Western governments usually are sent about 30% of GDP for social purposes. Financing is carried out due to tax payments through the system of taxes from current revenue (hereinafter - PAYGO, pay-as-you-go). How effective such transfers, and whether the market or other mechanisms to improve this...

Western governments usually are sent about 30% of GDP for social purposes. Financing is carried out due to tax payments through the system of taxes from current revenue (hereinafter - PAYGO, pay-as-you-go). How effective such transfers, and whether the market or other mechanisms to improve this...

Body weight has risen in defiance of health and appearance norms. The social epidemics of overeating and slimming were driven by market forces and the psychology of eating: restrained eating is easily disinhibited by stress. For men, the rise in body weight was associated with the decline of...

Banking in the UK was stable for more than a century after 1866. Financial institutions were differentiated according to function. The core banks did not engage in maturity transformation, but in managing a payments system for business. Real estate was a potential source of instability due to...

Western governments typically pay out some 30 percent of GDP for social purposes.  This is financed by taxation on a pay-as-you-go (PAYGO) basis.  How efficient are these transfers, and can market or other mechanisms do it better?  The problem arises since no individual stands alone.  During...

A large majority of the labour force were manual workers in 1960.  As voters, they had electoral power to pursue collective goods.  As producers they were able to disrupt production.  The majority left school with no qualifications.  Their human capital consisted of skills specific to...