Working Papers

The Center Working Papers series is a platform for preliminary research papers and other unpublished documents taking up the economics of capitalism and its social effects, written by members and affiliates of the Center on Capitalism and Society. Submission of such materials is restricted to members and affiliates of the Center.

2012 

• Job Satisfaction: the Effect of Capitalist and Corporatist Institutions
  Gylfi Zoega and Edmund S. Phelps
  Center Working Paper No. 78, December 2012
   
• Job Satisfaction: the Effects of Two Economic Cultures
  Raicho Bojilov and Edmund S. Phelps
  Center Working Paper No. 77, September 2012
   
• Entrepreneurship, Ambiguity, and the Shape of Innovation Contracts
  Massimiliano Amarante, Mario Ghossoub, and Edmund S. Phelps
  Center Working Paper No. 76, September 2012
   
• Contracting for Innovation under Ambiguity
  Massimiliano Amarante, Mario Ghossoub, and Edmund S. Phelps
  Center Working Paper No. 75, September 2012
   
• Effects of Technological Improvement in the ICT-Producing Sector on Business Activity
  Hian Teck Hoon and Edmund S. Phelps
  Center Working Paper No. 74, January 2012
   

2011

• Corporatism, Capitalism and the Arab Spring
  Saifedean Ammous
  Center Working Paper No. 73, October 2011
   
• An Excess of State Borrowing and Bank Lending: A Symptom of Present-day Corporatist Economies
  Amar Bhidé, John Kay and Edmund S. Phelps
  Center Working Paper No. 72, August 2011
  
  
• A North African Quartet
  Saifedean Ammous and Edmund S. Phelps
  Center Working Paper No. 71, July 2011
   
• Rules vs. Discretion: The Judicial Alternative
  Juan Vicente Sola
  Center Working Paper No. 70, April 2011
   
• Innovation and Employment
  Hian Teck Hoon and Edmund S. Phelps
  Center Working Paper No. 69, April 2011
   
• The Entrepreneurial Economy I: Contracting under Knightian Uncertainty
  Massimiliano Amarante, Mario Ghossoub and Edmund S. Phelps
  Center Working Paper No. 68, April 2011
  
  
• Structural Slumps and Fiscal Policy
  Gylfi Zoega
  Center Working Paper No. 67, April 2011 (updated May 2011)
   
• Phelpsian Good Economy: Twelve Radical Aspects
  Esa Saarinen and Peter Kenttä
  Center Working Paper No. 66, April 2011
   
• Climate Change, the Knowledge Problem and the Good Life
  Saifedean Ammous and Edmund S. Phelps
  Center Working Paper No. 65, March 2011

2010

• To Spend or Not to Spend: Is That the Main Question?
  Guillermo Calvo
  Center Working Paper No. 64, August 2010
   
• Below is a trilogy of papers on the analytics of the crisis and the ensuing slump.
  
  
  • Macroeconomic Effects of Over-investment in Housing in an Aggregative Model of Economic Activity
    Hian Teck Hoon and Edmund S. Phelps
    Center Working Paper No. 63, July 2010
     
  • The Financial Crisis: Joblessness and Investmentlessness
    Gylfi Zoega
    Center Working Paper No. 62, July 2010
     
  • The Slump, the Recovery, And the 'New Normal'
    Edmund S. Phelps
    Center Working Paper No. 61, June 2010

• Dynamism and Economic Performance: A Preliminary Report
  Raicho Bojilov and Edmund S. Phelps
  Center Working Paper No. 60, July 2010
   
• Capitalism as a Mixed Economic System
  Richard R. Nelson
  Center Working Paper No. 59, June 2010
   
• The Slump, the Recovery, And the 'New Normal' (Updated above - No. 61)
  Edmund S. Phelps
  Center Working Paper No. 58, May 2010
   
• The Influence of Keynesian Economics in Judicial Decisions
  Juan V. Sola
  Center Working Paper No. 57, May 2010
   
• The Challenge of Innovation in Turbulent Times: A Report Submitted to the Global Agenda Council
  Dominique Foray and Edmund S. Phelps
  Center Working Paper No. 56, April 2010
   
