This paper discusses the two leading views of history and political institutions. For some scholars, institutions are mainly products of historical logic, while for others, accidents, leaders, and dec...
On 20 Jan 2014 Is capital allocated so that its marginal product is equated to the market
interest rate? Is the marginal product of capital equalized across its alternative
uses. This paper attempts to answer both...
On 08 Mar 2011 Economists are excessively influenced by the so-called positive
economics view, which says that economists should only describe and not
prescribe. Here the author argue that this view is flawed beca...
On 04 Mar 2011 This paper shows how the productive interplay of theory and experimental work has
furthered our understanding of credit markets in developing countries. Descriptive facts motivated
a body of theory,...
On 28 Feb 2011 |