In 1991 India chose to open her economy and formulated the New Economic Policy (NEP). Under the structural adjustment and reform programmes, the NEP aimed at promoting growth by eliminating supply bottlenecks that hinder competitiveness, efficiency and dynamism in the economic system This study...

If the output market is perfectly competitive and the firm’s production function is not concave, an increase in the output price may lead to an explosive increase in firm’s profits at some point. We explore the properties of this point, called a threshold price. We derive the formula for the...

Regional free trade zones have been unexpectedly successful in the last decade. Since 1980 the European Community enlarged significantly its membership and its scope. It now includes southern European countries, and market-integrating features allowing goods, people, services and capital to flow...

Regional free trade zones have been unexpectedly successful in the last decade. Since 1980 the European Community enlarged significantly its membership and its scope. It now includes southern European countries, and market-integrating features allowing goods, people, services and capital to flow...

Regional free trade zones have been unexpectedly successful in the last decade. Since 1980 the European Community enlarged significantly its membership and its scope. It now includes southern European countries, and market-integrating features allowing goods, people, services and capital to flow...

In the whole world there are strong discussions on how to yield a more equitable access and a more efficient provision. One issue linked to efficiency is the achievement of scale economies in the industry, and the optimal dimension of water and sanitation providers. Changes in the industrial...

This paper presents evidence that accounting (or flow-of-fund) macroeconomic models helped anticipate the credit crisis and economic recession. Equilibrium models ubiquitous in mainstream policy and research did not. This study identifies core differences, traces their intellectual pedigrees,...

Methodological pluralism advocates balanced consideration of multiple research methods. The concept rests upon the necessity of choice in the absence of conclusive principles to guide the preference of method. Ecological economics, however, appears to be engaging in a different conception...

Since the neoclassical economics dominants in the literature, its scientific power can be possible sanctify by Nobel prizes. So it’s a normal process that the Nobel prizes reflect the new trends in economics. When the causal relationship between powerfull of orthodoxy and nobel prizes in...

Born out of the conscious effort to imitate mechanical physics, neoclassical economics ended up in the mid 20th century embracing a purely mathematical notion of rigor as embodied by the axiomatic method. This lecture tries to explain how this could happen, or, why and when the economists’...