The Economic Journal

The Economic Journal is an economic and scientific, peer -reviewed journal that is published on behalf of the Royal Economic Society by Wiley- Blackwell. The Economic Journal is one of the oldest and most prestigious academic journals in economics and appears with eight issues per year.

History

History of establishment

In 1887 Herbert Somerton Foxwell announced a Chair Professor at University College London, in the Quarterly Journal of Economics, that "economic magazine" in the UK would be published through a new "economic society". This announcement formalized a project which had been discussed among leading economists for some time: the dissemination of economic research through the publication of a journal. However, this project could not be implemented until after a further four years and culminated in the first edition of the Economic Journal published in March 1891.

Between the years 1886 and 1890 there had been many discussions between renowned British economist on creating an economics journal. Sir Robert Inglis Palgrave, editor of the Economist suggested, originally intended to establish a society that should specialize in the publication of translations and copies of the few economics work. Foxwell, however, planned an ambitious undertaking, namely the creation of a quarterly magazine equivalent to publications such as the Quarterly Journal of Economics or the French Journal des Economistes. This type of publication, he argued, would allow the British economist afford with their colleagues of the American Economic Association " fraternize " to.

Palgrave, Foxwell and Professor Alfred Marshall of Cambridge University studied the first thing the possibility of such a publication within the Royal Statistical Society to establish. However, after discussions with the society they came to the conclusion that a new organization should be launched in order to pursue their goals accordingly. This decision was also supported by the economist and philosopher John Neville Keynes.

The founding members decided that an economic society should be founded which all were free with an interest in economics, regardless of whether it be independent politicians, officials, scholars or uneducated. This tolerant attitude should be reflected in the policies of the journal that published works independently from all areas of economics.

An academic journal that would be a thematically broad literature moved to publish articles and reviews, needed an unbiased and educated editors. Letters between Foxwell and Palgrave of approximately 1888 point to the hope of the two that Keynes would edit the Economic Journal, but he was unable to do so. Foxwell himself admitted that the choice of an editor designed to be difficult without Keynes.

It was not before 1890 that Francis Ysidro Edgeworth was first made editor of the Economic Journal. Edgeworth occupied a professorship at King's College London in 1888 and in 1891 the Drummond Professor of Political Economy at the University of Oxford appointed. Despite his academic achievements Edgeworth later admitted that the establishment of the new journal had been difficult.

Three years after Foxwells announcing plans for an economic society and associated with this publication have been completed in November 1891, the British Economic Association (which later in 1902 for the Royal Economic Society was ) was established at University College London. The central aim of the Association was the publication of a quarterly national magazine, the Economic Journal. In a circular letter, which was sent around before the founding meeting, Marshall pointed to the significant impact towards the the Journal would have on the British economics. Marshall's speech appear around 200 people, a sign both of the growing interest in economics in England and consensus ' that there was a need for such a society and a corresponding publication to represent the economics in Britain appropriate. In response to this early support, the Society lost no time to meet their publication goals. The Economic Journal was issued shortly after the founding of the Association in March 1891.

The first edition of the Economic Journal led the aims and objectives of the company in regard to the dissemination of economic plants. To this end, the journal would economics articles from all economic schools of thought publish, so as to promote the academic debate and advance. This project was reflected through Edgeworth's aspirations as independent as possible to publish it reflected that the first editions of the Economic Journal have an extraordinary breadth of opinions. Among these were socialist, individualist and ruskinische positions.

Editors of the Economic Journal

The Economic Journal was a conscientious and most long-term benefit from editorial to which many well-known economists belonged. Edgeworth remained editor until 1911, however, was from 1896 to 1905 in the performance of his duties, aided by Henry Higgs, one of the founding members of the British Economic Association. Later, Edgeworth should take its role as an editor again from 1918 to 1925 on the side of John Maynard Keynes.

John Maynard Keynes had held the post of editor of the Economic Journal from 1912 to 1944 and ensured the uninterrupted publication of the Journal, both during the First World War and the Second World War. Besides Edgeworth supported him from 1925 to 1933 as co- editor DH MacGregor, a former student of Marshall and Professor of Political Economics at the University of Leeds, and from 1934 to 1940 Austin Robinson, one of his own former students, as deputy editor.

The editors of Sir Austin Robinson began in 1934 as Deputy Editor and ended in 1970 as chief editor. During the 36 years that he spent in the service of the Economic Journal, Robinson had also held the post of General Secretary of the Company. In commemoration of his work for the Economic Journal, this presents an award in his honor for the best article of a recent doctoral person.

The first female Chefredateurin of the Journal was the economist and economic historian Phyllis Deane. Deane joined the editorial staff in 1968 and served in seven Jahe long as an editor, among other economists such as Austin Robinson and later WB Reddaway. She was from 1980 to 1982 also President of the Royal Economic Society.

Edgeworth and Keynes were the only editors who took a time the editor of the Economic Journal alone on itself. Just as the magazine grew in size and importance, even the editors grew. In the 1980s, the number of annual expenditure of the Economic Journal finally increased from four to five, 1991 and 1999, six to eight issues per year. Today, a group of seven Managing Editor is cared for overseeing the delivery and assessment of around 900 articles per year.

Reception

In a study of Kalaitzidakis et al. (2003) documented the Economic Journal No. 18 of 159 evaluated publications, but could be in an updated study of Kalaitzidakis et al. (2011) improve on 10th place out of 209 compared publications. In economics publication ranking of the Tinbergen Institute at the University of Amsterdam led the Economic Journal in the category A ( " very good general economics journals and top journals in their field ").

The Impact Factor of the Economic Journal was in 2012 at 2,118. In the statistics of the Social Sciences Citation Index, the magazine was out on 38th of 333 journals in the category Economics.

Swell

• AW Coats: The Origins and Early Development of the Royal Economic Society. In: The Economic Journal. Volume 68, No. 310, 1968, pp. 349-371.
• FY Edgeworth: The British Economic Association. In: The Economic Journal. Volume 1, No. 1, 1891, pp. 1-14.