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In a capitalist system based on free markets, do managers have responsibilities to the system itself? If they do, should these responsibilities shape their behavior when they are engaging in the polit...
This paper integrates theories of political budget cycles with theories of tactical electoral redistribution to test for political capture in a novel way. Studying banks in India, I find that governme...
The idea of public interest has been criticized by economic theory as being naïve in its believe that politicians could anticipate something like the public interest. Public Choice theory has sho...
We measure the capitalization of housing market externalities into residential housing values by studying the unanticipated elimination of stringent rent controls in Cambridge, Massachusetts, in 1995...
We offer a unified analysis of the growth of low-skill service occupations between 1980 and 2005 and the concurrent polarization of US employment and wages. We hypothesize that polarization stems from...
In simulations of some economic gas-like models, the asymptotic regime shows an exponential wealth distribution, independently of the initial wealth distribution given to the system. The appearance of...
The Market Technicians Association (MTA) was incorporated as a not-for-profit Association in 1973, but began holding meetings as early as 1971. There were 18 charter members in 1973, but the 3 “founde...
JCMS: Journal of Common Market Studies is the leading journal in the field, publishing high quality, and accessible articles on the latest European Integration issues. For 40 years it has been the for...
The aim of this paper is to contribute to a better understanding of the market and the firm through an analysis of the coordination problem. An important question is to what extent the nature and pr...
There has been a widely accepted belief that certain labor market institutions, including high taxation and generous benefits, can lead to low employment and/or high unemployment. To what extent do su...
There is in every society or neighbourhood an ordinary or average rate both of wages and profit in every different employment of labour and stock. This rate is naturally regulated, as I shall show her...
1As it is the power of exchanging that gives occasion to the division of labour, so the extent of this division must always be limited by the extent of that power, or, in other words, by the extent of...

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