This paper argues that Sen's capability approach requires that judgements about the relative goodness of states of affairs must be based exclusively on 'properties' of individuals. Functionings and capabilities are seen, like utility and opulence, as objects of value which individuals...

This paper argues that the global recession of 2009 marks the ending of a global development cycle which began in the early 1950s. The long-wave rhythm of production and prices in the global development cycle is generated by the life cycle of investment and innovation during a technological...