This year marks the fifth annual publication of the Duke Journal of Economics, formerly the
Undergraduate Economics Journal. Founded in 1988, the Journal seeks to encourage students’
contributions to the discipline and to promote dialogue within the University as an entity.
In this issue:
• John Bartholdson examines the impact of the recently-passed luxury tax on the
boat-building industry.
•Steven Winch discusses the positive and negative aspects of short selling from a
historical standpoint.
•Spencer Banzhaf explores the concept of the net product.
•Mark Lasser investigates the recent German Unification and reports on the
inefficiencies resulting from this historical event.
• Fall 1992 Economics 2015 students, under the direction of Dr. Tower, analyze
current issues in economics in a symposium format. It should be noted that these
papers were not submitted as honors theses.
Students interested in working on the Journal should attend upcoming Omicron Delta Epsilon
meeting for more information.
A special thanks to the following, without whose help this Journal would not have been
possible: Bruce D. Fitzgerald, The Allen Starling Johnson, Jr. Endowment Fund, Forrest L.
Smith, Louise Merriam, and the staff of the Duke University Economics Department.
Manuscript submissions should be forwarded to Dr. Edward Tower or Dr. Neil De Marchi of
the Department of Economics.
SEAN FAHEY RANDY GIBEAU
CONTENTS
THE IMPACT OF THE LUXURY TAX ON THE BOAT-BUILDING INDUSTRY
by John A. Bartholdson……………………………………………………………………..7
SYMPOSIUM: lNTELLECTUAL PROPERTY RIGHTS
lNTELLECTUAL PROPERTY RIGHTS AND THE GATT
by David Reiter………………………………………………………………………………..45
TRADEMARKS AND GENERIC NAMES
by Todd Schulman
SHORT SELLING MALIGNED: AN HlSTORICAL PERSPECTIVE
by Steven D. Winch …………………………………………………………………………59
SYMPOSIUM: EMIGRATION/IMMIGRATION
THE ECONOMIC IMPACT OF HONG KONG’S BRAIN DRAIN
by Micaela Kelley……………………………………………………………………………..75
CUBAN IMMIGRANTS IN M!AMI
by Jill Calahan
IN SEARCH OF TIIE PRODUIT NET
by Spencer Banzhaf………………………………………………………………………….89
SYMPOSIUM: WORKFARE
THE ECONOMICS OF WORKFARE: THEORY AND PRACTICE
by Bryan R Clarke…………………………………………………………………………….131
THE EFFECTS OF WORKFARE ON TIIE POOR
by Oliver Goldstein
GERMAN UNIF!CATION: lNEFFICIENCIES OF GOVERNMENT INTERVENTION
by Mark L. Lasser……………………………………………………………………………..145
