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The Hindu doctrine has broad covering laws for the description and management of crises. Economic swings are covered under a theory of long cycles that parallels the Golden, Silver, Bronze, and Iron ages of the West. Order breaks down in each cycle, and society is reconstituted anew. The individuals and ruler produce, accumulate, and distribute wealth in each epoch in accordance with scriptural injunctions, and crises occur when the codes of eternal religion are broken. In the process of their everyday experiences, people are urged to adhere to the truth, to be conscious of their true nature, and to pursue happiness. The ruler is charged with managing economic affairs with proper council. Within that broad framework that has been morphing over history from foreign invasion-to-invasion, operational elements can be drawn out for any crises situation.

This paper develops a model of dealership rivalry for the U.S. auto industry in line with the research program of Joe Bain. In Bain's research, the literature depicts the auto industry as a differentiated oligopoly with non-price competition and price collusion. It has established advertising and R&D rivalry successfully, but has focused little attention to dealership competition. Because Bain has given a dominant role to dealership competition, this paper addresses the dealership rivalry problem. We found that a competitive model allowing a firm to react to a rival's past levels of advertising, R&D outlays, and the number of dealers, represents the firms' non-price competitive behavior well for the 1970–1996 period. The hypotheses we used have captured the joint effects of advertising, R&D, and dealerships, when explicit specifications for the financial constraints facing the firms are accounted for. We are able to statistically validate the hypothesis that U.S. firms do compete in dealership systems, as Joe Bain has predicted, within the differentiated oligopoly market structure. The results also allow some inferences regarding the sequential nature of non-price competition among the firms.

This paper presents the theoretical and empirical bases for the performance of the U.S. rental market during the 1970–1994 period. On the theoretical side is a renter maximization problem using a state dependent, intertemporal, discrete choice utility function with constraints relating to budget, credit, FHA, tax, and demand. On the empirical side are several statistical specifications to examine the rental market performance. We have specified a single equation model to capture the effects of FHA's participation, tax policies, and financial problems in that period. We then proceeded to examine the model's sensitivity within the disequilibrium environment of Fair, (1972, 1974) and the equilibrium environment of Maisel (1963, 1965). We also examined the results from the rational expectation point of view that was developed to explain anomalous predictions in that period. We found that the results do not reject the hypotheses that spurious tax policies, lower FHA's participation, and capital and credit problems have significantly influenced the decline of the rental housing production during the time period.

This paper investigates rivalry in R&D expenditures for firms within the U. S. Automobile industry. It attempts to falsify Bain's paradigm that firms in that industry collude in price, and compete primarily in advertising and secondarily in R&D expenditures. We start with a single equation model of an earlier specification that falsified R&D rivalry for the auto industry, using a smaller sample size. The result also was insignificant, lending credence to Bain's idea that a more concerted effort is needed to ascertain R&D rivalry. To accommodate Bain's hypothesis, we embedded the R&D equation within a system of equations framework, where interactions between advertising, dividend, investment, and finance are co-determined. The system model gained efficiency through explicit specifications for technological and marketing constraints. The results corroborate Bain's hypotheses that R&D rivalry is present only when R&D expenditure is foiled with advertising and other financial ratios.

This paper examines Bain's Hypothesis that firms in the automobile industry engage in advertising competition and price collusion. It develops a game theoretic model, basing price on product characteristic and advertising on pure and mixed strategies. Solution concepts such as Cournot, Nash and Prisoner's dilemma are possible. The paper then moves into regression results of advertising outlays in newspaper, general magazines, spot television, and network television, given the firm's cashflow, OPEC influence, and Leader-follower hypotheses. When multicolinearity and serial correlation are adjusted for, the results corroborate Bain's advertising hypothesis with price collusion.

