American Economic Association Nashville, TN 0022-8282 Journal of Economic Literature http://www.aeaweb.org/journal.html 47 4 December 2009 http://www.aeaweb.org/issue.php?journal=JEL&volume=47&issue=4 Journal Article The Wealth of Cities: Agglomeration Economies and Spatial Equilibrium in the United States Edward L.GlaeserHarvard U Joshua D.GottliebHarvard U 983 1028 Empirical research on cities starts with a spatial equilibrium condition: workers and firms are assumed to be indifferent across space. This condition implies that research on cities is different from research on countries, and that work on places within countries needs to consider population, income, and housing prices simultaneously. Housing supply elasticity will determine whether urban success reveals itself in the form of more people or higher incomes. Urban economists generally accept the existence of agglomeration economies, which exist when productivity rises with density, but estimating the magnitude of those economies is difficult. Some manufacturing firms cluster to reduce the costs of moving goods, but this force no longer appears to be important in driving urban success. Instead, modern cities are far more dependent on the role that density can play in speeding the fl ow of ideas. Finally, urban economics has some insights to offer related topics such as growth theory, national income accounts, public economics, and housing prices. (JEL R11, R23, R31, R32) http://www.aeaweb.org/articles.php?doi=10.1257/jel.47.4.983 10.1257/jel.47.4.983 American Economic Association Nashville, TN 0022-8282 Journal of Economic Literature http://www.aeaweb.org/journal.html 47 4 December 2009 http://www.aeaweb.org/issue.php?journal=JEL&volume=47&issue=4 Journal Article Beyond GDP: The Quest for a Measure of Social Welfare MarcFleurbaeyU Paris V, Rene Descartes and CORE, Catholic U Louvain 1029 75 This paper critically examines the various approaches to the measurement of individual well-being and social welfare that have been considered for the construction of alternatives to GDP. Special attention is devoted to recent developments in the analysis of sustainability, in the study of happiness, in the theory of social choice and fair allocation, and in the capability approach. It is suggested in the conclusion that, although convergence toward a consensual approach is not impossible, for the moment not one but three alternatives to GDP are worth developing. ( JEL I31, E23, E01) http://www.aeaweb.org/articles.php?doi=10.1257/jel.47.4.1029 10.1257/jel.47.4.1029 American Economic Association Nashville, TN 0022-8282 Journal of Economic Literature http://www.aeaweb.org/journal.html 47 4 December 2009 http://www.aeaweb.org/issue.php?journal=JEL&volume=47&issue=4 Journal Article Law and Finance "at the Origin" UlrikeMalmendierU CA, Berkeley 1076 1108 What are the key determinants of financial development and growth? A large literature debates the relative importance of countries' legal and political environment. In this paper, I present evidence from ancient Rome, where an early form of shareholder company, the societas publicanorum, developed. I show that the societas publicanorum flourished in a legally underdeveloped but politically supportive environment (Roman Republic) and disappeared when Roman law reached its height of legal sophistication but the political environment grew less supportive (Roman Empire). In the Roman case, legal development appears to have mattered little as long as the law as practiced was flexible and adapted to economic needs. The "law as practiced," in turn, reflected prevalent political interests. After discussing parallels in more recent history, I provide a brief overview of the literature on law and finance and on politics and finance. The historical evidence suggests that legal systems may be less of a technological constraint for growth than previously thought -- at least "at the origin." (JEL D72, K10, N23, N43) http://www.aeaweb.org/articles.php?doi=10.1257/jel.47.4.1076 10.1257/jel.47.4.1076 American Economic Association Nashville, TN 0022-8282 Journal of Economic Literature http://www.aeaweb.org/journal.html 47 4 December 2009 http://www.aeaweb.org/issue.php?journal=JEL&volume=47&issue=4 Journal Article Learning from Schelling's Strategy of Conflict Roger B.MyersonU Chicago 1109 25 Thomas Schelling's Strategy of Conflict is a masterpiece that should be recognized as one of the most important and influential books in social theory. This paper reviews some of the important ideas in Strategy of Conflict and considers some of the broader impact that this book has had on game theory, economics, and social theory. By his emphasis on the critical importance of information and commitment in strategic dynamics, Schelling played a vital role in stimulating the development of noncooperative game theory. More broadly, Schelling's analysis of games with multiple equilibria has redefined the scope of economics and its place in the social sciences. (JEL D74, F51, H56) http://www.aeaweb.org/articles.php?doi=10.1257/jel.47.4.1109 10.1257/jel.47.4.1109 American Economic Association Nashville, TN 0022-8282 Journal of Economic Literature http://www.aeaweb.org/journal.html 47 4 December 2009 http://www.aeaweb.org/issue.php?journal=JEL&volume=47&issue=4 Journal Article Book Reviews 1126 60 http://www.aeaweb.org/articles.php?doi=10.1257/jel.47.4.1126 10.1257/jel.47.4.1126 American Economic Association Nashville, TN 0022-8282 Journal of Economic Literature http://www.aeaweb.org/journal.html 47 4 December 2009 http://www.aeaweb.org/issue.php?journal=JEL&volume=47&issue=4 Journal Article Front Matter 977 980 http://www.aeaweb.org/articles.php?doi=10.1257/jel.47.4.977 10.1257/jel.47.4.977 American Economic Association Nashville, TN 0022-8282 Journal of Economic Literature http://www.aeaweb.org/journal.html 47 4 December 2009 http://www.aeaweb.org/issue.php?journal=JEL&volume=47&issue=4 Journal Article Annotated Listing of New Books 1161 1256 http://www.aeaweb.org/articles.php?doi=10.1257/jel.47.4.1161 10.1257/jel.47.4.1161 American Economic Association Nashville, TN 0022-8282 Journal of Economic Literature http://www.aeaweb.org/journal.html 47 4 December 2009 http://www.aeaweb.org/issue.php?journal=JEL&volume=47&issue=4 Journal Article JEL Classification System 1257 1270 http://www.aeaweb.org/articles.php?doi=10.1257/jel.47.4.1257 10.1257/jel.47.4.1257 American Economic Association Nashville, TN 0022-8282 Journal of Economic Literature http://www.aeaweb.org/journal.html 47 4 December 2009 http://www.aeaweb.org/issue.php?journal=JEL&volume=47&issue=4 Journal Article Doctoral Dissertations in Economics 1271 1298 http://www.aeaweb.org/articles.php?doi=10.1257/jel.47.4.1271 10.1257/jel.47.4.1271 American Economic Association Nashville, TN 0022-8282 Journal of Economic Literature http://www.aeaweb.org/journal.html 47 4 December 2009 http://www.aeaweb.org/issue.php?journal=JEL&volume=47&issue=4 Journal Article General Index for Volume XLVII 1299 1306 http://www.aeaweb.org/articles.php?doi=10.1257/jel.47.4.1299 10.1257/jel.47.4.1299 American Economic Association Nashville, TN 0022-8282 Journal of Economic Literature http://www.aeaweb.org/journal.html 47 4 December 2009 http://www.aeaweb.org/issue.php?journal=JEL&volume=47&issue=4 Journal Article Index of Authors of New Books 1307 1335 http://www.aeaweb.org/articles.php?doi=10.1257/jel.47.4.1307 10.1257/jel.47.4.1307