Dear Colleagues,
The current sub-prime debacle has, yet again, illustrated the prevalence of unsubstantiated market analysis and little knowledge of basic economic theory among traders, investors and speculators. The current trends of investing in complicated derivatives and other equity mechanisms have created ill-founded growth and an un-natural distribution of resources. Additionally, the sub-prime debacle plaguing the U.S. and global community is most certainly a result of opaque and incongruous money making schemes; developed in unison with neo-expansionism that lacks emphasis on natural growth. The greatest of institutional investors, Warren Buffet, warned that the rapidly growing trade in derivatives poses a “mega-catastrophic risk” for the economy and most shares are still “too expensive.” It is evident that Buffet’s emphasis on transparency and simplicity have steered him away largely unscathed from the sub-prime crises.
Contemporary markets have become disconnected from fundamental economic theory and rational economic assessment and, in convening The Journal of Applied Economy, we are seeking to bridge this gap. Wall Street would not be in the doldrums if more professionals had thought to consult the academic community. Thus, the field of applied economy lies at the nexus of theory and implementation, the practical and the theoretical. By understanding the philosophical foundations of markets and decision making, applied economy can inform us about the role of market structures within larger analytical frameworks. 
The Journal is issued four times a year. Each edition will focus on a key question of the discipline. Economists, philosophers, investors, academics, and global citizens are welcome to submit articles of five to eight thousand words addressing, directly or indirectly, the edition’s key question. Articles will be accepted based upon, among other things, accessibility to the readership. If we are to bridge the ever-widening gap between the City and the Academy, this journal must be read by more than just economic scholars.
H. Trent Moore
Editor