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Many economists argue that economic analysis should avoid the distributional consequences of policies. In democratic countries, however, the political power of individuals inevitably reflects their wealth and income. You cannot have a democracy when income and wealth...
This book revisits a distinction introduced in 1921 by economists Frank Knight and John Maynard Keynes: that between statistically predictable future events ('risks') and statistically unpredictable, uncertain events ('uncertainties'). Governments have generally ignored...
Public finance is an important branch of economics. Over the years it has become more important, more controversial, and more complex. Much of the academic writing on it is highly theoretical, and it is often done by economists who have had little real world experience....
In Termites of the State, renowned public economist Vito Tanzi presents a sweeping account of the industrialized world's economic development during the twentieth century to today.In the tradition of grand economic histories, Tanzi connects the biggest issues of the...
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