We analyze the effects of declining population growth on the adoption of automation technology. A standard theoretical framework of the accumulation of traditional physical capital and of automation capital predicts that countries with a lower population growth rate are the ones that innovate...

We propose a novel framework to analyse the macroeconomic impact of non-communicable diseases. We incorporate measures of disease prevalence into a human capital augmented production function, which enables us to determine the economic costs of chronic health conditions in terms of foregone...

This paper provides estimates of the economic impact of non-communicable diseases (NCDs) in China and India for the period 2012-2030. Our estimates are derived using WHO's EPIC model of economic growth, which focuses on the negative effects of NCDs on labor supply and capital accumulation. We...

Many scholars have argued that once "basic needs" have been met, higher income is no longer associated with higher in subjective well-being. We assess the validity of this claim in comparisons of both rich and poor countries, and also of rich and poor people within a country. Analyzing multiple...

We explore the relationships between subjective well-being and income, as seen across individuals within a given country, between countries in a given year, and as a country grows through time. We show that richer individuals in a given country are more satisfied with their lives than are poorer...

We review Baumol's typology of productive, unproductive and destructive entrepreneurship. We argue that the typology is relevant for explaining the secular decline in business dynamics. To the existing explanations for this decline, we put forward the thesis that entrepreneurship has become less...

While openness to trade is a well-recognized hallmark of many successful emerging market economies known as "growth miracles," another component of the growth model is a leapfrogging strategy - the use of policies to guide the industrial structural transformation ahead of a country's factor...

At the close of World War II, there were wide-ranging debates about the future of economic developments. Historical experience has since shown that these forecasts were uniformly too pessimistic. Expectations for the American economy focused on the likelihood of secular stagnation; this topic...

To American and European economists in 1945, the countries of Asia were unpromising candidates for high economic growth. In 1950 even the most prosperous of these countries had a per capita income less than 25 percent of that of the United States. Between the mid-1960s and the end of the...

We explore the relationships between subjective well-being and income, as seen across individuals within a given country, between countries in a given year, and as a country grows through time. We show that richer individuals in a given country are more satisfied with their lives than are poorer...