J. E. Meade was among the most distinguished of modern economists, noted for his contributions to economic theory and policy. This volume presents a series of models of economic systems, each built on greatly simplified assumptions about human motives, technology, and social institutions, and undertakes in each case a series of exercises to examine the links of causal relationship in each case. The Stationary Economy is a rigorous and elegant non-mathematical statement of the basic princip...

In this sequel to his widely praised classic study of The Stationary Economy, Nobel Prize winning economist J. E. Meade continues his systematic treatment of the entire fi eld of economic analysis. He uses a series of simplifi ed models designed to show the interconnections between various specialist fi elds of economic theory.The Growing Economy departs from the position of static equilibrium Meade assumes in The Stationary Economy. Here he deals with equilibrium growth. Meade introduces ...

First published in 1983, this is the second of two volumes on the causes and cure of stagflation – that combination of mass unemployment and rapid inflation that is currently afflicting the mixed economies of the industrially developed world. The authors deplore the unemployment due to the failure of governments to adopt Keynesian measures for the expansion of economic activity, but recognise that in present conditions such measures would lead to an unacceptable and explosive inflation of ...

Examining the relationship between employment and rates of pay, this book discusses how the choice between different forms of business organization may affect this relationship. For the purposes of the discussion a simple model of an imperfectly competitive economy is constructed and then examined in operation with different organizational forms for the competing firms. Chapters cover the following: The Captialist Wage Economy; The Non-Discriminating Labour Co-operative; The Capitalist Sha...

Societies consider certain institutions and activities as central, proper, and visible, while others are defined as peripheral, deviant, and private. Vilhelm Aubert takes us to the ""hidden"" societies: the privacy of love, the secrecy of the underground, the remoteness of a ship, the isolation of the ill, the retirement from social life into sleep, and similar fascinating topics.Vilhelm Aubert, a professor of sociology in the Law Faculty of Oslo University and a member of the board of dir...

This reissue, first published in 1982, is the first of two volumes on the causes and cure of Stagflation - the two-headed monster that combines mass unemployment with rapid inflation, which affected contemporary economies across the industrially developped world in the 1970s.Professor Meade outlines the nature of the problem, contrasting the Great Slump of the 1930s with the Great Stagflation of the 1970s and comparing the Orthodox Keynesian and Monetarist approaches with the New K...

Orthodox economics operates within a hypothesized world of perfect competition in which perfect consumers and firms act to bring about supposedly optimal outcomes. The discrepancies between this model and the reality it claims to address are then attributed to particular imperfections in reality itself. Most heterodox economists seize on this fact and insist that the world is characterized by imperfect competition. But this only ties them to the notion of perfect competition, which remains...

Duncan Foley provides an alternative to Keynesian and 'new classical' macroeconomics, based on the Marxian theory of capital.

A collection of essays analyzing the economic factors underlying human decision-making from the Nobel Prize–winning American economist.Since his pioneering application of economic analysis to racial discrimination, Gary S. Becker has shown that an economic approach can provide a unified framework for understanding all human behavior. In a highly readable selection of essays Becker applies this approach to various aspects of human activity, including social interact...

Should Malaysia build a new steel mill, or New York City an urban motorway? Should higher education expand, or water supplies be improved? These are typical questions to which cost-benefit analysis, the key economic tool for analyzing problems of social choice can contribute to, as well as providing a useful vehicle for understanding the practical value of welfare economics. This invaluable text covers the main problems that arise in a typical cost-benefit exercise.Cost-benefit ana...

The causal relationship between growth and inequality is complex, and there have been many scholarly works to study this relationship since the seminal work of Kuznets in the 1950s. Few recent studies in this field have shown that the nature of relationship is multifaceted and non-linear. In addition to the intrinsic non-linear nature of the relationship, government and institutions play pivotal role in distributing the benefits of growth to reduce inequality. The responsiveness greatly de...