Modern “game theory”, unlike the Talmudic game method, is a highly advanced analytical tool, both in sophistication as well as in application. Nevertheless, the game as such, whether of chance or strategy, has been practised from time immemorial, including by the ancient Hebrews. It is...

Gorbachev′s book Perestroika is used to explain why the author believes the new policy of restructuring of the Soviet economy cannot and will not work. The policies of Perestroika are introduced and evaluated and the existing socio‐economic system presented. At the end of this sceptical...

The major objective of Aganbegyan′s book is to enhance arguments made by Gorbachev in the latter′s Perestroika. New Thinking for Our Country and the World . Like his leader, Aganbegyan asserts that the ultimate purpose of perestroika is people′s welfare and that the policy of the...

Wage reform is an important aspect of Chinese economic reform. The success of wage reform is likely to depend upon the following understanding: Neither use of the efficiency‐oriented market wage system or use of the equity‐oriented planned wage system can solve the dual problem of economic...

The article attempts to reassess the world economy with an eye to understanding what is automatic about it and thus beyond the control of ational economies. Towards that end, Schumpeterian analysis is applied in an effort to illustrate how changes occur and how such changes affect discrete units...

The affinities of Smith′s invisible hand notion and Hegel′s cunning of reason are examined through a study of all the key locations in which the invisible hand and cunning of reason are introduced. Despite their differences in orientation and philosophy, both writers reach similar...

Macroeconomic data are examined to identify the factors which influence the job search duration of American workers during the 1970s and 1980s. Among the factors investigated, the overall unemployment rate and personal characteristics of job seekers emerge as more important influences on search...