Generally non-economists and the rest of the world consider investment as the act of buying financial assets such shares, stocks, bonds and other securities which already exist in the stock market. But this description only limits investment to a transfer of existing stock of assets which does...

William Vickrey's single-minded commitment to full employment is evident in a series of papers written in the last years of his life. In these works Vickrey formulated an assets-based approach to macroeconomic analysis that has definite implications for budgetary and employment policy. For...

This paper looks at economic growth and its fundamental determinants in Russia over the last decades. It starts by showing that, contrary to the views of some political commentators, growth is highly important for the popularity of president Putin. Furthermore, regular models of growth are...