The capitalist democracies of western Europe and the U.S. have developed extensive social programs, based on the principle of solidarity, that provide assistance to the destitute, the unemployed, the sick, the disabled, and the elderly. Due in part to growing levels of spending on these...

This paper examines to what extent the classification of the American welfare state as "residual" squares with the empirical facts. Section I describes key features of American social policy developments. The U.S. system is clearly dominated by public provisions for welfare among which social...

Intellectual property rights and competition policy are intimately related. In this paper I survey the economic literature analyzing the interaction between intellectual property law and competition law and how the boundary between these two policies is drawn in practice. Recognizing that...

This study examines how globalization of corporate governance practices influence the risk of European CEOs being dismissed. We argue that the harsh monitoring of the American corporate governance system spills over to the rest of the world as a result of this globalization. We focus on direct...

This paper examines the interaction between intellectual property protection and competition policy on the choice of entrepreneurs with respect to commercialization as well as the rate of innovation. We find that stronger intellectual property protection makes it more likely that entrepreneurs...