This paper examines theory and evidence from recent studies into the contributions to economic growth of expenditure on education and on research and development. Investment in human capital has fundamentally different economic attributes to physical investment - exhibiting complementarity,...

Internation comparisons of average national incomes omit important information about leisure, home production, health, etc. They are also bedevilled by index number problems. This paper suggests ways of combining working hours and life-expectancy with income comparisons, and shows that the...