Devaluing to prosperity: misaligned currencies and their growth consequences*

Anomic Aspirations of Youth and Their Consequences

Since a decade ago, Iran has been in economic crisis and anomic situation. Peoples’ aspirations and goals are of the factors and mechanisms that transform economic crisis into social problems and deviances. Accordingly, present research studies levels of youth aspirations, particularly economic aspirations, and their consequences. Using a survey method, youth between 25-30 years of age have bee...

Manufacturing Growth: What is the path to prosperity in Africa?

What prevents sub-Saharan Africa from escaping poverty through the development of significant manufacturing industries? The first category of constraints are those external to firms, about which we have economic theories: scarcity of physical capital, taxes, poor infrastructure, lack of human capital, corruption, trade costs. A second category are those internal to firms, about which we know li...

Universities, key to prosperity.

By almost any measure, U.S. research universities are consistently ranked among the best in the world. Beginning with the Morrill Act (Land Grant College Act) of 1862, federal and state policies have underscored the nation's commitment to building the finest research institutions. As such, U.S. universities have been the incubators of the nation's prosperity. E. I. du Pont de Nemours and Compan...

Growth Building Jobs and Prosperity in Developing Countries

Public education and economic prosperity: semi-endogenous growth revisited

We introduce publicly funded education into R&D-based economic growth theory. Our framework allows us to i) explicitly describe a realistic process of human capital accumulation within these types of growth models, ii) reconcile semi-endogenous growth theory with the empirical evidence on the relationship between economic development and population growth, and iii) revise the policy invariance ...