Infrastructure privatization in a neoclassical economy : macroeconomic impact and welfare computation

In this paper a competitive general equilibrium model is used to investigate the welfare and long run allocation impacts of privatization. There are two types of capital in this model economy, one private and the other initially public ("infrastructure"), and a positive externality due to the latter is assumed. A benevolent government can improve upon decentralized allocation internalizing the externality, but it introduces distortions in the economy through the finance of its investments. It is shown that even making the best case for public action - maximization of individuals' welfare, no• operation inefficiency and free supply to society of infrastructure services - privatization is welfare improving for a large set of economies. Hence, arguments against privatization based solely on under-investment are incorrect, as this maybe the optimal action when the financing of public investment are considered. When operation inefficiency is introduced in the public sector, gains from privatization are much higher and positive for most reasonable combinations of parameters .

Public versus private provision of infrastructure in a neoclassical growth model

This article studies the welfare and long run allocation impacts of privatization. There are two types of capital in this model economy, one private and the other initially public (“infrastructure”). A positive externality due to infrastructure capital is assumed, so that the government could improve upon decentralized allocations internalizing the externality, but public investmentis …nanced through distortionary taxation. It is shown that privatization is welfare-improving for a large set of economies and that after privatization under-investment is optimal. When operation inefficiency in the public sectoror subsidy to infrastructure accumulation are introduced, gains from privatization are higherand positive for most reasonable combinations of parameters.

Infrastructure privatization in a neoclassical economy: macroeconomic impact and welfare computation

In this paper a competi tive general equilibrium model is used to investigate the welfare and long run allocation impacts of privatization. There are two types of capital in this model economy, one private and the other initially public ("infrastructure"), and a positive extemality due to the latter is assumed. A benevolent governrnent can improve upon decentralized allocation intemalizing the extemality, but it introduces distortions in the economy through the finance of its investments. It is shown that even making the best case for public action - maximization of individuais' welfare, no operation inefficiency and free supply to society of infrastructure services - privatization is welfare improving for a large set of economies. Hence, arguments against privatization based solely on under-investment are incorrect, as this maybe the optimal action when the financing of public investment are considered. When operation inefficiency is introduced in the public sector, gains from privatization are much higher and positive for most reasonable combinations of parameters.

Meta-theories in research: positivism, postmodernism, and critical realism

No scholar or researcher is able to provide robust evidence that counters the scant reflection on metatheory – mostly ontology and epistemology – underlying management studies in general, and industrial marketing and purchasing research in particular. This paper is a contribution to the indispensable discussion of metatheoretical alternatives in research, and most importantly, the strengths and shortcomings thereof, and respective implications on research questions, objectives, and findings.

The neoclassical theories of economic liberalism

Includes bibliography

The State, business and the restoration of the neoclassical paradigm

Includes bibliography

Matters of taste: the neoclassical furniture in the Italian portraits from the late eighteenth century to the Restoration

Analysis and description of the furniture shown on Italian portraits from the late eighteenth century to the period of the Restoration. We have studied real examples of environments still exist with their furniture, chairs, mirrors, lamps, etc. in different areas of Italy. All this to explain the refined taste and cosmopolitan of the characters painted in the portraits, that for this reason they were considered fashionable

Exploring Magic Realism in Salman Rushdie's Fiction

Kluwick breaks new ground in this book, moving away from Rushdie studies that focus on his status as postcolonial or postmodern, and instead considering the significance of magic realism in his fiction. Rushdie’s magic realism, in fact, lies at the heart of his engagement with the post/colonial. In a departure from conventional descriptions of magic realism—based primarily on the Latin-American tradition—Kluwick here proposes an alternative definition, allowing for a more accurate description of the form. She argues that it is disharmony, rather than harmony, that is decisive: that the incompatibility of the realist and the supernatural needs to be recognized as a driving force in Rushdie’s fiction. In its rigorous analysis of this Rushdian magic realism, this book considers the entire corpus—Midnight’s Children, Shame, The Satanic Verses, The Moor’s Last Sigh, The Ground Beneath Her Feet, Shalimar the Clown, and The Enchantress of Florence. This study is the first of its kind to do so.