Effective provision of public goods is a key determinant of quality of life. Conventional approaches to poverty measurement look only at private goods, butthis view is too narrow. Access to safe drinking water, sanitation, transport,medical care, and schools is essential both as a direct...

We analyze a simple and tractable model of occupational choice in the presence of credit marketimperfections. We examine the effect of parameters governing technology and transaction costs, andhistory, in terms of the initial wealth distribution, in determining the long-term wealth...