In this report the authors analyze the CMEA trading relationship using the standard concepts of 1) specialization in accord with comparative advantage, and 2) the incentives to resist trade liberalization because of rents accruing to industry specific factors of production (including job...

Economic Theory suggest that central problem of economics is scarcity, thus the remedy for economic problems is growth -- accumulation of greater wealth to remove scarcity. Islamic teachings differentiate strongly between needs and wants. Needs are limited, and there is no scarcity of wealth...

Due to historical and geographical reasons, the Baltic States are strongly connected to the power (electricity) transmission grids of Russia and Belarus. Current energy security and energy independence targets in the EU trigger seeking for alternative power sources for the Baltic. Knowing that,...

Due to historical and geographical reasons, the Baltic States are strongly connected to the power (electricity) transmission grids of Russia and Belarus. Current energy security and energy independence targets in the EU trigger seeking for alternative power sources for the Baltic. Knowing that,...

The dissolution of the Soviet Union in 1991 has led to the independence of fifteen new states. Twelve of these, including Ukraine, joined the Commonwealth of Independent States (CIS) whose goal was to form a common economic space with free movement of goods, labor and capital. Twenty five years...

Virtue ethics is widely recognized as one of three major approaches in contemporary moral philosophy and arguably the most influential normative theory in business ethics. Despite its rich pedigree in Western and Eastern philosophy, most work in contemporary virtue ethics is part of the Western...

The Hungarian precision engineering industry, although fairly successful in the pre-war period and able to survive all the adverse corollaries of planning and CMEA orientation, might be wiped out by the long-awaited marketisation: far more competitive and powerful foreign competitors can now...