Keynes was a member of the Bloomsbury group, a group that took its credo in some measure from the philosophy of G.E. Moore. However Keynes was unable to follow through the implications of this early influence into his economics cumbered as he was with his ‘Marshallian baggage’....

The relationship between organizations and environment is examined within the context of General Systems Theory. It is argued that the policy problem confronting the modern organization is to cope with environmental turbulence. Three modes of coping with fundamental uncertainty are identified....

It is shown, using a large national survey, that risk taking attitude influences both heavy and daily drinking. There are also significant effects of age, religion, education and situational factors. Some factors also differ by gender notably the effect of working away from home.

Eleven European countries have now joined together in monetary union with a common currency and a common monetary policy. Whether a group of economies should form a monetary union depends upon how closely it resembles an optimum currency area. In general, an area where prices and wages are...

It is widely accepted that neoclassical economics has largely neglected the role of entrepreneurial activity and the process of new firm formation. Similar shortcomings are not found in evolutionary economics, which views economic activity in ways closely resembling the observed reality of the...

This paper presents a review of the extensive literature concerned with estimating production and cost inefficiencies in banks. The meaning of inefficiency in this context is outlined, alternative estimation techniques are summarised and the problems of modelling the activities of banks and...

Conventional transition policies of a predominantly macroeconomic character have done a good deal to create necessary conditions for building the knowledge-based economy in the countries of Eastern Europe and the former Soviet Union. Establishment of sufficient conditions for such an evolution...

Transcending all barriers between economics and politics, this interdisciplinary approach has successfully carved out a niche for itself. In the present study we take the reader on a guided tour into the territory of the Public Choice School. One crucial distinction of this survey article is...

Definitions of goods and services (goods) in standard economic text-books are criticised. Clearer definitions are made by linking the concept of intrinsic properties of goods to consumer utility theory and to the reality of the market place by using Lancaster’s “characteristics...