Economic policies are innovations that have important effects on countries and their social welfare. Far from being simply technical in nature, such policies are often ideological innovations. This paper examines three economic policy innovations (privatization, central bank independence, and...

In some economics textbooks production theory is developed axiomatically. The divisibility axiom presents a bold affront to realism. It distorts the static theory and forecloses some potential encounters with technological change. The article reviews propositions about geometrical scaling that...