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This text is part of the subject matter of the course on Basics of Traffic Engineering (H111) taught to the students in the Department of Civil Engineering at the Katholieke Universiteit of Leuven (Belgium). The text is intended to introduce the student to some elementary principles of transport economics and may serve as a stepping stone to more advanced courses. This is a preliminary version …
In a series of recent writings we have sought to re-open a debate over the economics of socialism. We have argued that the collapse of the Soviet system does not necessitate the conclusion that all forms of socialist economy are doomed to inefficiency. Updating and extending a line of reasoning found in Lange (1967) and Johansen (1977),1 we have claimed that modern information technology permit…
There was a time when by the "new economics" was meant the Keynesian economics, which was notable as a response to the depression of the 1930s. The new onomics that is struggling to grow today is something very different. It constitutes our response to a new set of problems which was only dimly perceived earlier, but has steadily grown in urgency over the last quarter of this century. It attem…