This paper presents a brief review of the literature on the probable economic effects of population ageing in the industrial economies over the next 4 decades. Outline information is provided about short-run and long-run changes in the size and age structure of the population. The implications...

One of the many miracles of Victorian Britain’s market economy was that it worked most efficiently when it was left to regulate itself – or at least, this is what the great majority of Victorians believed. The prevailing economic orthodoxy throughout the nineteenth century assumed, following...

This paper attempts the following two questions, both with reference to the response of the Polish economy to the stabilization and liberalization plan of January 1, 1990: why was the fall in output much larger and the inflation rate much higher than anticipated? Was the contraction of aggregate...