The paper provides a realistic explanation for the persistently large loan costs in the informal and formal credit markets of South Asia. In the presence of the adverse selection problems that arise from information asymmetries and discrepancies in credit services, price competition in somewhat...

John Adams, the second president of the United States, and Thorstein Veblen are two of the nation's most original social thinkers. Although there is no evidence of any direct link between the two, they share common views of economic affairs. They believed that consumption was driven by emulation...

This study examines the appropriateness of the New Deal in targeting specific groups of unemployed job-seekers. This was achieved using a survey of unemployed job-seekers carried out prior to the implementation of the New Deal framework in April 1998. A sample of 169 unemployed job-seekers in...