First published in 1981, this book brings together a collection of essays on microeconomics and development presented at the conference of the Association of University Teachers of Economics. Topics covered include the intergenerational transfer of economic inequality, a review of the recent development in the theory of equity in the economy’s distribution and production process, labour and unemployment, market structure and international trade, taxation and the public sector, Third World industrialisation and Indian agriculture. This book will be of interest to students of Economics and Development Studies.
List of Contributors; Executive Committee of the Association of University Teachers of Economics; Editors’ Introduction; The Harry Johnson Memorial Lectures; 1. An Equilibrium Theory of the Distribution of Income and Intergenerational Mobility Gary S. Becker 2. Application of the Theory of Superfairness William J. Baumol; 3. Contract Theory, Temporary Layoffs and Unemployment: A Critical Assessment Christopher A. Pissarides Discussion: John D. Hey 4. Dominant Firm Models of Resource Depletion A.M. Ulph and G.M. Folie Discussion David M.G. Newbery 5. Property and Commodity Taxes and Under-Provision in the Public Sector N. Topham Discussion: J. Mirrlees 6. Life Insurance and Asset holding in the United Kingdom A.F. Shorrocks Discussion: D.M.W.N. Hitchens 7. Unemployment Equilibrium when Production is a Function of Average Hours and Number of Workers P. Madden Discussion: David Ulph 8. Goodwill — Investment in the Intangible John D. Hey Discussion: Ivy Papps 9. The Value of Non-Marginal Changes in Physical Risk M. Jones-Lee Discussion: Clive D. Fraser 10. Price-Cost Margins, Market Structure and International Trade Bruce Lyons Discussion: B.J. Loasby 11. On the Nature of Industrial Market Power in the U.K. Tim Hazeldine Discussion: P.A. Geroski 12. Factors Affecting the Growth of the Firm — Theory and Practice Aubrey Silbertson Discussion: Richard Allard 13. The Causes of Shift working in Great Britain D. Bosworth, P. Dawkins and T. Westway Discussion: D.G. Leslie 14. Short Run Growth Effects in a Model of Costly Migration with Borrowing Constraints: Will Rural Development Work? S.M. Kanbur 15. Estimation of Cross Section Production Functions Under Structural Change in Indian Agriculture A. Parikh and P.K. Trivedi Discussion: P.N. Junankar 16. Third world Industrialisation and the Structure of the World Economy Ajit Singh