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Using the arguments of Ludwig von Mises and Friedrich August von Hayek, I argue that private ownership solves the problem of corruption. Because private ownership discourages entrepreneurs from rent-seeking and because privately owned media provide quality information to citizens, the legal...
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We present a model of parallel redistribution system to explain the problem of corruption. Within this model we synthesize both agency theory and rent-seeking. More precisely, we argue that the principal-agent theory has problems accounting for the environment in which the agents offering and...
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Using the arguments of Ludwig von Mises and Friedrich August von Hayek, I argue that private ownership solves the economic problem of corruption. Since private ownership discourages entrepreneurs from rent-seeking, and privately owned media provide objective and unbiased information to citizens,...
Persistent link: https://www.econbiz.de/10013087752