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During Britain's industrialization, Parliament operated a forum where rights to land and resources could be reorganized. This venue enabled landholders and communities to exploit economic opportunities that could not be accommodated by the inflexible rights regime inherited from the past. In...
Persistent link: https://www.econbiz.de/10008610965
This paper reports the results of an experiment designed to assess the ability of an incumbent seller to profitably foreclose a market with exclusive contracts. We use the strategic environment described by Rasmusen, Ramseyer, and Wiley (1991) and Segal and Whinston (2000) where entry is...
Persistent link: https://www.econbiz.de/10005777709
This is a survey of the economic principles that underlie antitrust law and how those principles relate to competition policy. We address four core subject areas: market power, collusion, mergers between competitors, and monopolization. In each area, we select the most relevant portions of...
Persistent link: https://www.econbiz.de/10005049968
How did we come to think that eliminating poverty is a legitimate goal for public policy? What types of policies have emerged in the hope of attaining that goal? The last 200 years have witnessed a dramatic change in thinking about poverty. Mainstream economic thinking in the 18th century held...
Persistent link: https://www.econbiz.de/10010951259
Trevor Swan independently developed the neoclassical growth model. Swan (1956) was published ten months later than Solow (1956), but included a more complete analysis of technical progress, which Solow treated separately in Solow (1957). Reference is sometimes made to the "Solow-Swan growth...
Persistent link: https://www.econbiz.de/10005828782
World War II and the increasing economic gap between OECD and Third World nations. Section 3, "The Asian Miracle," describes …
Persistent link: https://www.econbiz.de/10004999994
individuals and the prevailing unemployment rate in the country impact perceptions of the effectiveness of democracy. We find that … personal joblessness experience translates into negative opinions about the effectiveness of democracy and it increases the … that democracies are ineffective, regardless of joblessness. People's beliefs about the effectiveness of democracy as …
Persistent link: https://www.econbiz.de/10008635899
that human societies are organized, even in most of the contemporary world. In contrast, a handful of developed societies …
Persistent link: https://www.econbiz.de/10005714272
Adaptable property-rights institutions, we argue, foster economic development. The British example illustrates this point. Around 1700, Parliament established a forum where rights to land and resources could be reorganized. This venue enabled landholders and communities to take advantage of...
Persistent link: https://www.econbiz.de/10005720679
Rosenstein-Rodan (1943) and others posit that rapid development requires a 'big push' -- the coordinated rapid growth of diverse complementary industries, and suggests a role for government in providing such coordination. We argue that Japan's zaibatsu, or pyramidal business groups, provided...
Persistent link: https://www.econbiz.de/10005579952