This paper weights the relative advantages of multiple factors that lead to the success of professional sports stadiums in major markets, though a discussion of the arguments for and against public subsidies towards these projects. Using a logit statistical model, the paper determines that the...

As the former Special Assistant to the President for International Economics at the National Economic Council (NEC) at the White House, Robert F. Wescott helped develop policies on a wide range of internationaleconomic and financial issues. Prior to joining the NEC in early 1999, he was Deputy...

The paper discusses the framework of ERM2 (the exchange rate mechanism of EMU, the Economic and Monetary Union) and its suitability for accession countries / advanced transition economies. It analyzes the exchange rate mechanism from two aspects. First, it considers how ERM2 regulates the...

“Substantial downzoning” is defined as the exercise of police power to significantly reduce the legally permitted density on undeveloped land in a community. This contentious practice is typically challenged by those who perceive the action to limit their market opportunities (e.g., farmers...

Global food commodity price inflation beginning in 2006 and continuing through mid-2008 became a priority concern for global consumers, producers and policy-makers alike. In response, many governments across the world implemented policies targeting high food commodity prices in their domestic...

This paper analyses the impact of quality based labelling on product prices,factor allocation and the resulting effects on producers within the context of aninternational trading system. A general equilibrium model, calibrated to 1998 data,describes United States and European Union labelling...

The purpose of this paper is to analyze climate change and ecological destruction through the prism of the core general principles of political economy. The paper starts with the principle of historical specificity, and the various waves of climate change through successive cooler and warmer...

This paper examines the global securitised subprime crisis through the lens of core general principles of political economy. The principle of historical specificity is used to situate the crisis in cycles and historical time. The principle of circular and cumulative causation scrutinises the...

The first main section studies the similarities and differences between the Myrdalian and Kaldorian CCC frameworks. The second section develops a general system model of integration between the two traditions. There is a large measure of continuity between the two CCC approaches; they complement...

Several schools of thought contribute to this heterodox view of money, including neo-Marxian, Schumpeterian, institutional and post-Keynesian political economy. Neo-Marxian contributions centre on the circuit of money capital, fictitious capital and the break-up of the surplus value into profit,...