Robert Lucas is known among economists as one of the most influential macroeconomists of recent times--a reputation founded in no small part on the critical thinking skills displayed in his seminal 1990 paper 'Why Doesn';t Capital Flow from Rich to Poor Countries?'; Lucas's paper tackles a puzzle in economic theory that has since come to be known as the 'Lucas paradox, '; and it deploys the author';s brilliant problem solving skills to explain why such an apparent paradox in fact makes sense. Classical economic theory makes a simple prediction of how capital flows between countries: it should, it states, flow from rich to poor countries, because of the law of diminishing returns on capital. Since poor countries have so little capital invested in them, the returns on new investment should be proportionally far better than investment in rich countries. This should mean that investors seeking new opportunities will invest in poorer countries, making capital consistently flow from rich nations to poorer ones. But, problematically, this is not in fact the case. Having defined the problem, Lucas did what any good problem solver would: he looked critically at the criteria involved, and offered a series of possible solutions. Indeed, in just six pages, he puts forward four hypotheses to explain the paradox';s existence. The popularity of his paper, and the influence it has had, are also greatly magnified by careful reasoning embodied in Lucas's marshalling of evidence and his explanations of the judgements he has made."--Provided by publisher
Timberlake website Another useful website is www.timberlake.co.uk. Timberlake Consultants is a statistical consultancy company that also distributes and ...
Timberlake, E. M., Farber, M. Z., & Sabatino, C. A. (2002). The general method of social work practice (4th ed.). Boston: Allyn & Bacon. Timberlake, E. M. ...
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... is much higher than in the United States, with the prevalence in France being perhaps the highest (Heuveline and Timberlake 2004; Toulemon 1997).
HENRY TIMBERLAKE'S CHEROKEE WAR SONG 1. That Timberlake's memoir contains the first English translation of the words of a Native American song seems to have ...
But Timberlake seems to have had a bit more literary sensitivity - suggested by his translation of the Cherokee war song in his memoirs - than these earlier ...
Timberlake , Michael . 1985. " The World System Perspective and Urbanization . ” In Michael Timberlake ( ed . ) , Urbanization in the World Economy , 3-4 .
The poor tend to live in dwellings that are structurally unsuited to withstand the impact of environmental extremes (Wijkman and Timberlake 1984, pp.
To display and share his discoveries, in 1940 Johnson built the Timberlake Museum on his farm. It remained open to the public during the summer and for ...