Purpose The purpose of this paper is to evaluate critically the narrative that the informal economy in Africa has no place within the framework of economic development. Considered as a sign of “backwardness”, “traditionalism” and “underdevelopment”, the informal economy in Africa has...

Freeman criticizes the economics profession on the ground that it has improperly accepted the philosophy of laissez‐faire capitalism in five different realms: economic development, unionism and minimum wage laws, socialist central planning versus decentralized markets, military dictatorships...

Suggests that too much market competition, like too little, hurts the US economy. Argues the case for moderate competition, where the operation of the invisible hand of free market competition is limited not only by the concern of the socio‐economic costs of competition, but also by the fact...

John Paul II’s vision of the social economy provides moral guidance to those seeking it. At the same time, it provokes market oriented free enterprise economists by its apparent lack of market understanding. Section one attempts to demonstrate how his vision expressed in Laborem Exercens...

The author in this essay surrounds John Paul II with professional economists from the past and the present, such as Taussig, Keynes, Richard and Peggy Musgrave, and Stiglitz, all of whom have very similar reservations concerning the social beneficence of the “free market”. As with these...

Purpose – The paper seeks to address conceptually the issue of monetary valuations of environmental intangibles. Design/methodology/approach – The paper offers an innovative approach based on the rent-seeking behaviour of individuals, as seen in lobbying for environmental goods. As an...

Purpose – The paper seeks to address conceptually the issue of monetary valuations of environmental intangibles. Design/methodology/approach – The paper offers an innovative approach based on the rent‐seeking behaviour of individuals, as seen in lobbying for environmental goods. As an...