In an ideal world, primary education would be universal and publicly financed, and all children would be able to attend school regardless of their parents’ ability or willingness to pay. In many poor countries, however, governments lack either the financial resources or the political will to...

This paper is concerned with economic consequences of unethical governance. A framework is set out, based on principles of Friedrich Nietzsche, that ties poverty and inequality to unethical behavior of the strong toward the weak. The paper contributes to an understanding of why poverty and...

In an ideal world, primary education would be universal and publicly financed, and all children would be able to attend school regardless of their parents’ ability or willingness to pay. In many poor countries, however, governments lack either the financial resources or the political will to...

We argue that perceived fairness of the income generation process affects the association between income inequality and subjective well-being, and that there are systematic differences in this regard between countries that are characterized by a high or, respectively, low level of actual...

The risks to the global economy are growing and so are risks to Russia’s growth. Russia’s short-term economic and fiscal situation remains favorable because of high oil prices with an almost balanced budget this year. But the balance of macroeconomic risks has shifted toward an uncertain...

An article reviewing Bulgaria's early market reforms implemented under harsh external conditions and considerable dislocation of the local economy. The article predicted that realistic growth scenarios for must be predicated on a debt and debt service reduction on Bulgaria's large external...

The note provides an argument for a rapid economic transition in Eastern Europe, inter alia, by comparing and contrasting the initial conditions and different institutional environments in Eastern Europe and China

This note demonstratres a potential theoretical problem in achieving general equilibrium in an economy composed of competitive firms maximizing income per worker, under conditions of fixed capital; a problem which might suggest that disequilibria in some markets might be a rule rather than...