The Relative Permanent Income Theory of Consumption: A Synthetic Keynes-Duesenberry-Friedman Model

Making sense of classical theory

Kates, Steven, (2018)

This note explores Smith’s employment of the concept of ‘productive labour’, a concept which commentators have frequently found problematic. We suggest that Smith’s difficulty in formulating a satisfactory definition of ‘productive labour’ stems from the fact that he seems to have had in mind - and to have tried to combine - two different (but only independently valid), concepts of productive ...

Grieve, Roy, (2008)

Professor Yunus on “social business” and the conquest of poverty: a dissenting view

Grieve, Roy, (2008)