This paper examines changes in the allocation of public funds between production related public goods (PRPGs) and labour augmenting public goods (LAPGs) once elected village leaders replaced an appointment system. We derive a two-period theoretical model in which the interest of appointed...

The seemingly never ending scandals in the world of finance with their damaging effects on value and human welfare argue strongly for an addition to the current paradigm of financial economics. We summarize here our new theory of integrity that reveals integrity as a purely positive phenomenon...

This paper is a comment on 'Putting Integrity Into Finance: A Purely Positive Approach' (by Werner Erhard and Michael C. Jensen) which can be found at 'http://ssrn.com/abstract=2963231' http://ssrn.com/abstract=2963231

This paper is a comment on 'Putting Integrity Into Finance: A Purely Positive Approach' (by Werner Erhard and Michael C. Jensen) which can be found at 'http://ssrn.com/abstract=2963231' http://ssrn.com/abstract=2963231

The seemingly never-ending scandals in the world of finance, accompanied by their damaging effects on value and human welfare, make a strong case for an addition to the current paradigm of financial economics. We summarize here our new theory of integrity that reveals integrity as a purely...