Eric Hake, Ph.D.

Professor of Economics

  • Professor of Economics
  • B.A., Ph.D., University of Tennessee


Ketner Hall 308 
Ralph W. Ketner School of Business
Catawba College
2300 W. Innes St
Salisbury, NC 28144-2488


  • 704-637-4293 (work)
  • 704-762-9710 (home)
  • 980-330-9433 (cell)



  • Ph.D., Economics, the University of Tennessee, Knoxville. August 1994
  • Dissertation: The Role of Financial and Legal Innovation in the Rise of the Modern Credit Economy: Evidence from the American Merger Movement, 1870‑1904
  • Supervisor: Professor Anne Mayhew
  • Major Areas of Specialization: Economic History, Macroeconomics and Monetary Theory, Comparative Economics
  • Minor Areas of Specialization: History of Economic Thought
  • BA, History, the University of Tennessee, Knoxville, Tennessee, 1988


Principal Employment: 

May 2015 – present Full Professor, Economics. Awarded. New courses taught since 2015. MGT 2302 – Business Data Analytics. FIN 2535, Managerial Finance, ECON 3401 Environmental Economics

January 5, 2022 – May 15, 2022 Interim Dean, Ralph W. Ketner School of Business. Appointed. 

June 2019 – Dec 2021 Dean, Ralph W. Ketner School of Business at Catawba College, appointed. 

July 2018 – May 2023 Elias B. Saleeby Professor of Business, endowed chair. Awarded. Received financial award in following years: 2021-2022, 2022-2023. 

Jan 2018- June 2019 Interim Dean, Ketner School of Business. Appointed. 

August 2016 – January 2018 Ketner School of Business, Associate Dean of Academic Affairs, appointed. 

2011 – 2014, 2015-2022. Department Chair, Business & Economics, appointed. Hiatus in AY 2014-2015. 

2010 -- 2015, Associate Professor Department of Business & Economics, Catawba College Courses taught: principles of microeconomics, principles of macroeconomics, money and banking, capital markets, international economics, intermediate macroeconomics, legal environment of business, honors course: manias, panics, and crashes, comparative economics, study abroad course, Japan: music, business & culture. Youth Environmental Summit Course (Summer 2013 and 2012 “The Price of Everything and the Value of Nothing”). Honor’s course: Frankenfoods SP 2015. 

2008- 2010 Department of Economics, Eastern Washington University Assistant Professor
Courses taught: principles of microeconomics, principles of macroeconomics, intermediate macroeconomics, money and banking, history of economic thought, introduction to economic analysis (MBA Econ 500)

1999-2008 Department of Economics, Eastern Illinois University

2003-2008 Associate Professor, tenured. In addition to previous courses taught: intermediate macroeconomic business cycles, College of Science global threats (redesigned course), co-taught graduate level research methods. 

2003-2008 Director of graduate studies. MS in Economics & Statistics. 

1999-2003 Assistant Professor Taught: economics of social issues, principles of macroeconomics, College of Science survival of humanity, economies of Eastern Europe and Eurasia, development of Western Europe, American economic development, graduate level history of economic thought, comparative economics. Summer topics course: The New Global Economy: The Dot Com Equities bubble, Summer 2001, 2003, 2006.

Spring 2008. Visiting Associate Professor, Economics Department, University of Illinois Urbana-Champaign. Economics of Modern Europe Econ 422. 

Summer 2002. Taught course on the global economy at Maastricht Center For Transatlantic Studies, Maastricht, Holland. Faculty supported Study Abroad opportunity for EIU students. 

1998-1999 Visiting Assistant Professor, Department of Economics, Franklin and Marshall College. Taught Principles of Microeconomics, Principles of Macroeconomics, and Economies in Transition 

1997-1998 Instructor, Department of Economics, Radford University. Taught Principles of Microeconomics, Survey of Economics, and Comparative Economics.

1995-1997 Lecturer, Department of Macroeconomics, Mendel University, Brno, Czech Republic. Taught Macroeconomics, Financial Markets, International Finance. Position organized by the Civic Education Project, Yale. 

1995, Spring Lecturer, Department of Economics, Webster University, Vienna, Austria. Taught International Economics

1994-1995 Lecturer, Department of Economics, The Agricultural University of Nitra, Slovakia. Taught Intermediate Microeconomics and Macroeconomics. Position organized by the Civic Education Project, Yale, 1994‑1995

1990-1994 Graduate Teaching Associate, Department of Economics, The University of Tennessee. Taught Intermediate Macroeconomics, Monetary Theory, Economic History of the North Atlantic Community, Comparative Systems, and Principles of Economics, 1990‑1994

1989-1990 Graduate Teaching Assistant, Department of Economics, The University of Tennessee. Assisted with Principles of Economics. 


