The U.S. economy is growing more slowly than it can and should be growing because it does not invest enough in infrastructure, science, and education. There is an important procedural obstacle to funding public investments — a process of scoring the economic effect of legislation. This process...

The U.K.'s decision to leave the EU and the voting in of the protectionist Donald Trump to the US presidency has drawn both the UK and the USA into the Nash Trap.U.S. mathematician John Nash (the movie ‘A Beautiful Mind') postulated that Adam Smith's declaration that ‘In competition,...

The debate on the nature of the legal personality of groups emerged in Germany in the last third of the 19th century and intensified with the controversies over the drafting of the German Civil Code. This discourse was well-rooted in German jurisprudential traditions, German historical...

Although employee-representation systems coexist with a collective-bargaining framework in continental Europe for many years, US labor advocates have looked upon those representations systems with suspicion. The reasons for this suspicion are historical: US employee-representation systems have...

In the present paper an empirical analysis will point out that government debt as a percentage of GDP has a negative impact (among others) on banking profitability. This impact will be even worse when this debt as a percentage of GDP exceeds a certain critical level. The sample covers during the...

There is mounting evidence of a complex system of multi-directional links between fertility, productivity and inequality. The contribution of this study is a multi-country analysis of these three variables as a simultaneous system in a VECM framework using annual time series data for the UK,...

The study focuses on the admissibility and assessment of economic expertise in EC competition law litigation. I start by exploring the broader issues raised by the integration of economic expertise in litigation: in particular the risk of moral hazard and adverse selection because of the...

This paper reviews a collection of essays relating to various aspects of the financial revolution in Britain starting with the creation of the Bank of England in the late seventeenth century and ending with the defeat of Napoleon in 1815, a period in which Britain unexpectedly became the...

It is common knowledge that John Maynard Keynes advocated bold government action to deal with recessions and unemployment. What is not commonly known is that modern "Keynesian policies" bear little, if any, resemblance to the policy measures Keynes himself believed would guarantee true full...

In his 2014 book, Thomas Piketty argues that wealth inequality is sharply increasing in r-g and refers to rg as ‘the central contradiction of capitalist economics', where r is asset returns and g is real income growth. To assess whether inequality is increasing in the (r-g)-gap this paper: 1)...