• Banks, Market Organization and Macroeconomic Performance: An Agent-Based Computational Analysis
  Peter Howitt
  Center Working Paper No. 55, April 2010
  
  
• Meso Foundation of Business Cycles and Market Vitality for Macro Policy: A New Trinity of Micro-Meso-Macro Economy
  Ping Chen
  Center Working Paper No. 54, February 2010

2009

• Seeds of Recovery After The Financial Crisis
  Edmund S. Phelps
  Center Working Paper No. 53, December 2009
   
• Presentation at the 7th Annual Conference of the Center
  Josef Ackermann
  Center Working Paper No. 52, December 2009

• Presentation at the 7th Annual Conference of the Center
  Hans-Werner Sinn
  Center Working Paper No. 51, December 2009
   
• Presentation at the 7th Annual Conference of the Center
  Stefano Scarpetta
  Center Working Paper No. 50, December 2009
   
• Presentation at the 7th Annual Conference of the Center
  Howard Davies
  Center Working Paper No. 49, December 2009
   
• The Radicalism of Phelpsian Good Economy (Updated Above - No. 66)
  Esa Saarinen and Peter Kenttä
  Center Working Paper No. 48, November 2009
   
• Presentation at Center's Special Conference: Peace Through Reconstruction
  Graciana del Castillo
  Center Working Paper No. 47, October 2009
   
• Presentation at Center's Special Conference: Peace Through Reconstruction
  Herman Schaper
  Center Working Paper No. 46, October 2009
   
• Presentation at Center's Special Conference: Peace Through Reconstruction
  M. Ishaq Nadiri
  Center Working Paper No. 45, October 2009
   
• Presentation at Center's Special Conference: Peace Through Reconstruction
  Roger Myerson
  Center Working Paper No. 44, October 2009
   
• Capitalism As A Mixed Economic System
  Richard R. Nelson
  Center Working Paper No. 43, September 2009
   
• Climate Change, the Knowledge Problem and the Good Life (Updated above)
  Saifedean Ammous and Edmund S. Phelps
  Center Working Paper No. 42, September 2009
   
• Innovation and Morality in Economics
  Edmund S. Phelps
  Center Working Paper No. 41, August 2009
   
• Liberating Leadership: How The Initiative-Freeing Radical Organizational Form Has Been Successfully Adopted
  Isaac Getz
  Center Working Paper No.40, August 2009
  
  
• An Accident Waiting to Happen
  Amar Bhidé
  Center Working Paper No. 39, May 2009

•      Presentation at the 6th Annual Conference of the Center
  Guillermo de la Dehesa
  Center Working Paper No. 38, February 2009

• Presentation at the 6th Annual Conference of the Center
  Roman Frydman and Michael D. Goldberg
  Center Working Paper No. 37, February 2009

• Presentation at the 6th Annual Conference of the Center
  Josef Ackermann
  Center Working Paper No. 36, February 2009

• Presentation at the 6th Annual Conference of the Center
  Edmund S. Phelps
  Center Working Paper No. 35, February 2009

• Presentation at the 6th Annual Conference of the Center
  Martin Wolf
  Center Working Paper No. 34, February 2009

• Presentation at the 6th Annual Conference of the Center
  Stefano Micossi
  Center Working Paper No. 33, February 2009

• Presentation at the 6th Annual Conference of the Center
  Malcolm Knight
  Center Working Paper No. 32, February 2009
   
• Presentation at the 6th Annual Conference of the Center
  John Kay
  Center Working Paper No. 31, February 2009
   
• Presentation at the 6th Annual Conference of the Center
  Willem Buiter
  Center Working Paper No. 30, February 2009

• Financial Markets and the State: Price Swings, Risk, and the Scope of Regulation
  Roman Frydman and Michael D. Goldberg
  Center Working Paper No. 29, February 2009

• In Praise of More Primitive Finance
  Amar Bhidé
  Center Working Paper No. 28, January 2009

