In his analysis of the affluent society, Galbraith argued that advertising and the sales promotion activities of firms create wants for people, which makes them consume more without making them better off, because their wants were artificially created. Thus, in the affluent society,...

It has been argued that aggregate-supply/aggregate-demand (AS/AD) models suffer from an inconsistency because they assume that firms set price and adjust quantity for the AD curve and are profit-maximizing price takers for the AS curve. It is shown that this inconsistency is rife in intermediate...

Recent debates about the nature and desirability of pluralism in economics suffer from a lack of clarity about the meaning of pluralism. This paper attempts to remedy some aspects of this problem by distinguishing between different dimensions of pluralism, that is, epistemological, ontological,...

This book presents a critical analysis of the role of international institutions and their performance in terms of justification, effectiveness and efficiency. The authors begin by discussing the controversies surrounding the Tobin Tax in the context of global governance. They move on to address...

In the 1950s, Gunnar Myrdal pointed out that while inequality between regions within many economically advanced countries was falling due to the policies of national government, inequality between countries was growing, given the absence of anything resembling a world government. Since then,...

This timely and important book presents a unique study of happiness from both economic and political perspectives. It offers an overview of contemporary research on the emergent field of happiness studies and contains contributions by some of the leading figures in the field.

This short, concise work examines alternative paths to economic development-with special reference to the Indian context-from a broad general perspective that relies on theoretical analysis and historical, contemporary development experience, simplified for the non-specialist reader. It first...

A model of North-South trade is developed in which TNCs invest in the South to produce a good competing directly with the Northern good. It implies that the liberalization of direct foreign investment to the South increases the long-run equilibrium rate of both Northern and Southern growth....