Schumpeter chastised Ricardo for his alleged "vice" - the so-called "Ricardian Vice" - of drawing far reaching policy conclusions from utterly simplistic models, which, moreover, were underdetermined. The paper first argues that Schumpeter saw Ricardo's approach to the theory of value and distribution through a marginalist lens and therefore arrived at a distorted picture of the latter. Several...

This work focuses on a cellular system scenario of a single base station broadcasting incoming files (or users) to multiple receivers over a time-varying channel. The basestation sets a price per receiver and per file to maximize its profit. The files may or may not enter the system depending on the price of service, the delay performance and their randomly determined valuations. Under this sce...

ANNALS EDITORIAL the six decades of Indian independence have witnessed too many plans, papers and proposals giving top priority to the health issues in India. Unfortunately, despite huge economic growth, health continues to be the greatest predicament. Even the WHO slogans 'Health for All', 'Millennium Development Goals and more recently 'universal health care have not translated into meaningfu...

This paper sets up a two country monopolistic competition model with intra-industry trade to study the effects of an exogenous differential in wage and social policies on the location of industry. Two model scenarios are considered. In the traditional one with physical capital, such a differential induces a relocation effect which increases with the level of trade integration. The ‘new economic...

Once again it is a pleasure to have this opportunity to speak to members of the ABE. I believe – I hope correctly – that business economists share our interest in seeking out practical policy responses to our problems. Today, I would like to offer some comments on current economic trends and their implications for policy. They will have a familiar ring to many of you. Looking back for a moment,...

the purpose of this paper is to reconsider the theoretical basis and paradigms of policy making and economic policies in iran which is not appropriate to economic problems of the country. to do so, we introduced the multilevel and ultra-paradigm pattern for economic policy making in the country. the multilevel and interdisciplinary approach have been proposed as a solution for reforming the eco...