The productivity slowdown in Europe since the mid-1990s is a reason for concern. Labour market rigidity, hampering innovation, may be a cause of the slowdown. In the paper this argument is placed in a broader perspective. Labour force participation is an important factor in explaining...

Is gift-exchange inevitably to be crowded out by impersonal market exchange? The presence of a thick-market externality indicates that this is indeed likely to be the case. But reciprocity or gift-exchange induces social relations. The utility function is extended in order to take account of...

Our aim is to analyse patterns of international trade and economic growth in connection with the North‐South income gap. The analysis is based on the familiar two‐factor, two‐sector, two‐country model adapted to the specific situation in question. Less developed countries, LDCs, are...