Considering the examples of Australia and the Pacific Rim, Growth and Productivity in East Asia offers a contemporary explanation for national productivity that measures contributions not only from capital and labor, but also from economic activities and relevant changes in policy, education,...

Becker?s theory of human capital predicts that minimum wages should reduce training investments for affected workers because they prevent these workers from taking wage cuts necessary to finance training. In contrast, in noncompetitive labor markets, minimum wages tend to increase training of...

We investigate how nondemocratic regimes use the military and how this can lead to the emergence of military dictatorships. Nondemocratic regimes need the use of force in order to remain in power, but this creates a political moral hazard problem; a strong military may not simply work as an...