One of the proudest achievements of classical and neoclassical economics is the derivation of the superiority of free trade. This result is obtained by assuming constant returns to scale, perfect competition and absence of externalities. The recent realization that the incomplete appropriability...

If productivity growth is endogenous, the question of whether to allocate some resources to increase the efficiency of capital needs to be examined in spite of the conventional wisdom that only Harrod-neutral technical progress is compatible with the steady state. This paper describes the...

Organization, Performance and Equity: Perspectives on the Japanese Economy provides an analysis of key components of the Japanese economy and business structures, edited by two leading American-based Japan scholars. The contributions to this book are grouped into four major categories:...