This paper examines how certain new structural factors have contributed to the latest great financial crisis and world recession of 2008-09. We focus on three of these structural factors: (i) the incorporation of highly populated countries into the growth process; (ii) The increasing scarcity of...

Three new structural factors underlie the latest great world crisis: (1) the incorporation of highly populated countries into the growth process; (2) The increasing scarcity of the environment and certain natural resources; (3) the dramatic concentration of wealth and income in the advanced...

This paper shows the implications of credit and labor market imperfections on gender differences in agricultural labor productivity, especially highlighting how both imperfections negatively affect female productivity by discouraging off-farm income generating activities and restricting access...

Cost-benefit analyses of health and safety regulations require estimates of the benefits of reducing pollution, and hence the risks of pollution-caused illnesses. Lost work income constitutes an important component of monetized benefits. This paper examines the impact of married men and...

Government spending should be regarded as a social and political phenomenon, not merely as a technical choice. We argue that there is an implicit contract between the organized elites and politicians which often leads to a pro-elite allocation of public resources. A natural and simple taxonomy...