College and University Committee Service: 

2023-2026 Faculty Senate, elected Full Professor representative. 

2023 Ketner School of Business, taskforce to review requirements of AACSB accreditation. 

2022-2024 Enrollment Management Committee. Faculty Committee service. 

2019-2020. Catawba College, Provost’s Academic Prioritization Process, steering committee. Ketner School of Business representative, appointed. 

2018-2019. Catawba College, President’s Strategic Focus Advisory Team. Appointed.

2017-2019 Catawba College, Provost’s reinvisioning committee. Provost’s graduate studies committee. 

2015-2018 Catawba College, Faculty Senate, Professor seat, elected. Senate executive committee 2015-2017. 

2014 – 2017 Honors Faculty Board member, invited and appointed. 

2013 – 2014 Assigned as subcommittee convener for the President’s International Center Task Force. Finished recommendations/ report April 2013. 

2012 – September 2012– accepted President’s strategic planning charge to address Values, Goals, Objectives and Plans (VGOP) sections 1.1.31, 2.1.14, and 2.3.2 

2012-2014 Catawba College, Faculty Senate subcommittee on Faculty 
Handbook revision, volunteered, Doug Brown chair. 

2012-2015 Catawba College, Faculty Senate, at large seat, elected.
Vice-Chair and Senate Executive Committee 2013-2015. 

2012-2014 Catawba College Academic Policy Committee, Faculty service committee, appointed. 

2011-2012 Catawba College, Student Conduct Board, invited to serve by Ben Smith, Dean of Students (April 2011 to May 2012)

2010- 2012 Catawba College Admissions Committee, Faculty service committee, 

2009-2011 Eastern Washington University. Research and Scholarship Committee, nominated and appointed. 

2009-2012 Eastern Washington University. Undergraduate Affairs Council, nominated and appointed. 

2008-2010 Eastern Washington University. University Honors Advisory Council. 

1999-2008 Eastern Illinois University. Service on departmental committees 
including recruitment, assessment, graduate program, departmental personnel committee, economics club, and faculty seminar, Eastern Illinois University. 

2007-2008 Eastern Illinois University. College of Science grade appeals 
committee member 2007-2008. 

2006-2007 Eastern Illinois University member, ad-hoc University committee to 
review grade appeals process

2005-2006 Eastern Illinois University. Vice-chair, Council on Graduate Studies. 

2005-2006 Eastern Illinois University. member, Dean of Graduate Studies ad-hoc CGS committee to review graduate programs

Spring 2005 member, Graduate School search committee Director of Graduate Admissions Spring 2005

2003-2006 Eastern Illinois University. elected position, Council on Graduate Studies 

2000-2003 Eastern Illinois University. College of Science Curriculum Committee. 2001-2002, Vice Chair, 2002, Chair, 2003. 

1997-1998 Radford University. member of College Ad-hoc Committee on Recruitment Benchmark Development. 


Other Professional Service:

2020-2025 Secretary/Treasurer of the Association for Evolutionary Economics, 
board appointed position. 

2017 Fall Provost’s SEGS Re-envisioning committee, appointed.

2017 Spring Provost’s Values Proposition Committee – Internships. Appointed. 

2015-2020 Secretary/Treasurer of the Association for Evolutionary Economics, 
board appointed position. 

2014 Fall Faculty Advisor for the newly formed Student
Present Managed Investment Fund of Catawba College (SMIF) 

2014 Spring requested to serve as Faculty Advisor by newly formed International 
2017 Club, Catawba College 

2013 Dec Solicited textbook review, Miller 17th Edition, Macroeconomics, 

2010-2015 Secretary, The Association for Evolutionary Economics (AFEE), board 
appointed position. Nominated and appointed by Board of Directors. Converted to Sec/Treasurer in 2012. 

2009 referee for The American Journal of Sociology and Economics

2008-2011 Association for Evolutionary Economics, Financial Advisory 
Committee member

2008-2009 Association for Evolutionary Economics, President’s ad-hoc publisher 
transition committee. 

