This paper considers some of the shortcomings of an income per I capita measure of economic well-being and suggests an alternative capitalized value of expected future income per capita. Part I considers briefly some of the variables that a generally acceptable empirical welfare function should...

The paper provides estimates of (1) research expenditures on poliomyelitis, (2) several forms of productivity benefits from applying the knowledge generated by the research, and (3) the costs of applying that knowledge. Internal rates of return are computed under a variety of assumptions, with...

John Hause's paper is addressed to the perplexing matters of how to disentangle the effects of ability and schooling on worker earnings, and of the effect of ability on earnings over a worker's lifetime.' His emphasis oil "ability" and schooling as determinants of earnings is surely not intended...

Certain commodities of a pure individual-consumption variety also possess characteristics of a pure collective-consumption good. In certain cases when individual-consumption goods cannot be provided profitably by private enterprise, it may serve the social welfare to subsidize their production

This note considers a hypothetical experiment designed to give meaning to the concept of one "type" of utility function being "preferred" to another. In the course of presenting the outlines of such a conceptual experiment, the terms type and preferred will be defined. The conclusion-albeit at a...

Since the 19th century, the Young Men's Christian Association (YMCA) has morphed into a health-and-fîtness Goliath. In 2001, this tax-exempt organization had revenues of $4.1 billion, making it the largest nonprofit, in terms of earned income, in the United States. Today, many of the more than...

This note deals with the nature and forms of buyer sovereignty, and conditions for attaining it. My objectives will be: (1) to generalize the issue of consumer sovereignty to the problems of (a) citizen, and (b) stockholder sovereignty; and (2) to make explicit one set of conditions sufficient...

The effects of the favorable tax treatment of nonprofit commercial activities are best understood in a framework that explicitly accounts for a number of interactions. these involve differential taxation of nonprofits and for-profits and of nonrprofits' "related" and "unrelated" activities; the...

The article discusses the fiscal problems in higher education in the U.S. It outlines the causes of the financial crisis experienced by higher education including endowments' stock market losses, tightened credit, and revenue losses from school tuition, state funding, and donations. It mentions...