Layard, R. (2003), Happiness: Has Social Science A Clue?, Lionel Robbins Memorial Lectures delivered at the London School of Economics, 3-5 March: Lucas, R. (1980), “Rules, Discretion and the Role of the Economic Advisor” and Fisher, S. (ed.) “Rational Expectations and Economic Policy”, University of Chicago Press. Marx, K. (1867): Das Kapital: Kritik der politischen Ökonomie, Buch I, Hamburg: Otto Meissner; Buch II (1885), Buch III (1894) edited by F. Engels. Moutot, P., F. Mongelli and A. Jung, “The Eurosystem: Monetary Policy Preparation, Decision-Making, and Enlargement - Selected Issues”, ECB Occasional Paper, forthcoming. Nicoletti, G., R. Haffner, S. Nickell, S. Scarpetta and G. Zoega (2000), “European Integration, Liberalization and Labour Market Performance”, in G. Bertola, T. Boeri and G. Nicoletti (eds), Welfare and Employment in a United Europe, MIT Press. Nickell, S and L. Nunziata (2001), Employment Patterns in OECD Countries, Centre for Economic Performance. Nickell, S., L. Nunziata, L., W. Ochel,and G. Quintini (2002), Why Do Jobless Rates Differ?, CESifo Forum 3:1, 50-59. Phelps, E.S. (1973), “Altruism, Morality and Economic Theory”, New York, Basic Books for the Russell Sage Foundation. 10  BIS Review 43/2007  Phelps, E.S (2003), “Commentary II”, in Philippe Aghion, Roman Frydman, Joseph Stiglitz and Michael Woodford (eds. ), Information and Knowledge in Modern Macroeconomics, Princeton, Princeton University Press. Phelps, E.S. (2003), “Globalization and Development”, Public lecture in Bangkok, Beijing, Tianjin, Shanghai, Singapore and Havana, January-February. Phelps, E.S.
Switzerland’s only major drawback is the fact that it is a lightweight in the geopolitical arena, which makes it almost impossible for it to defend itself against protectionist tendencies and discriminatory measures taken by big countries. The Swiss government must therefore take a strong stand on behalf of free trade, while also ensuring that the private sector operates within the best possible framework for its further development. Ultimately, our future welfare depends on the vitality of the private sector, not on any state intervention. BIS Review 166/2009  1