2007-2010 Board of Directors, the Association For Evolutionary Economics

2007-2008 Association for Institutional Thought. President 

2007-2010 referee for Forum for Social Economics

2007-2008 academic advisor for newly formed student organization to promote 
interdisciplinary research, Eastern Illinois Council on American Policy (EICAP)

2007 referee for Review of Political Economy

2001-2007 Graduate Advisor, Department of Economics, Eastern Illinois 

2006 Association for Evolutionary Economics (AFEE), membership committee

2006-2007 Association for Institutional Thought. Vice President

2006-2009 Association for Evolutionary Economics, Board member

2006, member, committee to review student paper competition, AFIT

2005 Chair, ad hoc committee to survey membership, AFEE

Fall 2004 Association for Institutional Thought, nomination committee chair

Spring 2004 Association for Evolutionary Economics, nomination committee chair. 

2003-2006 Requested to serve on the Editorial Board of the Journal of Economic Issues. 

2002-2003 requested to serve on the Graduation Education Committee of the Association for Evolutionary Economics. 

2002-2005 Association for Institutionalist Thought, Board of Directors. 

1997-present occasional Referee for the Journal of Economic Issues.

1997 Textbook Review for Publisher, Brux and Cowen, Economic Issues & Policy


Achievements and Honors:

Recipient: Catawba College Faculty Development Grant: January 2011, January 2012, January 2013, January 2014, January 2015, January 2016, April 2016, January 2017, March 2017, January 2018, January 2019, January 2020, January 2023. 

Recipient: Grant to participate in Teaching Pedagogy workshop, Summer 2011. 

Recipient: Summer Research and Scholarship Grant, EWU. Summer 2009. 

Recipient: Study Abroad initiative grant, COS, Summer 2006

College of Sciences, Teacher-Scholar Award. 2003 

Small Grant Award. College of Sciences, January 2003

2002 Outstanding Graduate Faculty Mentor Award EIU, nominated by graduate students 

Summer Research Grant, Council on Faculty Research. Awarded 
Summer 2002

Small Grant Award. College of Sciences, January 2002 

AFEE-UMKC Summer School June 23-28, 2001. Selected to participate 
in expense-paid conference 

College of Science Special Project Award Summer 2001. Funded travel to 
Baker Library, Harvard Business School 

Nominated for the College of Business Administration Graduate 
Teaching Associate Award 1993‑1994, University of TN, Knoxville

J. Fred Holly Fellowship, College of Business Administration, 1991‑1992, UTK

College of Business Capital Gifts New Student Fellowship 1989‑1990, UTK



Glen Atkinson, Stephen Paschall and Eric Hake, “Evolution of the Corporation in the United States: From Social Control to Financialization.” Edward Elgar 2021. 

Glen Atkinson, Stephen Paschall and Hake, “Evolution of the Corporation in the United States: Stabilization Policies and Vested Interests.” Journal of Economic
Issues. March 2019. 

Hake and Avraham Baranes, “The Institutionalist Theory of Capital in the Modern Business Enterprise: Appropriation and Financialization.” Journal of Economic 
Issues. June 2018. 

Hake, Eric. “Change and Continuity in the American Macroeconomy, 1929-2007: Exercises for Principles of Macroeconomics.” Forum for Social Economics. April

Hake, Eric “Capital and the Modern Corporation.” in Thorstein Veblen and the Revival of Free Market Capitalism. Edward Elgar. 2007 

with Dell Champlin. “Immigration as Industrial Strategy in American Meatpacking.”Review of Political Economy. January 2006

Hake, Eric. “Financial Illusion: Accounting for Profits in an Enron World”Journal of Economic Issues. September 2005

Hake, Eric “The Appearance of Impairment: Veblen and Goodwill Financed Mergers.” Journal of Economic Issues, June 2004 

with Martin B. King. “The Veblenian Credit Economy and the Corporatization of American Meatpacking” Journal of Economic Issues, June 2002

“The Stock-Watering Debate: More Light, Less Heat.” Journal of Economic Issues, June 2001

with Walter C. Neale. “Karl Polanyi’s Great Transformation and the Current Transformation in Central Europe.” Chapter 2 in Transition in Historical Perspective.
Charles M. Clark and Janina Rosicka, eds. Ashgate Publishing Company: Aldershot, 2000

“The Rise and Fall of Investment Companies in Slovakia.” Journal of Economic Issues, September 2000

“Corporate Control/Governance.” Entry for The Encyclopedia of Political Economy. Phil O'Hara, editor. Routledge. 1999

“The Third Wave of Privatization: A Search For True Owners?” In Financial Market Restructuring in Selected Central European Countries. Karen S. Vorst and Willadee Wehmeyer, eds. Ashgate Publishing Company: Aldershot. Spring 1998

“Financial Innovation as Facilitator of Merger.” Journal of Economic Issues. March 1998


Book Reviews:

Mariano Tommasi and Kathryn Lerulli, eds. The New Economics of Human Behavior. Forum For Applied Research and Policy. Winter 1997 

Mark J. Roe, Strong Managers, Weak Owners: The Political Roots of American Corporate Finance. Journal of Economic Issues, December, 1995

Work In Progress:

2019 Book Project under contract with Routledge. Evolution of the Corporation in the United States: Stabilized Scarcity and the Vested Financial Interests.” Co-authors Glen Atkinson and Stephen Paschall. 


