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In this provocative work, Gerald Scully develops and empirically tests a theory about how a nation's constitutional setting affects its economic growth. Modern growth theory links the rise in the standard of living to capital formation, both physical and human, and to technological progress, and development economists continue to believe that the transformation of the less developed world cannot occur without massive government control of the economy. Scully, on the other hand, maintains that material advancement is as much affected by the choice of the economic, legal, and political institutions under which people live and work as it is by resource endowment and technological progress. Nothing in the neoclassical theory of growth considers the "rules of the game" under which capital is accumulated and innovation is made. Redressing this neglect, Scully proposes ways of measuring the economic, civil, and political freedom within a society's institutional framework, and he reveals that freedom, or the lack thereof, powerfully and demonstrably influences not only economic progress but also income distribution. Politically open societies grow at nearly three times the rate of those where freedom is more circumscribed, and they also have a more equitable distribution of income. Finally, Scully measures the effect of the size of the state on economic progress, showing that the larger the amount of government expenditures out of gross domestic product, the lower the rate of economic progress. Originally published in 1992. The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These paperback editions preserve the original texts of these important books while presenting them in durable paperback editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905

That there is a trade-off between equity & efficiency (economic growth) is well known. Two models have been developed that link government spending & taxation to economic growth. This paper uses these models to provide estimates of the growth-maximizing tax rate. Then, a two equation structural model is developed & estimated that is used to find the trade-off rate between economic growth & income inequality & the growth-maximizing level of income inequality for the US over the period 1960-1990. 3 Tables, 28 References. Adapted from the source document.

This study investigates the role that economic freedom plays in economic growth & in the distribution in market income, the role of government policy in advancing economic progress & in promoting income equality, & the effect that the rate of economic progress has on the distribution of market income. Structural & reduced form models are estimated that reveal that economic freedom promotes both economic growth & equity, & that there is a positive but relatively small trade-off between growth & income inequality. 3 Tables, 1 Appendix, 51 References. Adapted from the source document.

Most of the empirical work on the optimal size of the fiscal state has linked the level of taxation to economic growth. In this paper the level of government consumption expenditure that yields the maximum physical quality of life is found, along with those expenditures that cause equality between marginal benefit & marginal government expenditure out of GNP. Careful attention is paid to the measurement of the physical quality of life, the weighing of the attributes in the construction of an aggregate index of quality of life, & in the functional (parametric) form of the nonlinear equations utilized to calculate marginal benefit. The conclusion of the paper is that government consumption expenditure is considerably higher than is necessary to maximize the physical quality of life, & that a reduction in government consumption expenditure would not lower quality of life. 6 Tables, 3 Figures, 1 Appendix, 20 References. Adapted from the source document.

The purpose of this paper is to estimate athletic performance profiles over time, to establish that diminishing returns is a characteristic of performance functions, to measure the rate of the marginal decline, and to measure the upper (lower) bound or limit of performance. The empirical results yield estimates of the limiting value of athletic performance and the frontier maximum (minimum) record. Since lower bounds in the running events have been shown to be sensitive to choice of the nonlinear model, logistic and an exponential model for the men's running and distance events are estimated as a cross‐check on my differential equation model. The issue of the gender gap (whether women will ever catch men) in athletic performance is also explored.

This note is a reply to Professor Kennedy's criticism of the specification of my model on taxation and economic growth and my testing of the degree of homogeneity of the growth‐generating function in an earlier paper in this journal. I find that the model relating the pattern in the growth rate to the pattern in the division of the share of output is not affected by incorporating factor inputs into the model, that the function is homogeneous of degree one, and that the growth‐maximizing tax rate of about 20 percent of GDP stands, as in the original paper.

The purpose of this paper is to estimate athletic performance profiles over time, to establish that diminishing returns is a characteristic of performance functions, to measure the rate of the marginal decline, & to measure the upper (lower) bound or limit of performance. The empirical results yield estimates of the limiting value of athletic performance & the frontier maximum (minimum) record. Since lower bounds in the running events have been shown to be sensitive to choice of the nonlinear model, a logistic & an exponential model for the men's running & distance events are estimated as a cross-check on my differential equation model. The issue of the gender gap (whether women will ever catch men) in athletic performance is also explored. 5 Tables, 2 Figures, 10 References. Adapted from the source document.

Examines murder of the population by the state; focus on change in growth path of economies that practice genocide relative to those that do not.