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A free market economy is characterized by an unequal distribution of income, wealth, and opportunities, to the extent that a considerable part of the population does not enjoy the wellbeing which an affluent society can offer. Recent studies have shown that excessive inequality is bad not only...
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This article questions the assumptions, sustainability and ethics of endless economic growth on the basis of … environmental science, ecological economics and ecological ethics. It considers the impossibility and unsustainability of endless … finding workable solutions. It discusses how in theory GDP could continue to grow modestly in the future if we adopted a …
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We construct an overlapping generations model in which parents vote on the tax rate that determines publicly provided education and offspring choose their effort in learning activities. The technology governing the accumulation of human capital allows these decisions to be strategic complements....
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