Hake, Paschall, Atkinson “J.R. Commons, subsidiarity, and the Corporation.” AFEE Annual conference at ASSA conference, San Diego. Accepted paper. January 5, 2020. 

Hake, October 11, 2019. Workshop on Teaching, UNCW Department of Economics, invited speaker. “The Heart, Head, and Hammer of Economics Education: Understanding the state of economics education before the Great Recession.” 

Avraham Baranes & Hake, Philadelphia, AFEE at ASSA conference January 4, 2018. The institutionalist theory of capital in the modern business corporation: Financialization and Appropriation.” 

“Driving Towards a New Normal” Faculty Colloquium Catawba College November 17, 2017. 

“Capital, Debt, and the Remaking of the Modern Corporation.” National Autonomous University of Mexico, March 30, 2017. Invited Keynote speaker for 17th annual conference of UNAM, “Financial and Economic Business Cycles.” 

“The Corporation, Credit, and the Public Interest.” January 2017, AFEE annual meeting at the ASSA conference in Chicago, IL. 

“Food Lion and Chandler’s Economies of Speed.” Paper presentation in honor of Anne Mayhew. AFIT annual meeting at the WSSA conference, Reno NV, March 2016. 

“Financial Regulation, Endogenous Money, and the Nexus of Control” January 2014. AFEE annual meeting at the ASSA conference in Philadelphia, PA. 

“What Keynes Said (that Economists forgot)” Faculty Colloquium, Catawba College.
February 1, 2013. 

“Before the Fall: Mergers & Acquisitions at Washington Mutual” Friday, January 6, 2012. AFEE annual meeting at the ASSA conference in Chicago.

Roundtable, “September 11, 2001: Ten Years Later” with Sheila Brownlow and Gary Freeze, moderator: Carl Girelli. September 13, 2011. 

The Deregulation, Disintermediation, Consolidation, Financialization, and Systemic Collapse of the American Financial System, AFEE annual meeting at ASSA. Atlanta. January 2-6, 2010

“Accounting for Capital in a WAMU World.” Presentation for the Association for Institutional Thought, April 2009. 

Causes of the Financial Crisis Roundtable. With Grant Forsyth, Dean Keifner, Kevin Pirch, and Carole Folsom. Eastern Washington University, JFK Auditorium, October 9, 2008. 

“The sociological foundations of the Classical long run” Presidential Address, Association for Institutional Thought. April 24, 2008. 

“Thorstein Veblen's Theory of Business Enterprise, Business Cycle, and Industrial Organization,” History of Economics Society annual meeting at ASSA. New Orleans. January 3-7, 2008. 

“The Evolution of Corporate Governance and the Expansion of the European Union,” Association for Evolutionary Economics annual meeting at ASSA. New
Orleans. January 3-7, 2008. 

“Perestroika and Progress: The Post-Autistic Movement in Context,” International Confederation of Associations for Pluralism in Economics. coauthored with
graduate student in political science, Lisa Morrison. June 3rd, 2007. 

“Economic Anthropology and the New Comparative Economics.” Association for Institutional Thought at WSSA. Calgary, April 11-14, 2007

“The Microfoundations of Comparative Economics” Association for Evolutionary Economics annual conference at ASSA. Chicago January 4-7, 2007

“Accounting for Profits in Enron’s World” October 14, 2006. Presentation at State University of New York, Oneonta

“A New Comparative Economics” Paper presented at the Association for Institutional Thought at the WSSA meetings in Phoenix, AZ, April 19-21, 2006

Social Security Privatization Roundtable. Hosted by AAUW, October 2005

“Terry Neale’s Contributions to the Economics of Karl Polanyi” Paper presented at the Association for Institutionalist Thought at the WSSA meetings, Albuquerque, NM April 13-15, 2005

Social Security Privatization Roundtable. Hosted by the Political Science Club, March 30, 2005. Eastern Illinois University

