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The article presents two other applications of the standard neoclassical model of consumption-leisure choice, which forms the individual labour supply. The first one is decision making concerning time allocation with regard to household production; the second one is focused on labour supply over...
Persistent link: https://www.econbiz.de/10008500689
income inequality? How to relate income inequality and economic growth? Does economic growth affect income inequality or can … income inequality increase or decrease the rate of growth? Is the initial level of property or income important for … macroeconomic performance and macroeconomic growth? How can the initial level of wealth and income inequality influence the effects …
Persistent link: https://www.econbiz.de/10009294294
This paper discusses recent claims made by Caplan (2000, 2001a, 2001b, 2001c, 2002, 2007) who argues that democracies produce bad policies as a result of voters' irrational beliefs. We start by outlining the motives which led Caplan to amend classic Public Choice in such a radical fashion. We...
Persistent link: https://www.econbiz.de/10005258109
The article characterizes current ideas on this issue and defines a global paradigm of a managerial system on the principle of living organisms. Using Kuhn's theory of science development, the article characterizes controversial attitudes to knowledge economy and defines a global paradigm for a...
Persistent link: https://www.econbiz.de/10005036426