Irving Fisher and the Contribution of Improved Longevity to Living Standards

A bstract    It is not widely recognized that conventional measures of national income and output exclude the value of improvements in the health status of the population. The present study discusses the theory of the measurement of national income, proposes a new concept called "health income" that can be used to incorporate improvements in health status, and applies the theory to data for the United States over the 20^th century. It concludes that accounting for improvements in the health status would, over the twentieth century in the United States, make a substantial difference to our measures of economic welfare.     

STAY OR LEAVE? CHOICE OF PLANT LOCATION WITH COST HETEROGENEITY

Using a two-country model, we examine location choices by two domestic firms when they serve only the domestic market and their cost structures differ. The findings indicate that whether the firm that has a greater incentive for foreign direct investment is more or less efficient depends on the differences in domestic and foreign marginal costs, trade costs, and the presence of fixed costs. Plant locations may not be uniquely determined. In particular, a small change in trade costs may reverse plant location. Moreover, a decrease in transport costs in the presence of foreign direct investment may deteriorate domestic welfare.     

The Western Expansion as a Common Pool Problem: The Contrasting Histories of the Brazilian and North American Pioneers

Before the year 1600, Brazil and the United States were very similar regions in terms of geographic development and colonial status, and yet both countries developed in remarkably different ways. In this article, we apply institutional analysis and the common pool approach to explain differences in the western expansion of Brazil and the United States. We find that (i) such analysis complements much of the previous literature that heretofore explained differences in these regions using sociological and ideological analytical tools, and (ii) the theory that the distinctive behavior between the Brazilian bandeirantes and the North American pioneers is due to sociological factors is refuted.     

COMPANY TAXATION*

To reduce the problems to be discussed to manageable proportions the taxation of mining and other special classes of companies (insurers, mutual funds, etc.) is excluded. Each of the latter constitutes a major topic, deserving of special treatment. Eschewed are also the more technical intricacies in which the administration is particularly interested.     

Keywords in 2009--REVIVAL PLANS,Ten Key Sectors Benefit？

As we reach the end of a miserable 2009,signs are mounting that the world economy is stirring back to life.China,as we can see,has been doing a .good job throughout the whole year compared with other financially bedraggled countries.The annual targeted economic growth of 8%is expected to be achieved without doubt.Behind the figure of 8%,more facts need to be highlighted.Series of revitalizing plans on key industries have contributed a lot to domestic economic recovery. China＇s export,due to slow recovering world economy,is still in the long time trough phase.Capital and market are always top concerns for Chinese entrepreneurs.While the world is seeking cooperation on climate change and new energy,China adamantly pledges to oppose and reject trade protectionism.As Confucius said,＂Consider the past,and you shall know the future＂,Special Report this issue picks the most frequently cited keywords of 2009,to reflect back and to look forward.