This paper works out some of the basic properties of an economy with energy as a factor of production. The economy now consists of streams of energy conversions that direct energy to the production of goods and services. The focus on energy generates a variety of insights. It yields a new...

This paper presents a schematic history of the global economy since 1800. The economic and political logic of global capitalism in this period is defined by its ability to derive a growing share of its energy from fossil fuels. The explosive growth of this period, the dominance of capital, the...

The present system of tenure in American colleges – combined with a dramatic rise in the proportion of non-tenure-track faculty – has led to a near-closure of active markets for most tenured faculty. In turn, this produces two types of mismatches: some departments/colleges have faculty they...

A review of economic thought since the sixteenth century reveals two streams of economic discourse, dirigisme and laissez-faire. Starting with the mercantilists, dirigiste approaches to economics embrace the real-world complexity of commodities that often differ greatly in attributes that are...

An examination and critique of the functionalist literature on corruption in the political administration of less developed countries (LDCs) indicate that its claims are without empirical foundation. Its theses with regard to the political, economic and administrative effects in most LDCs...

It has often been argued that bribery creates auction-like conditions and, hence, improves allocative efficiency of bureaucratic decisions. This article shows that these auction-like conditions are not likely to exist because officials will restrict access to bribery in order to reduce the risks...