Economists seldom make explicit use of functional explanation, although they sometimes use it implicitly. Functional theorizing has lost favour among social scientists in recent years, and few are now willing to adopt functional language. This paper argues that, despite some drawbacks, explicit...

Sen's capability approach has a culturally specific side, with capabilities influenced by social structures and institutions. Although Sen acknowledges this, he expresses his theory in individualistic terms and makes little allowance for culture or social structure. The present paper draws from...

Two features of recent economic experience have been the transition to post-Fordism and the ageing of populations. Post-Fordism entails diverse production and consumption, flexible employment, privatisation and a smaller welfare state. Population ageing is predicted to cause financial problems...

During the 20th century, pensions in developed countries were generally payable from a statutory retirement age which provided a norm for retirement behaviour and a threshold dividing older from younger age groups. Governments, by setting fixed starting dates for work and retirement, created a...

Investor risk aversion in the long-term bond markets strongly influences the ability of many businesses to finance capital expenditures.

The ability to borrow funds at the discount window is a potentially valuable incentive for a bank to belong to the Federal Reserve System.

Several banking law changes have been proposed "to increase" competition between commercial banks ("CB"), mutual savings banks ("MSB"), and savings and loan associations ("SLA"). This paper will examine the empirical evidence concerning thrift institutions' effects on financial conditions...

The most dramatic development in banking in recent years has been the rise of bank holding companies. More than 1,750 of these banking operations now control most of America's bank assets and deposits.

The Hunt Commission's recommendations and other proposed banking law changes have made commercial bank performance under regulation a matter of some public concern.