How much credit can be given to entrepreneurship for the unprecedented innovation and growth of free-enterprise economies? In this book, some of the world's leading economists tackle this difficult and understudied question, and their responses shed new light on how free-market economies...

Economic growth may involve change, but there can be change without economic growth insofar as outputs of some products or employment in some regions or industries grows while there are equal decreases elsewhere. National accounts data do not reveal such shifts, yet they may involve investment...

The operationalization of a marginal cost pricing scheme must account for conventions consonant with basic welfare economic theory. The welfare gains associated with adopting alternative tariffs must outweigh the costs of implementation. An in-depth ...