This paper asks whether innovation has slowed in recent decades. While there has been dramatic progress in information and communications technology, the recent record of innovation in the crucially important agriculture, energy, transportation, and health care sectors is cause for concern. The...

The sustainability debate concerns whether the world will experience stable or improving living standards for the foreseeable future, or whether the current trajectory will overtax the natural environment, leading to a `crash' in living standards. This paper selectively reviews relevant...

This paper reviews the major facts of comparative per capita economic growth over the 1960-88 period, drawing attention to the unprecedented rates of growth achieved by the fastest-growing economies and the consequent unprecedented variation in economic growth across countries. This paper also...

This paper examines the relationship between financial decisions and output decisions in oligopolistic markets. Assuming a duopoly market structure in which financial decisions and output decisions follow in sequence, the authors analyze how bankrupt cy costs, which are incurred when the firm is...

This paper examines the effect of public opinion polls on the Toronto Stock Exchange during the campaign period of the 1988 Canadian general election. Two hypotheses are investigated: first, did polls influence the Toronto Stock Exchange and, secondly, if so, did the nature of the influence...

The authors examine a small open economy with an open-access renewable resource. Using a two-sector general equilibrium model, they characterize the autarkic steady state and then show that trade reduces steady-state utility for a diversified resource exporter. Instantaneous gains occur as trade...