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Paul Samuelson once noted that Abba Lerner has been a great theoretical economist in a vintage epoch for theorists. This last third of a century he has poured out one brilliant paper after another-in micro theory and macro, in pure thought, and in the realms of policy.Lerner's colleagues at Queens College have assembled these essays on issues of considerable importance in the world economy, particularly in areas of social welfare, as a tribute...

Examines the size, nature and economic effects of America's underground economy, using a sector-by-sector approach, and including an estimation of the labour force involved. The author also explores the consequences for the general economy, for example, tax evasion and cyclical aspects.