Maintaining today’s global imbalances would help to overcome the major disproportion of our times – income gap between developed and developing countries. This gap was widening for 500 years and only now, in the recent 50 years, there are some signs that this gap is starting to decrease. The...

China is in the process of overtaking the US as the world's largest economy, and a few other East and South Asian countries are steadily increasing their presence in global markets. The authors of this book agree that the contours of a "different" economic and political order are emerging as the...

We suggest a dynamic game theoretic model to explain why resource abundance may lead to instability of democracy. Stationary Markov perfect equilibria of this game with four players – Politician, Oligarch, Autocrat and Public (voters) – are analyzed. Choosing a rate of resource rent tax,...