This paper develops a theory of stagflation, based on turnover-efficiency-wage theory. In these theories, wages are forward-looking, i.e., set to keep incumbents with the firm. The employed workers apply for better jobs and compete with unemployed applicants. An employed applicant is, however,...

This chapter analyses some phenomena in organized religion from the point of view of economics. It is argued that religious activity derives from the individual's quest for sense and justification that molds institutional and other features of religious activity, as brought about by competitive...