"Public pay-as-you-go pension systems induce low fertility rates, which in turn contribute to the insolvency of those very systems. They have replaced the old-age security motive for having children, which is a major factor behind fertility in their absence. They also penalise fertility by...

"Nigeria is a prime example of a developing country with ill-defined property rights. However, people still manage to save, mostly through traditional and informal means, facilitated by strong family and community institutions. This paper argues that the government should concentrate on...

"Market-based pensions are developing slowly in India because of distorting tax rules and draconian investment regulations. Recent reform proposals point in the right direction but fail to address the fundamental issues. Instead of creating large-scale pension policy blueprints, India needs to...

The object of all economic enquiry is the human person under the aspect of behaviour within limited resources. Consequently the truth of any economic theory ultimately hinges on the truth of its philosophy of man. This essay analyses modern economic thought from two perspectives: firstly, from...