For poor people at the village level, petty corruption involving a payment of as little as $10 for a free medical service can have devastating effects on their lives. What makes the situation even worse is that most of the people who are faced with inadequate services and corrupt officials are...

This chapter reviews the theory of the voluntary public and private redistribution of wealth elaborated by economic analysis in the last forty years or so. The central object of the theory is altruistic gift-giving, construed as benevolent voluntary redistribution of income or wealth. The theory...

Based on the ontological and epistemological problems and solutions and on the analysis of the philosophical grounds of three main schools of economics, exposed in the previous papers, a short overview of the philosophy of the multilevel reality is done. It is shown that the hierarchy of the...

Nowadays, academic journals of high standing rarely accept a conceptual idea in a paper not instantly accompanied by econometric estimates. The idea would almost certainly get rejected. Empirical validation based on past statistical data has produced an unfortunate backward orientation in...

Nowadays, academic journals of high standing rarely accept a conceptual idea in a paper not instantly accompanied by econometric estimates. The idea would almost certainly get rejected. Empirical validation based on past statistical data has produced an unfortunate backward orientation in...

The informational content of prices hypothesis in Modigliani and Miller (and Fisher before them) advocates that organizations’ market prices could somehow estimate their growth prospects and intangible assets. For this estimation, discounted cash flow models are frequently employed. However,...

The purpose of this study is to estimate the effects of Real Effective Exchange Rate (REER) on Sudan trade balance (TB). The present situation is confusing for all in Sudan with discrepancies in market effective foreign currencies and government declared prices. For example, one US$ in the...

A strong and competitive Travel and Tourism (T&T) sector contributes in many ways to the development of a region or an economy. It makes both direct contributions, by raising the national income and improving the balance of payments, and indirect contributions, via its multiplier effect. Tourism...

Many historians now reject quantitative methods as inappropriate to understanding past societies. It is argued here, however, that no sharp distinction between qualitative and quantitative concepts can be drawn, as almost any concept used to describe a past society is implicitly quantitative....