We consider a simple overlapping generations model with an externality `a la Arrow-Romer. A government with the power to tax wishes to maximize the utility of the agents alive in period 0, and possibly that of their children. Is there a natural relative weight for the utility of the current old...

Books reviewed in this article: K. Hoover, Casuality in Macroeconomics Jason Potts, The New Evolutionary Microeconomics: Complexity, Competence and Adaptive Behaviour Stephen Dobson and John Goddard, The Economics of Football Hazel Bateman, Geoffrey Kingston and John Piggott, Forced Saving:...