, June 1990. The author thanks John Davis, James Langley, Mark Perlman, and two anonymous referees for their helpful comments. Notes *0034–6764/91/0901–365/$1.50/0. **An earlier version of this paper was presented at the History of Economics Society meetings in Lexington, Virginia, June 1990. The auth…
The Economics of François Quesnay
Other| September 01 1991 The Economics of François Quesnay Gianni Vaggi. Durham: Duke University Press, 1987. 247 pp. $37.50. Steven Pressman Steven Pressman Search for other works by this author on: This Site Google History of Political Economy (1991) 23 (3): 551–552. https://doi.org/10.1215/00182702-23-3-551 Cite Icon Cite Share Icon Share Facebook Twitter LinkedIn Email Permissions Search Site Citation Steven Pressman; The Economics of Françoi…
Keynes and Philosophy
Other| November 01 1992 Keynes and Philosophy: Essays on the Origin of Keynes's Thought Bradley W. Bateman and John B. Davis. Brookfield, Vt.: Edward Elgar, 1991. $44.95. Steven Pressman Steven Pressman Search for other works by this author on: This Site Google History of Political Economy (1992) 24 (4): 979–980. https://doi.org/10.1215/00182702-24-4-979 Cite Icon Cite Share Icon Share Facebook Twitter LinkedIn MailTo Permissions Search Site Cita…
Child Exemptions or Child Allowances
Eliminating Child exempitons and replacing them with a European style child allowance program would be an effective and costless antipoverty policy The distributional and poverty reducing effects of three potentral child allowance programs are examined These include a fixed dollar tax credit a dollar tax credit a tax credit that declines with income, and a taxable allowance of the some dollar amount for each child
Economics and the Philosophy of Science.Value-Free Science
Other| September 01 1993 Economics and the Philosophy of Science.Value-Free Science?: Purity and Power in Modern Knowledge Robert N. Proctor. Cambridge: Harvard University Press, 1991. 331 pp. $34.95. Steven Pressman Steven Pressman Search for other works by this author on: This Site Google History of Political Economy (1993) 25 (3): 553–555. https://doi.org/10.1215/00182702-25-3-553 Cite Icon Cite Share Icon Share Twitter Permissions Search Site…
The composition of government spending
This paper divides USA government expenditures into an investment component and a consumption component in three different ways, and seeks to determine whether this distinction has any real world impact. Greater government investment spending is not more likely to get politicians reelected. Nor does government have a larger macroeconomic effect than government consumption spending. Government investment does, however, tend to increase business pr…
A social economist’s search for justice
Reengineering the Corporation
(1994). Reengineering the Corporation: A Manifesto for Business Revolution by Michael Hammer and James Champy. Challenge: Vol. 37, No. 6, pp. 62-64
Simultaneous Multiple Journal Submissions
Because journals taking so long to review submissions, proposals have been made that authors be permitted to send the same paper to several journals at once. This paper argues that such a reform is ill-advised. In particular, it will fail to speed up the reviewing process; it wilt fail to advance the careers of individuals who submit their papers to several journals at once; and it will have negative repercussions for the entire profession, becau…
Values and Public Policy
This work presents six essays that seek answers to some particular questions. What role can, or should, a democratic government play in shaping values? And, how do values shape the effects of public policy? The contributors identify trends and public policy tools through and by which some of these values might be changed.
Deficits, full employment and the use of fiscal policy
According to orthodox economic wisdom, fiscal policy is incapable of solving the unemployment problem because government deficits crowd out consumer spending, business investment and net exports. This paper argues that neither theoretical nor empirical support exists for such claims. In addition, misplaced and mistaken fears about government deficits have kept national governments from employing fiscal policy when necessary. By abandoning fiscal …
High unemployment in developed economies
(1995). High unemployment in developed economies. Review of Political Economy: Vol. 7, No. 2, pp. 125-132
David M. Gordon, 1944–1996
The Economic Contributions of David M. Gordon
Throughout his too brief career, David Gordon made many contributions to economics. His social structure of accumulation model sought to explain the economic performance of the US based upon whether institutional structures are conducive to profitability and growth. His work in labour economics sought to explain slow productivity and wage growth in the US. And his work in macroeconomics sought to compare and test different macroeconometric models…
The coming of Keynesianism to America
(1997). The coming of Keynesianism to America: Conversations with the founders of Keynesian economics. The Social Science Journal: Vol. 34, No. 3, pp. 414-416
Books in review
Women in the Age of Economic Transformation
Paradigms, Conventions and the Entrepreneur
Criticism of the book by Choi is expressed by Professor Pressman and responded to by the author. Three problems are noted. These deal with ambiguities in the concept of paradigms and conventions, the relationship between them, and how individual feelings of envy and the notion of social conventions fail to provide a good justification for fully supporting entrepreneurship
The gender poverty gap in developed countries
This article employs the Luxembourg Income Study (LIS) to compare poverty rates for female-headed families and for other families in a number of developed countries. It then seeks to explain why, in some countries, poverty for female-headed families is so much higher compared to other families. The article finds that there is no single reason for this. Rather, there are many different reasons female-headed families suffer relatively greater pover…
The Economic Contributions of Amartya Sen
This paper examines the major economic contributions of Amartya Sen. Sen's contributions fall into three main areas: a philosophical critique of traditional economic assumptions, an attempt to build a more realistic economic science based on the notion of entitlements and human capabilities, and a long series of practical contributions to welfare economics that follow from the capabilities approach - how to measure poverty and inequality better, …
The Challenge of Social Economics
(2001). The Challenge of Social Economics: A Review Essay. Review of Social Economy: Vol. 59, No. 1, pp. 109-114
Explaining the Gender Poverty Gap in Developed and Transitional Economies
As economies throughout the world experience large and wrenching changes, poverty has increasingly become a problem in country after country. This is true regardless of whether these changes result from globalization, the economic transition from socialism to capitalism, increasing marketization and privatization, or some other major economic transformation (Aslanbeigui, Pressman, Summerfield 1994; Funk and Mueller 1993; Moghadam 1996). A concomi…
Sen and Capabilities
Economics (42 works) · Political science (32 works) · Sociology (19 works) · Economic Theory and Policy (17 works) · Law (17 works) · Neoclassical economics (17 works) · Economic Theory and Institutions (14 works) · Law (13 works) · Macroeconomics (13 works) · Keynesian economics (12 works)