In 1937, in the midst of the US recovery from the Great Depression, President Roosevelt implemented spending cuts in pursuit of a balanced budget. Subsequently, the unemployment rate jumped nearly 6 percentage points over the next year and the US economy re-entered a major recession. In the...

The developing countries have to be involved more closely in the international division of labour if they are to be able to play their part in a New International Economic Order. Increased competition in semifinished and finished products and internal substitution processes will pose new...

This paper assesses the role of the public sector in adaptation to climate change. We first offer a definition and categorisation of climate change adaptation. We then consider the primary economic principles that can guide the assignment of adaptation tasks to either the private or the public...