In normative public economics it is crucial to know how fast the marginal utility of income declines as income increases. One needs this parameter for cost-bene[fi]t analysis, for optimal taxation and for the (Atkinson) measurement of inequality. We estimate this parameter using four large...

A new perspective on life satisfaction and well-being over the life courseWhat makes people happy? The Origins of Happiness seeks to revolutionize how we think about human priorities and to promote public policy changes that are based on what really matters to people. Drawing on a range of...

In his review of theoretical and empirical research on grievance procedures, Lewin (1999) states that the “grievance procedure is widely regarded by scholars and practitioners as the centerpiece of union-management relations.” It is somewhat strange, then, that a trawl through British...

Macroeconomics would not be what it is today without Edmund Phelps. This book assembles the field's leading figures to highlight the continuing influence of his ideas from the past four decades. Addressing the most important current debates in macroeconomic theory, it focuses on the rates at...

Deplores the paucity of vocational education and training (VET) in the UK, especially for the young, citing bad economics as a major reason for the deficiencies. Examines the priorities which need to be addressed in expanding the system, arguing for full‐time versus part‐time training,...