Constant returns to scale (CRS) is one of the corner-stones of the competitive general equilibrium paradigm of neoclassical economics. This note argues that the equilibrium solutions of this paradigm are not compatible with CRS. CRS implies that all producers (whatever their scale of production)...

This paper evaluates, from an Allyn Youngian perspective, the neoclassical Solow model of growth and the associated empirical estimates of the sources of growth based on it. It attempts to clarify Young’s particular concept of generalised or macroeconomic “increasing returns” to show the...

After having pointed out the diverse uses of the term infrastructure in the literature on the market-economy, the different categories of infrastructure will be described. The argument in this context is that the classification of infrastructure suggested by Jochimsen has proved useful:...

Until the mid seventies the dependency theory could be relied upon to stimulate lively debate, but nowadays it seems to arouse little interest. There are several reasons for this, a fundamental one being the fact that many of the central tenets of dependency theory have since had to be...

Criticism within the Catholic churches of Latin America of the IMF and its approach to the development problems of the sub-continent has been persistently increasing in recent years. The measures imposed by the IMF, especially those following the payments crisis of 1982 have met with growing...