Lecture to the memory of Alfred Nobel, December 12, 1972

The June 2012 issue of Environment and Development Economics published a symposium with considerable focus on our paper, ‘Sustainability and the measurement of wealth’. The Symposium also contained five articles in which other researchers offered valuable comments on our paper. The present...

We develop and apply a consistent and comprehensive theoretical framework for assessing whether economic growth is compatible with sustaining wellbeing over time. Our approach differs from earlier approaches by concentrating on wealth rather than income. Sustainability is demonstrated by showing...

This primer highlightsboth the strengths and the limitations of benefit-cost analysis in the development, design, and implementation of regulatory reform.

Kenneth Arrow and Gérard Debreu have throughout their careers continuously produced ideas at the very frontier of economics. Together, they have made unparalleled contributions on the properties of general equilibrium systems in economics, the study of collective choice and welfare economics.

Margaret Jane Radin's new book, Contested Commodities, is reviewed. The book's thesis is that some activities are too close to the intrinsic identity of persons to be proper subjects of the market and that discourse which treats all such activities as commodities can itself create harm. She...

Racial discrimination pervades every aspect of a society in which it is found. It is found above all in attitudes of both races, but also in social relations, in intermarriage, in residential location, and, frequently, in legal barriers. It is also found in levels of economic accomplishment;...

In any dynamic model of the economy with changing population, the latter should properly be one of the state variables of the system. It enters both in the maximand, at least under total utilitarianism, and into the production function in one way or another. If population growth is exponential...