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China's trade surplus with the U.S. is now more than a quarter of the U.S. trade deficit and, with China growing faster than the U.S., raises questions about its future course. Some media commentators term the chronic trade surplus "mercantilist" but offer no persuasive motive for it. Academics...
Persistent link: https://www.econbiz.de/10005562320
This book originated from a 2010 conference marking the fortieth anniversary of the publication of the landmark "Phelps volume," Microeconomic Foundations of Employment and Inflation Theory, a book that is often credited with pioneering the currently dominant approach to macroeconomic analysis....
Persistent link: https://www.econbiz.de/10010681702
A growing body of evidence has documented the critical role that entrepreneurs play in fostering economic growth. But entrepreneurs can only be expected to take risks in ‘open settings’, where individuals and firms are free to contract with one another. In this important book,...
Persistent link: https://www.econbiz.de/10011174820
This article explores the question of how the U.S. economy has managed to maintain (or even increase) its lead over other nations in per capita income and the average productivity of its workforce. The answer provided in the author's recent book is that such productivity depends on the greater...
Persistent link: https://www.econbiz.de/10005005196
Many observers have warned that the next stage of globalization-the offshoring of research and development to China and India-threatens the foundations of Western prosperity. But in this article, the author explains why the doomsayers are likely to be wrong. Copyright Copyright (c) 2009 Morgan...
Persistent link: https://www.econbiz.de/10005005199
This paper focuses on non-Information Technology businesses operating in the city of Bangalore, India. Data on firms compiled from statutory regulatory filings suggest that the number and proportion of businesses that expand rapidly are much lower than in the United States. In-depth interviews...
Persistent link: https://www.econbiz.de/10005690572
Entrepreneurs may undertake bad projects because they unwittingly rely on defective or incomplete information to estimate the returns. Investors' concerns about such misjudgements are relatively low when the entrepreneurs' knowledge about their projects has been well calibrated. But if the...
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