Moral Values Panel. Forum hosted by the Women Studies Department as part of the Women’s History Month Activities. March 27, 2005

“The Economics of Crony Capitalism.” Paper presented at the Association for Evolutionary Economics conference at the ASSA meetings, Philadelphia, PA, January 6-9, 2005

Election Year Roundtable, panel hosted by the Political Science Department, October 19, 2004

“Veblen As Reporter: A New Theory of Capital.” Paper presented at the Fifth Conference of the International Thorstein Veblen Association. Northfield Minnesota. June 3-6, 2004 

“How to Bring Back the Bull: Blue Skies or Bigger Fools?” Paper presented at the Association for Institutionalist Thought, Salt Lake City, Utah. May 2004

“The Appearance of Impairment: Veblen and Goodwill Financed Mergers.” Paper presented at the Association for Evolutionary Thought, San Diego CA. January

“Meatpacking: A New Generation of Company Towns.” Paper presented at the annual conference of the Association for Institutionalist Thought, April 2003. co-authored with Dell Champlin

“The Process of Industrialization in Meatpacking” Paper presented at the 53rd annual conference of the Midwest Association for Latin American Studies, May 2003

“Accounting for Profits in an Enron World” paper presented at the annual conference of the Association for Evolutionary Thought, Washington, DC January 2003. 

“Global Security One Year Later.” Panel Discussant. Eastern Illinois University, September 18, 2002

“Veblen’s Observations on the Emergence of American Corporate Accounting” annual conference of the Association for Institutionalist Thought at WSSA, Albuquerque NM April 2002

Business Opportunities in China. Panel Discussant. Eastern Illinois University, February 6, 2002

“The Veblenian Credit Economy and the Corporatization of American Meatpacking” annual conference of the Association for Evolutionary Economics at ASSA, Atlanta, January 2002

Globalization and Food Resources. Presentation at Eastern Illinois University World Food Day Event, October 16, 2001

“Causes and Consequences of Recent Terrorist Actions.” Panel Participant. September 19, 2001, Lumpkin Hall

“Corporate Finance as Industrial Organization.” Paper presented at the annual conference of the Association for Institutionalist Thought at WSSA, Reno, Nevada,
April 2001

“More Light Less Heat: Reinterpreting Stock-Watering.” Paper presented at annual conference of the Association for Evolutionary Economics at ASSA, 
New Orleans, January 2001

“The Fall of Glass-Steagall.” Paper presented at annual conference of the Association For Evolutionary Economics at ASSA, Boston, January 2000

“Karl Polanyi’s Great Transformations and the Current Transformations in Central Europe” Co-organizer for panel at Economic Transitions in Historical Perspective, Cracow. Hosted by Jagiellonian University, St. John’s University (NY) and Cracow University of Economics. September 16-21, 1998

“The Role of Non-Technological Innovation in the Turn-Of-The-Century Merger Movement” in the panel, Merger and Concentration, Then and Now, from the
Perspective of a Monetary Theory of Production. Association for Evolutionary Economics, Annual Meetings, Chicago. January 6-9, 1998

“The Rise and Fall of Investment Companies in Slovakia” European Association for Evolutionary Political Economy, Annual Conference. Antwerp, Belgium. November 6‑9, 1996

“Corporate Governance in the Czech Republic” Macroeconomic Analysis of Structural Change in the Czech Economy. International Conference hosted by Mendel and Masaryk Universities, Brno, Czech Republic. May 16‑17, 1996

“Emerging Systems of Corporate Governance and the Letter of the Law” 6th Annual Conference of the Alliance of Universities for Democracy, Budapest, Hungary. November 5‑9, 1995

“Organizational Interfaces” 14th Austrian Congress of Sociology, Innsbruck, Austria. September 29‑30, 1995


American Economics Association
Association for Evolutionary Economics


Richard V. Adkisson, Professor
Dpt. of Economics and International Business 
ph: 575-646-4988
MSC 3CQ, Box 30001
New Mexico State University
Las Cruces, New Mexico 88003-8001 

Dell Champlin, Professor 
Eastern Illinois University (retired) 
ph: 541-764-0960
319 Kinnickinnick Lane
Depoe Bay, OR 97341-9693

James Galbraith
Lloyd Bentsen Chair in Government 
ph: 512-471-1244
LBJ School of Public Affairs
University of Texas, Austin
Austin, Texas 

Janet Knoedler, Professor
Bucknell University 
ph: (570) 577-3447
Coleman Hall 154 
Lewisburg, PA 17837