Constant returns to scale (CRS) is one of the corner-stones of the competitive general equilibrium paradigm of neoclassical economics. This note argues that the equilibrium solutions of this paradigm are not compatible with CRS. CRS implies that all producers (whatever their scale of production)...

The Tenth Annual Report published by "Sos Impresa", an Antiracket Association, notices that the organized crime is ah heavy "ballast" in the Southern Italian Economy: "Mafia Business makes annual revenues for 90 mln €, about the 6% ofItalian GDP". This work presents a reading of the organized...

The relation between religion, economy and the country became a major topic in the development of public welfare systems. Humans are political creatures that have the potential to realise the level of moral conscience to meet the needs of a better life, but humans as spiritual beings must have a...

The nature and pace of economic progress in a country depends, among others, on the venturesome qualities of its people. The development of entrepreneurship has, therefore, been taken as an important element in human development sphere in Malaysia. In fact, the Malaysian Government has...

This paper carries out a brief analysis of Amartya Sen’s thinking on Justice, based on Part IV of his book The Idea of Justice. Besides of describing Sen’s thoughts on the subject, the paper aims to contextualize it in the evolution of Sen’s work and in the general discussion on Justice in...

The urgent need for higher levels of productivity and competitiveness to meet the demands of the domestic and international market, poses serious challenges to productive and educational systems of the department of Santander, Colombia. It follows from the results obtained in the two sectors;...

Nobel prize to Professor Amartya Sen is a recognition to value based orientation and ethical dimensions of economics, and it is this aspect that invites attention of all those who plead for the role of human values and ethics in economics.

The mirror-neuron system (MNS) becomes instigated when the spectator empathizes with the principal’s intention. MNS also involves imitation, where empathy is irrelevant. While the former may attenuate the principal’s emotion, the latter paradoxically reinforces it. This paper proposes a...

From Adam Smith’s perspective, the most prominent macroeconomic happening of the post-World War II period was not the Great Moderation, nor was it the recent Great Recession. Instead, it was the secular deceleration in economic growth occurring in the U.S., or the Great Deceleration. Smith’s...

The paper analyzes Adam Smith’s views on monopoly focusing on Book IV and V of The Wealth of Nations and argues that Smith has left his analysis of monopoly in an embryonic form while the majority of scholars have assessed it starting from premises different from those, actually though...