In this paper, a set of simple numerical examples are used to illustrate the essence of the life cycle-permanent income hypothesis and Ricardian equivalence. The level of mathematical sophistication required of the reader is nothing more than grade school arithmetic. Since the simple Keynesian...

In this paper, it will be demonstrated that a "dollar for dollar" crowding out of national investment caused by increased government spending is not just something that occurs within classical macroeconomic models. The reason for this is that in a closed economy Keynesian cross model with...

The impact of no-fault divorce laws is still a hotly debated topic in Economics today. Some say no-fault divorce laws have had no influence on divorce rates; others say they have had a significant impact. This paper essentially claims that no-fault divorce has indeed had significant and often...

The Positive Economic Theory of Tort Law is the product of two great academics, Richard Posner and William Landes. The Theory simply asserts that the optimal approach to view tort law is to assume that legislators enacted it to facilitate the efficient use and distribution of limited resources....