The author shows that the US as the world's largest investor abroad so far shuns the most dynamic host region East Asia including China and instead continues to focus on investment in Europe. In contrast, Germany follows a different path. Similar to trade, German companies have been very active...

The roles of the public servants seem to change towards increased service attitudes influenced by degree of IT Maturity and towards increased degree of problem solving influenced by increased degree of freedom in action. The quality of communication seems to be mainly influenced by the degree of...

While traditional theories of legitimacy have focused on the nation-state, authoritarian regimes and democracies alike seek legitimation not only in the domestic realm but also from international sources. This paper argues that the degree to, and the form in, which they do so depend on the...

The paper introduces a welfarist approach to the national safety of a nation with membership in a defense alliance as an option. The members are risk averse but heterogeneous in their safety classification. There are two public goods as insurance devices, the domestic military budget and the...

Martin Stuart ("Marty") Feldstein, currently George F. Baker Professor of Economics at Harvard University and President Emeritus of the National Bureau of Economic Research, Inc. (NBER), is a renowned American economist who has made important contributions to public finance, macroeconomics,...

The earlier work on the optimal design of the national security has focused on the opportunity cost of the draft in terms of foregone human capital formation. The current paper introduces the national security into the welfare analysis missing from the earlier work. This creates a trade-off...