This updated edition has been comprehensively revised to develop the themes contained in the first edition, taking into account the changes that have occurred in the global economy since the turn of the millennium

A quick primer on consumer demand -- Perfect competition and Pareto optimality -- Forms of the social welfare function -- External effects and the market mechanism -- The theory of pure public goods -- Topics in the theory of public goods -- The effects of taxes on savings -- Taxation and labor...

We explore the links between migration of labour and location specific (urban) pollution, suggesting a sense in which pollution can be welfare improving. In a conventional Harris-Todaro model of urban-rural migration, individuals migrate so as to equate the expected urban wage (given a downward...

Introduction: Srivastava and Sen (1997) have advanced a framework for the study of government subsidies in India. Their approach estimates subsidy as the un-recovered costs in the provision of goods and services by the government (see the next section for various definitions of subsidy)....

The Environmental Sustainability Index (ESI) has been proposed by collaboration of the World Economic Forum, Geneva, Center for International Earth Science Information Network, Columbia University, and Yale Center for Environmental Law and Policy, New Haven as a measure of the overall state of...

In India, the pace of financial innovation was relatively slow until the initiation of the financial liberalization program in 1991–92. The subsequent financial reforms have had important implications for the user costs of assets and resulted in significant substitution among them. Hence there...