The importance of the golden mean or moderation in daily human life has been advocated almost universally by all the great teachers of the world. In the sphere of economics, however, it seems to have been largely ignored. Determines whether preliminary evidence can be found to give some support...

Attempts to find answers to such theoretical questions as the character of Soviet‐type societies and the major tendency of their development. Argues that, as long as the analysis is conducted in convenient and extreme terms of “either capitalism or socialism or communism”: as long as the...

Demonstrates the relevance of a stages methodology as a basis for understanding and analysing the evolutionary metamorphosis leading to the current Russian malaise . Addresses the advantages and disadvantages of the methodology, such as the unilinear fallacy, and analyses economic stagnation and...

Freeman criticizes the economics profession on the ground that it has improperly accepted the philosophy of laissez‐faire capitalism in five different realms: economic development, unionism and minimum wage laws, socialist central planning versus decentralized markets, military dictatorships...

Asks how hard should a small natural resource‐rich (NRR) country try to escape from a path of economic development which has been shaped by its physical resource endowments, a question relevant to Clem Tisdell’s own country, Australia and also New Zealand and Canada, among others. Comments...

Uses a one‐sector model to investigate how external labour mobility can affect the economic performance of micro‐states. In the absence of restrictions on labour market flows between a micro‐state and a larger economy, the micro‐state becomes virtually an extension of the large economy....

Provides a focus on the significance of the spatial dimension in economics and the principal questions and issues which accompany considerations of the spatial dimension. Indicates that regional/spatial disparities in economic growth and performance, in income per capita, in the access of...

All post‐socialist countries began the transition process towards a market economy with very high shares of public expenditures in their gross domestic product. The policy question these countries face is whether to decrease the public expenditure rate (PER), and if so, to what level. Another...

Outlines the process, which commenced at least a century ago, during which appropriate prerequisites for rapid growth were established. Explains that, by 1960, Korea already possessed a semi‐developed economy, in terms of physical infrastructure, economic and financial institutions and human...

The success of several newly industrialized countries has created a renewed interest in the role of government in economic development. In contrast to the industrialization of the West, the government was much more involved during the development process of these east Asian nations. Attempts to...