How much credit can be given to entrepreneurship for the unprecedented innovation and growth of free-enterprise economies? In this book, some of the world's leading economists tackle this difficult and understudied question, and their responses shed new light on how free-market economies...

This paper examines international trade issues as vital indicators of the economic prospects of the United States and other developed economies. In particular, it challenges misuses of the doctrine of mutual gains from trade and instead argues that comparative advantage does not guarantee...

[fre] L'analyse montre une correspondance étroite entre le nombre élevé d'équilibres dans un modèle d'échange statique avec économies d'échelles et celui d'un modèle linéaire dans lequel la productivité d'un pays partenaire à l'échange augmente par rapport à celle de son...

In this book Ralph Gomory and William Baumol adapt classical trade models to the modern world economy. Trade today is dominated by manufactured goods, rapidly moving technology, and huge firms that benefit from economies of scale. This is very different from the largely agricultural world in...