<title>Abstract</title> In the wake of Musgrave's move to question the absolute hegemony of individual preferences for normative economics in the 1950's by propounding the existence of merit goods, a recent book by Thaler and Sunstein is now making a similar claim under the label of ‘libertarian...

<title>Abstract</title> This paper makes a critical intervention to on-going theoretical and policy debates in the economic analysis of labour market institutions (LMIs) in the context of recent debates in India. It focuses on the internal inconsistency of mainstream economic analyses of LMIs, in particular...

<title>Abstract</title> Conventional economic wisdom views a Living Wage as costly in term of economic efficiency and competitiveness. I argue, based on x-efficiency theory, that higher wages need not cause any economic harm and can, on the contrary, generate higher levels of material wellbeing. Higher wages...

<title>Abstract</title> We propose to reframe Social Security to offer a coherent anti-privatization rhetoric that has not been fully provided in the contemporary literature. The dissatisfaction that motivated this study centers on the observation that the prevalent anti-privatization rhetoric exposes the...

<title>Abstract</title> Guy Routh was an outstandingly incisive and severe critic of mainstream economic theory's abstraction, class bias, and empirical irrelevance. Routh's <italic>The Origin of Economic Ideas</italic> (1975 1989), with such chapter titles as “The Preposterous Origins” and “From Propaganda to Dogma”,...

<title>Abstract</title> This paper uses data from the US economy and finds that among Marxist theories of crisis the marxian law of the falling rate of profit as a result of the increasing composition of capital explains the crisis of the 1970s and the end of the “golden age” of capital accumulation....

<title>Abstract</title> Until the emergence of the New Economics of Labor Migration (NELM) in the 1980s, migration scholars were largely divided into two main theoretical camps, viz. the neoclassical and historical-structural approaches to migration. Against this background, the NELM presented itself as a...

<title>Abstract</title> Recent years have witnessed a process of integration of the Indian Union within the new international economic order, characterised by the ascendance of neoliberalism. Orissa, historically one of the Indian states mostly affected by severe poverty and economic stagnation though richly...

<title>Abstract</title> Emil Lederer was characterized as the “leading academic socialist of Germany in the 1920’s” by Joseph Schumpeter and was a highly respected economist of his time. However, most aspects of his work remain totally unexplored. This paper focuses on Emil Lederer’s theory of economic...