Intro -- Preface -- Contents -- List of Figures -- List of Tables -- 1 Introduction and the Consciousness as the Purpose of Life -- Introduction -- Some Basic Views of the Purpose of Life -- David Hume (1632-1704) on Religion and Philosophy -- Hume's Proposition: Theists & -- Sceptics Theories -- Corollary I: Hume's Passion vs. Reason -- Specification of Hume's Model: H1…H4 -- On Passion -- On Constraints -- On the Functional Relationship -- Corollary II: Hume's Imagination vs. Reason vs. Feelings -- The Implication of Hume's System and its Elements for the Purpose of Life -- The Influence of Hume on Adam Smith -- Consciousness as the Purpose of Life -- Existence of Consciousness -- Some Main Propositions on Consciousness -- Early Proposition of Cognition [Saint Augustine of Hippo (354-430)] -- On Properties of Peace -- Propositions on Revelation [Saint Thomas Aquinas (1225-1274)] -- Saint Thomas on Fate -- Saint Thomas's "Five Ways" Application of Reason -- Saint Thomas on Economics -- Main Cognitive Proposition [René Descartes (1596-1650)] -- Phenomenal Propositions [Sir Isaac Newton (1642-1726/27)] -- Proposition on Understanding and Ideas [John Locke (1632-1704)] -- Main Perception Proposition [Gottfried Wilhelm (von) Leibniz (1646-1716)] -- Main Categorical Imperative Proposition [Immanuel Kant (1724-1804)] -- Main Phenomenological Proposition [Edmund Gustav Albrecht Husserl (1859-1938)]: Stream of Consciousness-Past, Present, and Future -- Some Individual Propositions of Consciousness -- Proposition I [Daniel Dennett]: Multiple Drafts Model -- Proposition II [Francis and Oldie Click]: The Astonishing Hypothesis -- Proposition IIa [Francis Crick and Christof Koch]: Neural Basis of Consciousness -- Proposition III [David Chalmers]: Great Divide -- Proposition IV [John Searle]: The Chinese Room Argument: The Behavioral and Rain Science.

This book is a compilation of economic views on the purpose of life. It follows a unique approach, starting with propositions from diverse fields that act as governing laws of the purpose of life in economics, then guiding the reader through the physical, philosophical, and psychological views of the purpose of life, as economics and economic theories can find their roots in all these areas. The book concludes with the purpose of life presented through economic doctrines (from the pre-classical, to classical, to neo-classical schools of economic thought), through the lens of economic development, and from the perspective of several religious doctrines.

"Examining the fundamental thinking underpinning the foundation for economic studies of happiness, this book explores the theories of key economists and philosophers from the Greek philosophers to more modern schools of thought. Lall Ramrattan and Michael Szenberg explore the general measures of happiness, utility as a method, metrical measures of happiness, happiness in literature and the scope of happiness in this concise book. Fundamentals of Happiness builds on major moral and philosophical theories from the ancient, medieval and modern schools that form the foundation of utility analysis. The authors classify the economics of happiness based on psychological, individual, social and institutional views of happiness, revealing how historical schools of thought implicitly or explicitly deal with this. The book also focuses on the relationship between happiness and society and welfare, analysing the measurement of subjective well-being. This will be an invigorating read for economics students, in particular those studying the history of economic thought, looking to understand the basic principles underlying the economics of happiness"--

Intro -- Foreword -- Preface and Acknowledgments -- Contents -- List of Figures -- List of Tables -- 1: Introduction -- Bibliography -- 2: American Exceptionalism: Quantitative and Qualitative -- Introduction -- Part I: Formal Analyses of American Exceptionalism -- Model -- Assumptions of the Model -- Description of the Model -- Political Category -- Moral Category -- The Greek Period -- The Roman Period -- The Modern Views on Fig. 2.1 -- Psychological Category -- Institutional Category -- Possible Models from our Categorization -- Model 1: Physical Models -- Model II: Nation Competing for Exceptional Position -- Model III: Tyranny of the Majority -- Model IV: Exceptional and Religion -- Model V: The Constitution and American Exceptionalism -- Model VI: American Exceptionalism in Economic Matters -- Degrees of Progress -- Degrees of Degeneration of Exceptionalism -- Part II: Empirical Analysis of American Exceptionalism -- General Measures -- The Economic Intelligence Unit Index -- Performance of the Three Branches of Government -- Conclusion -- Bibliography -- 3: American Exceptionalism from an Economic Point of View -- Background of US Economy -- Players -- Settlers Characteristics -- Indian Characteristics -- Strategies -- A Brief Historical Background of America -- Pre-Colonial Days -- American Indians -- Colonial Days -- Counterfactuals to the American Economy -- Productivity and Growth -- Factors of Growth -- Population -- Land -- Capital -- Jefferson Theory of War Finance -- American Free Banking Era (1838-1860) -- Denationalized Banking -- The Big Push: California Gold Rush (1848-1855) -- The Civil War Period (1861-1865) -- Reconstruction (1865-1877) -- Examination of American Economists for Exceptionalism in Economics -- Broad Characterizations of American Economists: Precursor Candidates.

This collection gathers some of the greatest minds in economics to discuss their experiences of collaborative research and publication. Nobel Prize winners and other eminent scholars from a representative sample of economics' major sub-disciplines share how and why they came to work primarily in partnerships or on their own, whether naturally or by necessity. The contributions include discussions of personal experiences, statistical analyses, different levels of investment, and how the digital age has changed researcher interactions. As budget cuts and resource consolidation make working together vital in ever more fields of academia, this book offers valuable advice to help young and seasoned scholars alike identify the right co-author(s).