Technological change is modeled as endogenous in the sense that it is affected by economic, behavioral, and institutional variables. Technological change is especially affected by changes in relative input prices and their level, of which the price of labor is particularly important. Input...

Standard economic theory, which assumes that economic agents behave x-efficiently, precludes human agency as an important variable in determining the level of material welfare. But when the quantity and quality of effort involved in the production process is a choice variable, human agency and...

Some of the fundamental tenets of conventional economic wisdom, which have had a profound impact on public policy, are challenged in this book. These precepts include the affirmation that low wages are more beneficial that high wages to the process of growth and development; convergence in terms...