The 2004 election has been interpreted as a resounding victory for conservative values. Was it in fact a mandate? The present analysis examines recent electoral outcomes and the 2004 election with particular reference to economic and political fundamentals. Looking at both aggregate results and...

The present study examines the importance of Schumpeterian profits in the United States economy. Schumpeterian profits are defined as those profits that arise when firms are able to appropriate the returns from innovative activity. The paper derives the underlying equations for Schumpeterian...