Investigates the Phillips curve at the level of the local labor market in the United States, employing occupational wage rates as a measure of the price of labor. Occupations that were selected; Results of regression analysis; Variations in the relationship between unemployment and wage changes by...

Presents a revised mathematical model of labor-force participation in which the ratio of job vacancies to the number of unemployed is used to represent labor market conditions. Fundamental proposition of earlier market-conditions models; Variation of the labor-force participation rate of...

Constitutional economics proposes and pursues a solution to public-policy problems, one that supplies rules designed to narrow the opportunity set of rational politicians. This work proposes and pursues “rational policy” as a complementary strategy to solve public-policy problems, where...

This paper explores a new phenomenon which is assuming global proportions: the planning and construction of artificial islands. Varying in size, shape, and purpose, man-made islands are looming on the horizons of an increasing number of aspiring global cities and regions at the margins of global...

All industries are based upon a core of knowledge. Economic evolution is the growth of this knowledge as an experimental and path-dependent process involving markets, firms, finance, entrepreneurship, and often substantial uncertainty. In the set of industries associated with information...