Excess distortions in the welfare state might result from the government lack of ability to commit not to help unlucky agents. Incentive considerations that are crucial in standard insurance in the presence of moral hazard play no role in this case. A benevolent government that sets transfers...

Benevolent governments lacking commitment ability provide too much insurance, if opportunistic private agents free ride on the government's concern and exert too little effort expecting government assistance. Yet, the costs of implementing the transfer policy work as a commitment device,...

Federal and state governments often differ in the capacity to pre-commit to expenditure and tax policy. Whether the implied sequence of public decisions has any efficiency implications is the subject of this paper. We resort to a setting which contrary to most of the literature does not exhibit...

In law as well as economics, the most well-known aspect of Coase's “The Problem of Social Cost,” is the Coase Theorem. Over the decades, that particular notion has morphed into a crucial component of Chicago law and economics — namely, transaction cost analysis. In this Article, I...

As by product of economic growth, jobs are indeed transformational. In other words, efficiency increases as workers get better at what they do (as more productive jobs appear and less productive ones disappear). In fact societies flourish as jobs bring together people from different ethnic and...

As by product of economic growth, jobs are indeed transformational. In other words, efficiency increases as workers get better at what they do (as more productive jobs appear and less productive one disappear). In fact societies flourish as jobs bring together people from different ethnic and...

The demographic database of Eurostat and of Us Census of Bureau are explored and the main facts are extracted and described. This paper is completely self-standing but is also part of a more general analysis dedicated to the functioning and sustainability of pay-as-you-go to finance the welfare...

Corruption has become one of the most notoriously persistent and progressively worsening social problems afflicting Zimbabwe today, and this is indisputable. Corruption is most unwanted in the society especially by those not involved, but it is blamed by those who practice it, just to divert...

Corruption is a complex social phenomenon, which in addition to political and economic factors, also has deeply rooted cultural causes and social traditions which largely determine its existence and extent. Corruption itself in a certain sense is as old as human civilization and it occurs...