The turbulence in East Asia, the contagious effects on financial markets of other emerging economies and even on the major world stock markets, and the renewed instability in exchange rates are, I think, warnings of trouble in a world in which capital is free to flow as never before around the...

The analysis here is founded on certain analogies with the Great Depression of the Thirties and four fundamental points: innovations, changes in the market forms, changes in income distribution and the sustainability of debts. The duration of prosperity depends first of all on the importance and...

Money, in this paper, is defined as a power relationship of a specific kind, a stratified social debt relationship, measured in a unit of account determined by some authority. A brief historical examination reveals its evolving nature in the process of social provisioning. Money not only...

Asset inflation, as distinguished from ordinary inflation, the latter referring to rising prices of consumer goods, wholesale commodities, or the national-income deflator, is a phrase not in use in the west, but current in Japan. There are times when assets rise in price in an inflationary way,...

In the last two decades, free markets have swept the globe, bringing with them enormous potential for positive change. But traditional capitalism cannot solve problems like inequality and poverty, because it is hampered by a narrow view of human nature in which people are one-dimensional beings...

Journals moderate knowledge activity in economics. The activity of publishing article in professional journal forms significant part of knowledge output. Output of economics articles has been growing over the time. We examine an important question: Is there any case of institutional or location...

Since ancient times, various psychological techniques such as fear and terror have been deliberately used by entities as non-combat weapons to bring about the enemy’s defeat. An effective use of fear as a weapon can sometimes achieve more than an arsenal of weapons of mass destruction. The...

The purpose of this background paper is i) to synthesize the discussions regarding the concept of human development, so as to inform the 2010 Report’s definition, and ii) drawing on the extensive policy and academic literatures, to propose relationships between the concept of human development...