This paper seeks to provide an improved understanding of the origins of democracy. It begins by developing a theoretical model to demonstrate how exogenous economic conditions can influence both the incentives to establish democratic institutions and the likelihood that such institutions...

Does it make us unhappier when we compare our current consumption with that of the Joneses or our own past achievements? This paper tries an answer without recurring on interpersonal utility comparisons. It calibrates an economy under three different assumptions, non-comparing utility, and...

This paper complements research on how love of wealth bears on key variables in a Ramsey-Cass-Koopmans growth framework. It is shown that for an optimum the social planner cannot have an excessive love of wealth. If the planner has the "right" love of wealth an optimum exists and implies higher...

Das Buch, ursprünglich ein Forschungsbericht, der im Jahr 2010 für die englische Regierung erarbeitet wurde und kurz darauf als Buch erschien, fand nicht nur in den westlichen Industrienationen Beachtung. Es wurde vom Autor, Professor für Nachhaltige Entwicklung an der Universität von...

This paper complements research on how love of wealth bears on key variables in a Ramsey-Cass-Koopmans growth framework. It is shown that for an optimum the social planner cannot have an excessive love of wealth. If the planner has the 'right' love of wealth an optimum exists and implies higher...