The book Capital in the Twenty-First Century by Thomas Piketty (2014) has renewed the public and scholar debate about wealth and income inequality. Theoretical critiques have focused their attention on a regularity pointed out by the author, namely, the growth rate of the economy is lower than...

Modern microeconomics foundations of industrial regulation policies were developed during the second half of the 19th century. One of the main theoretical and applied debates which is still an issue today concerns natural monopolies. Railroads were at the center of these debates, because of...

This paper presents Léon Walras and Augustin Cournot views on monetary regulation. Important differences can be found in their views about the convenience of the issuing of paper money and fiat money in general. Whereas Walras is against bank notes, even if coming from a central bank, Cournot...

Increases in capital shares affect the marginal productivity of capital, stimulating capital accumulation. Can a decrease in labor shares reduce the supply of labor? We explore this question using a model of fertility inspired by Caldwell (1982) and Boldrin and Jones (2002). Individuals may...