Education is a key factor in promoting and sustaining economic growth and technological development. It is a complex social, cultural and ethical process designed in a social or cultural context. Education in its broadest sense is any act or experience that has formative effect on the mind, character or physical ability of an individual and in its technical sense education is the process by whi...

The old ungraded school, whatever else may bo said about it, had one splendid feature that the graded school has never attained; namely, its instruction was individualistic. On the other hand, the graded school has come to us as an administrative necessity; its economic aspect is unmistakable, and it has made possible the education of the masses. Once with us, we were quick to discern that the ...

This note shows that there are monetary equilibria in the model of overlapping generations that are in the core. Some equilibria have positive stocks of outside money in every generation. These equilibria are thus self-enforcing, and introducing money into an economy need not be tantamount to contriving a new social institution designed to enforce sequential contracts. Journal of Economic Liter...

ost organizations are governed by a board of directors. In fact, having a board is one of the legal requirements for incorporation. Many nonincorporated entities also have a governing board of some sort, such as a state university’s board of regents. Given the myriad boards in place today, it is reasonable to ask, why do they exist? What do they do? Can they be “improved”? These questions are a...

This paper is concerned with three questions: (a) how would a stockmarket help economic and industrial development in a country like China; (b) will a stockmarket be system-compatible; and (c) if a full-fledged stockmarket is indeed introduced in a socialist economy, can its “negative influences” (speculation, booms and crashes) be minimized? These issues are examined analytically with the help...