2008

• Imperfect Knowledge and Post-Crisis Reform of the Financial System: A Sketch of the Conceptual Framework and Policy Proposals
  Roman Frydman and Michael D. Goldberg
  Center Working Paper No. 27, November 2008

• Three Forewords
  Edmund S. Phelps
  Center Working Paper No. 26, June 2008

• Dynamism and Inclusion: What? Why? How?
  Edmund S. Phelps
  Center Working Paper No. 25, May 2008
   
• Macroeconomic Theory for a World of Imperfect Knowledge
  Roman Frydman and Michael D. Goldberg
  Center Working Paper No. 24, May 2008

2007

• How Medical Know-how Progresses
  Richard R. Nelson
  Center Working Paper No. 23, November 2007

• The Dollar-Euro Exchange Rate and the Limits of Knowledge
  Roman Frydman and Michael D. Goldberg
  Center Working Paper No. 22, November 2007

• Capitalism and Keynes: From the Treatise on Probability to The General Theory
  Edmund S. Phelps
  Center Working Paper No. 21, July 2007

• Corporatism and Keynes: His Views on Growth
  Edmund S. Phelps
  Center Working Paper No. 20, May 2007

2006

• Toward a Model of Innovation and Performance Along the Lines of Knight, Keynes, Hayek and M. Polanyí
  Edmund S. Phelps
  Center Working Paper No.19, November 2006

• Europe: Cultural Adjustment to a New Kind of Capitalism?
  Harold James
  Center Working Paper No. 18, July 2006

• Economic Culture and Economic Performance: What Light Is Shed on the Continent's Problem?
  Edmund S. Phelps
  Center Working Paper No.17, July 2006

• Payroll Taxes, Wealth and Employment in Neoclassical Theory: Neutrality or Non-neutrality?
  Hian Teck Hoon
  Center Working Paper No. 16, September 2006
   
• Revisiting the Nordic Model: Evidence on Recent Macroeconomic Performance
  Jeffrey D. Sachs
  Center Working Paper No. 15, October 2006
   
• Europe’s Venture Capital Institutions are Good Enough
  Richard Robb
  Center Working Paper No. 14, September 2006
   
• Innovations to Foster Risk-Taking and Entrepreneurship
  Robert J. Shiller
  Center Working Paper No. 13, August 2006
   
• Venturesome Consumption, Innovation and Globalization
  Amar Bhidé
  Center Working Paper No. 12, July 2006
   
• Why Isn’t Europe Growing As Fast As the US?
  Philippe Aghion
  Center Working Paper No. 11, October 2006
   
• Promoting Entrepreneurship - What are the real policy challenges for the European Union (EU)?
  Anders N. Hoffmann
  Center Working Paper No. 10, September 2006
   
• Entrepreneurship in Europe and the United States: Security, Finance, and Accountability
  Roman Frydman, Omar Khan, Andrzej Rapaczynski
  Center Working Paper No. 9, September 2006
   
• Market Forces and the Continent’s Growth Problem
  Gylfi Zoega
  Center Working Paper No. 8, October 2006
   
• Policies to Create and Destroy Human Capital in Europe
  James J. Heckman and Bas Jacobs
  Center Working Paper No. 7, September 2006
   
• Issues in the Comparison of Welfare Between Europe and the United States
  Robert J. Gordon
  Center Working Paper No. 6, July 2006

2005

• Evolutionary Social Science and Universal Darwinism
  Richard R. Nelson
  Center Working Paper No. 5, September 2005
   
• A Dynamic Theory of China-U.S. Trade: Making Sense of the Imbalances
  Amar Bhidé and Edmund S. Phelps
  Center Working Paper No. 4, July 2005
   
• Where Are We Now on an Evolutionary Theory of Economic Growth, and Where Should We Be Going?
  Richard R. Nelson
  Center Working Paper No. 3, February 2005
   
• The Economic Prosperity of Nations: Prosperity Depends on Dynamism, Dynamism on Institutions
  Edmund S. Phelps
  Center Working Paper No. 2, January 2005
   
• How Novelty Aversion Affects Financing Options
  Amar Bhidé
  Center Working Paper No. 1, January 2005